Expat Australia News
Latest 10 news items tagged Australia
7 Mar at 6 PM 2014
After a two and a half year battle in the Spanish courts to save their homes, a group of expats in Zahara de los Atunes have been told their wooden properties are to be demolished next week.
The British/Swiss group, all owners at the Costa de la Luz Atlantic Forest Park, are now suing a British developer for a sum of more than a million euros. Although their battle will continue, they are being forced to leave the development’s charming villas by 12 March, on which date demolition of the complex and clearing of the land for another...
6 Mar at 6 PM 2014
Following the recent announcement of stricter regulations and increased financial guarantees for the emirates’ insurance firms, international companies at the top of the sector’s tree have welcomed the changes.
The raft of new rules introduced by local regulators is expected to force all but half a dozen of the largest players out of this lucrative market place, as the vast majority of small companies do not have the financial backing to conform to the changes. Basically, trading at a profit will only be possible for leaders in...
6 Mar at 6 PM 2014
With emigration for work purposes becoming even more common, it’s important for expats to ensure their company provides adequate healthcare packages.
Most international companies include quality healthcare insurance as an incentive to lure the best of the rest to offshore positions across the world. Would-be expat workers need to make certain the insurance package offered covers healthcare for themselves and their families relevant to their new location.
Company-based private health cover should take care of long-term treatments...
4 Mar at 6 PM 2014
In a bid to curb pension liberation scams by rogue advisors, the mainstream financial services industry is forming a trade body to regulate QROPS, SIPPS and SaSS transfers.
Made up of lawyers, trustees, trade bodies and providers, the new Pension Liberation Industry Group is to issue a set of standards intended to regulate switches between occupational pensions. The initiative has received the UK Pension Minister’s approval.
The industry-wide code of conduct aims to establish fraud-free pension transfer practices, with the group...
3 Mar at 6 PM 2014
British pensioners who emigrated to be with grandchildren or for health reasons are being forced to return to the UK because their pensions are frozen in their host countries.
An example of the desperate decisions being taken by many elderly Brits who moved abroad to be with loved ones or to take advantage of warmer weather for their healths’ sake is a 90-year old grandmother who moved to Canada in 2001. An IT lecturer during her working life, she made the move to be close to her daughter and grandchildren who’d emigrated a few...
28 Feb at 6 PM 2014
After several years of being left out in the cold by UK mortgage providers, expats hoping to purchase a home in their country of origin may now get a result.
UK buyers living overseas have been ineligible for mortgages from high street building societies and bank for some time, with the only answer being to engage an specialist international mortgage broker who knows the ropes as regards the handful of lenders still in the market. Most specialist brokers regard the sector as buoyant but severely overlooked by the mainstream lenders....
27 Feb at 6 PM 2014
The number of QROPS now on the market has hit a record high of 3,230, with a new product being released almost every day and more legislation enquiries than ever before.
The increase in enquiries about the legislation pertaining to QROPS is believed to be due to a lack of incentives to keep pension pots in Britain as well as a need to protect funds from changing legislation. Modifications to the industry initiated by HMRC over the last several years have been aimed at restraining fraudulent abuse in the marketplace as well as stopping...
26 Feb at 6 PM 2014
Stricter UAE consumer protection legislation concerning insurance brokers is to come in next November, and is expected to result in smaller firms quitting the market.
A statement from the UAE Insurance Authority’s financial regulator has conformed that, from November this year, updated rules will apply to every financial broker company in the emirates. Minimum capital requirements are to see a hefty hike in an attempt to protect consumers, causing smaller firms unable to afford the new amounts to leave the sector.
Whilst the new...
25 Feb at 6 PM 2014
The surge in the £ sterling over the last few months has seen the currency bounce upwards by more than 10 per cent, in contrast to a good number of other currencies seen to have moved in the opposite direction.
The gloomy outlook at the beginning of 2013 has slammed into reverse, with the pound faring better by far than the dollar and the euro. Reasons include an overall expectation that rates will rise in the near future, the booming housing market and improving retail sales figures.
On the negative side, employment data is...
25 Feb at 6 PM 2014
With more than a million UK citizens choosing to live abroad and potentially a million more dreaming of following, New Zealand rates highly in a poll of the most desirable destinations.
Recent research revealed that Britain exports as many expats as it imports immigrants, with over a million UK ex-residents celebrating global mobility by gracing migration hubs all over the world. The figure is expected to rise by over 20 per cent the next two years, with many hoping to be able to choose the traditional antipodean exit route and end up...