One of the most astonishing stories I have come across in the last few years is the tale of the billionaire Roman Abramovich visa expiry fiasco reported by the BBC and Sky news this week.
Roman Abramovich
The billionaire owner of Chelsea Football Club could not return to the UK to see his team beat Manchester United to win the FA Cup on Saturday because he is waiting for his UK visa to be renewed!
Reports from a source close to Sky News claim that his current visa expired in April, which is remarkable considering the oligarch has lived here for many years, employs staff in the UK and owns a house in one of the most expensive roads in London.
Two questions come to mind:
- How could he or his lawyers have allowed his visa to run out?
- Why has he not applied for indefinite leave to remain or permanent residence?
Apparently, an application for his visa renewal has been lodged but the process is taking longer than usual, according to Sky’s the source.
The press are now linking the oversight to the heightened diplomatic tensions between Russia and the UK in the wake of the Salisbury spy poisoning, along with recent British military involvement in Syria.
The Home Office would not be drawn on the circumstances surrounding Mr Abramovich's investor visa application, stressing: "We don't discuss individual cases."
Downing Street said visa applications from Russia are handled "rigorously and properly".
Amid press speculation, the Kremlin has now waded into the argument claiming that Russian businesses "often encounter unfriendly and unscrupulous actions".
Roman Abramovich is worth an estimated £9.3bn, according to the Sunday Times Rich List, and has spent hundreds of millions at Chelsea since taking charge of the London club in 2003.
It was widely expected that Chelsea’s current manager, who took them to the top of premier league last season, would be sacked regardless of the FA Cup result after a disappointed season. Conte should be alright for the time being, as his boss can’t get back to fire him!
He has close links to Vladimir Putin's government in Moscow and, earlier this year, was included for the first time on a US list of Russian officials and oligarchs close to the Kremlin that could serve as a basis for future sanctions.
Moscow accused Britain of unprecedented "anti-Russian mania", warning such an attitude could backfire and scare off foreign investors.
London Property prices hits new highs
Central London property prices have hit new highs in the last few years, partly due to foreign money, which some claim is dirty, pouring into the UK. A short leasehold flat in Kensington can cost tens of millions of pounds, and you don't even own the freehold!
Although prices have dropped in London, there are still investment opportunities in other parts of the UK, the world's 5th largest economy.
The British government rejected claims it is "turning a blind eye" to "dirty money" from Russia, and said it is determined to drive "dirty money and the money launderers" out of Britain.
Every migrant knows that you need to allow time to renew a visa, and that you can usually remain in the UK once your application has been lodged. The press are whipping up a scandal, but show little interest in the stories of thousands of ordinary migrants who face delays.
Check out my Podcast episode "Leasehold Property Is A Legal Landmine, Read This Before You Buy" on Anchor! https://anchor.fm/charles-kelly/episodes/Leasehold-Property-Is-A-Legal-Landmine-So-Be-Wary-e16oof
If you would like to learn more about property investment and attend a seminar, I have a limited supply of complimentary tickets for a beginner property course with a leading training provider - email me charles@charleskelly.net.
Related articles:
Leasehold properties are a legal minefield
Related articles:
Leasehold properties are a legal minefield
No comments:
Post a Comment