Expat Currency News
Latest 10 news items tagged Currency
28 Jun at 6 PM 2016
Recent good news that the Spanish property market is finally escaping years in the doldrums has been overturned by Brexit and the slump in sterling.
Although a glimmer of hope for long-term British expats on the Costas was given yesterday by the Spanish prime minister, the long-term projections as to Brexit’s effect on the property market, tourism in general and expats’ right to remain are far less than optimistic. Up until the referendum, foreign buyers, mostly from the UK, were queuing up to grab their own slice of Spanish sun,...
24 Jun at 6 PM 2016
UK expats living and retiring in Spain are in a state of shock as their worst fears about Brexit are confirmed.
Brits living the good life in Spain woke this morning to their worst nightmare – the decision of a majority of eligible referendum voters to leave the UK. Immediately, <a href="http://www.exchangerates.org.uk/news/15681/gbp-eur-pound-euro-exchange-rate-news-and-outlook-.html">the pound to euro exchange rate plummeted</a> and world stock markets braced themselves for a replay of the financial crash of...
22 Jun at 6 PM 2016
One of the most important and longest running cost of living surveys has declared Hong Kong to be the most expensive cities in the world for expats.
The 22nd Mercers survey places the Asian expat hotspot at the top of its list of 209 cities as regards cost of living. The aim of the annual study is to help major employers decide on relocation packages, taking into account the average prices of over 200 items from a beer or a coffee to accommodation costs.
Hong Kong’s elevation to the top of the tree isn’t a surprise, as the...
14 Jun at 6 PM 2016
With the remain/leave debate accelerating by the hour, the latest attempt by the Remain campaign has been to focus on the falling value of post Brexit sterling.
Whichever group is putting itself forward at any one point in time, one thing they both agree on is that the value of sterling will take a significant hit should the UK vote to leave the EU. Expats living across most of the 28 EU member states also realise this, and are able to work out the ramifications themselves. Let’s face it, they’ve been through enough exchange rate...
9 Jun at 6 PM 2016
A survey of relative costs of living across professional expat global relocation destinations rates Singapore 18th in the 'most expensive Asian cities' lisitng.
Current rankings for Asian cities now places Singapore as the 18th most expensive city in the Asian region. Over the past five years, the city state’s cost of living has risen significantly in spite of recently lower inflation rates. The city’s global cost of living ranking has soared 12 points, mirroring the increases in the cost of living for expat professionals.
7 Jun at 6 PM 2016
Whilst many British expats living in Spain are experiencing nervous breakdowns over the possibility of a Brexit, others who’ve already left are overjoyed they don’t have to deal with Spain’s new tax laws covering overseas assets.
Estimates of the number of EU and British expats who took their money elsewhere rather than be taxed on their overseas assets are now in the high thousands. The tax changes in 2015 have also resulted in a strong decline in the number of new expat arrivals.
The new rules, originally aimed at Spanish...
28 May at 10 AM 2016
A recent survey found that British expats are still making use of offshore banks rather than transferring their cash to foriegn onshore banks in overseas locations.
In spite of scares such as the Icelandic bank failures and a lack of decent rates of interest on deposits, British expats living overseas seem to be sticking with their offshore banks. A survey undertaken on behalf of AES International has revealed that banking offshore is still the most popular way to go, even although the number of providers is falling fast and interest...
26 May at 6 PM 2016
Tuesday’s Brexit poll result is bringing good news to expats living in EU member states due to its positive effect on sterling exchange rates.
Expats living in favourite European retirement havens are happy to receive positive news on two fronts this week. Results of a new Brexit poll by ORB Telegraph revealed the Remain campaign is now ahead by a full 13 points, with the immediate effect that sterling rose against the Euro to 1.32 to the pound.It’s especially good news for retirees on UK state pensions, the real value of which...
11 May at 6 PM 2016
Although demand for Spanish property has increased recently due to improved mortgage rates and low real estate prices, the Spanish real estate market is under threat in 2016 from Brexit, currency
turmoil and new Andalusian holiday let laws.
A recent survey reports strong expat demand for Spanish property originating mostly from the UK, Germany and Scandinavia, along with market activity from other northerly countries. However, as Brexit approaches, there’s increased nervousness about the outcome, with fears of the UK leaving the...
3 May at 6 PM 2016
A recent announcement by the Kuwaiti government suggests that expats may be forced to pay tax on their international money transfers.
Kuwaiti MP Faisal Mohamed al-Kandari has suggested that a tax be imposed on expatriate money transfers. The emirate is home to around three million expat workers, with a total of KD 19 billion having been sent out of the country over the past five years.According to al-Kandari, the amount transferred is the equivalent of the country’s 2015 national budget, and imposing a tax on the transfers would be a...