Archive for 2011
Saudi Arabia has turned heads recently with a proposed cap on expat money transfers. Expats send the majority of their money out of the country, which officials say hurts the non-oil economy and keeps local unemployment high. The proposed transfer limit has sparked heated discussion not only among expats, but also Saudi businessmen and officials. […]
2011 is drawing to a close and with it the tax year. In keeping with the seasonal spirit, the US government has given expats an early Christmas present: a revised Form 8938. The new form is an integral part of the Foreign Account Tax Compliance Act (FATCA), designed to punish tax cheats with overseas assets. […]
Despite the euro crisis, your expat pounds (or euros, or yen) will go furthest in the US or countries with currencies pegged to the dollar, such as Hong Kong. Of the 50 most expensive cities identified by ECA International’s most recent cost of living survey, only one was located in the United States. New York […]
The Channel Island of Guernsey has long been a popular destination for Qualified Recognized Overseas Pension Schemes (QROPS). But it stands to lose that status when new UK tax rules go into effect in April. QROPS were originally created to help expats transfer their pensions overseas without crippling tax charges. But Her Majesty’s Revenue and […]
Expats paid in euros are slowly but surely bleeding value as the common currency falls. Similarly, those living in troubled economies like Italy and Greece may want to protect themselves against the possibility of a euro exit and currency devaluation. One way is to park money in accounts denominated in safer currencies like British pounds […]
A “fun” fact: if you are a British expat who retires to a country where your pension isn’t uprated (adjusted for inflation), you stand to lose GBP 24,000 worth of potential income in 20 years. Freezing expat pensions is an unpopular policy. There is a veritable chorus of criticism out there written by individual expats. […]
Expats send an extraordinary amount of money out of Saudi Arabia each year–the equivalent of USD 7.1 billion in the second quarter of 2010 alone. As a result, the country may try to limit the amount of money expats can send home. Take data from a recent kippreport.com survey. It found 74% of expats in […]
The preliminary results of Lloyds’ and Just Landed’s Expat Banking Poll are in, bringing a couple surprises with them. So far respondents have shown a strong desire for more secure investments, even if it means sacrificing returns. This extends from investment portfolios down to current and savings accounts.
Greek locals aren’t the only ones suffering the harsh reality of the debt crisis. Expats are under increasing pressure as companies eliminate assignments and strikes disrupt businesses linked to tourism. But in every crisis there is opportunity, and Greece is no exception. Stuart Orchard, owner of XpatAthens.com, tells us how more reasonable property prices could […]
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