Expat Money News
Latest 10 news items tagged Money
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...
20 Oct at 6 PM 2014
A gang of fraudsters who targeted UK pensioners living along Spain’s Costa del Sol in a coloured diamond scams are now all behind bars.
The gang of six, masterminded by Liverpudlian Adam Simmonds, operated a boiler room–style scam in the retirement hotspot of Marbella, hitting on unwary pensioners with offers of ‘rare’ coloured gemstones at hugely inflated prices. The pracitcally valueless diamonds were touted as an investment through the gang’s company, No 1 Gemstones.
Thousands of retiree Brits were cold-called with the...
17 Oct at 6 PM 2014
An expat survey conducted amongst new arrivals by the Bank of Canada emphasises that, wherever you decide to settle, getting money
matters straight is essential.
Although the survey focuses on Canada, its conclusions hold true in all expat destinations worldwide. New arrivals face similar financial challenges wherever they decide to live, and simple mistakes can ruin lifestyles and cause huge losses.
Factoring in expenses such as the actual cost of the move itself or transporting pets as well as people often aren’t taken into...
15 Oct at 10 AM 2014
Although the Gulf States have traditionally attracted the majority of expat professionals due to generous bonuses, Europe is set to take over the rewards crown.
Today’s expanding Western-based bonus culture is the result of a recovery from the devastating effects on international companies of the 2008 financial crash. The tightening of corporate belts and the disappearance of many investors meant bonuses were drastically cut or disappeared altogether.
Recent research has shown that Europe is likely to be the first world region...
14 Oct at 6 PM 2014
In a bid to attract expats away from neighbouring Spain, Portugal is offering a new tax exemption scheme eliminating double taxation of any income from overseas.
The new tax deal means that all income from overseas sources, including pension payments, will not now be subject to double taxation for at least 10 years. The scheme will apply to new arrivals who have not been resident in the country during the previous five years, although top-level professionals such as engineers, professors and technicians working within Portugal will be...
24 Sep at 6 PM 2014
Two British expats who’ve probably forgotten they’d bought Premium Bonds are sitting on a major windfall totalling £150,000.
The UK’s Premium Bond scheme encouraged millions of post-war Britons to buy its shares at £1 each and take part in its monthly draws. Many savers won small or larger prizes over the years until the National Lottery and the later Euro lotteries began offering huge prizes not linked to savings.
One of the two unclaimed prizes is due to a woman holding six bonds who emigrated to Australia and...
19 Sep at 6 PM 2014
According to the UK government’s Money
Advice Service, most investors and pension savers have difficulties understanding financial jargon.
Almost 90 per cent of those surveyed admitted they didn’t read the small print before signing up to investments or funds. Worse still, the majority had no understanding of the acronyms used by financial advisors when selling an investment.
Over the years, failure to grasp the real meaning of simple financial terminology has had devastating effects on many investors’ life savings, with...
16 Sep at 6 PM 2014
It’s not just the combination of weather, lifestyle and lower cost of living that appeals to disenchanted Brits, it’s also that the majority of their expat neighbours are loving thier new lives as well..
Estimates reveal that at least 5.5 million UK expats have given up on their home country’s ever-worsening weather, soaring taxes and household bills, disintegrating environment and lack of career opportunities. Scattered across the world in a variety of countries, most have taken a step into the unknown and most, it seems, are...
11 Sep at 6 PM 2014
Many would-be expats may be missing out on international value-for-money
private heathcare insurance by simply signing a leaver option on their existing package when they retire.
The majority of Western heathcare policies, including those which involve employer contributions, allow retirees to carry on with the same cover by simply signing a leaver option form. According to professional associations in the sector, those wishing to retire overseas may be missing out on cheaper but equally relevant deals.
Shopping around is...
9 Sep at 6 PM 2014
The liquidators of a sector of the Isle of Man-based Louis Group have revealed that millions of pounds sterling are missing from the accounts of the disgraced financial firm.
In yet another disastrous indication that the casino culture is alive and well in expat financial jurisdictions, the collapse of the company has resulted in losses to investors of at least £60 million. Just £10 million is left to be shared amongst the 700 people duped, many of whom are UK expats.
Most investors put in between 10 and 30 thousand pounds...