Expat Currency News

Latest 10 news items tagged Currency

6 Nov at 6 PM 2014

Hidden financial and legal hurdles cause most expat stress

A recently released survey warns that would-be expats seeking a new life overseas should watch out for hidden hurdles such as tax and currency issues or unfamiliar legalities. Up to 400,000 Brits emigrate every year, with most citing a more relaxed lifestyle as a major reason for their life-changing decision. However, the survey revealed that it’s not the most alien destinations as regards language and culture which cause the most stress – it’s mostly all-time favourite English-speaking countries such as Australia and the...
24 Oct at 6 PM 2014

How to avoid the fees and frustrations of conventional currency exchange

One of the most trying aspects of living overseas is currency transfer between your home country or offshore bank account and your account in your host country. Whether you’re retiring overseas, working for a company which pays salaries from the UK, freelancing, or just touring around the places you’ve always wanted to see before you make a decision about permanent residence, the stress and expense of currency transactions is often a negative experience. However, new technologies and several innovative start-ups are about to...
11 Sep at 6 PM 2014

UK government confirms QROPS ban on public sector and civil service pensions

Workers in the UK’s civil service and public services hoping to retire overseas via a QROPS have had their hopes dashed by a government ban on unfunded defined pension transfers. UK Chancellor George Osborne has announced that, from April 2015, some transfers from civil service and public pensions will be banned. Although the news wasn’t exactly unexpected, it’s yet another blow for retirees hoping to emigrate. The announcement is part of a raft of pension rule changes presented for parliamentary discussion and is expected to...
29 Jul at 6 PM 2014

UAE expat savings heading towards global property investments

It’s no secret that Western expats working in the UK are paid plenty enough to be able to invest for their futures, with many still favouring bricks and mortal via global property markets. Property as an asset class is regarded as a traditional and historically safe place to stash savings, offering good returns and little overall risk if the investment is carefully chosen. Whilst UAE government predictions of property price increases due to the upcoming EXPO 2020 may be shaky, investment in regenerated areas of Europe’s large...
16 Jul at 6 PM 2014

Expats enjoying the strong pound warned to watch out for fluctuations

UK expats living in the Eurozone and further-flung destinations are enjoying a boost in pension payments at the present moment, but are warned to watch out for future currency fluctuations. The global economic crash wiped a third off pension payments for UK retirees living overseas, but the ongoing British recovery has seen sterling soar against the euro over the last half-year. Economists believe the pound will strengthen further due to the European Central Bank’s preference for a weaker euro to support the rcontinental region's...
11 Jul at 6 PM 2014

Are QROPS transfers available to British expats in the USA

As the world gets smaller, many more Brits are heading to the USA, leaving their pensions back in the home country. Given the present chaos and uncertainty in the British pension system, migrants to America might well be less than happy about leaving a large proportion of their lifetime savings several thousand miles away. The good news is that it’s possible to transfer pension savings into a QROPS whilst living and working or retiring in the USA. Many investment-savvy expats feel they have cause for concern over the safety of...
10 Jul at 6 PM 2014

British cities surge up rankings of most expensive world locations

The strengthening of sterling and the soaring cost of property have sent leading UK cities soaring up the latest ‘expensive cities’ survey. London, Belfast, Aberdeen, Glasgow and Birmingham have leapt up the latest world city cost of living survey, with London now the 12th most expensive world city for expats. The capital was 25th in last year’s survey, and the house price explosion is considered to be the main reason for its re-rating. The study, commissioned by Mercers’, researched 211 cities worldwide as an aid to...
7 Jul at 6 PM 2014

Expats in Thailand living with uncertainty after military takeover

Western long-term retirees and expats legally married to Thais are fearing repercussions to their visa statuses following the recent military takeover. The recent panicky departure of over 200,000 Cambodian workers back across the border has increased expat fears that immigration crackdowns may be expanded to include those on marriage and retirement visas. One English language newspaper recently published a plea on its postbag page from a concerned expat with a Thai wife and family. The writer asked why contributions to the Thai...
1 Jul at 6 PM 2014

Expats in Cyprus win settlement in mortgage misselling scandal

The ongoing scandal concerning mis-sold mortgages on expat homes in Cyprus has affected thousands of property owners on the island, but now looks as if it’s coming to an end. Rather than risk a UK High Court judgment against them, the Cypriot Alpha Bank and a consortium of 20 property developers have settled all claims. The good news came just a day before the court hearing was due to begin, leaving the thousands of expats terrified of losing their homes hoping the nightmare is over. According to lawyers, part of the settlement...
25 Jun at 6 PM 2014

Expat cross border money transfers made easier

Every year, around 150,000 UK citizens move overseas to live and work, with most still keeping financial and familial links with the home country. Transferring money is a necessary evil for a majority of expats, whether it’s pension payments, mortgages on property at home or abroad or interest payments on UK or offshore investments. Between the relatively high costs of transfer and the threat of negative currency fluctuations, it’s one of the least favourite of all the practicalities of living overseas. Banks, alternative...