Lakshmi Mittal one of the richest Indians in the UK has been based in the UK for 30 years. According to a report by the Financial Times Mittal may leave Britain nearly after 3 decades. The report claims that he arrived at this decision after the Labour government planned to abolish the ‘non-dom’ tax regime. If he actually takes this step Mittal may join some of the richest business persons who relocated to different places due to the new tax policies. The report claims that Mittal has told his close friends that the primary reason for him leaving the UK is because of the governments decision to end tax exemptions on certain foreign income and gains. A close friend of Mittal told the Financial Times “He is evaluating his options and will likely take a decision by the end of the year. There is a strong possibility that he may no longer remain a UK taxpayer.” However the exact name of the country where he may relocate is not yet disclosed in any report. Lakshmi Mittal Residency In UK Lakshmi Mittal has been living in the UK for nearly three decades. Last year he was ranked seventh on the Sunday Times Rich List with wealth of £14.9 billion. Apart from his UK residence Mittal owns other properties in Europe the United States and Asia like a mansion on Kensington Palace Gardens in London and a luxury chalet in the Swiss resort town of St. Moritz.  What Is Non-Dom Tax Regime? The non-domiciled (non-dom) tax regime which has been there in Britain for 226 years. It allows UK residents with permanent homes in foreign countries to avoid paying British taxes on their foreign income. However in March 2024 then Conservative Chancellor Jeremy Hunt announced plans to end the policy. Lakshmi Mittal is one of the world’s richest industrialists and the owner of ArcelorMittal which is the second-largest steel-producing company in the world.