Week In Expat Money Matters June 22 – June 28, 2013


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

From iExpats:

Expat Savings Rates Are Sinking Fast
Savings rates for expats are sinking fast as interest rates show no signs of rising and central banks are engaged in a currency war

Barmy Brits Abroad Drive Our Diplomats Mad
Diplomats at British embassies and consulates around the world are flooded with mad requests by idiots and time wasters, according to a report from the Foreign and Commonwealth Office

Global Economy Still Bust Five Years After Credit Crunch
After five years of trying to shake off the effects of the worst financial crisis for decades, the world’s economy is still flat lining, says a leading research institute

Wealthy Chinese Could Set Off Higher Inflation In West
Increasing demand from affluent workers in China is triggering the country’s factories to increasingly make goods for the home market at the expense of overseas economies

Wealthy Brits Are Still Stashing Their Cash Offshore
Wealthy British taxpayers are keen to keep their money offshore, according to a new report

QROPS Rule Changes 2013 FAQ
Chancellor George Osborne has carried out his promise to toughen Qualifying Recognised Overseas Pension Scheme (QROPS) rules by publishing proposed new legislation and guidance for savers and scheme managers

Test Your Financial Knowledge To See How You Compare
An international study compared adult financial literacy across 14 countries shows just how basic most people’s knowledge about handling money really is

Gibraltar and Malta see new QROPS launches
Pension provider Boal hopes investors won’t turn a blind eye to their new Trafalgar Gibraltar Qualifying Recognised Overseas Pension Scheme (QROPS)

£1 Billion Pension Shock For Electricity Workers
The UK’s lights could go out after thousands of National Grid workers were told they may have to treble their pension contributions to tackle a funding shortfall.

QROPS Singapore Court Case, HMRC humiliated
The countdown has started for HM Revenue and Customs to issue a clear and unambiguous statement explaining QROPS (Qualifying Recognised Overseas Pension Scheme) rules for investors

Indian Expats Ignore Retirement Saving Advice
Expats from India living and working in the United Arab Emirates are poor at planning their retirement and are unlikely to seek professional financial advice, according to a new survey

Entrepreneurs Pitching For Investment Cash
Entrepreneurs desperate to raise cash for their businesses are looking to private investors to plug the funding gap left by banks unwilling to lend money

Wealthy Collectors Invest In British Postage Stamps
The humble British postage stamp is setting hearts aflutter as philately becomes the new investment of choice for the Asia Pacific. Millions of wealthy collectors are vying for the best examples, with demand pushing up prices of the most sought after postage stamps

Property Pain In Spain As Home Prices Set To Fall Again
The roller-coaster ride that is the Spanish property market has still not finished dropping as prices are set to plunge another 10%, says a leading investment bank

Rising Rents Don’t Make Homes A Good Investment
Rents in Latin America are going through the roof – rising at double the rate of USA

SEIS – the “Dragon’s Den” with Tax Benefits
Seed Enterprise Investment Schemes (SEIS) are a new initiative designed to encourage investment in small, early-stage companies. Investors are offered a better range of tax reliefs than the longer standing Enterprise Investment Scheme (‘EIS’) including income tax relief on their investment of up to 50%

Shale Gas Bonanza Triggers Global Hunt For Supplies
The US shale gas fracking boom which has seen the gas industry access previously inaccessible reserves has inspired other countries to follow suit

Wealthy Build Up Personal Treasure Troves
The wealthy value collect personal treasure like jewellery, fine art and antiques to form a sizeable part of their asset portfolio and the less developed their country, the more treasure they will hold

PMIs – Why They Are So Important For Investors
Finding the necessary information to making investments is key to generating profits but for many investors finding the data that the professionals rely on for their judgments is elusive

Property Investors Warned Off Giving Harlequin Cash
Britain’s consumer financial services regulator is urging investors to think twice before paying any cash to the beleaguered Harlequin group of companies

Which Is Better – A Property Fund Or Buy To Let?
If you don’t have the time or inclination to become a buy to let landlord but still want to invest in property, then a property fund may be right for you

Oil Exports Drive MENA Economic Growth
Massive investment in infrastructure projects across the Middle East and North Africa has pushed the region’s economies to outperform the weak global economy

No Going Off The Rails For Dubai Property Prices
As everyone knows there are only three factors to consider when buying a property – and they are ‘location, location, location’

Singapore Signs Up For FATCA
Singapore is the latest country to announce joining a controversial American law aimed at uncovering the secret financial assets of US taxpayers after the city state was criticised on the international stage

Tax Official Arrest Forces HMRC To Delay Film Case
A major tax investigation involving investments in movies like the Oscar winning The Queen is on hold following the arrest of a tax official. Starring Helen Mirren in one of her best-loved roles, the film cost around £10 million to produce but raked in more than £40 million at the box office

Profits And Growth – Is Japan On The Right Track With Abenomics
With the yen plunging in value by 20% since November, some economic experts are questioning whether Japan’s economy is going turning around as predicted

Financial News From Around The Web

Tender out for Lloyds and RBS share sale – Money Marketing

BlackBerry shares plummet 26% after posting unexpected loss – LA Times

Gold’s Price Plunge Not Met by Stronger Physical Demand – Motley Fool

Should you stick with a lifestyle pension– This is Money

How I plan to retire early – Money Week

Wall St. flat and on track to end seven months of gains – Reuters

Vatican official busted in shady money smuggling deal – New York Daily News

Free FATCA Guide for Our Readers


iExpats.com expert writers have created a simple guide to FATCA

Expat Guide to Understanding the Foreign Account Tax Compliance Act and ways to optimize your liability. A no-nonsense guide that will introduce investment and tax planning options and talk through the pros and cons. Download the free guide by following the link below

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