Expat Citizenship News

Latest 10 news items tagged Citizenship

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...
3 Sep at 6 PM 2014

UK Tory party pledges end to expat 15 year disenfranchisement

In their manifesto for the 2015 general election, the Conservative Party has announced it will scrap the unpopular rule preventing expats who’ve lived overseas for over 15 years from voting in UK general elections. Britain is one of few EU member states which enforce disenfranchisement for expat citizens, with the rule causing anger and resentment amongst many UK expat communities. Retired citizens living overseas believe that their contribution to their home country over their working lives entitles them to have a lifelong say in...
2 Sep at 6 PM 2014

Is your cash protected in an offshore savings account

Offshore bank accounts give convenient access to regular or emergency cash, but how many depositors know how much of their savings are protected? Migration planning for would-be expats often includes opening an offshore bank account for access to pension payments transferred from onshore accounts. The option may become even more popular due to recent UK high street bank crackdowns on accounts held by UK citizens living permanently overseas. However, given the ongoing instability in the financial world, just how safe is your money...
22 Aug at 6 PM 2014

Has UK government declared open season on expats

Hard on the heels of the projected loss of tax allowances, the banking clampdown on expat accounts and credit cards and other punitive measures comes the threat of expat tax errors being criminalised. As if frozen pensions, cancelled winter fuel allowances, disenfranchisement and the dysfunctional passport replacement changes weren’t enough, it seems that the government is continuing to dream up more ways of wrecking overseas pensioners’ lives. The latest news that an error or oversight in declarations of overseas income will...
21 Aug at 6 PM 2014

Best 10 low tax jurisdictions for wealthy expats

The rash of changes in international tax laws have caused difficulties for wealthy would-be expats, but the globe still holds a number of low-tax jurisdictions happy to accept large pension pots and savings. A recent investigation revealed the top ten most tax-friendly countries based on actual tax rates, lifestyles, political and economic security and tempting expat packages for the wealthy or comfortably off. Many are idyllic tropical paradises, and several have tax rates as low as zero. The Bahamas is an ever-popular refuge with...
21 Aug at 6 PM 2014

UK expats encouraged to complain about treatment by UK banks

British citizens living overseas are being urged to complain to the Competition and Markets Authority (CMA) about unfair treatment by onshore UK banks. The controversy over the treatment of UK expats by onshore banks is ratcheting up after calls to report offenders to the UK authorities. A majority of expats working or retiring overseas have kept their former UK bank accounts to facilitate transfers of pensions and other payments to bank accounts in their countries of residence. Although UK state pensions are able to be paid into...
18 Aug at 6 PM 2014

Run up to New Zealand election marred by racism

As New Zealand’s election campaign hots up, a disturbing new theme is emerging as at least two political parties are being accused of racist comments. In this peace-loving island country, racial tolerance has always been regarded as a cause for pride. Remarks made by the leader of the New Zealand First party’s campaign launch last Sunday have caused dismay amongst the South Pacific nation’s 4.5 million citizens. In the initial speech of his party’s campaign, Winston Peters slated the government for condoning the sale of...
15 Aug at 6 PM 2014

Are British banks ridding themselves of their UK expat customers

Between five and six million UK citizens living overseas may be at risk of losing their UK-based bank accounts. Of the millions of UK-born expats living overseas, at least 800,000 are believed to be domiciled in European Union states as business owners, retirees or employees of foreign or UK-based companies. Creeping moves by British high street banks suggest that British citizens living in the EU or farther afield may no longer be welcome as customers. The recent cancellation by Santander of expats’ debit cards held on their UK...
12 Aug at 6 PM 2014

UK government to strip personal tax allowance from expats overseas

Non-resident UK expats are to be hit by a £400 million tax raid if government plans to abolish their personal tax allowances pass a consultation. The proposal, hinted at during the Chancellor’s March 2014 Budget speech, has now been released for formal consultation and, if passed, will be brought in next year. At present, EU nationals and UK expats living or working overseas can offset income earned in Britain against the basic £10,000 personal tax allowance. Expats with buy-to-rent properties or those who are letting their UK...
8 Aug at 6 PM 2014

Do retirement dreams fade after second thoughts kick in

Survey after survey indicates that an increasing number of Brits can’t wait to retire overseas, but second thoughts later in life can wreck the dream. One recent study revealed that around six million British citizens are eager to move to other countries for a variety of reasons. However, many are younger people who find that, the older they get, the less they can face up to the challenges involved. In the real world, retirement overseas has its pitfalls, most of which can be avoided by careful planning and a large dose of...