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Expat Money Newsletter - September 2017

Expat Money: Pension For Expats

Welcome to the Expat Money Newsletter for September. 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 can save for retirement, without falling foul of tax rules.

We also look at how Britons can successfully retire to Europe - Brexit or not.

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

Pensions For Expats 1: Beware Transfer Tax

Expat Tax 1: British Expats Should Keep Records

An overseas pension transfer tax could see the UK taxman take a quarter of expats’ transferred funds. Those thinking of moving UK pensions need to know the new rules.

One of the few surprise announcements in the UK Spring Budget was the ‘Overseas Transfer Charge’ – an immediate tax on certain transfers to offshore pension schemes.

Low Tax Locations

Sponsored: Sensible Pension Planning For Expats

Historically, in countries where there is no tax-driven, government-approved pension savings framework (most countries in the Middle East and Africa, for example) expat workers have relied on ‘international pension plans’; in reality a marketing name for what is essentially a long term savings plan.

Pensions For Expats 2: Property As Retirement Fund?

Expat Tax 2: Beware UK Stamp Duty Hike

Two Expat Network members have been expats since 2000 and are likely to return to the UK this year. They have invested in UK property as a ‘retirement fund’ but have heard that new capital gains tax rules may affect their returns. We asked one of our expert panel to help.

Low Tax Locations

Sponsored: Are You Paying Too Much For Investments?

Expat Tax 2: Beware UK Stamp Duty Hike

Did your financial adviser offer you 'free' advice when selling you that investment, pension or savings plan? If so, then the chances are you are paying significantly more than you think.

Advice is paid for either through fees - which come straight out of your pocket - or commission, which is taken from the money you intend to invest. With levels typically at 7% or as much as 12% or even 20%, this has a big impact on your investment returns.

So find out if your money could be working harder for you with a FREE portfolio review to see if you could reduce the charges you are paying. Just click here.

Despite Brexit, Britons Still Keen To Move To The EU

Expat Tax 2: Beware UK Stamp Duty Hike

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.

Expert Answers To Expat Questions

Expat Tax 3: The US Foreign Bank Account Rules

Our readers regularly ask us questions about their expat experiences. Our panel of experts is happy to help. One expert recently helped a couple to find out if they were eligible for free healthcare if they moved to Spain.

Need for Medical Insurance
Low Tax Locations

Sponsored: Premiums Cut On Expat Contractor Health Plan

Expat Tax 3: The US Foreign Bank Account Rules

As expat insurance specialists, Bellwood Prestbury have negotiated reductions of up to 25% on the Contractors International Health Plan. The new rates deliver savings of 25% for contractors aged up to 49 years and 20% for anyone over the age of 50. The plan offers a range of medical insurance options designed for expats working in the oil & gas, energy, aviation, engineering, security, NGO, humanitarian, telecommunications and technology industries. Get a quote now.

Need for Medical Insurance

Best Savings Rates In Expat Banking

Expat Tax 3: The US Foreign Bank Account Rules

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 offer 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.

Need for Medical Insurance

Sponsored: Travel Deals From Silversurfers

Living & Working In China

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.

Understanding Expat Medical Insurance

Expat Tax 3: The US Foreign Bank Account Rules

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.

Need for Medical Insurance

Learn About Expat Life In Nigeria, Portugal; UK Property & Insurance

Expat Tax 3: The US Foreign Bank Account Rules

The Summer edition of Expat Living magazine is now available to read completely free of charge. You can learn about working life in Nigeria, retirement in Portugal, the current pros and cons of UK property purchase, and whether you have the right expat property insurance.

Need for Medical Insurance

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.

Christopher Nye Guides
Capital Consulting

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

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