Once again Jeremey Hunt, as Chancellor of the Exchequer, has delivered an Autumn Statement, this time with a claim that there would be 110 measures “to help grow theeconomy”. We will be the judge of that…
This article is a brief overview of some of the main points with particular reference to any cannouncements that have relevance to those living outside of the UK, and especially in the GCC.
The UK press will cover many points in detail but many of the points will not be directly relevant to expats so this article focuses on the points that will directly affect us.
Citizenship- or residency-by- investment could be the answer.
As the world, and where we can choose to live, is affected by events and economics, many people are considering alternative citizenship and places to live. The recent pandemic, wars, economic factors – all have affected how we see our futures. And where we want to live and retire.
It is not as easy as simply deciding you want to live in a certain country as obtaining residency and visas can be complex. The choices about where to live and work are restricted for most people and few nationalities have real freedom of movement.
Holding passports from certain countries is extremely limiting so you may like the option of obtaining better travel documents.
If you have passports from countries such as Pakistan, India, Lebanon, Egypt, and many other African countries to name just a few, you will know how difficult it can be to travel or live elsewhere.
People from developed countries would also often like the opportunity to live and work in other countries without restrictions.
The good news is that there are options where you can obtain both the right to live and work, as well as a citizenship.
We can offer a range of residency- and citizen-by-investment programmes which will give you the desired economic freedom and choice of where to live.
You may think that you need to save up for ages to save up a deposit to buy a property in the UK but there is another way. There is no need to wait until you have saved 30-35% before you buy.
This is for direct ownership and will make it easier for you to get on the property ladder.
Secure the purchase price now, but pay the deposit of 30% over a period of 18 to 30 months, before you arrange a mortgage to finance the balance.
No need to wait and you can buy an investment property at today’s prices, not at an increased rate in a few years’ time.
Most expats have a need to move money between currencies and it makes sense to find a way to do this securely, easily and where you can save money.
You can do this easily, from your desk or sofa. Importantly, this is fully secure, properly regulated and in view of recent issues with some UAE companies, I only work with a currency broker with a good track record.
The online services offered by retail banks are rarely competitive and even if they do not charge a fee they make their profit on the poor rates of exchange offered.
There is a better way. Everyone wants to make savings so this is how you can make easy savings and get value for your hard-earned money.
Your family is important. Your children are important. When you have dependents and loved ones, you want to make sure that they will be financially okay, no matter what happens.
Have a watch of this short clip to understand why you need to have life insurance.
When it comes to investment we are still living in interesting times. With so many unexpected global events in recent years and those that are ongoing, investing has not been a great deal of fun of late, and I fully appreciate the frustration of clients, of all investors.
This article is designed to provide some context and comfort. So read on…
Wellness is a term that has become very popular in the past few years. We tend to think of it in terms of mental or physical health but it is time we looked at financial wellness.
Simply put, financial wellness is a relative measure of how well a person manages their financial life. We all want to be financially well and this article is about what it means and how you can improve your financial wellness.
Here we are again with another Budget and don’t they seem to come around fast?
Chancellor of the Exchequer, Jeremy Hunt has been in the role since October of last year and while he issued an Autumn Statement on 17th November 2022, he has had his feet under the big desk for a while now so should be in a better position to take economic steps for the benefit of the UK public.
This article is a brief overview of some of the main points with particular reference to any changes that have particular relevance to those living outside of the UK and especially in the GCC. The UK press will cover many points in detail but many of the points will not be directly relevant to expats so this article focuses on the points that could affect us.
The UK still has a cost of living crisis and the official inflation figure is 10%, a 40 year high. The price rises are being felt, as are the increased mortgage repayments. Salary increases are below inflation, energy prices are still high, and many people could do with some government support.
Interestingly, US inflation has fallen from its peak, from 9.1% to around 6% yesterday. Average European inflation is at 8.5%.
With a consensus that the UK could still enter into recession, the challenge is that expansionary spending could damage the steps being taken to try and keep a lid on further inflation.
As has become common in recent years, many of the announcements were trailed and leaked to the media as we there seem to be policy by feedback these days. We had been told that there would be support for working parents, an extension of the energy price cap, and an increase in the pension Lifetime Allowance.
Read on for a summary of the major points, and especially anything that affects expats
Too many people bury their heads in the sand when it comes to planning for their financial future so we need to face some facts.
The reality is that most people are facing a significant shortfall in their retirement income.
According to recent figures, the average UK pension pot totals just £50,000 and the average pension income is £500 a week. That income will not just be from the pensions, but from other sources such as the state pension, personal investments or property.
The average UK resident has savings of just £17,365 and 34% have no savings or less than £1,000. Equivalent figures are not available for GCC expats but given that our incomes are higher than UK averages I would hope it is rather more. That said, I all too frequently come across people without any savings or investments.
In this article I look at some of the mistakes you want to avoid and issues that you really cannot afford to ignore.
The times, they are a-changing, to quote Bob Dylan, and that is the case in the UAE as Muslim expats can now write UAE wills and distribute their assets exactly as they wish, in the same way as non-Muslims.
This is a huge change, and very welcome for many expats, especially those who have bought property in the UAE. Provided a will is set up correctly, and formally registered, assets will no longer be subject to distribution according to Sharia Law.
