BUY UK PREMIUM BONDS IF IN SG?

[martincymru]

Question: Can you

(a) purchase bonds if UK citizen resident in Sg
(b) continue to hold if you inform them of new Sg address
(c) a non UK citizen hold bonds

The website does not provide the answers
http://www.nsandi.com/why-save-with-us

[JR8]

1) -----
'Can I buy Bonds if I live outside the UK?
In some countries. First you should check whether local regulations allow you to buy and
hold Premium Bonds, as some countries don’t allow this. You can only apply in the first instance
by post as you’ll need to send us some documents to prove your identity and address. We’ll
also need your Tax Identification Number and date and place of birth if you live in the European
Union.
For full details before you apply, visit our website. nsandi.com Or call us on SPAMMER 1253 832007.
Calls will be charged at the rate of your international phone provider.
Once you’ve done all this successfully, then probably the easiest way for you to buy more Bonds is to register for our online and phone service.
-----
http://www.nsandi.com/files/published_f ... iendly.pdf

So it doesn't seem to be a UK issue. And the question might then be, do SG ban UK citizens buying them? Not that I'm aware of, and why would they anyway? In many ways it's simply like buying UK government gilts/treasuries.

p.s. The pay-out total is 1.35%, though that is tax-free. I'd suggest they're ok for a bit of fun but not as a serious investment. About 20yrs ago I held the max allowed, £20k, and in the c3yrs I held them I think I got one prize of £10. I.e. in inflation-adjusted terms my money was going backwards, pretty fast. To me it's like a parallel to the National Lottery.

[martincymru]

Reply from NS & I today:

"Overseas residents can hold and purchase Premium Bonds if local regulations permit, though the use of the website application is not permitted as many countries prohibit the promotion of lotteries over the internet.
The only country where you may not buy/hold Premium Bonds is the USA".

I learn something new every day as an expat in Sg.

[Barnsley]

I won £25 on the Premium Bonds 3 months ago

[JR8]

For anyone who might read this topic in the future I just want to note that the maximum holding limit has been raised from £20k to £50k as of today.

[martincymru]

Note also you cannot buy new bonds online if you live overseas. LoL.