Expat Money News

Latest 10 news items tagged Money

2 Apr at 6 PM 2020

Cancellation of cruise leaves Cyprus-resident expat seniors in UK limbo

A group of British expat retirees living in Cyprus are trapped in their former home country after their cruise ship was sent back to its British port. Passengers from the ship told Cypriot media reporters the dream Caribbean cruise had started from the UK but was caught up in the chaos due to the pandemic and was instructed to immediately head back to its British home port. Once the Cyprus-based passengers had arrived, they were told they would be repatriated the following day, but they later learned there were no flights available....
30 Mar at 6 PM 2020

Expat-run pet rescue shelters on Cyprus desperate for funds

Expat-owned animal rescue shelters on Cyprus are being hit hard by the pandemic. It’s not just expats and locals who’re being affected by Cyprus’s increasingly tough anti-pandemic measures – it’s also animal rescue centres on the island. Cyprus’s lockdown began last week, at the same time as the Cypriot government announced a €50,000 emergency fund grant available to animal welfare organisations. However, the shelters themselves are now explaining the amount is far under what’s needed to keep them going indefinitely....
20 Mar at 6 PM 2020

Expats on Gibraltar to get financial watchdog and new laws

Expats living on Gibraltar may get financial compensation and a financial watchdog once the Brexit transition is a done deal. The British government is now keen to extend its financial compensation and watchdog provisions to British citizens living and working on Gibraltar once the Brexit transition is done and dusted. Britain’s Treasury office has now launched a consultation aimed at discovering the extent of consumer and market support available for the idea. Under consideration will be the setting up of a financial ombudsman...
20 Mar at 6 PM 2020

Brit ambassador to Kuwait puts foot in mouth over expat difficulties

UK expats in Kuwait are laughing behind their hands as the British Ambassador is forced to apologise for a thoughtless comment. After his embassy staff posted a message to its expats stuck in Kuwait urging them to seek money from local charities if they were short of cash, the ambassador was forced to grovel and apologise. The message was sent via a tweet, later deleted, and called on Britons unable to leave due to the lockdown to beg for cash from family, friends, Kuwait’s Salvation Army or other local charities. The...
18 Mar at 6 PM 2020

Expats nearing retirement may need to rethink their financial strategies

Would-be expat retirees are facing delayed retirement due to the coronavirus’s effect on the stock market. As stock markets all across the planet react negatively to the coronavirus chaos’s effects on world business, hardworking British would-be expat retirees may need to work harder for longer to achieve anything resembling their financial goals. Most affected at present are those whose hard-earned cash is mostly invested in shares, many of whom could start their retirements without enough to live on. It’s better news for...
16 Mar at 6 PM 2020

UK citizens and expats urged to report phishing emails offering tax refunds

British expats are being warned by HMRC over a new corona virus-related scam email purporting to be from the British tax authority. As infections rise across Europe including the UK and more people find themselves quarantined at home with little to keep themselves busy, a phishing email is doing the rounds. The message is luring the vulnerable via incorrect information that the British taxman is offering refunds to those in financial trouble due to the virus. According to the email, the British government has introduced a tax...
28 Feb at 6 PM 2020

Spanish tax bills for expats depend on residency

As the end of the year creeps closer, so does the risk of a no-deal Brexit should a UK/EU free trade deal not be forthcoming. This self-imposed, supposedly immovable December 31 deadline is still threatening to result in a disorderly no-deal British/EU divorce, with its effects not just hitting hard on the UK and its resident citizens but also on British expats living and working all over Europe. Expected are harsher visa requirements, exclusion from free healthcare and even negative changes to the current income tax laws at present...
26 Feb at 6 PM 2020

Expat-founded Spanish horse rescue centre faces closure after storm damage

Spain's expat-owned Easy Horse Care Rescue Centre is at risk of folding due to financial pressures. British expats Sue and Rod Weeding started the Costa Blanca rescue centre eleven years ago and are now struggling to keep it going after having to order forage at far more than twice the usual rate due to last September’s massive storms. Normally, the centre’s charity shops are a vital source of funds even although every item sold is taxed, but because of the huge bills for replacement forage after the storm decimated cheap local...
17 Feb at 6 PM 2020

N26 online bank dumps 200,000 British expat clients due to Brexit

Expats in Spain face the closure of their digital N26 UK bank accounts due to Brexit. Several hundred thousand British expats living in Spain but banking in the UK with the digital N26 bank are being forced to close their UK accounts and are struggling to find suitable alternatives. Based in Germany and operating as an online banking service for expatriates, N26 has only operated within the British expat community for 18 months. The service became very popular within the UK expat community as its money transfers were easy and...
12 Feb at 6 PM 2020

Tips for expats selling their Spanish properties

If you’re thinking of selling your home in Spain, what’s the best way to get the best price? Whether you’re selling your Spanish property in order to move back to your home country or simply because you need a change of scenery, getting the best price can be tricky. Resident expats in Spain’s Costa del Sol are aware that selling takes time as the region basically caters for those wanting a holiday home rather than a long-term base, whilst real estate agents in the region often recommend taking the first offer, providing it...