Norfolk-born James Dyson ditches Brexit Britain for Singapore headquarters
PUBLISHED: 15:58 22 January 2019 | UPDATED: 16:42 22 January 2019
Norfolk-born Brexit-backer Sir James Dyson is to relocate the Dyson head office from the UK to Singapore.
Mr Dyson, who was born in Cromer and educated at Gresham’s in Holt, has revealed that Singapore will become the company’s registered headquarters and tax base.
The headquarter switch from Malmesbury, Wiltshire, is likely to prove controversial given that Sir James - the company’s billionaire chairman, founder and owner - is an outspoken proponent of Brexit.
It is the second blow Dyson has dealt to Brexit Britain after last year’s announcement that it will manufacturer its new electric cars in Singapore, rather than the UK.
In justifying the move, chief executive Jim Rowan dismissed the idea of Brexit and lower taxes being a motivation.
“The move is nothing to do with Brexit or tax, it’s about making sure we are future proofed. There are huge revenue opportunities in Singapore, China is the poster child of that,” he said.
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“The tax difference is negligible for us, we are taxed all over the world and we will continue to pay tax in the UK. We will continue to invest in the UK, in Malmesbury, in Bristol and London.”
Mr Rowan confirmed that Sir James was integral to the decision to ditch Britain.