Billionaire Chris Rokos to Leave UK for Greece

Chris Rokos, the founder of Rokos Capital Management and one of the United Kingdom's highest taxpayers, is reportedly moving his residency to Greece. Rokos was ranked third in the Sunday Times Tax List, having paid approximately £330 million to the Treasury last year. He plans to open an office in Athens as part of the move, which was first reported by Bloomberg.

Greece attracts high net worth individuals with a tax regime that allows foreigners to pay a flat annual tax of €100,000 on global income provided they meet certain investment criteria, such as investing at least €500,000 in Greek assets. Other European nations, including Italy, have introduced similar incentive schemes to attract wealthy foreign residents.

Rokos has a history of significant contributions to British institutions. He is an Oxford graduate who attended Eton College on a scholarship and recently donated £190 million to the University of Cambridge to establish the Rokos School of Government.

The move comes as Chancellor John Healey prepares for the autumn Budget on October 28. While Healey has stated he wants Britain to be a country of wealth creation, he has refused to rule out further tax rises to control government spending. The current government has also introduced policies targeting the super wealthy, including changes to the non-dom tax regime. Other high profile exits include Lakshmi Mittal, Nassef Sawiris, and Richard Gnodde.

Government representatives have defended the UK as an attractive destination for talent and investment. Conversely, critics and opposition figures argue that the departure of wealth creators reduces opportunities for young people and increases the tax burden on others. Some tax experts note that while individual exits are high profile, official data on the overall scale of the exodus of non-domiciled residents remains limited.