Expat Citizenship News

Latest 10 news items tagged Citizenship

31 Oct at 6 PM 2014

US warns Western expats working in the Middle East over jihadist threat

US embassies based in capital cities across the Middle East have issued a terrorism attack warning to US expats and Western teachers after an extremist group posted threats on its website. All British and American schools in the region are now under enhanced security, and embassies are working with UAE officials to improve protection for teachers and pupils. Warnings on embassy websites urge vigilance as regards personal security concerns as well as watching local English language media for further developments. According to the...
29 Oct at 6 PM 2014

US Justice Department cracks down on Swiss banking privacy

Swiss banks are being hounded by the US Justice Department to reveal all details of USA citizens’ secret accounts. Prosecutions as well as FATCA are being used to force traditionally private Swiss banks to give up the full details of money in accounts held by expats attempting to avoid paying tax in their home country. Switzerland was one of the last countries to sign up for the controversial US Foreign Account Tax Compliance Act. Credit Suisse and USB were the first banks to be hit by billions in fines for not revealing the full...
28 Oct at 6 PM 2014

US expat woes increase thanks to FATCA

A recent survey undertaken with a sample of US expats living in popular destinations revealed that almost three-quarters of respondents had considered voluntarily renouncing their citizenship to avoid the onerous FATCA requirements. The complications of endless form-filling, the threat of being barred from opening local bank accounts and the invasion of personal financial privacy have already resulted in an unprecedented number of US expat citizens giving up their passports. According to the survey, 73 per cent of respondents admitted...
23 Oct at 6 PM 2014

Expats in New Zealand falling foul of cold calling and overseas investment scams

Following on from reports of vastly increased numbers of financial scams in Europe, the Gulf States and Asia, today’s warning to citizens and expats by the Kiwi Financial Markets Authority (FMA) comes as no big surprise. Expats across the world are now being ripped off via an unprecedented number of financial fraudsters lurking in expat communities. The majority of those targeted are older expats and retirees, and pension pots and life savings are more at risk than ever before. The FMA’s action comes as a result of an...
20 Oct at 6 PM 2014

Continuing FATCA chaos impacts long term US expats in Canada

Problems with retaining bank accounts and complying with complicated regulations are hitting hard on all US expats, but those who emigrated to Canada many years ago are experiencing the worst effects. Last February, the Canadian government finally signed on to co-operation with FATCA ruling as regards the disclosure of privately held offshore assets belonging to US expats resident north of the border. The steep penalties imposed on non-compliant foreign banks and the mass of paperwork required has led to many US and foreign banks...
15 Oct at 11 AM 2014

Foreign countries ramp up incentives to attract expat retirees

Senior citizens in first world countries such as the UK and USA are being offered a variety of retirement incentives such as tax breaks and easy visa options by an increasing number of states worldwide. The value of would-be expat pensioners to second and third world economies seems at last to be obvious to a good number of far-flung yet attractive destinations’ governments. American expats started the trend with an exodus across the country’s southern border to Mexico, with Ecuador now a favourite for its cheaper expat mortgages,...
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...
19 Sep at 6 PM 2014

Survey reveals most investors have problems with financial jargon

According to the UK government’s Money Advice Service, most investors and pension savers have difficulties understanding financial jargon. Almost 90 per cent of those surveyed admitted they didn’t read the small print before signing up to investments or funds. Worse still, the majority had no understanding of the acronyms used by financial advisors when selling an investment. Over the years, failure to grasp the real meaning of simple financial terminology has had devastating effects on many investors’ life savings, with...
19 Sep at 6 PM 2014

EU court rules against Spanish inheritance tax discrimination

Expats with properties in Spain and holiday home owners are to benefit by an EU court ruling allowing them the same range of tax relief options as Spanish citizens. Discrimination against non-residents as regards tax liabilities has long been an issue amongst UK expat property owners who spend time in both countries. By the use of tax relief options, residents’ taxes can be cut to around zero, but the same options have not been granted to part-time expat residents owning holiday homes. The European Court of Justice stated that...
18 Sep at 6 PM 2014

Top ten world cities for the ultimate healthy expat lifestyle

Environmental concerns are creeping up the list of must-haves for a successful life overseas, but healthy places to live aren’t just found outside major world cities. A recent survey by CNN News identified no less than 10 world cities which offer a healthy lifestyle for migrants. Surprisingly, the giant metropolis of New York featured in the final list for its facilities and the healthy habits of most of its millions of residents. Given that clean air and water aren’t as pristine in world cities as in the countryside, several...