Here’s the start of my latest article for The Economist:
RICH foreigners are drawn to London by the rule of law, a favourable tax regime, a cluster of big houses, vibrant culture, superb private schools and the presence of other rich foreigners. The country welcomes them: Britain handed out twice as many visas to rich investors last year as it did in 2009. Knight Frank, an estate agent, says 60% of prime London home sales in the year to April were to foreigners, with Russians alone accounting for 11%. Yet some of the capital’s fruits are not readily accessible to even the wealthiest arrivals. As the population of plutocrats has grown, so has an industry dedicated to helping them get their money’s worth.
Read the whole piece here.