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?
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.
6 Reasons to Make a Will for Overseas Property Investment
What gets missed, in the excitement and enthusiasm of Overseas Property Investment is the exit strategy if something goes wrong. Over 20 years we have seen many examples where Family, Health, Business issues goes wrong or just change, leading to expense delay and taxes in order to sell an Overseas Property Investment and or Relocate back home.
Our deep understanding helps us guide Expats Living and Working Abroad, or investing in Overseas Property protect the Family Assets and help avoid cost, delay and tax when difficult times arise.
We have created a Free Article for you to Read and Share;- 6-reasons-to-make-a-will-for-overseas-property-investment
Currency Joy Exchange Rates Buoyed
Currency Joy Exchange Rates Buoyed
EU Brexit for Expats: 5 Benefits for Expats Living and Working Abroad As by the Weakening of the Euro
Sam Orgill of ProACT Partnership considers the Exchange Rate Adjustment and implications of EU Brexit for Expats Living and Working Abroad
Eurozone Economy Weakness
As the EU economic zone continues to stutter with structural banking an debt reforms the Euro hits a barrier as Italy emerges as the country of focus in world finance
An Italian Economy weighed down by bad debt that has not be reformed an updated. The Italian referendum on their governments proposed reforms that have been rejected. This has weakened the Euro on the world markets.
Sterling has strengthened, Euro is Weaker:
GBP£1 = Euro1.20 , USD $1 = Euro 0.95, Rouble RR 1 = Euro0.015
5 Benefits for Expats Living and Working Abroad
5 Ways You Will Protect Your Pensions, Property, Investment Overseas
SAM ORGILL OF ProACT PARTNERSHIP HOW TO MAKE OVERSEAS TAX SAVING FOR EXPATS
The EU changes to Succession mean Expats must make written changes to their Will to avoid forced heir-ship and retain financial control of their affairs on first death. Overseas Property Investors are most at risk with more than one country rules affecting inheritance and succession.
This can be done with a simple codicil or with an updated Will. Our View is that a codicil is risky. A separate codicil document could be valid, but it increases the potential of being misplaced or not accepted or not being consistent with the Will.
Make a Full Review of Overseas Property Investment Pensions with the Expat Experts.
Pension Freedom for Expats - Business or Retired
New Pension Freedom Rules allow Expats to Draw the whole of their UK based pension fund and pay tax in their country of overseas tax residence. This offers potentially large tax savings for Expat Business and Retired people Living and Working Abroad.
You don't have to retire to free your pension, even if living and working abroad, you can still reclaim the pension once you are over 55.
In the UK any Pension fund over £43,000 could generate a UK tax bill of 40% (£17,200)
The freed pension funds can then be invested in any way, cash investments, family business, overseas property, family education, repay loans, enjoy retirement.
ProACT can help free your Pension and reclaim big tax savings up to 40%.
Business Start-Ups for Cyprus Expats
Business Start Up costs in Cyprus are expensive and new Expat Business starting in Cyprus should consider their approach to save money and tax in the crucial first two years as the business gets going.
Consider a contractor or sole trader starting a new Cyprus Business. A start new business could pay over Euro 900 per quarter as a fixed social insurance from the outset. While reductions can be achieved with allot of hard work a minimum social insurance tax bill would be around Euro 300 per quarter.
With good planning you could reduce the business set up costs while remaining compliant for income tax, VAT and Social Insurance
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