Tax

UK Resident?

If you are physically present in the UK for 183 days or more in a tax year you will be resident in the UK for that year.

When Is Someone Considered A “Resident In The Uk”?

Hong Kong nationals are increasingly interested in obtaining residency status in the UK. By being Resident in the UK, one benefits from privileges that would otherwise be restricted for non-residents in the UK. These privileges include access to health care services, schools, and property, among others. Under UK law, ‘resident in the UK’ status is in accordance with the following criteria:

·       You have spent 183 days or more in the UK within the tax year in question

·       You must have owned, rented, or lived in the UK for at least 91 days and spent at least 30 days there.

You are automatically considered to be non-resident if:

·       You spent less than 16 days in the UK within the tax year in question

·       You spent less than 46 days in the UK if you have not been classed as a UK resident in the three previous tax years.

·       You work abroad full-time and have spent fewer than 91 days in the UK, and no more than 30 days were spent working.

Permanent Residency

With this kind of residency, one can live and work in the UK indefinitely and will have no restrictions on working or carrying out business within the UK. The eligibility criteria for permanent residency application in the UK vary depending on the number of years that you have legally resided in the UK and the type of visa you hold.

With a British National Overseas (BNO) visa, Hong Kong citizens can proceed to apply for Indefinite Leave to Remain (ILR) after five years in the UK. After 12 months with Indefinite Leave to Remain, Hong Kong Nationals become eligible for British Citizenship.

To qualify for ILR in the UK, you need the following:

·       To complete continuous five years in the UK with a stable income and proof of work.

·       A detailed record of your time away from the UK during those five years because lengthy periods of absence can affect your ability to obtain ILR

·       You must prove that you have a good knowledge of English and the lifestyle in the UK by completing a compulsory 45-minute test designed for foreign nationals.

While ILR holders enjoy benefits that are not accorded to other foreigners, a few things can lead to the loss of Indefinite Leave to Remain. These include:

1.     Mistakenly seeking to enter the UK as a visitor or if the immigration officer believes that you do not intend to reside in the UK.

2.     Committing an offense that will lead to deportation.

3.     Leaving the UK for a period of more than two years.

With Indefinite Leave to Remain in the UK, one can work and live in the UK without restrictions, but they do not have the same privileges as a UK citizen. As such, they are exempt from voting, holding public office, or applying for a British passport.

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Pitchbook Property Limited and its sales representatives exclusively engage in the sale and promotion of properties situated outside Hong Kong. In accordance with the Estate Agents (Exemption from Licensing) Order (Cap. 511B), we are exempt from obtaining an estate agent’s licence to deal with such properties. We carry on the business of doing estate agency work exclusively in relation to properties outside Hong Kong and are not licensed to deal with any property situated in Hong Kong. All information, figures, and materials provided herein are for reference purposes only and are correct at the time of production but may be subject to change without prior notice. While we endeavour to ensure the accuracy of the information, we cannot guarantee its legitimacy and will not accept any liability for any loss or damage incurred as a result of its use. Purchasers should note that purchasing properties located outside Hong Kong involves risks, including but not limited to changes in market conditions, currency fluctuations, taxes, and legal requirements in the country where the property is located. You are strongly advised to carefully review all relevant information, terms, and conditions, and to seek independent professional advice (legal, financial, or otherwise) before making any property purchase decisions. This document and all related marketing materials are not intended to constitute an offer, solicitation, or recommendation to purchase any property. Pitchbook Property Limited does not act as a legal, financial, or tax advisor in connection with any property transaction. Important Notice: This disclaimer is issued in compliance with the guidelines of the Estate Agents Authority of Hong Kong. Consumer Warning: To buy or not to buy non-local off-plan properties? Assess the risks before you buy!