Revolut's CEO said he is a resident of Switzerland

Revolut CEO Martin Gilbert said that he has a residence permit in Switzerland. Bloomberg writes this with reference to documents disclosed in December in connection with the creation of a new division of the fintech company - Revolut Swiss NewCo SA.

Gilbert, who will lead Revolut's board from 2019, has a residence permit in the Swiss canton of Zug, known for its low taxes, Bloomberg noted. Gilbert remains a U.K. tax resident and has no plans to relocate, the agency's sources said. Revolut declined to comment.

Reports of U.K. businessmen choosing a new residence are gaining attention amid tax reform that eliminated the exemption for wealthy residents with overseas income in 2025, Bloomberg writes. Last year, Revolut founder Nicholas Storonsky, one of Britain's richest men, revealed that he had changed his country to the United Arab Emirates. Storonsky still has a home in the UK, Revolut told Oninvest - he spends the time in the country that he "needs in his position." That time is "balanced with the active traveling" Storonsky does as CEO of a global company operating in 39 markets. The company declined to comment on the reasons for Storonsky's move.

Revolut can operate in Switzerland on the basis of a license issued by Lithuania. The company now offers cards, current accounts and transfer and trading services to customers in the country. In October, Bloomberg reported that the fintech company is also seeking a full banking license in Switzerland.

This article was AI-translated and verified by a human editor