Expat Currency News

Latest 10 news items tagged Currency

23 Jun at 6 PM 2017

Survey shows Gulf states rising costs of living

In spite of readjustments in their local economies, Abu Dhabi and Dubai’s survey rankings have moved up, indicating more expense for expats in the region. The Mercers cost of living survey found that Dubai had risen one point to 20th most expensive world city, with Abu Dhabi following on at 23rd, two points up from last year’s study. Several other Gulf cities including Doha, Muscat and Riyadh also featured in the list of top 100 most expensive expat destinations. The Dubai and Abu Dhabi ratings come as something of a surprise as...
22 Jun at 6 PM 2017

Shifting global economy good news for expat living

The oil price crash combined with increasing global nationalism over the past year has caused the global economy to shift, thus decreasing the cost of living in London and other expensive expat destinations. As a result of the global changes, the latest survey of the world’s most expensive cities has produced some surprising results indicating dramatic cuts to the cost of living in London and other major world cities. In the majority of cases, the values of local currencies have tanked against foreign currency rates, with expats...
8 Jun at 6 PM 2017

Plunging pound helps reduce EU expat living costs

The UK’s cost of living for EU and other expats drawing in money from foreign accounts has fallen dramatically since the Brexit referendum. A new global cost of living survey has seen the plunging pound sterling bringing benefits for expatriates paid in foreign currencies. UK cities are now the cheapest as regards the cost of everyday living for ten years or more, dropping to 68 places lower in the global survey. Formerly placed high in the listings of the top 100 most expensive cities, London’s ranking of 132nd is an all-time low,...
17 May at 6 PM 2017

Hong Kong losing its charm for expat professionals

Once the favoured exotic destination for expat professionals, Hong Kong is losing ground to India and Japan due to its shrinking benefit packages. Expat pay packages and benefits in Hong Kong, once a favourite of expat professionals looking to get the best deal, are at their lowest point since 2012. The once generous terms of employment have dropped by 5 per cent and are now eclipsed by job offerings on the Chinese mainland, in Japan and in India. The average package of salary and inclusive benefits for middle managers is now at...
11 May at 6 PM 2017

Foreign finances and FATCA for US expats

American expats are far moré likely to up sticks and move between various international destinations than other nationalities, but managing finances can be tricky, especially where taxation is concerned. The result of this constant sampling of new destinations can result in a variety of bank accounts in different countries and currencies, causing headaches when it’s time for the annual tax return. The introduction of the dreaded FATCA has made it even more difficult, as an unintended mistake can result in horrendous fines. However...
1 May at 6 PM 2017

Alternatives to pension plans for disenchanted expat investors

Times are changing as regards planning for retirement, with actual pension plans beginning to lose their popularity due to government-initiated rule changes and media exposure of unsuitable products and even scams. DIY investment is a scary thought for many expat retirees, mostly due to its jargons and the need to study before taking major plunges. However, retirement doesn’t have to mean brain death, and researching into investment possibilities can be far more interesting than learning a new language. The added bonuses are saving...
26 Apr at 6 PM 2017

Warnings about QROPS pension scammers still hitting the headlines

Due perhaps to the soaring popularity over the last decade of the Qualifying Recognised Overseas Pension Scheme (QROPS) and its benefits for those on private pensions, the numbers of pension scammers taking advantage of financial novices have also shown a massive increase. QROPS are based outside the UK and must meet stringent conditions imposed by Her Majesty’s Customs and Excise. Should the conditions be breached, the hapless pension saver will be liable for a tax bill of 55 per cent of the full amount. However, for pensioners...
27 Mar at 6 PM 2017

Corbyn calls for immediate repeal of UK frozen pension legislation

UK Labour Party leader Jeremy Corbyn has joined the fight to repeal Britain’s hated ‘frozen pensions’ policy by calling for an immediate parliamentary vote to repeal the ruling. Corbyn has been a strong supporter of the campaign to end expat frozen pensions, and is now urging British lawmakers to vote to end the discriminatory regulation. Labour MPs have just a week to secure a debate and vote in the House of Commons, as the UK Parliament’s Easter Recess begins on March 30. If the party’s efforts are successful, around half...
27 Mar at 6 PM 2017

Newbie expat mistakes and how to correct them

Moving overseas is a stressful experience, whatever your reason for leaving the home country, but avoiding the headaches caused by obvious mistakes isn’t as hard as it may seem. In the rush to make sure you, your family if applicable and even the dog arrive safely in your new country, it’s easy to put off or even forget essential tasks which will make your life easier after you arrive and even ensure your eventual return will be trouble-free. Most of the tips here involve money and the ease of your access to it, a subject which...
22 Mar at 6 PM 2017

Singapore still the most expensive place on the planet

For the fourth year running, Singapore is rated as the world’s most expensive location for expat professionals. The latest league table showing expat costs of living across major world locations has confirmed Singapore as the most expensive city for expatriates.The Economist Intelligence Unit’s study sees the Southeast Asian city state top the league for the fourth year in succession as well as noting 50 per cent of the world’s most pricey expat locations are now in Asia. However, in spite of its high ranking, Singapore offers...