Updating post from Reddit.

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QUESTION
Posted by 320aerosexual 2 weeks ago
Bank account for overseas landlord

Hello,

I will soon be moving to the UAE on a working visa for at least the next 3 years. I have decided to rent out my property whilst away and have a few questions. My UK bank account is with Monzo and will be recieving the payments from the estate agent.

  • Can I change my registered address to my parents house for things like bank accounts, landlord insurance ,driving license whilst away?

  • Do I need to notify Monzo that I will not be in the UK?

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    Posted by Green_Teaist 2 weeks ago

    Yes change the address and you don't have to tell Monzo if your address is in the UK. Register with HMRC as a non resident landlord once you have a tenant.

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    Posted by 320aerosexual 2 weeks ago

    Thanks!

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    Posted by Ok_Connection_3234 2 weeks ago

    Also consider applying to receive your rental income gross otherwise there will be withholding tax by the tenant or agent.

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    Posted by Professional-Exit007 2 weeks ago

    Open an HSBC (Advance) account. It'll make opening an account in the UAE much easier.

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    Posted by 320aerosexual 2 weeks ago

    Good idea

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    Posted by Accomplished-Act7821 2 weeks ago

    If your only going for 3 years, rather than changing all your addresses individually, you can just put a post office address redirect. Each time it lasts for a year and you can do it for 4 years I think.

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