UK To Abramovic: Prove The Authenticity Of Your Wealth

UK To Abramovic: Prove The Authenticity Of Your Wealth
  • PublishedMay 23, 2018

Russian billionaire and Chelsea  owner Roman Abramovich has been told he will need to show the legality and legitimacy of his wealth if he wants to return into the UK.

Following the Sergei Skripal poisoning case in Salisbury, the Government has launched a war on Russian oligarchs entering the UK.

And one of the first  victims  of this is believed to be Abramovich, who was forced to watch his club’s FA cup final at Wembley on Saturday from Russia.

The Financial Times reported Abramovich’s investor visa allowing him access to the UK had expired.

He is now believed to be classed as a new applicant for a UK visa

Worth £9.3bn, Abramovich will have to prove at least £2m of investment in the UK is from legal sources.

He had held a UK visa for years but has not been seen in the country since early April.

The Prime Minister’s official spokesman said,  “Work is under way in terms of reviewing Tier 1 investor visas.

“In 2014-15 we took action to tighten up the Tier 1 investor route, including the introduction of new powers to refuse applications where there are reasonable grounds to believe funds have been obtained unlawfully.

“As a result of these reforms applications reduced by 84 per cent.

“We are currently taking another look at how the route operates and are undertaking further checks on investors who came to the UK through this route before the reforms were introduced.”

Sources close to the Chelsea chief said they were “assuming” his application would be accepted.

They added,  “There is no indication that the visa won’t be given.

“There has been no refusal or negative feedback. It is just taking longer than usual and it’s not clear why.”

Britain’s tough stance has sparked a furious reaction from the Kremlin, who have labelled the approach as “unfair and unfriendly”.

But MPs have accused Putin and his allies of using London to hide and launder corrupt assets.

There is no indication that Abramovich has made or invested any money illegally in the UK.

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