Working Abroad - Business Travel 2012?

American Express' annual Global Business Travel Global Forecast says airfares and hotel costs will rise, as will doing business in Asia and Latin America as opposed to North America and Europe.

Despite a series of fragile economies, costs are expected to rise mostly as a result of classic supply and demand: More businesses are likely to send employees on the road while air carriers, in particular, keep availability restricted.
Report highlights:

Europe, Middle East and Africa airfare and hotels
Increases are expected to be modest on airfares, but long-haul business will see the biggest leap as "European business people go abroad to Asia and Latin America to capitalize on growth opportunities in emerging markets." Hotel rates are likely to see moderate increases also, but countries in economic turmoil, such as Spain and Greece, could be better values.

Latin American airfare and hotels
Strong Latin American economies and increasing consolidation among airlines likely will boost costs — between 3 and 6 percent for economy seats and 5 to 9 percent in business class.
Hotels will be impacted similarly, with "moderate" increases among mid- and upper-tier locations. Business hubs will be particularly affected.


Asia-Pacific
This region is the jewel of business travel at the moment and a "relative bright spot in an otherwise uncertain economic picture." Asia is "expected to lead in business travel demand." Airfare is expected to increase significantly, with leaps as high as 10 percent on long-haul business routes.
More travelers also will mean higher hotel rates. But some cities, such as Shanghai, have enough capacity to offer cheaper rates than elsewhere in the region.

November 01, 2011 - Tribune Newspapers excerpt

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Want a British passport - pass the history test!

Applicants for British passports will have to meet new requirements that were outlined by Prime Minister David Cameron on October 10. Under the proposal, migrants will have to pass a quiz about British history and culture before they will be granted a passport. The quiz will cover a number of major events and important people in British history. Foreign nationals who want to permanently move to the UK are already required to take a test on life in the UK, but have not been asked to take a quiz on history because of concerns that doing so would be unfair. The addition of the history quiz is part of an effort that Cameron said will make the UK's immigration system fairer. In addition to the history test, Cameron has also called for forcing migrants to pay a bond as high as thousands of pounds before they will be allowed to enter the country. Forcing migrants to pay such bonds could help prevent them from disappearing into the underground economy. Cameron also called for requiring companies to report how many foreign employees they have, though that proposal has since been dropped.

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Working Abroad - Cultural Differences impact Mergers and Acquisitions

According to a KPMG study, "83% of all mergers and acquisitions (M&As) failed to produce any benefit for the shareholders and over half actually destroyed value". It was cited that the overwhelming cause for failure "was the people and the cultural differences".

Difficulties encountered in M&As are amplified in cross-cultural situations, when the companies involved are from two or more different countries.

Merger success is possible; however, being part of the 17% that succeeds, rather than the 83% that does not deliver, requires more than insight. Merger success is based on acceleration, concentration and creating a critical mass for operational change (adaptation).
Up to the point in the transaction where the papers are signed, the merger and acquisition business is predominantly financial - valuing the assets, determining the price and due diligence. Before the ink is dry, however, this financially-driven deal becomes a human transaction filled with emotion, trauma, and survival behaviour - the non-linear, often irrational world of human beings in the midst of change.
In the case of international mergers and acquisitions, the complexity of this process is often compounded by the difference in national cultures. People living and working in different countries react to the same situations or events in very different manners.
Therefore, a company involved in an international merger or acquisition needs to consider these differences right from the design stage if it is to succeed.

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Virtual teams the new working abroad?

The ‘rules of engagement’ for a virtual team:
A virtual team has the potential to be a powerful resource within any organisation, but its complex dynamics mean that it must be structured with care to avoid misunderstandings and conflicts that can arise from its virtual nature and the cultural differences of its members. The following list sets out some of the key areas to address when setting up a virtual team.

• Leadership
• Purpose
• Roles
• Culture
• Communication
• Conversation
• Feedback
• Pace
• New members
• Weaving
• Participation
• Team Building

Find out more about our virtual team training program and how it could benefit you and other members in your team or business.

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Working Abroad - 10 mistakes made by expats

Ten Worst Mistakes Made by Expats:

Gavin Pluck, European director at Guardian Wealth Management, warns of the 10 worst mistakes people from the United Kingdom make when moving abroad:

• People often underestimate the cost of living in a new country by assuming the cost of essentials in a new country will be comparable to those in their country, but countries like Switzerland can be far more expensive than the UK.
• Likewise, correctly estimating moving costs means taking into account foreign exchange rates, as well as fixed and one-time costs such as legal fees, expenses for purchasing and renting property, and local administrative fees and taxes.
• Being in new, exciting surroundings may lead to overspending to take in the new cultural experience, without keeping enough funds on hand for emergencies.
• To meet financial obligations retained in the UK, expats need to factor in exchange rate fluctuations, and should try to obtain a six- to 12-month fixed exchange rate when possible.
• It is equally important to understand the local tax system and how taxes will affect the family budget. An experienced international financial advisor can help develop a sound financial plan.

