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Wealth MagnetIn Monaco, which is less than a square mile in area, Ratcliffe would join Formula One racing driver Lewis Hamilton and cyclist Chris Froome among other U.K. nationals who've become foreign residents of the world's second-smallest country.Ratcliffe, 65, is worth $14.6 billion through his stake in closely held Ineos, the London-based company he's helped build since the 1990s.Earlier MoveIt also wouldn't be the first time that Ratcliffe has said goodbye to the U.K. In April 2010, Ineos announced it was moving its headquarters to Switzerland, partly to save 450 million euros ($522 million) in taxes between then and 2014 .If Ratcliffe leaves the U.K., the decision may mean he's looking to extract untaxed wealth from a company, said James Hender, partner and head of private wealth services at London-based accounting firm Saffery Champness.A move to Monaco could save Ratcliffe tens of millions of pounds on any future dividends he receives since he wouldn't face the U.K.'s top rate of 38.1 percent on such payouts.For Ratcliffe, though, moving to Monaco wouldn't simply be a case of catching a flight there.
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