However, this is not the only reason: the whole world is fighting for transparency, and Russian capital is only the first in line in this struggle.
Russian capital and citizens have additional risks in the UK – this is indisputable. Despite this, the UK remained a popular and profitable place for investment, asset protection. Real estate sales do not fall, despite the imminent Brexit. Companies open their branches here, invest in startups. Britain remains the financial center, largely due to the fact that the law, despite its complexity and intricacy, continues to be little, but words ahead. At least in monetary matters.
Accounting services for UK companies
In the event that you have connections with the government top, with state companies or those who are under international sanctions, then it will not be easy to stay in the UK. If you are independent of this, you have a reliable business, and the money is backed up with documents, then London and the Kingdom remain at your service.
One has only to take into account that the UK is moving towards transparency: the register of beneficiaries of companies is already available to the public; true property owners will be known through the new bill; partnerships are also required to report; British offshore share data with the metropolis. In case you don’t like it, you need to look for another place. The only problem is that quiet and invisible places simply do not remain.
Therefore, we urge you to work carefully on your assets, on creating legal structures for asset ownership and protection.
Is it dangerous in the UK?
The Russian Embassy in the United Kingdom asks citizens to refrain from visiting Albion. The diplomatic mission believes that the tense situation can lead to conflicts, detentions, and other problems. Diplomats reported that “there is a high probability <…> of harassment or harassment” from law enforcement agencies.
Special attention can be shown when passing the border, including asking to present and unlock digital devices (phones, computers), especially since the laws of Great Britain allow it. They are also urging to keep track of personal documents and belongings so as not to throw “foreign objects”.
This is one of the consequences of the “Scripal case”, because of the poisoning of which, a new wave of confrontation with Russia began. Such a turn will affect every Russian passport holder. However, for wealthy individuals with assets in the UK there are more threats.
In the UK, announced the start of the investigation with the title “Russian corruption and the United Kingdom.” It also became known that they want to review the 700 investor visas that Russians have received in recent years. In addition, it has been proposed to prohibit servicing Russian Eurobonds in the two largest clearing chambers Euroclear and Clearstream.
In addition to measures purposefully introduced against the Russians, the government is considering laws that will take ownership of property more transparent through the mandatory disclosure of the beneficial owner; and which will prohibit British companies from working with individuals from the British analog of the Magnitsky list.
Journalists, public figures, politicians use aggressive rhetoric and demand quick measures against the Russians. Moreover, they even note that it is necessary to separate those who invest criminal money in the British economy, cut them off and punish them. Those who work cleanly and honestly – to ensure the safety of assets.
The devil is not so bad as he is painted?
Experts urge not to panic. Despite the rhetoric, the UK remains the rule of law and respects its laws. Even legal certainty for foreigners, wherever they come from.
It is possible to say with a high degree of confidence that there will be no mass visa reviews, freezing of accounts and other assets. This does not exclude punitive sanctions, which are bound to be imposed. First of all, the sanctions will affect the PEP – politically exposed persons. According to indirect data, it is known that not only billionaires from the Forbes list, but also some officials keep assets in the UK. Despite the fact that, according to Russian laws, this is prohibited, they speak of real estate, which is directly or indirectly owned by high-ranking functionaries of Russia.
They will be the first target for the UK. Against some individuals from Russia, unexplained wealth orders have already been used, which are issued in the event that there is a suspicion that an asset worth more than 50,000 pounds has been acquired for illegal funds.
Yes, it introduces, in fact, a presumption of guilt for foreign citizens, but if there is an opportunity to prove the legality of the funds, there should be no problems. Moreover, a few years ago, wealthy individuals and many PEP faced increased demands on themselves. They provided documents, received visas and, most likely, will be able to live on only if there are no criminal proceeds.
English company Ltd. and bank account for an agency agreement
An important point to keep in mind: criminal proceeds are the proceeds from unlawful acts. At the same time, illegal actions could be perfect, both in the UK and abroad under certain conditions. In other words, criminal funds will try to calculate.
At the same time without permission to deprive of property in the UK can not even the police. First, it is necessary to obtain a warrant that will allow the asset not to leave the field of attention (this procedure has just been simplified), then wait for an explanation from the suspect, receive court approval and only after that confiscate. In addition, they can freeze an asset so that it will not be taken outside the UK or sold.