The rapper and his reality TV star fiancée Kim Kardashian welcomed their daughter North into the world in June. It was thought they were planning to settle in Los Angeles where they have paid for extensive renovations on their mansion, but it seems plans might have changed.
"Kim and Kanye see London as the next phase of their empire growth. The US is pretty much a saturated market for them now, but their business people reckon that London could be their new LA," an insider told British magazine Heat.
"Kanye talks a lot about how he wants his kids to attend the same boarding schools that Kate Middleton and Prince William did. He wants them to go to Oxford, grow up alongside royalty and to be part of the elite."
Kim is apparently excited about how much potential there is for her to grow her brand in the UK. She is said to be considering opening a branch of the DASH clothing store she has with her sisters Kourtney and Khloé and is hoping to start working on joint ventures with Kanye.
The couple have already started to think about where they will live, with claims they considered putting an offer in on Victoria and David Beckham's mansion. Dubbed Beckingham Palace, the property is in the countryside rather than the city.
"They considered putting a bid on the Beckhams' old property because they initially thought it was a palace and in London, but once they saw the details they changed their minds," the source explained.
Another told British magazine Closer: "Kim really looks up to Victoria Beckham - she's her role model. She's been following Victoria's career with interest, even getting one of her assistants to do up a big bio of her so she can study her career. Kim has met Victoria and really likes her - and Kanye actually used to know her quite well a few years ago, through music friends. Kim has been encouraging him to call her up and to suggest a dinner in London so they can get her advice on the city."
Moving to London will also make things easier for Kanye, who spends a lot of time in Paris and is known to love the French capital.
Even Kim's mother is said to be excited by the plan. While Kris Jenner won't be uprooting her life completely, she is excited by the idea of being in the UK more.
"She looks at London, sees all the power players of the world and wants to be moving in those circles," a source added to Heat. "She wants [her daughter] Kendall to sign to a European modelling agency for luxury label work."