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HMRC muddying QROPS waters on suspicion of dodgy jurisdictions

News reports originating in the Gibraltar media suggest Britainâ??s HM Revenue and Customs department is planning to demand reaffirmation from registered jurisdictions that they are complying with UK legislation. The latest HMRC list of QROPS providers came out at the beginning of this week, unusually unannounced by the authority. Five... Expats Blog -

Fraudster couple in Spain steal expat rental deposits and flee to Italy

Expats living in Spain and Gibraltar are urging local police to act after a couple fled to Italy with expatsâ?? rental deposits totalling thousands of euros. Convicted fraudster Natasha Lambert and her partner in crime Marco Molinari fled to Italy earlier this month to avoid furious expats whoâ??d been cheated out of their rental... Expats Blog -

Trump presidency causes huge rise in Americans renouncing citizenship

Trumpâ??s first 100 days as President has, according to official figures, caused a massive rise in the number of Americans renouncing their citizenship and becoming permanent expats. As the Trump administration struggles to find anything to celebrate about The Donaldâ??s first 100 days as US president, the thousands of Americans whoâ??ve... Expats Blog -

Venezuelan riots cause oil giants to relocate expat workers

The political turmoil in Venezuela is forcing multinational oil companies to reduce the numbers of expat employees in the country. Venezuela has a large expat community, with the majority of its foreign professionals working for multinational companies in the oil industry. Most live in the capital, Caracas, or in Puerto de la Cruz,... Expats Blog -

Internet speeds and costs in expat hubs

Keeping in touch with this fast-changing planet is now essential for the majority of expatriates and requires fast internet connections which donâ??t cost the earth. Once upon a long time ago, adventurous expats left their home countries to lose themselves in new cultures or to work in exotic locations theyâ??d previously never heard of.... Expats Blog -

Panama tightens immigration rules for expats

The popular retirement destination of Panama may not be so welcoming in the future, as its government has tightened immigration rules in order to control foreign access to the country. According to local media reports, the Panamanian immigration authority is tightening a number of rules and bringing in new laws relating to foreigners who... Expats Blog -

British Home Office tells EU expatriates not to apply for permanent residence

EU citizens desperate to retain a legal foothold in post-Brexit Britain have been told by the Home Office to forget about trying for permanent residency as itâ??s been â??overwhelmed' by the number of applications received to date. The huge number of applications made by EU nationals wanting to continue working and living in the UK has... Expats Blog -

Warnings about QROPS pension scammers still hitting the headlines

Due perhaps to the soaring popularity over the last decade of the Qualifying Recognised Overseas Pension Scheme (QROPS) and its benefits for those on private pensions, the numbers of pension scammers taking advantage of financial novices have also shown a massive increase. QROPS are based outside the UK and must meet stringent conditions... Expats Blog -

EU leaders toughen Brexit terms as French lawyer attempts to block referendum result

At the same time as EU leaders toughen their stance on Brexit, a French lawyer is urging UK expats who were unable to vote in the referendum due to the 15 year rule to contact him with their thoughts on how Brexit will affect them. Bordeaux-based lawyer Julien Fouchet is preparing a legal attempt to prove the Brexit referendum was illegal... Expats Blog -

Dealing with Delinquent FBARs – The Solution May Be Easier than You Think

                    by Joshua Ashman, CPA If you are a U.S. citizen or resident with an offshore account and have been delinquent in filing the FBAR, a relatively painless solution may be available to you.  But before we get to the good...Show More Summary

Final Regulations Clarify and Modify Exceptions to PFIC Reporting

By Ephraim Moss, Esq. & Joshua Ashman, CPA The IRS recently finalized regulations, previously in proposed and temporary form, which provide guidance on determining the ownership of a passive foreign investment company (PFIC) and the reporting obligations of PFIC owners. Show More Summary

Are QROPS tax rules under threat by Brexit

The news that Britainâ??s final exit from the European Union may well end the present situation whereby UK ex-company and private pensions can be transferred internationally is causing concern amongst finance professionals. According to European law, British expats are able to take their pension pots out of a number of UK private pension... Expats Blog -

France worlds best country for growing old

Results of a new study have confirmed France as the best place in the world for long life expectancy, making it the idea destination for retirees. Life expectancy levels in France are some of the highest in the developed world and are continuing to increase year after year. Right now, the average age for women is calculated as approaching... Expats Blog -

How to avoid common expat financial mistakes

Wherever in the world youâ??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-doâ??s arenâ??t included here, as most expats are aware of the need to save as well as spend, plan for retirement and allow for... Expats Blog -

Brits in Oz angry about changes to 457 visas

The extension of the number of qualifying years before migrants in Australia can apply for permanent residence is causing anger and dismay amongst British expats on the continent. Previously, the so-called 457 work visa allowed workers skilled in a specified number of professions to apply for permanent residence after just one year, but... Expats Blog -

Boarding schools versus international schools for expat children in UAE

Gone are the days when almost all expat professionals working in the UAE sent their children to overseas boarding schools, but are the emirateâ??s international schools a better and cheaper option? Although boarding schools are no longer a necessity for expat parents wanting the best education for their kids, itâ??s a fact that one... Expats Blog -

UK parliamentary debate agrees motion to axe frozen pension rules

MPs at an admittedly poorly attended House of Commons debate have voted to agree a motion â?? British parliamentary language for a formal proposal â?? stating the hated policy of frozen pensions should be axed immediately. Activists whoâ??ve fought for years to get the rule reversed have called it by various uncomplimentary names... Expats Blog -

Streamlined Foreign Offshore Compliance Procedure

The new streamlined foreign offshore compliance procedure for non-US residents allows you to start fresh with the IRS with reduced or even zero penalties. But the IRS can change the terms & conditions of this program – or even cancel it – at any time. Show More Summary

To Streamline or Not to Streamline: That Was the Question for This U.S. Expat

By Ephraim Moss, Esq. & Joshua Ashman, CPA Currently, an estimated 8.7 million U.S. citizens are living abroad. (1) A growing number of these expats have begun to realize that their U.S. tax obligations did not end upon their change in residency. Show More Summary

Affordable housing for expats in Dubai is at an all-time low

Expatriate professionals working in Dubai are famous for being amongst the top earners in the expat world, but do they earn enough to support their preferred lifestyles in luxury apartments? Itâ??s true that expats in Dubai earn considerably more than they would in their home countries, but the emirate has been reported as one of the... Expats Blog -

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