UK-headquartered IFA agency Shalchi and Companions has launched a specialist advisory service for employees relocating to the UK from expat locations.
The agency mentioned that it’s going to look to service a portion of the estimated 5.5 million British residents residing abroad that repatriate to the UK yearly.
The ‘Expat-Repat’ service will assist “British employees negotiate the numerous monetary challenges concerned in repatriating to the UK”, together with tax compliance, repatriation of overseas forex, mortgage broking, and pension contributions.
Chief govt Hamzah Shalchi was beforehand Center East regional director of Dubai-based Guardian Wealth Administration earlier than moving back to the UK last year to launch his own firm, and skilled repatriation points.
“Returning to the UK after time working abroad as an expat could be a large determination, stuffed with blended feelings and monetary unknowns,” he mentioned.
“Having been by it ourselves, we’re completely positioned to handle issues over cross-border taxation legal responsibility, holdings in a number of currencies, the validity of insurance coverage contracts, and rather more.
“Simply as you’ll rent a haulage firm to maneuver your bodily belongings, we’re providing a service that strikes your monetary property easily and seamlessly.
“We work with purchasers to take the stress out of the transfer, simplifying their tax scenario and profiting from their funds within the UK.”
Big potential market
The latest figures revealed by the UK Workplace of Nationwide Statistics counsel that 784,900 British residents stay in EU international locations, excluding Eire and the UK itself.
Tens of millions extra earn a residing in Asia, Africa and the Americas, whereas within the UAE, Brits symbolize the most important of any western group.
“The UK is a unbelievable nation to stay in and lots of people need to come again,” mentioned Shalchi. “Half of all British expats will repatriate sooner or later, usually after about six years residing abroad.
“This provides us an enormous potential market and we’re very excited for the way forward for our service.”