Exclusive: The Brits who won’t Brexit – Reuters
(Reuters) - British Prime Minister Boris Johnson won a thumping election victory last week on a campaign to get Brexit done, but not before some wealthy donors to his Conservative Party quietly took steps to stay inside the European Union.
FILE PHOTO: Britain's Prime Minister Boris Johnson speaks during a final general election campaign event in London, Britain, December 11, 2019. REUTERS/Hannah McKay/File Photo
Cyprus government documents seen by Reuters show that Conservative Party donors have sought citizenship of the island, an EU member state, since Britain voted to leave the bloc in 2016.
They include billionaire Alan Howard, one of Britains best-known hedge fund managers, and Jeremy Isaacs, the former head of Lehman Brothers for Europe, the Middle East and Asia. Cyprus interior ministry recommended that both mens applications be approved, the government documents show.
The Conservative Party won another term in office last week after an election campaign that was dominated by Brexit. Johnson called the election to try to gain a majority in Parliament to push through his plan to take Britain out of the EU early next year.
That some Brits who made a career out of assessing risk have applied for second passports may suggest sagging confidence in Britains economy after it leaves the EU. A broker who makes his living handling such passports says hes seen a surge of enquiries from Brits looking for ways to keep their European Union citizenship.
Brexit is the only factor driving this, says Paul Williams, chief executive of passport brokerage La Vida Golden Visas. The right to live, work, study or set up business anywhere in Europe, says Williams, that all changes with Brexit.
According to Britains Electoral Commission, Howard donated at least 129,000 to the Conservative Party personally and through his company between 2005 and 2009. Isaacs made personal and corporate donations of at least 626,500 to the party, 50,000 of it earmarked for The In Campaign, a group lobbying to remain in the EU.
The Cyprus government documents show that Howard, and Isaacs and his wife all sought Cypriot citizenship in 2018. A spokesperson for Howard declined to comment. Isaacs did not respond to requests for comment. His assistant said he was travelling and unavailable. The Conservative Party didnt respond to requests for comment.
Britain voted narrowly to leave the European Union in 2016 but the details of the countrys future relationship with the bloc are still unclear. Economists have said Britain will be economically poorer under every form of Brexit, compared with staying in the EU.
Cypriot citizenship costs a minimum of 2 million euros of which at least 500,000 euros must be permanently invested. At no point in the application process is the applicant compelled to live in or even visit Cyprus.Cyprus is popular with people seeking a second passport because the entire investment can be in real estate, and it has low taxes.
The Cyprus government documents reviewed by Reuters also list a man named David John Rowland as having sought citizenship. The documents that name Rowland contain scant details, showing only that he applied for a Cypriot passport as part of an investor group.Separate Cypriot company records list a UK national David John Rowland as a director of a company called Abledge Ltd, which was registered on Dec. 31, 2015. These records show Rowlands home address to be on the British tax haven island of Guernsey - the home of the David John Rowland who is aConservative Party donor, former Party treasurer, property developer and financial adviser to Prince Andrew. Reuters couldnt determine Abledge Ltds line of business or any other information about the firm.
A spokesperson for a bank owned by Rowland, Banque Havilland, declined to comment. Repeated requests through another of Rowlands businesses and his personal email address went unanswered. A spokesperson for the palace declined to comment. The Cypriot government declined to comment about any of the individuals named in this story or on the status of a government review of its passports-for-sale scheme, citing EU privacy rules.
Electoral Commission records show that Rowland has donated at least 6.5 million to the Conservatives since 2001, 854,500 of it since the Brexit vote. Prime Minister David Cameron named him Tory treasurer and chief Conservative fundraiser after the millions of pounds he donated to the 2010 general election campaign - to protect Britains liberty and economic future, Rowland told media at the time. He quit before officially taking up the post.
Isaacs was once seen as a successor to Dick Fuld, but ended up leaving Lehman shortly before the global financial crisis. In 2015, he became a Commander of the Order of the British Empire at the Queens birthday honours.
Howard made billions on the 2008 financial crisis by predicting interest rate and currency moves, and profited again on the Brexit vote by accurately tracking voter sentiment, media reported.
