Month: February 2020

Buying Property Overseas

Well Brexit is happening, it will, however, not stop thousands of Brits find a home overseas.

So some do’s and dont’s, most of these are common sense but you would be surprised.

Do use experts, regulated and authorised estate agents, a good lawyer who speaks English.

Do Not attempt to buy from a friend of a friend with no legal counsel.

Do your research, a great holiday destination does not always make for a new life and home.

Do Not cross your fingers and hope for the best.

Do plan ahead, make sure financially you can sustain the life you want to lead.

When you have found that dream home, one of the most important financial matters is often treated as a last minute chore.

Foreign Exchange.

It is very easy to ask your bank to do the transaction for you, but is it the best for you?

Ask yourself three questions.

Does my bank provide me with someone to discuss my needs, to help me plan the payments?

Does my bank provide me with a real live quote before I decide whether to trade?

Does my bank offer me a fixed rate that can cover a number of payments over a certain time?

I am guessing the answer to all 3 of these is no and yet many people still go ahead and do the trade with their bank.

Why? The normal answer is I can trust them and its easy to organise.

We are regulated and work through the same bank payment systems. It takes 10 minutes to sign up for an account with us and is usually live within a couple of hours. You then have your own dedicated dealer to discuss your requirements. They can give advice and offer live prices which you can either book or decline. You will always know exactly how much it will cost to buy your currency, no hidden fees or charges.

Another reason I have heard to use the bank, I have been a loyal client for 30 plus years I get a good rate.

On average we save our clients around 4%, doesn’t sound much but if you are sending over 200,000 Euros it will cost you an extra £8000 to buy that currency from your bank than from us.

We have just saved you enough to build a pool in the garden.

Another consideration, most people buying a property overseas pay an average 20% deposit and the rest at completion maybe 3 months later.

If you do this through your bank you will request 20% to be sent now and then in 3 months time the remaining 80%. What if the currency markets have moved against you in that time?

You could be seeing extra costs of £5000 plus just by the markets moving a little.

We are able to offer products that can help fix a price now to use in the future. Whatever happens in the time between deposit and final contract you know exactly how much your property is going to cost.

We are here to offer advice and help you save money on your dream home overseas, please feel free to contact us.

#propertyoverseas #foreigncurrency #foreignexchange #overseasproperty


Many people from around the world have made their home and business in China over the least couple of decades. Some go for the long term, some for the experience. The growth of wealth in China has meant that Chinese nationals are looking at using their new found riches to buy properties, businesses and other investments around the world. With the amount of money leaving China it was only a matter of time before the government started tightening the restrictions. This, however has only slowed down not stopped the money jumping the great wall.

In the main foreign nationals are able to move their money as long as they can show tax receipts. It can be a long process and a long meeting with your local bank, so make sure you have all the correct paperwork.

One item of discussion that came up the other day with a client was that of Director Dividends. The client was told these could not be transferred without the relevant tax being paid as dividends were not recognised and this was seen as salary.

We work with a partner based in Hong Kong who can help with issues such as previously discussed.

We are happy to look at any situation and see if we can provide a solution to the dilemma. Please feel free to get in touch.

#RMB #Chinaforeignexchange #chinacurrencyrules #movingmoneyoutofchina