Brexit News

[Keithcaley]

Are you on a 10 day delay or something?

That's what msg1 was all about!

[Hector]

Are you on a 10 day delay or something?

That's what msg1 was all about!

Err no. Just thought that this may add some more recent information that became available for the thread.

[Trigger]

Is there some kind of work around such as using saving accounts or switching to an expat bank account?

[sophie]

I'm sure the "ambulance chasers" will be out in full force any time now, offering advice by the bucket load, provided you sign up with their particular organisation. (at a fee of course)

[Dalartokat]

Just to update regards Ex pat bank accounts closure, if you don’t want to listen from beginning it starts just after 14:50


https://www.bbc.co.uk/sounds/play/m000nkhy

[waz-24-7]

It is so disappointing that so many take the position that it is US and THEM. Winner and loser. The UK and the EU. Its like the EU will lose more than the UK and they will suffer more. So that makes us the winner. Hooray Hooray!!
That is so not the objective or of any benefit.

UK citizens are no longer European and we have unfortunately forfeited all those rights and privileges taken for granted past 2 decades.
For Ex pats in TRNC. I fear we can say goodbye to access via Larnaca. Expect higher costs of travel, more delays and queues at visa control. A general decline in service as the UK traveller is dealt with as alien as opposed to European. Access to European funding, banks , healthcare, insurances, security , licenses. these are all to be reduced or lost entirely . Yes we certainly won and the EU has lost.

The new isolationist stance will be to stay at home. Holiday at home. Grow your own vegetables. Don't speak to foreigners. Help pay for a coastal wall around Britain. Tell your children that beyond the wall lies evil and bad people. Hey then we'll all be happy ever after in our white British enclave.

Life outside the UK for ex pats will very very soon become far more difficult and costly. Just when many thought it was going to be easy and nothing would really change. I envisage a steady decline in UK people going to live abroad given our choice to leave. How important it is to read the small print !!
If the small print hasn't been printed or released then don't do it!!

[Brinsley]

waz-24-7
I'm not a Brit though very pro the EU for world 'order' as a unit and an advocate for the UK to remain; a very good summing up of the real reality yet to come!
Well done for having found at least one non-brexiter on this forum who has spoken out with sense.
It never ceases to amaze me the amount of ex-pat communities in Spain, France, TRNC etc. voted to leave, shooting themselves in the foot and wallet!

[PoshinDevon]

It is so disappointing that so may take the position that it is US and THEM. Winner and loser. The UK and the EU. Its like the EU will lose more than the UK and they will suffer more. So that makes us the winner. Hooray Hooray!!
That is so not the objective or of any benefit.
UK citizens are no longer European and we have unfortunately forfeited all those rights and privileges taken for granted past 2 decades.
For Ex pats in TRNC. I fear we can say goodbye to access via Larnaca. Expect higher costs of travel, More delays and queues at visa control. A general decline in service as the UK traveller is dealt with as alien as opposed to European. Access to European funding, banks , healthcare, insurances, security , licenses are all to be reduced or lost entirely . Yes we certainly won and the EU has lost.
The new isolationist stance will be to stay at home. Holiday at home. Grow your own vegetables. Don't speak to foreigners. Help pay for a coastal wall around Britain. Tell your children that beyond the wall lies evil and bad people. Hey then we'll all be happy ever after in our white British enclave.

Life outside the UK for ex pats will very very soon become far more difficult , costly and just when many thought it was going to be easy and nothing would really change. I envisage a steady decline in UK people going to live abroad. How important it is to read the small print !! If the small print hasn't been printed or released then don't do it!!

Lot of “ Project fear” in this post.

The acknowledgment that the U.K. has left the EU is a positive comment.

Which ever way people voted it’s really is time to stop the inevitable point scoring and long rambling comments as they are very unlikely to sway opinion. Trying to second guess how the U.K. will perform outside the EU is just that “a guess”.

Accept the result, accept that the U.K. has left the EU and look forward.

[waz-24-7]

Posh,
We have left the EU. That, for the avoidance of doubt, is clear. However,
The future is far from clear and still we have no plan or strategy or DEAL. British business needs and demands clarity. Peoples jobs, welfare and futures are at risk and your wait and see position is yet again of no help whatsoever.

