UK's third-biggest taxpayer to leave for Greece
Chris Rokos plans to open an office in Athens, reports say, and was ranked third in the Sunday Times's list of the UK's top taxpayers.
A British hedge-fund billionaire, Chris Rokos, has announced his plans to relocate from the UK to Greece, according to the BBC. Rokos, who ranks third among the UK's top taxpayers, is expected to establish an office in Athens. In the past year, he paid £330 million in taxes, and in March, he pledged £190 million to Cambridge University.
The Cambridge donation is the largest single contribution made to a British university in recent history and will be used to establish a school of government named after him. Upon learning of Rokos' decision, a government spokesperson stated, "The UK remains an attractive destination for talent and investment." The chancellor has prioritized wealth creation and emphasized the UK's competitive and stable tax system, alongside its robust capital markets, universities, and skilled workforce.
The reason behind Rokos' departure remains unclear, though Greece's favorable tax rules for foreign residents earning income overseas are believed to be a significant factor. These rules permit qualifying individuals to pay a flat yearly tax of €100,000 (£86,000) on all overseas income. The UK Chancellor, John Healey, is set to deliver his first Budget on October 28, and while he has not ruled out potential tax increases due to rising borrowing costs, he has not provided specific details.
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