UK billionaire Ratcliffe's Monaco tax residence confirmed

LONDON: Brexit-supporting British billionaire Jim Ratcliffe, head of the Ineos group, has officially relocated to the tax haven Monaco, according to UK company records disclosed this week. Ratcliffe's residency there, which had been previously reported by British newspapers but not confirmed, was documented in filings for Hampshire Aviation, a private aviation company he is a director of, at Companies House.

The 67-year-old boss of petrochemicals firm Ineos and one of Britain's richest men has often been labelled a recluse but has raised his global profile with recent forays into the world of sport with Formula One team Mercedes.

He made headlines in 2015 by publicly backing Brexit, a year before the referendum that led to Britain's departure from the European Union, telling the Sunday Times that Britons "don't need Brussels telling them how to manage things".

The newspaper's annual Rich List estimated his fortune at £12.2bn ($15.5 billion, 13.3 billion euros) earlier this year, making him the fifth wealthiest person in the UK.