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Buying/investing in UK as a UK Expat

Buying/investing in UK as a UK Expat

Old Aug 15th 2022, 6:52 am
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Default Buying/investing in UK as a UK Expat

I became an expat 3 years ago and i am happily enjoying my life out here in the KSA with my family. I don't have any mortgage/loans to pay off in the UK (as never managed to save much).

As savings have gone up, i am considering options to invest/buy so that i don't fall victim to currency devaluation. I am absolutely a newbie/beginner when it comes to investing, like most people. I did a bit of research and got immediately confused with investment lingo (ETFs, Stocks, options/future, bonds). Also, i have received mixed advice on using financial advisors for this purpose.
At this stage, i would like some advice from the experienced expats here as to the options that should be considered. For example, what would be the tax implications if i bought property in UK (mortgage or cash), similar question is also applicable to investing in funds/stocks etc. I look forward to some pointers on this as my mind is absolutely blank on this currently. Thanks in advance!
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Old Aug 15th 2022, 7:24 am
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Default Re: Buying/investing in UK as a UK Expat

Originally Posted by Tahir84
I became an expat 3 years ago and i am happily enjoying my life out here in the KSA with my family. I don't have any mortgage/loans to pay off in the UK (as never managed to save much).

As savings have gone up, i am considering options to invest/buy so that i don't fall victim to currency devaluation. I am absolutely a newbie/beginner when it comes to investing, like most people. I did a bit of research and got immediately confused with investment lingo (ETFs, Stocks, options/future, bonds). Also, i have received mixed advice on using financial advisors for this purpose.
At this stage, i would like some advice from the experienced expats here as to the options that should be considered. For example, what would be the tax implications if i bought property in UK (mortgage or cash), similar question is also applicable to investing in funds/stocks etc. I look forward to some pointers on this as my mind is absolutely blank on this currently. Thanks in advance!
It's always good to frame any investment decision around specific goals before going ahead with anything. There's a lot of different investments out there and some fit specific goals better than others. Keeping goals in mind gives you a sense of purpose, and allows you to measure how well it's going. One mistake a lot of us make is chasing ever higher returns which often just leads to taking on more and more risk.

As a Financial Advisor myself I'd be the first to say proceed with caution - sadly mis-selling is common in the offshore arena but there are some ethical advisors using evidence-based methodologies and keeping their client's interest in mind out there. Many aren't even aware of newer, lower cost ways to access stocks, and tend to promote their firm's in-house funds or preferred investment vehicles.

Regarding your UK property question - there is tax on property in the UK even when overseas, but there are tax accountants who can help you with that (Most IFAs are not tax advisors and shouldn't be relied on for tax advice in my view - especially for complex tax issues some of us face having assets in different jurisdictions, and the possibility of changing residency or even domicile). There are lots of options for buying property back home including off-plan buy-to-let. Some developers offer their own financing as well so that can help if getting a mortgage is tricky. You don't need to invest in stocks or funds (I would avoid most funds except for ETFs as they tend to underperform and overcharge) through the UK particularly - there are a lot of trading accounts these days which can be used that are low cost, have insured custodian banks and allow you to select a decent and diversified portfolio.

I have a free weekly email update (link in my signature block) you're welcome to go through as I cover a lot of these topics. There are a lot of good books about DIY investing as well if you're inclined to go down that route rather than engaging an advisor. Some people have the time and inclination to do so and others don't.

Best of luck,

N.

