Tory donors ‘make applications for EU citizenship’ costing 2m euros Broker reports ‘a surge’ of enquiries from British residents seeking a way to retain their European Union citizenship

Wealthy supporters of Boris Johnson‘s election campaign which pledged to “get Brexit done” have privately taken steps to secure citizenship of the European Union.

Cyprus government documents seen by Reuters reveal that Conservative Party donors have applied for citizenship of the EU member state.

Applicants include billionaire Alan Howard, one of the UK’s most famous hedge fund managers, and Jeremy Isaacs, the former head of Lehman Brothers for Europe, the Middle East and Asia. Both men’s applications have been recommended for approval, according to Reuters.

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The move by individuals whose careers have been built upon assessing risk suggests a lack of confidence in Britain’s economy after it leaves the EU.

‘Surge’ of enquiries

A broker who makes a living handling such passports has reported “a surge” of enquiries from British residents seeking a way to retain their European Union citizenship.

“Brexit is the only factor driving this,” said Paul Williams, chief executive of passport brokerage La Vida Golden Visas.

A person’s right to live, work, study or do business anywhere in Europe “all changes with Brexit”, he added.

Read more: The general election result means my future as an EU citizen after Brexit has never been more under threat

According to Britain’s Electoral Commission, Mr Howard donated at least £129,000 to the Conservative Party personally and through his company between 2005 and 2009.

Mr Isaacs made personal and corporate donations of at least £626,500 to the party, £50,000 of it assigned to The In Campaign, a group lobbying to remain in the EU.

Two million euroes

Cypriot citizenship costs a minimum of two million euros of which at least 500,000 euros must be permanently invested.

Applicants are not obligated to live in – or even visit – the country during the application process.

The revelations follow Mr Johnson’s landslide election victory last week in a campaign that was dominated by Brexit.

On Friday, MPs passed the Prime Minister’s revised Brexit bill by 358 to 234, a majority of 124.

The vote paves the way for the UK to leave the EU at the end of January 2020.