Week In Expat Money Matters August 9 – August 16, 2013

Below is what happened in a week in Expats Finances, as reported on iExpats and from other places across the web.

From iExpats.com:

Cyprus Swiss Franc Mortgage Scandal Court Challenge

Thousands of expats and second homers who bought property in Cyprus with a Swiss Franc mortgage are facing a crackdown by banks demanding their money back

£80m Boiler Room Share Scammers Jailed

Scammers who conned investors out of £80 million in a boiler room share con spent the money on an extravagant luxury lifestyle

Saudi Nitaqat Starts To Bite For Expat Contractors

Expats working in Saudi Arabia for firms with government contracts are finding their employers want to sack them to take on local workers. The Saudi government appears to be exerting pressure on employers not to renew expat contracts

Bank Of England 0.5% Interest Rate And Jobs FAQ

So new Bank of England governor Mark Carney has settled into his new chair and is ready to make his mark on fiscal policy

Wealthy Asians Have Designs On Luxury Brands

The rise of affluent middle class and wealthy consumers in Asia seem to have an insatiable appetite for luxury designer brands that keeps growing despite economic slowdown in the region

New Breed Of Expats Move Away From Europe

Online technology is helping British expats to shun close-to-home destinations to move further afield to many new destinations. Australia is still the favourite place to go, with Canada second – but new places like Dubai, Hong Kong, Singapore and China are gaining momentum with expats

Spotlight Flickers On To Faltering Russian Economy

As growth slows down in China and India, the spotlight is starting to focus on other BRICS economies that might be faltering as well

Can Expats Claim Free Medical Care With An ETHIC?

Many expats are confused about healthcare and what they can claim with a European Health Insurance Card (EHIC)

Killer Roads Are A Major Risk For Expats

Bad driving and poor traffic laws are one of the major risks for expats – and many do not have the right private healthcare policies to deal with road injuries

10 Things To Stop Buying If You Want To Get Rich

If you want to get rich, you have to start thinking like someone who has money – and that means not wasting cash on stuff you don’t really need

Tech Catapult Centres Win Extra Funding

The government has stretched a budget for technology and innovation catapult centres to fund two more specialist hubs and to increase the budget for another

New Zealand QROPS And The New Pensions Amnesty

The long-promised review of New Zealand tax on offshore pensions proposes new rules that make QROPS tax matters for retired expats easier

Suspected Pension Fraud Schemes Frozen By Regulators

The pension liberation war between regulators and rogue advisers has hotted up again with new court action to seize the assets of four schemes

Transferring a UK Pension Into QROPS? Seek International Advice

When moving abroad, many pension holders choose to transfer their fund into a Qualified Recognised Overseas Pension Schemes (QROPS)

Work Pensions Fail To Win Special Status Safeguards

British retirement savers with workplace pensions in firms that go bust have lost their financial protection in a landmark court case

QROPS List – August 15, 2013

The international QROPS market was boosted to yet another new peak, according to the latest HM Revenue and Customs list of pensions

Record investment in ISA – Junior ISA accounts also surge

ISA stats released by the Government show a record £57 billion was invested in the April 2012 to April 2013 tax year

FATCA And FBAR Fears Of US Expats

Fear of the Foreign Account Tax Compliance Act (FATCA) is forcing Americans around the world to reconsider what they tell the tax authorities about their financial affairs

Don’t Put Your SEIS Tax Breaks At Risk

Investors can earn some significant tax breaks by investing in new start businesses via the government’s flagship Seed Enterprise Investment Scheme (SEIS)

Britain’s Most Wanted Tax Crooks Named And Shamed

Britain’s most wanted tax fugitives are named and shamed on a new list of HM Revenue and Customs most wanted

French CGT rethink brings back wealth property buyers

Wealthy investors are rekindling their interest in French property now the government has clarified capital gains tax laws

Chancellor To Shake Up Travel Expenses In Budget 2014

British expats still paying tax in the UK but working overseas are in for an expenses and benefits shake up

£1 Million Fines For Tax Avoidance ‘Cowboys’

The government is taking on the firms who promote tax avoidance to wealthy investors with stiffer penalties of up to £1 million and a ‘name and shame’ policy for the architects of failed schemes

Bank Aiding Americans Evade Tax Pays £15m Penalty

A Liechtenstein bank is paying a £15 million penalty to the US government after admitting helping American expats evade tax

Bitcoin Is At The ‘Wild West Frontier’ Of Crime

Virtual currencies like Bitcoin are under a very real threat from regulators as New York State moves to curb their appeal with criminal gangs

Financial News From Around The Web

End of contracting-out will lead to more DB closures – Pensions World

Brits going to extremes to save money – Moneyfacts

Savings deals of the week – Which?

UK risking new house price bubble – economists – IFA Online

How to help your child through university – Lovemoney

Indian customs crack down on expat gold smuggling – Arabian Business

Cayman And US Conclude FATCA Negotiations – Low Tax Net

The case for QROPS and QNUPS – IFA Online