Have other rich businessmen been able to find refuge here?Yes, especially the so-called Russian oligarchs. The best known is Boris Berezovsky, who, fearing arrest in Russia, fled to London in 2001, where he was granted political asylum. He was charged with fraud and political corruption, but British courts have rejected all three attempts to get him extradited to Russia.
On 29 November 2007, a Moscow court found Berezovsky guilty of massive embezzlement, and sentenced him to six years in jail. The court held that he had stolen 214m roubles (£4.5m) from Aeroflot through fraud, and ordered him to repay it. Berezovsky called the verdict "a farce" and he has successfully argued that the prosecutions are politically motivated to silence his criticism of the Putin regime.
Why do so many Russian oligarchs choose to live in Britain?Our immigration laws certainly benefit the rich. Other oligarchs, including Roman Abramovich, the owner of Chelsea football club, have also used their wealth to establish themselves in this country.
Any non EU-citizen who has a million pounds and wants to live in the UK can apply for a three-year investor's visa. All the businessman has to show is that they have £1m invested in a business, government bonds or another secure asset that benefits the British economy. There are similar immigration schemes for foreign business people with just £250,000 to invest in a UK company which employs at least two UK nationals.
These visas can be extended for another two years after which the visitor can apply for permanent residence. For all those without this kind of financial wherewithal, the choice is either to apply for a points-based worker's visa or a work permit. Again, after five years it is open to the non-UK national to apply for residency. However, the Home Office does make some effort to investigate the origins of the investment so that the UK can be sure that is the money is not proceeds of crime or dodgy business deals.
Don't they end up as non-doms anyway?Once your are a British citizen with interests abroad, you can register for "non-domiciled" status, meaning you do not pay tax on earnings outside the United Kingdom. Under plans which took effect in April, anyone who has claimed non-dom status for seven of the past 10 years will have to pay an annual fee of £30,000.
What if you aren't wealthy?Everyone who wants to live in the UK can only stay here under the six-month visitors rules. If they don't qualify for any of the business-related immigration schemes, and have had their application for asylum rejected, then they will have to leave the UK. Many may choose to move and come back to the UK at a later date. Provided they don't return within six months, this is a lawful way to avoid returning to their home countries.
Are rich foreigners exploiting the UK?
Yes...* Overseas investors take advantage of generous UK visa schemes to gain residency
* London is the city of choice for those seeking to escape prosecution in their homeland
* Extradition can be dragged out for years by those who can afford the best lawyers
No...* UK rules are tough enough to stop the wealthy using their money to flout the law
* The Home Office examines investments to ensure they are not used to gain UK residence
* Foreign millionaires only come to the UK because it is a good place to do business
http://www.independent.co.uk/news/uk/home-news/the-big-question-why-do-so-many-foreign-billionaires-want-to-make-their-home-in-britain-892822.html?service=Print
