Sir James Dyson has announced that he is to move his Malmesbury, Wiltshire head office to Singapore, which means the company will no longer be British registered.
Dyson who is a staunch pro-Brexiteer said this relocation is nothing to do Brexit. Dyson announced last year that he will be manufacturing their new electric cars from Singapore, and not the UK.
Jim Rowan, chief executive for Dyson who is currently based in Asia, was clear the move to Asia is not Brexit related. Rowan said, “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.”
In a statement the company said, “An increasing majority of Dyson’s customers and all of our manufacturing operations are now in Asia; this shift has been occurring for some time and will quicken as Dyson brings its electric vehicle to market.
“We are now at a point where Dyson’s corporate head office will relocate there to reflect the increasing importance of Asia to Dyson’s business.”
The company further announced their profits had surpassed the £1bn mark in 2018.