Revolut’s billionaire co-founder and CEO, Nik Storonsky, has switched his residency back to the UK, months after a Companies House filing erroneously listed his address as the UAE, the Financial Times reports.

In October, a filing from Storonsky’s family office changed his address to the UAE, prompting concern from UK regulators.

The family office has now corrected the record, restoring his UK residency. Born in Russia, Storonsky is a British citizen.

In an interview cited by the FT, Storonsky described reports of his move to the UAE as “fake news,” explaining that he divides his time between the UK, Europe, Dubai, and Latin America.

He added that, “from the family office’s point of view, since I’m also a director, they used my Dubai address for correspondence.”

The FT notes that Revolut has not publicly acknowledged the filing error or sought to correct earlier media coverage.

Initial reports in October reportedly led regulators to seek assurances from the fintech. Revolut secured a UK banking license in 2024 after a three-year wait but remains in a “mobilisation” period before full authorisation.

UK Chancellor Rachel Reeves has reportedly clashed with Bank of England Governor Andrew Bailey over accelerating Revolut’s banking authorisation, with Reeves keen to see the fintech fully licensed as soon as possible.

Storonsky’s brief departure from the UK also sparked broader concerns about the country’s appeal to entrepreneurs.

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