Expat Money News

Latest 10 news items tagged Money

27 Apr at 9 AM 2016

UK expats down under lure traditional British stores

Expat nostalgia, at least for certain retail aspects of the home country, is alive and kicking in Australia, resulting in several traditional British favourites launching online stores. British expats, wherever in the world they settle, seem to be unable to dislodge their fond memories of traditional British retail outlets and foods. It’s not just fish ‘n chips, pints of bitter and Marks and Spencers’ underwear they’re missing, it’s the huge department stores beloved by generations of English shoppers. Since the world...
25 Apr at 6 PM 2016

Barclays Bank to finally close its Gibraltar operations

After 125 years’ service to expats and residents on Britain’s overseas territory Rock of Gibraltar, Barclays Bank is finally shutting its doors and departing. A strategic review of the bank’s operations in Gibraltar took place in 2014, sounding the death knell for over a century of providing financial services to residents and expats on the Rock. Since then, a skeleton staff of 14 permanent employees and two contracted workers has focused operations on the bank’s local high net worth clients and large businesses. All staff...
21 Apr at 6 PM 2016

Dos and donts of a stress free expat life

The dream of a different lifestyle draws thousands of expats to foreign locations every year, but planning and research are essential to prevent the adventure turning into a nightmare. In today’s exceptionally mobile world, upping sticks and heading off into the wide blue yonder is a reality rather than just a dream for many. Expat life, especially in retirement, can be infinitely more enjoyable than staying forever in over-familiar surroundings. However, without a clear head, extensive research and planning ahead, the dream can...
11 Apr at 6 PM 2016

FCA pension scam crackdown relevant for expat investors

Britain’s financial regulator has announced its main priority for 2016/17 is a crackdown on pension-related investment scams. Although the Financial Conduct Agency has no jurisdiction outside the UK, its prioritising of pension scams gives valuable information both to UK citizens looking to retire overseas and those already abroad. It’s well-known that unregistered pension scammers operating illegally online from bases in the UK are targeting elderly expats overseas as well as in Britain. The FCA’s announcement of its...
6 Apr at 6 PM 2016

Expat wives worst nightmare in Southeast Asia

Of all the fears and uncertainties felt by expat wives whose husbands have dragged them to relocation in South-East Asia, the worst is losing their man to a local slant-eyed beauty. All the major Southeast Asian cities have a reputation as sex central, with their red-light districts a hotbed of girly bars, prostitution and fleshpots offering everything a Western man could possibly desire. Add to this the undisputable fact that Asian women are mostly beautiful and seem submissive, and it’s no wonder that Western wives panic when...
28 Mar at 6 PM 2016

US expat investors thrown out of American brokerages

Following the lead of a number of USA-based banks, American brokerage firms are busily ridding themselves of their US expat clients. Nowadays, American investors living overseas are steadily being cut off by USA-based financial services, leaving them at the mercy of greedy offshore bond retailers. Even worse, many are at risk of falling foul of the unregistered, illegally working IFAs lurking in many favourite expat havens. The reason behind this rash of expat exclusion is, of course, FATCA. Following the introduction of FATCA in...
16 Mar at 6 PM 2016

Aussie expats in USA bemused by election process

As America ramps up to yet another Presidential election, Australian expats are astonished at both the length of the campaign and the behaviour of would–be Republican candidate Donald Trump. One Melbourne software engineer now living in California with his wife and daughter is becoming obsessed with the endless coverage of the primaries and scared stiff at the prospect of Donald Trump heading up the world’s largest economy. He admits to being passionate about the outcome, and is following the entire news cycle as it unfolds. He’s...
9 Mar at 6 PM 2016

British expat to lose Spanish home to banking scam

A British pensioner living in the Costa del Sol is about to be forced out of her dream retirement home after falling foul of an equity release scam operated on behalf of the Icelandic bank Landsbanki. Due to a decade of coverage in online and offline media reducing the risk of being scammed, the presence in popular overseas retirement havens of unscrupulous financial advisors is now well-known and understood. However, in 2005, commission-hungry so-called IFAs had the field to themselves and many unsuspecting expats were caught in their...
8 Sep at 9 AM 2015

Austrian expat found dead in Thailand

An Austrian expat has been found dead on the Thai resort island of Phuket, with early reports stating that he had been suffering from drinking and gambling problems. Walter Edhofer, 53, lwas discovered by neighbours in Kathu early on Monday morning, confirmed Thai police. He had left a voice message on hos phone explaining that he had not saved enough money to extend his visa in the country. His son, Chris, translated the message, telling police that his father had amassed debts and was unemployed. Edhofer, who previously worked in...
7 Aug at 12 PM 2015

UAE: Indian and Pakistani expats make up a third of population in 3 emirates

Expats from Indian and Pakistan make up 37 per cent of the total population in the emirates of Dubai, Ajman and Sharjah, according to the latest statistics from market intelligence company Euromonitor International. With the combined populations of the three emirates, Indians make up 25 per cent, Pakistanis 12 per cent, Emiratis nine per cent, Bangladeshis seven per cent and Filipinos five per cent. Euromonitor International research manager Nikola Kosutic noted that the high number of expats from India and Pakistan could be...