Expat Money News

Latest 10 news items tagged Money

12 Jul at 6 PM 2019

Brit expats caught running illegal taxi service at Malaga Airport

British expats have been caught running a pirate taxi scheme in Malaga. Local police in Malaga are now monitoring Malaga Airport’s arrivals exit gates in an attempt to stop enterprising British expats from running their own illegal taxi service. Last month, one Briton was arrested and given a large fine for offering ‘lifts’ to hotels in the popular holiday resort for a cash payment. The offender attempted to escape when the Spanish boys in blue caught him picking up a customer for a trip to Gibraltar. On the same day, three...
10 Jul at 6 PM 2019

Wealthy would-be expats can go it alone for residency and citizenship

As the world becomes more politically and economically unstable, more and more wealthy would-be expatriates are getting caught by smart salesmen. The trend of internationalising is the latest way for wealthy nationals to ensure their capital, investments and even businesses are safely stored against economic disaster whilst they continue their lives in another country. For high net worth individuals, becoming a global citizen is the way to go, but taking wealth out of the country of origin requires dealing with key issues. The...
8 Jul at 6 PM 2019

Is Vietnam the answer for fans of Southeast Asia?

As the rush to discover a new, expat-friendly paradise on earth ratchets up, Vietnam’s position in the latest survey has soared to 10th place. During the past decade, Vietnam’s popularity as an expat destination has been steadily growing, especially with those already living outside their countries of origin. On offer is stunning scenery, friendly locals, a lively culture and a delicious, healthy cuisine. Affordability is good, and a positive work/life balance creates the perfect ambience for expats sick of ever-changing visa...
5 Jul at 6 PM 2019

Sihanoukville Chinese invasion sends expats packing

The Chinese invasion of Sihanoukville feels like a rape of Cambodia’s culture and history. Once upon a time in a land far away, a beachside town was home not only to its local residents but also to expatriates of all shapes, sizes and nationalities, drawn by its charm and friendliness as well as its history as a favourite summer holiday destination for city folk from Cambodia’s capital Phnom Penh. Sadly, fast-forwarding to 2019 reveals a totally different story due to the ambitions of a totally different neighbouring country....
5 Jul at 6 PM 2019

Are the ultra-wealthy departing Hong Kong for politically stable Singapore?

Upscale wealth management companies are now shunning Hong Kong in favour of Singapore. International wealth management firms planning to open in Hong Kong are changing their minds and heading for Singapore as a result of continuing public unrest over the new extradition bill. The news comes as no surprise, as their wealthy would-be expat clients are already pulling their investments and stashing them elsewhere for the same reason. According to Reuters, one mid-sized private investment advisory company has given up its plans for a...
28 Jun at 6 PM 2019

Amazing OAP expat couple’s charity drive from France to Buxton succeeds!

John and Kathy Elliot’s charity drive from southwestern France to the Derbyshire town of Buxton in a vintage tractor has been a total success! The pair’s 900-plus km journey in their reconditioned vintage farm tractor was undertaken to raise money for research into Motor Neuron Disease after a close friend died of the distressing condition. Their 1957-vintage tractor has a top speed of around 15 miles per hour, with the journey taking 78-year old John and his 76-year old wife two full weeks of travel at an average of 100kms a day....
27 Jun at 6 PM 2019

Lloyds Bank Jersey freezes expat accounts

Some 8,000 offshore Jersey-based expat accounts held at Lloyds Bank have now been frozen as part of an attempt to curb money laundering activities. According to a spokesperson from Lloyds offshore division, the closed accounts represent less than five per cent of accounts held at the bank by expatriates. The decision was made due to account holders’ reluctance to provide full details of their identity, a request which was made some three years ago. According to the bank’s representative, Lloyds has made repeated attempts to get the...
26 Jun at 6 PM 2019

UAE gold card residency visa scheme welcomes Indian expat applicants

As the Saudi green card residency scheme gets underway, the UAE’s version now has 400 expat gold-card residency visa holders. Last month saw the unveiling of the UAE’s 10-year renewable permanent residency visa, granted to date to some 400 wealthy expatriates, all of whom along with their families can now enjoy freedom of movement, employ three workers and get a residency permit for a senior manager, advisor or employee. Those in line for the visa must be ‘exceptional professionals’ in sectors including science, art...
26 Jun at 6 PM 2019

Brit expats counting the pennies as sterling sinks

Whilst British expat retirees are counting the pennies, multinationals relocating staff to London are cashing in on the weak pound. By now, it’s a well-known fact that British retirees in popular EU retirement destination are having a hard time making ends meet due to the falling pound, but many don’t realise that companies sending expat staff to the UK are saving money for the same reason. In the 2018 annual surveys, London was the 19th most expensive world city for relocating expats, but this year’s rating for the capital is...
25 Jun at 6 PM 2019

Oman sets up counselling service for troubled expat marriages

It’s sad but true that relocations with trailing spouses can lead to divorce, but getting relationship advice in a strange land with an even stranger language isn’t easy. Cultural differences aren’t easy to adjust to, especially for trailing spouses who’ve given up on their own careers to follow their partners half way across the world. It’s especially tough if the destination is one of the Gulf States, as the status of women is dramatically different than its equivalent in Western countries, thus making it harder for new...