Expat Usa News

Latest 10 news items tagged Usa

16 Jul at 6 PM 2014

80 per cent of USA expats considering giving up citizenship due to FATCA

A new survey has revealed that the onset of the USA’s FATCA global tax law has resulted in an 11 per cent rise in the number of Americans prepared to give up US citizenship. The results of the poll, undertaken by a major international financial product provider, won’t come as a shock to US expats living permanently overseas. Already, banks in their host countries are closing out US citizen-held accounts and refusing new business rather than deal with the reams of paperwork needed to comply with the directive. Almost 80 per...
15 Jul at 6 PM 2014

Number of Britons living overseas soars to over five million

According to a report by the United Nations, well over five million British citizens have emigrated for reasons of work, retirement or general dissatisfaction with the state of their home country. Since 1990, the number of British-born migrants has increased by 23 per cent, with the majority of those leaving heading for sunnier climes. Australia is the all-time favourite destination, now home to some 1.27 million former British residents. America is the next most popular place for immigration, with 758,919 Brits in residence, and...
14 Jul at 6 PM 2014

Mobile roaming charges in and around Europe finally slashed

Expats using UK mobile phones in Europe are finally able to move from one country to another without being charged a small fortune for mobile roaming, texting and making calls – but it’s not all good news. Holidaymakers and UK expats who live in EU member states but enjoy touring nearby countries will gain the most from the newly reduced charges. Calls are now capped at 15p per minute, browsing or downloading at 16p per megabyte, texting at 5p a minute and receiving calls at 4p. Unfortunately for expats from other world...
14 Jul at 6 PM 2014

Five reasons why expats give up on the dream

Retiring to a dream destination overseas with great weather, good healthcare facilities and a delightfully low cost of living is a tempting option after years of corporate loyalty, but many less than wealthy migrants find deal-breakers dragging them back home. Knowing yourself and what you can live with or live without is essential for a successful retirement overseas, and introspection is the best tool as regards preparation for that life-changing move abroad. Successful integration depends on knowing your chosen relocation hotspot...
11 Jul at 6 PM 2014

Are QROPS transfers available to British expats in the USA

As the world gets smaller, many more Brits are heading to the USA, leaving their pensions back in the home country. Given the present chaos and uncertainty in the British pension system, migrants to America might well be less than happy about leaving a large proportion of their lifetime savings several thousand miles away. The good news is that it’s possible to transfer pension savings into a QROPS whilst living and working or retiring in the USA. Many investment-savvy expats feel they have cause for concern over the safety of...
10 Jul at 6 PM 2014

British exodus from Spain replaced by Russian incomers

Changes in the Spanish tax regime have sent thousands of British expats scurrying back to the UK, only to be replaced by hordes of emigrating Russians. According to the Spanish National Institute of Statistics, the total number of foreigners resident in Spain dropped by an impressive half a million last year, firmly establishing the returnee trend. The massive reduction isn’t all down to emigration, as almost half a million expats gained Spanish citizenship in 2013. However, it’s obvious to businesses serving the UK expat...
8 Jul at 6 PM 2014

UK Expat savers offshore accounts caught by Son of FATCA

Expat savers considered by HMRC to be tax-resident in the UK will now be forced to share their personal and financial details with the UK tax authority. Following the UK’s signing up to FATCA, the UK Chanceller announced a similar arrangement between HMRC and the Crown Dependencies of Guernsey, Jersey and the Isle of Man. The three jurisdictions are most popular with UK expats due to their provision of offshore accounts. The agreement, knows as Son of FATCA and based on the US model, is aimed at curving tax evasion and improving...
7 Jul at 6 PM 2014

Visa application data reveals expats and their tangled love lives

The complications of cross-border relationships involving expats’ love, marriage and even divorce issues have been revealed by a study of immigration assistance patterns. Immigration assistance company Global Visa’s analysis of around 5,000 cases over the past few years has revealed the secrets of expat relationships and love lives. Apparently, almost 33 per cent of all visa applications are now rejected by immigration officers, with refusal numbers doubled since 2012 due to stricter rules in many countries. Fascinating facts...
3 Jul at 6 PM 2014

US expats may be shut out of investing by FATCA demands

Three days after the US’s much-criticised Foreign Account Tax Compliance Act came into global force, Fidelity Investments announced that it will bar expat US citizens from trading in or buying its mutual funds. A number of overseas banks have already begun notifying their USA expat clients that their accounts will have to be closed, and are no longer taking on new accounts from American citizens. Experts fear that the announcement by Fidelity will be the first of many such, effectively barring US citizens living overseas from a...
1 Jul at 6 PM 2014

Expats in Cyprus win settlement in mortgage misselling scandal

The ongoing scandal concerning mis-sold mortgages on expat homes in Cyprus has affected thousands of property owners on the island, but now looks as if it’s coming to an end. Rather than risk a UK High Court judgment against them, the Cypriot Alpha Bank and a consortium of 20 property developers have settled all claims. The good news came just a day before the court hearing was due to begin, leaving the thousands of expats terrified of losing their homes hoping the nightmare is over. According to lawyers, part of the settlement...