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  • FIRST POST
    • jbr165
    • By jbr165 13th Mar 17, 3:28 PM
    • 2Posts
    • 1Thanks
    jbr165
    Should I now move my investments out of Scotland
    • #1
    • 13th Mar 17, 3:28 PM
    Should I now move my investments out of Scotland 13th Mar 17 at 3:28 PM
    Should I now move my Investments out of Scotland and into an England based provider to ensure that they remain within the Jurisdiction of the UK?
Page 1
    • dunstonh
    • By dunstonh 13th Mar 17, 3:33 PM
    • 86,900 Posts
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    dunstonh
    • #2
    • 13th Mar 17, 3:33 PM
    • #2
    • 13th Mar 17, 3:33 PM
    Should I now move my Investments out of Scotland and into an England based provider to ensure that they remain within the Jurisdiction of the UK?
    Originally posted by jbr165
    No. You are ok for now.

    If Scotland vote to leave the UK, then it will be more difficult than the UK leaving the EU. Especially if Scotland then applies to join the EU. Mainly as it appears that the EU will not grant passporting rights to the UK (or vice versa). So, companies based in Scotland will have to relocate operations to the UK to service the rUK leaving a smaller unit in Scotland to service Scottish operations.

    However, with things hypothetical at this stage and even if the vote ends up to leave, it will be many years before things get sorted.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • PeacefulWaters
    • By PeacefulWaters 13th Mar 17, 3:42 PM
    • 5,880 Posts
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    PeacefulWaters
    • #3
    • 13th Mar 17, 3:42 PM
    • #3
    • 13th Mar 17, 3:42 PM
    What were your thoughts before their independence referendum?
    • ColdIron
    • By ColdIron 13th Mar 17, 3:53 PM
    • 2,924 Posts
    • 3,318 Thanks
    ColdIron
    • #4
    • 13th Mar 17, 3:53 PM
    • #4
    • 13th Mar 17, 3:53 PM
    Do you want to conduct your rUK transactions in Groats?
    • jimjames
    • By jimjames 13th Mar 17, 4:32 PM
    • 11,535 Posts
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    jimjames
    • #5
    • 13th Mar 17, 4:32 PM
    • #5
    • 13th Mar 17, 4:32 PM
    No. You are ok for now.

    If Scotland vote to leave the UK, then it will be more difficult than the UK leaving the EU. Especially if Scotland then applies to join the EU. Mainly as it appears that the EU will not grant passporting rights to the UK (or vice versa). So, companies based in Scotland will have to relocate operations to the UK to service the rUK leaving a smaller unit in Scotland to service Scottish operations..
    Originally posted by dunstonh
    I guess it all depends. Lots of what-ifs.
    Is it entirely possible that Scotland could retain EU membership (not rejoin) and passporting rights which might boost companies in Edinburgh.
    Remember the saying: if it looks too good to be true it almost certainly is.
    • dunstonh
    • By dunstonh 13th Mar 17, 4:40 PM
    • 86,900 Posts
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    dunstonh
    • #6
    • 13th Mar 17, 4:40 PM
    • #6
    • 13th Mar 17, 4:40 PM
    I guess it all depends. Lots of what-ifs.
    Is it entirely possible that Scotland could retain EU membership (not rejoin) and passporting rights which might boost companies in Edinburgh.
    Originally posted by jimjames
    EU have said that Scotland cannot retain EU membership. They would need to apply. If they do get EU membership, they would not be able to offer financial services to the rUK. It works both ways. UK cannot access EU and EU cannot access UK.

    There is also the possibility that in a leave vote, Scotland itself could end up broken up with regions of Scotland voting to remain using the same argument Sturgeon has been using back at her and being partitioned off to stay in the UK. Scenarios are endless. Edinburgh could end up staying in the UK and leaving Scotland.

    However, back into reality, this is not an issue to be concerned with now or even immediate future. No decisions should be made now on leaving Scottish companies.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • ColdIron
    • By ColdIron 13th Mar 17, 4:47 PM
    • 2,924 Posts
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    ColdIron
    • #7
    • 13th Mar 17, 4:47 PM
    • #7
    • 13th Mar 17, 4:47 PM
    Is it entirely possible that Scotland could retain EU membership (not rejoin) and passporting rights which might boost companies in Edinburgh.
    Originally posted by jimjames
    Seems unlikely. In response to Mrs Sturgeon's announcement Maragritis Schinas, a spokesman for the European Commission, said Scotland would not be granted automatic access to the EU if it split from the rest of the UK.

    http://www.independent.co.uk/news/uk/politics/scottish-eu-independence-referendum-scotland-join-queue-membership-apply-a7627201.html
    • Heng Leng
    • By Heng Leng 13th Mar 17, 6:02 PM
    • 3,733 Posts
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    Heng Leng
    • #8
    • 13th Mar 17, 6:02 PM
    • #8
    • 13th Mar 17, 6:02 PM
    EU have said that Scotland cannot retain EU membership. They would need to apply. If they do get EU membership, they would not be able to offer financial services to the rUK. It works both ways. UK cannot access EU and EU cannot access UK.

    There is also the possibility that in a leave vote, Scotland itself could end up broken up with regions of Scotland voting to remain using the same argument Sturgeon has been using back at her and being partitioned off to stay in the UK. Scenarios are endless. Edinburgh could end up staying in the UK and leaving Scotland.

