Expat Usa News

Latest 10 news items tagged Usa

29 Oct at 6 PM 2014

US Justice Department cracks down on Swiss banking privacy

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...
28 Oct at 6 PM 2014

US expat woes increase thanks to FATCA

A recent survey undertaken with a sample of US expats living in popular destinations revealed that almost three-quarters of respondents had considered voluntarily renouncing their citizenship to avoid the onerous FATCA requirements. The complications of endless form-filling, the threat of being barred from opening local bank accounts and the invasion of personal financial privacy have already resulted in an unprecedented number of US expat citizens giving up their passports. According to the survey, 73 per cent of respondents admitted...
27 Oct at 6 PM 2014

Survey shows Asian hubs offer more bang for the expat buck

The recently-published annual HSBC Expat survey has revealed that Asian locations offer the most affordable costs of living due to their cheaper accommodation, utility charges and groceries. The well-regarded survey, based on expats’ ability to afford essential services and goods as well as on average disposable incomes, saw Switzerland hit the number one position as regards overall quality of life. However, for mere expat mortals rather than retired bankers, Asian destinations won out on sheer affordability. Thailand and Vietnam...
24 Oct at 6 PM 2014

How to avoid the fees and frustrations of conventional currency exchange

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

UAE recognition of overseas medical degrees results in more health professionals

The UAE’s new unified professional qualification requirement scheme came into force earlier this month, and has resulted in a larger pool of qualified medical professionals in Emirati hospitals. The new requirements now recognise international medical degrees from a number of countries worldwide, and are attracting experienced expat healthcare workers at all levels to UAE hospitals and clinics. Senior healthcare officials have announced that the UAE-wide laws are aimed at increasing the quality standards of those working in...
20 Oct at 6 PM 2014

Continuing FATCA chaos impacts long term US expats in Canada

Problems with retaining bank accounts and complying with complicated regulations are hitting hard on all US expats, but those who emigrated to Canada many years ago are experiencing the worst effects. Last February, the Canadian government finally signed on to co-operation with FATCA ruling as regards the disclosure of privately held offshore assets belonging to US expats resident north of the border. The steep penalties imposed on non-compliant foreign banks and the mass of paperwork required has led to many US and foreign banks...
20 Oct at 6 PM 2014

Con man operating Marbella coloured diamond scam jailed for four years

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

Survey results urge expats to be informed about financial matters

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...
17 Oct at 6 PM 2014

Female expat in Spain accused of property fraud still on the run

Whilst most expat attention nowadays is focused on how to avoid financial fraud, a British expat is on the run in Spain after being accused of a long-term rental property scam. Many expats don’t realise that life in paradise can swiftly turn to life in hell, often with the assistance of seemingly trustworthy business people from their own home country. Rebecca Wells, a keen horserider from the UK, provides a perfect example of the kind of helper no-one needs, having gone on the run after being accused of property fraud. Wells...
16 Oct at 6 PM 2014

Christchurch rebuild halves emigration from New Zealand South Island

Ever since the rebuild of earthquake-devastated Christchurch began, Kiwi expats have been returning to help, with nationals who’d planned to migrate also joining in the reconstruction of their much-loved city. Migration from New Zealand’s South Island has almost halved during the past two years, with locals joining with incomers from overseas. Everyone wants to be a part of of the rebirth of a city, with experienced expat construction engineers, experts and craftsmen in the building trade all working hand in hand whatever their...