Financial

US expats receive erroneous checks

May has seen reports of American expats who have renounced their citizenships getting CARES Act stimulus payments, in addition to foreign workers living overseas. Politico.com says that "thousands of foreign workers, many living overseas" have been receiving the stimulus checks - apparently sent in error "due to an unforeseen glitch" in the system used to choose who received the payments.   more ...

The biggest global news story in April has, of course, been Covid 19. The viral pandemic has impacted all aspects of expat financial life, from ease of business travel and meetings, to the problems of being furloughed or paying your staff, or suddenly finding yourself out of a job.   more ...

UAE expats hope for financial security

Global consultancy Mercer has released a report in the last month which shows that 45% of expats in the UAE either have no plans which will secure them a reasonable standard of living after they retire, or are planning on continuing to work. 61% reported having no long term savings, and 45% believed that their end of service benefits would be sufficient.   more ...

South African expats concerned about tax

The upcoming changes to South Africa's tax laws continue to cause consternation among South African expats. The new regulations will see South Africans abroad needing to pay tax on their global income, including benefits such as housing and education.   more ...

Isle of Man attracts expats

The government of the Isle of Man, off the coast of Britain, has recently implemented new measures to encourage expats to move to its shores. These include a National Insurance holiday scheme, enabling expats to take home up to 15% more of their gross pay than they would in the UK.   more ...

Australian expats remain concerned about new capital gains tax

The Australian government's plans to levy capital gains taxes on Australian citizens who own properties in the country but live abroad is still causing concern among expats.   more ...

by Oliver Heslop, UK Tax Specialist

Calling all Brits in the Middle East (and the USA, and Europe, and…)

The British State pension: Is this a dead duck, and do you as an expat ever think about it?

You can still be eligible and secure one. For many years (probably fifty), the UK government have honoured the state pension rights of British people living abroad, as well as anyone who worked in the UK for a few years (normally three or more).   more ...

Saudi Arabia Announces Continuing Fees

Saudi Arabia's fees for expats will continue to increase in 2020, according to the Finance Ministry. Currently, expats have to pay 300 SAR (£62 GBP / $80 USD) per month for any dependents they bring into the country. In 2020, this fee is slated to rise to 400 SAR (£83 GBP / $106 USD).   more ...

Preparations For South African 'Expat Exemption' Amendments Under Way

The "expat exemption" act has some considerable changes planned for March 2020. Under the new rules, expats' income will be taxable abroad, including any benefits and expenses they might have claimed.   more ...

Retiring Abroad 'Increasingly Unachievable' For British People

Brits who dream of retiring to sunnier climes are facing increasing difficulties when they try to do so, according to the Department for Work and Pensions.

The main reason for this is the deflation of the pound compared with other currencies, particularly the euro. Popular destinations with British expats, such as Spain, Portugal and the South of France, are no longer seen as affordable by many.   more ...