There are many reasons why both individuals and businesses are considering relocating to the UK, including political stability, a business-friendly environment and attractive tax treatment. When it comes to Hong Kong residents, the strong historic ties between the two countries, makes the UK a popular choice. We understand the significant challenges of relocating and can help simplify the process for you. It is very important to seek professional advice in advance of moving to the UK, and doing so can ensure that individuals maximise the benefits of your move.
What to consider:
- Advice and support on the appropriate entry clearance visa
- Advice and support on how family members can join you in the UK
- Pre-arrival Tax planning on the implications of becoming UK tax resident
- Ways to mitigate UK tax exposure
- Planning and structuring of both your non-UK and UK assets
- Advice on acquiring/renting property (both residential and commercial)
- Succession planning for family wealth and/or business
- You may consider putting in place a pre or post-nuptial agreement, and
understanding the other specific issues linked to cohabitation, separation
and divorce in the UK.
Benefits:
- Political stability
- Strong legal system and respect for rule of law
- Highly attractive tax regime for individuals not originally from the UK known
as the “remittance basis of taxation”. - Entrepreneurial opportunities in the UK to expand and develop your
business - World class schools and universities
Current Political situation and how it affects entry to the UK:
After China’s imposition of a national security law on Hong Kong, the UK
confirmed that new arrangements will be put in place for British Nationals
(Overseas) (“BN(O)”s).
New immigration rules will allow BN(O) citizens the right to live and work in the UK for longer and give a path to full British Citizenship. This new immigration route will allow BN(O)s to come to the UK without the current 6 month limit, granting them 5 years limited leave to remain, with the ability to live and work in the UK. After 5 years, they will be able to apply for settled status, and after a further 12 months with that status, apply for citizenship. Whilst this new route is for BN(O)s, other routes remain available to Hong
Kong nationals considering a move to the UK.