‘After the decision for the UK to leave the EU was made, we could not risk any impact to our advisers’ EU passporting status. We took immediate action to Brexit-proof the business and our Cyprus office has been operational for some time. It is a testament to the work of the team on the ground that this licence has now been approved.’ says John Westwood, Founder & Group Managing Director of the Blacktower Group.
‘We remain committed to Gibraltar; we have a strong operations team working from there and are constantly seeking ways to promote the benefits of this jurisdiction. All EU resident clients though will be moved to the Cypriot entities during 2020, enabling us to continue to service our clients in Europe, while Blacktower Financial Management (International) Limited will maintain a book of non-EU clients.’ he confirms.
The development follows the launch of Blacktower Cayman Limited back in November 2019, along with the expansion of the Group’s IFA network, Nexus Global, into the US and precedes plans to expand into Australia, South Africa and UAE later this year.
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
Expats are in many ways the most forward-thinking of global citizens; living abroad shows a desire to embrace something more complex than a simple national identity and way of life. Yet, at the same time, it is also the most ancient act; humans began as nomads and then migrants, so being on the move is part of our species’ natural curiosity.
Despite several obstacles on the way, global equities resumed their uptrend on the 1st Quarter of 2021. Many of these were discussed throughout the first 3 months of 2021 and many of the tops were called for the major stock indices; however, we saw the S&P500, the Dow Jones and the German Dax registering fresh new All-Time Highs during this period.