ProACT Partnership Expatriate Advice

View Original

4 Review Steps for Expats Planning for EU Brexit

4 Review Steps for Expats Planning for EU Brexit

Sam Orgill of ProACT Expatriate Advice considers what we know so far and recent developments in Brexit and the 4 areas of impact Expats should consider and review to protect Residency Rights, Tax on Income, securing Overseas Property, Medical Cover post Brexit.

www.proactpartnership.com/register

1.       The UK will EU Brexit on 29/3/2019 followed by a potential transition period of two years.  During this time there should be no change in rights for living and working abroad in the EU for British in the EU or Expats living in the UK. After this time in 3.5 years you will have to have visa and residency rights as a non EU citizen.  All these arrangements exists for non EU nationals, in each country.  Review the requirements for the countries in which you are living and working. Take steps to secure residency or dual citizenship and retain rights to live and work in the UK and EU.

2.       Tax agreements are not affected by EU Brexit.  The tax arrangements will still be the same after EU Brexit.  Be aware of new Automatic exchange of information rules impacting expats living and working and trading overseas.  Review the tax liability you have in your country of tax residence.  Be aware future residency and visa rights may have a minimum income requirement.

3.       Protect your overseas property assets.  EU countries have common laws for Wills and this may include force heirship that means unmarried partners and step children don’t benefit.  There may also be capital gains taxes payable on sale of overseas property.  Under automatic exchange of information overseas property could suffer inheritance tax up to 40%.  Make a Will for overseas property and consider using a trust to protect you overseas assets.

4.       Universal Medical Cover from a State Health scheme, is made available throughout the EEA (including EU counties) using EHIC cards, until the end of the transition period after Brexit. Even so the cover has limits and is not directly controlled by the EU.  After Brexit Expats may need private medical cover, depending up how the UK and other EU countries react to bilateral health agreements after Brexit and transitions.  Consider how you will cover your needs in the coming years. Private cover now could be a future cost saving. 

Find out more at our website www.proactpartnership.com

CONTACT US

We have created a Free down load to read more on this topic :

FREE DOWNLOAD

ProACT Partnership Expat Experts offer tax, property, investment and business advice for people living and working and investing abroad. Find out more at our website. We value your feedback, please comment and share on our articles on our website www.proactpartnership.com/blog

Stay in touch by registering for our free newsletter www.proactpartnership.com/register

Sam Orgill

ProACT Partnership - Tax Saving Experts

TAX - BUSINESS - WILLS & ESTATES - IMMIGRATION - PROPERTY SERVICES

OFFICE TEL: +357 26 819 424

www.proactpartnership.com       info@proactpartnership.com 

ProACT Partnership Expatriate Advice

ProACTSam Orgill

ProACT Partnership - Tax Saving Expat Experts

--

TEL: +357 26 819 424

---

ProACT Private Client Expatriate Advice Services for professionals, business and the retired

Living and Working Abroad, relocating overseas,

Overseas Property Investors,

Expat Business Network,

Tax Saving Expat Experts,

EU Brexit for Expats Updates

--

Register and subscribe to our free newsletters click here

Click Here to join our mailing lists for regular updates

ProACT Partnership Expat Experts will keep you informed on Topic of Your Choice,

--

Contact-Us:

info@proactpartnership.com

--

ProACT Web:

www.proactpartnership.com

--

I want to hear from you.

What are your Expat Questions?Comment on my Facebook page, and if you liked this video, share it with your friends and family on Facebook and Twitter.

--

Also, tweet me your questions @ProACT4Expats, and maybe next week we will feature your issue in our VLOG and BLOG.

---

Share the news - forward to a friend If the article is helpful, please read more at:

Expat Expert Blog - www.proactpartnership.com/blog

---

We Value Your Feedback - Please Like Comment Share and Follow

--

Facebook Profile:  https://www.facebook.com/proactsam

---

Facebook Page: https://www.facebook.com/ProACTExpatriateTax

---

Instagram: https://www.instagram.com/proactsam ---

Twitter: https://twitter.com/ProACT4Expats

---

Instagram:

https://www.instagram.com/proactsamsays

---

Linked In:

https://www.linkedin.com/in/samorgill

--

ProACT Partnership - Expatriate Advice - Tax Saving Experts