Billionaire Hedge Fund Manager Chris Rokos to Move Tax Residency to Greece
Chris Rokos, the billionaire founder of hedge fund Rokos Capital Management, plans to move his tax residency to Greece and open an office in Athens, Bloomberg reported. Mr. Rokos, whose fortune Forbes estimates at about 2.7 billion euros (roughly $3.1 billion), is one of Britain's largest individual taxpayers, ranking third on the Sunday Times' rich list last year after paying roughly 330 million pounds (about $432 million) in taxes. The move comes as Britain phases out its decades-old "non-dom" regime, which had allowed wealthy foreign residents to shield certain overseas income from British taxes. London has replaced it with a four-year "Foreign Income and Gains" scheme offering full exemption on foreign earnings, but Bloomberg reports Greece and Italy now offer wealthy individuals longer tax-relief windows. Greece allows qualifying foreign residents to pay a flat 100,000-euro annual tax on all income earned abroad, and offers a separate 15-year regime for wealthy investors. This summer, Athens further adjusted rules for fund managers and private equity firms to avoid double taxation;…
