Thousands of UK expats get non-dom tax shock

Thousands of expats returning to the UK may be facing significant tax bills when new non-domicile regulations take effect from April.

According to one national British newspaper, the Finance Bill will reduce the tax perks enjoyed by people whose 'domicile', or permanent home, is overseas.    more ...

What are expat employers looking for?

With growing numbers of expats heading overseas to exploit work opportunities, a survey has revealed the most in-demand jobs in each country.

Currency exchange specialists World First has looked at the occupational skills shortages list for countries including Germany, Canada, the US, Singapore and the United Arab Emirates.

In the UK, the survey reveals there is strong demand for engineers, IT specialists, teachers, graphic designers and paramedics.    more ...

British expats face 25% tax charge

The latest budget from the UK's Chancellor Philip Hammond will have surprised many in the financial services world after revealing that expats are facing a 25% tax charge on their offshore pension fund.

The measure will hit retirement fund centres in Malta and Gibraltar, among others.    more ...

Some expats will benefit from offshore banking while others will not but there's no doubt that expats can save tax by placing their savings in offshore accounts.

This is particularly helpful for British expats, for example, who are classed as being UK non-resident since they will not need to pay income tax on the interest from their savings.

However, any income earned on savings for an account held in the UK will be taxed at 20% at source.    more ...

The taxation process can seem highly complicated even to those of us who have been filing our tax returns for years. Unfortunately, becoming an expat does not make things any easier for you. In fact, when you become the resident of a foreign nation, it is imperative that you familiarize yourself with and adhere to the taxation policies of both the places.    more ...

Data recently published by HSBC Holdings Plc. shows that expats living in Switzerland are the highest paid in the world, with incomes that are nearly twice the global average. Expats living in the home of UBS Group AG, drug maker Novartis AG and commodity trader Glencore Plc earn an average salary of $188,275 a year. This was also the second year that Switzerland was ranked number one in the expat career rankings. In addition Switzerland was rated highly for financial and personal wellbeing.    more ...

London becomes a cheaper city for expats

The Brexit vote has led to London becoming much cheaper for expats to live and work in, says a study.

While London has topped the lists for the most expensive place to live in for several years, it's now lagging behind New York and Hong Kong, according to real estate firm Savills.    more ...

Bright blue waters, world renowned clean sandy beaches, and a Mediterranean lifestyle – it’s no wonder Cyprus is an alluring destination for many expats hoping to live life in shorts and a t-shirt. There is a myriad of reasons to relocate to the sun-soaked island and any one of them might be enough to see you booking a one-way ticket to paradise—whether it’s to spend your days out on the water or your evenings enjoying quality time with delicious local delicacies. If you’re more economically minded, you may choose to move for the strengthening economy with falling unemployment. Here are a few of our favourite reasons to relocate to sunlit Cyprus.    more ...

Plans for EU expats in UK

Another week brings more confusion for EU expats working in the UK with one national newspaper saying a new multi-year visa will be brought in after Brexit.

More worryingly, the cut-off date for EU migrants to be considered under any future agreement about their rights within the UK could be just a few weeks away while the EU wants the cut-off date to take place after the Brexit process is invoked.    more ...

How US expats can calculate expenses for a new country

For those who would like to become an expat in another country but have concerns over how much they will need to earn, help is at hand.

The Earth Awaits website will enable a potential expat to get a financial picture of the money they will need to live overseas. The information is also useful for non-US expats too, though the information is given in dollars.    more ...