By Emmanuel Nduka Obisue
Two-time heavyweight boxing champion Anthony Joshua has reportedly relocated to Dubai, becoming the latest high-profile figure linked to a growing trend of wealthy individuals leaving the United Kingdom amid rising tax concerns.
According to corporate filings cited by the Daily Mail, the British-Nigerian boxer now lists Dubai as his place of residence.
The move is widely believed to be motivated by efforts to reduce tax obligations in the UK, where high-income earners face significant fiscal demands.
Dubai, in the United Arab Emirates, does not impose personal income tax, making it an attractive destination for high-net-worth individuals seeking to limit their tax liabilities. Joshua’s business interests are estimated to be worth about $160 million, and reports indicate he could have faced a tax bill of around $11 million in the UK in 2024.
The development comes amid what analysts have described as a “millionaire exodus” from Britain. The Office for Budget Responsibility has projected that an additional 50,000 people, mostly British citizens, could leave the country annually. Figures from the Office for National Statistics show that about 257,000 British nationals emigrated in the year ending December 2024.
Joshua, who has Nigerian heritage and also holds Nigerian citizenship, remains one of boxing’s most recognisable figures after winning multiple heavyweight world titles during his career. His relocation comes even as the Gulf region has faced heightened tensions following recent retaliatory strikes by Iran in parts of the Middle East.
Several other wealthy Britons and UK-based billionaires have also relocated abroad in recent years, citing the country’s tightening tax regime. Steel magnate Lakshmi Mittal, once one of Britain’s richest men, is reported to have left the UK after nearly three decades and shifted his tax residency to Switzerland while spending time in Dubai. Hedge fund billionaire Michael Platt, co-founder of BlueCrest Capital, also moved his primary residence and family office to Dubai to benefit from its favourable tax environment.
Shipping tycoon John Fredriksen has similarly scaled back his London presence and moved operations overseas, while Revolut co-founder Nik Storonsky relocated his residency to the United Arab Emirates ahead of expected tax increases.
Former Manchester United defender Rio Ferdinand has also acknowledged relocating to Dubai, citing Britain’s high tax rates as a factor.
