Contents tagged with London
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UK shutting down ‘golden visa’ program for wealthy Russians
The British authorities plan to suspend the "golden visa" program, which opened the country’s doors to wealthy individuals, including from Russia.
The program, which requires investing at least 2 million pounds in the British economy, will be closed within a few weeks, the Financial Times reported, citing sources in the government.
The British Cabinet of Ministers is under pressure from the parliament, which in 2020 warned that "golden visas" had become the object of abuse by wealthy …
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Wealthy Russians drive up demand for luxury real estate in London by 50%
The luxury real estate market in London is experiencing explosive growth due to demand from wealthy Russians.
In the first quarter of 2021, the number of requests to buy an apartment in the British capital from Russians with assets exceeding $30 million soared by 50%, reports the news agency RBC, citing a study by consulting firm Knight Frank.
Most of these clients "choose apartments in the elite segment for the purpose of relocating for themselves or children," notes Marina Shalayeva, …
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Russian embassy refuses to recognize massive debt to London
The Russian Embassy in the UK is unwilling to recognize a £5.7 million debt to the London authorities for driving in the city center, TASS reports.
In a comment, the embassy states that the Vienna Convention exempts diplomatic missions from paying “taxes, duties and levies, personal and property-related, state, regional and municipal”.
The diplomatic mission believes that the congestion fee “is by its very nature a tax”.
According to the Russian embassy’s representatives, the British …
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Us court orders return of painting stolen by Nazi from Ukrainian museum
The United States District Court for the Southern District of New York intends to return to Ukraine the painting, which was stolen during the Second World War by the Nazis from a museum in Kyiv, reads the statement published on the court.
According to the United States authorities, based on the testament of collector Vasily Savinsky, in 1924, the canvas of the artist Pierre Louis Goudreaux, was transferred to the National Museum in Kyiv, also known as the Bogdan and Varvara Khanenko Museum of …
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London court seizes Firtash's mansions as part of Russian VTB Bank lawsuit
The London court ordered to seize two of the businessman Dmytro Firtash mansions, reports the Russian newspaper Kommersant.
Interim measures on this and other property, estimated at more than £ 50 million, were imposed at the request of the Russian VTB Bank, to which Firtash has not returned 2.5 billion rubles worth of loans.
The court also ordered the defendant to disclose all of his assets.
According to sources, representatives of VTB Bank filed the lawsuit in the High Court of England and …
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Russian oligarchs fleeing to London at record rate
The UK remains the favorite “end point” for the money of wealthy Russians, who are buying residential and commercial property in the British capital, finanz.ru reports.
In the third quarter, the demand from ethnic Russians for property in London spiked to a record high due to growing tension between Russia and the West.
According to Knight Frank, one in every five houses in London costing more than £10 million was purchased by Russian citizens. In 2016, Russians accounted for only 6% of such …