UK wants Abramovich to disclose income sources amid visa extension ordeal

UK wants Abramovich to disclose income sources amid visa extension ordeal
Roman Abramovich

London requested the information from the Russian oligarch to decide whether to extend his visa.

The British authorities are going to file a formal request to the Russian oligarch Roman Abramovich asking him to disclose the sources of his wealth before they extend his visa, The Guardian said citing its sources.

According to the newspaper, Downing Street, 10 has recently been considering Abramovich's application for visa extension. The source noted that the attitude towards Russian entrepreneurs is rather cautious; some may easily be denied extension or issue of a visa.

 “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,” a Downing Street spokesman said.

The agency also confirmed it was reviewing the circumstances of the stay of those who received visas as investors, since they are obliged to invest £2 million in the British economy. This would allow such person to stay in the British Isles for 40 months.

They also said that under the 2015 amendments, businesspersons applying for a visa, such as Mr. Abramovich, must provide information on the sources of their wealth. Otherwise, the British authorities will find that the applicant either does not control his or her funds, or that the money was obtained illegally; therefore, granting a visa will not be conducive to the public good.

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