The UK government has scrapped the so-called “golden visas” for wealthy foreign investors over security concerns. The Home Office announced on Thursday that the Tier 1 Investor visa route has been shut to all new applicants from all nationalities with immediate effect. The visa, launched in 2008, has often been called a “golden visa,” as it offered residency to those investing £2 million ($2.7 million) or more in the UK, and allowed their families to join them. It has been under review due to repeated concerns that the system could be exploited because not enough background checks are made on applicants. The Home Office said the visa had in some cases “given rise to security concerns, including people acquiring their wealth illegitimately and being associated with wider corruption.” Announcing the decision, Home Secretary Priti Patel said: “I have zero tolerance for abuse of our immigration system. Under my New Plan for …