Officially the Home Office and Abramovich’s office have made no comment on the billionaire’s UK status but it is understood his 40 month visa has yet to be renewed.
The rules around tier 1 investment visas, Abramovich’s likely route to get into the UK, were toughened up in 2015 when the minimum UK investment doubled to £2m ($2.6m €2.2m).
According to Russian news service The Bell, which first broke the story, Abramovich had been without a visa for three weeks when the Chelsea owner missed the FA Cup and a UK High Court date.
If a visa is granted, Abramovich could still be asked to explain the source of his wealth under Unexplained Wealth Orders, which are part of a tougher Home Office immigration regime aimed at politically exposed persons.
Abramovich built his fortune in oil after the collapse of the Soviet Union, selling his interests to the government.
While there is no suggestion of wrongdoing by Abramovich, his home country Russia has been cited as a source of dirty money laundered in London and subject to further sanctions following the poisoning of a former spy using a nerve agent, which the UK government said came from Russia.
If his visa clears those potential hurdles, Home Office guidance suggests a visa decision should be reached in three weeks of a visa application.
The rules give no right to appeal a decision but an administrative review can be requested if an applicant believes a mistake has been made in considering an application.
The same right is available for out of country applications.
According to the widely reported flight records, Abramovich has visited Switzerland, Moscow, New York and the South of France while his UK visa issue is potentially resolved.
“The processes have become tougher,” Tracy Evlogidis, immigration specialist and Withers partner, told International Adviser. “Applicants must satisfy the legislation and jump through additional hoops such as criminal record checks going back 10 years for every period of residence exceeding 12 months within that period, which can be complex when you’ve been moving around.
“There is also increasing requirement for tuberculosis testing and every applicant has to undergo mandatory fingerprinting. Processing times are also taking longer, particularly in respect of Russian nationals in the light of current tensions between the UK and Russia. With proper advice and strategic planning, you can minimise the risks of being caught out in this way.”
Jersey or Switzerland
According to the Financial Times Abramovich has been offered residency in Jersey which he has not accepted. The island scheme levies no inheritance tax, no capital gains tax and 1% income tax for a payment of £145,000 annually.
In February, Le Matin Dimanche and Sonntags Zeitung reported Abramovich had applied twice for residency in 2016 and 2017 but later withdrawn by the billionaire oligarch who unsuccessfully attempted to have the records deleted.
