One In Three Expats Ready To Hand Back UK Passports

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One in three British expats living in Ireland are ready to hand back their UK passports to take up citizenship elsewhere.

They blame the ongoing uncertainty of Brexit for their decision, according to a new poll.

And another 10% are thinking about cutting their ties with the UK if a no-deal Brexit goes ahead on or before October 31, says the research for foreign exchange broker CurrencyFair.

The firm says the data suggests the reasons to remain EU citizens for expats appear to come from how citizenship rights could be at risk before or after the Brexit deadline depending on the decisions of who takes over as prime minister.

British expats are also concerned about their finances.

Seeking clarity

More than half (54%) expect a UK economic downturn to follow a no-deal Brexit, and 42% of expats admit they have not made financial plans if a no-deal departure takes place.

Just 17% have saved more cash – while one in five are planning to transfer their cash out of Britain in the event of a no-deal Brexit.

“Like almost everyone with an eye on Brexit, the British expats surveyed are looking for clarity,” said a CurrencyFair spokesman.

“They want clarity on their ability to manage risks associated with Brexit, answers to questions about their financial stability, and a clear understanding about their future ability to live and work in the UK. Until Theresa May’s successor is named and definitive decisions are made, such clarity isn’t likely.”

What expats plan to deal for a no-deal Brexit

What expats plan to deal for a no-deal Brexit

Source: CurrencyFair

Brexit worries for expats

Brexit worries for expats

Source: CurrencyFair

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