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Old Aug 16th 2022, 12:16 pm
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Default Re: Buying/investing in UK as a UK Expat

The golden rules for expat financial planning:
1. Never sign up for an offshore regular savings or investment plan
2. Never accept advice from unsolicited cold call financial advisors
3. Take tax advice from a qualified tax advisor who specialises in expatriates
4. Realise capital gains before you repatriate; keep capital losses until after
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Old Oct 29th 2022, 7:47 am
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Default Re: Buying/investing in UK as a UK Expat

I sked my mortgage advisor in the UK about buying property and mortgage implications. Without a firm answer, he could share he had worked with others in similar situations, and lenders would require up to a 30% deposit. Significantly higher than if based in the UK.
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Old Oct 31st 2022, 5:09 am
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Default Re: Buying/investing in UK as a UK Expat

Originally Posted by Tahir84
I became an expat 3 years ago and i am happily enjoying my life out here in the KSA with my family. I don't have any mortgage/loans to pay off in the UK (as never managed to save much).

As savings have gone up, i am considering options to invest/buy so that i don't fall victim to currency devaluation. I am absolutely a newbie/beginner when it comes to investing, like most people. I did a bit of research and got immediately confused with investment lingo (ETFs, Stocks, options/future, bonds). Also, i have received mixed advice on using financial advisors for this purpose.
At this stage, i would like some advice from the experienced expats here as to the options that should be considered. For example, what would be the tax implications if i bought property in UK (mortgage or cash), similar question is also applicable to investing in funds/stocks etc. I look forward to some pointers on this as my mind is absolutely blank on this currently. Thanks in advance!
Read Andrew Hallam's book - Millionaire Expat.
Read the news about interest rates on BTLs in the UK.
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Old Dec 4th 2022, 9:37 am
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Default Re: Buying/investing in UK as a UK Expat

Originally Posted by csdf
The golden rules for expat financial planning:
1. Never sign up for an offshore regular savings or investment plan
2. Never accept advice from unsolicited cold call financial advisors
3. Take tax advice from a qualified tax advisor who specialises in expatriates
4. Realise capital gains before you repatriate; keep capital losses until after
Can you elaborate on point one in your capacity to give such advice? Excuse me for being direct, but unless your qualified, then you’ve no place to say such a thing.

There is absolutely nothing wrong with offshore regular or lump sum savings plans, it’s the adviser that recommends it, that you have to be comfortable with. I’ve been advising these and never had one issue. As long as the adviser takes into consideration of future plans, these are as good as a UK ISA, but without the £20k per year restriction.
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Old Dec 5th 2022, 8:30 am
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Default Re: Buying/investing in UK as a UK Expat

Originally Posted by Duoduo
Can you elaborate on point one in your capacity to give such advice? Excuse me for being direct, but unless your qualified, then you’ve no place to say such a thing.

There is absolutely nothing wrong with offshore regular or lump sum savings plans, it’s the adviser that recommends it, that you have to be comfortable with. I’ve been advising these and never had one issue. As long as the adviser takes into consideration of future plans, these are as good as a UK ISA, but without the £20k per year restriction.


Wrong crowd buddy. Your number gets blocked when you start cold calling these products.
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Old Dec 5th 2022, 8:42 am
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Default Re: Buying/investing in UK as a UK Expat

Originally Posted by Scamp


Wrong crowd buddy. Your number gets blocked when you start cold calling these products.
Not my number buddy, I don’t cold call anyone. In fact I’m going through the process at the moment to become the approved adviser for NEOM. My point wasn’t about cold calling, I agree it’s very irritating. You are wrong about offshore savings products though, a lot of these now facilitate adviser charging like in the UK. There’s absolutely no issue with these, if you use the right adviser. Why would someone not want to invest their offshore tax free income into a tax free investment. Its an absolute no brainier!
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Old Dec 5th 2022, 8:56 am
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Default Re: Buying/investing in UK as a UK Expat

Originally Posted by Duoduo
Not my number buddy, I don’t cold call anyone. In fact I’m going through the process at the moment to become the approved adviser for NEOM. My point wasn’t about cold calling, I agree it’s very irritating. You are wrong about offshore savings products though, a lot of these now facilitate adviser charging like in the UK. There’s absolutely no issue with these, if you use the right adviser. Why would someone not want to invest their offshore tax free income into a tax free investment. Its an absolute no brainier!
God help those poor folks at NEOM. You've seen the thread right? It's going to be easy pickings, lots of savings to 'advise' on. ​
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Old Dec 5th 2022, 9:35 am
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Default Re: Buying/investing in UK as a UK Expat

