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Financial

Financial > Expat Focus

Expat Focus

Expat Focus Financial Update 21 April 2017

(c) Luis Llerena

(c) Luis Llerena

Saudi remittances fall

The struggling economy in Saudi Arabia has seen a steep fall in the amount of money being remitted to other countries.

Expats in the Kingdom sent home $2.87 billion (£2.25) in February, which is 15% less than was sent home in February last year, according to the country’s monetary authority.

Financial experts say the fall in remittances is down to the Kingdom's lower level of economic growth, including a fall in the activities of the country’s small and medium-sized enterprises, and suspended government projects.    more ...


Financial > Expat Focus

Expat Focus

Expat Focus Financial Update 12 April 2017

(c) geralt on Pixabay

(c) geralt on Pixabay

Most British expats in EU fear for their future

A survey of British expats living in the European Union has found that 80% fear they will be deprived of the right to live in their new country.

The survey of 5,000 citizens was undertaken by the Liberal Democrats and reveals that the expats’ automatic right to work in another country is their number one issue.    more ...


Financial > Expat Focus

Expat Focus

Expat Focus International Finance Update 05 April 2017

(c) William Iven on Unsplash

(c) William Iven on Unsplash

Number of EU citizens wanting work plunges

A survey has revealed that the number of citizens from the European Union looking to work in the UK has plunged this year.

The findings from Indeed reveal that there's been an 18% fall in the number of citizens who are looking for work online since January in the UK.

This is the sharpest fall of EU workers looking for jobs in Britain since the Brexit referendum vote last June.    more ...


Financial > Expat Focus

Expat Focus

Expat Focus International Finance Update 29 March 2017




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 ...


Financial > Expat Focus

Expat Focus

Expat Focus International Finance Update 23 March 2017




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 ...


Financial > Expat Focus

Expat Focus

Expat Focus International Finance Update 14 March 2017




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 ...


Financial > Expat Focus

Expat Focus

Do Expats Really Need An Offshore Bank Account?

(c) teegardin on Flickr

(c) teegardin on Flickr

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 ...


Financial > Expat Focus

Expat Focus

American Living Abroad? Here's How To File Your Tax Return




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 ...


Financial > Expat Focus

Expat Focus

Where Do The World's Highest Paid Expats Live?

(c) ByCosaPhotography on Pixabay

(c) ByCosaPhotography on Pixabay

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 ...


Financial > Expat Focus

Expat Focus

Expat Focus Financial Update 08 March 2017




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 ...