Dyson says Brexit not behind HQ’s move to Singapore


Dyson has denied that Brexit is the motive for their decision to move their global headquarters from Wiltshire to Singapore.

The company says there will be no job losses among the 4,000 UK staff it employs  and that its UK base at Malmesbury will continue to be developed.

Two executives will move from the UK to the new HQ – chief financial officer Jorn Jensen and chief technical officer Martin Bowen.

Dyson already has a base in Singapore and plans to build its new electric car there, but the firm says it will continue to invest in its UK operation.

This includes £200m for new facilities in Hullavington, £44m to upgrade offices and add new laboratories and a £31m investment in its university –  all in Wiltshire.

Chief executive Jim Rowan said the move was to ‘futureproof’ the company and was not motivated by Brexit or a desire to save on tax.

He added: “We have seen an acceleration of opportunities to grow the company from a revenue perspective in Asia.

“We have always had a revenue stream there and will be putting up our best efforts as well as keeping an eye on investments.

“We would describe ourselves as a global technology company and we have been a global company for some time. Most successful companies these days are global.”

Rowan said Dyson would be registered in Singapore, but added: “Malmesbury has been the epicentre for us and we will continue to invest all over the UK.”

He added: “The tax difference is negligible for us. We are taxed all over the world and we will continue to pay tax in the UK.”

Dyson founder Sir James Dyson has been a supporter of Brexit, but Rowan said Britain’s exit from the EU would have little impact on the firm.

He added that only two to three per cent of their supply chain is in Europe and the firm did not foresee any issues over the movement of goods.

The company revealed full-year results for 2018, with profits hitting £1 billion for the first time – up 33 per cent – and turnover rising 28 per cent to £4.4 billion.

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