Expat Money Newsletter - August 2018

Welcome to the Expat Money Newsletter for August.

Expats have to spend and save in different currencies and so an important skill is how to handle foreign exchange. We show what options are available.

We also keep you up to date with the latest issues for expats in managing their money.

The Expat Network Team


What Are The Best Options For Moving Money Abroad?

Today there are many options for moving money abroad and making the most appropriate choice depends on how much you are moving and whether you will be sending regular amounts. What are the best options for short term travel requirements, regular payments and major purchases such as buying a property abroad?

New To America? How To Get A US Credit Card

When moving to America, one of the first problems faced by expats is how to get a US credit card when they do not yet have any local credit history.

CreditStacks CEO and Founder Elnor Rozenrot recounts what made him decide to embark on the credit endeavour. "I remember the first time I went to the bank in the U.S. I had just successfully sold a company I founded and moved to the U.S. I was talking to the leading thinkers in the industry, and I found myself standing in front of a clerk at the bank who was explaining that since I don't have any credit history all I could get was a debit card. Instead of seeing it as a problem, I saw it as a challenge," said Rozenrot. "We couldn't find a credit company that would treat us right, so we started our own."

How Can I Return To The UK To Look After My Mother Without Becoming Tax Resident?

One of our members asked about the rules on UK tax residency? Trevor Wilkes of Trewtax Services set out the implications of the Statutory Residence Test..

Take Care Buying Business Abroad  

Expat Investors Club

The Expat Investors Club is a social network where expats can meet online and share insights with other investors who are potentially interested in similar markets and face similar cross-jurisdictional issues. You can control who you exchange views with and you can get easy access to market information on the investments that you are following.

Expat Investors Club

HMRC Targeting British Expats

HMRC, the UK tax authority, is working to ensure British expat taxpayers continue to pay tax on their UK affairs.

It recently released new figures that demonstrate its increased co-operation with foreign authorities overseas, leading to a considerable rise in levels of expat tax collected.

Best Savings Rates In Expat Banking

Expat Tax 1: British Expats Should Keep Records

The best current offering for sterling offshore savers (with notice period) is Skipton International’s 1.25%, if you have £10,000 and can give 200 days’ notice of withdrawals.

If you can leave your savings untouched for three years. Skipton International offer 1.9% annually over this period for a £10,000 minimum. You can beat this rate if you leave your savings untouched for five years, Conister Bank offer 2% annually for a minimum of £5,000.

For dollars, Standard Bank pays 1.15% for $10,000 or more, with no notice.

Your Free Guide To Living In America

Expat Tax 1: British Expats Should Keep Records

“The Land of the Free” is a wonderfully varied country offering contrasts in both culture and geography. It is a land of stunning coastlines, huge mountain ranges and vast deserts. In this guide, we will provide you with guidance on the issues you will need to address as you plan your move, whether that is to work in the US or simply enjoy a new lifestyle. We have also identified partners to help you with the move and you can access these through the Expat Network site.

Service Directory

Expat Network’s online Service Directories includes companies to assist with your life overseas. This month we profile Foreign Exchange.

Don’t Miss Your Latest Jobs Newsletter

Expat Network circulates a Jobs newsletter every month, the latest looking at tips for getting the best flight deals and examining some of the issues to consider when assessing a salary abroad. If you have missed the latest newsletter you can view it by clicking below.

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