ESC

Click the "allow" button if you want to receive important news and updates from immigrationboards.com


Immigrationboards.com: Immigration, work visa and work permit discussion board

Welcome to immigrationboards.com!

Login Register Do not show

UK Bank Accounts/Investments/ISAs if I don't renew my visa

This is an area for the discussion of matters related to issues about moving from one country to another. Examples could be about money transfer, moving and packing, validity of driving licence, etc..

It is not a general non-immigration, free-for-all area.

Moderators: Casa, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix, John, ChetanOjha, archigabe

Locked
boomingaway
Newly Registered
Posts: 4
Joined: Wed Feb 10, 2016 1:44 pm

UK Bank Accounts/Investments/ISAs if I don't renew my visa

Post by boomingaway » Mon Mar 28, 2016 12:52 pm

Hey everyone,

I am on an entrepreneur visa which runs out in January, and if I don't renew it and leave the country, can I still keep all my bank accounts/investments in funds/ISAs in the UK? Or do I need to close everything?

Thank you

WRWR
Junior Member
Posts: 67
Joined: Wed Sep 14, 2016 3:22 pm
Russia

Re: UK Bank Accounts/Investments/ISAs if I don't renew my vi

Post by WRWR » Sat Oct 29, 2016 12:07 pm

From my personal experience:

1) ISA is available only for UK tax residents.
2) Savings accounts are available for UK tax residents too. I received letters from my banks explaining this change.
3) Looks like keeping current accounts is not prohibited. But you won't be able to open new ones. And your bank may ask you to close this account if they realise you're not resident anymore.

If you want to keep access to UK banking system (e.g. BACS transfers), consider opening accounts in International branches of UK banks. Those accounts are held in crown dependencies (Isle of Man, Jersey, etc.). Technically it is an overseas account and it is permitted for non-residents of UK. BACS, SEPA, direct debits and standing orders are fully available.

User avatar
Casa
Moderator
Posts: 25685
Joined: Wed Jul 23, 2008 2:32 pm

Re: UK Bank Accounts/Investments/ISAs if I don't renew my vi

Post by Casa » Sat Oct 29, 2016 12:13 pm

This is thread is 7 months old and the OP hasn't visited the forum since 31 March!
(Casa, not CR001)
Please don't send me PMs asking for immigration advice on posts that are on the open forum. If I haven't responded there, it's because I don't have the answer. I'm a moderator, not a legal professional.

WRWR
Junior Member
Posts: 67
Joined: Wed Sep 14, 2016 3:22 pm
Russia

Re: UK Bank Accounts/Investments/ISAs if I don't renew my vi

Post by WRWR » Sat Oct 29, 2016 12:23 pm

I see it as common question relevant for many people.
It may help someone looking (googl'ing) for answers in future.

I had a hard time learning all this on my own.

Locked
cron