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Expat Money Newsletter - September 2018

Welcome to the Expat Money Newsletter for September.

Rules on how to withdraw money from UK pensions have changed rapidly in recent years. If you want to transfer pensions overseas it gets complicated. AES International have provided a comprehensive guide on how to do it.

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

The Expat Network Team

Looking To Transfer Your Expat Pension?

British expats generally have the right to transfer their pension abroad into a qualifying scheme. For some, the benefits of doing so are manifold. However, there are risks, and it’s fair to say that you need to tread very carefully when considering all your options, as a significant tax charge can apply in certain circumstances. Julian Vydelingum, Chartered Financial Planner and Associate Director at chartered financial planners AES International has provided a comprehensive guide to the benefits, risks and implications.

Expat Investors Club

Pension Transfers have specialised in transferring UK pension benefits to New Zealand since 2000. With regulated offices in both the UK and NZ, Pension Transfers ensures that you receive the best advice and service in both countries. Contact us now and we can arrange a free assessment of your current UK Pensions Benefits. Email us at or refer to our website for more information.

Retiring Abroad – The Joys And The Practicalities

For many Brits retiring abroad provides the opportunity to turn their dream holiday destination into a permanent lifestyle. Surveys indicate that around one in ten people in the UK are considering retiring abroad and although many will not follow through to actually make the move the numbers are increasing. We set out what you need to arrange.

Don’t Miss the US Tax Compliance Boat – OVDP Ends Sept 2018

If you are an American citizen or green card holder living abroad who has unreported assets and income, time is running out to take advantage of a critical Internal Revenue Service (“IRS”) tax compliance program.

Kevin Sweeney, Senior Counsel at Chamberlain Hrdlicka outlines the implications of the IRS ending its Offshore Voluntary Disclosure Program (OVDP) on 28th September which has for years enabled taxpayers with unreported foreign financial assets and income to come into compliance by reducing the threat of criminal prosecution and exposure to penalties. There are other options, but there are issues with these depending on your circumstances.

Take Care Buying Business Abroad  

Australian Expats Returning Home: How To Prepare

Simon DePaoli of Moore Stephens lays out the issues regarding financial planning and expat life that Australian expats returning home need to consider – writing from the perspective of an Australian who has done it. He emphasises that it is best to begin laying the foundations before taking up an overseas posting.

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

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 1.50%, 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 2% 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.

Service Directory

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

Your Free Guide To Living In Portugal

Expat Tax 1: British Expats Should Keep Records

Very popular with retiring Britons, Portugal offers sunny living, an interesting property market and important tax advantages for retirees from overseas.

Portugal is divided into seven provinces or regions with the enchanting city of Porto and a craggy landscape of montanhas e serras in the frequently chilly north, and the balmy coastline of the Algarve in the south. In addition to mainland Portugal, the country also includes two autonomous island territories in the Atlantic Ocean, the archipelagos of Madeira and the Azores. Of the country’s regions the Algarve is still by some distance the most popular choice for Britons. But it isn’t the only choice.

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 retire, buy a second home 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.

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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