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

Posted: Mon Mar 28, 2016 1:52 pm
by boomingaway
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

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

Posted: Sat Oct 29, 2016 1:07 pm
by WRWR
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.

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

Posted: Sat Oct 29, 2016 1:13 pm
by Casa
This is thread is 7 months old and the OP hasn't visited the forum since 31 March!

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

Posted: Sat Oct 29, 2016 1:23 pm
by WRWR
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.