Expats Moving to an Expensive City: Budgeting 101

These days, many folks find themselves expatriates, living out of their native country and off to a large metropolis like New York City or London. If you're interested in locating to a bustling city, it's important to look into the cost of living before packing up the moving boxes. As you do your research, you may find your desired location is one of the most costly ones - but don't let that discourage you. We've gathered tips and best practices that can help you live comfortably in (or near) an … [Read more...]

Benefits of Investing in Offshore Banking

Once you’ve endured the stress of an overseas move, everything will eventually start to take shape and then you can finally begin building your expat life away from the UK. One of the reasons you may have moved abroad could be the promise of a new job, and of a new income, so it may be essential that you have already set somewhere up to deposit this new capital at ease. Although the obvious choice, offshore investment can be a tricky one. So many people talk about it, and the rumour mill … [Read more...]

Retirement Talk: How to Live Cheaply & Comfortably Overseas

  If you're willing to leave the United States, you could retire on about $1,200 a month, MSN Money reports. Benefits to retiring overseas include lower taxes, a lower cost of living (meaning your pension can go a lot further) and in many cases, better weather.   The top five places to retire abroad are Argentina, Belize, Costa Rica, France and Italy, according to AARP. Sound dreamy?   If you are considering retiring overseas, take the following into consideration before you … [Read more...]

Financial advice for expats: Bank transaction charges costing British expats millions

More than half of all British expats worldwide are incurring bank charges which are costing them millions each year when they transfer funds from the UK.   A survey of seven banks conducted by independence researchers for the Post Office International Payments revealed that, on average, expats would typically be charged at least £9 by their bank provider for a transfer of £500.   However, this can shoot up to £25 per every transfer of £500 depending on which bank they're with … [Read more...]

Moving to Israel – Money and Banking

  Are you moving to Israel? Not sure how the banking system work in Israel or how to open an Israeli bank account?   Here you can find answers to these questions and much more.   The currency in Israel is the New Israeli Shekel (also known as the Shekel - NIS). There are 100 Agarot (cents) in 1 shekel.   The exchange rate fluctuates daily and ranges from 3.5NIS: $1 to 4.5NIS : $1.   Moving to Israel - Banking   All migrant workers are able to open a … [Read more...]

Taxes for British Expats Moving to Canada

  The following is a question that was submitted to us by Jassa from England   I was wondering if I move to Canada would I have to pay higher tax in Canada because I own half of the business in U.K.   Thank You, Jassa     Hereunder are a few suggestions I had for Jassa   Hi Jassa, Thanks for your inquiry. Please note that I am not an expat tax expert.   I would definitely recommend that you get some professional advice before you move to … [Read more...]

What is the Cost of Living in Canada?

  The following is a question that was submitted to us by Kim from Liverpool, UK   My family is planning on moving to Canada.   One of the things we are trying to find out is the cost of living in Canada and especially the cost of living in each province.   We would appreciate your assistance with this.   Thanks a lot, Kim     Hereunder are a few suggestions I had for Kim   One of the most important things to do when searching for … [Read more...]

USA Expats Tax Return and Bonafide Residence

  The following is a question that was submitted to us by Fred Van Antwerp   I need some assistance with my 2010 us expat tax return.   I'm currently working in Afghanistan and started in January 4 of this year.   I have been working overseas since January 2004 for several different companies.   January 15, 2004 to July 2005: Armenia (United Institute), January 5, 2006 to July 2007: Croatia (Urban Institute), July 2007 to June 2008: Palestine (United … [Read more...]

Canada Tax for Canadian Expats

  The following is a question that was submitted to us by Richard   I am a government of Ontario employee with a pension. I am due for full retirement in 18 months.   I have a sailboat and intend on sailing overseas. I will be returning to Canada periodically.   I would like to maintain my medical and dental plans.   Q1. Will I have to return once every 180 days?   Q2. Should I severe my ties to Canada for tax purposes?   Thank you in … [Read more...]

US Expatriate Tax Return

  The following is a question that was submitted to us by a U.S.A expat in Nigeria   I work in Nigeria on a rotation schedule over 200 days a year and I live in the U.S.   I am not a contractor, so my tax is taken out by the company I work for.   Is there any way to get some of my tax back?   Thanks, David     Hereunder are a few suggestions I had for David   In order to provide you an accurate answer I have consulted an USA expat tax … [Read more...]