No Such Thing As No Deal - How EU Brexit Affects Expats

ProACT Sam Orgill Highlights the steps Expats should consider taking to secure their future Living and Working Abroad.

Have you ever tried to agree a sabbatical from work or school, to find yourself embroiled in a negotiation and conditions? That you have to use holiday pay, or forgo pay, that you must evidence the reasons for the absence?

Or have you ever tried to change your working hours, gain some flexibility, to have conditions applied to your reasonable request made with best intention?

Expat Business Network, Asset Protection, EU Brexit for Expats, Living and Working Abroad, Tax Saving Expat Experts, Overseas PropertyProACT Sam Says11 October 2018eu brexit, expat business network, ProACT Sam Says, Living and Working Abroad, Eu Brexit for Expats, currency exchange, Withdrawal treatyComment

Currency Chatter. Deadline Deals for Brexit

ProACT Sam says that the apparent breakthrough in withdrawal treaty negotiations can give Expats extra confidence, but that we already had certainties of the changes ahead for Expat business and individuals.

After the Brexit vote the UK GBP v EURO fell from as high as Euro 1.30 to GBP £1.00 to around Euro 1.11

As with many things in Brexit we hear constant reports of currency falling or rising.

As our report showed last year , for all the ups and down, Pound Sterling as a currency has been around 1.11 for the last two years.

So this weekends news that after all the politicking , all the PR from vested interests, all the lobbying , a withdrawal treaty is suddenly agreed between the EU and UK negotiators, has an immediate impact on currency.

Straight away we see this happening, a jump in the EURO:GBP Rate to Euro1.13 to £1.00. No surprise.

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Why is £-GBP so Low Against the Euro ? 4 Expat Actions to Save on Currency Exchange

The EU Brexit Vote has hit British Expats Living and Working in the EU hard. The day after the Brexit vote on 24/6/2016 Sterling started a currency fall that at the start of September 2017 sees the Pound trading at £1.07 to 1.00 Euro – a might fall of nearly 25% in 15 months.

This means UK Expats transferring there Pound sterling to Euro now get 3 apples not 4. The meal out in a Spanish or Cyprus restaurant is a meal for three with someone left at home.

The UK pension payment that converted to Euro 2000 in June 2016 now converts to 1500.

That has a dramatic effect on your spending plans. It’s one less trip back to the UK this year, the planned mini cruise postponed until another year.

Why is the £Pound so low against the Euro?

Read more to receive our free guide; 4 Expat Actions to Save on Currency Exchange

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EU Brexit - Living Abroad With Currency Ups and Downs

Sam ORGILL of ProACT Partnership goes with the flow - Living Abroad With Currency Ups and Downs

If you must change currency today you could lose out. So take a long term view. If you are an Expat and have assets in different currencies then take a balanced view.

I will use GBP and EURO to compare on this article.

BALANCED CURRENCY RISK

Most expats living and working abroad have overseas property, savings, pensions and maybe business or loans.

What is the total value? Of Income and of Capital ? What proportion is in the home currency and foreign currency?

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