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Non UK resident child savings accounts
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ExExpat76
Posts: 1 Newbie
My son is 10 and lives in the EU.
I've put away some money (10k) in a Lloyds junior savings account for him, which has a limit on the amount that earns interest of about 2.97% on 5k. The rest is 1.10%.
Can I open an isa for him as he's abroad? What alternative saving methods could I consider?
I've put away some money (10k) in a Lloyds junior savings account for him, which has a limit on the amount that earns interest of about 2.97% on 5k. The rest is 1.10%.
Can I open an isa for him as he's abroad? What alternative saving methods could I consider?
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Can I open an isa for him as he's abroad?
https://www.gov.uk/junior-individual-savings-accounts
Who can get a Junior ISA
Your child must be both:
- under 18
- living in the UK
If your child lives outside the UK
Your child can only get a Junior ISA if both the following apply:
- you’re a Crown servant (in the UK’s armed forces, diplomatic service or overseas civil service, for example)
- they depend on you for care
You say that you have opened a child savings account with Lloyds - is the bank content with this given that your child is non-resident?0
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