Nassef Sawiris’ UK exit for Italy catches the attention of the foreign press

Nassef Sawiris waves goodbye to the UK: Egypt’s richest man is catching the attention of the international press, with Bloomberg reporting that Nassef Sawiris — the b’naire co-owner of Premier League side Aston Villa — has officially relocated to Italy, the latest in a wave of wealthy individuals exiting the UK amid mounting tax pressures.

Sawiris’ departure had been in the works for some time: Bloomberg reported earlier thisyear that he was exploring alternatives to the UK, and Italy appears to have won him over with its flat annual tax of EUR 200k on overseas income for wealthy new residents. The filings also show that Sawiris stepped down in November from the London arm of his family office, NNS Group, just a few months after it re-registered in Abu Dhabi — marking a broader shift in his business and residency footprint.