Hedge‑fund founder Chris Rokos moves tax residence to Greece

Chris Rokos, founder of hedge‑fund Rokos Capital Management, announced he will change his tax residence to Greece and open an office in Athens. The move follows his payment of £330 million in UK taxes for the 2025‑26 fiscal year, the largest single contribution on the Sunday Times Tax List.

Rokos’s decision comes weeks after the Labour government introduced wealth‑tax reforms that end the non‑dom regime, extend inheritance tax to worldwide assets and add a levy on residential properties worth more than £2 million. Those changes have already prompted a modest shift among the country’s top taxpayers: six of the 100 biggest UK taxpayers left the country last year, and one in nine on the list now resides abroad.

With a net worth of about £4 billion, Rokos belongs to a tiny group that contributes a disproportionate share of income‑tax revenue. His £330 million payment represented roughly 0.3 % of total UK income‑tax receipts, according to Treasury data. Labour’s Chancellor‑in‑waiting Rachel Reeves introduced the £2 million home tax in the 2024 budget and oversaw the removal of the non‑dom status in April 2025. The inheritance‑tax changes, which now apply to assets worldwide, were enacted at the same time.

Greece is courting high‑net‑worth individuals with a 15‑year “high‑net‑worth investor” regime that taxes foreign‑sourced income at a flat 7 % rate, caps the tax on such income at €300,000 per year and grants a residence permit that allows family members to work or study. Greek officials said Rokos’s planned office could create jobs and generate up to €50 million in annual tax receipts.

The UK Treasury said it will monitor the emerging pattern of capital flight but has not signalled any immediate policy reversal. A spokesperson reiterated the government’s commitment to a progressive tax system and promised to assess the reforms’ impact on revenue and competitiveness. Labour MPs have called for a review of the high‑value home tax, warning it could dampen property‑market investment, while opposition parties argue the measures may push talent abroad.

Rokos’s relocation highlights a broader risk that other hedge funds and wealth managers could follow, potentially shifting assets and expertise to more favourable tax jurisdictions. The financial‑services sector contributes roughly £130 billion to the UK economy, and a sustained outflow of senior talent could affect long‑term growth.

The next steps include the formal registration of Rokos Capital Management’s Athens office, expected later this year, and the Treasury’s fiscal review slated for the autumn budget. Policymakers will need to balance fiscal equity with the goal of retaining the country’s financial elite.

The move underscores how quickly tax policy can influence the geography of high‑value investment and raises questions about the UK’s ability to remain a premier financial hub while pursuing a more progressive tax regime.