    However, back into reality, this is not an issue to be concerned with now or even immediate future. No decisions should be made now on leaving Scottish companies.
    Originally posted by dunstonh
    Can I borrow your Norfolk hotline to the EU?
    Lots of your wild speculation is rubbish e.g. Edinburgh leaving Scotland.
    At least the UK Chancellor has put that extra money into Social care...
    Last edited by Heng Leng; 13-03-2017 at 6:07 PM.
    • dunstonh
    • By dunstonh 13th Mar 17, 6:12 PM
    • 86,900 Posts
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    dunstonh
    • #9
    • 13th Mar 17, 6:12 PM
    • #9
    • 13th Mar 17, 6:12 PM
    Can I borrow your Norfolk hotline to the EU?
    Easier if you just watch the news.

    Lots of your wild speculation is rubbish e.g. Edinburgh leaving Scotland.
    Much of what you say is too. But at least I stated that mine was speculation. What is your excuse?
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • Jon_W
    • By Jon_W 13th Mar 17, 6:37 PM
    • 80 Posts
    • 15 Thanks
    Jon_W
    I guess it all depends. Lots of what-ifs.
    Is it entirely possible that Scotland could retain EU membership (not rejoin) and passporting rights which might boost companies in Edinburgh.
    Originally posted by jimjames
    No, it's legally impossible.

    Scotland is not a member of the EU: it is not a signatory to any of the EU treaties.

    It cannot sign any such treaty before it is independent as the Scottish First Minister does not have the legal capacity to do so in UK law. As the signature is not from a 'head of state or government' (at that point) it is also legally ineffective for EU legal purposes.

    The only option is independence then trying to join the EU, with it being far from certain that the EU would accept it. It needs unanimity in the Council. Spain would almost certainly veto it, to dissuade regions like Catalonia and the Basque region from seeking independence. Belgium may also do so to dissuade Wallonia.

    The SNP seem to be selling this as a possibility. I cannot imagine that they genuinely believe that it is possible. Sturgeon will have spoken to EU legal experts and EU heads of state/government on this issue.

    Anyone voting for independence on the basis of 'remaining' in the EU will have some harsh lessons to learn.
    • Heng Leng
    • By Heng Leng 13th Mar 17, 6:47 PM
    • 3,733 Posts
    • 1,122 Thanks
    Heng Leng
    Easier if you just watch the news.



    Much of what you say is too. But at least I stated that mine was speculation. What is your excuse?
    Originally posted by dunstonh
    That Edinburgh is leaving Scotland?
    'Regions' of Scotland will stay in the fUK?

    Here comes the science bit - concerntrate!

    EFTA are already on the record regarding Scotland.
    EFTA = EEA = Single Market including Passporting.
    That obviously assumes no EU membership of the Single Market.
    • masonic
    • By masonic 13th Mar 17, 6:56 PM
    • 8,814 Posts
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    masonic
    I've really missed these discussions...
    • badger09
    • By badger09 13th Mar 17, 7:26 PM
    • 4,636 Posts
    • 3,836 Thanks
    badger09
    I've really missed these discussions...
    Originally posted by masonic
    I haven't
    • jdw2000
    • By jdw2000 13th Mar 17, 9:19 PM
    • 403 Posts
    • 103 Thanks
    jdw2000
    Jesus wept.
    • edinburgher
    • By edinburgher 14th Mar 17, 7:29 AM
    • 10,429 Posts
    • 54,297 Thanks
    edinburgher
    There is also the possibility that in a leave vote, Scotland itself could end up broken up with regions of Scotland voting to remain using the same argument Sturgeon has been using back at her and being partitioned off to stay in the UK. Scenarios are endless. Edinburgh could end up staying in the UK and leaving Scotland.
    We'll give you Edinburgh, but we're going to want London in exchange

    *Edit: apart from Murrayfield, which will become the Monaco of the North
    • mapk
    • By mapk 14th Mar 17, 8:40 AM
    • 136 Posts
    • 58 Thanks
    mapk
    We'll give you Edinburgh, but we're going to want London in exchange

    *Edit: apart from Murrayfield, which will become the Monaco of the North
    Originally posted by edinburgher
    Free Leith first, ya bams!
    • edinburgher
    • By edinburgher 14th Mar 17, 8:44 AM
    • 10,429 Posts
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    edinburgher
    Free Leith first, ya bams!
    Originally posted by mapk
    Yes, you're welcome to a free Leith
    • PeacefulWaters
    • By PeacefulWaters 14th Mar 17, 8:52 AM
    • 5,880 Posts
    • 7,092 Thanks
    PeacefulWaters
    Free Leith
    Originally posted by mapk
    It's never worth that much.
    • Marvo5
    • By Marvo5 14th Mar 17, 9:06 AM
    • 44 Posts
    • 57 Thanks
    Marvo5
    Talking of possibilities, I'm sure I read somewhere in the recent past that in polls in cities in the north of England that they were quite receptive of becoming part of Scotland as it was far more in tune with their political leanings. Makes perfect sense.
    • Heng Leng
    • By Heng Leng 14th Mar 17, 11:50 AM
    • 3,733 Posts
    • 1,122 Thanks
    Heng Leng
    Talking of possibilities, I'm sure I read somewhere in the recent past that in polls in cities in the north of England that they were quite receptive of becoming part of Scotland as it was far more in tune with their political leanings. Makes perfect sense.
    Originally posted by Marvo5
    They are Brexit central and no, we're not taking them!
    We got enough political loons here already.
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