Expat Money News

Latest 10 news items tagged Money

15 Aug at 6 PM 2017

Bali expats plan ultra marathon to fund kids education

Seven disadvantaged Balinese children will be the beneficiaries of an 84km coast-to-coast fundraiser marathon organised by two expat runners. Briton Tom Hickman and his Russian running mate have lived on Bali for several years, enjoying the lifestyle and running regularly as a hobby. Hickman told local media the idea of the marathon was born when the pair decided to give something back to the locals who’d been part of their amazing Balinese experience. The fundraising event will start at the northeastern coastal town of Tejakula and...
15 Aug at 6 PM 2017

Expat landlords at risk of property pension shortfall

Tax changes are putting expat landlords at risk of falling profits on UK property investments. As many as two million property investors, a good number of whom are expatriates, are at risk of a shortfall in rental profits due to tax changes. According to the National Landlords’ Association, a new method of calculating mortgage interest is discounting tax relief, leading to reduced profits on property investments and shortfalls on retirement incomes. Almost 80 per cent of landlords are utilising buy-to-let property investments to...
10 Aug at 6 PM 2017

Stay or Go is UK retiree dilemma

EU member states and Spain in particular are still on the retirement agenda for UK would-be expats. Britons coming up on retirement are still favouring European destinations in spite of the uncertainty surrounding the final outcome of the Brexit negotiations. A recent survey has revealed one in every 10 UK citizens over 50 years of age is still considering retiring abroad, with Spain topping the favourites list again. As usual, reasons for leaving include the British weather, a more relaxed lifestyle and cheaper costs of living....
8 Aug at 6 PM 2017

Expat international money transfers made easy

Wherever you’re working as an expat and however much you’re earning, you might need to transfer money back home. If you’re working overseas and supporting your family back in the home country, you’ll need to be able to make regular transfers without their costing you a fortune. The same goes for mortgage payments and savings accounts in your own currency. Currency transfer is very big business for international banks, with transfers from overseas to the UK totalling around a massive four billion sterling in 2015, much of which...
8 Aug at 6 PM 2017

Number of US expats renouncing citizenship is soaring

In the first half of this year, over 3,000 UK expats cancelled their citizenship, an increase on the entire number in 2016. Last year, just 2,999 Americans abroad gave up on their country and renounced their citizenship. During the first two quarters of 2017, 3,000 more followed, indicating that increasing numbers of American expats are sick to death of being treated as double-tax cash cows by the IRS. The federal crackdown on so-called tax evasion has hit hard on US expats living and working overseas, with many banks now refusing to...
8 Aug at 6 PM 2017

Pension scams still a major concern for elderly expats

A new report reveals some five million older Britons have been approached by pension scammers, with one in every six handing over money. The shocking report, based on a survey issued by AgeUK, refers to UK-resident victims of fraudulent IFAs and so-called pension advisors, but its findings are equally relevant for UK expats living outside Britain. For almost two decades, stories of huge losses caused by mis-selling or deliberate financial fraud have surfaced wherever there’s a sizeable UK expat community. The culprits use the same...
1 Aug at 6 PM 2017

New Zealand on the up as a preferred expat destination

Traditionally, New Zealand has always welcomed large numbers of expats looking to start a new life, with British expats making up a strong percentage of its annual arrival statistics. A recent analysis of the country’s immigration data has revealed a five per cent increase in arrivals for the 12 months from June 2016. Out of the total of 131,400, leaving aside the 25 per cent comprising New Zealand citizens returning from overseas, the trend in immigration is still on the up. Australia continued to be the largest source of arrivals,...
31 Jul at 6 PM 2017

British expat pensioner gets jail time for investment fraud

Last Wednesday, a sentence of nine years in jail for conspiracy, wire fraud and money laundering was handed down to a British expat by a San Jose judge. Laurence Miles, 76, had admitted one count each of money laundering, conspiracy to commit wire fraud and the fraud itself, and was in court along with his four co-defendents. The fraudster, who’d been living in the USA since 1998, had scammed unsophisticated investors into believing he was a trustee for a high-value estate at present under a secret probate and owned by an heiress...
26 Jul at 6 PM 2017

New QROPS rulings unlikely to deter many pension savers

Many expats and would-be expats are now worried that QROPS as an efficient, tax-friendly investment option may soon be dead in the water due to recent changes. QROPs experts are rushing to clarify the recent changes to QROPS rules by Britain’s HM Revenue and Customs in order to reassure investors looking to take advantage of the best way to deal with their pension pots. Several recent reports seem to indicate the popular product is stuttering, but the reality is that around one thousand offshore pensions are still available in 29...
25 Jul at 6 PM 2017

House hunting for cheaper digs during the Dubai summer

Changing your accommodation in Dubai isn’t easy, especially if you’re cash-strapped and it’s full summer in one of the world’s hottest cities. Affordability in Dubai, one of the most expensive cities on the planet, benefits from budgeting, however much your salary and perks bring in. Rental charges can make up a significant slice of the monthly stipend, with expats who’re not expert in money management often deciding to ease the strain by finding a less expensive place to live. Unfortunately, this decision is often made...