I remain flabbergasted that ex pats, possibly like yourself , who have either completed their working lives OR have chosen to leave their homeland to secure a better life than that in the UK, feel that they are better by divorcing Europe. I fear these persons have had no regard to the new difficulties they will encounter whilst being "offshore" and most certainly have little understanding of the true economics of parting from your closest and biggest customer.
These same people have had very little regard for those working people who , back in the UK, are being directly hindered by the lack of planning, strategy or a DEAL that would provide them with some clarity and certainty. Let alone the threat from the Covid/Brexit pandemic.

Of course, many people on this forum have retired to Cyprus and good luck to them but be aware in the knowledge that the given privileges of being European are soon to go and the difficulties that will present in terms of freedoms, travel, finance, pensions bureaucracy; will soon become more apparent.
If anyone should want to remain European it should be those choosing to live, reside or visit offshore destinations. Possibly people like you.

[Geoff1131]

For Gods sake people like Waz-24 and Brinsley in the words of the song,,,,, Let it go Let it go!!!!!!! All this doom and gloom is not good for your mental health. I think of myself as a realist. Whatever life throws at me ( and it has hit me with some wowsers in the past ) i cope with it. If the Greeks close off Larnaca for travel after 1st January i will fly to and from Ercan. No big deal. If the EU put massive tariffs on their goods after 1st January i will buy from elsewhere again no problem. You can choose to either get on with life after Brexit or sit and moan about it for the rest of your lives. Either way i hope you are happy with your choice.

[Jonnie]

I have always kept a foot in the UK from a Banking point of view, this is and continues to be a largely unrecognised country that seemed the sensible thing to do. This change in banking will not effect me. I also think that there are many expats in other countries that may be affected by this and that some sort of accommodation will ultimately be made.

As for brexit, it is done. I was 55/45% remain but glad we have left. Now need to stop dwelling in the past and look to the future.

[PoshinDevon]

Posh,
We have left the EU. That, for the avoidance of doubt, is clear. However,
The future is far from clear and still we have no plan or strategy or DEAL. British business needs and demands clarity. Peoples jobs, welfare and futures are at risk and your wait and see position is yet again of no help whatsoever.

I remain flabbergasted that ex pats, possibly like yourself , who have either completed their working lives OR have chosen to leave their homeland to secure a better life than that in the UK, feel that they are better by divorcing Europe. I fear these persons have had no regard to the new difficulties they will encounter whilst being "offshore" and most certainly have little understanding of the true economics of parting from your closest and biggest customer.
These same people have had very little regard for those working people who , back in the UK, are being directly hindered by the lack of planning, strategy or a DEAL that would provide them with some clarity and certainty. Let alone the threat from the Covid/Brexit pandemic.

Of course, many people on this forum have retired to Cyprus and good luck to them but be aware in the knowledge that the given privileges of being European are soon to go and the difficulties that will present in terms of freedoms, travel, finance, pensions bureaucracy; will soon become more apparent.
If anyone should want to remain European it should be those choosing to live, reside or visit offshore destinations. Possibly people like you.

As I posted earlier, it’s another long rambling post with repeated project fear scenarios all the way thro. It’s all been posted before and I really don’t think it’s changing anyone’s mind. We will not agree but at least I remain positive about the future and will adapt to the changes necessary. Whatever they may be.

Let it go, as wallowing around in the doom and gloom isn’t really helping especially in these strange times.

[EnjoyingTheSun]

It is so disappointing that so many take the position that it is US and THEM. Winner and loser. The UK and the EU. Its like the EU will lose more than the UK and they will suffer more. So that makes us the winner. Hooray Hooray!!
That is so not the objective or of any benefit.

Not really, some point out that the EU will be cutting off their nose to spite their face if they try to punish us for having the temerity to leave their gang. If you expect to be rolled over and get a bad deal then you will.
What is disappointing is those who are almost gleeful in their predictions that hopefully the UK will suffer by leaving the EU.

UK citizens are no longer European

Unless we are planning to move the country to off the coast off Japan we will remain European. The rest is the usual hope you suffer for not doing what I want predictions.

The new isolationist stance will be to stay at home. Holiday at home. Grow your own vegetables. Don't speak to foreigners. Help pay for a coastal wall around Britain. Tell your children that beyond the wall lies evil and bad people. Hey then we'll all be happy ever after in our white British enclave.

