With parts of the UK suffering from freezing temperatures and snowfall it is not surprising that Britain’s Kyle Edmund is moving his base of operations to the Bahamas.
That is what the British No.3 has done according to Laurence Frankopan, the chief executive of Edmund’s management company Starwing Sports. “He has moved out there for tennis off-season preparation mostly and because it’s so convenient as he plays so much in the US, so he has a home away from home, so to speak.”
The Bahamas is a popular destination for tennis players due to the warm climate and its proximity to the United States, a place where many major tournaments are held every year. Former World No.1 Lleyton Hewitt used the island as his base during his playing career. The island also has no income, wealth, or inheritance tax.
By moving to the Bahamas, Edmund’s will no longer have to pay income tax in the UK provided he does not go awry with current rules and regulations. To ensure he does not have to pay income tax in the UK, Edmund may not spend more than 183 days in the country in one year AND must not average more than 91 days annually over four years.
Given that the tennis season is so long and encompasses so much of the globe, it is unlikely that Edmund will meet the threshold. The period of the tour that takes place in the UK is relatively short; a month-long grass season culminating with Wimbledon.
Many other players including Novak Djokovic, and Grigor Dimitrov also list their official residences in tax havens including Monaco. Andy Murray is an exception amongst top players, as he has resided in the UK throughout his adult playing career.
