Money News Page 2

The number of rich Americans giving up their US citizenship has increased dramatically since UBS’s Bradley Birkenfeld triggered a tax evasion crackdown four years ago, reports the Seattle Times. Roughly 1,780 expatriates handed in their passports at US embassies in 2011, rising from 235 in 2008, revealed Geneva’s Overseas American...

Prime office buildings in London have become popular among South Korean institutional investors looking for low-risk assets, reports the Financial Times. Attracted by the UK capital’s high investment returns in relation to risk, South Korea’s cash-rich insurers and investment funds are searching more and more for bargains in the...

Australian university graduates who relocate abroad to work for extended periods of time have cost the country in the region of $450m in unpaid HECS debts since the introduction of the payment scheme in 1989, revealed a new study. Australian National University academics Tim Higgins and the designer of the HECS scheme Bruce Chapman carried...

New York and London will remain as the world’s most important cities for wealthy individuals during the next decade, suggests research. However, Shanghai and Beijing are viewed by high-net-worth people as the key up-and-coming cities, revealed the Citi Private Bank and Knight Frank’s Wealth Report. The research also describes the shift...

People who want to do an international money transfer to fund a move overseas may find it much easier to relocate to another country if their career can be portable, according to HiFX News. Those who can work from any country in the world are likely to find it a much easier experience moving overseas than individuals who have to look for...

Getting the right exchange rate when moving overseas can make a huge difference, reports the Daily Telegraph. City whizz-kids have earned and lost fortunes on gambling on how the foreign exchange markets move. However, for expatriates the exchange rates movements are not about making cash by speculating on rises and falls; it’s much more...

It could soon be cheaper to use mobile phones when travelling to other countries within the European Union, reports the BBC. MEPs have voted for a significant reduction in the price which companies can charge for texts and calls and – for the first ever time – to introduce a maximum charge for data usage. The move comes as the latest...

Expats living in Australia must monitor their UK credit and debit cards closely as retailers in Australia move increasingly towards lowered security, reports the Daily Telegraph. Australia is one of the most popular countries for Brits to emigrate to, with more than 100,000 making the move between 2005 and 2010. Most Brits who move abroad...

Expats have been encouraged to manage their finances in their country of residence in order to prevent unnecessary charges, according to the Daily Telegraph. The Guardian Wealth’s chief executive David Howell said that tax planning, savings, health insurance and pensions were areas expatriates should review after moving overseas. He...