Expat Property Abroad News

Latest 10 news items tagged Property Abroad

18 Apr at 6 PM 2019

Abu Dhabi permits expats to own freehold homes and land in selected zones

A new Abu Dhabi law will now allow residential units located in areas designated for investment to be registered as freehold, thus allowing purchase by expatriates. Changes to the emirate’s real estate laws are to result in expatriates being allowed to purchase freehold land and properties in designated investment areas. In the past, land and property ownership was restricted to Emirati nationals and citizens of GCC states, with expats only allowed to purchase 99-year leases. The new law is expected to be welcomed by expatriate...
17 Apr at 6 PM 2019

Expat professional hires in Kuwaiti and gas oil sector drop by 50 per cent

The appointment of expat professionals to crucial positions in Kuwait’s oil and gas sector during the fiscal year 2018/2019 has fallen by 50 per cent. During Kuwait’s 2017/2018 fiscal year, the Kuwait oil and gas sector appointed 345 expatriate professionals as against hirings of 190 during the year 2018-2019, a drop of almost 50 per cent. Even so, the same source of information reasserted the crucial importance of expat professional experience in maintaining operational standards in global companies, adding that, in spite of the...
15 Apr at 6 PM 2019

Mega financial scammer IFA boss fails to attend Spanish court hearing

The boss of a failed financial advisory company in Alicante is in hiding, having failed to attend a Spanish court hearing. Darren Kirby’s Alicante-based Continental Wealth Management financial advisory company folded in 2017, leaving hundreds of investors out of pocket to the tune of millions. Continental Wealth Management’s Denia office in the Marriott Hotel was an upscale setup aimed at impressing future clients, with the company also managing up to 10 telesales staff dealing with expat clients across Europe. Its modus operandum...
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...
4 Apr at 6 PM 2019

Is Saudization failing due to local lack of interest in working?

Saudi Arabia’s Saudization strategy seems to be failing, as huge numbers of expats have left but haven’t been replaced by local talent. Since Saudization became the Kingdom’s buzzword, led by its controversial Crown Prince, some 1.5 million expatriate jobs have been made vacant and offered to Saudi locals. Expat reasons for leaving are many, and include early termination of contracts, the economic slowdown and the feeling that job security is no longer guaranteed. The push for companies to hire Saudi nationals as replacements...
1 Apr at 6 PM 2019

Innocent Brit rearrested after emergency UK trip breached travel ban

A British expat cleared of involvement in a Spanish property scam has been rearrested for leaving the country to help his long-term partner deal with her nervous breakdown. Rob Herring, along with his friend Scott Cattell, had been arrested in Marbella in July 2015 after Scott and his then girlfriend had collected a few chairs from a local office run by one Yanis who worked for a fraudulent property company registered as Renty123. The scam involved the posting of fake properties for rent on TripAdvisors’s rental pages until it was...
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...
26 Mar at 6 PM 2019

Why are expats in the UAE reluctant to save for retirement?

The majority of expat professionals living and working in the UAE are planning to retire at around the age of 55, but few are saving enough to ensure a comfortable future. A new survey on behalf of a well-known offshore insurance company suggests less than half of expats in the UAE are saving enough to finance a long retirement either back in the home country or in another country of their choice. The survey itself was undertaken by the well-known YouGov poll, with its somewhat negative finding coming as no surprise to a good number...
22 Mar at 6 PM 2019

Brit expat left powerless due to next door cannabis plantation

An unfortunate British expat in the Spanish resort community of Finestrat just outside Benidorm has no power as local workers confused his meter with the one supplying the next-door marijuana plantation. Workers from Spain’s electricity provider Iberdrola arrived at the home of British expat Steve Knight, armed with an order to cut off the supply to the adjacent property, believed to be housing a marijuana plantation. Steve had already recognised the pungent smell from the cannabis plants, but left well alone. His suspicions were...
21 Mar at 6 PM 2019

Rental market in Oman crushed by expat exodus

A noticeably steady decline in the numbers of expat professionals living and working in the emirate has seen rental prices over the past year fall by between 10 and 15 per cent. Oman’s rental market has traditionally relied on expat professionals arriving to work in the emirate, but Omanization policies have seen increasing numbers of foreign experts leaving the country for friendlier climes. The exodus is also having an effect on the values of investment properties, with buy-to-let landlords cutting prices to achieve fast sales....