Expat Money News

Latest 10 news items tagged Money

23 Jun at 6 PM 2017

Expats in Qatar see leave cancelled and travel restrictions imposed

Expats living and working in Qatar are being banned form leaving the country after their agreed holiday periods were cancelled. According to expat engineers and executives working at Qatar Petroleum, the ban and cancellations began just one day after Saudi Arabia, Bahrain, the UAE and Egypt severed all links with the emirate due to its supposed support for militant groups. One British expat working at a subsidiary of state-owned Qatar Petroleum reported that he'd been told his exit permit and agreed holiday leave were...
22 Jun at 6 PM 2017

Shifting global economy good news for expat living

The oil price crash combined with increasing global nationalism over the past year has caused the global economy to shift, thus decreasing the cost of living in London and other expensive expat destinations. As a result of the global changes, the latest survey of the world’s most expensive cities has produced some surprising results indicating dramatic cuts to the cost of living in London and other major world cities. In the majority of cases, the values of local currencies have tanked against foreign currency rates, with expats...
21 Jun at 6 PM 2017

Kuwaiti doctor speaks out on blaming expats

Expats tired of being blamed for the emirate’s demographic imbalances will appreciate a recent statement protesting their innocence by a prominent Kuwaiti doctor. Honesty seems to have been the best policy for Dr Adel al Ibrahim, whose hard-hitting statement in today’s Kuwait Times tells it like it is regarding attacks on the expat community by a number of Kuwaiti politicians. The worst offender has been MP Safa al Hashem, a recently elected female member of the government who has repeatedly called for the removal of expats and,...
20 Jun at 6 PM 2017

Brexit impact on expat property owners

Brexit negotiations are now underway, but a lack of first-hand information on the UK government’s position is weighing heavily on UK expat property owners in EU member states. Divorce talks between the UK and the EU are now ongoing, with Brexit Secretary David Davis stating the UK is seeking a ‘deal like no other in history’ – whatever that may mean. The plight of EU and UK expats is expected to be top of the agenda, but the effect of Brexit, whether hard, soft or somewhere in between is anyone’s guess. Fear of the unknown...
9 Jun at 6 PM 2017

Study shows UK expat professionals happy to stay overseas

A recent study has revealed only one in every 10 British expats living overseas has any serious intention of returning to the home country. The survey’s results showed the majority of expatriate Britons had made the decision to leave due to relocation by their company or the desire to start a business overseas. No mention was made of the hundreds of thousands of retirees who left for a better quality of life in a warmer country, very few of whom, it would seem, have any intention of returning to a post-Brexit world. Respondents...
8 Jun at 6 PM 2017

Plunging pound helps reduce EU expat living costs

The UK’s cost of living for EU and other expats drawing in money from foreign accounts has fallen dramatically since the Brexit referendum. A new global cost of living survey has seen the plunging pound sterling bringing benefits for expatriates paid in foreign currencies. UK cities are now the cheapest as regards the cost of everyday living for ten years or more, dropping to 68 places lower in the global survey. Formerly placed high in the listings of the top 100 most expensive cities, London’s ranking of 132nd is an all-time low,...
8 Jun at 6 PM 2017

Expats in Spain warned about house insurance companies underhand methods

Expats in Spain are up in arms about tactics being used by house insurance firms, with some claiming the methods used to prevent clients changing companies are underhand House insurance is one priority which the majority of expats take seriously, but recent reports claim the methods used by some companies to prevent clients leaving are underhand at best. Online complaints about the problem aren’t confined to those living in Spain as it seems expats in other European countries are also affected. In Spain, insurance companies...
7 Jun at 6 PM 2017

Expats advised to wait before transferring cash to a QROPS

Expats waiting to transfer pension cash to an offshore QROPS must wait as Her Majesty’s Revenue and Customs misses yet another deadline for its new list of permitted offshore pension schemes. HMRC’s missing of their recently announced deadline will now prevent retirement savers waiting to transfer their UK pension pots to an overseas QROPS from acting as there is no current list of pensions self-certified as meeting the scheme’s rules. When pressed as to the date of a new list, an HMRC representative said there is no firm date...
7 Jun at 6 PM 2017

Expat retirement haven options shrink due to Brexit

Although the looming shadow of Brexit may well have killed retirement dreams of Mediterranean sunsets, there are still value for money destinations overseas. One thing Brexit hasn’t destroyed is adventurous British would-be expats’ dream of a retirement overseas, it’s just meant their choices of destinations may have to change. A slower pace of life combined with better weather and a reasonable cost of living can still be found, even in non-EU countries. A new study reveals the most common reason for retiring outside the UK...
30 May at 6 PM 2017

Anti FATCA fighters lobby US congress for repeal

US expats across the world will be keeping their fingers tightly crossed as a 23-group coalition lobbies Congress to repeal the despised law. Originally approved by President Obama in an effort to shut the door to US expat tax avoiders, FATCA is now a painful thorn in the sides of millions of US citizens living overseas. Admittedly, more than 10 billion dollars-worth of lost tax has been clawed back from over 100,000 taxpayers, but American expats overseas have been shut out of bank accounts and forced to spend hours of extra time...