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Non-Resident in UK
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Henry0119
Posts: 1 Newbie
I am now non-resident in the UK and have a fixed rate ISA maturing in a UK bank.
Where do I save the money now? I would like to keep the money in the UK as corruption etc is endemic in Spain.
Where do I save the money now? I would like to keep the money in the UK as corruption etc is endemic in Spain.
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Very limited for choice as a non-resident. You can keep the ISA but you cannot open a new one, though I understand it may be paying a low rate of interest.
You may want to look at offshore accounts.Stephen Covey once said that "when you teach once, you learn twice". That is the primary reason for my participation on the forums as an IFA.
Although I strive to provide accurate information in my posts, there may be the odd time when I fail. Yes I know it's hard to believe but even Your Hero can make mistakes. Apologies in advance.0 -
The equivalent to the UK FSCS protection scheme is the Fondos de Garantia de Depositos (FDG). http://www.fgd.es/es/index.html
So your cash is as safe in Spain as it is in the UK but you will probably have to pay tax on interest0
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