Expat Working Abroad News

1 May at 6 PM 2013

Expats flee Spain as unemployment soars and property prices crash

According to figures issued by Spain’s National Statistics Institute, the total population of the country has fallen for the first time in 150 years. As Spanish unemployment soars to over 26 per cent and the country’s economy staggers, a total of 206,000 residents have given up and left. According to the figures, the entire drop represents foreign residents leaving the country. From the year 2000, Spain experienced a rapid rise in its immigrant population, mostly fuelled by migrants from Spanish-speaking countries in South...

1 May at 6 PM 2013

2013 Expat Explorer Survey calls for participation from expats worldwide

HSBC Expat, the compilers of the largest expat survey in the world, are calling for expats from all over the globe to take part in their 2013 survey. Commissioned by HSBC Bank International, the survey covers just about every expat experience of living and working overseas. It paints a global picture of expat life in all its stages, pointing out the difference and diversity of the hundreds of expat destinations across the planet. The results are a compilation of expat views on quality of life, raising a family overseas and all...

7 Mar at 6 PM 2013

Mortgage famine prevents UK expats from coming home

Many UK expats working abroad intend to return home after their contracts end, but are unable to do so due to banks and building societies refusing their mortgage applications. Mortgage brokers are snowed under with applications from expat workers wishing to buy into a UK home once their contracts are finished. Enquiries have doubled due to traditional mortgage providers refusing loans to applicants who have no recent financial history in the UK. CEO of Springtide Capital Henry Knight is surprised that so few lenders will consider...

1 Mar at 6 PM 2013

Moving 2 Canada sets up new recruitment agency for Irish migrants

Following on the success of Canada’s Irish-Canadian Immigration Centre, Moving2Canada is introducing a job-search agency to connect Irish would-be immigrants with Canadian employers. The service will be aimed at migrants over the age of 35 and families who are ineligible for the Working Holiday one-year visa and need to secure employment before arriving in the country. Applications from workers with engineering or construction backgrounds will be especially welcome. Moving2Canada’s website encompasses Toronto, Calgary, Fort...

1 Feb at 6 PM 2013

Manila condo demand soars as foreign investors discover Philippines

The expanding expat community in Manila and other popular Philippine immigrant destinations has lead to a boom in real estate and the construction of huge numbers of condo blocks. In Manila, the call for expat-style condo blocks is transforming the city’s skyline, with property investors jumping on the bandwagon and a surge in foreign company start-ups and expansion. Gerry Lane, CEO of Lane Archive Technologies, says his company is investing in industrial as well as residential property as the country’s recent economic performance...

26 Dec at 6 PM 2012

High street banks making mint from expat currency transfers

International banks with UK high street branches are forcing expats and their home country families to pay through the nose for bank-to-overseas branch money transfers. International banks with branches in the UK make much advertising capital from their overseas branches and so-called advantages for expat customers, but are making a fortune from bank-to-bank transfers. One of the worst offenders is HSBC, calling itself the ‘world’s local bank’, which charges up to £30 to send a payment from an HSBC account in the UK to one of...

16 Nov at 6 PM 2012

Expat Americans unhappy over filing US tax returns

A recent survey has revealed that expat Americans living abroad are increasingly reluctant to file their US tax returns. The study, undertaken by US expat tax reporting, filing and planning service for expats Greenback Expat Tax Services, speaks volumes about expat concerns over their tax liabilities. According to Greenback president David McKeegan, the majority of expats living and working overseas feel they are unfairly treated by the US government. McKeegan adds that, with the upcoming 2013 increases in Medicare, Medicaid, income...

13 Nov at 6 PM 2012

Lloyds Bank to withdraw expat mortgages on UK properties

Shortly after its international arm stopped lending to expats, Lloyds Bank UK announced that it was following suit and pulling the plug on its expat mortgage scheme for UK properties. The move is bad news for expat workers planning to move back to the UK as many wish to have a secure property waiting for them after their contracts end. The withdrawal covers all Lloyds subsidiaries including Lloyds TSB Scotland, Halifax and BM Solutions, meaning that expats planning to return home within three years are no longer able to buy a house and...

7 Nov at 6 PM 2012

International firms hit out at overgenerous expat packages

As the costs of providing generous packages for expats working abroad soar, many international companies are concerned that the benefit culture is spiralling out of control. Multinationals across the world, forced to cut their costs due to sluggish economic conditions, are increasingly concerned that their branch office overseas are wooing expat workers with unaffordable benefits packages. They say that decisions are being taken without reference to head office protocol or corporate guidelines. Even given that the cost of hiring...

25 Oct at 6 PM 2012

Aberdeen based IFA to target expat oil workers overseas

Aberdeen-based independent financial advice firm A2+B Wealth is planning to target expat workers based overseas in the oil and gas industry. The joint venture between accountancy firm Anderson, Anderson and Brown and Dundee-based Verus Chartered Financial Planners will use the specialist Platform One, designed specifically for the financial need of expats. According to A2+B’s wealth director, Jonathan Gibson, no other FAs in Aberdeen are targeting the niche. Gibson sees the new venture as a chance to expand into providing...