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  #21  
Old 10.10.2015, 13:23
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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Paying a GBP bill with a GBP account in CH won't be cheap, waiting for a complaint thread soon
You surely have much free time
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  #22  
Old 10.10.2015, 16:40
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

Hi,

there are charges for all cards http://www.money.co.uk/prepaid-cards.htm However, the only charge with entropay is when you add additional money to the card, which I do infrequently. I use it to pay for Now TV.

Have fun

Martin
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  #23  
Old 10.10.2015, 16:41
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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...The Revolut card can be loaded from your CS account in GBP and you can then pay for whatever expenses you have in the UK with it...
Just wanted to second Revolut - I really like them and they should fulfil your needs

I wonder how much you'd pay for a GBP transfer from Switzerland to the UK though. Hope that's not a dealbreaker?

By the way: Using a friend's address in London I managed to open an account with Lloyds. Ever since I have a UK current account and "normal" UK debit card. If you want to wire transfer and/or receive funds that might be the better option? I described how I managed to open the account (in German) >>here<<.

Good luck in any case!
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  #24  
Old 10.10.2015, 17:56
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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Hi,

there are charges for all cards http://www.money.co.uk/prepaid-cards.htm However, the only charge with entropay is when you add additional money to the card, which I do infrequently. I use it to pay for Now TV.

Have fun

Martin
The problem with all these cards is that you must be a resident in the UK to obtain them. For example, I managed to get the Pockit card, but without a proof of residence I am subject to a quite strict yearly limit.
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Old 10.10.2015, 17:59
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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You surely have much free time
Clearly I am filthy rich so don't need to work
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  #26  
Old 10.10.2015, 18:05
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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Just wanted to second Revolut - I really like them and they should fulfil your needs

I wonder how much you'd pay for a GBP transfer from Switzerland to the UK though. Hope that's not a dealbreaker?

By the way: Using a friend's address in London I managed to open an account with Lloyds. Ever since I have a UK current account and "normal" UK debit card. If you want to wire transfer and/or receive funds that might be the better option? I described how I managed to open the account (in German) >>here<<.

Good luck in any case!
Many thanks! I have just applied for Revolut

A transfer from Switzerland to the UK should be only CHF 2 with my bank, which seems fair deal.

I also like your idea of using someone else's address to open a local account (and your related German post), but I do not think it is applicable to my case
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  #27  
Old 10.10.2015, 18:12
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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Just wanted to second Revolut - I really like them and they should fulfil your needs

I wonder how much you'd pay for a GBP transfer from Switzerland to the UK though. Hope that's not a dealbreaker?

By the way: Using a friend's address in London I managed to open an account with Lloyds. Ever since I have a UK current account and "normal" UK debit card. If you want to wire transfer and/or receive funds that might be the better option? I described how I managed to open the account (in German) >>here<<.

Good luck in any case!
Your taking quite a risk getting a UK driving license as your declaring you have lived in the UK for over 6 months, this means you are confirming without doubt that you are UK tax resident.
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Old 11.10.2015, 12:35
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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Your taking quite a risk getting a UK driving license as your declaring you have lived in the UK for over 6 months, this means you are confirming without doubt that you are UK tax resident.
The driving license was one of many ideas to "prove" residency.

As an EU citizen you are "resident" from the second you arrive to any place in the EU, there is no 6 months limits to obtaining a driving license. Yes, you should "intend" to stay, but this intention can change the next day.

I never had to go as far. Lloyds accepted their own letter in my name to my friend's address as proof of address. Officially they shouldn't have done that, but they still did. The whole "proof of address" concept is not exactly waterproof. If you play around enough I think everyone will manage to open a UK account.

I still wonder if it's possible to manage to use www.boatmail.co.uk and/or change the address to a non-UK address. Currently my account is up and running without complications, so I intend to not wake sleeping dogs.
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  #29  
Old 11.10.2015, 12:45
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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The driving license was one of many ideas to "prove" residency.

As an EU citizen you are "resident" from the second you arrive to any place in the EU, there is no 6 months limits to obtaining a driving license. Yes, you should "intend" to stay, but this intention can change the next day.
If you arrive with a return ticket, hand luggage & without resigning from your job, no court would ever believe you ever 'intended' to stay at all. You would clearly have been a tourist.

The UK driving license has a declaration that you have lived in the UK for more than 183 days, the same for the Maltese one. (probably the same wording on all EU) It's a criminal offence of make a false declaration.

For anyone who has UK Domicile, making such a foolish declaration could have hugely expensive tax consequences.
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Old 11.10.2015, 12:49
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

The UK government isn't that joined up when it comes to data sharing. You can happily lie to one department safe in the knowledge no other department will ever find out.
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  #31  
Old 11.10.2015, 12:56
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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The UK government isn't that joined up when it comes to data sharing. You can happily lie to one department safe in the knowledge no other department will ever find out.
Not entirely correct, if they ever launch an investigation then thew will check every avenue. Investigations can run for many years, (10+).

