I'm from the UK and I work in China and keep the money I earn in a Chinese bank account in CNY...

I'm from the UK and I work in China and keep the money I earn in a Chinese bank account in CNY. I was planning on transferring some of this money back to my pound Sterling bank account in the UK. Would it be a good idea to hold onto all my money in China for the foreseeable future and speculate on the pound crashing if the UK does go for a hard brexit? Would that put me in a better financial situation for say, acquiring property in the UK in the future? I'm an absolute brainlet when it comes to this stuff, so thanks for any help you can provide.

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>working in a foreign country for foreign currency and wanting to bet against gbp
Traitor

I thought everyone on this board was a cut throat wolf of wall street?

Get back you fucking Jow Forumsnigger. This board is for financial discussions.

It is, don't let this faggot make you believe otherwise. I think keeping your money in CNY atm is the best you can do. Europe is going into a recession, and fast. Good on you that you're in a good position

>muh fuckin GOD SAVE THE QUEEN
All bongs should be killed

If you move back to the UK make sure you inform HMRC (it pains me to say this) BUT not informing them of foreign accounts the fines can quickly add up to more than what is in the foreign account!

Why not move the funds to Singapore or HK? I wouldn't trust the chinks or the banks here

Also Cambodia offer 10% interest on dollar deposits! its obviously risky or the rate wouldn't be so high...maybe for a portion of your funds?

the UK's a failure of a country and a police state in the making.

t. fellow britbong

It's not sure if the price of brexit is already priced in, however hedging against GBP isn't really a bad idea, I highly doubt it is ever going to get up in the next few years unless they stop with the brexit shit and act drastically to save the situation in some unprecedented way for the British government.
However given the Chinese situation I wouldn't really recommend you to hedge on that asset, it doesn't seem to be a strong currency and China is going trough one of the biggest bubbles ever, with the Chinese economy slowing down your Chinese dosh may turn to much less than what you might like.
It's funny to think about it since you are talking in a Crypto centric board, but BTC might unironically be the best place to put your money in as long as you are thinking in terms of at least one year ahead
Just put your money in btc on a paper or a ledger/trezor wallet and wait, it's also indipendent from any government or bank which removes the worries of big China taking all you money with it in some "fuck foreigners" possible scenario

This

solid advice

Brites are shites

If I'm domiciled in China for tax purposes while I'm earning this money, if I return to the UK and declare my foreign account to HMRC will they take money off me? Also can I just walk go on over to HK and open, for example, an HSBC account and store all my money there (I'm living in a city reasonably close to HK)?

Agreed, but this doesn't stop London being the world leader in financial services, brexit or no brexit. You'd be mad to short the uk longer term.

Based and redpilled

So what do you suggest then you little faggot? I just asked for advice and you said nothing constructive in your first post. What about just sending it all back to the UK for projects I can use it for there? My plan isn't to stay in China forever, I just want to maximise my capital in a short term scenario.

yeah, I can see the UK's offshore empire coming a bit closer to home after Brexit.

never keep your money in fiat retards, buy btc

>if I return to the UK and declare my foreign account to HMRC will they take money off me?
No, when you become a tax resident back in the UK you must tell HMRC of your foreign account. if you tell them they will not take your funds...BUT if you don't tell them & they find out the fines are STIFF, like 1.5 times the amount in the account per annum! Its been a while but have look for the fines, it was crazy.
>can I just walk go on over to HK and open, for example, an HSBC account
You can, but that doesn't mean you can open one...It depends on a myriad of factors...amount to fund the account is one of them.

Best of luck user!

cny will devaluate in the next years

How is shorting the pound "traitor"? Even wanting all out collapse of the UK at this point isn't

Fucking retard zog boot lickers. Imagine giving a fuck about some kike's fiat pension

>I don’t trust the chinks
>suggests moving money from one chink country to another

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You must be a Mutt. They are different chinks!
HK is MUCH easier to move money internationally!
You do know HK uses the English system thanks to the opium wars.

>t. HK chink
By your logic Indians are English

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kek

>work in a foreign country
>keep money earned in foreign country's bank

Kill yourself.

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