THE PRIME PORTFOLIO STORY
Since 1990 we have acquired, let and managed some of the most prestigious residential
homes and investments on behalf of our clients in Prime Central London.
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"THE BEST ADVICE"
“The best advice available for Central London – highly selective, very critical and good at steering over-eager purchasers away from buying unwisely.”
"EXTREMELY KNOWLEDGEABLE"
“Extremely knowledgeable about the top end of the London market – we have complete faith in their judgement of what to buy and what not to buy.”
"PROFESSIONAL SERVICE"
“As a client of 10 years, I have enjoyed the responsive and professional service coupled with sound ongoing advice and property management.”
PRIME TIME
2021 eprivateclient Top Residential Property Buyers
We are delighted to have received once again recognition of our quality of service and performance after being named by eprivateclient as one of the 2021 Top Residential Property Buyers.
Eprivateclient is the leading website and news service for private client practitioners. Their rankings follow a detailed analysis of the leading residential property buying firms in the UK. These rankings are not based on size alone but on reputation, quality of service, how the firm has fared in the past 12 months and how it is viewed by other bodies and publications as well as the extent of the UK offering.
We are very proud to have been accorded this accolade for the sixth time now.
Opportunities for Hong Kong nationals
Whilst it is still possible for foreign investors to buy and own property in the UK without requiring any form of immigration status, there are also many options available to enable investors to live in the UK and allow their children to benefit from the prestigious educational system.
The British Government introduced a new visa for British Nationals Overseas (BNOs), currently resident in Hong Kong. This visa potentially offers a route to the UK for an estimated 2.9m people who registered as BNOs before 1997 when Hong Kong ceased to be a UK territory and became a Special Administrative Region of the People's Republic of China.
With no minimum financial threshold (other than sufficient funds for maintenance), this immigration route will allow applicants to work, study, be self-employed or self-sufficient in the UK, giving BNOs and their families a wide remit in the UK, compared to other immigration categories. The visa can be granted to BNOs, the dependant family members, and their adult children who are members of their household for up to 5 years. After 5 years of continuous residence in the UK, the visa holder can apply for Indefinite Leave to Remain, giving them the right to live in the UK indefinitely, and the following year being eligible to apply for British Citizenship, should they wish.
The provisions of the visa are very generous, not only by the lack of conditions imposed upon the applicant but also because of the extent of family members who can apply as part of the BNO status holder's dependants, including:
·their dependant partner;
·their children or grandchildren under the age of 18; and
·in limited circumstances, other dependant family members such as parent or grandparent of the BNO citizen.
Other household members who could also qualify include adult children born on or after 1 July 1997 of a BNO citizen, provided they form part of the same household.
The British Government are also keen to continue to attract talent to the UK and in their Budget statement of March 2021, the Chancellor announced a number of new immigration categories including:
·Global talent visa;
·Highly skilled migrant;
·innovator visa;
·Global Business Mobility visa for overseas businesses to establish a presence or transfer staff to the UK; and
·expansion of the Global Entrepreneur Programme
UK Plc is clearly open for business…
With a dedicated immigration team in the UK and an office in Hong Kong, we are well placed to advice people on their global mobility needs and guide them through the different options available to them.
Tracy Evlogidis
Withersworldwide
Partner | London
Immigration
The British Government introduced a new visa for British Nationals Overseas (BNOs), currently resident in Hong Kong. This visa potentially offers a route to the UK for an estimated 2.9m people who registered as BNOs before 1997 when Hong Kong ceased to be a UK territory and became a Special Administrative Region of the People's Republic of China.
With no minimum financial threshold (other than sufficient funds for maintenance), this immigration route will allow applicants to work, study, be self-employed or self-sufficient in the UK, giving BNOs and their families a wide remit in the UK, compared to other immigration categories. The visa can be granted to BNOs, the dependant family members, and their adult children who are members of their household for up to 5 years. After 5 years of continuous residence in the UK, the visa holder can apply for Indefinite Leave to Remain, giving them the right to live in the UK indefinitely, and the following year being eligible to apply for British Citizenship, should they wish.
The provisions of the visa are very generous, not only by the lack of conditions imposed upon the applicant but also because of the extent of family members who can apply as part of the BNO status holder's dependants, including:
·their dependant partner;
·their children or grandchildren under the age of 18; and
·in limited circumstances, other dependant family members such as parent or grandparent of the BNO citizen.
Other household members who could also qualify include adult children born on or after 1 July 1997 of a BNO citizen, provided they form part of the same household.
The British Government are also keen to continue to attract talent to the UK and in their Budget statement of March 2021, the Chancellor announced a number of new immigration categories including:
·Global talent visa;
·Highly skilled migrant;
·innovator visa;
·Global Business Mobility visa for overseas businesses to establish a presence or transfer staff to the UK; and
·expansion of the Global Entrepreneur Programme
UK Plc is clearly open for business…
With a dedicated immigration team in the UK and an office in Hong Kong, we are well placed to advice people on their global mobility needs and guide them through the different options available to them.
Tracy Evlogidis
Withersworldwide
Partner | London
Immigration
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2% STAMP DUTY LAND TAX SURCHARGE FOR NON-RESIDENTS
From today, 1 April 2021, non-residents purchasing residential property in the UK will pay different rates of SDLT to UK residents. Non-residents will be subject to a 2% surcharge on each SDLT rate band for purchases of freehold and leasehold residential property.
The government’s website states that you are treated as non-UK resident for the purposes of SDLT if you are not present in the UK for 183 days or more during the 12 months before your purchase.
The surcharge will also apply to certain UK resident companies which are controlled by non-UK residents.
Transitional rules provide that the surcharge does not apply where a purchase contract has been:
• “substantially performed” (in effect, completed) before 1 April 2021
• entered into before 11 March 2020.
Please note that the 3% surcharge payable by any purchaser who already owns a property, whether in the UK or elsewhere in the world, will apply in addition to this new 2% surcharge.
If you purchase a property for a price exceeding £1.5m, your top rate of SDLT (on any amount over £1.5m) could be as much as 17% if at completion you will own more than one property anywhere in the world.
The government’s website states that you are treated as non-UK resident for the purposes of SDLT if you are not present in the UK for 183 days or more during the 12 months before your purchase.
The surcharge will also apply to certain UK resident companies which are controlled by non-UK residents.
Transitional rules provide that the surcharge does not apply where a purchase contract has been:
• “substantially performed” (in effect, completed) before 1 April 2021
• entered into before 11 March 2020.
Please note that the 3% surcharge payable by any purchaser who already owns a property, whether in the UK or elsewhere in the world, will apply in addition to this new 2% surcharge.
If you purchase a property for a price exceeding £1.5m, your top rate of SDLT (on any amount over £1.5m) could be as much as 17% if at completion you will own more than one property anywhere in the world.