A source told Heat magazine: "Kanye talks a lot about how he wants his kids to attend the same boarding schools as Kate Middleton and Prince William did. He wants them to go to Oxford, grow up alongside royalty and be part of the elite. They'll be buying a place and love the idea of Chelsea or Kensington."
Plus, the couple also wants to grow their business empires outside of the United States.
The insider added: "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."
Kardashian's momager Kris Jenner is reportedly supportive of the plan. "Kris is in, hook, line and sinker. She looks at London, sees all the power players of the world and wants to be moving in those circles.
"She wants Kendall to sign to a European modeling agency for luxury label work and Kris is pushing for Khloe to be their UK brand ambassador, giving her time and space away from her marital problems with Lamar Odom.
Meanwhile, TMZ.com reports that Kardashian and West are looking at building an enormous house in Bel Air, Calif., near the $11 million home they purchased in January. They are interested in the property because it gives them more privacy than their current mansion.