Chris Rokos leaves the UK for Greece as columnists warn of millionaire exodus

Stay connected to Greek City Times for Free on Google News
Click NOW

Hedge-fund billionaire Chris Rokos is moving his tax residence from the United Kingdom to Greece, prompting British columnists to ask who will be the last millionaire to leave.

Rokos, 55, founded Rokos Capital Management, which manages about $22 billion. He was the UK’s third-biggest individual taxpayer last year, paying an estimated £330 million. He also received about £477 million from his fund after a strong year.

He plans to become a Greek tax resident and to open an office in Athens. Rokos Capital Management has declined to comment. The Financial Times reported Greek officials courted him for months and that the Athens team could grow towards 50 people.

Why Chris Rokos leaving the UK matters

Daily Mail columnist Robert Hardman asked who would be “the last millionaire to leave Britain for sunny, low-tax Greece.”

The Mail said a taxpayer on Rokos’s scale could cost the Treasury close to £2 billion over five years. Tax expert Dan Neidle told the BBC that £330 million a year would fund thousands of teachers.

Rokos has deep UK ties. He attended Eton on a scholarship and has funded British universities, including a reported £190 million gift to Cambridge.

His move follows the end of the UK non-dom regime in April 2025 and speculation about further tax rises in the autumn Budget.

Greece tax regime attracting wealthy residents

Greece offers qualifying foreigners who transfer tax residence a flat €100,000 a year on foreign-source income for up to 15 years, usually after investing at least €500,000. Overseas assets can also sit outside Greek inheritance tax.

For hedge-fund and private-equity executives, Athens has cut tax on bonuses and carried interest to 5% from 15% if the employer runs a substantial local operation.

Other draws include the Golden Visa, pensioner tax deals, the Athenian Riviera, Vouliagmeni, Ekali, and the Ellinikon project on the site of the old Athens airport.

Greece is now competing with Switzerland, Monaco, Italy and the UAE for high-net-worth residents.

Jim Ratcliffe says Britain is “on the slide”

Ineos founder and Manchester United co-owner Sir Jim Ratcliffe, a Monaco tax resident since about 2020, told the BBC that Britain “was once a fantastic place” but is now “on the slide.”

Ratcliffe, worth an estimated £15 billion, blamed high taxes and high immigration. He said the US applauds wealth creation while Britain treats it with suspicion, and called the lack of investment in North Sea oil and gas “insanity.”

Labour politicians said a tax exile lacked the moral high ground. The UK government said Britain remains attractive for talent and investment.

Will other UK millionaires move to Greece?

Rokos is the highest-profile financier yet to choose Greece. One relocation will not empty Mayfair. It does signal that Athens is now on the same shortlist as traditional low-tax centres.

Britain’s test is whether it can keep large taxpayers after the non-dom era. Greece’s test is whether headline moves translate into offices, investment, and jobs.

Stay updated with the latest news from Greece and around the world on greekcitytimes.com.
Contact our newsroom to share your updates, stories, photos, or videos. Follow GCT on Google News and Apple News.