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Financial Advice for UK Expats in Cyprus: A Comprehensive 2024 Guide
At time of writing, Brexit ‘negotiations’ are ongoing with a matter of weeks remaining before the UK’s exit from the European Union. All UK firms operating in the EU will be impacted and that includes those providing financial services also.
So how does this affect Cyprus residents and your relationship with financial services providers in the UK?
Assuming the UK leaves the EU without a withdrawal agreement by 29th March then UK financial advisers will be unable to service their clients who are resident in Cyprus and all other member states outwith the UK. This is because UK firms have previously been able to ‘passport’ their services across the EU. If there is no deal then such passports will effectively be torn up.
Cayman Islands Wealth Management: Financial Prosperity for Expatriates
The Cayman Islands or “Cayman” consists of three islands; Grand Cayman, Little Cayman and Cayman Brac. They remained mostly uninhabited until the 17th century. The earliest settlors consisted of pirates, refugees, “lost at sea” sailors and migrants from other neighboring islands. In 1670, England gained control of the islands which remains a British Overseas Territory to this day.