When an emergency UK budget raised taxes on the wealthy in 2010, Howard moved to Switzerland. He has since returned to Britain. But last year the master of hedging hedged his bets against holding only British citizenship.
Another British financier who sought Cypriot citizenship is James Brocklebank, a managing partner at private equity firm Advent International. In 2016, he said that even if Brexit were ultimately a good thing, it would create significant challenges and cause the UK to lose out on investment. He applied for Cypriot citizenship in 2018.A spokesperson for Brocklebank declined to comment.
Additional reporting by Tom Bergin and Andrew R.C. Marshall; editing by Janet McBride
Read more:
Exclusive: The Brits who won't Brexit - Reuters
- The European Union just issued a dire warning to its 450 million citizens: Stockpile supplies and prepare for disaster - Fortune - March 26th, 2025 [March 26th, 2025]
- The European Union is preparing for war and is calling for emergency reserves in every home - CiberCuba - March 26th, 2025 [March 26th, 2025]
- The European Union rejected Russias demand for a ceasefire in exchange for lifting sanctions - - March 26th, 2025 [March 26th, 2025]
- Exclusive | European Union to slap Meta with fine up to $1B or more for breaching strict antitrust rules: sources - New York Post - March 26th, 2025 [March 26th, 2025]
- Peter Rough sat down with Kaja Kallas, European Union high representative for foreign affairs and security policy and European Commission vice... - March 26th, 2025 [March 26th, 2025]
- Court of Justice of the European Union: Member states representatives appoint thirteen judges to the General Court - consilium.europa.eu - March 26th, 2025 [March 26th, 2025]
- When the European Union wants to get back to basics - Marketscreener.com - March 26th, 2025 [March 26th, 2025]
- The European Union urges citizens to stockpile supplies to last 3 days in case of crisis - Goshen News - March 26th, 2025 [March 26th, 2025]
- The European Union urges citizens to stockpile supplies to last 3 days in case of crisis - Oil City Derrick - March 26th, 2025 [March 26th, 2025]
- European Union's Transmission Shafts and Cranks Market Expected to Slightly Increase with a CAGR of +0.3% over the Next Decade - IndexBox, Inc. - March 26th, 2025 [March 26th, 2025]
- New European Union Plan To Boost Local Arms Production Would Freeze U.S. Out Of Billions - The War Zone - March 26th, 2025 [March 26th, 2025]
- European Union's Roasted Coffee Market to See Continued Growth with +0.6% CAGR by 2035 - IndexBox, Inc. - March 26th, 2025 [March 26th, 2025]
- EU Penalizes RPM And Other Vertical Conduct Violations - Cartels, Monopolies - European Union - Mondaq News Alerts - March 26th, 2025 [March 26th, 2025]
- European Union's Toilet Paper Market to Reach $27.1B by 2035 with +0.5% CAGR - IndexBox, Inc. - March 26th, 2025 [March 26th, 2025]
- European Union Delays Retaliatory Tariffs On U.S. ProductsIncluding Whiskey - Forbes - March 20th, 2025 [March 20th, 2025]
- ICC President visits Brussels, urges European Union to take immediate action to protect the Court - the International Criminal Court - March 20th, 2025 [March 20th, 2025]
- The European Sting is Your democratic, independent and top quality political newspaper specialized in European Union News. Unique Features: iSting... - March 20th, 2025 [March 20th, 2025]
- The Prime Minister of Slovakia supported Ukraine's integration into the European Union - Eurasia Daily - March 20th, 2025 [March 20th, 2025]
- Trump reacts to European Union slapping tariffs on U.S. goods - CBS News - March 13th, 2025 [March 13th, 2025]
- Rxulti approved in the European Union for adolescent schizophrenia - PharmaTimes - March 13th, 2025 [March 13th, 2025]
- European Union Responds With Tariffs on Soybeans, Other Ag Exports - DTN The Progressive Farmer - March 13th, 2025 [March 13th, 2025]
- European Union retaliates with tariffs on $28 billion U.S. products - RFD-TV - March 13th, 2025 [March 13th, 2025]
- Donald Trump threatens European Union with 200% tariffs on specific goods if they dont remove nasty tax - UNILAD - March 13th, 2025 [March 13th, 2025]
