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Russian oligarchs run from Putin paying millions for their ‘freedom’

Sanctions against Russia make Russian oligarchs give everything to obtain citizenship in the UK.

Vladimir Putin

As the foreign press reports, Western sanctions against Russia have intensified Russian oligarchs in their quest to leave the country. According to Bloomberg, the number of people applying to the British Embassy for visas and citizenship has doubled. In the first nine months of 2013 their number was 96, for the same period in 2014 – there were more than 160 applicants, Joinfo.ua reports with reference to Bloomberg.

Economic sanctions have led to the fact that there is the high intensity of not only capital outflows, but also the oligarchs.

British visa is issued for such people only in the case of their consent to become an investor, investing at least £ 2 million (more than $ 3 million) in the UK economy.

So far, more than 160 Russian citizens had filed a request for a visa (the so-called Tier 1 visa) in the first nine months of 2014.

Investor Visa (Tier 1 Visa) can be issued to a family (spouse and children under 18). Primarily, this visa is valid for 3 years and 4 months, followed by an extension for 2 years (in the case of £ 2 000 000 investment). It is allowed to live outside the UK up to 180 days a year. English language skills are not required in this case. Timing of permanent residence and citizenship of the UK are determined depending on the size of investment:

An investment of £ 2,000,000 – permanent residency in five years and British citizenship during the sixth year;

An investment of £ 5 000 000 – permanent residency in three years and British citizenship during the fifth year;

An investment of £ 10 000 000 – permanent residency in two years and British citizenship during the fifth year.

The owner of £ 2,000,000 ready to invest in the UK economy through the purchase of the British government/corporate bonds, shares of UK companies or through capital investments in existing companies registered in the UK, has the right to obtain an investor visa.

Moreover, it is not required to confirm the source of funds if the amount equivalent of at least £ 2 million has been on the candidate's personal account in the bank of any country during the last three months.