SS&C Hubwise position on nationality, citizenship, tax residency and country of residence.

This page summarises the SS&C Hubwise position on nationality, citizenship, tax residency and country of residence. 

Country of Residence

Generally, the SS&C Hubwise platform is for UK residents only. We will not accept any new non-UK resident investors – a new client must be resident in the UK to be onboarded to the platform.

However, if an existing UK resident on the platform moves abroad, they can retain their account on the platform with certain restrictions (noted below). 

The exception to this is where the client moves to a high-risk jurisdiction, as listed on Gov.uk, or the USA. In this case, the account will be closed and the client transferred off the platform. 

The restrictions for these accounts are:

• No new monies can be added to the platform (except to cover fees). This will include all transfers such as, transfers-in, product transfers and asset transfers which will not be allowed.
• No new products can be opened (for example, if a client has a GIA only, they cannot then open an ISA after they have moved overseas).

The account will continue to rebalance. The client can sell down and withdraw monies (including drawdown). Internal transfers between existing products already on the platform will be allowed.

If a client moves abroad, the portal must be updated immediately as per the attached: https://knowledgebase.hubwise.co.uk/helpdesk/attachments/76098100675

Citizenship

We will not accept any US citizens on the platform, whether new or existing account holders. Any US citizens on the platform are required to transfer off. 

Nationality

Generally, SS&C Hubwise will accept any nationalities as long as the country of residency criteria above is adhered to. Investors with High Risk Country Nationalities will be subject to EDD.

Tax Residency

Generally, SS&C Hubwise will accept any tax residences as long as the country of residency criteria above is adhered to. 

Note, for any clients who have a non-UK tax residency (whether in addition to UK tax residency or standalone), this data must be entered into the portal to allow SS&C Hubwise to complete Automatic Exchange of Information (AEOI) reporting.