Relocation as a reputational event

When a change of residence needs a communications plan

Few private decisions draw as much public interest as a prominent person’s choice of where to live. For a business leader, investor or family whose name already appears in the financial pages, a change of address rarely goes unnoticed, and observers seldom assume the reasons are as simple as the principal knows them to be.

The decision may be about family, a new venture or simply a better way of living. From the outside, it tends to be read differently – as a judgement on tax, a loss of faith in a country or a sign that something is about to change. That reading often appears in print before the principal has said a word.

Britain has seen this play out repeatedly since the non-dom regime was abolished, a change first announced in March 2024 and finalised in April 2025 (Spear’s). A number of prominent figures have reportedly left, and the coverage of their departures shows how quickly a private decision becomes a public story.

Chris Rokos: when timing becomes the story

Chris Rokos, founder of the hedge fund Rokos Capital Management, is reportedly moving his tax residence to Greece and opening an office in Athens. He was reportedly the UK’s third-largest individual taxpayer last year, paying an estimated £330 million, and in the same year pledged a record £190 million to the University of Cambridge (LBC).

Rokos himself said nothing, and his firm declined to comment when Bloomberg reported the move. With a landmark gift and a departure in the same year, and no account from the principal, the story was left for others to tell.

Lakshmi Mittal: when politics frames the move

Lakshmi Mittal is reportedly a Swiss tax resident who will now spend much of his time in Dubai, according to The Sunday Times (City AM). The story broke in November 2025, days before Rachel Reeves’s Budget (Gulf News). Reports pointed to inheritance tax rather than income tax as the main concern, but the timing meant the move was read as a verdict on UK tax policy.

The wider pattern

The Times reports that property developer David Reuben has left for Monaco, where his younger brother Simon is already based (Spear’s). Tech entrepreneur Herman Narula has said he plans to relocate to Dubai (The National), and Checkout.com’s Guillaume Pousaz reportedly lists Monaco as his usual residence (Bloomberg).

Four audiences, four readings

The same move is read by at least four audiences, each with its own concerns:

• The home-country press tends to frame departure as desertion, and that framing settles quickly.
• Tax authorities do not lose interest at the border. HMRC has recently written to billionaires with a UK tax footprint asking about their finances (Spear’s).
• Counterparties – banks, partners and boards – may reassess their exposure to someone whose circumstances appear to be changing.
• The new jurisdiction – local press, regulators, banks and prospective partners – will form its own view, often by running checks of its own. Arriving with a clear and consistent account of who you are and why you have come makes that first impression easier to manage.

A single statement rarely satisfies all four.

How to prepare before the move becomes public

Many private entrepreneurs prefer not to announce a move publicly, and that is often a sensible choice: an unprompted statement can attract more attention than the move itself. Discretion, however, is not the same as being unprepared. The aim is to be ready to respond accurately if the move is noticed, rather than having to explain under pressure. Four points are worth settling early:

• Have a holding statement ready, even if you never use it. Moves rarely stay private for long. A short, accurate statement prepared in advance and setting out the business, investment or family reasons for the new jurisdiction, means you can respond quickly if asked rather than leaving silence to be interpreted.
• Check what the public record will show. A director’s country of residence appears in company filings, and journalists watch for changes. Know when a filing will update, so that a routine change does not become the announcement.
• Agree one account. Family members, staff and advisers should tell the same story. A single social media post can reveal or contradict a move before any statement is made.
• Consider the timing. A move that becomes public during a Budget, an election or a policy debate will be read through that moment. Where there is flexibility, plan the sequence accordingly.

No plan guarantees a favourable reception. Where a principal lives is their own decision, and some criticism may be unavoidable. What can be controlled is whether the account people read rests on the principal’s own explanation or on assumptions made in their absence.

To discuss how to prepare for a change of residence, contact our team in confidence.