Rich Russians seek safe haven for their fortunes in Israel

2022 March 12

Wealthy Russians are following Roman Abramovich’s lead and investing in Israeli property as sanctions in Europe and the US bite. Estate agents and tax lawyers report an influx of interest from Russians buying beachfront homes and building plots in Tel Aviv. A key incentive is that citizens do not have to declare or pay tax on foreign income for the first ten years. Another is the discreet agreement between Russian and Israeli intelligence services that neither carries out assassinations in each other’s territory.

Russians with Jewish ancestors, such as Abramovich, can automatically apply for Israeli citizenship through the Law of Return. Harel Perlmutter, head of tax for Barnea, an Israeli law firm, said he had had inquiries from “millionaires and billionaires, and yes, oligarchs, looking to move to Israel”. Although it was “almost impossible” to wire money to Israel from Russia it could be done via London or New York “quite easily”, he added.

Russian and Ukrainian Jews are looking to immigrate to Israel. More than 5,000 Ukrainian Jews have already put in calls to the special Jewish Agency hotline and about half of the callers expressed interest in immigrating to Israel immediately.

“We call on the Jews of Ukraine to immigrate to Israel – your home,”

Israel’s Ministry of Immigration said in a statement on February 26. Wealthy Russian Jews are buying up property and viewing Israel as a safe haven in a world that has turned against them. This in turn pumps huge wealth into Israel. This could be one of the catalysts to bring Gog/Putin down into Israel because he comes to take a spoil. Putin will not tolerate Israel becoming rich on the back of the Ukraine war whilst Russia suffers economic collapse and isolation….

I will go up to the land of unwalled villages; I will go to them that are at rest, that dwell safely, all of them dwelling without walls, and having neither bars nor gates,  To take a spoil, and to take a prey; to turn thine hand upon the desolate places that are now inhabited, and upon the people that are gathered out of the nations, which have gotten cattle and goods, (Ezekiel 38:11-12)

 

Andy Walton

Find this week’s: Weekly World Watch

+++

Related

1. Chelsea owner Roman Abramovich sanctioned by EU over ‘long and close ties’ to Russian President Vladimir Putin
2. Chelsea owner, Roman Abramovich’s jet among 100 planes grounded by US Govt
3. Russian Oligarch’s $50 Million, 200 Acre Aspen Property Could Be Seized- Affordable Housing Opportunity?
4. UK govt to amend Chelsea sanctions
5. Yacht Linked To Russian Oligarch Abramovich Docks In Turkey’s Bodrum – Shipping Data
6. ‘Go Away, Russian Ship!’ Ukrainian Sailors Block Abramovich’s Superyacht in Turkey
7. Second Abramovich Superyacht Docks In Sanctions – Free Turkey
8. British governments should, in future, choose better associates and suppliers