The Polly Peck founder remains in exile in Northern Cyprus after fleeing Britain before a 34 million fraud trial in 1993.
Mr Nadir, 69, who now runs a media company, has instructed solicitors to clear a path for a possible return.
He wants to ensure he will be released on bail before arguing that any attempt to put him on trial would be an abuse of process.
The Serious Fraud Office said that if he returns he will be put on trial for 66 counts of theft.
Mr Nadir's barrister, Sir Desmond de Silva QC, confirmed that he had been brought in to find out if his client could be held on bail ahead of any trial.
He said: "I have been instructed to consider the position as to the likelihood of him getting bail were he to come back to the jurisdiction to seek to clear his name."