Why Global Founders Revolut’s CEO Moved to the UAE!
In October 2024, Nik Storonsky, co‑founder and CEO of Revolut, officially moved his residency from the United Kingdom to the United Arab Emirates (UAE). The decision quickly drew global attention—not just because Revolut is valued at around $75 billion, but because it reflects a broader shift in where global founders choose to live, build, and invest.
Storonsky’s move highlights how changes in taxation, regulation, and global business strategy are reshaping the world’s entrepreneurial map.
Why Nik Storonsky Left the UK!
1. Changes to the UK Tax System
The UK recently abolished its long‑standing non‑domiciled (non‑dom) tax regime, which previously allowed foreign residents to avoid tax on income earned outside the UK. For global founders and investors, this change significantly increased personal tax exposure.
In contrast, the UAE offers zero personal income tax, making it one of the most attractive destinations globally for high‑net‑worth individuals, entrepreneurs, and business leaders.
2. Regulatory Challenges in the UK
Revolut’s journey in the UK has not been without obstacles. Despite its scale and global success, the company faced lengthy delays and complex requirements in securing a full UK banking license.
The UAE, by comparison, provides a more agile, business‑friendly regulatory environment, especially for fintech and financial services companies. Clear frameworks, faster approvals, and strong government support make it easier for innovative firms to operate and scale.
3. Strategic Expansion into the Middle East
Storonsky’s relocation also aligns with Revolut’s global expansion strategy, particularly its growing focus on the Middle East.
The UAE acts as a gateway to:
- Regional capital and sovereign wealth funds
- A fast‑growing digital economy
- Access to investors across the Middle East, Africa, and Asia
Having leadership physically based in the region strengthens partnerships, regulatory engagement, and long‑term growth plans.
Why Nik Storonsky Chose the UAE!
Key reasons behind the move:
- Zero personal income tax after the UK scrapped the non‑dom regime
- Faster, clearer fintech regulations compared to UK complexity
- Delayed UK banking license challenges for Revolut
- Strategic Middle East expansion and access to regional capital
- Stable economy, global connectivity, and premium lifestyle
- Strong real estate returns and long‑term residency options
A Broader Trend: Entrepreneurs Leaving the UK
Nik Storonsky is not alone. His move reflects a wider exodus of wealthy individuals and founders from the UK, driven by:
- Higher taxes
- Reduced incentives for global talent
- Increasing regulatory complexity
At the same time, the UAE continues to attract global entrepreneurs with its political stability, world‑class infrastructure, safety, and lifestyle advantages.
The Real Estate Advantage in the UAE
Beyond tax and regulation, the UAE—especially Dubai and Abu Dhabi—offers compelling real estate benefits for global founders:
- Investor‑friendly property laws, including freehold ownership in designated zones
- Strong rental yields compared to global cities like London and New York
- Long‑term residency options, including Golden Visas linked to property investment
- A stable, growing market supported by population growth and international demand
For entrepreneurs relocating their families and businesses, real estate in the UAE is not just a lifestyle choice—it is a strategic investment.
Many founders see property ownership as a way to diversify assets while benefiting from the country’s long‑term economic vision.
What Storonsky’s Move Signals
Nik Storonsky’s decision sends a clear message: global business leaders are choosing ecosystems that support growth, innovation, and wealth preservation.
The UAE has positioned itself as more than a lifestyle destination—it is becoming a global hub for fintech, startups, and international capital.
As more founders follow this path, the shift from traditional Western business centers to forward‑looking markets like the UAE is becoming impossible to ignore.
Final Thought
Smart founders follow smart ecosystems. With zero income tax, progressive regulation, global connectivity, and a strong real estate market, the UAE is rapidly emerging as the destination of choice for the world’s most ambitious entrepreneurs.
