Thai Crypto Investor’s Reform UK Donations Unlikely to Bypass New Overseas Cap Despite Voter Registration

Christopher Harborne, the Thailand-based crypto investor who has given millions of pounds to Reform UK, would be unlikely to circumvent a planned cap on overseas political donations even if he has registered to vote in the UK, it is understood.

Harborne, who also gave Reform leader Nigel Farage £5m as a “gift”, has registered to vote in Hampshire, with a spokesperson for the billionaire saying he decided to become a “registered voter in the UK”.

The move could be viewed as an attempt to help Harborne avoid planned changes to the political donations system, which may impose a £100,000 annual cap on Britons based abroad, as well as measures blocking donations made in cryptocurrency.

The Times reported Harborne’s decision to register to vote as a potential way for him to continue making large donations to Reform, citing an April interview in which he said the government should not be able to stop him donating as he chooses, adding: “Where there’s a will, there’s a way.”

However, the proposed donations reforms, outlined in 15 recommendations in an independent report in March by Sir Philip Rycroft, a former senior civil servant, propose a cap of between £100,000 and £300,000 annually for “British voters living abroad”.

While the definition of this is yet to be decided by ministers, Rycroft’s report indicates the basis should be whether someone is physically based in the UK, not merely if they’re registered to vote. Local councils would decide whether a voter is “normally resident” in the UK for their electoral register address.

Harborne, who has donated £15m to Reform in the past 12 months and gave Farage £5m shortly before the 2024 elections, has been based in Thailand for more than five years, where he uses a Thai name, Chakrit Sakunkrit.

To circumvent the overseas donations cap, he may need to return to live in the UK, making him liable for UK tax on his fortune estimated at over £18bn.

In his report, Rycroft linked taxation to political donation fairness, writing: “Though many individuals’ decisions to move abroad are not financially motivated, it remains the case that wealthy individuals who have chosen to live abroad to have their wealth taxed abroad are nevertheless currently entitled to make unlimited donations to UK political parties.”

“Despite choosing to minimise their contribution to the UK exchequer, these individuals have the opportunity to make potentially gamechanging donations into British politics.”

After the review was published, Communities Secretary Steve Reed said the legislation would apply retrospectively from March, subject to parliamentary approval, citing urgent need to protect UK democracy.

Harborne’s donations gained public attention after the Guardian revealed in April that Farage received £5m shortly before announcing his 2024 general election candidacy.

Farage claimed the money was a gift, exempt from registration rules requiring MPs to declare potential interests in the 12 months before elections. He faces a formal investigation by the parliamentary standards watchdog.

The Reform leader initially said the money was for personal security costs, then claimed it was a Brexit reward. After avoiding questions for weeks, he last week avoided answering what the money was spent on, saying it was “not any of your business” and adding: “It’s an unconditional gift. I can spend it on Ferraris if I want. That’d be entirely up to me… I can do what I want with it. I can put it on the horses.”

Harborne’s representatives were contacted for comment.

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