Archive for 2012
Bags packed. Last goodbyes made. Accommodation arranged. All set. But what about your money? Each year, many expats leave their country, for work, new challenges or retirement. What they often neglect, however, is the money they are leaving behind. Money is often left in low-return savings accounts, when it could be earning more offshore. Many […]
At the end of October a 15 percent tax on property bought by foreigners became valid in Hong Kong. The implementation aims to cool down the strongly overheated property market and it may be followed by further steps. For almost twenty years Hong Kong has been considered the world’s freest economy with the fewest regulations. […]
Expat Explorer, the expat survey conducted by HSBC expat, is in its fifth year of operation. This year, the largest global survey of expats, depicts the impact of the economic downturn on the global expat market. The Middle East continues to draw financially minded expats, however, figures demonstrate that compared to Europe, those in the […]
Last month the Cayman Islands announced what amounts to the territory’s first ever income tax. The Islands have long been revered as a sunny, tax-free haven for thousands of lawyers, accountants and other workers from around the globe. Now, however, this British territory looks set to change its image as the Premier McKeeva Bush announced […]
In order to reduce the country’s national debt the French government has introduced several new tax rates. France’s newly elected president, Francois Hollande, has €1.7 trillion of national debt to contend with. With this in mind he recently announced plans to double potential capital gains tax. In addition, he also raised income tax on rent […]
Expats are in search of the “perfect expat destination”. Though global economic hardships are pushing expatriates to become more price sensitive. Today’s research savvy expats are choosing destinations based on cost-of-living, so they can get the most for their money. Non-traditional locations are the answer. Expats moving to developing countries such as South Africa, Thailand […]
The announcement by Facebook co-founder Eduardo Saverin that he relinquished his U.S citizenship prior to Facebook’s IPO created a media storm. By becoming a Singapore resident, Saverin can take advantage of the zero capital gains tax levied in the country. This move means he can avoid paying a potential $67 million in taxes in the U.S. […]
With increasing concern over the stability of the Euro, people have been pulling their savings out of banks to keep them safe. Greek savers have withdrawn their money from local banks amid concerns the European Central Bank won’t provide support to undercapitalized Greek banks. This has also been seen, to a lesser extent, in Spain. […]
Of the five million British expats around the world many continue to earn their income or pensions in sterling. This money, paid into sterling accounts, often needs to be transferred to other currencies. These expatriates need to move money regularly and safely to their current home. Large currency brokers usually offer deals for regular payments […]
When arriving in a new country, whether for a long period or just a short vacation, expats are most likely to check out the local shopping areas. Once you are ready to buy, you work out the price in your own currency, pay with your credit card and pat yourself on the back for finding […]
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