It's isolationist to want to trade with the whole world and not just your immediate neighbour?
The rest is the usual dog whistle leavers are isolationist racists schtick which is easily reversed.

What is very interesting is your 'unconscious racism.' Who said our British enclave was white? To me anyone born in Britain is British which includes the children of Asians or people from Africa, China or the Caribbean.
You however look as the UK being white? So you are more comfortable that we bring in white immigrants from Europe?
You are worried that if we leave the EU we will only bring in non white immigrants?
Why don't you like non white immigration Waz?
Why do you want to give jobs to Polish men rather than black kids?
Is the attraction of the EU that it's member countries are seeing a lurch to the far right as evidenced by their elections.
Wasn't it Hitler who was one of the first people who wanted something like the EU?
Unfortunately there aren't that many fascists in the UK that are determined to stay in the EU.

Life outside the UK for ex pats will very very soon become far more difficult and costly. Just when many thought it was going to be easy and nothing would really change. I envisage a steady decline in UK people going to live abroad given our choice to leave. How important it is to read the small print !!
If the small print hasn't been printed or released then don't do it!!

Well fingers crossed that everyone's life will become a misery eh Waz? If only they did what you wanted them to!

[EnjoyingTheSun]

I'm not a Brit though very pro the EU for world 'order' as a unit and an advocate for the UK to remain;

So none of your business then?

It never ceases to amaze me the amount of ex-pat communities in Spain, France, TRNC etc. voted to leave, shooting themselves in the foot and wallet!

Maybe some voted to leave to improve their country for their children and grandchildren and not just through selfish reasons?

[EnjoyingTheSun]

I remain flabbergasted that ex pats, possibly like yourself , who have either completed their working lives OR have chosen to leave their homeland to secure a better life than that in the UK, feel that they are better by divorcing Europe. I fear these persons have had no regard to the new difficulties they will encounter whilst being "offshore" and most certainly have little understanding of the true economics of parting from your closest and biggest customer.
These same people have had very little regard for those working people who............

Let's be honest here Waz, you believe that your business will be effected by us leaving the EU. That's where it begins and ends for you so don't give us this thinking of other people BS.
As for us parting from Europe and looking to trade further afield we couldn't trade with European Aryans forever Waz it's a big world out there so be prepared to trade with non-white people no matter what your personal bias is.

[Brinsley]

So none of your business then?

I hold multiple passports one of which is an EU British Citizen passport.

[Geoff1131]

Bet you wont want one of the new Blue all British passports.

[EnjoyingTheSun]

I hold multiple passports one of which is an EU British Citizen passport.

So the golden passport holders from China and Russia are Cypriot?

[Kanonier]

So none of your business then?

I hold multiple passports one of which is an EU British Citizen passport.

All bases covered, then!

[waddo]

I have one of those EU British Citizen passports as well - about as much use as a chocolate fire guard - try crossing in the RoC with that and see what happens!

"So the golden passport holders from China and Russia are Cypriot?" - Of course they are, didn't you know - This is Cyprus! You can be any Nationality with any name if you have a Golden Passport!

I still find it funny that the RoC consider that if you are a Cypriot you are immune to Covid and can cross the borders but if you have lived here for years and never left the Island, even if you are an EU Citizen, then you carry the virus - no wonder they make it up as they go along - it makes me wonder if Boris is Cypriot really - lol.

All off topic I know as this is all about "Brexit" but as nobody really 'KNOWS" what is going to happen once the sly smiler "Gets It Done" then it is all pointless argument and points scoring from one another. Just wait and see because there is nothing you can do about it anyway.

[EnjoyingTheSun]

All off topic I know as this is all about "Brexit" but as nobody really 'KNOWS" what is going to happen

Exactly that.
Anyone who cares about Britain no matter what way they voted should always hope that it thrives. Maybe those who feel they are citizens of the world don't particularly care about any country?

I cannot understand the thinking that as the people didn't vote the way I think they should then hopefully the country will suffer and those who didn't do what they were told should suffer most of all.

[PoshinDevon]

Exactly my point.

