Expat Canada News

Latest 10 news items tagged Canada

17 Oct at 6 PM 2014

Survey results urge expats to be informed about financial matters

An expat survey conducted amongst new arrivals by the Bank of Canada emphasises that, wherever you decide to settle, getting money matters straight is essential. Although the survey focuses on Canada, its conclusions hold true in all expat destinations worldwide. New arrivals face similar financial challenges wherever they decide to live, and simple mistakes can ruin lifestyles and cause huge losses. Factoring in expenses such as the actual cost of the move itself or transporting pets as well as people often aren’t taken into...
15 Oct at 10 AM 2014

Are protests affecting the Hong Kong expat community

Expats in Hong Kong are now living through an unprecedented level of protests against China’s Communist rulers, but how is the seemingly unresolvable drama affecting the expat community? Started, as are many similar events worldwide, by local students and now spread to hundreds of thousands of Hong Kong citizens who value their island’s democratic basis, the protests are certainly making everyday life difficult for the city’s large expat community. Few Westerners are seen in the morass of people, but many are forming their own...
14 Oct at 6 PM 2014

Portugal the ideal destination for expat retirees

The search for the perfect overseas retirement haven is crucial to many retirees’ plans for the future, and involves finding a dream home in a sunny, friendly environment such as Portugal’s romantic Algarve region. Known for several decades by literally thousands of UK expats as a great place to live, a recent survey has identified the Algarve as an all-time favourite. Its medieval cities, coastal fishing villages and small towns, local markets, delicious food and wine and warm weather are all topped off by friendly, established...
22 Sep at 6 PM 2014

Expats in Thailand worried about long term stay prospects under junta

For decades, Thailand has been a favourite expat destination for Westerners due to its relaxed immigration rules, great weather and exotic culture, but the dream may be about to end. Traditionally, immigration laws were interpreted loosely, allowing long-term stays on short-term tourist visas for those not married to Thais or ineligible for retirement visas. Since the military took over the running of the country last May, long-forgotten rules have been brought out, dusted down and applied with rigorous intent by immigration police....
16 Sep at 6 PM 2014

US renounce citizenship fee soars as thousands leave to avoid FATCA

The fee payable to the State Department by US citizens wishing to renounce their citizenship has soared by over 400 per cent since the introduction of the FATCA reporting system. Originally just $450, the charge for renouncing US citizenship now stands at $2,350. State Department officials claim the new amount represents the actual cost of the procedure and are admitting that demand for the service is at an all-time high. In some regions, the US Consular waiting list for the required expatriation interview is now six months or...
8 Sep at 6 PM 2014

Expat students rejecting Saudi private unis for studying abroad

Saudi Arabia’s private universities are failing to attract expat student, most of whom are choosing to gain their degrees in overseas centres of excellence. According to local academics, only 30 per cent of expat students are taking degree courses at the Kingdom’s private universities. The majority are returning to their home countries to study, with high tuition fees given as the main reason. Saudi’s private universities are a convenient alternative for expat students who cannot be admitted to government universities....
5 Sep at 6 PM 2014

Expat and UK resident investors slate life companies over LMIM losses

As lawyers in the UK and Australia prepare court cases on behalf of victims of the largest financial scandal to hit Australia in decades, many are accusing life companies of a lack of due diligence. The failure of LMIM and its Managed Performance Fund (MPF) has devastated savers and investors in expat locations such as Hong Kong, the UAE, Thailand and the rest of Southeast Asia as well as many in the UK, Europe and Australia. Total losses are running at around AU$369 million, and investors have been warned to expect no more than five...
5 Sep at 6 PM 2014

UK expats urged to join campaign against bank account closures

UK expatriates facing the closure of their UK bank accounts or refusals to open an account are being urged to join a new campaign aiming to change the rules. During the last several months, Santander and other high street banks in the UK have begun a crackdown on expat account holders and those wishing to either change or open accounts. The reason given is that UK banks are only obliged to provide services to British residents. The move has provoked anger amongst expats living overseas, many of whom have held accounts in the UK for...
4 Sep at 6 PM 2014

UK pension revolution sees annuity sales fall by 50 per cent

The biggest change in UK pension legislation in almost a century, slated to result in significant losses for product providers and FAs, is already triggering a massive fall in annuity purchases. The new rules won’t come into effect until April next year, but a huge slowdown in annuity sales is already being reported. Previously, retirees forced by law to convert their pension pots to annuities were unwittingly locked into unsatisfactory deals, bringing accusations of rip-offs and mis-selling. The product and its compulsory...
4 Sep at 6 PM 2014

US expats mount legal challenge over Canada FATCA declarations

As the dreaded FATCA financial declaration requirements get under way, angry US expats living in Canada are legally challenging the Canadian government under the Rights and Freedoms Charter. Canada was a later signatory to the US’s controversial scheme which forces foreign financial institutions to report all expat US citizens’ private investments and bank account details to the IRS. The expat group, after losing out on their anti-FATCA campaign, has now filed a lawsuit against the Canadian government, citing the country’s...