Expat Life Insurance News

Latest 10 news items tagged Life Insurance

10 May at 6 PM 2019

Expat owners of UK property warned over inheritance taxes

As property prices in the UK continue to soar, expat Brit who own homes or buy-to-let investments back home are being warned about liability for inheritance taxes. During the last financial year, rising house prices have meant thousands more taxpayers have been dragged in the inheritance tax net, even although a good number had no idea they’d become liable. As a result, the British taxman was richer by a record haul of some £5.2 billion, and this amount is set to go on rising as property becomes ever more expensive. Last month,...
15 Apr at 6 PM 2019

Mega financial scammer IFA boss fails to attend Spanish court hearing

The boss of a failed financial advisory company in Alicante is in hiding, having failed to attend a Spanish court hearing. Darren Kirby’s Alicante-based Continental Wealth Management financial advisory company folded in 2017, leaving hundreds of investors out of pocket to the tune of millions. Continental Wealth Management’s Denia office in the Marriott Hotel was an upscale setup aimed at impressing future clients, with the company also managing up to 10 telesales staff dealing with expat clients across Europe. Its modus operandum...
18 Apr at 6 PM 2018

Spanish Banco Sabadell refuses storm damage insurance payment to Brit pensioner

A British pensioner living in Malaga’s Alhaurin el Grande has been refused an insurance payment for her storm-damaged gate. British expats moving to Mediterranean retirement hubs are often concerned about the reputations of European insurance companies, whether for health, home coverage or life insurance. There’s the language problem to be dealt with, and making a claim is often a nightmare for elderly expats. Even using insurers linked to or recommended by a local bank can go wrong, as 80-year old Sylvia Rush found when her gates...
31 Jan at 6 PM 2018

Misselling of financial products by dodgy IFAs still rampant in the UAE

In spite of UAE regulations on compensation for financial irregularities involving investments, expats in the UAE are still at risk from dodgy IFAS. A recent report in Dubai’s English language media confirms many expats living and working in the Emirates are losing tens of thousands of dirhams to unprincipled independent financial advisors. One British lawyer who’s lived in Dubai for 11years tells it like it was when, around a year after he’d arrived, he was mis-sold a regular savings pension plan by a rogue expat presenting...
9 Nov at 6 PM 2017

British expats in Spain lose €20 million after IFA firm collapses

The British boss of a failed pension advisory company has fled to Australia after losing his British expat clients some €20 million by the use of an all too familiar scam format. The 300 Brits who’d invested with Alicante-based Continental Wealth Management are mostly expats living in the popular Spanish resort of Alicante, and are now struggling to retrieve their lost money after the IFA firm closed its doors in September and its CEO Darren Kirby left for Australia with his ill-gotten gains. Those affected, spread across Spain...
6 Oct at 6 PM 2017

What to do when a UK expats dies abroad

With retiring outside the home country becoming ever more popular, it’s common sense to be aware of protocols needing to be followed when a UK citizen dies abroad. Death isn’t considered a suitable topic of conversation for many, including elderly expats, but according to the old saying it’s as inevitable and unavoidable as income tax. At least for the sake of their friends and families, older expats should at least leave a list of must-dos in the event of their demise. After all, there are only two options to be decided,...
1 Aug at 6 PM 2017

UAE central bank clamps down on mis selling of expat investments

The UAE’s Central Bank is being praised for its recent clampdown on the mis-selling of unsuitable investments to the emirates’ expat community. The Central Bank began its attack on unscrupulous sales of dodgy investment plans to its expat population by instructing finance companies and banks under its jurisdiction to amicably settle mis-selling complaints within a period not exceeding 90 days. The notice was issued in response to the ever-increasing number of complaints about investment and savings products being offered to...
25 Apr at 6 PM 2017

How to avoid common expat financial mistakes

Wherever in the world you’re planning to go and whatever your financial status, there are common money-related mistakes made by almost all expats when they move overseas. Obvious financial must-haves and must-do’s aren’t included here, as most expats are aware of the need to save as well as spend, plan for retirement and allow for unlooked for medical emergencies by having private insurance. Unfortunately, ignoring the less obvious errors of judgement can easily lead to money problems for even the most careful expatriate....
28 Feb at 6 PM 2017

New law enforces inheritance tax on UK expat properties

A new UK law due to be introduced on 6 April means the families of deceased UK expats will be forced to pay 40 per cent of total property and asset values in inheritance tax. The rule will apply to non-UK domiciled investors who’ve purchased UK property via an offshore corporate structure and will overturn previous laws on the issue. Prior to the new law’s introduction, property holdings acquired in this manner by non-domiciled UK citizens were exempt from inheritance tax when the expat owner dies. The offshore corporate structure...
6 Feb at 6 PM 2017

New FCA alert focuses on domestic and international investment irregularities

The British Financial Conduct Authority is planning to crack down on both domestic and international investments and pension transfers, in a move which may benefit expats in the UAE as well as in the rest of the world. Information on the long overdue move by the FCA comes in the form of an alert based on the growing number of expat investors being persuaded into unsuitable products or downright scams. Over the last decade, the worldwide Brit expat community, many of whom are retirees unused to investing, has been at risk from...