No amount of repeating the same old mantras about the U.K. is doomed or pushing project fear will make any difference. No one knows how the U.K. will fare in the future. The addition of a pandemic into the Brexit mix is sure to muddy the water even more. However; as a U.K. citizen I would much prefer to remain positive and look forward to the future with optimism.

[Hedge-fund]

It is so disappointing that so many take the position that it is US and THEM. Winner and loser. The UK and the EU. Its like the EU will lose more than the UK and they will suffer more. So that makes us the winner. Hooray Hooray!!
That is so not the objective or of any benefit.

UK citizens are no longer European and we have unfortunately forfeited all those rights and privileges taken for granted past 2 decades.
For Ex pats in TRNC. I fear we can say goodbye to access via Larnaca. Expect higher costs of travel, more delays and queues at visa control. A general decline in service as the UK traveller is dealt with as alien as opposed to European. Access to European funding, banks , healthcare, insurances, security , licenses. these are all to be reduced or lost entirely . Yes we certainly won and the EU has lost.

The new isolationist stance will be to stay at home. Holiday at home. Grow your own vegetables. Don't speak to foreigners. Help pay for a coastal wall around Britain. Tell your children that beyond the wall lies evil and bad people. Hey then we'll all be happy ever after in our white British enclave.

Life outside the UK for ex pats will very very soon become far more difficult and costly. Just when many thought it was going to be easy and nothing would really change. I envisage a steady decline in UK people going to live abroad given our choice to leave. How important it is to read the small print !!
If the small print hasn't been printed or released then don't do it!!

Denial
Anger
Bargaining
Depression
Acceptance

Four years on and waz is finally moving to stage 2.

[waddo]

I wish you luck with your optimism but do wish you would stop repeating the mantra of “Project Fear”, it is just more of the “Fantastic” & “Brilliant” sayings such as “Get it done” and many others designed to hopefully boost people’s moral in worrying times and foster belief in the current leaders of the UK, when all the people really want is truth and leadership they can depend upon.

The day I hear an MP either apologise for or admit to making a mistake then I may start to trust in what they say once again, but until that day I remain sceptical of all governments who promise prosperity yet deliver nothing.

[PoshinDevon]

Waddo,

I make no excuse for using the term project fear. It was pushed heavily over four years ago in the lead up to the referendum and is still being pushed now. It’s easier to use these two words than list all the examples each time.

I fully accept there will be challenges ahead for the U.K. which will be compounded by this pandemic. I know it won’t be plain sailing but rather than be a pessimist I prefer to remain positive.

I have no love for politicians and disagree with much that they say and do. However; I make my choice when voting and have learnt to live with the result and there actions; whether I agree or disagree with them.

[waz-24-7]

Hmmm
A few useful comments but few are able or willing to see or even look at the picture emerging.
Yes economically I believe the UK will be worse off.
Yes and most certainly I think ex pats will be worse off.
Yes my manufacturing business will be effected but new ventures are in development trading with those far off partners hoping to sell into the UK.

That is and should be accepted as an opinion. Others are of course invited to offer alternative opinions but I hope some basis is also forthcoming.
Some are clearly and blissfully unaware, unwilling or possibly ignorant. Short one liner posts and comments illustrate this observation.

No … the blighted in sight seem fit to take an easy and derogatory line. Please stop.

Regarding getting out there. Thank you ETS. Believe me. I have and I am confident upon my efforts. To be specific. I have in past 18 months travelled the World. From the UK to Europe, Romania , Turkey, Georgia, Azerbaijan, China, Turkmenistan, Mongolia, Russia, Siberia, and onwards to Korea, Japan USA and Canada.
A great an enlightening experience whilst searching for opportunity in business trade and co operation. My view.. UK trade and business is not at all ready to get out there; compete and win. The aspiring BRIC nations are more ready, able and will capitalise on a weaker UK. Some UK sectors could benefit. BP own Azerbaijan, gas, oil, logistics and engineering...get out there. I saw No or very little UK presence. India and China are so strong now and the UK is just so far from the markets that are in need.
My view remains that an EU trade deal ( and it wont be a good one) is essential.

Posh,
Its not about changing peoples minds as you seem to think that I cling to. We are outside of Europe and are NON European.

