Offshore Banking, Savings and Investment News

News and information for expatriate and international investors and savers.

American Expats Left Out on a Financial Limb

FACTA is impacting on American expats’ financial freedom and is perhaps an indicator of things to come for all expats

American Expats Left Out on a Financial Limb

We receive many requests for information and advice from American expats reading our website.  They all want and need assistance with sorting out their increasingly complex financial affairs.  I say ‘increasingly complex’ because that is the reality for every single American expat…because of the US’s own extreme crackdown on money laundering and tax evasion that’s seemingly having a far bigger impact on the lives of normal expats than any potential criminal.

And the sad fact is this, if you’re an American living abroad or you’re an expat living in America we can’t help you.  And neither will any financially related organisation in Europe it seems.  None of the companies that we have professional connections with that offer British, European or even Australian or New Zealand expats regulated financial advice and solutions can offer even so much as an opinion about an American’s financial position.

As a direct result of the US’s crackdown on illegal money movements every single American expat has been left out on a financial limb.  The workarounds that these expats have to go to in order to get their hands on their own money is extreme.  But the worrying thing is that the American model is much admired by many in the UK and Europe.  So could these financial shackles be the future for all expats, no matter what their nationality and where in the world they want to live?

Read full article...

Help for Expats Struggling with Hotel Business Abroad

If you own an ailing expat hotel business abroad you can get help from the Hotel Inspector Alex Polizzi

Hotel Inspector for Expats

Many Britons dream of escape abroad – and one way of making the escape a reality is to take on a new business overseas, and turn your plans for a new life abroad into a practical reality funded by your hard work!  For anyone who has already taken the plunge only to discover that perhaps it’s not as easy as it once looked…help is now at hand!

The Hotel Inspector Alex Polizzi is set to return for a brand new series: and the show’s producers are looking for expat owners of struggling hotel, gite or B&B businesses overseas.  Chosen applicants will get the help of this exceptionally successful hotelier and hopefully be able to turn their ailing business around.

Fans of the show will be aware that this isn’t the first time Alex Polizzi has ventured abroad to help those in need of her no-nonsense style of approach to the hospitality business.  Previously Alex went to Switzerland.  Now the show’s producers are looking at the likes of Spain and Portugal’s Algarve region for struggling expat hotel owners who want Alex’s help.

Read full article...

How Expats May Unwittingly Face Criminal Charges in UK

HMRC wants to change the law to be able to brand an expat with inadvertent unpaid taxes a criminal with no grounds for mediation or settlement.

Expats Unwittingly Face Criminal Charges

HMRC is behaving like a wounded animal, it’s lashing out in confused and violent anger, attacking any soft target because of the pain it’s suffered at the hands of professional tax evaders. 

Rather than focusing on sorting out the real problems with the global giants which utilise poorly worded tax rules to move tax liability to non-tax-charging nations, HMRC is consulting on new rules to brand unsuspecting expats criminals – even in their absence from the UK tax system, and even in the absence of any criminal intent!

Yes, as confusing and even as nonsensical as that may sound, it’s the truth.  HMRC has an open consultation running until the end of October to try and pass measures that will enable it to levy criminal charges at the doors of those who may inadvertently have missed a declaration to the UK taxman of taxable income.

Read full article...

The Truth About Health Insurance for Expats in Turkey

Expats in Turkey have been left confused by the government’s changing policies relating to compulsory health insurance.

compulsory health insurance turkey

In June the Turkish government decided to change the rules relating to the requirement of all expats to have compulsory health insurance if they wanted to gain residency to live in Turkey.  Now, if you’re over 65 you no longer have to have medical insurance in place – however, was taking this step a sensible one?

British expats like to play by the rules if they possibly can – it’s the British way!  But a country like Turkey can try the patience of a saint…let alone a British expat who wants to remain on the right side of the law when attempting to gain or retain residency to live in Turkey.  The confusing rules about who must have health insurance and where they are allowed to buy it from have been creating a lot of difficult for many expats.

Those who are considering moving to Turkey have apparently been put off the nation because of the expensive addition of the medical insurance requirement to the whole relocation business.  And some living in Turkey already who have taken out expensive medical insurance now believe they needn’t have done so.  So, for the record, we will explain the truth about compulsory medical insurance for any expat/would-be expat who wants to go and live in Turkey.

Read full article...

Expats May Lose UK Personal Tax Allowance: Act Quickly

Could you be about to lose £4,000 income a year? Here’s how can you fight back and protect your position.

expats to lose personal tax allowance

The British Chancellor first introduced the question of whether British expats should be exempt from benefitting from the UK’s personal income tax allowance in his March 2014 Budget.  Since then the idea has been relatively well-documented in the media, therefore many expats are already aware of the threat to their UK sourced income.

However, now is the time for all expats to take direct and decisive action against this threat by taking part in the government’s current consultation on the matter.  Expats and other interested persons have until October the 9th to get involved by sending their responses to consultation questions to the Specialist Personal Tax Consultation team at
HM Treasury. 

