News & Insights

Can my UK Financial Adviser still look after me?

It is quite common for those retiring and relocating to Cyprus to retain the services of their financial adviser in the UK due to an existing relationship that they have. The reality however is that receiving financial advice whilst living in the UK is very different to the advice you need when you have moved abroad and UK advisers will not typically have the ‘local’ knowledge that you now need in Cyprus. Financial advice is not just about investments, it is being able to advise on an individual’s circumstances and having the tax and residency knowledge is crucial before you can even discuss investment planning.

UK firms have become more and more reluctant to advise overseas clients for the above reason and now, with Brexit looming, this may well force them to have to cease their relationships with Cyprus residents anyway.

This does not however mean that you will be left out in the cold. Instead, you should look to source an adviser who is regulated in the EU. I always encourage new clients to speak to more than one firm as it important that you feel comfortable with your new adviser and what he or she can do for you.  

We have been advising expats for over 30 years in countries across the EU and have a wealth of ‘local knowledge’ as well as international experience to ensure your financial planning requirements are properly addressed. I have personally been helping expats on the island for over 12 years. Another plus is that we also have a UK regulated business which means that should you ever decide to return to the UK then we can continue to help you. All in all, we have the solutions to help anyone concerned about the impact Brexit may or may not have.

Other News

Tax Planning for an Easy Retirement

Blacktower FM Couple With Advisor

One of the most important parts of financial planning is the use of tax allowances. I would say at least equal to, potentially more than sound investment advice.  There are several ways to consider your tax bills both annually and in retirement…. Pay today, pay in the future, transfer to other people or reduce future tax bills today, using legal financial advice.

A common misconception is that people reduce their tax bills by using complicated, unethical tax schemes using multi jurisdictional allowances, without looking into the use of completely legitimate and simple planning. In the UK that is available for everyone.

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Spanish Asset declaration: Modelo 720

Breaking NewsAs we are aware, in November 2012 the Spanish authorities approved a new law that obliged any person, permanent establishment or company who is resident of Spain (regardless of nationality ) to declare all assets they hold outside Spain worth more than €50,000 (per Asset Class). These Assets have to be reported on the Modelo 720.

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