Expat Currency News
Latest 10 news items tagged Currency
22 Jul at 6 PM 2016
Brexit’s shock result has all but wrecked the retirement plans of many Brits due to freedom of movement insecurity and possible financial planning chaos.
The biggest question mark threatening the retirement plans of a fair proportion of older Brits is the ability to settle legally in one of the many European expat destinations. Although, just a month after the referendum took place, there seems to be a slight easing of doom and gloom as regards freedom of movement, the risk of losing everything is still there.
Even more of a risk...
22 Jul at 6 PM 2016
Mortgage enquiries from overseas buyers as well as UK expats living overseas have surged since the Brexit result triggered a fall in sterling.
Prospective buyers are emerging from Europe, the Middle East and the Far East, with the renewed interest in purchasing UK property down to five key Brexit-related issues. UK property has always been a popular form of investment due to the fundamental strength of the market, and is considered a relatively safe haven in uncertain times.
The 50 per cent upswing in demand for UK mortgages is...
21 Jul at 6 PM 2016
Since July 1, all foreign financial firms dealing with US expats overseas will face massive penalties for failing to annually disclose their clients’ accounts and financial affairs.
The introduction of the swingeing system of fines was the final stage of FATCA’s implementation worldwide, only delayed due to the need to update US government software as well as foreign firms’ client identification programmes. In spite of legal and political challenges against its implementation, there was never any real doubt that FATCA would...
11 Jul at 6 PM 2016
In spite of the uncertainty of their future in France, would-be UK expats and those recently arrived are not about to change their minds as regards their preferred country of residence.
Whilst expats already living across the Channel are having problems digesting the possible future effects of Brexit, many who’ve already made the decision to leave the UK are sticking to their guns and changing their plans to suit the circumstances. Notwithstanding the fall in sterling, tearing up their long-held dreams is definitely not an option....
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...