Expat Currency News

Latest 10 news items tagged Currency

1 Aug at 6 PM 2018

Is offshore banking the best expat strategy

In spite of rumours about tax avoidance, offshore banking gives a number of advantages for expat professionals. The vast majority of expat professionals working overseas are paid in their local currency, with many having financial liabilities such as mortgages in the home country. Most are planning to either move elsewhere for work or retirement or even return home at some stage in their professional lives. For those concerned about banking security and ease of transferring money in various currencies, offshore banks are the sensible...
30 Jul at 6 PM 2018

Expats advised to remit as sterling struggles

British expats living and working overseas are being urged to remit as the pound sterling is undervalued. As fears of a hard Brexit and its devastating effect on the UK’s economy increase, expats working overseas are being urged to remit before it’s too late. According to analysts, sterling’s instability will continue over the eight months left before Brexit kicks in, with the chance of a no-deal becoming ever more likely. Since mid-April, when the pound was at its highest rate since the 2016 referendum, many factors are...
26 Jul at 6 PM 2018

Saving money on international transfers by shunning the banks

The 21st century is set to be the century of the expat, with more and more millennials opting to leave their home countries in order to further their international careers. As the number of expats working overseas at all levels grows, so do the amounts transferred between currencies and countries. The amount of money being sent across national borders is growing year by year as more and more people realise the world really is their oyster. Until recently, cross-border banking was a chore as well as a necessity, but traditional banks...
27 Jun at 4 PM 2018

Asian cities now most expensive for expats

Given the latest survey on costs of living in popular expat professional hubs, those looking to relocate to Asian cities might do well to renegotiate their salaries. The recent Mercer survey identified Hong Kong as, again, the world’s most expensive city for expat life, with Tokyo, Singapore and Seoul not far behind. The Hong Kong result isn’t much of a surprise, considering that a parking space can set you back some $760,000, and the average expat professional aiming for Asia wouldn't be much better off in Shanghai or Beijing....
8 May at 6 PM 2018

Is Bitcoin a financial best friend for expats

It’s fair to say Bitcoin is now a huge topic of interest amongst the worldwide expat community as well as an investment for the adventurous. First created and launched in 2009, the cryptocurrency concept was designed to become a universal method of payment achieved through secure, automated transactions. In fact, the design itself was the groundwork for a totally new monetary system. From the start, it was used as an investment as well as a currency, leading to the amazing 2017 rise in its value from $1,000 to $19,000 over a short...
2 May at 6 PM 2018

Cryptocurrency crooks under threat of international crackdown

As reports of cryptocurrency connections to organised crime, fraud and duping of inexperienced investors begin to surface on the web, international regulators are preparing to get tough. Due to the popularity of speculating in cryptocurrencies, it’s no surprise the bad and the ugly are now taking advantage of the good and the inexperienced, with moves now underway in EU countries, the UK, USA, Japan and South Korea to drive cryptocurrency crooks off the internet. According to international financial regulators, the currencies...
11 Apr at 6 PM 2018

Two Dubai expats face 500 year jail sentences for massive financial fraud

Following their arrest in 2016, the two traders were finally found guilty and sentenced to 500 years’ imprisonment for their involvement in a $200 million currency trading scam. Ryan Fernandez and Sydney Lemos, both currency traders, had defrauded clients through their Exential Group firm and were first arrested when an investor claimed promised returns had not been paid out. Following the complaint, the Dubai government’s Department of Economic Development ordered the business to cease trading. The pair had touted investments...
5 Apr at 6 PM 2018

Austrian bitcoin fraud investigation goes Europe wide

Austrian financial authorities investigating a suspected cryptocurrency pyramid scheme related to bitcoins are requesting Interpol join the search for those behind the fraud. Centred in Vienna, the investigation is now considering whether other European countries have also been targeted by a recently-discovered bitcoin-related scam. Interpol has been asked to join in the investigation amid fears the fraud has spread across Europe and involved more than the initial hundreds of victims in Austria. According to spokesperson for the...
15 Mar at 6 PM 2018

Cryptocurrencies win support from China and Russia

Expats pinning their financial hopes on digital currencies can take some encouragement from China and Russia’s begrudging acceptance of the online money. Expatriates eager to invest in cryptocurrencies in spite of their unregulated volatility may have been offered some slight reassurance by Russia and China’s take on the wildly fluctuating crypto-coins. China, the planet’s second largest economy, was the first to comment via its central bank, saying an eventual move to a true digital economy is inevitable although policy makers...
21 Feb at 6 PM 2018

Cryptobillionaire expats commit to rebuilding Puerto Rico

Hurricane Maria’s devastation wrecked the tropical paradise of Puerto Rico and is still in evidence across the main island, but its rescue may well come about via a very surprising development. The rise of the Puertopians is alive and kicking, with scores of crypto-wealthy Brits, Canadians and San Franciscans descending on the island after selling up everything they own and becoming expats. Some are arriving from the tax-free Cayman Islands, having given up their registrations in favour of Puerto Rico. Before the hurricane struck,...