BDO PRIVATE CLIENT SERVICES | ASIA ADVISORY SERVICES GROUP 03
WHY THE UK?
X London and the UK have one of the strongest government-led cyber security frameworks world- wide. In the latest ITU Global Cyber security Index, assessing a market’s cyber security initiatives covering legal, technical, and organisational areas as well as capacity building and cooperation, the UK ranks first amongst all global financial centres. X The UK offers a prime location for accessing the rest of the world and its strong infrastructure, good legal, educational and healthcare systems and robust business regulations ensure that the UK continues to be a leading financial centre. X Although there have been major legislative changes, the UK remains one of the most popular and multicultural jurisdictions for people looking to relocate, and with good reason. X As an alternative to the worldwide basis of taxation, non-UK domiciled individuals are able to, for a period of up to 15 years, elect into the ‘remittance basis’ regime and limit their liability to UK tax on non-UK source income and capital gains to amounts actually remitted (i.e. brought, received or used) to the UK. X With no wealth taxes in the UK, and with other reliefs to encourage business investment here, the UK is a particularly attractive relocation destination for entrepreneurs and their families. X Under the ‘remittance basis’ tax regime the UK continues to provide exceptional opportunities to wealthy individuals moving to the UK to maintain both their wealth and standard of living.
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