“GetGround was the ‘a-ha!’ moment for me. It removed the biggest barriers to investing in one of the world’s best and most reliable property markets: the UK.”
One person who knows the enduring value of UK property is Daniel Trindade – Wealth Manager at boutique investment firm Globaleye. We caught up with Daniel to see how GetGround fits into Globaleye’s offering to HNW investors around the world.
Tell us a bit about yourself, and the work you do at Globaleye
In a nutshell, I’m a Brazilian national working in Dubai for nine years now. Having moved into the finance industry five years ago, I now help a group of HNWI clients across the UAE, Brazil, UK, France, Australia, Portugal, and Singapore plan and execute their investment strategies.
Since joining Globaleye, I’ve been spending more time learning about tax-efficient solutions and succession planning. These are two important topics for the HNW clients we cater to.
How does Globaleye support property investors specifically?
Globaleye is uniquely positioned as one of the few companies in the UAE with both Insurance and Investment/Financial Planning licenses. This lets us use the ‘full toolbox’ when it comes to finding the best investment solution for each client.
With property investment specifically, we help clients:
- Connect with some of the best property options in the UK, and a few European countries (like Portugal and Germany)
- Complete their investment in a tax-efficient way
- Access some of the best financing deals available, through specialist brokers
- Leverage their investments to maximise gains, when requested
- Convert their money (if needed) with the best rates available
- Simplify their accounting obligations, when needed
Where does GetGround fit into your offering to clients?
GetGround plays a major role for clients that have decided to invest in the UK. It is an amazing, sleek platform that lets clients own property in the UK via a UK-based corporate structure, which can be incorporated in a matter of minutes.
This solution can bring scalable tax-efficiencies for the investment and/or future income, succession planning, and ease of control if done right. On top of that, GetGround also provides accounting services (including tax returns), and a business bank account embedded in the platform.
Talk us through your experience partnering with GetGround – what have been some of the main benefits?
As a fiduciary advisor, I’d normally only advise a solution for a client if I feel I’d use it myself. And I actually became a GetGround customer before becoming a partner!
It’s hard to summarise all the benefits in a few sentences. But, in short, GetGround simplifies an otherwise complex solution, especially for non-UK nationals that might not be acquainted with their accounting and tax obligations. GetGround was the “a-ha” moment for me, removing two of the biggest barriers to investing in one of the best and most reliable property markets in the world: the UK.
With GetGround, I didn’t need to hire an accountant anymore (the platform offers this service using technology to reduce its costs to a fraction of what I would normally pay), and I was able to use interest paid in the mortgage, together with other property-related expenses, to offset any tax due.
It is an easy, fast, straightforward and cost-effective platform for anyone who intends to have exposure to brick-and-mortar property in the UK. That’s why I’m happy to refer my clients.
Why do you think now is a great time for non-UK residents to invest in UK property?
For solid, long-term investment approaches, I normally say the best time to start is yesterday; the second-best time, today. With all proper disclaimers – as this information cannot be considered personal financial advice – all turmoil in the world and particularly in the UK has sent GBP plunging to historical lows against the US dollar. This can represent an unexpected discount for investors that earn in USD or other currencies pegged to the USD, like HKD or UAE dirhams.
Another factor that may be seen as advantageous is that, with high inflation and current base rates rising in the UK, it will probably make it more difficult for UK residents to have funds to buy a property – which could bring a favorable tide for buy-to-let property investors.
If you’re wondering whether your business could benefit from a partnership with GetGround, find out more here. Or, if you’re an existing partner looking to feature in our Partner Spotlight series, just reach out to your Partner Manager to find out more.