Wealthy Brits prepare to emigrate

Wealthy Brits prepare to emigrate
Published:  7 Aug at 2 PM
The first six months of 2012 has seen a number of Britain’s wealthy people transferring money overseas in preparation for quitting the country.

The deVere group, a group of advisers, says that affluent Brits feel departing the UK may be the best option for their futures. The group’s chief executive Nigel Green said that in the first six months of the year there was a rise of 37 per cent in the number of enquiries from those with savings and investments with a value of over £250,000 who are contemplating moving overseas compared to the January-June period last year.

The main reason these people are considering the move is so that they can protect their wealth and maintain their lifestyle during their retirement years. The fact that Britain’s richest people are now having to fork out more money for taxes means that relocating overseas where they will pay less taxes has become a viable option.

Green said that although the hike in taxes may be the primary reason, there are other factors which are weighing on people’s minds too. He explained that anti-social behaviour and the level on crime seen in some areas of Britain have led some to believe that they will enjoy a safer environment in pastures new. He added that the constant disappointment of the weather in the UK cannot be overlooked either.