Greece looks good to UK’s rich

Greece could emerge as one of the top destinations for the UK-based mega-rich preparing to leave the country in reaction to Labour Prime Minister Keir Starmer's proposed tax reforms. The new center-left government's plan to scrap the preferential tax treatment traditionally bestowed on wealthy foreigners could spark a mass exodus of the super-rich, advisers and research bodies warn. The "non dom" tax regime, a rule in place for 200 years, allows foreign nationals who have moved their tax residence to the UK to pay no tax on income and profits earned abroad for up to 15 years.

Following Labour's win in July, investment firms, wealth managers and private bankers providing financial services to thousands of UK-based individuals are on high alert amid fears of a tax overhaul, with Greece, Switzerland, Malta, Dubai and the Caribbean emerging as top potential relocation...