Billionaire Chris Rokos plans move to Greece as UK tax regime changes

Chris Rokos, the billionaire founder of hedge fund Rokos Capital Management, is relocating his tax residency from the United Kingdom to Greece. Rokos was Britain's third-highest individual taxpayer in 2025, contributing approximately £ 330 million in taxes. His reported wealth is around £ 2.6 billion.

Rokos decision comes as the UK has significantly changed the way it taxes wealthy international residents. The most important change was the abolition of the long-standing non-domiciled tax regime in April 2025. Under the previous system, qualifying individuals who lived in the UK but were considered domiciled elsewhere could benefit from special tax treatment on income and gains generated outside the country. In certain circumstances, this treatment could last for up to 15 years.

The new system has substantially shortened this period. Under the Foreign Income and Gains (FIG) regime, individuals moving to the UK after spending at least 10 consecutive years outside the country can receive tax relief on qualifying foreign income and gains during their first four years of UK tax residence. After those four years, the special treatment ends and individuals generally become subject to the normal UK tax rules on their worldwide income and gains.

The UK has also changed its approach to inheritance tax, particularly for people with significant assets outside Britain. Under the new rules, an individual's long-term UK residence is more important than their domicile status. Someone who has been resident in the UK for at least 10 of the previous 20 tax years can become subject to UK inheritance tax on their worldwide assets. Importantly, leaving the UK does not necessarily end this exposure immediately. Depending on their residence history, an individual's worldwide assets can remain within the scope of UK inheritance tax for up to 10 years after leaving the country.

Rokos move to Greece comes as the country has established a special tax regime designed to attract wealthy foreign residents. Qualifying individuals who transfer their tax residence to Greece can pay a flat € 100,000 annual tax on their foreign-source income, rather than being taxed under the ordinary Greek rules on that income. However, the regime is subject to conditions, including a minimum € 500,000 investment in Greece in qualifying assets or investments. The regime can apply for up to 15 years, providing eligible high-net-worth individuals with greater certainty over their tax liability on foreign income. As the UK has replaced its former 15-year non-dom system with a four-year regime for qualifying new residents, Greece's longer-term flat-tax option could make the country an increasingly attractive destination for internationally mobile wealth.

Rokos is not the only high-profile wealthy individual to reconsider the UK. Other prominent names reported to have left or considered leaving include Richard Gnodde, former Goldman Sachs international vice-chair, Egyptian investor Nassef Sawiris, and Shravin Bharti Mittal, heir to India's Bharti family fortune.

Source:

Billionaire Chris Rokos, who paid £330m in tax last year, to quit UK  08 September 2026

Reforming the taxation of non-UK domiciled individuals 30 October 2024