Ex-Guardian WM regional director unveils repatriation service

It will help expats tackle challenges in moving back to the UK from Middle East and Asia

|

UK-headquartered IFA firm Shalchi and Partners has launched a specialist advisory service for workers relocating to the UK from expat destinations.

The firm said that it will look to service a portion of the estimated 5.5 million British citizens living overseas that repatriate to the UK every year.

The ‘Expat-Repat’ service will help “British workers negotiate the many financial challenges involved in repatriating to the UK”, including tax compliance, repatriation of foreign currency, mortgage broking, and pension contributions.

First-hand experience

Chief executive Hamzah Shalchi was previously Middle East regional director of Dubai-based Guardian Wealth Management before moving back to the UK last year to launch his own firm, and experienced repatriation issues.

“Returning to the UK after time working overseas as an expat can be a big decision, filled with mixed emotions and financial unknowns,” he said.

“Having been through it ourselves, we are perfectly positioned to address concerns over cross-border taxation liability, holdings in multiple currencies, the validity of insurance contracts, and much more.

“Just as you would hire a haulage company to move your physical belongings, we’re offering a service that moves your financial assets smoothly and seamlessly.

“We work with clients to take the stress out of the move, simplifying their tax situation and making the most of their finances in the UK.”

Huge potential market

The most recent figures published by the UK Office of National Statistics suggest that 784,900 British citizens live in EU countries, excluding Ireland and the UK itself.

Millions more earn a living in Asia, Africa and the Americas, while in the UAE, Brits represent the largest of any western community.

“The UK is a fantastic country to live in and a lot of people want to come back,” said Shalchi.  “Half of all British expats will repatriate at some point, typically after about six years living overseas.

“This gives us a huge potential market and we’re very excited for the future of our service.”

MORE ARTICLES ON