savings in uk

[bryanc]

i have about 100k pounds in a uk bank acct doing nothing..will probably need in 3 yrs or so-is there anything i can invest in as a non resident?i know i cant do the isas etc due to non residency-but anything i could invest in?seems such a waste!..thanks in advance for any tipes

[bryanc]

sorry to partially answer my own question-can someone tell me why this is a bad investment and something better that it should be invested in?
again ,thanks for everyones kind advice on here..

http://www.bannerjapan.com/ebisu-income ... le-of-man/

[Tkydon]

How long have you been in Japan, and how long do you intend to stay?

You become Resident for Tax Purposes if you establish a home (rent or buy) of if you have been here for more than 365 days.
You then become a Permanent Resident for Tax Purposes if you have been here for more than 1825 days (5 years) in the last 10 years.

[fools_gold]

sorry to partially answer my own question-can someone tell me why this is a bad investment and something better that it should be invested in?
again ,thanks for everyones kind advice on here..

http://www.bannerjapan.com/ebisu-income ... le-of-man/

Mmm... Firstly, it's in Australian dollars, so there's the currency risk to think about. Secondly, it's not diversified at all. It's concentrated into one particular country and one particular sector (construction). Then, within that sector, the fund seems to lend money out to about 20-25 projects at a time. Finally there's the credit risk. There's no information about what companies the fund lends to and their credit worthiness.

A few years ago I invested about ￥100,000 with a Japanese social lending platform called Maneo. Although the setup was a bit different, they also lent money for construction projects. They didn't vet the loans properly and quite a few went bad. I ended up losing half of my investment. It wasn't a lot in the grand scheme of things, but it opened my eyes to the risks involved with these kinds of investments.

Also if you're going to need the money relatively soon, I think the standard advice is not to invest it.

[Wales4rugbyWC23]

i have about 100k pounds in a uk bank acct doing nothing..will probably need in 3 yrs or so-is there anything i can invest in as a non resident?i know i cant do the isas etc due to non residency-but anything i could invest in?seems such a waste!..thanks in advance for any tipes

Investing in ISAs are tricky without a UK address, it is possible to invest in unit trusts without the ISA tax wrapper but again need a UK address and a family who can help you with your application from my experience. I went with Hargreaves Landsdown with index funds. Good luck

[Beaglehound]

The three year timeframe kind of rules out anything risky, and as you say, as a non-resident you can’t even open a decent rate savings account. I would actually be thinking about bringing it over here in stages over the three years to mitigate against the exchange rate being rubbish when you have no choice but to send it.

[bryanc]

have a uk address and family to help but worried that if i apply for isa etc there and the ideco here-then it would be illegal..

also,sorry for not making it clear but money would be used in a few yrs in uk not brought back to japan

[Beaglehound]

have a uk address and family to help but worried that if i apply for isa etc there and the ideco here-then it would be illegal..

also,sorry for not making it clear but money would be used in a few yrs in uk not brought back to japan

ISA is a definite no-no, and every savings account requires you to tick a box saying that you are a U.K. resident. Personally I would not be comfortable ticking that box but there’s probably a good chance of no consequences if you have a U.K. address.

[beanhead]

I think setting up any kind of new account in the UK will be difficult/impossible. The money-laundering regulations introduced after 9/11 mean the banks are really strict now. Having an address in the UK is not enough, you also need proof of residence such as utility bills.

So, the only thing I can think of is to ask your existing bank/building society if there is anything they can do for you in terms of a 'high interest' account.
3 years is too short to consider investing, really, as was pointed out.
If you don't need the whole amount in 3 years' time, but just part of it, then a stock fund/bond fund allocation could be considered, with the allocation being changed to become more conservative each year. This is how I am planning to manage the funds needed for education for my kids. To do that, however, you would have to be able to actually invest the money somewhere in the world...