Its now about preparing for the issues and risks that I have highlighted. Failure to prepare could cost ex pats a great deal of money and stress.
Now you may take the position that you'll wait and see and hope. Not very prudent in my view. There are few people that have identified the risks and are taking steps to mitigate. Some have taken advice, re aligned assets, applied for other EU passports or residency. That is sensible.
UK ex pats in the North should re think their visits and or travels through the South next year. A real opportunity to hit UK supporters of the TRNC will be high on the radar. Unfortunately access to the TRNC to UK non Europeans can now only be via Turkey and that's a nightmare for many. Let alone the additional costs that the airlines will capitalise upon as other routes become too risky.

Next year will be the New dawn upon alien status for we UK citizens. Wake up smell the coffee and get on with it...please.

[waddo]

OK Was, I ask your advice. I did not vote to leave, I did not think it was a good plan as the only plan was to leave, the same as jumping over the cliff before you found out how high up you were. I could not see how a country that was already in debt, had MEP's that only wanted to get the UK out of the EU and had no plan for what came after and used the people to further their own political futures. I may well be wrong and I accept that easily, but as the human race is a gregarious bunch of people who will band together for safety and security, why would you want to leave such a band and attempt to go it alone - a big risk in my opinion.

However, just what can the "little people" who, like myself have moved out of the UK for a more safe, secure and better life now do when they have little income or/and savings? The UK banking is not going to offer the support it currently does under EU regulations just for a start, the chance of now "Easily" visiting freely other EU nations has been given up, I can not see the GBP suddenly becoming more valuable than when the UK was in the EU, so as other currencies recover and the GBP shrinks in value what then? OK if you have a large pot of gold to play with but for most it will be the start of stretching out to meet ever increasing prices! All the "Plans" made prior to retirement have now changed to meet "Survival". Not our fault as you can only plan for the future with what you have once income has become fixed and you are now too old to work anymore.

Having been outside the UK for 13 years and watched how the country has gone towards being a "Handout" society for the majority, I suppose a return to the UK would seem to be the easy route out - it is not a choice for us to go back. A great many people see ExPats as the rich and happy, who idle their way into the box, but there are many ExPats who left in order to stretch out their incomes and be self supporting in a better climate. We can only look on the situation and sorry to say it but - what is left for people who can do little else but "Wait and see and hope"?

What else can we do at the end of life?

As for the UK as a whole I think a big shock is coming and there will be many sad and bad months to follow and this is not being pessimistic at all - with the Government behind them (never in front) the people chose to leave the EU and take on the World, let us now see what the Government, leading from behind can do!!!

[waz-24-7]

Waddo,
Many ex pats have departed UK shores for a better life. Perhaps escaping the "rat race" , a level of discontent with the administration, a wish to secure a more laid back and cheaper way of life. European destinations. primarily France , and Spain but lesser knowns such as Cyprus are popular.
The TRNC attracts those that seek sunnier climes, a cheaper way of life and a property market that is cheaper than many.
How much is costs and what hoops need to be jumped through is often poorly researched and pensions, nest eggs and living costs can easily be overlooked.
Realistically the administration is driven by Turkey and foreigners are deemed small fry in the scheme of Turkeys aspirations and their clear will to protect their own back yard.
Current exchange rates are very good based on the weakness of the Turkish administration and economy. 10 years ago we were at 2.4 tl/£
This will not last and preparation is needed for a reversal sometime in 2022 is my guess. The tl is not a good investment currency and many have historical tl in savings accounts at 10%. This is fine for local spending but of little use outside of the Turkish economic zone.
The TRNC economy is weak. Supported by gambling, tourism, universities and very little else. Turkish money drives the fragile economy. How long will this continue is the question. Without support the TRNC would be strangled it would simply not be able to function. This is a risk if you are a TRNC investor.
TRNC banks are massively exposed. The construction of apartments continues and the banks exposure to default from borrowers is very worthy of note. HSBC have left the North. Why? The risk of loss is too great.
If construction projects fail the banks cannot recover cash Exposure in TRNC banks continues to be a risk in my opinion.
As Ex pats in Cyprus lose their European rights their privileges and protections are lost. Security via EU law will no longer protect savings and investments both in North and South Cyprus.
South Cypriot businesses that are in part EU governed seek out aliens and others to make profit. Russian money in Cyprus is very attractive partly because theirs an lot of it. UK money is now alien money and scams and falsifications are now a lot easier. Who can non European turn too in litigation. Cypriot courts of course. Their vey fair always. Not.

