Expat Caribbean News
Latest 10 news items tagged Caribbean
4 Nov at 6 PM 2014
Scammed retirement savers whose cash was lost in the Harlequin property crash are now facing up to ten years’ continuing charges by their pension providers.
Affected investors who were persuaded to take out QROPS and SIPPS-wrapped products have not only lost every penny of their savings, but are being charged £500 per annum by the pension providers themselves. Ostensibly referred to as management charges, the totals taken by providers will add some £17 million to the estimated losses.
Thousands of pension savers are affected,...
3 Jun at 6 PM 2014
Financial planning for expat retirement overseas is tricky at the best of times, but for those choosing a destination where the UK state pension is frozen, it often proves one issue too many.
A recent article in the Times newspaper tells it like it is for more than 500,000 British pensioners living in countries without reciprocal agreements with the UK government. The writer of the article, David Budworth, found during his research that the words ‘offensive’ and ‘appalling’ were used often, along with other less printable...
2 Jun at 6 PM 2014
The survey, undertaken by an upscale property company with offices in 21 world locations, has identified Majorca as having the strongest price rises over the last year.
Beating out even London’s trendy Chelsea and Westminster districts’ price rises, luxury Majorcan properties are being snapped up by wealthy Brits as well as non-EU citizens looking to benefit from the island’s Golden Visa offers. Purchasers of properties worth over 1.5 million euros qualify for permanent residency.
Whilst real estate prices in Majorca soared...
18 Apr at 6 PM 2014
Hard on the heels of the possible withdrawal of overseas heath benefits for expats and travellers, a health insurance company has launched a cross-border medical insurance plan.
A major medical insurance company is re-jigging its plans in order to give customers the freedom to cross borders without having to rearrange their health insurance or pay expensive globetrotter charges. Aviva is offering two plans, one of which excludes the Caribbean
and the USA, whilst the other allows full world travel.
According to the insurer, the new...
12 Mar at 6 PM 2014
Although the FCA is now cracking down on dodgy FAs and property scams in the UK, British pensioners in Thailand are still being cheated out of their savings by unprincipled property agents and unregistered FAs.
Hapless senior citizens who’d planned to retire in a warm, inexpensive country are being ripped off by their own people in Thailand’s favourite expat destinations. Readers will remember the media publicity surrounding the Harlequin Group’s investigation by the British Serious Fraud Squad after the administrators were...
24 Jan at 6 PM 2014
Expats, locals and visitors to Dubai must now have compulsory medical insurance, with the new law taking effect immediately.
The move is expected to push up the cost of health insurance in the emirate, although it’s expected that private companies employing expats will bear the cost. The scheme will be phased in over a three year period, and its introduction ends years of speculation about its application to expats.
Mandatory health insurance will place a strain on local hospitals, as those previously uninsured and unable to...
25 Oct at 6 PM 2013
Following the suspension of the Brandeaux range of property funds in late July and October’s news that the Mansion Student Accommodation fund is also suspended, expats with investments in the sector are bracing for the worst.
Questions are now being asked as to whether the property sector is an appropriate investment, especially for expat retirees. Earlier this year, Harlequin Properties, which marketed its off-plan Caribbean
luxury villas as SIPPS investments, called in the administrators and, more recently, the Australia-based LM...
30 Aug at 6 PM 2013
Newly-arrived British expats can be caught out by obscure local laws resulting in arrests and fines if they don’t check the cultural norms of their chosen country before they arrive.
Some of the strangest laws only rear their heads when expats are found breaking them by overzealous local police. For example, a Spanish couple who owned a pub set up a charity bingo night and found themselves, along with all their customers, being bussed down to the local police station to be fined.
Muslim countries present the biggest problems for...
22 Jul at 6 PM 2013
country of Belize is attracting increasing numbers of expats with its combination of a retirement incentive programme and the fact that English is widely spoken.
Just a few years ago, the Belize expat population was numbered in dozens. Nowadays, there’s an expanding, vibrant community of residents from mainland Europe, the USA and the UK, all attracted by the country’s recently unveiled Retired Persons Incentive Programme.
Location and lifestyle are other attractions, with the country’s coastline backing the...
19 Jul at 6 PM 2013
Recently released figures from the Foreign and Commonwealth Office indicate that the number of Brits abroad asking for help from British consulates is on the decrease.
The FCO’s yearly British Behaviour Abroad report revealed that consular staff was called to assist over 19,000 UK citizens in far-flung destinations over the 2012/2013 period. The figures show an overall decrease of three per cent, but some countries saw increases in more serious cases.
The good news is that the number of Brits arrested for drug crime dropped to a...