In this article we will lay out the threat to your income, and everything you can do about it.  From getting involved in the consultation process, to restructuring your income producing assets, from selling UK property to moving your pension abroad for example.  The majority of those in the expat financial services and international taxation industries with whom we’ve spoken are in no doubt that expats will be affected by this proposal – and that the loss of the UK personal income tax allowance or expats is inevitable…which means you need to protect your position now.

Read full article...

How Mature Single Women Can Find a New Life Abroad

If you’re looking for adventure abroad and you’re a woman aged 50+ granny-aupair could be your way forward!

mature women abroad

In theory no single woman should ever let any restriction prevent her from realising her dreams of travel or a new life abroad.  But in reality there are many hurdles that really do stop women from travelling freely or safely. 

For one particular group of women the hurdles actually increase beyond the most obvious ones.  If you’re over 50 you have the additional issues of health insurance becoming increasingly expensive, and work and residency visas becoming harder to get for example.

Thankfully one woman who faced this reality personally has taken it upon herself to create a solution for all mature single women who want to live or work abroad.  Her name is Michaela Hansen and her website is called Granny Aupair, and it aims to connect women with families abroad who want and need the support of a mature individual who has a passion for caring for children.  So if you want to go abroad perhaps this could be your way forward?

Read full article...

How to Always Get the Best Interest Rates on Savings

Forget setting interest rate calendar reminders - here's how to get a better rate and barely lift a finger!

getting better interest rate

Yesterday I touched on how low interest rates can erode your savings.  Everyone who has any money on deposit in savings is already acutely aware of this problem – because historically, interest rates have never been quite so bad for quite so long!

Because all banks need a certain amount of money on deposit however, and because all banks are always chasing new customers, there will always be headline rates of interest available at certain times for new accounts.  To benefit you have to be a headline rate chaser, who has a calendar with reminders of when you need to start looking for accounts with new rates to move your money to.

This is a tedious and poor returning task.  The good news is that there are better ways to go about this.  But you have to trust others to help you.  Let me explain…

Read full article...

8 Risks Destroying Expat Savings

the 8 risks expats face when trying to look after their money abroad...and how to protect against them

expat money risks

As an expat you’re exposed to many more potential risks when it comes to the management of your money.  For example, you might have money in a bank account in a country with no investor protection scheme.  You might unwittingly have chosen to bank with an unstable institution.  Or maybe you live in a country where it is impossible to take money out if ever you want to relocate or go back home.

Other risks you may be facing include anything from inflation to taxation.  However, as long as you understand all the risks in place you can work around them.  Knowledge is the key to keeping your money safe abroad.

In this article I’m going to explain to you the 8 main risks that are destroying expats’ savings across the world – and I will show you ways you can protect your own money, so that you and your family, and even your future generations are protected.

Read full article...

Complete UK Limited Company Formation Service for Expats

Are you non-resident in the UK but in need of a UK limited company and a bank account? If so we can help – with a pre-approval guarantee.

uk company for expats

Some things in life are so complex that just trying to get your head around them may have you wishing you hadn’t bothered to get up that morning!  For expats anything relating to the international management of money can be a nightmare.  If you have tax liabilities in more than one nation for example, as so many expats have, just filing accounts can be more like a migraine than a headache…

And if you need to manage business interests in more than one country, and all of the financial implications of that, I don’t know about you but that would have me heading back under my duvet!  The good news is we have discovered – and tried and tested – a complete UK limited company formation and management service for expats.

It takes the complete nightmare out of the following scenario: you’re an expat, non-resident in the UK, and you need to have a UK company solution in place for whatever reason.  You need to establish and run a company, get a bank account and maintain an office address for the tonnes of inevitable correspondence from HMRC for example…and you’re coming up against hurdles all the time.  Well, not anymore!

Read full article...

What’s Stopping You Moving Abroad?

Would you like to move abroad? What’s stopping you? Money or confidence?

what's stopping expats moving

The most up to date statistics and figures we can get our hands on show us that there has been a sharp decline in the numbers of Britons moving abroad recently.  The numbers we have are from 2012 and they show us that there has been a reduction in the number of Brits expatriating…to the tune of about 26,000 compared to the previous year if you look at working age Brits alone.

The fact is that in 2012 286,000 people left the UK for a new life abroad – which was actually the lowest number of emigrants since 2001.  Of these, 126,000 were British citizens – a figure well below the decade long average of 152,000.  So what’s stopping Britons from expatriating?

Have we fallen out of love with the dream of a new and better life abroad?  Can we no longer afford the dream?  Or is it a case of the desire and willingness being there but the affordability and employment options letting would-be expats down?  Let’s look at the evidence…

Read full article...

Page 1 of 160 pages  1 2 3 >  Last ›

Shelter Offshore Recommends Lloyds Bank International...

...because we can see that they are working hard to give expatriates what they really need. At Shelter Offshore we understand that expats need a bank that offers them an affordable, comprehensive, accessible and truly flexible service, and we recognise that Lloyds Bank International fulfils all of these criteria.

We suggest you check out their range of products and services, because they have obviously been developed with expats in mind.

Find out more about expat banking with Lloyds Bank International AdvertisementClick Here!....