sheilawastaken
Registered User
- Messages
- 1
Hi all
I moved to London last year and am now tax resident in the UK. I am saving for a deposit for my first home and given that I intend to return to Ireland in the future, I left some of my savings in Ireland with Rabodirect at the time of my move. I recently contacted them to inform them that I believe that as an overseas resident, I should be exempt from DIRT going forwards. They replied stating that they are not authorised to do business with overseas customers and I should close down my account.
Given that I plan to return to Ireland and buy a house there in the nearish future, I don't particularly want to move my savings into GBP. I have emailed several other Irish companies offering online investment accounts (e.g. insurers like Standard Life and Zurich) to ask if any are regulated to have overseas customers but haven't found any so far. I think Davy might be a possibility but it seems more targeted towards larger investors. I generally invest in a mix of index trackers and other passive diversified funds and given the fund size is around 30k, I try to minimise ongoing investment expenses wherever possible.
I have researched Euro denominated alternatives in the UK but been advised that I would need to deposit my investment in GBP (and therefore would end up being hit by fx rate charges etc, seems best to try to avoid this especially given the weak Euro rate at present).
I was hoping someone out there might have been in a similar situation and might have a few words of advice about where to go next to investigate my options, regarding either
1) Alternatives to Rabodirect in Ireland who are authorised by the regulator to have non resident customers
2) Low cost overseas alternatives which are denominated in Euro.
Any suggestions would be extremely welcome!
I moved to London last year and am now tax resident in the UK. I am saving for a deposit for my first home and given that I intend to return to Ireland in the future, I left some of my savings in Ireland with Rabodirect at the time of my move. I recently contacted them to inform them that I believe that as an overseas resident, I should be exempt from DIRT going forwards. They replied stating that they are not authorised to do business with overseas customers and I should close down my account.
Given that I plan to return to Ireland and buy a house there in the nearish future, I don't particularly want to move my savings into GBP. I have emailed several other Irish companies offering online investment accounts (e.g. insurers like Standard Life and Zurich) to ask if any are regulated to have overseas customers but haven't found any so far. I think Davy might be a possibility but it seems more targeted towards larger investors. I generally invest in a mix of index trackers and other passive diversified funds and given the fund size is around 30k, I try to minimise ongoing investment expenses wherever possible.
I have researched Euro denominated alternatives in the UK but been advised that I would need to deposit my investment in GBP (and therefore would end up being hit by fx rate charges etc, seems best to try to avoid this especially given the weak Euro rate at present).
I was hoping someone out there might have been in a similar situation and might have a few words of advice about where to go next to investigate my options, regarding either
1) Alternatives to Rabodirect in Ireland who are authorised by the regulator to have non resident customers
2) Low cost overseas alternatives which are denominated in Euro.
Any suggestions would be extremely welcome!