Key facts
- Hedge fund billionaire Chris Rokos is relocating his residency from the UK to Greece.
- Rokos paid an estimated £330 million in UK taxes last year.
- Greece offers a 15-year tax regime for high-net-worth individuals requiring a minimum €500,000 investment and allowing a flat annual tax of €100,000 on foreign income.
- Rokos's departure could result in an annual loss of approximately £330 million in tax revenue for the UK.
- Rokos plans to open an office in Athens.
Hedge fund billionaire Chris Rokos is relocating his residency from the UK to Greece, a move that could cost the UK government approximately £330 million annually in lost tax revenue. Rokos, founder of Rokos Capital Management, was ranked third on The Sunday Times's list of top UK taxpayers, having paid an estimated £330 million last year. His relocation to Greece is facilitated by a 15-year tax regime for high-net-worth individuals, which requires an investment of at least €500,000 in Greece and allows for a flat annual tax of €100,000 on foreign income. Rokos plans to open an office in Athens. The decision comes ahead of UK Chancellor John Healey's first Budget on October 28, with Healey not ruling out tax increases amid rising government borrowing costs. Rokos has also pledged a £190 million donation to Cambridge University to establish a school of government.