I want to open a Junior ISA or equivalent for my daughter but we are not resident in the UK

07 January 2022

Question by Fran

I want to open a Junior ISA or equivalent for my daughter but we are not resident in the UK. What options do I have please?


Answered by Boring Money

Hi Fran,

Unfortunately, you are unable to open a JISA for your daughter if you are not resident. Your best bet might be to open an investment in your name and earmark it for her for when she is ready for the money or if you return to the UK. There may be tax consequences for you of this approach but your tax-efficient options as far as the UK is concerned are unavailable.

I hope this helps.

Andrew

Answered by

Boring Money