LittleMiss1980

Hi guys,

I am moving over to Dubai in 5 weeks and I'm not sure if I need to close down my account in England or whether I can keep it open to transfer money into?

Any advice greatly appreciated please!

Paracletus

Well..considering the amount of info you give on you ever going back to the UK or not it's hard to advice. I have kept my account open in the UK and regularly transfer money there and elsewhere.I'm sure you'll find most others have too. You can never have enough bank accounts scattered around.

LittleMiss1980

The intention is to be in Dubai for a few years and then return to the UK.

Thanks for your advice; I will be speaking to my bank soon about it so hope they are helpful.

Bluelionesse

I wouldn't tell your bank - transfer your address to your parents' or siblings' address. If they know you are moving abroad they could put pressure on you to change your account to an offshore banking or premium one.

Madam Medusa

not at all...i have a few different accounts in the uk all registered to my dubai address with no issue...

MM, xx

Bahtatboy

The last time a bank was helpful to me was in 1986. I wouldn't hold out too much hope. However, I still have a couple of UK bank accounts open, although they are still registered at my home address in UK. Don't worry about having a UK bank and/or transferring money into/out of it in respect of tax liability--they are not factors.

Meow

Without doubt, maintain the account whilst you are away. It is very hard to open a new UK bank account without proof of address and you'll need an account when you return.

The tax liability relates to you personally and whether you will be exempt. If you are deemed UK non-resident for tax purposes you will not be subject to UK Income Tax on income remitted to the UK.

Madam Medusa

must say i've always found first direct to be absolutely fantastic...

MM, xx

Paracletus

You could always open up a decent internet bank (in the UK), I know I wish I had..because my lovely account is barely useable over the internet.

LittleMiss1980

Thanks for all your advice.

I have a bank account in the UK with Santander and also Lloyds. Is it better to open an account in Dubai with a local bank? Or should I stay with Lloyds as they have a branch in the UAE?

I will be contacting the HMRC to find out whether I will be classed as non-resident - I should think I would be as I am moving to Dubai for at least two years.

Meow

You will be if you are living and working here, but you still need to watch out for partial year liability depending on the exact dates you leave and return. Take a look at the entry on my blog (link below) headed 'useful info for British expats).

MacScot

I'd stay with Lloyds (as you have a history with them). If you stay longer in Dubai, you might later open an offshore account (easy with Lloyds TSB)

Moneymatters

Make sure you keep receipts and payslips, as you'll likely need proof of earnings and employment on your return. Agree though, you should think about keeping your existing account whilst also considering open up another before you leave so you have a few options. I manage a savings account and current account remotely.