- Canada and the European Union announce retaliatory tariffs against the United States - KREM.com - March 13th, 2025 [March 13th, 2025]
- Commission decides to refer SPAIN to the Court of Justice of the European Union due to discriminatory tax treatment of non-resident taxpayers - The... - March 13th, 2025 [March 13th, 2025]
- European Union hits back with counter tariffs on US goods - USA TODAY - March 13th, 2025 [March 13th, 2025]
- Trade Wars: European Union Retaliates Against U.S. Tariffs on Steel and Aluminum - TipRanks - March 13th, 2025 [March 13th, 2025]
- Commission hosts event to gather input and expertise on upcoming European Water Resilience Strategy - European Union - March 7th, 2025 [March 7th, 2025]
- UNESCO and the European Union Promote Training in Creative Tourism in the Caribbean - UNESCO - March 7th, 2025 [March 7th, 2025]
- The Interests of the European Union and the United States Are Diverging - Modern Diplomacy - March 7th, 2025 [March 7th, 2025]
- Tunisia: Call for the European Union to send international observers to the so-called "conspiracy" trial - FIDH - March 7th, 2025 [March 7th, 2025]
- European Union Blasts Trump Tariff Threats as Starmer Visits White House - Newsweek - February 27th, 2025 [February 27th, 2025]
- Trump vows to slap 25% tariffs on the European Union - FRANCE 24 English - February 27th, 2025 [February 27th, 2025]
- Trump vows to impose 25% tariffs on imports from the European Union - The Associated Press - February 27th, 2025 [February 27th, 2025]
- Trump says tariff level will be 25% on European Union products - Le Monde - February 27th, 2025 [February 27th, 2025]
- EU reaffirms unwavering support to Ukraine on anniversary of invasion - European Union - February 27th, 2025 [February 27th, 2025]
- The European Union is financing a project to strengthen social protection for women in ten local communities in Bosnia and Herzegovina - EEAS - February 27th, 2025 [February 27th, 2025]
- Trump's reciprocal tariffs would hit these European Union products that Americans buy the hardest - CNBC - February 14th, 2025 [February 14th, 2025]
- European Union Says It Will Respond "Firmly, Immediately" To Trump's Tariffs - NDTV - February 14th, 2025 [February 14th, 2025]
- How the European Union could counter US tariffs - ING Think - February 14th, 2025 [February 14th, 2025]
- (Nemolizumab) Approved in the European Union for Moderate-to-Severe Atopic Dermatitis and Prurigo Nodularis - Business Wire - February 14th, 2025 [February 14th, 2025]
- European Union could ban the number 1 Catholic app in the world: Hallow - ZENIT - English - February 14th, 2025 [February 14th, 2025]
- Political contagion in Europe: can the European Union survive Trumpism? - Bruegel - January 19th, 2025 [January 19th, 2025]
- Bolstering the cybersecurity of the healthcare sector - European Union - January 19th, 2025 [January 19th, 2025]
- Medidatas Patient Experience Recognized as Sustainability Solution by the European Union, Paving the Way for Greener Clinical Trials - Dassault... - January 19th, 2025 [January 19th, 2025]
- European Union Special Representative for the Great Lakes Region, Johan Borgstam, makes first official visit to Tanzania - EEAS - January 19th, 2025 [January 19th, 2025]
- Indicating the way forward for sustainable European aviation - European Union - January 19th, 2025 [January 19th, 2025]
- UNHCR and the European Union join forces to provide lasting solutions for Afghan refugees and returnees - EEAS - January 19th, 2025 [January 19th, 2025]
- Irregular migration into the European Union fell sharply last year, border agency says - The Associated Press - January 19th, 2025 [January 19th, 2025]
- Poland Assumes the Presidency of the Council of the European Union - Kyiv Post - January 6th, 2025 [January 6th, 2025]
- Far From Ignorant: The European Union, Arms Exports and Israel - CounterPunch - January 3rd, 2025 [January 3rd, 2025]
- Major changes in the European Union - summary of 2024: everything you need to know in 2025 - Visit Ukraine - January 3rd, 2025 [January 3rd, 2025]
