General · 1 day ago
Why Britain's second richest person David Reuben moved to Monaco
Photo by Kamilla Isalieva on Unsplash
David Reuben, a property tycoon with a nearly £28 billion fortune, moved to Monaco over the summer, following other wealthy individuals. The Labour government's abolition of the "non-dom" tax status, which allowed people to pay tax only on UK income, is largely blamed for these departures. Monaco does not charge income, capital gains, or inheritance tax, making it an attractive destination for the super-rich.
Reported by Independent · How we write briefs