Expat Focus Financial Update April 2021

British expats in Spain British citizens living in Spain must now prove that they have an income of £21K in order to stay in the country. Given that the average British state pension is £6,500, an exodus of British expats from the country has been anticipated. A poll conducted recently by the Daily Express suggests … Read more

Expat Focus Financial Update March 2021

Additional stimulus for American expats In March, Congress passed the coronavirus relief bill: $1,400 per eligible taxpayer according to your Adjusted Gross Income. If you’re a US expat and you have already had stimulus assistance, then you will automatically receive this latest payment if you’ve filed your US taxes. However, some American expats are still … Read more

Expat Focus Financial Update February 2021

Amsterdam overtakes London as finance hub Amsterdam has overtaken the UK’s capital for the number of trades in January, the Financial Times reports. This is a direct result of Brexit: EU financial institutions can no longer trade in London, because Brussels does not hold that UK trading venues or regulators are of an equivalent status … Read more

Expat Focus Financial Update January 2021

Brexit and British citizens in the EU The big news for British expats resident in or travelling to the EU is, of course, that Brexit has now happened. We are past the transition period, having secured a deal on Christmas Eve 2020. Brexit, and particularly the issues of financial passporting, have already caused some significant … Read more

Expat Focus Financial Update December 2020

More banks announce customer account closures We’ve reported extensively on the closure of a number of bank accounts belonging to British citizens living in the EU. British banks have been closing accounts as a result of the cost and difficulty of passporting across each EU nation. This month, Nationwide became the latest bank to announce … Read more

Expat Focus Financial Update November 2020

Property in Singapore The Business Times of Singapore reports that overseas property investors (led by the Chinese and Indonesians) are increasingly purchasing property that is regarded as a home rather than simply as an investment. Property experts say that the 20% additional buyer’s stamp duty (ABSD) on Singapore property purchases has put the brakes on … Read more

Expat Focus Financial Update October 2020

Last month’s big financial news concerned the issue of British banks closing accounts belonging to UK expats in Europe. This has been a major source of worry to UK customers of banks such as Barclays. Accounts are being closed, because it is too complex and expensive for British banks to obtain licensing for financial services … Read more

Expat Focus Financial Update September 2020

The general trend to localise workforces continues to have an impact on expat finances, and indeed lives, across the world. Singapore is the latest country to tighten its criteria on foreign hires, due to concerns about the economic impact of Covid. This is despite the financial sector’s attention turning increasingly towards the region, as it … Read more

How To Open A Bank Account In Vietnam

The State Bank of Vietnam, formerly known as the National Bank of Vietnam, was first established in 1961. As the country’s central bank, it is responsible for a variety of duties, including: maintaining currency reserves, securing monetary stability, and managing the circulation of banknotes. It also regulates all other banks operating within the country. The … Read more