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Is my daughter eligible to open a LISA when she's back to the UK?

14 February 2022

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Question by Julie

My daughter works and lives in the UAE. She is British and has a National Insurance number and will return to the UK in a couple of years. Is she eligible to open a LISA


Answered by Andrew Neligan

Hi Julie,

Unfortunately, your daughter has to be living in the UK to open a LISA. If she is ready to start investing now she could open a General Investment Account (i.e. a standard investment that doesn't have the tax advantages of ISAs) and use the accrued funds to open a LISA when she does return home.

I hope this helps.

Andrew

Answered by

Andrew Neligan

Chartered & Certified Financial Planner

Typically, I work with individuals and couples who have got to the point in their lives that they have important questions about money they want answering. They may be thinking about retirement in the next 5 to 10 years but they are worried they won’t have enough so they want to make sensible decisions now. Or, they really want to retire sooner, but either they don’t know if they can afford to, or they are afraid they will make decisions that they may later regret.