Investments of £2 million, £5 million or £10 million can be made in gilts, or government bonds, or in British businesses, in return for permission to apply for permanent residence in five, three or two years respectively.
The global super-rich hoping to live and invest in the United Kingdom will face new visa restrictions as part of Home Office reforms created to tackle organised crime and money laundering.
Under future reforms for Tier 1 visas - expected to introduced next year - investors will have to provide audits of their finances which will be regulated United Kingdom auditing firms.
The suspension will end once toughened measures have been put in place, ministers said.
The visa has been available to those with access to at least 2 million pounds ($2.5 million) to invest in the U.K. It's open to those from outside the European Economic Area and Switzerland.
"That is why I am bringing forward these new measures which will make sure that only genuine investors, who intend to support United Kingdom businesses, can benefit from our immigration system". In July, figures showed a 46% increase in the number of applicants to the tier 1 investor visa scheme, with more than 400 applications from wealthy overseas investors.
Golden visas have been widely condemned by those who believe they leave the United Kingdom open to corruption or stolen funds being laundered through the United Kingdom from Russia, China and the Middle East.
"That is why I am bringing forward these new measures which will make sure that only genuine investors, who intend to support United Kingdom businesses, can benefit from our immigration system".
In 2011, the government hoped to attract the "brightest and best" by allowing investors to bring forward the date at which they could apply for settled status.
These audits will have to be carried out by suitably regulated United Kingdom auditing firms which have no involvement with any qualifying investments or the visa application.
Reforms will also aim to increase the benefits to United Kingdom companies by excluding investment in government bonds and strengthening the rules to ensure investments are made in active and trading United Kingdom companies.
There will also be a new provision for pooled investments, which are supported by Government, to back projects with a clear economic benefit to the United Kingdom, such as supporting small and medium enterprises.