` Oil Tycoon ` Mikhail Khodorkovsky ‘ has been `Granted ‘ a `One-Year Permit ‘ in Canton St Gallen Switzerland ‘

#AceFinanceNews – GENEVA – March 30 – Former Russian oil tycoon Mikhail Khodorkovsky has been granted a one-year resident permit in Switzerland and plans to settle in Canton St. Gallen, Switzerland’s migration authorities said on Sunday.

“His application was approved,” Martin Reichlin, a spokesman for the Federal Migration Office, told Itar-Tass over the phone, adding that Khodorkovsky’s one-year resident permit could be prolonged.

The permit was granted to Khodorkovsky on March 27. According to Reichlin, the 50-year-old former Russian oligarch has opted to settle in St. Gallen, since his family is living in this canton.

At the same time, Reichlin did not rule out that Khodorkovsky had been guided by considerations of favourable taxation environment.

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` Khodorkovsky submits request for permanent residency in Switzerland ‘

#AceFinanceNews Mikhail Khodorkovsky has submitted a request for permanent residency in Switzerland, the spokesman for the ex-oil tycoon told Reuters.

The 50-year-old has been living in Switzerland since January, with the country granting him a three-month Schengen visa. Khodorkovsky, who used to be Russia’s richest man and owner of the Yukos oil company, was freed from prison in December after serving over a decade on fraud and embezzlement charges.

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