Expat Citizenship News

Latest 10 news items tagged Citizenship

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...
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...
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...