BNO UK Immigration - UK Immigration Preparation

About United Kingdom

Recently, the British government has repeatedly relaxed the application threshold for BNO British immigration, which has caused a sharp increase in attention and discussion about British immigration.

If you are a BNO holder and intend to immigrate to the UK, you can sign up for ourBritish Immigration Lecture, learn more about BNO UK immigration to prepare for UK immigration as early as possible. You can also contact our UK immigration consultants and UK tax consultants to obtain the latest immigration and tax information, formulate the UK immigration plan that best suits you, and make complete preparations for UK immigration in advance.

BNO UK Immigration Information

The British government has announced that it will provide a naturalization path for British National (Overseas) passport holders and their families in Hong Kong. Hong Kong residents holding BNO can apply for BNO British immigration under relatively relaxed conditions.

The British government allows BNO holders to extend their stay in the UK from half a year to five years, and they can apply for naturalization after six years. BNO British immigration applicants can leave the UK for a maximum of 180 days within 12 months during their stay in the UK.

The British government announced on its website that there are two BNO British immigration visa options to choose from:

• Apply for a 30-months visa first, then apply for an extension of 30 months,
• Apply for a 5-year visa

Holders of BNO British immigration visas will have the right to study and work in the UK, but will not be able to receive social welfare.

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BNO British Immigration Preparation and Application Conditions

For different British immigration plans, applicants need to make different preparations for British immigration. The following are the application conditions for BNO British immigration:

• BNO British Immigration Eligibility Certificate
• Long term resident in Hong Kong
• Financial proof of being able to live independently in the UK for 6 months
• Commit to learning English and integrating into local life after immigrating to the UK
• Health certificate (tuberculosis and physical examination report) issued by a medical clinic recognized by the British Home Office

In addition, whether you are applying for the BNO British Immigration Program or other British Immigration Programs, you need to pay a health care surcharge when submitting your British Immigration application.

UK Immigration Preparation - UK Overseas Tax

The taxation methods in the UK and Hong Kong are different. Many applicants who are considering immigrating to the UK have questions about UK overseas tax. Indeed, the British tax system is very complicated. If you want to implement the BNO British immigration plan, you must understand the British overseas tax system.

1. Global taxation

The UK is a global tax country. When you apply for British immigration and stay in the UK for more than 183 days in the tax year, and become a British tax resident, your UK income and overseas income (including Hong Kong) will be included in the UK overseas tax. Therefore, BNO British immigration applicants will definitely become British tax residents and need to pay British overseas tax. Therefore, BNO UK immigration applicants should include British overseas tax in their UK immigration preparation projects.

However, if your overseas income has been taxed in Hong Kong and certain conditions are met, double taxation relief may be available to reduce your UK overseas tax.

income tax

UK income tax includes salaries, rental income and investment returns. This means that interest, dividends, and even pensions are included in the income tax, and the income tax rate is capped at 45%.

capital gains tax

In addition to income tax, British overseas tax also applies to asset appreciation, such as property sales. In the calculation of asset value-added tax, the tax amount will be calculated based on the asset transaction price difference, that is, the difference between selling and buying. The tax amount can reach up to 28% of the asset appreciation.

inheritance tax

Inheritance tax, which Hong Kong people have less contact with, is also part of the British tax base. The value covered by inheritance tax not only counts the assets left by the deceased, but also includes gifts made within the 7 years before his death. Tax rates can be as high as 40%.

UK Immigration Preparation – #3 Calculate GBP to HKD exchange rate

In addition, BNO British immigration applicants need to understand the different British overseas taxes and also pay attention to the exchange rate conversion issues covered.

In the past few years, the pound against Hong Kong dollar has remained at around 1:10. BNO British immigrants can calculate the actual amount of British overseas tax to be paid based on this exchange rate.

UK Immigration Preparation – #4 Consult a UK Tax Advisor

Because the UK tax system is complex and the tax base is broad, the amount of UK overseas tax can be very high. Therefore, it is advisable to make proper asset arrangements before immigrating to the UK to avoid unnecessary high taxes.

However, the British overseas tax must be assessed based on the circumstances of the British immigration applicant. Applicants can contact our professional British tax consultants to make the best asset arrangement, such as applying for a remittance system, tax planning for British immigration, etc. For details, you can contact our UK immigration consultant to obtain professional UK tax consulting services. In addition, from time to time we will organizeBritish Immigration Lecture, register for our seminars now and learn more from our UK tax advisors!