Brexit-supporter James Dyson to move Dyson HQ to Singapore

James Dyson founder and chairman of Dyson Ltd at a New York event

James Dyson founder and chairman of Dyson Ltd at a New York event

Sir James Dyson, the British billionaire inventor and outspoken Brexiter, is moving the headquarters of his vacuum cleaner and hair dryer technology company to Singapore.

"An increasing majority of Dyson's customers and all of our manufacturing operations are now in Asia; this shift has been occurring for some time and will quicken as Dyson brings its electrical vehicle to market", the company said in a statement.

Right now it's just two top executives who will be based in the city-state as the company changes its registered base from the United Kingdom - effectively a "brass plate" administrative move.

Based in Malmesbury, Wiltshire, Dyson made headlines previous year when announcing its intention to build a new range of electric cars in Singapore, having first made movements to open factories in Asia back in 2002.

"It allows us to make sure we will be putting our best efforts to secure those opportunities, as well as keeping an eye on those investments, especially EV (electric vehicles) and batteries", Reuters quoted Rowan as saying.

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This is despite founder James Dyson, 71, being a large proponent of Brexit with the firm arguing that a £200 million investment on new testing facilities at Hullavington Airfield, near Chippenham, shows their commitment to domestic jobs.

The company said Tuesday it had a profit of nearly 1.1 billion pounds (almost $2 billion Canadian) last year, up from 800 million pounds (almost $1.4 billion) the year before.

He said the tax impact would be "negligible" and it would continue to pay tax in the UK. "Our Singapore Technology Centre will double in size as we crystallise our investments there, and the Malaysia Design Centre goes into its next phase of development".

"They will come back to us".

Rowan said the company, which broke through the 1 billion pound ($1.3 billion) barrier for annual profit in 2018, was moving to be near its manufacturing centers and the markets where it was seeing the biggest demand.

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Krueger will join Dyson in April to "oversee all aspects of the automotive project as it approaches launch", the company revealed.

"We would describe ourselves as a global technology company and in fact we have been a global company for some time".

Tristan Fewings/BFC via Getty ImagesSir James Dyson presents the Special Recognition award for Innovation on stage during The Fashion Awards 2017.

"We believe that Singapore's advantages are a good fit with Dyson's requirements and have made Singapore a natural choice for their relocation", he added.

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