Expat Money News

Latest 10 news items tagged Money

18 Apr at 6 PM 2018

Kuwatization to axe thousands of expat private sector jobs

Kuwait’s Civil Service Commission is planning to freeze thousands of expat contracts by 1 July. Kuwatization is taking a new turn as the emirate’s Civil Service Commission is planning to freeze over three thousand expat contracts and shelve them at the beginning of July this year. The move, a significant part of Kuwaitization, is intended to open up formerly expat jobs to Kuwaiti nationals, thus reducing the totals of foreigners working in the emirate. At the present time, the expatriate population makes up 70 per cent of the...
18 Apr at 6 PM 2018

Spanish Banco Sabadell refuses storm damage insurance payment to Brit pensioner

A British pensioner living in Malaga’s Alhaurin el Grande has been refused an insurance payment for her storm-damaged gate. British expats moving to Mediterranean retirement hubs are often concerned about the reputations of European insurance companies, whether for health, home coverage or life insurance. There’s the language problem to be dealt with, and making a claim is often a nightmare for elderly expats. Even using insurers linked to or recommended by a local bank can go wrong, as 80-year old Sylvia Rush found when her gates...
9 Apr at 6 PM 2018

Happy ending for Vietnamese rescue dog lost for a week at Paris airport

One of the worst fears for expats relocating with their beloved dogs is that something will go wrong during flight transfers. Nowadays, it’s far more common than in the past for relocating expats to bring their dogs with them, but it’s a scary time both for the pets and their owners. One of the most-asked questions of pet transportation companies’ employees concerns transfers between flights, with owners terrified their dogs will be put on the wrong plane or even lost. Almost all dogs reach their destinations safely, but when...
5 Apr at 6 PM 2018

US expats get more time to comply with hated transition tax

In a move designed to help US expats overseas comply with the onerous Trump transition tax requirements, the US Treasury has put the deadline back by two months. The news is being welcomed by US expat business owners across the world, but protest groups are still criticising the flawed nature of the tax as it applies to expats with stakes in businesses overseas. The campaign to eliminate the potentially damaging new law is to continue, and is being supported by cross-political American expat organisations. Following yesterday’s...
4 Apr at 6 PM 2018

Kuwait lawmakers pass expat remittance tax

Kuwaiti lawmakers in committee have passed the controversial expat remittance tax. In spite of warnings about its effect on the economy by the emirate’s central bank, a committee of lawmakers has approved the controversial expat tax on remittances outside the country. According to local media, the bill is expected to encourage expats to spend more money within Kuwait rather than sending it to their families in their home countries. The vote, taken by the emirate’s financial and economic committee, was four to one in favour of...
4 Apr at 6 PM 2018

The reality of being an expat in a strange land

Many long-term expats become so fond of their adopted country they’re happy to stay for the rest of their lives – but what if they’re forced to leave? Whether expatriation is for work reasons or because you’re no longer in tune with the country of your birth’s direction in this changing world, settling down in your adopted country can lead to your wanting to stay for the remainder of your life. For many expats over the years, staying for ever has been easy, but permanent residence isn’t granted as often as before, and...
3 Apr at 6 PM 2018

Expat financial independence winning out over risky IFA advice

Following the seemingly endless media reports of dodgy IFAs, Ponzi schemes and fraudulent cold-calling financial scammers, the new buzzword in the worldwide expat community is financial independence. The online Financial Independence world, usually referred to simply as FI, contains many bloggers describing their own experiences and passing on tips to those who’ve had enough of being cash cows for unscrupulous IFAs at best and downright fraudsters at worst. One Dubai-based expat founder of a non-profit community entitled SimplyFI...
2 Apr at 6 PM 2018

Expats in Spain warned about Airbnb rental apartment scam

Expats and travellers are being warned about yet another Airbnb property rental scam focusing on Spain. Non-existent properties purporting to be on rental booking site Airbnb are being used to con expats looking online for Spanish accommodation. One luxurious central Estepona property discovered on popular e-commerce website Milanuncios during a media-led investigation seemed too good to be true for the price offered, and proved to be so as a result of the investigation. When contacted, the scammer asked for two months’ payment...
30 Mar at 6 PM 2018

Expat oligarchs in London risk being targeted after Skripal attack

For decades, London has been the refuge of choice for Russian oligarchs and their less than monstrously wealthy expat counterparts. Since the collapse of the Soviet Union, extraordinarily financially secure Russian citizens have used London as a safe refuge both for themselves and their money, with the diaspora hotting up over the past decade to include even middle-class Russians. Their 21st century lifestyle in the British capital bears no resemblance to that of the small, longstanding Russian community originally based around...
26 Mar at 6 PM 2018

Relocating expats fear losing their possessions in container ship collision

Expat families relocating back to the UK fear they’ve lost all their household and personal belongings after a container ship collision. Following a cargo ship crash just outside a Pakistan cargo terminal during which some 20 containers fell overboard, 10 expat families returning from the UAE to the UK now fear their personal belongings may all be lost. The Tolten container ship, en route from Dubai to Felixstowe in the UK and owned and operated by Hapag-Lloyd, collided with another vessel during docking manoeuvres at the South East...