Richard Ng-Zeederberg, a 39-year-old entrepreneur from Worcestershire, has relocated to Gibraltar after deciding to close his businesses in the UK due to what he described as mounting financial pressures. Ng-Zeederberg stated that UK tax laws and increased operating costs, including VAT on school fees, contributed significantly to his decision to shut down his companies, lay off 30 staff, and incur personal debt.
He reported that high rent and business rates forced the closure of his companies, which supplied the London hospitality sector. This economic shift in the UK led him to sell personal possessions, including a car, boat, and plane, to raise funds for a new start. Ng-Zeederberg has since retrained as a HGV driver in Gibraltar.
Ng-Zeederberg described his life in Gibraltar as a significant improvement, citing better weather, friendly locals, and a less stressful environment. He noted that the ease of settling in was aided by English being the primary language and Sterling being the currency. He also expressed dissatisfaction with the UK's points system for driving licenses, fearing it could jeopardize his ability to work.
He detailed his previous UK monthly expenses, including council tax of £2,800 annually, utilities at £500, and car costs of £300, alongside business costs of £10,000 per month. In contrast, his current monthly expenses in Gibraltar are reported as rent at £950, utilities at £80, groceries at £200, dining out at £100, and fuel for his scooter at £30, with no council tax.
Ng-Zeederberg indicated that he does not plan to return to the UK permanently, expressing contentment with his current lifestyle and the supportive nature of his family regarding his move.