- Hungary's controversial presidency of the Council of the European Union comes to an end - Euronews - January 1st, 2025 [January 1st, 2025]
- 30 years together: Austria, Finland and Sweden in the EU - European Union - January 1st, 2025 [January 1st, 2025]
- AI and Employee Data Protection in the European Union: 8 Key Takeaways for Multinational Businesses - JD Supra - January 1st, 2025 [January 1st, 2025]
- Pro-European Union Protests in Georgia Continue into New Years Eve - AL24 News - January 1st, 2025 [January 1st, 2025]
- 2025, between the reformist drive and the structural challenges of the European Union - The Diplomat in Spain - January 1st, 2025 [January 1st, 2025]
- Statement on behalf of the European Union and its Member States by H.E. Ambassador Stavros Lambrinidis, Delegation of the European Union to the United... - December 30th, 2024 [December 30th, 2024]
- European Union to resume Association Council meetings with Israel - The Times of Israel - December 18th, 2024 [December 18th, 2024]
- Its time for the European Union to rethink personal social networking - Bruegel - December 18th, 2024 [December 18th, 2024]
- Mistral 3 project to receive 60 million from European Union - MBDA - December 18th, 2024 [December 18th, 2024]
- The European Union and Palestinian Authority convene Investment Platform and announce EUR 28.3 million of investments for the Palestine Financial... - December 18th, 2024 [December 18th, 2024]
- The EVERY Company Further Expands its IP Estate with European Union Patent for Recombinant Ovalbumin - Business Wire - December 18th, 2024 [December 18th, 2024]
- European Union sanctions 26 individuals and two entities in Belarus - euneighbourseast.eu - December 18th, 2024 [December 18th, 2024]
- European Union: What do CG&R companies need to know about the European Accessibility Act? - GlobalComplianceNews - December 18th, 2024 [December 18th, 2024]
- New EU norms to reduce environmental impact of smitheries and foundries - European Union - December 14th, 2024 [December 14th, 2024]
- Syria: Statement by the High Representative on behalf of the European Union on the fall of the Assad regime - consilium.europa.eu - December 10th, 2024 [December 10th, 2024]
- European Union and the Gates Foundation to co-host Gavi 6.0 High Level Pledging Summit - Bill & Melinda Gates Foundation - December 10th, 2024 [December 10th, 2024]
- European Union orders TikTok to preserve data related to Romanian election - The Associated Press - December 10th, 2024 [December 10th, 2024]
- European Union - United Republic of Tanzania: Joint Communique of the 2024 Partnership Dialogue - EEAS - December 10th, 2024 [December 10th, 2024]
- Human Rights Day: Statement by the High Representative on behalf of the European Union - consilium.europa.eu - December 10th, 2024 [December 10th, 2024]
- We are waiting to return home - helping refugees in Sudan - European Union - December 10th, 2024 [December 10th, 2024]
- Revised Regulation on Classification, Labelling and Packaging of Chemicals enters into force - European Union - December 10th, 2024 [December 10th, 2024]
- CCS legal framework for the development of carbon capture and storage technologies in Poland and the European Union - Dentons - December 10th, 2024 [December 10th, 2024]
- Mercosur and the European Union sign trade agreement - Fresh Fruit Portal - December 10th, 2024 [December 10th, 2024]
- European Union To Spend Over $4 Million And 3 Years To Create Report On European Animation Industry - Cartoon Brew - December 4th, 2024 [December 4th, 2024]
- Speech by President von der Leyen at the European Parliament Plenary on the new College of Commissioners and its programme - European Union - December 4th, 2024 [December 4th, 2024]
- ASSEMBLY | EU bishops reflect on Europes future and challenges of the new institutional cycle - The Catholic Church in the European Union - December 4th, 2024 [December 4th, 2024]
- Georgia suspends talks on joining the European Union and accuses the bloc of blackmail - The Associated Press - November 30th, 2024 [November 30th, 2024]
- An update on political advertising in the European Union - The Keyword - November 30th, 2024 [November 30th, 2024]