Relocation and banking abroad
Banking, investment and financial relocation services, from Barclays Wealth International
For anyone facing relocation, the immediate future will be filled with a sense of excitement mixed with a twinge of trepidation.
Your company may have provided you with a relocation package that will look after many of your concerns, particularly those that pertain to your job. But the act of relocating presents many other challenges: personal, social and financial.
At Barclays Wealth, we are ideally placed to help with the latter. As a global bank, we have an in-depth knowledge of the financial implications - and opportunities - presented by overseas relocation. Depending on your circumstances and the country you relocate to, our relocation services include:
- Practical advice
- Fact-filled country guides
- International bank accounts
- Offshore saving
- Investments with potential tax planning opportunities
- 24/7 online & telephone banking.
In short, we do everything we can to make expat relocation happen in a smooth and efficient manner. For more information about our services, click below and we'll contact you when it's convenient for you.
And for a limited period, Barclays Wealth International are offering new clients the opportunity to earn a fixed 3% AER/Gross* on GBP savings, and a fixed 2.5% AER/Gross on Euro (EUR) and US Dollar deposits equivalent to £10,000 to £250,000. Withdrawals are not permitted during the 12 month New Client Term Deposit** and interest is paid upon deposit maturity.
International bank account features
The international bank account from Barclays Wealth International forms the core of our day-to-day banking service. It is potentially one of the best ways an expatriate can capitalise on their status.
In addition, our banking service offers:
- A full range of international banking products and services available in major currencies
- Advice from our team of specially trained Personal Bankers
- Easy access and control through International Telephone and Online Banking
- Discounted international online payments
- Investment and mortgage advice from our specialist advisers.
Offshore investments
Offshore investments can be key to making the most of your wealth. The trick lies in finding the right ones. Our highly regarded financial management services are available to all Barclays Wealth offshore banking clients. These services include:
- A carefully managed investment portfolio
- World-class offshore investment specialists
- A variety of investment funds such as offshore investment bonds
- Currency trading facilities
- Commodity investment opportunities
- Offshore investment advice.
When you relocate, you will be able to take advantage of opportunities that are simply not available in your home country. With a few well-advised decisions you could broaden your investment portfolio.
Capital security
Today, more than ever, you will demand a safe haven for your wealth. We aim to offer you a choice of secure environments for your account.
You could base your banking in London, the heart of the international financial services industry. Or you might choose Gibraltar, which offers an attractive offshore account location. Alternatively, you could locate your account in the Isle of Man or Jersey, both of which are able to offer local and offshore banking facilities due to their special status as British Crown dependencies.
Choosing the Isle of Man or London as your account location also means that your wealth is protected by the Depositors' Compensation Scheme1.
No matter which account location you choose, you'll benefit from:
- An economically stable country for your money
- The security of banking in a highly regulated financial market
- An excellent reputation for providing financial services
- Potential financial planning opportunities.
Relocation checklist
When relocating overseas, everyone's to-do list will be different. So this is not an exhaustive list, nor is it necessarily in the correct chronological order. But it does give you an idea of the scale of the task:
- Seek specialist tax advice2. We can introduce you to our preferred tax partners, Ernst & Young
- Appoint a property management company for your UK property
- Arrange international healthcare
- Enquire about visa requirements, plus work and residency permits
- Renew your passport if necessary. It should be valid until you return home
- Check the driving licence requirements
- Make a will
- Find a reputable removal company
- Check quarantine rules for pets
- Try to learn the language and local customs. A few simple phrases is better than nothing
- To retain your right to vote in the UK, complete an Electoral Commission form
- Get insurance that covers your belongings before, during and after the move
- Make an inventory of all your possessions
- Investigate local schools in your new country. Is there a nearby international school?
- Ensure any electrical equipment you take is compatible with the local voltage
- Arrange for your mail to be forwarded
- Send change of address cards or emails and cancel subscriptions to clubs etc
- Research the area you'll be moving to. Go online to check blogs and forums
- Make sure you carry a few essentials with you. Bottle opener? Tea bags?
- Leave photocopies of your passport and important papers with a relative or solicitor.
For more information on our relocation services, click below and we'll contact you when it's convenient for you.
1 In respect of deposits with a UK office, payments under the Scheme are limited to £50,000 (which is 100% of the first £50,000). Most depositors, including individuals and small firms, are covered. The Scheme covers deposits made with the offices of the bank within the European Economic Area and deposits denominated in all currencies are treated alike.
2 You have sole responsibility for the management of your tax and legal affairs, including making any applicable filings and payments and complying with any applicable laws and regulations. We have not provided and will not provide you with tax or legal advice and recommend that you obtain your own independent tax and legal advice tailored to your individual circumstances.
† Lines are open 7am to 8pm weekdays and 8am to 5pm weekends and UK bank holidays local time. Call charges may vary. Please check with your local telecoms providor. Calls may be recorded for training and security purposes.
The products and services described on this page are provided by the following companies, which are part of Barclays Wealth: Barclays Bank PLC in London, Barclays Private Clients International (Gibraltar) Limited in Gibraltar and Barclays Private Clients International Limited in the Isle of Man, Jersey and Guernsey. For further Information on these companies and Barclays Wealth please read the Important Information.
Products and services on this site may not be available in certain jurisdiction. In particular, these products and services are not being offered in Japan or the United States or to US residents. For full details of exclusions and disclaimers please see the Important Information before proceeding. Each Barclays Wealth company reserves the right to make a final determination on whether or not you are eligible for any particular product or service.
*AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year. Gross is the rate of interest payable before tax is deducted. For example, if £100,000 is deposited in the New Client Term Deposit for the full 12 months at a rate of 3.00% AER, £3,000 in interest would be earned. Therefore the total return at the end of the 12 month term would be £103,000.
**Offer may be withdrawn at any time. Eligibility criteria apply.
