Expat Money News

Latest 10 news items tagged Money

6 Dec at 6 PM 2019

Oz property prices bad news for incoming expat professionals

Would-be expats are in favour of both Melbourne and Sydney, but soaring house prices are causing financial issues. Now that just about anywhere on the planet can turn into a favourite expat destination almost overnight, would-be career boosters and upscale digital nomads are making their choices on the basis of property prices. Australian expats overseas are claiming they’re there due to the expense of staying in the home country, and would-be expats from overseas are now bypassing any city experiencing house price bubbles. In...
6 Dec at 6 PM 2019

Expat SMEs in Hong Kong feeling the pinch as protests continue

As expats in Hong Kong brace themselves for the next protest, the authorities are pinning their hopes on throwing money at the issue. The past six months of increasingly violent protests as well as the Trump/China trade war have eaten into Hong Kong’s economy to the extent that many small and medium sector companies are facing a lack of liquidity and even bankruptcy. Last week, the government announced further stimulus measures totalling $421 million in an effort to stave off what’s beginning to seem inevitable should the protests...
2 Dec at 6 PM 2019

Dublin property prices dropping due to Brexit concerns

For would-be British expats considering a move to the Republic of Ireland, Dublin’s residential property prices are falling at last. Following the 208 global financial crisis, the Irish capital’s real estate prices increased rapidly to heights not seen for many years, discouraging both locals and expats from taking a chance on a purchase. The boom continued, with average prices last seen to be falling on an annual basis pre-2012. The latest figures from the Republic’s Central Statistics Office show house prices falling by 1.5...
27 Nov at 6 PM 2019

FATCA still treating US expats like criminals

For every British expat complaining about the UK taxman taking more than his due, there are literally millions of US expats wishing they’d been born somewhere else! Some nine million Americans living overseas face an unimaginable tax nightmare every year of their professional or retirement lives. The USA is almost unique in its taxing of its overseas citizens, with Eritrea the only other world country which does so. The horrendous reality is that US expats overseas who don’t even earn anything still have to make tax returns based...
18 Nov at 6 PM 2019

Starting a small business as a retired expat in Thailand

Nowadays, many small business owners in the West are taking early retirement and heading to warmer, less costly shores. Once the initial novelty of a new country begins to wear off, many new retirees consider starting a new business in order to utilise their knowledge and experience as well as topping up their pensions as a hedge against inflation. A small business enterprise can give new meaning to expat life, but only if the laws of the relevant country are fully understood. The World Economic Forum’s newly released report on...
15 Nov at 6 PM 2019

British expats in France worried over declining healthcare standards

Expats in France are worried about the state of the once-famed French healthcare system. One essential for all expats considering a move overseas is an up-to-date, efficient, affordable healthcare system. Over the past decades, the French healthcare service was regarded as one of the best in the world, but nowadays its reputation is shot and the lives of patients are at risk. Staff are overworked, underpaid and at risk as regards their mental as well as physical health. The result was seen yesterday, as a nationwide strike action by...
13 Nov at 6 PM 2019

UK expat collective investment fund holders now risk HMRC tax blitz

Wealthy expatriate Brits with investments in offshore collective investment funds are now firmly in the sights of the UK taxman. Letters have been sent out to a large number of wealthy expats as part of a tax blitz on those using this specific tax strategy. The information required will allow HMRC to use replies under the guise of checking that gains and dividends from the stated funds are being correctly reported on annual tax returns. According to those working on the scheme, research has already identified many British investors...
8 Nov at 6 PM 2019

Is China a long haul expat destination or just a stop on the road?

Most expats in China eventually face deciding whether they want to leave or stay. It has to be said that China is a unique world destination for expat professionals, whatever their expertise, but the vast majority aren’t in it for the long haul. However fascinating and challenging the stay in this unique country is, sooner rather than later it’s time to consider whether leaving isn’t a better option. For the majority, the factors which need considering are many, with the first usually connected to financial goals. Following...
8 Nov at 6 PM 2019

Expats sending money home to be hit by Kuwaiti tax on remittances

Newly promoted expats’ enemy Safa al Hashem hits out again at expat remittances. Al Hashem, now the head of Kuwait’s National Assembly Financial and Economic Affairs committee, hit out yet again at expats living and working in the emirate by calling for government support on a draft bill imposing taxes on money sent back to the home country by expatriates. Lawmakers are expected to push the bill though its approval stage, giving more chance for it to be voted into Kuwaiti law. T he controversial bill was first introduced by al...
5 Nov at 6 PM 2019

Retirement savers insisting on managing their own money via pension freedoms

Many UK retirement savers are now insisting on managing their own money. Arguments are now ongoing between pension regulators, financial advisors, pension providers and savers themselves as to the ifs and buts about transferring to a defined contribution scheme from a defined benefit pension, with savers wanting more control over their own money and the timing of their retirements. The major reason why pension savers wish to transfer is the pension freedom legislation which allows cash drawdowns from the age of 55. Defined benefit...