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Everything you need to know about citizenship and residence programs around the globe.
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It is a well-known fact that investment in the United Kingdom is one of the most effective ways of relocating to the country with the right in the future to apply for permanent residence and eventually British citizenship. Besides, contributions to the UK economy is also a good way to earn money.
In this article, we will talk about investing in commercial and residential properties in the UK as a good way to save and increase your capital in the long term.
Those investors that are not prepared to wait for years for the best opportunity to sell their property have another option. Our experts will help you find commercial or residential properties that you can buy to let and start getting regular income from day one.
How much profit your house, flat or a plot of land can generate depends a lot on how well they are managed. Our property experts at Imperial & Legal will make sure that you not only secure the best deal, but:
If we look at other European countries that have less strict requirements, investment in real estate is as good as investment in shares of local businesses. But you can spend millions on a house or land in the UK and still have no immigration status. To apply for an investor visa that is comparable to a European residence permit, you will need to invest at least £2 million in the economy, e.g. in stocks and shares of UK companies.
On the other hand, investment in real estate is less risky than buying shares. UK legislation in no way limits the ownership rights of foreign nationals buying houses, flats, land or commercial properties in the country. They have the same rights and duties as the British nationals.
Please bear in mind that investment in a residential or commercial property can serve in your favour when you apply for a long-term visa to the UK, because it demonstrates the following:
First, let’s understand what freehold means and why it is called free as opposed to non-free?
It is a fact that land always belongs to someone. If your house or warehouse stand on the land that also belongs to you, it is called freehold.
If you only own a flat or a house while the land belongs to somebody else, you are renting the land long-term and it is called leasehold. You are signing a long-term lease with the landowner(s) that stipulates clearly the rent and when it expires.
There is yet another type of property ownership in the UK called commonhold. In this scheme, you own the freehold of a flat while the common areas such as staircases, corridors, land and adjacent territory are jointly owned and managed by all owners in a condominium.
UK real estate market is known to be one of the most expensive, especially if you are buying freehold. To be more precise, we have prepared a table with residential property prices in 15 London boroughs as of April 2020.
The whole purchasing process may take up to 2 months. Here is our step-by-step buyer’s guide for residential properties in Great Britain.
You must know that you will have to pay some taxes and other fees when you buy real estate in Great Britain. The exact amount depends on the terms and conditions of the deal.
By way of an example we will take a house or a flat with 100% upfront payment. For your convenience, we have included all payments in a table below except for the purchase value and stamp duty that we will cover separately.
Therefore, if you have been living and working in the UK for a long time, you can consider buying a property with a mortgage. But in this case your costs will increase by £200 to £2,500 for bank valuation and other services.
You can learn about other taxes that a property owner must pay in the UK in our article here.
There is no stamp duty for British nationals buying their first home that costs less than £300,000. If the value is in the range of £300,001 to £500,000, there is no stamp duty on the first £300,000 and the rest is taxed at 5%.
From April 2021, stamp duty for foreign buyers will be increased by 2%. Therefore, we had to subdivide the table below into more columns: basic rate and additional property rate for UK and foreign nationals.
Calculate your stamp duty
* From April 2021
Even with all additional costs the UK real estate is still a very good investment either for those who want to move to the United Kingdom or those who is looking to save and increase their capital.
No matter what issues you have when buying a house, flat or land in the UK, our qualified lawyers at Imperial & Legal are always happy to provide you with full legal support in searching properties in Great Britain, assisting with completion of a deal and if necessary with your relocation to the UK.
We will work with you to find a customised solution for your immigration, second citizenship, business, tax and other needs.
Real estate in the UK
Visas to the UK
Open a bank account
Start a business in UK
Second passport by investment
One of our qualified advisors will get back to you today or next business day.
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