Expat Money News

Latest 10 news items tagged Money

21 Mar at 6 PM 2019

Costa del Sol police net expat drug smuggling gang

A gang of 10 French drug smugglers met their match in Mijas when a combined Spanish/French police raid ended their operations. The latest win in the war against drug smugglers in Spain has resulted in the major bust of a French gang transporting cocaine and marijuana between Algeria, Morocco and Malaga. Once on Spanish soil, the drugs were repackaged and hidden in secret compartments installed behind motor vehicle license plates. The arrests took place in Mijas, one stop on the route used by the drug smugglers. A successful joint...
19 Mar at 6 PM 2019

Bangkok now expat hub for online professional poker players

In spite of the fact that gambling is mostly illegal in Thailand, Bangkok is now being celebrated as a world hub for online poker-playing professionals earning enough money to keep themselves in a manner other expats can’t quite manage. According to media reports, moving to Thailand in order to play poker for a living is the latest fad amongst the expat professional poker-playing community. US pro players choose Thailand due to the sad fact their own country only has three states in which playing for money online is legalised,...
13 Mar at 6 PM 2019

Advice for British expats should no-deal become a reality

As the March 29 deadline looms closer and the British parliament becomes even more disorderly, a huge number of UK expats are still totally confused about the effect on their lives of a no-deal exit. Although the vast majority of EU member states have now reassured their British expat communities as to their rights in the event of a no-deal crash out of the EU, expats are still confused over many aspects of their lives. For example, expats who have money in British bank accounts and use their debit cards to access funds when needed...
13 Mar at 6 PM 2019

Cutting your expat retirement spend without wrecking your lifestyle

If you’re thinking of retiring overseas using your pension as your sole means of support, it’s wise to work out the best way to cut your spending once you’ve arrived. Understanding exactly where your monthly pension transfer goes is the first step in managing your money as an expat and even being able to save for the occasional treat. According to research in Europe and the USA, some 80 per cent of expat retirees’ monthly income is spent on food, clothing, housing, healthcare and transportation. Exact amounts depend on the...
7 Mar at 6 PM 2019

Scots expats as well as Brits feel abandoned in Europe

It’s not just English expats who’re seeing their plans changed and their lives disordered by Brexit, as two Scottish expat couples recently found out. The dark shadow of Brexit has been causing confusion, uncertainty and concern wherever in Europe Britons are working, but for a few it’s ruining the best moments of their lives. Scots expat Kirsten Mackay is living in Austria and was planning to briefly return home for the most important day in her life – her dream wedding day on March 30th. She and her parents had planned the...
22 Feb at 6 PM 2019

HMRC chasing expats for back taxes due on disguised remuneration loans

The British taxman is now chasing expats for back taxes due because of a rule change on disguised remuneration loans. Almost 2,000 unhappy expats have now received income tax demands related to disguised remuneration loans taken out almost 20 years ago. Some 50,000 active cases are now being investigated, with expats being sent awareness letters by HMRC in an attempt to recover around £3.2 billion in unpaid taxes. The regulator has already agreed payments totalling £1 billion in unpaid income tax and national insurance contributions...
22 Feb at 6 PM 2019

When is a QROPS not a QROPS – when it’s a ROPS!

Why does it seem that anything to do with pension transfers and other investments is invariably couched in its own mostly incomprehensible language aimed at confusing even intelligent expats? The answer is straightforward - it's all about the money received by IFAs in hefty commissions and charges for advice. British investors don’t get much help from the regulator, even when things go terribly wrong, as most product providers aiming at expat retirees are based outside the UK. According to the experts, few expats are clued up about...
15 Feb at 6 PM 2019

Expats in UAE queuing up for second passports and permanent residency visas

As expatriate professionals’ stability and security in the Arab States become more fragile, those with spare funds are rushing to get second passports. A major reason for choosing one expat relocation destination over others is the stability of the country and the security of the job itself as well as the required work visa. Even the most optimistic foreign workers in the UAE would now have to admit the current concentration on dramatically reducing the numbers of expats employed doesn’t represent security and stability. As a...
12 Feb at 6 PM 2019

Brit expats on Spain regret their leave votes whilst Brit ambassador ducks the issue

In a recent BBC Channel 4 News item, British expats in Spain who voted Leave in the referendum admitted they are now bitterly regretting their decisions. Some 300,000 British expats are at present living in Spain, divided into retirees, working professionals, SME owners and students or researchers at Spanish universities. The Channel 4 News report featured a number of Brits settled in and near Alicante on the Costa del Sol, with many admitting they’re now scared for their futures in their chosen country. One interviewee told the...
8 Feb at 6 PM 2019

Venezuelan sex traffickers targeting Brit expats in southern Spain

People-trafficking mafias in Venezuela are targeting the sexual services market in southern Spain, aiming their activities at expats and tourists. Articles in the British press are claiming prostitution arrest statistics are soaring, quoting an astonishing 12,000 per cent increase in victim numbers over the past four years. The modus operandum of the sex traffickers is straightforward, simply involving flying prostitutes from Venezuela to popular expat and tourist destinations and putting them to work. Alicante is a favourite hotspot...