UK wealth managers say American clients are moving money to Britain

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The leaders of the British wealth say that the inquiries based on the United States are worried about the actions of Donald Trump and his administration and strive to make money from the country.

Ratbo, RBC Brewin Dolphin, Evelyn’s Partners and Schroders Cazenove, told the Financial Times that more customers wanted to move the greater to the UK and others had already done.

The Chief Executive Officer of the US CEO of the US CEO in London said that last year has been “a significant increase in the new customer’s inquiries and assets” during the first three months of this year. “

Senior RBC Wealth Management Manager Nick Richi said that the number of US customer surveys is “significantly higher” compared to the first term of Trump’s office. US customers wanted to move to their wealth “5 to 50 percent” to be managed in the UK or wave islands, he added that at the lower end of the scale.

The shifts were due to “security and security concerns,” he said that he had “some rich customers who later moved that step in the future, not to keep an extra layer of protection.”

“It’s their money for the escape,” said James Bloss-Lynch, the investment director of Rathbones.

“I had a customer the other day that reset his money to put a quarter here [managed by Rathbones in the UK] Meanwhile, it was much smaller money, “he said, adding that it was still” early days “in the new presidency, but the discussions with other customers were” collecting candles. ”

Trump administration on Wednesday Cleansing tariffs were announced About the import of USA. The market reply turned off US stocks for $ 0.4 in the next two days.

“There is a growing concern that the president acts outside the current rules and conventions and can change the legislation that affects the implementation of investors in foreign markets and currencies.

The growth of interest in the United States is coming, because the other rich individuals leave Britain after the government removed the “non-domicile” system, which has offered lower taxes to people living in the country.

“Most of the rich international popularity is far from Great Britain, but we have had more surveys by Americans,” said Nick Reiv, financial planners, the financial planner of Evlin’s partners. He added that he had one customer who wanted to move the assets from the US legal system to buy assets in case of buying the property of Great Britain.

The new British residents will be released on the spot of the currency and profit for their first four years, if they have been non-resident in the last ten years.

Four years later, they must pay taxes on world revenue and profits. Some consultants believe that people use the UK as a stop missing while they are developing a longer-term program.

“The United Kingdom can act as something in the parking lot,” said Rich, adding that customers were studying Italy, Switzerland and Dubai, but “parking in the park in the Great Britain.”