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Expats want clear plan

Fortunately, Mrs May has stated that the Government will look to release concrete plants of its Brexit strategy before it begins to engage in formal talks with the EU.

So, It has been a nervous and uncertain Christmas and New Year for many expats coming as it did in the wake of talks at the EU Summit when European leaders, with the exception of May, all convened to discuss Brexit.

Throughout, May has sought to be a calming presence by adopting a very calculated approach to the issue. “It remains my objective to give reassurance early on in the negotiations to EU citizens living in the UK and UK citizens living in EU countries that their right to stay where they have made their homes will be protected by our withdrawal,” she recently said

Part of May’s approach appears to be to leave all options open. For example, she has said that EU nationals will only be guaranteed the right to remain in the UK following Brexit if this forms part of a reciprocal arrangement. She has also conceded that is conceivable that the UK might continue to pay the EU contributions in order to retain access to the single market.

She has also tried to face down any further uncertainty created by court challenges to the Brexit process, saying that the UK would invoke Article 50 of the Lisbon Treaty regardless of whether the Supreme Court rules that Parliament must be consulted.

However, May’s approach has attracted criticism from Labour leader Jeremy Corbyn who has branded the Government’s Brexit strategy as being “shambolic” and characterised by a “babble of voices speaking for themselves and their vested interests”.

Whatever the case, those with expat regular savings will be hoping that resolution comes soon as possible as uncertainty has the power to undermine confidence in even the best laid wealth management plans.

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.

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New Governor Brings Confidence to Financial Management Industry

Cayman Island FlagThe Cayman Islands has a new governor following the announcement that Martyn Roper OBE, a career diplomat and corporate leadership veteran, has been appointed to the role. He takes over from Anwar Choudhury, who had recently faced a number of complaints regarding his conduct.

The move is largely thought to be positive step for financial management services in the Cayman Islands, as Roper has said he will make it a priority of his role to “listen and learn” from those around him.

Mr. Roper brings a wealth of experience to the job. He was most recently minister and deputy head of mission for the U.K. in Beijing, China, but has worked in other notable capacities, including as the UK Ambassador to Algeria, Deputy Head of Mission in Brasilia and, of particular interest to the financial management industry in the Cayman Islands, as First Secretary for Economics and Development with the Organisation for Economic Cooperation and Development (OECD) in Paris.

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