Contact

News & Insights

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.

Other News

BLACKTOWER FINANCIAL MANAGEMENT GAINS ACCESS TO PANAMA MARKET

International investment and financial planning firm, Blacktower Financial Management Group, announces the launch of its offering in Panama. Gibraltar, 10th October 2022 Blacktower Financial Management Group, providers of individual and corporate financial planning, has today announced that they are now licensed to offer their bespoke services in Panama. This follows the recent acquisition of a […]

Read More

In the Absence of the Investing Golden Goose Play the Long Game

CoinsOn many occasions, lay investors have a tendency to confuse banking and property revenues as useful gauges of the overall strength of the investment economy. But, however healthy (or unhealthy) these two sectors appear, this should not be allowed to cloud the investment opportunity available to you via your expat financial services manager.

This is why we should not be overly concerned that returns in banking investments currently sit below historical averages – what this potentially marks is simply the residual impact of the 2008 financial crisis and the fact that banking and the wider investment economy have evolved with the advent of new and disruptive players in the finance sector.

For example, a new piece of research by Accenture showed that in 2005 there were 24,000 firms operating in the worldwide banking industry; today this stands at around 15,000. But this alone cannot be seen as a true reflection of the current climate because during the same period we have witnessed the dawn of 600 FinTech firms, 1,900 payment institutions, 700 new banks, and 400 subsidiaries of existing banks – there has also been some consolidation in the area.

Read More

Select your country

Please select your country of residence so we can provide you with the most relevant information: