Dyson To Move Head Office From Britain To Singapore

23rd January 2019

Founder Sir James Dyson has been in favour of Brexit, but chief executive Jim Rowan denied that the move had anything to do with Brexit or tax.

Dyson has announced that it is moving its headquarters to Singapore, from Malmesbury in Wiltshire.

Chief financial officer Jorn Jensen and chief legal officer Martin Bowen will relocate to Asia. Other work at Malmesbury will not be affected and no jobs will be lost.

Sir James Dyson, who founded the appliance-maker in 1991, has been in favour of Brexit, but chief executive Jim Rowan denied that the move had anything to do with Brexit or tax.

"It's to make us future-proof for where we see the biggest opportunities."

Dyson already has a presence in Singapore and in October announced plans to build its new electric car in its new factory there. Most of its products are designed in the UK, but manufactured in Asia.

"The tax difference is negligible for us," added Mr Rowan, who confirmed that the company would be registered in Singapore, rather than in the UK.

"We are taxed all over the world and we will continue to pay tax in the UK."

He added that Britain's departure from the EU would have little impact on the firm and that they had not made any contingency plans for when the UK exits the EU.

"Only 2-3 per cent of our supply chain is in Europe and that goes east and not west. We do look for disruptions in the supply chain, but at this point in time, we don't foresee any issues with the movement of goods."

Dyson also revealed its full-year results for 2018, announcing that its profits had topped £1bn for the first time.


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