The HMRC have increased the amount of data they collect, especially as tax returns will become a thing of the past....... They already hold all the data they need for most tax payers.
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  #32  
Old 11.10.2015, 13:15
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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Not entirely correct, if they ever launch an investigation then thew will check every avenue. Investigations can run for many years, (10+).

The HMRC have increased the amount of data they collect, especially as tax returns will become a thing of the past....... They already hold all the data they need for most tax payers.
But who cares. You simply say you're not tax resident and that you ticked a form on the driving licence application without thinking. The issue is then with DVLC who are unlikely to do anything about it.
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  #33  
Old 11.10.2015, 13:27
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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But who cares. You simply say you're not tax resident and that you ticked a form on the driving licence application without thinking. The issue is then with DVLC who are unlikely to do anything about it.
It's more complicated than that, your not eligible to apply for a license in a country you don't live in, it's a fraudulent driving license application.

Chrisneedstoknow is trying to prove residence when it does not exist, it's a very slippery slope.

I am sure there are plenty of laws being broken here.
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  #34  
Old 13.10.2015, 10:17
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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Clearly I am filthy rich so don't need to work
I don't 'need' to work either, but I would never define myself as 'filthy rich'! Just how rich is that? How much does one need to have/earn/receive as an income?!
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Old 13.10.2015, 10:37
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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I don't 'need' to work either, but I would never define myself as 'filthy rich'! Just how rich is that? How much does one need to have/earn/receive as an income?!
You don't need to be that rich, you just need to be filthy
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Old 13.10.2015, 10:41
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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By the way: Using a friend's address in London I managed to open an account with Lloyds. Ever since I have a UK current account and "normal" UK debit card. If you want to wire transfer and/or receive funds that might be the better option? I described how I managed to open the account (in German) >>here<<.
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Your taking quite a risk getting a UK driving license as your declaring you have lived in the UK for over 6 months, this means you are confirming without doubt that you are UK tax resident.
As much as I like your ideas Chris, I have to side with Fatman on this, I would not mess around with getting official UK documents that are supposed to only be issued for "residents" when you are not a resident and never intend to be a resident.

It's not that you won't get away with it, which you clearly did, but the fact that you are just opening yourself for future issues that you probably would rather not deal with.

Besides nobody needs to do all this now there is Revolut!
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  #37  
Old 13.10.2015, 10:58
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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How much does one need to have/earn/receive as an income?!
My stock market returns on average have exceeded 15% for many years.

I am asked why I keep recommending www.fundsmith.eu return since inception in £ is 15.7%, in Euros is 21.8%

15% return on 150,000 capital is 22,500. 22,500 exceeds average earnings in Malta. Many people will have 150,000 in a Pillar II, so surprisingly little if you can accept market fluctuations.
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  #38  
Old 13.10.2015, 11:01
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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...getting official UK documents that are supposed to only be issued for "residents"...
I never did this. It was only floated as an idea which I never followed through with.

I did manage to open the Lloyds account by applying for it online. They sent a letter to the address I gave. I took this letter back to Lloyds, and they accepted their own letter to me as "proof of residency". I guess they shouldn't have, but they did.

Ever since I declare this account in my Swiss tax declaraion. Never had any problems.

Now that Revolut is around, I agree, wouldn't really need the account anymore.
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Old 13.10.2015, 11:07
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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I am asked why I keep recommending www.fundsmith.eu return since inception in £ is 15.7%, in Euros is 21.8%
That's ludicrous man!

£100 = EUR134

a return of £15.7 is 15.7% in £

£15.7 = EUR21.038

EUR21.038 / EUR134 = 15.7%



With regards to fundsmith, it sounds interesting but I haven't really looked into it with much detail. Maddoff also had a fund that returned 7% or more for a long time before it went tits up.

Just because you made some nice returns it doesn't mean everyone should do what you did.
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Old 13.10.2015, 12:03
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Re: Credit/Debit Card in GBP given Swiss Residence + Bank Account

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That's ludicrous man!

£100 = EUR134

a return of £15.7 is 15.7% in £

£15.7 = EUR21.038

EUR21.038 / EUR134 = 15.7%



With regards to fundsmith, it sounds interesting but I haven't really looked into it with much detail. Maddoff also had a fund that returned 7% or more for a long time before it went tits up.

Just because you made some nice returns it doesn't mean everyone should do what you did.
Over the last 5 years the Euro has weakened V £ so clearly the return in Euros will be higher

40 year compound return of the class of assets Fundsmith invests in exceeds 15% it's nothing very complicated. 'Buy toothpaste manufactures as only 40% of the worlds population brushes their teeth' Loads of potential for growth & high profits make for 2 sell for 5. During a recession people still brush their teeth.

Here is a 30 year comparison, this is why I prefer stocks over property. I suspect maintenance / refurbishment costs over 30 years are not accounted for. Starting in 1985 so the major crash in 1987 is included.
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