Revolut CEO and co-founder Nik Storonsky officially changed tax residency from UK to United Arab Emirates in October 2024 according to Companies House filings. Move could save him more than £3 billion in UK capital gains tax. Storonsky had been critical of UK's 'extreme bureaucracy' and regulatory landscape. Changed residence from England on October 16, 2024.
person
Nik Storonsky
CEO Revolut
Co-founder and CEO of Revolut. Born in Russia with Ukrainian heritage. Renounced Russian citizenship in October 2022 in opposition to Ukraine war. Moved residency to UAE in October 2025.
Career History
Track Record
$3.9B
Sources: The Irish Times(opens in new tab)
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Renounced Russian citizenship in opposition to Ukraine war, matched Red Cross donations
Oct 31, 2022Revolut CEO Nik Storonsky renounced his Russian citizenship in October 2022, becoming the fourth billionaire to do so over Ukraine. In March 2022 he condemned the invasion as 'wrong and totally abhorrent.' Revolut matched donations to Red Cross Ukraine up to £1.5M, waived transfer fees to Ukraine, and suspended operations in Russia and Belarus.