You are looking to apply for the correct UK visa for you and relocate to the United Kingdom. Choosing the right type of visa is an extensive process. However, there are at least 3 additional considerations as you prepare to relocate to the UK:
1. Tax status
As you prepare to relocate to the UK (the British Isles, England, Wales, Scotland and Northern Ireland) under Tier 1 Investor visa, you also need to thoroughly consider your newly acquired UK tax status.
The United Kingdom is a sophisticated and complex tax jurisdiction, which may not be as easy to navigate and requires specialist knowledge.
It is important to obtain crucial professional tax advice before you relocate.
2. Protecting your overseas assets
The UK is a sophisticated tax and legal jurisdiction.
However, it is possible to protect your overseas assets if important steps are taken before you relocate to the British Isles, England, Wales, Scotland, and Northern Ireland.
Therefore, it is important to ascertain what these specific steps are for you.
3. Structuring your worldwide wealth
As you become a tax resident in the UK, your worldwide assets fall under the UK’s rights to tax your overseas assets.
Therefore, your global wealth needs to be reviewed and structured accordingly. If your assets are structured already, these structures need to be reviewed in accordance with UK tax considerations.
Looking for professional independent advice in relation to your UK visa application and your wealth considerations to ease your relocation to the UK; schedule a phone call with me.
Saule Voluckyte, M.A.E.S, LL.B, FAIA
I have been working exclusively with UHNWI in Mayfair, London since January 2008. I built specialist knowledge and expertise required to serve ultra high net worth individuals investing, operating and relocating to the UK or Switzerland.
Within the industry, I am the single adviser who is able to traverse the different areas of expertise and bring a comprehensive approach across: global structuring, UK immigration, international taxation and FOREX to develop their global wealth strategy, while they build, grow and expand their wealth worldwide.
Previous experience as one of the senior advisors for the government, made me a go-to person when delicate and uncomfortable scenarios involving heads of state need to be handled with care and preserve privacy.