Here is a brief resume of what is exactly available in the market place for expat investors and the rates you can expect to receive. Getting the best income possible from your investments is crucial in the current economic climate.
As an expat the way you pay tax and how your regular savings may grow could be very different to how it is at home in the UK, which is why all expats need to be fully aware of the financial systems of their chosen country of residence.
For instance, if you have moved to the Netherlands for work, or you're considering a move in the near future, changes to a beneficial tax break could be on the horizon meaning your entitlement to tax-free income is cut.
Norges Bank has recently introduced the new series of Norwegian banknotes, which display a rather unusual design.
Traditionally, as is the case in most countries, Norway's banknotes have always been adorned with portraits of the country's important historical figures. But this new series of currency has done away with tradition and instead features images with one theme tying them together: the sea.
The process of Brexit is a complicated business. It's been a year since Britons voted to leave the European Union. But how has Britain's controversial decision and its handling of the situation thus far affected other EU countries' views of the Brussels-based Union? Has the uncertainty faced by the British Government convinced others to stay put, or do they wish to follow suit and have a Frexit, Spexit, Grexit, etc.?
A recent poll by Pew Research Centre gathered opinions from almost 10,000 people from 10 European countries including France, the Netherlands, Spain, Germany, Poland, Sweden, Italy, Greece, Hungary and UK. The purpose of the survey was to find out the attitudes towards Brexit and the EU from across Europe. It questioned respondents on topics such as would they want a referendum of their own and whether they think Brexit is positive or negative for Britain and other member countries.
British people make up one of the highest percentages of expats in the world, it is estimated by the World Bank that between 4.5 million and 5.5 million Britons live abroad – around 7-8% of the UK population. Spain has become a firm favourite for people choosing to settle down overseas.
The United Nations Population Division found that over 381,025 official British expats were in Spain during 2013, with even more who are unofficially living ‘under the radar.’
The Nuffield Trust has recently unveiled some worrying predictions regarding what tens of thousands of expats returning to the UK for healthcare following Brexit could mean for the NHS.
The independent health charity has released a report warning that the NHS will face an even bigger financial strain than it is already under if expats are forced to return to Britain because they can no longer receive funded healthcare in the EU.
The UK has had an unprecedented period of low interest rates; 2009 saw the base rate drop to 0.5 and then last August down to 0.25. That's eight years of extremely low interest rates. Whilst this has been great for borrowers and helps to keep the business economy afloat, it has been disastrous for those people in or approaching retirement. Annuity rates have been terrible for pension income returns and the bank rates for the people who have savings have been providing very poor returns.
In true form, the ending of Theresa May’s last-minute snap election ended in a rather unexpected hung parliament, with the Conservatives planning to team up with Northern Ireland’s DUP party to form a majority government.
The election marked shock losses for the Conservatives. Out of 650 seats, the Tories finished with 318 seats – eight short of the figure needed to win – with Labour on 262, the SNP on 35 and Liberal Democrats on 12.
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