Pension info for immigrating parent

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Apr 18th 2012, 12:01 pm

#16

BlackCrossInResidence

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Re: Pension info for immigrating parent

Quote:

Originally Posted by chc4me

I'm suprised by the comment that a non-UK resident can't hold shares/bonds via a UK Broker? Sounds to me like it is the internal policy of that particular broker, in fact now that I think about it I personally know of some ex-pats holding UK broker accounts. I'd suggest you try a couple of different brokers in the UK, starting with TD Waterhouse.
You could open an account with a NZ broker, but make sure you understand the fees when dealing in international shares, GBP 100 as a minimum cost per trade is common!

Well neither of my two brokers (Halifax/Iweb or HSBC/Investec) allow non UK residents to hold brokerage accounts (something to do with money laundering rules since 9/11 ?). In fact both threatened to to close my accounts earlier this year when they discovered I was in NZ but prior to my getting NZ residence.

I've just looked at the TDWaterhouse site and yes they do, thanks for the tip. However, seems it's a special one for overseas investors not their standard brokerage account. See http://www.tddirectinvesting.co.uk/c...ther-accounts/
I don't know whether standard UK charges apply to any dealings though - I intend to sort all this out when I return, temporarily, to the UK in May.