Expat Currency News

Latest 10 news items tagged Currency

13 Dec at 6 PM 2018

Expats in UAE taking advantage of sterling falls

It seems Brexit isn’t bad news for everyone, as expat professionals in the UAE are repatriating cash at great rates. As the pound sterling continues its path downwards, expatriates working in the UAE are laughing all the way to their UK banks as they remit currency at the best rates seen since the 2008 financial crash. Even so, they’re now in a dilemma – whether to wait until the pound crashes still further or send money home using today’s attractive exchange rates. One insurance broker is holding off as he’s convinced...
12 Dec at 6 PM 2018

Would-be expat couple lose everything due to minor mistake

One easily-made financial error has wrecked a retired would-be expat couple’s dream. Even with warnings plastered across expat-aimed online media sites about the risk of losing pension pots to financial scammers, it seems it’s also far too easy to lose a lifetime’s savings to a company fully registered with the UK’s Financial Conduct Authority. One retired couple hoping to relocate to Portugal found this out the hard way after making just one small but crucial error. The now defunct and infamous FCA-approved online...
1 Dec at 6 PM 2018

Brits expats still investing in buy-to-let

Brit expats working in Europe invest in London buy-to-lets whilst those working in the Middle East prefer North of England properties. Perhaps the aboveo is something of a generalisation, but the statistics come from a major UK buy-to-let mortgage lender dealing with British expat property investors across the world. Over the past few years, the buy-to-let boom has forced real estate prices higher across the UK and caused a price explosion in London and its suburbs, but it still shows no sign of slowing down. The survey breaks...
28 Nov at 6 PM 2018

To stay or go – the expat dilemma in Spain

Although many British expats in Spain are beginning to believe the only way forward is to reluctantly return to the UK, is this really necessary? As Britain’s Prime Minister attempts to sell her controversial deal to Parliament, a strategy which seems likely to fall flat on its face, the numbers of British expatriates in Spain who’ve finally decided to give up and go home are on the increase. However, long-stayers and retirees may not have realised how much the UK has changed since they chose a life in the sun against the country...
15 Nov at 6 PM 2018

UK expats urged to guard against volatile pound

As the Brexit scenario becomes even more confusing and unpredictable, UK expats overseas as well as sterling investors are being urged to take precautions against currency volatility. As the wrangling in the British parliament increases and calls for a second referendum grow louder, the pound sterling is weakening by the day. At the beginning of the week, the pound fell to $1.286 against the US currency and €1.12 against the euro. More falls are expected as it becomes obvious that Theresa May is unlikely to get lawmakers’ support...
12 Nov at 6 PM 2018

QROPS dilemma for UK expat retiree pensioners

Retiring in the sun is the dream of many older Britons, especially since the Brexit referendum. Expats past the age of retirement make up a sizeable percentage of British nationals living overseas, according to the Office for National Statistics. Portugal and Spain are major UK retirement hubs, with pensioners aged 65 and over accounting for 39 and 42 per cent of the total British expat population respectively in the two countries. In addition, 207,300 of the 784,900 UK-born nationals living in Europe are of retirement age or older....
25 Sep at 3 PM 2018

Outcry by ignored Brit expats forces May u-turn

After failing to include the rights of British expats in her Friday speech, the PM backtracked in a Saturday interview with the Daily Mail. Campaign groups fighting for UK expats’ rights as well as expats themselves reacted furiously to May’s Downing Street speech following last week’s disastrous meeting between the PM and Michel Barnier. During her speech, May had failed to mention British citizens in the EU whilst guaranteeing the rights of EU citizens in the UK even in the event of a no-deal Brexit. By Saturday, during an...
3 Sep at 6 PM 2018

Inexperienced expats warned about borrowing to fund cryptocurrency purchase

Expats based in the UAE are warned to beware of borrowing to fund cryptocurrency investments. One French expatriate based in the UAE and working as a cabin crew member with a major airline has lost almost all of the money he borrowed to invest in cryptocurrencies. Early last autumn, the French cabin crew member made several small investments in cryptocurrencies and came out of it very well due to the boom in the unconventional currency. Three months later, as the boom continued, he decided to get a loan and invest again. Having found...
30 Aug at 6 PM 2018

Brits in Spain lose millions to yet another financial fraudster

In spite of endless warnings about financial fraudsters preying on expats, another Ponzi scheme has now been uncovered. Victims of the latest financial fraud in the popular Spanish resort of Marbella have claimed losses of up to six million in sterling due to a Ponzi scheme being run by a Welsh investment advisor. Rhys Williams lived the high life in the resort, persuading his victims to invest eye-watering amounts in a Dubai printing and paper recycling firm as well as in Dubai trading platforms. The fraudster guaranteed returns of...
21 Aug at 6 PM 2018

Safeguarding your expat pension pot against a hard Brexit

As Brexit draws nearer with no agreement in sight, British expats in the EU are attempting to calculate the possible damage to their finances of a no-deal exit. Reports of the effect of sterling’s slump against the euro have increased concern amongst Europe’s UK expat communities about the likelihood of a hard Brexit causing further damage to the home country’s currency’s exchange rate. Nowadays, hundreds of thousands of British citizens are living in EU member states, with a majority of retirees living on their pensions. The...