Essentially therefore my advice:
Invest or keep your money outside of Cyprus. Keep local money at levels you need to live on and are prepared to lose. UK interest rates may well go negative soon. so savings accounts are no go. Pensions will be attacked as the massive COVID and Brexit debt mounts up. Income tax will rise also as the UK faces largest deficit since the 40's. Investment of savings is risk but its easier than it has ever been. With some basic intelligent thinking and strategy ..help is abundant. Good returns can be secured.
.

[waddo]

Waz, thank you indeed. It seems that the 7 years of preparation, investigation and planning we did prior to retirement out here in the TRNC was exactly right, well up until the TL went to 2.3 just after arrival and our sound plans of new pensions maturing and becoming available all came just a bit to late! But we weathered that storm, even if recovery took us the next 10 years it was well worth it. We did not buy property because we did not wish to reduce the amount of land that was Turkish title, instead we leased for 50 years, neither of us will be around in 2057 and the land will revert back to TC ownership. We looked at it as 50 years of rent paid up front and it worked just fine. We are here to stay - quite literally as our burial plots are booked in Dhekelia Military Cemetery and already paid for. UK leaving the EU will not effect us in the end - lol.
We have never trusted local banks and any savings we have at last managed to accrue remain in a UK bank with almost zero interest but at least it may be safe there. Not enough to invest so that is not an option but at this time we are “comfortable” and for the first time in many years - debt free.
Our worry is the pension attack but as all of our pensions are Government pensions we do feel more secure, we will always be paying income tax, no way around that, so preparing to take a hit on that front and I think that is about it for us.

The one thing you can take to the bank is that nobody knows what tomorrow will bring and that nobody can really plan with 100% accuracy. But it nice to see you trying to educate and help others regardless of criticism, not saying I agree with your every word on every subject but don’t stop doing what you do. Many thanks again.

[Hedge-fund]

Coming from waz.......the only poster who said buy lira at 4.80.

[waz-24-7]

Thanks
Did I say that?
possibly at that time I guess couple years ago things were quite different then to now. The 2004 boom had passed and stability was returning.
currently:
Many will have savings accounts in tl. giving interest rates of 8-15%. Be aware right now savings money is being lent to others at circa 22-28%.
mainly funding a new boom in construction. In my view a bubble about to burst. With volatility in the tl and inflation gathering pace. A movement towards trading in other currencies is leading to a real risk of default upon tl loans.

I expect many rely on periodic maturity of tl savings to secure some day to day spending. That's good right now but I certainly wouldn't put any more tl away right now. The banks will not enlighten you on their inward workings but rest assured funds are being loaned out to a fragile economy held up by high interest credit. Commercial loans are likely secured against empty, part finished or vacant buildings. Assets that cannot be liquidated quickly or easily.
With tl right now. Buyer beware.

[Hedge-fund]

Thanks
Did I say that?
possibly at that time I guess couple years ago things were quite different then to now. The 2004 boom had passed and stability was returning.
currently:
Many will have savings accounts in tl. giving interest rates of 8-15%. Be aware right now savings money is being lent to others at circa 22-28%.
mainly funding a new boom in construction. In my view a bubble about to burst. With volatility in the tl and inflation gathering pace. A movement towards trading in other currencies is leading to a real risk of default upon tl loans.

I expect many rely on periodic maturity of tl savings to secure some day to day spending. That's good right now but I certainly wouldn't put any more tl away right now. The banks will not enlighten you on their inward workings but rest assured funds are being loaned out to a fragile economy held up by high interest credit. Commercial loans are likely secured against empty, part finished or vacant buildings. Assets that cannot be liquidated quickly or easily.
With tl right now. Buyer beware.

Waz you used to just read the bbc and take it as gospel a few years back.

You've widened your sources and some of what you read now makes some sense.

Good luck on your journey of discovery.

The banks here are like Christmas Clubs. And if yours goes bust - and some will - you can forget central bank compensation.

[sophie]

Not sure what to do with $ and in any case I've probably left it too late! If the Loony Tunes gets back in the $ will probably fall like a stone, but as I can't really understand American politics, I just stuck my head in the sand!!!