Overview
- This week multiple outlets reported that hedge fund founder Chris Rokos is switching his tax residency to Greece and will open an office in Athens.
- Rokos was listed as Britain’s third-largest individual taxpayer after paying about £330 million last year and earlier this year donated £190 million to the University of Cambridge.
- Greece offers qualifying new residents a flat foreign-income regime of roughly €100,000 a year for up to 15 years subject to residency and a minimum investment, a policy cited as the fiscal incentive for relocations.
- Government ministers declined to link the move directly to policy and emphasised UK strengths, while Rokos’s spokesperson declined to comment on reports.
- Analysts warn the loss may hit future self-assessment receipts but that the full fiscal effect will show only when tax returns arrive next year and as Chancellor John Healey prepares the October 28 Budget.