If You can buy a VPN connection and get a server in UK, then with a bandwidth of 5-6MB/s, You can see the races on BBC online realtime or You can download them after the event. The quality is as good as You can get on the TV, if Your bandwidth is large enough. But beware, You will exceed 10 Gbit of data download a month, if You watch both the qualifying and the races, so get an internet connection with flat rate.
I live in Denmark and use a Strong VPN (www.strongvpn.com/)to watch the races, except this coming weekend – I’ll be present at the track in Spa;-)
Strongvpn has a very good support to guide You through the setup with chat support etc. It is working very well, but be sure to get the right type of solution – ask their support.