British hedge-fund billionaire Chris Rokos is preparing to move his tax residency to Greece, joining an exodus of wealthy residents that has included Egyptian billionaire Nassef Sawiris, as European countries compete for mobile fortunes following Britain’s abolition of its non-domiciled tax regime.

The Financial Times reported the planned move on Monday, citing people familiar with the matter. Rokos Capital Management declined to comment. Rokos is also expected to establish an office in Athens. The hedge fund manages approximately $22 billion and employs more than 370 people internationally. The Sunday Times Tax List estimated that he and his firm generated a UK tax bill of approximately £330 million, though that number is an external estimate and not a personal tax return disclosed by Rokos.

Greece allows qualifying foreign residents to pay a flat annual tax of €100,000 on income earned outside the country for up to 15 tax years. The arrangement generally requires an investment of at least €500,000 in Greek property, businesses or securities, and applicants must not have been a Greek tax resident for seven of the eight years preceding the transfer. Family members can be included for an additional €20,000 each. The €100,000 payment covers all foreign-source income regardless of amount, while income generated inside Greece remains subject to local tax rules.

Andrew Griffith, Shadow Chancellor of the Exchequer, criticised the impending departure. “Chris Rokos is Britain’s third-highest taxpayer. He has made huge contributions to charities and educational causes across our country,” Griffith said. “Yet another wealth and job creator leaving Britain is bad news for all of us. Whatever your personal finances, wealth creators leaving the UK means fewer opportunities for young people and leaves the rest of us paying more.”

A UK government spokesperson responded that Chancellor John Healey had “made wealth creation one of his top priorities.” The spokesperson added: “The UK is a highly attractive place to live and invest. The UK remains an attractive destination for talent and investment with a competitive and stable tax system, deep capital markets, world-class universities and a highly skilled workforce.”

Rokos’s decision comes ahead of Chancellor John Healey’s first Budget on October 28, 2026. The UK abolished its non-dom regime in April 2025 after critics argued that it allowed wealthy long-term residents to avoid UK tax on income earned abroad. The government has since introduced a new four-year Foreign Income and Gains regime offering 100 per cent relief on overseas earnings for new arrivals.

Sawiris changed his tax residency from Britain to Italy and the United Arab Emirates as the UK prepared to abolish the non-dom regime. Reports indicate he voiced strong criticism of the UK government, blaming what he described as years of poor tax policy decisions for prompting his exit, according to regulatory filings. The Egyptian businessman has interests spanning fertiliser, construction, sports and investment. His departure was among the most prominent examples of internationally mobile billionaires reconsidering Britain as a base.

James Lawson, chairman of the Adam Smith Institute, said: “The public need no convincing of the importance of retaining the nation’s wealthy. If we want to attract and cultivate millionaires and billionaires, Britain must be unashamedly pro-wealth and pro-wealth creation. That means looking again at reforms to the non-dom system, cutting inheritance tax and capital gains tax as well as reducing the red tape clogging up business.”

Italy, Switzerland and the United Arab Emirates have also used different combinations of tax rules and residency programmes to attract wealthy foreign nationals. Until either Rokos or his company confirms the arrangement, the move remains a reported plan rather than a completed relocation.