Expat Currency News
Latest 10 news items tagged Currency
16 Jul at 6 PM 2014
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
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
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
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
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
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
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.
26 May at 6 PM 2014
A Bitcoin fraud warning by the US Securities Exchange Commission was released after revelations that crooks have been setting up scams to defraud would-be investors.
Issued following Sir Richard Branson’s recent multi-million pound stake in the alternative currency
and his opening of a Bitcoin payment processor, the SEC’s warning seems to show increasing acceptance of the virtual currency
. Until recently, the US government has attempted to outlaw Bitcoin trading without success.
The Bitcoin’s controversial history to date...
19 May at 6 PM 2014
Controversial since its introduction as a unique virtual trading currency
, the Bitcoin is being seen by many expats as an answer to currency
fluctuations, even although online security is causing concern.
Wherever in the world you’re based, it’s likely that the Bitcoin will be accepted by a business close by in the very near future. New Bitcoin-friendly websites and apps are the latest fad, along with rumours of the development of cash machines and point-of-sale payment apps.
Businesses accepting the controversial payment...
7 May at 6 PM 2014
A place in the sun with complete with dream home is the ambition of many expats, but financing the deal of a lifetime can be fraught with problems.
Few of the overseas locations favoured by expats as second home or permanent residence locations offer specific products aimed at foreign house purchases. New EU restrictions on mortgage affordability are ruling many out of the game, and in farther-flung destinations it’s been traditionally impossible for foreigners to get a loan for property purchase.
However, as the worldwide credit...
18 Apr at 6 PM 2014
Since 2006, expats planning to emigrate and those already living abroad can transfer their pension pot in to a QROPS, with pension savers allowed to base their investment outside the UK.
As long as the product provider has complied with HM Revenue and Customs’ regulations, savers can base their QROPS in a choice of worldwide financial jurisdictions. Once the transfer has been made, and the member has resided overseas for five years, the fund follows its base country’s legislation, rather than the UK’s.
As a result, QROPS...