Russian businessman Roman Abramovich applied for residence permit in the canton of Valais in Switzerland.
According to Swiss publication Sonntags Zeitung, Abramovich first applied for residence permit in the summer of 2016, when he requested permission to stay in the city of Verbier. After about a year, the petition was withdrawn.
In November 2017, Abramovich decided to ask for residence permit in Switzerland again. The businessman, Sonntags Zeitung said, sent a two-page letter to the head of the Federal Police Department, Nicolette della Valle, in which he explained that he would like to resume his residence permit application.
Abramovich, the newspaper said, is seeking residence permit in Switzerland out of "public interest." It is worthy of note that another prominent Russian businessman Mikhail Khodorkovsky had obtained his residence permit in one of the Swiss cantons in a similar manner.
In the canton of Valais, there is a special tax regime, when holders of residence permits pay taxes on the basis of their living expenses, rather than the evaluation of their personal assets.
Earlier, it was reported that Roman Abramovich had invested in the production of shale oil in the United States. Roman Abramovich Ervington Investments acquired privileged shares of the US-based company Propell Technologies worth $9.75 million. The company sells shares to acquire oil production assets to increase the extraction of energy carriers, as well as to further promote the technology in the US.
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