QROPS For Expats In Countries With No Providers

QROPS For Expats In Countries With No Providers

Don’t panic if you are an expat who wants a Qualifying Recognised Overseas Pension Scheme (QROPS) but live in a country without a provider. The United Nations lists 188 member nations – but the HM Revenue & Customs (HMRC) QROPS list has only 43 financial centres offering offshore pensions for expats and international workers from […]

Seed Enterprise Investment Scheme Loss Relief

Seed Enterprise Investment Scheme Fund Success

The Seed Enterprise Investment Scheme (SEIS) gives a sound financial platform for start-up businesses looking for funding and a massive hedge against risk for investors. But while every investor hopes they have struck gold by backing a new company that will hopefully deliver at least a return of 2.5 times investment, the fact is most […]

Surge In US Expats Returning Passports Due To FATCA

Surge In US Expats Returning Passports Due To FATCA

The cost of renouncing US citizenship has gone up with the introduction of the new Foreign Account Tax Compliance Act (FATCA) tax reporting rules. Many US expats are unhappy with their government because of special tax rules. The US is one of few nations to tax expats on their worldwide income – including earnings generated […]

Expats Thrown A Banking Lifeline

Expats Thrown A Banking Lifeline

Help may be at hand for British expats in a muddle over holding a UK bank account. The European Commission has stepped in to the row alleging banks failing to open accounts on the grounds customers live outside the country may be breaching their human rights. Banks and credit card companies have cracked down on […]

Week in Expat Money Matters 22nd September – 28th September 2014

Below are the articles from last week, documenting events from the world of expatriate finance, as reported on iExpats and from other places across the web: From iExpats.com: Black-Listed Expats Face Ban From Gulf States Anybody that gets deported from one of the six members of the GCC now faces an extension of the ban […]

Expats Shun UAE Banks To Send Cash Offshore

Expats Shun UAE Banks To Send Cash Offshore

Expats are shunning banks in the United Arab Emirates in favour of keeping their cash back in their home countries. Almost half of expats questioned for a survey stated they preferred banking their cash outside the UAE as they had more confidence in banks that they know at home. UAE banks have around £63 billion […]

Expat Savers Hedging Their Bets With Variable Rates

Expat Savers Hedging Their Bets With Variable Rates

Expats are hedging their bets against interest rates by shunning fixed term saving accounts in favour of variable rate accounts. Fixed term rates remain static, with only the Newcastle Building Society launching a new two-year bond of 1.85% for a minimum £500 deposit. Savers and lenders are hesitant about committing to fixed term rates because […]

How SEIS Is Boosting Start-Up Company Investment

How SEIS Is Boosting Start-Up Company Investment

The impact of the Seed Enterprise Investment Scheme (SEIS) funding for start-ups is starting to show as businesses plug in to the new source of alternative funding. More than 2,000 companies have raised around £2 billion in equity cash from investors, according to HM Revenue & Customs (HMRC), which monitors SEIS. The cash is boosting […]

Expats Salaries To Rise 5% Across The Gulf

Expats Salaries To Rise  Across The Gulf

Expat salaries across the Gulf States are expected to rise by nearly 5% by the end of 2015, says a new report from industry experts. The figures are slightly better than this year’s average 4.6% pay increase, according to a survey by human resources consultancy Aon Hewitt. Pay increases are likely to be higher in […]

Higher Savings Rates On The Way, Says Carney

Higher Savings Rates On The Way, Says Carney

Bank of England governor Mark Carney has revealed an interest base rate rise is nudging closer as the economy improves. He explained that the decision is based on a formula taking into account unemployment and the cost of living. The base rate is likely to climb from 0.5% when the UK jobless rate slips below […]

QROPS & Local Government Pension Schemes

QROPS & Local Government Pension Schemes

As more expats become increasingly alarmed at the damage austerity measures are doing to their UK-based pensions, they are seeking alternative options, Qualifying Recognised Overseas Pension Schemes (QROPS) are witnessing a huge surge in transfers. Those expats with LGPS still based in the UK could previously have been forgiven for assuming their retirement funds were […]

Genome Mapping Just The Tonic For Drug Companies

Genome Mapping Just The Tonic For Drug Companies

Medical advances that are leading pharmaceutical firms to manufacture drugs that have no generic substitutes mean investors could reap big profits. Many fund managers and investors have steered away from drugs companies over the past decade as patents on their biggest earning products lapsed and allowed competitors to make cheaper and effective rival products. But […]

QROPS Tracker – September 1, 2014

QROPS Tracker

HM Revenue & Customs (HMRC) fortnightly list of Qualifying Recognised Overseas Pension Scheme (QROPS)  gives no clue as to where the money goes but does help expat retirement savers see the movers and shakers in the world of offshore pensions. But just because one financial centre has a lot more QROPS than another does not […]

Retired Couples Have Saved More Than They Need

Retired Couples Have Saved More Than They Need

Despite fears of a lack of saving and pension and investment slumps due to the credit crisis, many couples retiring over the past 10 years have saved too much for their later years, say financial experts. Looking at the retirement savings of couples born in the 40s, economists at think tank the Institute of Fiscal […]

8 Ways To Limit Investment Risks

8 Ways To Limit Investment Risks

Any investment comes with risk – and identifying and managing that risk often marks the difference between a good and bad investment. With that in mind, here are eight key points that investors should consider before parting with their hard-earned cash: Balance risk and reward The first rule is do not risk any money you […]

Black-Listed Expats Face Ban From Gulf States

Black-Listed Expats Face Ban From Gulf States

The Gulf States are set to become a no-go area for black-listed expats as governments discuss barring deportees from one state from all six states. Gulf Cooperation Council (GCC) labour ministers are meeting in October to discuss the proposal in more detail. The aim is to set up a shared database of deported expats and […]

Visa Scheme For Wealthy Investors Scrapped

Visa Scheme For Wealthy Investors Scrapped

The Maltese government has scrapped special residency rules for wealthy Europeans but hailed a disappointing uptake as a success. After a series of problems which saw potential residents leave the Mediterranean island or join rival residency schemes, many of the rules left in place have been revamped. Now Europeans come under the same residency rules […]

Argentinian Peso Under Pressure Again

Argentinian Peso Under Pressure Again

The Argentinian peso was the most under pressure currency during the past year and the country’s finance may worsen still more yet. Foreign exchange levels have plunged to such low levels that devaluation may be on the cards. The peso has dropped to crisis levels after the government defaulted on loans taken out to underpin […]

Fire Service Pensions at Risk, Expats look to QROPS

Fire Service Pensions at Risk

As efforts continue to try to resolve the long-running debate over the continual fire service pension changes, many former firefighters are opting not to hang around and wait for the outcome, rather get their savings out of the uncertain and unstable scheme sooner rather than later. This option is currently being explored by ex-firefighters now […]

Week in Expat Money Matters 15th September – 21st September 2014

Below are the articles from last week, documenting events from the world of expatriate finance, as reported on iExpats and from other places across the web: From iExpats.com: Cheap Money Keeps Rates Down For Expat Savers Interest rates on savings are at their lowest for over two years as banks don’t currently feel the pressure […]