Chris Rokos to relocate tax residency to Greece

Chris Rokos, founder of Rokos Capital Management, is preparing to change his tax residency from the UK to Greece and is expected to open an office in Athens, according to people familiar with the plans.

Unnamed sources provided details of the arrangement. Rokos Capital did not respond to requests for comment. The timing of any residency change has not been disclosed.

Greece operates a 15-year tax regime for qualifying high-net-worth individuals under which eligible foreign residents can pay a flat annual tax of €100,000 on foreign-source income. Italy has a comparable 15-year programme with a recently increased flat annual tax of €300,000 for qualifying residents. The UK has replaced its long-standing non-domiciled regime with a four-year Foreign Income and Gains (FIG) regime that provides full relief from UK tax on qualifying overseas income and gains for that period.

The UK also introduced changes affecting wealth, inheritance, capital gains and private equity taxation in recent years. Those changes have led some wealthy investors and executives to weigh alternative residency options.

Rokos founded Rokos Capital Management in 2015. The macro hedge fund manages about $22 billion in assets. Rokos previously worked at UBS, Goldman Sachs and Credit Suisse, and co-founded Brevan Howard Asset Management with Alan Howard. His estimated net worth is around $4 billion.

He was ranked third on the most recent list of the UK’s largest individual taxpayers, with a reported UK tax bill of £330 million. A change in tax residency would affect how his foreign income and gains are treated under UK and foreign tax rules.

No further details about office plans in Athens or the residency timetable were made public.