In a tax-efficient manner, Novia Global ISA gives you access to various investment options, such as stocks, shares, funds, and bonds.
If you are looking to invest as an expat or high-net-worth individual, which is what I specialize in, you can email me (advice@adamfayed.com) or use WhatsApp (+44-7393-450-837).
The ISA is a new offering from the Novia platform, which we will explore in this Novia Global ISA review.
Table of Contents
Novia Global Background
Novia Global is an international investment platform that kicked off in 2015. Advisors, private banks, trust organizations, and clients have access to different financial services through the Novia platform.
Related content: Novia Global Review – Do Better Options Exist?
Novia Global ISA Review
Novia rolled out a Stocks and Shares ISA to deal with expat money in so-called suspended animation, according to UK magazine Money Marketing. This situation is characterized by UK expats being unable to contribute more money into their ISA. They may be required to pay taxes on any profits or earnings as well.
What’s a stocks and shares ISA?
Residents in the UK can open a tax-efficient investing account called a Stocks and Shares ISA (Individual Savings Account). Many other kinds of financial assets are available to individuals through this platform.
How does a stocks and shares ISA work?
ISA capital gains and dividends are usually tax-free. This can boost long-term investment results.
A stocks and shares ISA gives clients many investing options based on their financial goals, risk tolerance, and preferences.
An annual ISA allowance limits ISA investments for each tax year. For 2023/2024, the ISA allowance is £20,000.
Related content:
How do you transfer stocks and shares internationally as an expat after you leave your home country?
Individual Savings Accounts: What Happens to Them if You Move Abroad?
Novia Stocks and Shares ISA Account Features
If you are a British expat living abroad who has accrued ISA advantages as a UK resident and who plans to return to the UK or could return in the future, you can keep your ISA funds with Novia Global Stocks and Shares ISA.
The new Novia ISA will allow expats to transfer their existing Isas.
By facilitating the management of ISAs with other assets, the solution aims to fill a substantial need in the market for services provided to expats who work or move abroad.
Note that only UK residents can open or fund an ISA.
Novia Global ISA charges
Your financial advisor may earn a flat fee of 2% per annum in addition to an upfront fee of 5% of your investment. When assets are kept in the Novia Global ISA for stocks and shares, there is no service charge.
Pros and cons of Novia Global ISA account
Benefits of Novia ISA
- The structure of stocks and shares ISAs is tax-advantaged.
- The Individual Savings Account (ISA) is designed to give clear and efficient investing choices and has a cash facility.
- Advisors and investors alike can benefit greatly from the platform’s ability to facilitate a unified strategy for guidance and management.
Risks of Novia ISA
- The ISA is mainly designed for transferring current ISAs; it does not let expats establish new ISAs.
- For the administration of the account and the provision of investment services, Novia levies management fees or platform fees.
- Stocks and shares are not like savings accounts. Deposits in an ISA are not insured by the Financial Services Compensation Scheme or any other similar program.
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