Expat Money News

Latest 10 news items tagged Money

12 Dec at 6 PM 2017

Luxembourg Home from Home is foodie heaven for homesick British expats

A pair of former City of London brokers in Luxembourg are cashing in on the expected influx of moneyed financiers by provided the best of Britain’s favourite comfort foods. John Hefferman and his business partner Mark Hollis saw a gap in the Luxembourg food market and filled it fast with a specialist store selling British favourites to homesick expat professionals relocating as a result of Brexit. The pair even named their shop ‘Home from Home’, and stocked it with traditional British favourites such as Yorkshire Tea, Marmite...
4 Dec at 6 PM 2017

UK to tell EU it needs to stay in aviation safety body

In a slightly desperate move to keep UK-based airlines in the sky post-Brexit, UK negotiators have told the EU Britain needs to stay in the EU aviation safety body. The message will be given to EU negotiators Monday, and follows intense pressure from both European and UK-based airlines as well as from the US Federal Aviation Authority. The FAA recently informed Britain it only has a few weeks during which to provide a legal structure for aviation safety acceptable to US inspectors’ checks. Reassurances have been given to aeronautical...
4 Dec at 6 PM 2017

UK lawmakers urge both Brexit teams to ringfence expat rights

Parliament’s Select Committee on Exiting the EU is urging both sides of the negotiating teams to agree the rights of EU and UK expats should be ring-fenced. The select committee sees no reason why expat rights should be dependent on agreements concerning the Irish border or financial issues. Its position at this stage of the game is that, quite simply, the agreement on peoples’ lives should be kept separate from cross-border political infighting on other issues. Rights should be granted in perpetuity, leaving the myriad of other...
30 Nov at 6 PM 2017

Plunging pound angers Brit retirees on frozen pensions

More than half a million UK expat pensioners are suffering from the effect of the plunging pound on their frozen state pensions. UK expats living in EU member states were told in September their state pensions would still be upgraded annually as per the ‘triple lock’ rule. The agreement covers British pensioners remaining in the EU post–Brexit a well as those in the European Economic Area and Switzerland, but no mention was made and no reprieve was given to the half a million and more pensioners living overseas. For several...
29 Nov at 6 PM 2017

UK expats still taking advantage of sinking sterling to purchase UK property

Expats on assignments in the UAE are still taking advantage of the shrinking pound by investing in UK property. New research indicates both foreign nationals and UK expats working in the UAE are snapping up British real estate whilst sterling is at a low point. Outside London, its suburbs and its fashionable outer rim, property prices are falling due to low demand by British residents, leaving bargains to be had in the buy-to-let and second home markets. During 2017, the majority of buyers concentrated on properties in the...
28 Nov at 6 PM 2017

EU expats in UK off the hook as regards rights to remain

The British government has finally outlined the measures by which EU expats may apply for settled status when Brexit is finalised. The statement from the government went as far as to promise expats will not be rejected due to minor technicalities and even said the vast majority of EU expats who wish to stay in the UK will be granted leave to do so. The announcement comes after many months of rumours, denials and flat-out refusals to keep EU expats informed of their rights, and the deal also includes statutory rights of appeal for all...
28 Nov at 6 PM 2017

Retirees warned over online IFA directories crammed with bogus advisors

A respected consumer watchdog’s survey of financial advisor directory websites has revealed many are listing unqualified, bogus IFAs. An investigation by the magazine Which's Money section has resulted in warnings to expats and UK residents not to take for granted qualifications listed on online financial portals. The watchdog scrutinised several advisor directory sites with listings of IFA firms, including Unbiased, the Money Advice Service and Vouched For, with shocking results. The Unbiased website, which matches clients with...
27 Nov at 6 PM 2017

Brit owner of bar hit by Irma is determined to rebuild

A British expat and his family living and working on St Martin when Hurricane Irma struck are determined to rebuild their popular Honky-Tonk Bar. Born in the Lancashire town of Bury, Simon Healey swapped the rainy northern town for the sunny Caribbean island when he was just 23 years old. Some 14 years later, he’d married, had children and was the proprietor of one of the island’s most popular bars. His expat dream was shattered when Hurricane Irma made landfall on the island, flattening thousands of homes, destroying the...
14 Nov at 6 PM 2017

Teaching your expat kids to become money wise

Expats on assignments with their families are in the perfect position to teach their young ones the importance of becoming familiar with the need to save and manage money. Expatriates working in countries where high salaries and affluent lifestyles are the norm should first teach their children not to take large amounts of ready cash for granted. Early lessons can be based on the link between earning and spending simply by asking your kids to de a simple job before handing out the week’s pocket money. Tasks around the home, such as...
13 Nov at 6 PM 2017

Kuwait residents and expats evacuate as strong Iraq earthquake shakes buildings

Last night, a 7.3 magnitude earthquake struck Iraq, with tremors in Kuwait forcing panicking residents and expats onto the streets. The huge earthquake hit large areas of Iraq, including Baghdad, and was centred around Halabja on the country’s border with Iran. Shocks were felt in Kuwait, sending frightened residents onto the streets as building swayed and the ground shook. Aftershocks were expected, although at present little damage appears to have been done to buildings in the emirate and no injuries or fatalities have been...