Expat Money News
Latest 10 news items tagged Money
23 Nov at 2 PM 2014
We're thrilled to announce that Lisa Sadlier, winner of our Education and Integration Schools blogging competition, has just had her first book published. Congrats Lisa! So if you are thinking about moving to Spain with with your kids, check out "Moving to Spain with children" and, once you're there, start blogging and join our thriving community!
<h3>Moving to Spain with Children, by Lisa Sadleir.</h3>
If you search online you will find a multitude of books about Spain; books set in spain; books about: moving...
14 Nov at 2 PM 2014
The UK’s Department of Health has warned Spanish-based expats that they have to properly register with authorities in the country to make sure they have full protection in the state healthcare system.
“Moving to Spain? Think about Healthcare!” is the <a href="https://www.gov.uk/government/world-location-news/think-healthcare-when-moving-to-spain-or-it-could-cost-you-time-worry-and-money
-warns-new-video">new video</a> produced by the department. The video, which informs would be expats that the process can...
10 Nov at 6 PM 2014
For decades, tropical Thailand has been a retirement haven for UK expats for its cheap cost of living and year-round sunshine, but buying a condo has always been a risky business.
It’s not just the government rules on the purchase of property by foreigners which can ruin the dream, it’s the continuing off-plan property scams perpetrated by dishonest expat developers. The latest to emerge involves a condo block in Pattaya’s Jomtien district – or it would be in Jomtien if it had been built!
More than 100 would-be expats have...
4 Nov at 6 PM 2014
Scammed retirement savers whose cash was lost in the Harlequin property crash are now facing up to ten years’ continuing charges by their pension providers.
Affected investors who were persuaded to take out QROPS and SIPPS-wrapped products have not only lost every penny of their savings, but are being charged £500 per annum by the pension providers themselves. Ostensibly referred to as management charges, the totals taken by providers will add some £17 million to the estimated losses.
Thousands of pension savers are affected,...
31 Oct at 6 PM 2014
Tens of thousands of former Standard Life customers have been missing out on a share of the huge cash pile distributed by the company when it went public eight years ago.
The former mutual insurance and pensions company has tracked down the vast majority of the 2.5 million customers who were entitled to a part of its massive multimillion payout in 2006. However, 73,000 are still untraceable, with Standard Life believing that many are expats who didn’t inform the firm of their change of address.
The average amount due to each of...
29 Oct at 6 PM 2014
Swiss banks are being hounded by the US Justice Department to reveal all details of USA citizens’ secret accounts. Prosecutions as well as FATCA are being used to force traditionally private Swiss banks to give up the full details of money
in accounts held by expats attempting to avoid paying tax in their home country.
Switzerland was one of the last countries to sign up for the controversial US Foreign Account Tax Compliance Act. Credit Suisse and USB were the first banks to be hit by billions in fines for not revealing the full...
27 Oct at 6 PM 2014
According to financial experts, estimates of life expectancy are of no use in cashflow modelling as the calculations might result in the loss of all capital before retirement.
In an address given at the annual conference of the Institute of Financial Planning, Steve Groves warned his audience that statistics on life expectancy proved that using them for cashflow modelling can cause clients to run out of money
well before they die. Graves, CEO of Partnership, explained that an average life expectancy for a 65-year old male is 86.5...
24 Oct at 6 PM 2014
One of the most trying aspects of living overseas is currency transfer between your home country or offshore bank account and your account in your host country.
Whether you’re retiring overseas, working for a company which pays salaries from the UK, freelancing, or just touring around the places you’ve always wanted to see before you make a decision about permanent residence, the stress and expense of currency transactions is often a negative experience. However, new technologies and several innovative start-ups are about to...
23 Oct at 6 PM 2014
Following on from reports of vastly increased numbers of financial scams in Europe, the Gulf States and Asia, today’s warning to citizens and expats by the Kiwi Financial Markets Authority (FMA) comes as no big surprise.
Expats across the world are now being ripped off via an unprecedented number of financial fraudsters lurking in expat communities. The majority of those targeted are older expats and retirees, and pension pots and life savings are more at risk than ever before.
The FMA’s action comes as a result of an...
22 Oct at 6 PM 2014
The results of a recent survey prove that increasing numbers of pension liberation crooks are operating onshore and offshore, defrauding retirees confused about the new pension rules.
The research, undertaken by financial firm Fidelity, revealed that 66 per cent of retirement savers are still uncertain about their rights under the new legislation. In spite of massive publicity since the April budget announcement, understanding of the ‘over 55’ rule is still causing problems and leaving savers at risk from scammers and massive tax...