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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 […]

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 Greek savers have withdrawn their money from local banks amid concerns the European Central Bank won’t provide support to undercapitalized Greek banks.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. […]

People often associate offshore banking with shady activity and tax evasion. Many U.S residents believe it is illegal to have an offshore bank account, however, if you follow the rules it is completely permissible. Offshore banking is a complex procedure and if you don’t follow the regulations it can lead to you being investigated by […]

As a British expatriate you have probably heard of QROPS, particularly if you are retired or nearing retirement. QROPS stands for Qualifying Recognised Overseas Pension Schemes. They act as a vehicle into which, UK pensions (private or company) can be transferred. QROPS are available in many tax jurisdictions around the world. There is a list […]

Despite the ongoing Eurozone crisis expatriates are still intent on buying property in Europe. Spain and France, popular destinations for expat Brits, are the top spots for people looking for property. These results, reported by Rightmove Overseas, showed that 21.7% of all searches in February were carried out in Spain and 17.3% in second place […]

QROPS (Qualifying Recognised Overseas Pension Schemes) are set to undergo the most radical reforms since they were introduced in 2006. The changes, which come into effect on April 6th, will mean some existing schemes will not qualify for benefits. Tax on pensions is usually only levied in the country where the pension holder resides. Under […]

According to the annual NatWest International Personal Banking Quality of Life Index, expats who relocated to the UAE have seen their finances improve “dramatically” since moving. The same response was also given by expats in Singapore, Hong Kong and China. The survey also showed that 72% of expats have not seen a decline in their quality […]

China continues forging ahead with tax reforms, raising the hackles of expats all over the country. The new social insurance tax, for example, is devouring 48% of some expats’ salaries, without providing much in the way of added benefits. Hence we read this income tax primer from China Briefing with great interest. It’s a handy […]

Guernsey is being unfairly targeted by UK taxmen and the press, claims Peter Niven, Chief Executive of Guernsey Finance. The Channel Island is fighting to preserve its QROPS business and reputation in the face of a new law intended to cut down on pension abuses. In a statement, Niven accused Her Majesty’s Revenue & Customs […]

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. […]

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