Expat Money News

Latest 10 news items tagged Money

25 Apr at 6 PM 2017

How to avoid common expat financial mistakes

Wherever in the world you’re planning to go and whatever your financial status, there are common money-related mistakes made by almost all expats when they move overseas. Obvious financial must-haves and must-do’s aren’t included here, as most expats are aware of the need to save as well as spend, plan for retirement and allow for unlooked for medical emergencies by having private insurance. Unfortunately, ignoring the less obvious errors of judgement can easily lead to money problems for even the most careful expatriate....
24 Apr at 6 PM 2017

Boarding schools versus international schools for expat children in UAE

Gone are the days when almost all expat professionals working in the UAE sent their children to overseas boarding schools, but are the emirate’s international schools a better and cheaper option? Although boarding schools are no longer a necessity for expat parents wanting the best education for their kids, it’s a fact that one attraction of an overseas education is the freedom it gives to its students and their parents compared with the restrictions of living in the UAE. Surprisingly, a UK boarding school education can also give...
18 Apr at 6 PM 2017

Spain loses position as Brit retirement haven due to Brexit

A new study has revealed that Spain, traditionally the favourite retirement hub for British expats, is now losing out thanks to the Brexit vote. The survey, conducted by Anchor, a retirement care and housing provider, is bad news for Spain, once the most attractive destination for many thousands of British retirees. Almost half the retirees who took part in the study said they were ‘unlikely’ to make the move to Spain, whilst the 41 per cent who had already decided to become expatriates in Spain, France and other EU member states...
17 Apr at 6 PM 2017

Expats in Oman get bargain rentals due to oversupply and falling demand

The rental market in Oman, reeling due to Omanization, the shrinking economy and expat departures, is now the scene of manipulation by wily expats looking to save on rental charges. The plot is simple and involves swapping their accommodation for a similar but cheaper home in the same enclave or street. According to a major real estate consultancy, expatriate tenants looking for residential or commercial properties now have the upper hand as regards negotiating the terms and costs of leases, and local estate agents are in complete...
13 Apr at 6 PM 2017

SIPPS advantages over QROPS for UK expats

Whilst QROPS have been seen as the answer for expats of pensionable age, numbers of retirement savers shifting their money to a self-invested personal pension (SIPPS) have soared since pension freedom was introduced. The numbers of retirement savers choosing a SIPPS has doubled since the start of pension freedoms, with some 43 per cent of fund movements on behalf of 90 of the UK’s pension companies heading into SIPPS. Previously, only one in five transfers involved SIPPS and in 2017 one third of all transfers to SIPPS were from...
11 Apr at 6 PM 2017

British expat landlords to be outed in public identity registers

As part of a proposed attack on money laundering by means of UK property purchase, UK expat buy-to-let landlords working through offshore companies are to be included in a public register showing full names and details. British business minister Margot James is proposing the scheme as a means to identify money launderers using property purchase companies to hide the fruits of their crimes. Should the proposal be adopted, the resulting register will be the world’s first to list beneficial owners of overseas companies. The rule would...
10 Apr at 6 PM 2017

Expat buy to let landlords to face increased tax bills this year

This month's start of the current tax year sees unwelcome changes in tax relief and profit calculations for UK expat buy-to-let landlords. Expat property investors are now being hit by the same changes as UK resident landlords, beginning with the controversial ending of mortgage interest tax relief in spite of several attempts to have the new rule reversed. This is the major change, fought against unsuccessfully right up to the High Court on the premise that it would infinge landlords' human rights. In addition, the manner in which...
7 Apr at 6 PM 2017

Thailand offers pricey Elite Visa to disenchanted British Brexit remoaners

A charm offensive by Thailand’s tourism supremos is aimed at wealthy Britons feeling disenchanted by the prospect of Brexit Britain. On offer is the Thailand Elite ‘exclusive’ long-stay visa scheme, run by a government-owned agency hoping to lure UK expats to try their luck in the Southeast Asian country rather than enduring two years of uncertainty and insecurity in their present EU member state homes. Also targeted are Brexit remoaners looking to avoid the consequences of a hard Brexit by packing up and leaving. In its...
6 Apr at 6 PM 2017

Smart Dubai announces new Dubai Careers website for expat and local job seekers

A new central employment portal aimed at expats as well as citizens is now available online, connecting job seekers in all sectors with employers. The Dubai Careers portal, developed by Smart Dubai, enables job seekers at all levels to find work in line with their qualifications and professional experience, according to officials at yesterday’s press release. The innovative platform uses smart tools to make searches easier, and the present access to literally hundreds of jobs in Dubai government entities will be expanded to include...
6 Apr at 6 PM 2017

New UAE UK treaty allows expats tax free transfers from pension savings schemes

A new double tax treaty (DTA) between the UK and the UAE aimed at personal tax matters is now in force, and may result in big savings for expats with pension savings funds. The DTA treaty applies to UAE-resident British expats over the age of 55, allowing them to withdraw their full pension funds on a tax free basis, although certain circumstances will apply. It’s hoped the new law will prevent UK expat induviduals and businesses from being taxed twice on earnings as well as freeing up labour movements and building closer trading...