Brits Urged to Take Up German Citizenship
Expatriate Brits living in Germany have been advised to look into the possibility of becoming German citizens, as, amongst other things, naturalisation is likely to make the practicalities of Germany wealth management more straightforward.
Expat group British in Germany has said that British people living in the country should act quickly as it will likely be harder to achieve citizenship if the UK leaves the EU on March 29 2019 without a deal. In the event a deal is reached, Brits will have until 31 December 2020 to apply for dual citizenship, according to Germany's foreign ministry.
Effectively, this means that if Brits want to be able to ensure dual citizenship, they must act quickly as a no deal scenario could mean they have to renounce their British citizenship if they wish to become German citizens. The sooner Brits attend the Ausländerbehörde (Foreigners' Registration Office) for advice the better their chances of securing a favourable outcome.
Furthermore, a spokesperson with the group said that even individuals who think they are not eligible should make enquiries, given that the process is only likely to become harder in the future. As it stands, to qualify for German citizenship an applicant must have lived for at least eight years in the country, speak the language, have no criminal record and, crucially, be able to pass a citizenship test.
However, if a person has been in Germany for fewer than eight years, but has strong ties with the country and is married or in a long-term relationship with a German citizen, there may be some leeway when it comes to the otherwise strict rules.
"We've been exchanging a lot of information on how to become a German citizen, what the requirements are and encouraging people to take up this option," said the spokesperson.
According to Germany's Federal Office of Statistics, last year 7,493 British people achieved German citizenship – a record number – 162% more than in 2016; a rise experts believe is directly attributable to concerns around Brexit.
Blacktower Financial Management
Blacktower Financial Management operates from numerous locations across Europe, including Germany. We specialise in all areas of expat wealth management and financial advice including assistance with SIPP and QROPS expat transfers and dealing with Brexit.
For more information about how we can help you successfully manage your wealth in Germany and the ramifications of becoming, or not becoming a Germany citizen, contact our financial services team in Germany today.