The entrepreneur has reportedly sold his Oxfordshire estate and will spend his sixties living on Necker - the island he bought in the 1970s and recently rebuilt after a devastating fire.
The Sunday Times reported that the move meant the entrepreneur would not be required to pay any tax on personal income made outside Britain, although he would still be taxed on UK earnings.
His companies, which include airlines, balloon flights and health clubs, will also pay a significant amount of corporation tax.
However, in a blog posted on Sunday, Sir Richard stressed he had lived in the British Virgin Islands for seven years and would not live somewhere he did not want to simply in order to pay less tax.
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