Expat Money News

Latest 10 news items tagged Money

15 Jun at 6 PM 2016

Spanish lawyer gives hope to thousands over lost dream home deposits

Knowing your legal rights as an expat in Spain, it seems, is the first step in winning back your life savings form property scammers. Adolfo Martos, a long-standing lawyer with offices in Malaga and Marbella as well as a dedication to help scammed expats, has the core advice of how to beat the snails-paced Spanish courts. Hanging on in there and insisting on your rights, no matter how long it takes, he says, will win every time. Now the chair of the international legal group ‘TEN, The European Network’, has started a new...
14 Jun at 6 PM 2016

Brexit currency fluctuation scares dont work on expats in Cyprus

With the remain/leave debate accelerating by the hour, the latest attempt by the Remain campaign has been to focus on the falling value of post Brexit sterling. Whichever group is putting itself forward at any one point in time, one thing they both agree on is that the value of sterling will take a significant hit should the UK vote to leave the EU. Expats living across most of the 28 EU member states also realise this, and are able to work out the ramifications themselves. Let’s face it, they’ve been through enough exchange rate...
14 Jun at 6 PM 2016

Costa Rica expat retirement havens have it all

For several decades, Costa Rica has been high on the list of retirement havens from US citizens, with developments in one beachside resort likely to attract expats from other continents as well. The North Pacific coastline of Costa Rica is known as the Gold Coast for many good reasons, including wide, sandy beaches, glorious sunsets, palm trees, quaint local eateries, cosy accommodations and friendly local watering holes. Everything necessary for a heavenly retirement after decades of work up north in the USA is here. The small...
9 Jun at 6 PM 2016

Singapore expat cost of living soars over five years

A survey of relative costs of living across professional expat global relocation destinations rates Singapore 18th in the 'most expensive Asian cities' lisitng. Current rankings for Asian cities now places Singapore as the 18th most expensive city in the Asian region. Over the past five years, the city state’s cost of living has risen significantly in spite of recently lower inflation rates. The city’s global cost of living ranking has soared 12 points, mirroring the increases in the cost of living for expat professionals. ECA...
7 Jun at 6 PM 2016

US and UK governmental disregard for expat diasporas displays contempt

British and American expats contribute skills and money to many economies across the world, but seem to be regarded with contempt by their respective governments. The USA expat population stands at around 8.6 million scattered across the globe, but a recent survey revealed only seven percent believe they are fairly represented at government level in spite of being taxed on their income abroad. Although three quarters of the number are prepared to vote in the upcoming Presidential election, the vast majority represented themselves to...
7 Jun at 6 PM 2016

EU expats desert Spain due to overseas assets tax changes

Whilst many British expats living in Spain are experiencing nervous breakdowns over the possibility of a Brexit, others who’ve already left are overjoyed they don’t have to deal with Spain’s new tax laws covering overseas assets. Estimates of the number of EU and British expats who took their money elsewhere rather than be taxed on their overseas assets are now in the high thousands. The tax changes in 2015 have also resulted in a strong decline in the number of new expat arrivals. The new rules, originally aimed at Spanish...
1 Jun at 6 PM 2016

Slowdown in Gulf economies leaves expats trapped by debt

The slowdown in the economies of the Gulf has resulted in layoffs, stalled construction projects and cut-backs in expat employees, some of whom are trapped as they owe money to banks. The emirates and kingdoms making up the oil-rich Gulf region have seen revenues plunging since the dramatic downturn in oil prices began last summer. Gulf countries have no bankruptcy laws, leaving expats unexpectedly unemployed trapped inside the country until they can pay what’s owed. The majority of those affected are low-waged workers, but the...
31 May at 6 PM 2016

Crackdown on dodgy expat financial advisors gets serious

Following several years of revelations concerning fraudulent and mis-sold financial advice in a number of expat destinations overseas, crackdowns by authorities are getting serious. The recent news that Thailand’s Securities and Exchange Commission (SEC) is finally acting with police to investigate expat claims of fraud by illegally-working, unqualified IFAs caused a ripple across the country’s expat investor community. Dodgy IFAs in Bangkok, Pattaya, Phuket, Chiang Mai and other expat hangouts had been mis-selling investments...
28 May at 10 AM 2016

Expats stick with offshore banks in spite of poor rewards

A recent survey found that British expats are still making use of offshore banks rather than transferring their cash to foriegn onshore banks in overseas locations. In spite of scares such as the Icelandic bank failures and a lack of decent rates of interest on deposits, British expats living overseas seem to be sticking with their offshore banks. A survey undertaken on behalf of AES International has revealed that banking offshore is still the most popular way to go, even although the number of providers is falling fast and interest...
26 May at 6 PM 2016

International companies send increasing numbers of employees overseas

New research has revealed the growing trend amongst international companies of sending employees on overseas assignments. The study, initiated by ECA International, covered the past 20 years’ history of overseas assignments, showing that at present there are more expats working abroad than at any time in the past. Over 50 per cent of the companies taking part in the study reported increased year-on-year numbers of relocations to overseas branches. Interestingly, the statistics of increases in overseas postings didn’t change...