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London

Page history last edited by PBworks 12 years, 2 months ago

London

 

  • center for Currency trading (FX trading)

 

London is one of the world’s most important cities and is a clear leader in the new economy.

 

An established World, European and UK headquarters location, London’s key sectors include banking, insurance and financial services, pharmaceuticals/healthcare/biotechnology, research & development, sales and marketing, print and publishing and perhaps most importantly high technology.

 

London is Europe's most successful city at attracting foreign companies thanks to its many locational advantages such as being the largest global hub for international air travel (nine out of 10 of the busiest air routes between Europe and the US are to and from London). Other key features are unrivalled access to financial markets, an international workforce and world-leading academic institutions.

 

A thriving cluster of new economy firms (across a range of sectors such as software and services, electronics, e-commerce and telecommunications) have turned London into a global leader in the internet age.

 

 

Former City of London Chief Says Non-Dom Tax May Prompt Exodus

By Mark Deen

Feb. 12,2008 

 

There is a new plan to tax non-domiciled foreigners living in the U.K. , whcih threatens to drive away business from the capital's financial district, a former chief of the City of London said.

 

Starting in April, the Treasury intends to levy an annual charge of 30,000 pounds ($58,494) on non-domiciled foreigners who have lived in the U.K. for more than seven years or require them to declare their worldwide income to tax authorities. Currently, people not domiciled in Britain avoid tax on income earned abroad, a benefit unavailable anywhere else in the Group of Seven industrial nations.

 

The plan has drawn protest from accountants and business lobbies in recent weeks on concern it will lead to an exodus of wealth-creating foreigners from London's financial industry, which provides 19 billion pounds in annual export earnings and more than 1 million jobs.

 

``Dubai, Hong Kong, Singapore -- these are all markets that will be happy'' to welcome investors, Savory said. ``We are seeing a shift in asset management to Switzerland, Monaco and the Far East.''

 

 

 

Investment Promotion Agency:

 

Mr Andrew Cooke

London First

1 Hobhouse Court

Suffolk Street

London

-

SW1Y 4HH

UK

 

tel: +44 (0) 20 7925 2000

fax: +44 (0) 20 7925 2022

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