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Expats may be required to produce regular savings proof

However, British expats already living in the EU are unlikely to be affected as it is probable that the government will succeed in ensuring that reciprocal agreements protect their right to reside within the EU.

As it stands, non-EU nationals wishing to live in EU countries have to provide documentation in relation to their expat regular savings, income and pensions in order to receive EU residency visas, so it is possible that British nationals will have to do the same.

“It is likely there would be a system of long-term permits and residency. We want what is in the best interests of the British people but this will form part of the discussion,” a Home Office spokesperson told media.

However, there is still the possibility that Prime Minister Theresa May and her government might be able to achieve a more favourable deal with EU negotiators; in such a situation British nationals may be subject to exemptions on various EU residency visa rules.

The EU Commission, supported by France and Germany, has already indicated that it might introduce a visa waiver for British nationals, albeit for a fee of around £10.

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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Expat Financial Advice Crucial During Brexit Critical Phase

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Uncertainty regarding the ongoing effect of Brexit is the chief motivation, and the impact on citizenship could be greater still; a further 23 percent of the adults polled during the survey (carried out by YouGov plc from 18-04-19 to 02-05-19) said they would seek citizenship for themselves and their family in the event of a hard Brexit.

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Grand Cayman wealth management benefits from technology

As a holistic provider of wealth management services in the Grand Cayman and other strategic locations across the world, Blacktower is committed to ongoing innovation in order to continually consolidate and better the level of service it provides its clients.

As such, it comes as little surprise to us that a recent piece of research by ComPeer suggests that wealth managers should digitise their operations and embrace fintech if they are to continue to attract clients.

It is truly an exciting time to be involved in wealth management. As one of the UK’s longest standing wealth management companies Blacktower has all the requisite experience of both serving clients and dealing with regulators; we believe that coupling this strong foundation with a commitment to technological modernisation puts us at the forefront of wealth management in Grand Cayman as well as the other locations from which we operate.

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