The 51-year-old's investor visa was not renewed after it expired in April, but he acquired Israeli citizenship this month.
Abramovich's new passport allows the tycoon to visit the UK on business for up to six months per trip.
According to The Times, however, there are restrictions on the number of visits to the UK that Abramovich can make and limitations on the work that he can do while in the country.
The report, citing UK immigration law, claims that business visitors are prevented from living "in the UK for extended periods through frequent or successive visits", which could have an impact on Abramovich's running of Chelsea.
Abramovich has already called off the club's proposed new £1bn stadium development, citing issues over cost efficiency for a ground that would have 18,000 more seats than Stamford Bridge.
A regular visitor to Stamford Bridge to watch Chelsea play, Abramovich does not oversee any day-to-day operations at the club, with control given to director Marina Granovskaia.