Bitcoin is money you cannot touch and only ‘virtually’ spend online, but the concept is attracting a lot of intention from investors putting up real cash to back the currency. Supporters see this as a sign of faith in the currency, but regulatory bodies are now taking a closer interest as interest grows. In the [...]
Investors have a chance of a glimpse at what Russian’s really think about life and money in their country with two new research projects. Russia’s quickly growing economy is bringing opportunity but also concerns for its population, according to the Ivanov index. The survey, which questions 2,300 people in 164 Russian cities which have a [...]
Shocking figures have revealed that 12% of British workers aged over 55 have not saved a penny for their retirement, says the government’s Money Advice Service (MAS). Around 8% revealed that they believed they may never have enough money saved to retire. The figures underline a serious apathy towards pension saving in the UK – [...]
The looming spectre of deflation is stalking Eurozone economies as prices continue to fall, say economists. The European Central Bank (ECB) is having less room to manoeuvre in a bid to stop deflation and Europe now faces years of economic struggle similar to Japan’s deflation-ravaged economy. Such a scenario will drag countries like the UK [...]
With growing numbers of countries around the world signing up to the Foreign Account Tax Compliance Act (FATCA), wealthy Americans may inadvertently fall foul of the law. However, by structuring their finances to cope with their FATCA obligations, they can avoid some tax problems. Investors should essentially take a three-pronged approach to avoid falling into [...]
A new gold rush is going on as hordes of desperate buyers – including expats – try to buy the precious metal in the United Arab Emirates as prices plummeted. Rumours abound that gold bars have been pulled from sale in Dubai and Qatar as gold fell to the lowest value in two years. Buyers [...]
Foreign brides are blamed behind closed doors in Whitehall for the government’s decision to scrap state pensions for spouses of British expats. The government is worried that internet charmers on dating sites are luring British male pensioners overseas – and in some cases the attraction of up to £66 a week tax-free paid by the [...]
An ongoing legal battle between HM Revenue and Customs (HMRC) and the beleaguered investors in Singapore QROPS will go another round after the High Court gave permission for a new legal challenge. Around 120 investors joined forces to bring a group litigation action against HMRC after the taxman handed them bills for 55% of their [...]
British expats are among thousands voting with their feet and moving elsewhere as Spain’s economy continues to struggle. Things are now so bad in the country that the stampede of deserting expats has registered Spain’s first population drop since 1857, when records began. With unemployment now running at 26%, the country’s National Statistics Institute has [...]
The number of British small businesses looking for financial backing under the Enterprise Investment Scheme (EIS) is on the increase, says one private equity firm. Rockpool Investments says that HM Revenue and Customs has given the green light to a growing number of EIS applications from firms looking to raise money. The scheme is designed [...]
Below is what happened in a week in Expats Finances, as reported on iExpats and from other places across the web. From iExpats: QROPS Help Swell Australia’s £1.3 Trillion Fund Boom With more than 1,120 pension schemes for expats and international workers with UK pension rights, Australia is home to nearly a third of all [...]
Australia’s health service is coming under increasing fire because it is now among the most expensive schemes in the world – and is leaving many expats with the dilemma over how to pay for treatment. Critics say the scheme is now so expensive that it is almost double the cost of health service schemes in [...]
Tax authorities in the US have been told to step up the hunt for taxpayers with overseas accounts after a report revealed how lucrative the move could be for the government. The report lists a number of recommendations from the Government Accountability Office (GAO) which could see many more taxpayers finding themselves facing hefty fines [...]
Expat job prospects are likely to improve as more than two-thirds of firms look to boost the number of short term assignments this year. Around 70% of companies are looking to deploy more workers overseas because of struggles in attracting and retaining talented staff for this year, according to recruitment firm Mercer. Those job deployments, [...]
The number of Qualifying Recognised Overseas Pension Schemes (QROPS) has reached a new record – pipped the previous peak in March 2012 by just one fund to hit the 3,002 mark for the first time. But the spread of QROPS schemes around the 46 financial jurisdictions offering the pensions shows 97% of all funds are [...]
Countries around the world are rushing to beat the deadline for implementing the controversial Foreign Account Tax Compliance Act (FATCA). The latest country to ink a deal with the US is Norway, but unlike many of the other countries who have signed up, the Scandinavian negotiators have managed to chisel a new deal. The Norwegians [...]
Growing levels of crime in India aimed at expats and tourists, particularly sex crimes against women, has seen the number of foreigners willing to move and work in the country plummet, according to a new survey. In addition, growing problems within the Indian economy is seeing demand for expat expertise also decline and looks set [...]
Spooked by the sharp downturn for gold, investors are turning their back on the commodity, according to a new report. The International Investor Attitudes report, which is compiled by financial services firm Friends Provident, says gold has dropped in popularity by 66% of investors surveyed in Hong Kong, Singapore and the United Arab Emirates. However, [...]
More realistic demands from sellers for luxury property prices in the British Virgin Islands have led to a strong market recovery, according to one real estate firm. Analysts say that in early 2011 the price for luxury homes remained flat but then picked up during the year as asking prices were reassessed to more realistic [...]
Firms offering to liberate a saver’s pension are being targeted as part of a further clampdown by HM Revenue and Customs with clarification of where complaints can be made. Many of those who would undertake pension liberation, which is gaining access to your pension pot before the age of 55, are being told by financial [...]
FATCA Critics Fears Arrest by US Authorities : The founder of a web-based platform which, amongst other expat issues, discusses the impact of the F...
FATCA Timeline After Deadline Changes : The IRS has pushed back the start date of FATCA – the Foreign Account Compliance Tax Act – from Janu...
EBT Ruling Hits Thousands of Banking Staff : Around 2,000 British employees of the US bank JP Morgan must pay income tax and national insurance c...
Interview: James Jatras, Lawyer and Anti-FATCA Lobbyist : James Jatras, a former US Diplomat and US Senate staffer, who now runs a legal firm in Washington D....
FATCA Closes Swiss Bank After Admitting Tax Evasion : The first big banking scalp has been claimed as US authorities enforce FATCA, a clampdown on financi...
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