Archive for the ‘Country Updates’ Category
Difficulties have arisen for expats and local nationals living in Russia who wish to take out international mortgages on UK property. A statement from Offshoreonline.org has confirmed that one of Britain’s largest international mortgage lenders will no longer be accepting Russian based applications. This means that expats based in Russia, and Russian nationals, must look […]
Andorra has abandoned its reputation as a tax haven and will soon introduce income tax, giving into the pressure of its European neighbours. This small country has always been very attractive for expat residents and property buyers, but will this change with the new income tax? Expats attracted by the idea of no tax on […]
The well-known BRIC countries (Brazil, Russia, India and China) have been growing intensively in terms of economics, GDP and power over the last few years. They are predicted to be the most influential and largest economies of the 21st century. Considering that these countries put together make up 40% of the world’s population, it seems […]
You can read countless books and guides about moving abroad, but they rarely prepare you for the reality of expat life. Advice and tips from expats ‘on the ground’ can provide valuable information about life as an expatriate, warts and all. HSBC Expat, home of the annual Expat Explorer Survey, has released an interactive online […]
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 […]
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. […]
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. […]
The European debt crisis seems to be grinding toward a decisive conclusion after a revolt within the Greek Prime Minister’s cabinet. PM George Papandreou had wanted to put Greece’s euro membership to a referendum, but a number of cabinet members–including his deputy finance minister–have refused. Several socialist MPs have also declared opposition to the referendum, […]
Saudi Arabia’s Minister has announced the country will limit the amount of money expats can send out of the country, according to a report by Eman El-Shenawi in Al Arabiya. New regulations will require expats keep the bulk of their money in Saudi Arabia. The measure is aimed at boosting Saudi Arabia’s economy and lowering […]
Expats in Saudi Arabia face the prospect of frozen bank accounts as the Kingdom tightens up its immigration laws, reported Arabian Business.com’s Elizabeth Broomhall: Foreign workers, whose bank accounts are frozen during visa renewals, fear rules aimed at forcing private sector firms to increase their quota of Saudi employees will leave them unemployed, unable to […]
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