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With the recent unrest in Hong Kong, wealthy Chinese residents are becoming worried about the city’s status as a safe haven for their investments. Hong Kong has long had a special status and unique privileges within China for the purchase of property, shares, and insurance. However, with plans to impose a national security law on Hong Kong, this has left residents worried about the future of their investments there. While Hong Kong residents have always been keen property investors with many buyers invested in properties in London, the recently proposed changes to the UK visa system made by PM Boris Johnson is very much in favour of Hong Kong residents. For more information on incredible investment opportunities in the UK, visit https://www.apiglobal.co.uk
The new path to British citizenship offered by the UK government to Hong Kong residents certainly adds to the many benefits and reasons why people already choose to buy there. Since the announcement, there has been a huge surge of interest in British National Overseas (BNO) passports that allow the holders to travel under British consular protection. Boris Johnson announced that the UK would change its immigration rules if China pushed ahead with a national security law in Hong Kong. This would allow any BNO passport holder to stay in the UK for 12 months with renewable periods after this and the opportunity to take up full British citizenship.
The current favorable currency exchange rates is another enticement. The pound continues to run historically low against the dollar, making it more cost-effective for investors right now. In contrast, the Hong Kong dollar has been performing strongly, so UK property investments make much better value for money. With extremely low interest rates, borrowing for UK mortgages is far more affordable than for Hong Kong real-estate. The proposed tax changes coming in from 2021 will also see a 2% stamp duty surcharge for foreign buyers. This has encouraged investors to complete property deals before then. Learn more about real estate investment opportunities with API Global by visiting https://www.apiglobal.co.uk
Michael Leighton, MRICS – Founder & Managing Director of API Global, said: “At API Global we believe in integrity, transparency, and sustainability through the management and development of long term relationships with our global clients.”
“API like to establish good working relationships with our buyers from day one to help find the right path for them. We can help Hong Kong buyers looking to invest in the UK property market to explore all available options to find the perfect property investment package to suit their needs.”
For more information on API Global and real estate investment opportunities by visiting https://www.apiglobal.co.uk
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