Private investment service for US expats working in the UK launched

UK private and commercial bank Arbuthnot Latham has launched a new Global Direct Service offering a discretionary investment service designed specifically for US-connected investors living in the UK.

As investing as a US citizen in the UK is often complex, due to US tax obligations following an individual, meaning many commonly used UK investment structures are unsuitable or create additional reporting difficulties. As a result, individuals are often left balancing the requirements of two countries, sometimes across multiple providers, with an increased risk of unnecessary cost and complication.

The Global Direct Service has been developed to address challenges faced by US expats in the UK and will be managed by the existing Arbuthnot Latham investment service, the company said in statement. It added that by investing in individual securities rather than pooled funds, it provides a "more straightforward, transparent" approach that is compatible with US tax and reporting requirements and avoids common issues such as passive foreign investment company exposure.

The service offers direct ownership of global equities and government bonds, with a minimum investment amount of £750,000 (or US dollar equivalent). It includes a dedicated private banker for each client.

Andrew Grimes, Director, International Private Banking: “We understand the unique challenges that US-connected individuals and families living in the UK face, who are subject to US rules which are often incompatible with UK investment structures. The Global Direct Service is a strategic addition to our discretionary service, built directly from client need, feedback, and lived experience."