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Financial

Financial



Expat Focus

Expat Focus

New Expat? Don't Become A Victim Of Bad Financial Advice



For many expats, working temporarily overseas or deciding to emigrate to a new country means having to make financial plans to help prepare for their future income.

While this is easy to do in a home country, it's a more complex situation when living abroad and the expat is vulnerable to unscrupulous salesmen.

Indeed, one national British newspaper investigated the standard of financial advice being offered to expats and described the situation as a 'financial Wild West'.    more ...


Expat Focus

Expat Focus

Expat Focus Financial Update 22 Apr 2016



'Panama Papers' may not affect expats - yet

While few UK expats have been caught up in the Panama Papers scandal which revealed how the powerful and rich use tax havens to hide their wealth, they may be affected if there is a clampdown on offshore financial centres.

The fears come after a leak from Mossack Fonseca, a Panamanian law firm, which revealed how they helped clients from around the world store money in tax havens.    more ...


Expat Focus

Expat Focus

Expat Focus Financial Update 13 Apr 2016


Expat Focus

Expats face scrutiny after offshore data leak

The world's biggest ever data leak has spurred financial investigators into action to find out who has been hiding money in tax havens to avoid taxes and hide their wealth, with expats set to face closer scrutiny over their offshore assets.

The action follows the leaking of 11 million documents from Mossack Fonseca, a Panamanian law firm, which has been accused of helping clients launder their money, avoid taxes and dodge sanctions.    more ...


Expat Focus

Expat Focus

Don't Let Property Investing Become Too Taxing

Mark Dean
Mark Dean

This guest post is courtesy of Dean Mulally, Managing Director - IFA, UK & International at Mark Dean Wealth Management.

Investing in property seems the natural choice for many investors these days. But should you be buying actual bricks & mortar or are there smarter ways to invest in UK property?    more ...


Expat Focus

Expat Focus

Expat Focus Financial Update 04/04/16


Expat Focus

The most expensive cities in the world

The cost of living in a chosen city for an expat is a key piece of information to enable them to make a decision about their job's potential and whether they can afford to live there – but who can they rely on for accurate information?    more ...


Expat Focus

Expat Focus

Expats: Where To Earn The Best Money And Enjoy Life


Expat Focus

When expats move abroad for work they want to earn the best money and enjoy their new life, but which are the best locations for expats to enjoy both?

The question isn’t easy to answer since we all have different needs as well as expectations when we decide to follow a career path overseas. However, with surveys available of people who have already moved abroad, finding the most popular countries and cities is made much easier.    more ...


Tom Zachystal

Tom Zachystal

Why Your Brokerage Firm Is Freezing Your Mutual Funds (And What To Do About It)


Tom Zachystal

Over the last six years or so the US Internal Revenue Service’s initiative to catch tax evaders, known as “FATCA”, has inconvenienced thousands of law-abiding Americans living outside the United States by making it more difficult to open and hold both US and non-US bank and brokerage accounts.

FATCA, or the Foreign Account Tax Compliance Act, has gradually been implemented by US and non-US financial institutions and has resulted in the closure of many US brokerage accounts held by non-US residents. This is because in most instances FATCA has been implemented as an Inter-Governmental Agreement (IGA) that involves information sharing between the United States and another country with respect to financial accounts in one of the countries held by residents of the other country.    more ...


Expat Focus

Expat Focus

Save Or Invest? How Expats Can Beat Low Interest Rates


Expat Focus

One of the biggest motivations for moving abroad to work is for the enhanced income and opportunity to save lots of money. But in a low interest rate environment, should an expat save or invest?

There's no doubt that savers based overseas and in the UK have been on the receiving end of a raw deal for several years now, with interest rates barely helping an expat’s savings keep pace with inflation and certainly not after tax has been deducted.    more ...


Simon Hilton

Simon Hilton

Interview With Simon Hilton, Foreign Exchange Specialist


Simon Hilton

Simon Hilton is a senior foreign exchange consultant at World First specialising in assisting private clients and companies with their foreign exchange transactions. Simon is authorised by the FSA to offer foreign currency options.

Expat Focus: Simon, can you tell us a bit about your background and how you came to work for World First?

I have a BA hons degree from the University of Reading in History and Politics and joined the company in 2006. I have since undertaken regulatory exams and obtained FSA approval to advise our clients on hedging their foreign exchange risk.    more ...


Tom Zachystal

Tom Zachystal

Why Is My US Brokerage Firm Closing My Account?


Tom Zachystal

Many US citizens living abroad have recently been contacted by their US brokerage firms to inform them that their accounts have either been frozen such that they can no longer change their investments or that they need to close their accounts entirely.

Even large brokerage firms and banks such as Fidelity and Wells-Fargo in many instances no longer want to deal with non-US resident clients through their US offices. Often there is little in the way of explanation, just a letter in the mail or a phone call from a broker who is following instructions and doesn’t really understand the issue.    more ...