Expat Money News

Latest 10 news items tagged Money

24 Apr at 6 PM 2019

Drug addiction in expat students on the rise in Kuwait

Expats in Kuwait are being urged to ensure their kids don’t get involved with the emirate’s growing drug culture. For those expatriate families with a breadwinner and spouse in high-salaried positions, the Kuwait lifestyle is far different from that in the home country, involving leaving the kids with nannies, maids, preschools or nurseries whilst parents concentrate on their full-time jobs and the emirate’s busy social life. It seems expat youngsters in the emirate respond to a lack of a loving home environment in a similar...
18 Apr at 6 PM 2019

San Miguel financial fraud loses expats up to a million dollars

Yet another sad tale of expats being scammed out of their retirement funds shows the issue is still a problem worldwide. The expat community in Mexico’s San Miguel retirement hub is seething with fury as the story of how they were scammed by a well-known personal banking representative breaks. Representative Marcela Zavala Taylor, well known and liked in the community, was the local agent for Grupo Financiero Monex Bank in the region, with her clients trusting her with their pension pots and savings due to her promised high...
16 Apr at 6 PM 2019

Expats in Saigon attempt marathon run in support of neonatal care charity

Three determined expats living and working in Saigon are to attempt a charity relay run between Vietnam’s Saigon city and Lao Cai in just 36 hours. On April 22, Brits Grant Bowdery and Rob West along with Marieke Dekkers from the Netherlands will attempt a non-stop relay run along the Red River’s banks between their base in Saigon and 300km distant Lao Cai. The 300km run is estimated to take 36 hours, requiring an average of around seven minutes per kilometre, with the runners changing places every one to two hours. The aim of...
15 Apr at 6 PM 2019

Planning your financial needs after expatriation

Managing money as an expat can be totally different than the same task back in the home country. More than ever before, emigration is now the goal of professionals looking to catapult their careers into the top echelon with financial benefits to match. In addition, digital nomads are indulging their dream of travelling the world, using their online expertise to pay the bills as they go. Even retirees are now choosing far-flung destinations with cheaper costs of living and far better weather than at home. All three expat categories...
9 Apr at 6 PM 2019

Expats in China love their Roundabout charity shops

Charity shops are favourites in the West, so it’s no surprise they’ve made their way to China along with expats from across the Western world. Roundabout was China’s very first charity store when it opened 10 years ago with the intent of raising money for vulnerable social groups in Beijing. Groups helped included children with physical challenges or serious illnesses, orphans, the elderly, women, earthquake victims and more. The store also provided a meeting place for expats who wanted to help and didn’t know how to go about...
29 Mar at 6 PM 2019

Expats in New Zealand react to the terrorist attack

Expats in New Zealand are grieving for their society after the tragic terrorist attack. For decades, New Zealand has been seen as a safe haven away from an increasingly troubled world, but the March 15 terrorist attack shattered the dreams of expatriates and citizens alike. The general opinion was that, due to its distance from the rest of the inhabited parts of the planet, the cold, hard reality of 21st century life would be kept at bay. Now, New Zealanders and expats alike can hardly believe the atrocity actually happened....
28 Mar at 6 PM 2019

Expat investors in Middle East now have financial advisory aggregator website

For the first time, would-be expat investors in the Middle East will be able to check out their IFAs via an online financial advisory aggregator site. UAE-based communications, consultancy and research agency Insight Discovery is the brains behind the website, with its aim to discourage cold-calling malpractice as well as financial scammers in general. Found at www.whichfinancialadvisor.com, the site is the first of its type in the Gulf States. Only financial advisory companies which have been pre-approved by the two major UAE...
27 Mar at 6 PM 2019

Catch these cheap expat destinations before it’s too late

As the global expat community soars, it’s inevitable that costs of living will rise, even in the most economical destinations. Not everyone who leaves the home country for a future overseas has a generous salary plus perks or a gold-plated pension, with many of the world’s best-loved retirement destinations also some of the least expensive as regards costs of living and housing. It should be borne in mind that pensions paid in home country currency might be affected by the ups and downs of the currency exchange marketplace, but...
27 Mar at 6 PM 2019

China tax reform may spell disaster for expatriate talent

China’s 2018 review of and changes to its individual income tax system will come into effect in 2021. During the opening up of China to the rest of the world, foreign workers were the only demographic affected by the introduction of individual income tax as locals didn’t earn enough to have to pay. Since then, a spectacular increase in average salaries has taken place, yet only some 2 per cent of Chinese workers pay the tax. Even although 2 per cent of the population amounts to some 28 million Chinese, the government now believes...
26 Mar at 6 PM 2019

Expats lose Dh millions in UAE timeshare scam

Many hundreds of expats living and working in the UAE have lost millions of dirhams in total to a cleverly-worded timeshare scam. Expatriates both in Dubai and across the UAE are believed to have been tricked into the scam by a Dubai- based company calling itself Arabian Times Travel and Tourism. It’s believed around Dh4 million is involved, with victims still coming forward and an alert on the company first hitting local media as long ago as last September. The cleverly-worded prospectus offered lifetime memberships allowing...