Financial services firm Shalchi and Partners has launched a specialist advisory service for expat workers relocating to the UK from countries in the Middle East and Far East.
The firm said that every year, a portion of the estimated 5.5 million British citizens living overseas repatriate to the UK and as such it has launched ‘Expat-Repat’ to 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.
Chief executive Hamzah Shalchi previously ran Dubai-based Guardian Wealth Management before moving back to the UK last year to launch his own firm. He has first-hand experience of the complications involved in shifting his savings and assets in accordance with the British tax system.
He said: “Returning to the UK after time working overseas as an expat can be a big decision, filled with mixed emotions and financial unknowns. 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.”
Shalchi and Partners was launched in the UK this year and also offers a full suite of advisory services in such areas as pensions and retirement, savings and investments and wealth management.