Roman Abramovich told to prove where his billions came from to get back in UK
BILLIONAIRE Chelsea boss Roman Abramovich may be asked to account for his vast wealth before being allowed back into the UK, it has been claimed.
The oligarch is currently unable to get back into Britain owing to the fact his visa has not yet been renewed - with the Kremlin accusing Britain of "anti-Russian mania".
Those close to Moscow-based Abramovich insist his request for a new visa has simply been delayed by the Home Office rather than denied.
It appears he may have been caught up in a clampdown - sparked by the Skripals' poisoning - on dirty money flowing into Britain and is now being treated as a new applicant, but there is no suggestion of any wrongdoing on his part.
However Abramovich - Britain's 13th-richest man - will be asked to prove how he made his billions, reported.
According to the paper, he will also be asked to prove that his “character, conduct or associations” contribute to the public good.
What we know so far:
- Chelsea FC owner Roman Abromovich has become caught up in a crackdown of up to 700 Russian oligarchs living in Britain
- Former Home Secretary Amber Rudd vowed to review visas given to wealthy Russians between 2008 and 2015
- The Chelsea boss missed his team's FA Cup win as his new visa was delayed
- He may need to prove at least £2m of his investment in the UK is from legal sources
- It comes as the Kremlin accuses Britain of "anti-Russia mania" in the wake of the Salisbury attack
- There is no suggestion Abramovich is responsible for wrongdoing but is the first high-profile oligarch caught up in new vetting process
Since 2015 the Home Office can refuse these visas if they have reasonable grounds to believe an applicant's funds were obtained unlawfully.
The delays have thrown his future in Britain and his ownership of Chelsea FC into doubt, and lawyers say red tape is unlikely to have been the cause of the delay.
This might be due to the fact the Home Office has a "super-premium service" which allows those willing to pay thousands of pounds to have their visa applications assessed within a day.
It comes amid heightened tensions between Downing Street and the Kremlin after the assassination attempt on ex-spy Sergei Skripal and his daughter in Salisbury.
The attack plunged relations between the two countries to the lowest they've been since the Cold War and led to the expulsion of more than 100 Russian spies from the West.
It also was the most brazen of many recent Kremlin plots, including cyberhacking and election interference, designed to undermine the West which UK politicians have now vowed to halt.
Moscow has also hit back at Britain after MPs released a report accusing the government of "turning a blind eye" to Russian money being hidden in British assets.
Putin's spokesman Dmitry Peskov said: "We are witnessing Britain's rather unprecedented anti-Russian mania which is manifested in various ways.
"I have no doubt that such actions won't go unnoticed by investors from other countries.
"Many countries are working to improve their investment attractiveness and this I believe is a step in the opposite direction."
Last night it was not clear where Abramovich was, though the Times reported that a jet he uses flew from Moscow to the French Riveria.
Theresa May's spokesman said earlier that the government is conducting a review into "tier one investor visas" believed to be the type held by Abramovich.
The claims "dirty" Russian money is being laundered through the City undermines the government's efforts to take a tougher stance against Moscow's "aggressive foreign policy", say MPs.
TIER-1 INVESTOR VISAS
Thee Tier-1 investor visa which Roman Abramovich is reported to use is available for anyone wanting to plug £2million into the British economy.
The Home Office stipulates that anyone wishing to do so must prove they have accesss to £2million in investment funds and they can apply as early as three months before moving to the UK.
It costs £1,623 to apply for and a decision is normally made within three weeks. But the richest applicants can fast-track this by paying an additional £10,500 for the "super-premium service".
This service will see the application assessed within 24 hours, though if additional information is needed then extra fees apply.
Once recieved, the applicant can live in the UK for three years and four months.
However, at its expiry, you can apply to extend it, or, if you've invested enough money, request to settle in the UK permanently.
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May has vowed to clampdown on Russian money but a report by parliament's Foreign Affairs Committee accused her government of failing to back up its threats with action.
"There is no excuse for the UK to turn a blind eye as President Putin's kleptocrats and human rights abusers use money laundered through London to corrupt our friends, weaken our alliances, and erode faith in our institutions," said committee chairman Tom Tugendhat.
"The scale of damage that this 'dirty money' can do to UK foreign policy interests dwarfs the benefit of Russian transactions in the City."
Meanwhile, questions are now being asked as to what the future may hold for Chelsea FC.
Abramovich bought the football club in 2003 for £140m, turning it into one of the world's leading clubs by personally bankrolling its squads.
In recent years, however, he has spent much less time at Stamford Bridge.
He was regularly seen in his owner's box at the start of the season, but has been increasingly vacant throughout 2018.
Although flight records show his private jet was last in London on April 1, his lack of interest may be due to Chelsea's poor second half of the season, rather than a loss of interest in the project as a whole.
WHAT HAPPENS NEXT?
The 700 wealthy Russians who received their investor visas in the years prior to 2015 will no doubt be concerned about their ability to have them renewed.
Many, however, many have already gone on to successfully receive the so-called "right to remain", an option available to those living in Britain on investor visas after five years.
These businessmen are allowed to remain in the UK indefinitely, provided they spend a certain amount of time in the country.
However, it's not yet clear what action might be taken for those who might have received the Tier-1 visa and the following Right to Remain with ill-gotten capital.
It could mean that these privileges are cancelled, or upcoming attempts to renew their Tier-1s are declined.
The UK Government does allow these privileges to be revoked if the applicant is later found to have deceived assessors.
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