HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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While UK and Australia properties gives decent rental income and impressive capital appreciation, Hong Kong investors target them also for their next generation.
Unveiling its policy plans as the Conservative Party conference began yesterday, the government said it would begin consultations on Sunday to increase the stamp duty on individuals and companies not paying tax in the UK.
Under the new British government plan – which will be put in place when Beijing formally enacts the law – every one of the 3 million Hongkongers who qualify for a British National (Overseas) passport and their dependents could relocate to the United Kingdom to stay and work or study for extendable periods of 12 months, creating a path to citizenship.
The UK Home Secretary has asked that the UK should grant BN(O) passport holders and their family dependents in Hong Kong the right to enter and reside in the UK, with a pathway to settlement after 5 years and the right to apply for citizenship.
Millions of leaseholders will be given a new right to extend their lease by 990 years. Changes could save households from thousands to tens of thousands of pounds. Elderly also protected by reducing ground rents to zero for all new retirement properties.