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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.

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

GREXIT

Grexit

Yet again what another country does or doesn’t do could have huge implications of the rest of Europe and the Western world. 

The clock is ticking for the Greek government to pay back the International Monetary Fund over €1bn (£720m) in loans in early May, as well as fund €1.4bn Treasury bill redemptions, and other major payments, including coupon payments on Greek government bonds.

It would appear that the Greek finance minister Yanis Varoufakis has been sidelined in Greek debt negotiation talks, but as Holly Cook from Morningstar says “The situation hasn’t changed that much, no matter who is actually doing the talking, they can’t stray too far from what their original mantra was, because their original mantra was all about anti-austerity… They’ve got a relatively tight margin for maneuver.”

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Expats Retirement Planning – No-one can See into the Future

Crystal BallWhat should you do if you are an expat and are considering a retirement transfer? Mindful of Brexit’s impending reality, do you make an expat retirement transfer as soon as possible or, fearful of restricting yourself and missing out on any possible opportunity, do you hang on to see what the future holds and wait until after March 31 2019.

There could be risk in waiting, of course, and it is considerable risk. By hesitating now you risk losing the opportunity to take advantage of all the EU expat retirement transfer benefits currently offered to those who choose Self-Invested Personal Pensions (SIPPs) or Qualifying Recognised Overseas Pensions (QROPS) right now.

This is not to say that these advantages will instantly disappear come spring 2019, but the reality is that Brexit is turning out to be drawn-out process with little current certainty and that it will take some time for any agreed changes to take effect.

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