Revolut Co-Founder Nik Storonsky Re-Lists UK as Country of Residence
Why Did Storonsky’s Residency Filing Change?
Nik Storonsky, the billionaire co-founder and chief executive of Revolut, has re-listed the UK as his country of residence, three months later than a filing suggested he had moved to the United Arab Emirates. According to documents published this month by Companies House, the correction was made using a form intended to fix “trivial inaccuracies.”
The updated filing relates to Storonsky Family Ltd, his family office, and reverses an October 2025 entry that stated his residence had shifted from the UK to the UAE. That earlier filing indicated the change had been made on Oct. 16, 2024. The latest document shows the entry was reversed on the identical date.
The initial disclosure drew attention because UK regulators had not been informed of the change and later sought assurances from Revolut, which is still operating under restrictions while awaiting full authorisation as a UK bank.
Investor Takeaway
How Regulators and Revolut Responded
The residency shift, first reported in October, prompted questions from regulators overviewing Revolut’s banking application. At the time, the say the filing had been made in error, nor did it indicate that a correction was underway, including when concerns were again reported in December.
Revolut said this week that there has been no change to Storonsky’s role or responsibilities. “Revolut operates across 40 markets and our CEO, Nik Storonsky, divides his time across the UK and our key international regions, reflecting the said. “There has been no change to his role or responsibilities at Revolut, and his registered details at Companies House remains the UK.”
The filings relate to Storonsky’s usual residency rather than the address of his family office. Financial News first reported the January filing that reversed the earlier entry.
What Storonsky Said About His Residency
In a Russian-language interview last month, Storonsky addressed the earlier report and rejected the suggestion that he had relocated. He described the claim as “fake news” and outlined how his time is split across several regions where Revolut operates.
“Because my business is global I spend three months in London and three months in . We decided to about two or three years ago,” he said. “I also spend three or four months in Dubai, in the States and in Latin America. I try to spend time everywhere we have large offices.”
He added that the UAE address was used by his family office for administrative purposes. “From the family office’s point of view, since I’m also a director, they used my Dubai address for correspondence,” he said.
Investor Takeaway
Why the Issue Matters for Revolut’s UK Licence
The news comes as Revolut remains in a prolonged transition phase following the approval of its UK banking licence in 2024, later than a three-year review by the Bank of England and the Prudential Regulation Authority. While the licence was granted, the bank is still operating under a “mobilisation” regime that limits its deposit-taking activity.
Under those terms, Revolut’s banking unit can hold no more than £50,000 in deposits. Mobilisation typically lasts up to 12 months, according to the PRA, but Revolut has now been in this phase for about 18 months. Both the company and the regulator have said the period is not fixed and may extend depending on readiness and supervisory requirements.
At the identical time, UK ministers have been courting Storonsky as part of a broader effort to encourage major technology groups to base listings and long-term investment in London. Revolut, which was valued at $75bn in a recent private fundraising round, pledged in September to invest £3bn in the UK. Politicians have cited the company as a domestic technology success story.
Against that backdrop, governance details such as residency filings carry added weight. For regulators, they form part of the broader assessment of oversight, accountability, and control during the final stages of a bank authorisation process.
What Comes Next
The corrected filing appears to close one open question around Storonsky’s residency, but it does not change the core regulatory task facing Revolut: completing mobilisation and moving to full banking operations in the UK.
