Expat Currency News

Latest 10 news items tagged Currency

28 May at 10 AM 2016

Expats stick with offshore banks in spite of poor rewards

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

Result of latest Brexit Poll sends sterling exchange rate soaring

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

Spanish property market facing challenges in 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

Expats in Kuwait to pay tax on international transfers

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...
3 May at 6 PM 2016

Expat professionals in Africa becoming less attractive to employers

In spite of Africa’s continent-wide skills shortage and need for foreign expertise, the numbers of expats working for multinational companies is on the decrease. For international companies operating within Africa, finding the right candidates for upper-level jobs has always been a challenge. Under restrictive colonial rule until comparatively recently, African countries in general were bereft of good schools and universities in which home-grown talent could flourish. Following independence, oppressive dictatorships and local...
13 Apr at 6 PM 2016

Expat buy to let mortgage demand still strong

In spite of new restrictions introduced by the government in March’s budget, the expat buy to let mortgage market is seeing increased demand for its products. Expats wishing to maintain a foothold in the British property market are now being offered a wider choice of buy to let mortgages. UK property prices are still climbing faster than the 2015 global average, making buy to let not only a source of regular income but also a good bet for capital increases. In order to increase their market share, new guys in the game Skipton...
12 Apr at 6 PM 2016

UK retirees still prefer European destinations for their golden years

Despite increasing fears that the upcoming Brexit referendum will wreck their long-held plans, UK retirees are still planning to head to favourite European destinations to enjoy their golden years. A recent survey showed that one in every ten respondents were intending to use their pension savings to retire overseas. The poll involved 1,000 UK citizens between the ages of 50 to 70 years, with the coastal continental European destinations topping out as the chosen favourites for 68 per cent of those who took part. The most popular...
1 Apr at 6 PM 2016

QROPs transfers OK for former expat workers in UK

QROPs can be had by foreign expats with UK workplace pension rights. It’s a well-known fallacy that expats from overseas who’ve had workplace or personal pension plans can’t access them once they’ve retired in their home country or overseas. The main reason for this frustrating belief is that many occupational and private pensions taken out in the UK are difficult to access from many overseas locations. As a result, the cash benefits accrued are locked away whilst the pension providers are obliged to deduct tax from the...
30 Mar at 6 PM 2016

Currency exchange roller coaster hitting Brit expats in Europe

British pensioners who’ve moved to other EU member states over the past ten years have seen currency rates shave 11 per cent off their income. Fluctuating exchange rates since 2006 have reduced the actual value in euros of British pensions by 11 per cent, according to pension provider companies. Combined with a rise in the cost of living across the Eurozone and a major fall in property values, it’s bad news for expats who planned a comfortable retirement overseas. The latest fall in the value of the British pound is the result...
21 Mar at 6 PM 2016

Brexit nightmare hits Brits in Spain

Contrary to the expected uproar from over a million UK expats in Spain over even the possibility of Britain’s quitting the EU, many long-term Brits are going with their gut feelings and voting to leave. Although the vast majority of Brits living the dream in Spain’s costas haven’t changed their nationalities, a good number have lived outside the UK for more than 15 years, thus losing their right to vote. The same applies to many of the four million Brits living elsewhere in the EU, with no poll having been taken on the...