Revolut CEO Nik Storonsky Relocates to UAE
Nik Storonsky, co-founder and CEO of digital banking fintech Revolut, has moved his residency from the UK to the United Arab Emirates (UAE).
This decision follows the UK government's abolition of the non-domiciled (non-dom) tax regime, a nearly 200-year-old tax break that allowed wealthy foreign nationals to shield overseas income from UK taxes.
The abolition of this rule has prompted a wave of ultra-rich individuals and CEOs to leave the UK in search of more favorable tax environments.
Author's summary: Revolut CEO relocates to UAE amid tax changes.