Hi, I'm a German citizen. From Germany I moved in the Uk with my family last year in March, to start a business. Unfortunately there were troubles in the compony, we wanted to work with, so we failled until today. I now think about declaring Bankrupt in the UK, but in your advices I read: "Criteria for declaring Bankruptcy in the UK: B. The majority of your debt was taken while living in the UK" In my case, most of the debts are originated while living in Germany. So do you think, I connot declare myselve Bankrupt under UK law? Thanks for answering Jo
One of the things that the Insolvency Service are cracking down on are 'Bankruptcy Tourists'. These are people who come from other EU countries to the UK purely to declare BR as the restrictions in the UK are easier than those in their own country. This is particularly true for German nationals as there were/are companies in Germany who help people move to the UK for 6 months purely to declare BR in the UK rather than Germany.
You have been here for a year so you fulfil the residency criteria of 6 months but you would need to prove that you came to the UK for a legitimate reason and not just to declare BR. From what you have said about starting a business this sounds like you could prove that you didn't come to the UK just for BR purposes but I would recommend speaking to Paul fro RevivaUK.
He has dealt with other people who are not UK citizens regarding whether they would qualify for BR in the UK. His details are:
Debt originated while living in Germany
Posted - 26 February 2011 : 07:41:58
