Expat Money News

Latest 10 news items tagged Money

2 Dec at 6 PM 2016

Survey shows high number of expats call UAE their home

A new survey indicates that the vast majority of expats living and working in the UAE are proud to call the region home. From career opportunities through cultural diversity to feelings of safety and security, the UAE would seem to offer an unparalleled life experience for expats. Recently released results of a survey conducted by Xpress Money have revealed expatriates are satisfied with almost every aspect of their lives in the region. Out of the total of respondents, 70 per cent said they’d moved to the UAE to take advantage...
1 Dec at 6 PM 2016

UK expats shock at worldwide Marks and Spencer closures

Following the UK company’s decision to close its stores in China due to lack of demand, the quintessentially British retailer has now announced it will close100 stores in Europe. Known as a link with home for Brit expat shoppers, M&S has seemingly overreached itself with its huge expansion in Europe as well as its 10 stores in China. Once famed for its good quality, reasonably priced fashions and home décor goods, its UK sales figures and profits have been declining during recent years, although its website accounts for around...
28 Nov at 6 PM 2016

Expat investors warned against Uber boiler room fraud

The latest investment fraud warning to expats in New Zealand, Australia and South East Asia involves two fake companies with misleading websites. Expatriates retiring, living and working in Asia Pacific countries are the latest to be targeted by British boiler room fraudsters located in Bangkok, Manila and Cebu. According to an online investigative journalist, two websites pretending to be based in Oregon and New York are, in fact, no more than fronts for the boiler room scams. The scammers are reported as promoting the online...
24 Nov at 6 PM 2016

QROPS rules for British expats to tighten next year

New UK Chancellor Philip Hammond’s budget speech yesterday indicated the eligibility rules for the Qualified Recognised Overseas Pension Schemes are about to become tougher. British expats are being warned that Hammond’s budget includes a plan to tighten up on eligibility rules for QROPS, starting April 6 next year. The devil, apparently, is in the details of an add-on clause in Treasury documents presented yesterday to the British parliament by Hammond. Unsurprisingly, policy advice set up in Para 4.21 Page 38 of the...
22 Nov at 6 PM 2016

Divorcing expats QROPS cash ruled safe from UK law

Divorced British expats may be relieved to learn their QROPS pension scheme cash is safe from being split up according to UK law. Retiring overseas as a married couple doesn’t always turn out as planned, with divorce not uncommon amongst expats. Making adjustments not only to life as retirees but also to an unfamiliar culture and environment can put unbearable strains on less than stable relationships, as can the temptation to succumb to younger, more attractive charms. A recent UK family court judgement settled once and for all...
22 Nov at 6 PM 2016

Financial advisers told to mind their language

If there’s one thing which leads to wrong decisions by retiree investors in expat finance and pensions, it’s the language used by their advisors. Many expat retirees are totally inexperienced as regards the terminology of money management and investment, a lack which has led a large number to lose a large chunk of their pension savings simply by believing what they were told as regards annual returns. Since the introduction of the so-called ‘pension freedoms’ last year, the problem has worsened, especially in expat retirement...
18 Nov at 6 PM 2016

Kuwait to tax expat remittances and companies

New reforms due to be presented to the Kuwaiti government are reputed to include taxing expat remittances and foreign companies, privatisation and other austerity measures. According to local media, the government is fully aware the new measures will attract protests and strong opposition from businesses, expats and others affected by the changes. The reforms will be presented to the emirate’s new government when it convenes later this month. High on the list will be privatisation of the healthcare and education sectors, with...
9 Nov at 6 PM 2016

Options for stunned US citizens after the Trump victory

Prior to election day itself, social media and expat forums were loaded with US citizens determined to emigrate should Trump win. Now that the hopefully impossible is stark reality, many of those who were contemplating deserting the sinking ship are now rushing for just about any lifeboat in any friendly, non-Trumped country. A quick trawl through recent surveys brings up 10 escape-hatch countries already popular with US expats. It doesn’t matter whether you’re seeking a job, thinking of a start-up or even retiring, there are a...
8 Nov at 6 PM 2016

What motivates US expats to get involved in charity work

Of all the nationalities whose expats settle on distant shores, the Americans are the most likely to volunteer for charitable concerns. Given that the USA scores high on the list of World Giving, it’s no surprise that a favourite occupation of Americans overseas is volunteering. What is surprising is that charitable work quickly becomes an essential part of US expat life, and they’re also very good at it. Various theories exist as to why the average USA expat is more attracted to doing good than expats from most other Western...
2 Nov at 6 PM 2016

HMRC warns returning expats over tax evasion

As well as being one of FATCA’s most important signatories, the UK taxman is now forcing tax havens and other overseas financial hubs to swap banking and investing information on expat accounts. Hundreds of thousands of returning expats who are keeping money and assets offshore are expected to receive letters from the British tax authorities, as are expats considered to be taxpayers in the UK whilst on assignments overseas. The letters will explain that more than 100 overseas tax authorities are now swapping information with HMRC...