This is necessary. British real estate developers admit that in Britain, all licensed lawyers must ensure that their clients do not buy or buy British real estate through illegal money laundering activities, so they must "know their clients", ensure the legal status of private buyers, and review their articles of association and operating conditions. Private buyers also need to show a bank statement with a residential address.
2. Do I need a British bank account to buy a property in the UK?
If you buy real estate in cash, you don't need it. Only when buying a house with a mortgage loan, the buyer needs to have a British bank account.
3. Is there an annual real estate tax in Britain?
Unlike some countries, England does not levy an annual tax on real estate. However, both the owner and lessee of the house have to pay the municipal property tax to the local government, mainly including the expenses of police and street cleaning. Each administrative region decides the specific amount of this tax according to its own situation, which can range from 600 to 2,500 pounds per year.
4. What is the cost of water, electricity and gas after buying a house in London?
Obviously, this is related to the number of people living in the property and the habit of using these resources every day. The following is the daily consumption of a typical three-bedroom family of four:
Natural gas 30-60 lbs/month
Electricity bill is 30-60 pounds/month.
Water 200-400 lbs/year
Property insurance is 30 (or above) per month.
Internet (ADSL) 12/ month
Telephone 12/ month
Basic+Call Fee TV License (Compulsory) 130/ year
Satellite/Cable TV 15 GBP/month, package service and municipal property tax (varies from place to place).
5. Can non-British people buy British real estate?
Of course. The British government has no requirements on the identity of residents or citizens, and there are no special regulations on visas for overseas property sales.
6. Can I buy, sell or lease British property in China?
Of course. 99% of British real estate sales usually require lawyers to handle the handover and related procedures. You can choose to entrust a lawyer in China, or you can personally go to the UK to entrust a lawyer to handle business procedures. As for leasing, tenants can choose their own licensed intermediaries to lease and manage the property.
7. Can I immigrate to the UK if I buy a British property?
At present, the immigration application procedure in Britain is completed through the points system.
The British Immigration Service will not issue visas or approve naturalized immigrants just because non-British people buy real estate in the UK. However, in the visa/immigration application form, the applicant should provide his residence information to the immigration bureau, including whether he has purchased real estate or not.
Buying British real estate helps to prove to the Immigration Bureau the applicant's willingness to live in Britain, economic strength, and the necessity of applying to the British government for government relief housing after immigration, thus helping to approve visas, permanent residence and naturalization. If an individual buys a British property and rents it, the rental income can be used as personal income to get the score applied by the immigration scoring system.