UK Regulated International and Expatriate Financial Advice

International and expatriate financial advice covers a wide range of people, a wide range of topics and multiple sets of international and ‘in country’ laws, rules, regulations, tax treaties and social security treaties.  Securing advice in this sector is never will never be easy.

Your Status May Be:

• A British expat that has left the UK to live permanently overseas with interests in the UK and overseas.
• A Foreign expat that has moved to the permanently from overseas with interests in the UK and overseas.
• A UK tax resident that wishes to invest in Offshore/International investments for tax privileges.
• Internationally mobile having lived and worked in many laces with assets and interests in numerous jurisdictions.

Different Products Different Rules

• UK pensions?  Offshore pensions?  Pensions in other countries? International pension transfers?
• At retirement products and options in different countries?
• State pensions in the UK and overseas.  Is there a Social Security Treaty between the UK and the other country?  Can social security credits be transferred overseas?  Can voluntary social security contributions be paid by non-residents?
• UK investments?  Offshore investments?  Investments in other countries?
• Investments in trust?  Does the non-UK territory even recognise trusts in their local laws?  Does the overseas territory have different equivalents to trusts?
• UK and International mortgage needs?  Are there any credit facility restrictions, such as there are in Australia, New Zealand and Malaysia.
• What are your protection needs for medical insurance, life insurance, income protection, landlord insurance?
• Is there a Tax Treaty between the UK and the other country?  What are the UK rules and overseas rules for income taxes, capital gains taxes, inheritance taxes, stamp duty?  The UK has a new Tax Resident and Long Term Tax Resident status.  The UK charges higher stamp duty if you are a non-UK resident buyer.

If You Live Outside UK Please Note:

We are a UK registered business, authorised and regulated by the Financial Conduct Authority in the United Kingdom.  We are fully insured for advice that we give from the UK to clients all over the world.   That said, we are not authorised outside the United Kingdom and as such, new products and services are usually only available for UK residents.  We are also no longer authorised in the European Union under financial services ‘passporting’ given Brexit.

That said, there are many British Expats and Foreign Nationals living all over the world that have existing pensions, investments, financial or tax interests in the UK.  Your local adviser, where you live, is unlikely to be authorised in the UK meaning they cannot advise on your existing UK interests and likewise, we are not authorised to give advice on new pensions and investments where you live.

EU Residents

The Brexit Trade Agreement did not include financial services passporting although it was supposed to.   Negotiations are ongoing with regard to ‘Equivalency’ on financial services with 5 X Memorandums of Understanding (MOUs) agreed in January 2021.  MOUs are essentially agreements to reach an agreement only.  One of the MOUs between UK and EU regulators confirms that they are working towards ‘delegated authority’ where if an EU resident has a UK pension/investment, then respective EU advisers are not authorised to advice on unless they have set up a UK branch with FCA authorisation in UK and therefore advice will need to be delivered by a UK authorised IFA.  This is where EU regulators delegate their authority to the UK FCA to oversee and regulate the advice on a UK pension/investment.

Given the ‘state of flux’ we are all in as negotiations continue, technically, we are no longer authorised in EU (for the time being).  Fish, wine, cheese, and cars are no problem, but finance is a ‘no’ at present.  We do not ‘solicit’ or promote services to EU residents, but we will accept ‘Reverse Solicitation’ i.e.  you approach us to help you with existing UK taxes, investments, or pensions only.  We will not advise on or arrange 'new money' investments for you, but we will advise on existing UK arrangements that are then actioned/transferred/amended within the UK.  Given this, and until an agreement is reached on Equivalency and Delegated Authority, we will offer the technical advice from the UK on your UK pensions, investments, and tax with our requirement that you also take advice locally in the EU to oversee any actions at 'your end' to ensure tax compliance and reporting requirements with EU authorities.  You should also be aware that there are even greater restrictions for residents of France.  No Fishing = No Finance in France, although they are softening their position to that of other EU authorities where things appear to continue as they were with EU regulators happy that the FCA oversees any UK advice on existing UK products and services.

Please note we have written confirmation from both our professional insurers and the FCA that all advice that we offer must be offered and delivered from the UK, under FCA regulatory rules and FCA protection and that we are permitted to advise people anywhere in the World according to the UK regulator, but we must check if there any regulatory restrictions where a client lives.  In short, we offer advice as if you were resident in the UK and if you and your EU adviser check with your EU regulator that they are happy for us to continue UK advice for you in tandem with your local adviser ensuring tax compliance and reporting requirements with EU authorities.  We will require this in writing from your EU regulator/your EU adviser.

Resident Outside Europe

As we are not authorised where you live and your local advisers are unlikely to be authorised in the UK, we operate a similar option to EU residents with 'Reverse Solicitation'.  We do not ‘solicit’ or promote financial services to non-UK residents, but we will accept ‘Reverse Solicitation’ i.e.  you approached us to help you with existing UK taxes, investments, or pensions only.  We will not advise on or arrange 'new/additional money' investments for you, but we will advise on existing UK arrangements that are then actioned/transferred/amended within the UK.  Given this, we will offer the technical advice from the UK on your UK pensions, investments, and tax with our requirement that you also take advice locally in the country that you live to oversee any actions at 'your end' and ensure tax compliance and reporting requirements with your local finance and tax authorities.

Please note we have written confirmation from both our professional insurers and the FCA that all advice that we offer to expats must be offered and delivered from the UK, under FCA regulatory rules and FCA protection and that we are permitted to advise people anywhere in the World according to the UK regulator, but we must check if there any regulatory restrictions where a client lives.  In short, we offer advice as if you were resident in the UK and provided you and your local adviser check with your resident country's regulator that they are happy for us to continue UK advice for you in tandem with your local adviser ensuring tax compliance and reporting requirements with your resident country's authorities.  We will require this in writing from your country's regulator/your local adviser where you live.

All advice is offered from the United Kingdom with the explicit agreement and understanding that any fee for services is offered under the laws of England and Wales and the UK Courts shall have exclusive jurisdiction and no other country’s regulatory or legal systems have any judicial powers over any dealings between us.

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