Expat Money News

Latest 10 news items tagged Money

19 Jun at 6 PM 2018

Portuguese Golden Visa suspected as money laundering tool

Portugal’s Golden Visa programme is being condemned as a vehicle for money laundering via real estate purchases. NGO Transparency International is taking up on last year’s warning by Portuguese government allies by declaring the country’s Golden Visa scheme is simply a form of money laundering.The programme, introduced six years ago, grants Portuguese passports and citizenship as well as EU passports and member state privileges to wealthy individuals in exchange for hefty cash investments, usually through the purchase of upscale...
19 Jun at 6 PM 2018

ING and Citibank stop lending to OZ expat property investors

Aussie expat investors are being cut off from mortgages by an international bank’s Australian subsidiary. ING Australia has announced it will no longer offer mortgages to expat Australians wishing to invest in home country property. It’s the second international lender to cut off credit to expat borrowers despite increasing demand from wealthy Australian nationals living overseas, with Citibank announcing the same cut off earlier this week. Australian property news websites are reporting the reasons behind the move are the...
11 Jun at 6 PM 2018

Expatriates in South Korea alternate between hope and fear

Two million expats in South Korea are swinging between despair, hope and fear due to the threat of discord between Trump and Kim Jong Un. Ever since the Winter Olympics, South Koreans have veered from hope through fear to despair as the political circus and its two main clowns played games of one-upmanship and power. Unheard and mostly unseen, the two million expats in the South endured their own emotional swings, now coming to a head as the two combatants meet in Singapore. South Korea’s expat community is a permanent part of...
7 Jun at 6 PM 2018

Buying your future UK home via an expat mortgage

For expats thinking of buying a home in the UK for retirement after their contract ends, getting a mortgage can be a challenge. At present, some four million British citizens are living overseas, with a good number preparing to return home once they’ve retired. One way of making sure there’s a home to go to is to purchase a buy-to-let property and tailor the rental lease to the end date on the overseas contract. However, if a mortgage is needed, the bureaucratic requirements can be more complicated than expected, with stumbling...
6 Jun at 6 PM 2018

Survey shows US expats increasing anger over federal tax reporting

The proportion of US-born expats living overseas who resent being forced to pay federal taxes is increasing, with 20 per cent of respondents considering renouncing their citizenship as a result. The survey by a major US expat tax services firm notes some nine million US citizens are living and working overseas, with all still having to submit to the IRS’s federal tax reporting laws. Over 3,800 US expats took part in the study, with 68 per cent of respondents stating they should not be forced to submit tax returns once they’ve left...
31 May at 6 PM 2018

Brit expat parents plead with Oz government to deport their son

A British couple living in retirement in Australia are urging the government to deport their wayward son back to the UK after he’d stolen their savings and forced them to sell their home to cover his debts. Russell Lewis, now 43 years old, stole his parents’ credit card, emptied their bank account and ended up £27,000 in debt after spending his parents’ money on top of the range TVs, portable air conditioners, a 4x4 truck and a good number of other luxury items. Parents Jill and Tony Lewis emigrated to Australia from the UK...
28 May at 6 PM 2018

British expats protest funding of bullfight with taxpayers money

British expats in Malaga took part in an anti-bullfighting protest after they’d discovered the event had been funded by taxpayers’ money. Organised by the Malaga Animal Save group, the matador training event took place last Saturday at Coin’s Plaza de Toros. At the same time, a 1,300 strong petition was set up by a local Spanish resident, demanding Coin town hall reimburse the cash spent on financing the event. Just five expats joined the demonstration, but feeling amongst local expat residents is running high as several...
18 May at 6 PM 2018

Avoiding scams whilst checking out popular expat destinations

Would-be expats spending time off in their chosen destination before the actual move should watch out for the tourist traps they’ll encounter regularly once they’re residents in the region. Unless you’re relocating due to your job, visiting your chosen destination several times before you leave your home country and dive into expat life is an essential part of the emigration process. It enables you to view the region as a resident rather than just a tourist as well as familiarising yourself with what to avoid as well as what to...
11 May at 6 PM 2018

Pension transfer fraudster with 800 victims convicted for second time

A previously convicted pension fraudster has been rearrested and sentenced again for running a pension transfer scam. Simon Colfer,had been convicted and jailed for theft, forgery, fraud and obtaining money by deception at an earlier date, but after his release in 2010 he fronted Fortitude Trading under the false name Simon Davies in order to cover up his past history. His previous conviction had resulted in his being declared bankrupt and subject under the Proceeds of Crime Act to a £1.7 million confiscation order. However, the...
3 May at 6 PM 2018

New study predicts devastating Brexit effect on NHS

A new study involving 68 NHS hospitals and care institutions warns the uncertainty over Brexit is already having a serious effect on NHS services, and could further wreck Britain’s healthcare strategy due to a severe lack of qualified staff. Almost half of the healthcare institutions which took part in the survey have already changed their recruitment strategies due to Brexit, with over a third saying the continuing uncertainty makes it impossible to project the final cost to the NHS of the leave vote. The NHS employs a total of...