Financial

In our update last month, we mentioned that there has been a growing trend for some countries, particularly in the Gulf, to limit jobs for expats. The COVID-19 pandemic has lent fuel to this fire, with most nations facing significant economic downturns.   more ...

Hong Kong’s expats are asking whether they should stay in the city state or go, after problems caused by Covid, political unrest and the continued high cost of living. The latest survey from global consultancy firm Mercer, which analyses the cost of living in around 400 cities, reports that Hong Kong is still the most expensive city in the world for expats, beating Singapore, which came fifth. (Ashgabat in Turkmenistan is second and Tokyo is third, followed by Zurich). Global relocation service Asian Tigers Group says that there has been renewed interest among expats planning to leave the city, now that Covid 19 itself is starting to fade.   more ...

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 ...