Not sure which thread you mean? I don’t see it like that, people will need my help and I want to do the best I can for them. As you say and which I agree on, there are lots that need professional help with savings.
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Old Dec 5th 2022, 10:17 am
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Default Re: Buying/investing in UK as a UK Expat

Originally Posted by Duoduo
Not sure which thread you mean? I don’t see it like that, people will need my help and I want to do the best I can for them. As you say and which I agree on, there are lots that need professional help with savings.
The complete opposite. I think lots of people moving overseas for the first time to a tax-free life should do everything they can to avoid 'professional' help in this part of the world.

Hopefully they'll all google a bit first or ask around with people who've been burned by these companies etc.
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Old Dec 5th 2022, 10:45 am
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Default Re: Buying/investing in UK as a UK Expat

Originally Posted by Scamp
The complete opposite. I think lots of people moving overseas for the first time to a tax-free life should do everything they can to avoid 'professional' help in this part of the world.

Hopefully they'll all google a bit first or ask around with people who've been burned by these companies etc.
The only companies that should be advising in Saudi are the ones who have gone through the process of obtaining a Saudi licence and been approved. Fortunately, I can say the company I work with have.

Not all advisers are bad! Avoiding professional advice is far from what anyone should be doing. If you think someone who is highly skilled in engineering, procurement or even green energy is more qualified than a UK qualified professional adviser to make the best financial decisions with their money, well you are mistaken buddy.

Hopefully you have the time to watch markets all day every day, know legislation/tax product rules inside and out and can choose the best performing fund options to grow your money.

Good luck with that…
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Old Dec 5th 2022, 1:22 pm
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Default Re: Buying/investing in UK as a UK Expat

Originally Posted by Duoduo
The only companies that should be advising in Saudi are the ones who have gone through the process of obtaining a Saudi licence and been approved. Fortunately, I can say the company I work with have.

Not all advisers are bad! Avoiding professional advice is far from what anyone should be doing. If you think someone who is highly skilled in engineering, procurement or even green energy is more qualified than a UK qualified professional adviser to make the best financial decisions with their money, well you are mistaken buddy.

Hopefully you have the time to watch markets all day every day, know legislation/tax product rules inside and out and can choose the best performing fund options to grow your money.

Good luck with that…
I'd far rather put my money on black or red than a paid 'adviser' in this region - at least the odds are (almost) 50/50 in that instance.
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Old Dec 5th 2022, 1:36 pm
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Default Re: Buying/investing in UK as a UK Expat

Originally Posted by Duoduo
The only companies that should be advising in Saudi are the ones who have gone through the process of obtaining a Saudi licence and been approved. Fortunately, I can say the company I work with have.
That doesn't necessarily mean anything though. There's an infamous well known company that is blocked on this forum after an endless stream of bad reviews. They are authorised in lots of countries, but apparently still utterly appalling.

Not saying that's the case with your company of course (hopefully it's not the same one!) but just saying that being licensed can mean diddly squat when it comes to being trustworthy or reputable.

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Old Dec 5th 2022, 3:27 pm
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Default Re: Buying/investing in UK as a UK Expat

Originally Posted by christmasoompa
That doesn't necessarily mean anything though. There's an infamous well known company that is blocked on this forum after an endless stream of bad reviews. They are authorised in lots of countries, but apparently still utterly appalling.

Not saying that's the case with your company of course (hopefully it's not the same one!) but just saying that being licensed can mean diddly squat when it comes to being trustworthy or reputable.

I can confirm we are not that company. Saudi regulation is pretty tough going and we are the first company in the world. I think for me, my time working under UK regulation gives me much more credibility than the cowboys.

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