Revolut co-founder Nik Storonsky relocates from the UK to the UAE.

Nik Storonsky, co-founder and CEO of Revolut, has officially shifted his residency from the UK to the United Arab Emirates, according to filings at Companies House. The move follows Britain’s new tax rules, which have prompted many wealthy individuals to relocate to more favorable jurisdictions like the UAE.

Source Financial Times

Storonsky, still Revolut’s largest shareholder, made the switch as the fintech awaits its UK banking license and considers a potential public listing. Meanwhile, Revolut is expanding its Gulf operations after receiving a payment services license from the UAE’s central bank.

Founded in London in 2015 by Storonsky and Vlad Yatsenko, Revolut has grown to over 65 million users worldwide. The CEO’s relocation to Dubai signals a strategic shift as the company strengthens its presence in the Middle East and accelerates global growth.