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Expat Money Newsletter - October 2017
Expat Money: Are You Covered?
Welcome to the Expat Money Newsletter for October. We are once again focusing on the personal finance issues that matter to you as an expat, or would-be expat.
In this month’s edition we consider how expats should find the right insurance cover to suit their circumstances.
We also look at how going abroad may increase your chance of higher pay.
I hope you enjoy this newsletter. I welcome your thoughts on other topics you would like us to cover. Or do you have your own tale to tell or question to ask about expat money? Let me know.
Feel free to forward this newsletter to anyone who you think may benefit from reading it. Just click on Forward to a friend or colleague below.
Iain Yule
Editorial & Publishing Director
Expat Network
iain@expatnetwork.com
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Expat Insurance 1: Get The Right Cover
Research shows that 28% of UK insurance companies offer life insurance products to British expats. Only 7% of providers are prepared to accept an application for critical illness cover from expats. Do you have the right cover in place?
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Expat Insurance 2: Covered For Kidnap?
As employers send more staff abroad they need to be aware that kidnap and ransom can occur in any region. Employers underestimate this risk and need to do more to protect their employees, as approximately 40,000 kidnappings occur every year.
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Where Best To Retire In Europe?
Despite fears that Britons will not be so well-off, welcome or cared-for in mainland Europe after Brexit, there are signs that many of us still want to find a retirement ‘place in the sun’. There is a rush to find that sunny home on the Mediterranean while the Brexit talks continue. See our new ‘Retiring To…’ section.
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Expats Earn 25% More Abroad Than At Home
A survey has found that life abroad typically increases expats’ income by 25%, with the average expat earning just under $100,000 a year. Far from compromising their wellbeing, expats seem to find the right balance. Four in ten expats adopt a more positive outlook on life after moving abroad, with 44% becoming more physically active.
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Expert Answers To Expat Questions
Our readers regularly ask us questions about their expat experiences. Our panel of experts is happy to help. One expert recently helped an American living abroad understand the rules about US tax filing from overseas.
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Best Savings Rates In Expat Banking
The best current offering for sterling offshore savers is Standard Bank’s 1.2%, if you have £10,000 and can give 196 days’ notice of withdrawals. You can beat this rate if you can leave your savings untouched for three years. Skipton International offers 1.5% annually over this period for a £10,000 minimum.
For dollars, Standard Bank pays 1.05% for $10,000 or more, with 196 days’ notice. Only one offshore bank is offering any interest on euro savings. Kleinwort Benson offers 0.01% for deposits of €100,000-plus.
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Don’t Miss Your Latest Jobs Newsletter
Expat Network circulates a Jobs newsletter every month, with all the latest news on who is hiring and which new work contracts have been awarded. If you have missed the latest newsletter you can view it by clicking below.
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Sponsored: Claim All Your UK Tax Allowances
SimpleTax is the simple way of calculating and submitting a self-assessment return. Developed with individuals in mind and not accountants – SimpleTax is perfect for expats and is HMRC recognised, accessible anywhere via mobile phone, laptop, PC or tablet, it’s jargon-free and easy to use. Simply enter your basic personal information and SimpleTax guides your self-assessment, allowing you to complete your return accurately. Based on the information you enter, SimpleTax will even suggest where further savings could be made, ensuring you claim all applicable allowances.
Expat Network have negotiated a discount on SimpleTax – receive 15% off the usual price of £30, making it only £25.50 – use discount code EPNAV17A on payment screen!
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Understanding Expat Medical Insurance
A new website, expathealthcare.com, provides fully-independent answers to the many questions you may raise as an expat about making sure you are healthy – and have proper insurance cover – while overseas.
Expathealthcare.com is a resource you can use to find out all about healthcare and insurance cover for expats, what you need to know and where to find assistance.
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Sponsored: Travel Deals From Silversurfers
We have just launched our special travel deal section on Silversurfers.com. With holidays from as little as £199 everyone can find a holiday to suit their budget. Choose a holiday in a beautiful European city, chill out on a beach or go to a stunning Far Eastern destination. They are all amazing value and departures are from many UK airports.
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Remember To Register!
Sign up for free at the Expat Network to enjoy the following benefits: access the latest overseas jobs; get help with writing winning CVs and social media profiles; and upload your CV so that our unique network of recruiters and employers can find you.
You will also find expert answers to the most frequently asked expat questions and receive regular news bulletins on contract awards and other expat news. Registration is free of charge – and you can unsubscribe at any time.
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Expat Network’s online Service Directories includes companies to assist with your life overseas. This month we profile Insurance.
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