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Go Dutch?

Similarly, Dutch passport holders who wish to adopt another nationality have to make the same choice: go foreign or stay Dutch. Exceptions are made in some cases, including for those who marry a Dutch national.

State Secretary for Asylum and Migration Affairs Mark Harbers said that the government would first look at the possibility of allowing dual or multiple nationality for first-generation immigrants and emigrants, but would then consider forcing subsequent generations to choose only one.

The proposals come at a particularly pertinent time for nearly 90,000 British expats who are still very much in the throes of Brexit. A small fraction of these have already decided to opt for Dutch nationality, despite fears of losing their right to reside in the UK.

The preliminary plans, have come under criticism from many expats, including Netherlands wealth management clients, who feel that they do not go far enough.

“The big concern here is the status of our children,” one expat told press. “I get reactions from worried Dutchies all over the world who fear their children will be forced to make a choice between two nationalities.”

Plan your finances to be prepared for all eventualities

If recent uncertainty has thrown your Netherlands wealth management plans into doubt, Blacktower can help you reconsider and develop them with confidence. Contact us to discuss how we might be able to help you protect and grow your assets in the current political and economic climates.

Other News

Do you live in Spain and still have UK and Offshore Investments?

Many UK nationals have accumulated savings and investment portfolios using an array of options, such as National Savings to Individual Savings Accounts (ISAs), Personal Equity Plans (PEPs) and Premium Bonds. Unfortunately, once you take up residence in Spain, the tax incentives provided by the UK schemes fall away and the income and gains may become wholly taxable under Spanish law.

When you move to a new country, it is a major change and should prompt a complete review of your wealth management to ensure it is as effective as possible for your new life. Similarly, if you have lived in Spain for a number of years, it would be wise to have a full review of your saving/investment/pension position to ensure optimum benefits. We take a look at some of the most common investment types and what your move to Spain might mean for your finances. 

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Many Grandparents missing out on full state pension

Grandparents and FamilyThe ex-pensions minister Steve Webb is urging the government and the HMRC to do more to alert grandparents to all the pension perks they’re entitled to after it was revealed that the overwhelming majority are not receiving the full state pension. By missing out on a particular benefit, unknowing eligible grandparents are missing out on £231 a year. Over the course of their full retirement, this could possibly lead to a loss of thousands of pounds.

It is a scheme called the Specified Adult Childcare Credit. It is thought that only 1,300 grandparents are taking advantage of it despite 100,000 being eligible (a mere one per cent). The scope of the problem was found out by Webb when he sent a Freedom of Information request to the HMRC.

The purpose behind the Specified Adult Childcare Credit is to allow grandparents who give up work completely to help raise their grandchildren the chance to claim National Insurance (NI) credits.

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