Moving money out of the UK

[hayekvindicated]

With the British Government endeavouring to pump £500 bn into the British banking system (money that it does not have - in an economy one fifth the size of America), it seems to me that it is a matter of time before the British Government imposes exchange controls.

I would like to move my money out of the UK and into an offshore bank in either Japanese Yen or Swiss Francs. However, not sure which banks and which jurisdictions offer the greatest protection. Any ideas?

[metalman]

Re: Moving money out of the UK

With the British Government endeavouring to pump £500 bn into the British banking system (money that it does not have - in an economy one fifth the size of America), it seems to me that it is a matter of time before the British Government imposes exchange controls.

I would like to move my money out of the UK and into an offshore bank in either Japanese Yen or Swiss Francs. However, not sure which banks and which jurisdictions offer the greatest protection. Any ideas?

we have the same concerns here in the usa and have talked about it here... US exchange rate and capital controls or bust? and here What to do about possible capital controls?

[touchring]

Re: Moving money out of the UK

With the British Government endeavouring to pump £500 bn into the British banking system (money that it does not have - in an economy one fifth the size of America), it seems to me that it is a matter of time before the British Government imposes exchange controls.

I would like to move my money out of the UK and into an offshore bank in either Japanese Yen or Swiss Francs. However, not sure which banks and which jurisdictions offer the greatest protection. Any ideas?

What has pumping money got to do with exchange controls? Can anyone please help explain? Thanks.

[GRG55]

Re: Moving money out of the UK

With the British Government endeavouring to pump £500 bn into the British banking system (money that it does not have - in an economy one fifth the size of America), it seems to me that it is a matter of time before the British Government imposes exchange controls.

I would like to move my money out of the UK and into an offshore bank in either Japanese Yen or Swiss Francs. However, not sure which banks and which jurisdictions offer the greatest protection. Any ideas?

If you live and work in the UK you may want to check out the Channel Islands. They have advantages over the Caribbean, especially for those in Europe and the Middle East.

[hayekvindicated]

Re: Moving money out of the UK

If you live and work in the UK you may want to check out the Channel Islands. They have advantages over the Caribbean, especially for those in Europe and the Middle East.

Thanks. I have thought about that option and did actually discuss this with my manager at HSBC. However, Jersey and Guernsey both are technically subject to the jurisdiction of the UK Government. The question would be, therefore, what are the odds of the UK Government including Jersey and Guernsey in its exchange control regime? Perhaps someone with better knowledge of 1970s history than me may be able to pitch in with some ideas here.