Expat Emigration News

Latest 10 news items tagged Emigration

24 Oct at 6 PM 2014

Foreign Office urges research before choosing an overseas retirement destination

The UK’s Foreign and Commonwealth Office (FCO) is urging retirees heading for life overseas to look carefully and plan ahead before they leap. Millions of UK nationals are now aiming to relocate or retire abroad, with the tempting prospect of warmer weather and a better lifestyle the main reason for the decision. However, it seems that not all prospective expats know exactly what they’re letting themselves in for as regards cultural differences and financial worries. A recent survey confirmed that two-thirds of those planning...
20 Oct at 6 PM 2014

Continuing FATCA chaos impacts long term US expats in Canada

Problems with retaining bank accounts and complying with complicated regulations are hitting hard on all US expats, but those who emigrated to Canada many years ago are experiencing the worst effects. Last February, the Canadian government finally signed on to co-operation with FATCA ruling as regards the disclosure of privately held offshore assets belonging to US expats resident north of the border. The steep penalties imposed on non-compliant foreign banks and the mass of paperwork required has led to many US and foreign banks...
17 Oct at 6 PM 2014

Survey results urge expats to be informed about financial matters

An expat survey conducted amongst new arrivals by the Bank of Canada emphasises that, wherever you decide to settle, getting money matters straight is essential. Although the survey focuses on Canada, its conclusions hold true in all expat destinations worldwide. New arrivals face similar financial challenges wherever they decide to live, and simple mistakes can ruin lifestyles and cause huge losses. Factoring in expenses such as the actual cost of the move itself or transporting pets as well as people often aren’t taken into...
24 Sep at 6 PM 2014

Missing expat Premium Bond prizewinners urged to claim their windfalls

Two British expats who’ve probably forgotten they’d bought Premium Bonds are sitting on a major windfall totalling £150,000. The UK’s Premium Bond scheme encouraged millions of post-war Britons to buy its shares at £1 each and take part in its monthly draws. Many savers won small or larger prizes over the years until the National Lottery and the later Euro lotteries began offering huge prizes not linked to savings. One of the two unclaimed prizes is due to a woman holding six bonds who emigrated to Australia and...
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...
11 Aug at 6 PM 2014

Graduate Irish doctors tempted to stay by tax breaks

In a desperate move to stop the majority of Irish medical professionals leaving for better-paid jobs overseas, the government is being urged to cut an impressive tax deal with newly-graduated doctors. A detailed proposal from two Irish government departments, Finance and Health, is being closely scrutinised for inclusion in the country’s 2015 budget. The move follows the continuing migration of a huge number of doctors, nurses and other health professionals to the UK, Canada, Australia and New Zealand. The five million euro per...
28 Jul at 6 PM 2014

HMRC issues third highest QROPS mass suspension since April 2006

The 15 July official QROPS list published by the UK’s HMRC has suspended a total of 118 Qualified Recognised Overseas Pension Schemes (QROPS). The mass cull is the third largest since the scheme itself was introduced in April 2006, and includes 99 Australian QROPS, one from Mauritius, 15 from India and two from Canada. The tax authority declines to explain the reasons for its decisions, but suspensions can be the result of pensions no longer qualifying for inclusion, tax abuse, single member schemes losing members or reviews of a...
15 Jul at 6 PM 2014

Number of Britons living overseas soars to over five million

According to a report by the United Nations, well over five million British citizens have emigrated for reasons of work, retirement or general dissatisfaction with the state of their home country. Since 1990, the number of British-born migrants has increased by 23 per cent, with the majority of those leaving heading for sunnier climes. Australia is the all-time favourite destination, now home to some 1.27 million former British residents. America is the next most popular place for immigration, with 758,919 Brits in residence, and...
11 Jul at 6 PM 2014

Expat medical problems made worse by language barriers

One of the major expat concerns is the adequacy of local health systems in the host country, particularly if emigration includes the children of the family. Moving abroad and settling into an unfamiliar country with a young family is a stressful experience at the best of times, made even more difficult when health problems occur. Even if comprehensive health insurance has been provided as part of a salary package, finding the right medical practitioner can be complicated by language issues. It’s easy to lose confidence in a...
10 Jul at 6 PM 2014

British exodus from Spain replaced by Russian incomers

Changes in the Spanish tax regime have sent thousands of British expats scurrying back to the UK, only to be replaced by hordes of emigrating Russians. According to the Spanish National Institute of Statistics, the total number of foreigners resident in Spain dropped by an impressive half a million last year, firmly establishing the returnee trend. The massive reduction isn’t all down to emigration, as almost half a million expats gained Spanish citizenship in 2013. However, it’s obvious to businesses serving the UK expat...