How To Open A Bank Account Abroad Without A Credit Rating


Financial - Expat Focus

European law dictates that banks must open an account for an EU citizen, but things are trickier for those from outside of the European Union moving into it and for EU citizens moving outside.

The biggest challenge when it comes to opening a bank account overseas is that the expat's credit score will not be travelling with them so it means a bank in their new country does not know anything about their creditworthiness.   more ...

  Report: Complicated Tax Codes Forcing Americans To Give Up Citizenship


Financial - Expat Focus

To put this situation into perspective, in 2008 just 231 Americans gave up their citizenship but this number rocketed to 4,279 in 2015, a rise of 20% on the year before. One survey found that 70% of those who had given up their citizenship pointed to tax and financial regulations for being the motivation.

However, US citizens don't escape that easily since the government publishes their names in its Federal Register every year.   more ...

  Expat Focus Financial Update 26 September 2016


Financial - Expat Focus

Cities favoured by expats are 'most liveable'

Australia and Canada are not just firm expat favourites to enjoy opportunities; they also top the charts for being the world's most liveable countries, says a survey.

According to rankings published by the Economist Intelligence Unit (EIU), Melbourne in Australia is the world's most liveable city, followed by Vienna in Austria.   more ...

  Merrill Lynch Closing Brokerage Accounts For US Expats


Financial - Tom Zachystal

Merrill Lynch has recently been sending letters to many of their US citizen clients living outside the USA saying that their accounts will be closed as of October 1, 2016. The letter typically states the following:

We have conducted an extensive review of our non-US resident client business to determine whether we had the ability to continue to effectively serve your wealth and investment needs under increasing business requirements and regulatory restrictions. Having completed this analysis, we believe you would be better served by a firm or firms that can meet your comprehensive wealth and investment management needs. Therefore we will no longer be servicing your Merrill Lynch Wealth Management account(s) and/or credit facilities effective October 1, 2016.   more ...

  7 Practical Tips For Saving Oodles Of Money As An Expat


Financial - Expat Focus

Moving abroad is the culmination of a lot of planning and preparation and also, for many people, the result of lots of dreaming to land the job they really want.

The expat may have landed a fantastically well paid position but they still need to prepare thoroughly to avoid serious financial problems since they will need to manage their money between two countries with differing economies and currencies.   more ...

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