Contact

News & Insights

Quality insurance top priority for expat employees

Over half of the HR directors noticed an increased demand for health and wellbeing benefits from their overseas workers since 2012, which was also reflected in the responses from the employees, with a quarter saying that they expected more from their employer in this area than they did five years ago. While the statistics show that some employers are changing to accommodate their workers, many more are not; only a third of HR directors said that they met this need by providing such improved benefits.

In particular, there was a requirement for flexible working hours and quality international private medical insurance (IPMI), and the desire for these looks like it will continue to rise. This is because a third of the HR directors responded that they anticipate the number of their employees working overseas will grow over the next five years, with most (80%) expecting their employees to travel to a European destination.

What’s more, two-thirds of those receiving IPMI viewed the insurance as absolutely essentiall when moving overseas, saying that they would not have gone to live abroad without it, and nine out of ten believe that their employer has the responsibility of looking after their health while they’re abroad.

Sheldon Kenton, the managing director of Bupa Global, summarised the report, saying that he felt businesses with overseas employers are experiencing a change in the attitude of employees. “Employees are becoming increasingly engaged with their own health and wellbeing, and are calling on their employers to take an active role in it too,” Kenton said

Of course, you don’t have to have moved overseas for work to understand the importance of quality medical insurance. All expats should have access to high-standard healthcare in their chosen destination, whether they’ve moved for business or for retirement. There are also other insurance products that, like IPMI, enable you and your loved ones to cover all your “what-if” scenarios. For instance, providing expat life insurance is one way Blacktower helps our clients safeguard their future.

Quality Life insurance for expats

A good financial adviser aims to offer clients complete peace of mind in their financial dealings. One way in which we do this at Blacktower is by offering a special life assurance product to expats in Portugal. Our Private Wealth Portfolio is an effective expat life insurance policy that provides you and your family with a range of benefits.

Reduced tax liability, exclusion from Portuguese Stamp Duty, and no inheritance or gift tax to pay are just a few of the benefits of this fantastic Portuguese expat life insurance policy.

For employers in the UK, we also offer advice on purchasing group private medical insurance, as well as a multitude of other suitable products for businesses so that they can offer their employees the most robust protection and financial security.

To discuss your options, contact a Blacktower adviser today.

Other News

Property prices in Spain for 2017

Spanish Marina - Puerto BanusWhen relocating to Spain, finding and buying your new home is sure to be at the top of your list of priorities. And there’s a wealth of great areas and regions to choose from.

Of course, reliable financial advice is one of the most effective ways to make sure your money is in order so that you can property search in confidence and it always helps to have your finances in place beforehand, especially if you’re considering one of the popular or pricier locations on the Spanish coast.

Read More

Expat financial advisors in Grand Cayman

A move from the UK to the Cayman Islands is, by very definition, a bold one. However, for the majority of expats who undertake such a life change, it is not one that they will regret. This is because, if you get your financial advice and wealth management in order, chances are that you will be able to enjoy all the benefits that go with living in one of the world’s true natural paradises.

Dealing with HMRC

Before any would-be Cayman Island resident leaves the UK, he or she should fill out HMRC’s form P85. This ensures that you have the opportunity to get your tax and residency status right and is particularly important if you will continue to have UK tax to pay – for example, if you have a UK-based business, a rental income, or are the director of a company.

Considerations include being listed as a non-resident landlord so that rent can be paid without UK income tax, splitting the tax year into resident and non-resident periods, and addressing the issues around capital gains tax.

Read More

Select your country

Please select your country of residence so we can provide you with the most relevant information:

You are currently viewing the Blacktower Financial Management EU website.

You may be looking for the Blacktower United States website.

Blacktower United States > X Stay on this site

Or choose your country.