Expat Moving News

Latest 10 news items tagged Moving

17 Apr at 6 PM 2014

Kuwait considers scrapping expat fuel subsidy and reducing electricity subsidy

Expats in Kuwait could find their petrol and electricity bills soaring if the Kuwait parliament agreed a proposal to scrap the expat fuel subsidy and cut the subsidy on electricity charges. According to a recent report, the Kuwaiti parliament is prioritising the controversial proposal for debate, amid rumours that a black market would be created should the proposal become law. Local media report that MP Faisal al Shaye, head of the emirate's finance committee, supports the proposal, saying the the subsidies are depleting government...
8 Apr at 6 PM 2014

Emerging economies are best for high wages and quality of life

As the 2014 Expat Explorer gets underway, results from the 2013 poll are showing that emerging economies give the best chance of a good expat quality of life on a more than decent wage. Last year’s survey showed that expats in Asia are the highest-paid in the world, with those in India, Indonesia, Vietnam and China receiving remuneration packages higher than the global average. China and Indonesia had the highest number of expats earning over $250,000. The survey also showed that Europe was the worst place in the developed world...
26 Mar at 6 PM 2014

Insurers fearing collapse of annuity market trap pension savers

A number of the UK’s largest insurers are refusing to give pension savers extra time to withdraw from rip-off annuity deals or even to get meaningful professional advice. Whilst a few firms are playing fair by doubling the 30-day window during which annuities can be cancelled, others are giving just a few days and many are sticking to the 30-day rule. Savers who signed up for annuities late last month now have only a few days to make an informed decision as to what’s right for their circumstances. Insurance firms, motivated by...
20 Mar at 6 PM 2014

Expat lifeline in Shanghai reports financial insecurity causes most stress

Counsellors at Lifeline Shanghai, China’s only English-speaking helpline, are reporting that worry over financial security is now a major cause of stress in the expat community. Launched in 2004, the unique charity’s majority of calls at that time concerned lonely housewives distressed by their cheating husbands. Ten years later, Shanghai’s many female expats are more concerned about money than mistresses. Programme manager Allan McDean says that husbands starting relationships with Chinese women were the top of the tree for...
24 Feb at 6 PM 2014

Expat parents hit hard by soaring school fees

Most expat parents living and working overseas do their best to get their children an international education, but the soaring costs of private school fees are becoming hard to meet. A recent study by a leading expat bank has revealed that, however hard expat parents try to give their children the stability of a private school education, at least a third are being forced to consider removing them from their exclusive schools. Fees are believed to have risen by at least 25 per cent since 2009, and expat salary packages in general have...
18 Feb at 6 PM 2014

Republican FATCA protest spreads worldwide on social media

Initiated by the Republican party, the protest against the US government’s Foreign Account Tax Compliance Act (FATCA) has spread across the world via a social media protest site. The controversial tax information-swapping agreement, supported by President Obama, is intended to clamp down on US citizens living abroad as well as resident taxpayers with investments and overseas cash holdings. Foreign financial institutions are being forced under threat to report all details of bank accounts and investments held overseas by US citizens...
17 Jan at 6 PM 2014

Investor scams still ongoing in spite of tighter regulations

Over five years after the Madoff case hit world headlines, small-time fraudsters continue to trap unwary investors, with expats especially at risk. Enforcement agencies in first world countries are upping the ante and catching more scammers than previously, but in many popular expat destinations as well as in the USA and UK, it’s business as usual from the fraudsters. A recent arrest in Indiana, USA involved an FA who’d defrauded his clients out of millions of dollars through dodgy deals. Global investment firm CEO, Daniel...
30 Dec at 6 PM 2013

Should Spain issue ID cards to resident expats

Laws in Spain can be somewhat confusing and, although the vast majority of expats lead an impeccable life, it’s embarrassing to be caught out unintentionally. The law as regards identification cards is one such example, and many long-term expats will remember an attempt by the government to provide a card to those who qualified as residents. The card showed an ID number, fingerprint and a photo of its holder, and proved useful in stores, banks, government offices and on domestic flights. However, expat whines that having EU...
27 Dec at 6 PM 2013

Scattered pension pots make expat financial planning difficult

New research has revealed that more than half of the total number of workers have two or more pensions, and those over 51 have four or more, making financial planning in retirement less than straightforward. The survey was undertaken as a response to the system proposed by pension minister Steve Web of migration of occupational pensions into a single fund. Many thousands of those in occupational pension schemes either abandon them when they move jobs or have no idea who is managing the fund or how to access their details. The...
21 Dec at 6 PM 2013

Brits returning from overseas to be hit by Eastern European benefit curbs

UK expats returning home after living or working overseas for three months or more are due to be hit by the same benefit restrictions as will apply to immigrants from Romania and Bulgaria. In a bid to dissuade Bulgarians and Romanians from coming to the UK for work and claiming benefits, the Department of Work and Pensions has introduced new, restrictive rules which will also apply to UK nationals returning from overseas posts or time abroad. The reruenting UK expats will be affected as the government is unable to discriminate between...