Friday 6th August 2010

Expat news roundup 6th August

Expat news roundup of all the news impacting expatriates this week. What's been happening near you?

Australian Expats

Thousands of Australians abroad set to vote in general election

Australian expatriates throughout the world are preparing to vote in their country’s general election, which sees two British born politicians battling it out for leadership position.

Julia Gillard, originally from Barry in the Vale of Glamorgan is going head to head with Tony Abbott, from London.

Expatriates are being urged to make the most of the vote in what is anticipated to be an extremely close competition.

Source: Bloomberg

Canadian Expats

Canadians abroad seek need better treatment

Kenny Zhang, a researcher from the Asia Pacific Foundation of Canada, has argued that Canadian policies are unfair to Canadian expatriates who abroad and should be revisited to take into account the fact that many of these expatriates do intend to return to Canada in the future.

Citing tax laws, the ability of naturalized Canadian expats to pass on their citizenship to children born abroad, and rules pertaining the length of time a Canadian citizen is able to spend out of the country before losing their voting rights, Zhang believes that Canadians living abroad are increasingly being forced to sever ties with their home country.

He has argues for a federal agency devoted to developing policies that are suitable for Canadian expats abroad: “These are the global citizens that Canada needs. As a trade nation, as a nation that has a strong international presence and links, we obviously need people to facilitate and support this presence,” he said.

Source: The Globe and Mail

Expats in Bangkok

Bangkok riots have not impacted expat property market

Experts have revealed that the recent riots in Bangkok have not had a major impact on the property market for expats in Bangkok and it is anticipated that it will recover in full. Over the past year there had been a 2.3% increase in expat properties and an occupancy rate of 88% has been sustained.

Source: Global Property Guide

Expats in Dubai

Indian expats in Dubai offered free financial advice

The Indian consulate in Dubai has offered all Indian expatriates free expert advice on managing their finances.

An Open House session will be available for Indian expats on Friday 20th August from 8pm to 10pm at Indian Consulate Auditorium, Al Hamriya Diplomatic Enclave. The session will be aimed at assisting Indians in the region with investment decisions and debt resolution. A panel of experts from the alumni association of the prestigious Indian Institutes of Management (IIM) will lead the Open House. Consul - General of India Sanjay Verma commented on the event saying:

“Our intention is not to dole out money to those who need it. The idea is to use Indian resources to assist those in need to find ways of dealing with their financial issues.”

Anyone interested in participating in the event should email vccons@cgidubai.com.

Expats in Kuwait

Expatriates in Kuwait over 60 will not have their contracts renewed.

The Kuwait Ministry of Defense's Undersecretary Jassar Al-Jassar, has announced that all expatriates over the age of 60 will not be permitted to renew their contracts and will be replaced with local citizens.

Source: Kuwait Times

Expats in Spain

Expats in Spain offered niche financial services product

Financial firm Skandia International have developed a product that is specifically aimed at expats in Spain.

The new product, which is referred to as the Spanish Collective Investment Bond (Cib) has been tailored to Spanish law and will allow expatriate investors access to a wider range of investment funds. Discussing the new offering, Michelle Andrews, commercial director at Skandia commented:

"Developing and launching a proposition in line with Spain’s investment and tax regulations underpins our commitment to expats in this market.

"We have clearly identified interest from advisers and investors alike. The market still represents one of Europe’s expat hotspots – and the number of expats living there remains high.

"The demand for an investment solution which gives investors freedom and flexibility has remained constant, despite turbulence in the markets and currency over recent months."

Source: The Telegraph

Retiring to Mexico

Retiring to Mexico? Mexico is named best retirement destination in the world

Puerto Vallarta in Mexico has been named the best retirement destination in the world by AARP The Magazine.

The magazine, which based their findings on the standard and cost of living, expat life and community and climate, claimed that Puerto Vallarta in Mexico was by far the best retirement destination on offer: “With its rich Indian and Spanish culture, lavish beaches and affordable real estate, Puerto Vallarta offers the low-cost, laid-back lifestyle retirees seek to find in a community.”

The magazine cited the warm, pleasant climate and the prevalence of expatriates as being the main reason for the country’s suitability for retirees.

Also named as great retirement destinations were Languedoc-Roussillon
in France, Boquete in Panama, Cascals in Portugal and Le Marche in Italy, which featured in positions 2 to 5 of the world’s best retirement destinations respectively.

Source: RIS media

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