The Lemon Fool

I used the HSBC website to make the initial application for a current account. As far as I remember, there were a couple of phone calls and at least one exchange of snail mail. I remained in Italy throughout, and the process took about 2 or 3 months.

Thanks Rob,

I'll look at the website again and simply start the process and see where I get. I really only need a UK account for my Charles Stanley (CS) account as Barclays closed my account last year due to Brexit. CS have said they charge GBP 25.00 for any transfer of funds outside the UK and I'm not sure they'll accept my Revolut account, even though I can give them a sort code and account number - we'll see! Thanks once again.

Brendan

Does anybody know if HSBC, or any other UK based banks, are still allowing people without a UK address to open an account? I can’t find any except Revolut and HSBC who have an “Expat account that’s based in Jersey , but I’m not sure if that will cause me problems going forward.

HarryCat wrote:Does anybody know if HSBC, or any other UK based banks, are still allowing people without a UK address to open an account? I can’t find any except Revolut and HSBC who have an “Expat account that’s based in Jersey , but I’m not sure if that will cause me problems going forward.

I have heard that HSBC and Santander will open accounts for expats who live in the same country as me, but I suspect that it may be different depending on which country you actually live in.

torata

torata wrote:

HarryCat wrote:Does anybody know if HSBC, or any other UK based banks, are still allowing people without a UK address to open an account? I can’t find any except Revolut and HSBC who have an “Expat account that’s based in Jersey , but I’m not sure if that will cause me problems going forward.

I have heard that HSBC and Santander will open accounts for expats who live in the same country as me, but I suspect that it may be different depending on which country you actually live in.

A few years ago I asked HSBC if they have a branch in Portugal and they said not. And this is the most global of UK banks.

I guess they might move your branch to the Isle of Man or some such. Personally if I were emigrating I would move all accounts and assets out of the UK.

Lootman wrote:

torata wrote:I have heard that HSBC and Santander will open accounts for expats who live in the same country as me, but I suspect that it may be different depending on which country you actually live in.

A few years ago I asked HSBC if they have a branch in Portugal and they said not. And this is the most global of UK banks.

I guess they might move your branch to the Isle of Man or some such. Personally if I were emigrating I would move all accounts and assets out of the UK.

How easy or not is it for a Brit to open a bank/brokerage account outside of the UK without a residential address in that country. Increasingly that seems to have become more difficult, or being threatened as being treated as a tax evader even though UK taxation levels could rise to punitive/unfair (theft) levels. 1968 and Lab (Roy Jenkings) applied a retrospective tax that amounted to a 130% top rate level, yep - at a certain rate every £1 earned had to be handed over to the taxman, along with a additional 30p. Around that year the Beatles were singing Taxman "19 for you 1 for me" ... in reflection of 95% taxation rates.

Lootman wrote:

torata wrote:I have heard that HSBC and Santander will open accounts for expats who live in the same country as me, but I suspect that it may be different depending on which country you actually live in.

A few years ago I asked HSBC if they have a branch in Portugal and they said not. And this is the most global of UK banks.

I guess they might move your branch to the Isle of Man or some such. Personally if I were emigrating I would move all accounts and assets out of the UK.

I've not had cause to ask but I think the GFC caused lots of banks to re-examine their footprint. HSBC do operate in Spain (well I'm fairly sure they have a "branch" in Madrid but I think they binned off Portugal over a decade ago.

1nvest wrote:How easy or not is it for a Brit to open a bank/brokerage account outside of the UK without a residential address in that country. Increasingly that seems to have become more difficult, or being threatened as being treated as a tax evader even though UK taxation levels could rise to punitive/unfair (theft) levels. 1968 and Lab (Roy Jenkings) applied a retrospective tax that amounted to a 130% top rate level, yep - at a certain rate every £1 earned had to be handed over to the taxman, along with a additional 30p. Around that year the Beatles were singing Taxman "19 for you 1 for me" ... in reflection of 95% taxation rates.

Surely someone not resident in the UK would/should seek to open a bank/brokerage account in their country of residency?

I'm not sure this is really an issue - if I'm UK tax resident I open a UK brokerage account with a UK address. If I'm German tax resident then the same follows but with German based accounts etc etc.

I'm not sure tax evasion has anything to do with it - you simply opt for the easiest way to get a service provided.

the0ni0nking wrote:

1nvest wrote:How easy or not is it for a Brit to open a bank/brokerage account outside of the UK without a residential address in that country. Increasingly that seems to have become more difficult, or being threatened as being treated as a tax evader even though UK taxation levels could rise to punitive/unfair (theft) levels. 1968 and Lab (Roy Jenkings) applied a retrospective tax that amounted to a 130% top rate level, yep - at a certain rate every £1 earned had to be handed over to the taxman, along with a additional 30p. Around that year the Beatles were singing Taxman "19 for you 1 for me" ... in reflection of 95% taxation rates.

Surely someone not resident in the UK would/should seek to open a bank/brokerage account in their country of residency?

I'm not sure this is really an issue - if I'm UK tax resident I open a UK brokerage account with a UK address. If I'm German tax resident then the same follows but with German based accounts etc etc.

I'm not sure tax evasion has anything to do with it - you simply opt for the easiest way to get a service provided.

The UK is increasingly becoming a banana republic, in such case the common advice is NOT to keep your money in your home country. Turkey, Chile ...etc. are prime examples where those who held their money in say Canada were far better placed than those whose home and money were under the same state control. It's not tax evasion, but those that set the laws can at times set 100% (or higher) tax (confiscation) rates, and brand those that do seek to protect their own money by not keeping it all within the states reach as being 'tax evaders'.

The more barriers increase, the more that is a indication that a confiscation is nearer (fair tax is reasonable, punitive/unfair tax is a confiscation).