Other important legal and financial considerations include:

• Updating wills that will be recognized in the new country of domicile.
• Setting up an overseas bank account to avoid excessive bank charges for domestic payments.
• Informing the HMRC by completing Form P85 to avoid having to pay taxes in both the UK and the new country of residence.
• Life insurance policies should be checked and updated to be sure they provide coverage outside of the UK.
• National insurance contributions to pensions set up in the UK must either be maintained if planning to return later in life, or an alternative pension plan should be set up.

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Cultural Issues - Mergers and Acquisitions

Companies in Mercer Study "Very Concerned" about Top Talent Departure

Only a small number of companies analyze cultural issues as part of their integration plans for mergers and acquisitions, according to feedback from global human resource leaders attending Mercer’s M&A Ready™ workshops. Only 25 percent of respondents indicated their company had a process for addressing cultural issues to ensure more successful business integrations.

According to Mercer, most companies seem to have a strong awareness of culture and talent issues in M&A situations. Regarding the risk of top talent departing the organization following an M&A transaction, virtually all attendees said they were concerned, with 46 percent saying they were “very concerned.” When queried about the level of prominence of people issues in M&A situations, 64 percent of respondents said that people issues are more prominent today compared to one or more years ago.

“It’s a concern that well considered cultural integration plans and processes are seemingly absent in many organizations planning M&A deals,” said Chuck Moritt, senior partner in Mercer’s M&A consulting business. “While many acquisitive organizations are aware of culture-related risks that surface in transactions, few organizations are doing enough to mitigate those risks ahead of time.”

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Working Abroad - UK Income Tax

UK Creates Tighter Rules for Expats' Income Tax

Under a proposed rule, British non-residents who work more than 20 days a year in the United Kingdom will be subject to taxes on their worldwide income, according to a report by Arabian Business. The rule could take effect on April 6, 2012, and signifies the country's efforts to tighten residency rules to boost tax revenue, according to Spencer Lodge, regional director at PIC deVere. HM's Revenues & Customs has issued a consultation paper on the planned rule, which considers individuals who spend more than 182 days in the United Kingdom as residents who are responsible for paying income tax. In addition, expatriates who spend between 10 to 182 days in the country would be tested for non-residency status based on factors like whether family members live in the United Kingdom, housing, and employment, Lodge said. He added that the new rule could affect thousands of expatriates from the Gulf Cooperation Council (GCC) region of the Middle East. The Institute for Public Policy Research Data estimates that 5.6 million UK citizens currently live abroad permanently while 500,000 do so temporarily.

MENAFN.com (07/28/11)

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Working Abroad as Expats

Singapore now more expensive than Hong Kong:

According to human resource firm ECA International, it said the Singapore dollar, which has surged by more than 10 percent against the US Dollar, pushed the city-state to third place above Hong Kong, with Japan and South Korea remaining the two most expensive countries.

ECA International carries out a survey twice a year by measuring a basket of common items purchased by expatriates in more than 400 locations globally, such as dairy produce, vegetables, clothing and meals out.

The survey does not include housing, utilities, car and school expenses as these items can make a significant difference to costs but, the firm says, are often compensated for separately in expatriate packages.

“While we are seeing price increases in a number of Asian locations, the main reason for Singapore’s rise in our ranking over the past 12 months is the strength of the currency,” says Lee Quane, the firm’s regional director.

He said allowances paid to protect the purchasing power of employees on long-term assignment in Singapore are now higher than those paid to international executives posted in many other financial centres.

In the latest ECA International survey, carried out in March, Singapore had leapfrogged Hong Kong to occupy sixth position in a list of the 10 most expensive Asian cities.

Tokyo was followed by Nagoya, Yokohoma and Kobe, while South Korea’s capital Seoul was ranked fifth. After Singapore and Hong Kong, Beijing, Shanghai and South Korea’s port city of Busan were the most expensive Asian cities for expatriates.

Globally, Tokyo heads the top 10 list followed by Oslo, Nagoya, Stavanger in Norway, Yokohoma, Zurich, Angola’s capital Luanda, Geneva, Kobe and the Swiss capital of Bern.

(Original Source : TODAYonline)

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Working abroad - coming to the UK?

Are you thinking of moving to live and work in the UK?

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Coming Home to the UK?

You will also find some great articles and resources at Ukresident.com by clicking on the below link:

http://www.ukresident.com/content/articles/working-in-the-uk

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Working Abroad - Scrutiny over US visas

Giant Indian outsourcing company under scrutiny over US visas.
Find out more in the New York Times article link below:
http://www.nytimes.com/2011/06/22/us/22infosys.html?scp=1&sq=infosys&st=cse



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10 most expensive world cities for expats

The 10 most expensive world cities for expats.
Rankings (out of 214)

2011      2010              City                     Country

1              1                  Luanda                Angola

2              2                  Tokyo                  Japan

3              3                  N'Djamena           Chad

4              4                  Moscow               Russia

5              5                  Geneva                Switzerland

6              6                  Osaka                  Japan

7              8                  Zurich                   Switzerland

8             11                 Singapore             Singapore
9              8                  Hong Kong           Hong Kong
10            21                São Paulo             Brazil


Where London - UK is ranked:
18            17                London                 United Kingdom

(Mercer report 2011)

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UK Proposes reducing the number of immigrants who can apply for permanenet residence

Foreign workers in the UK will have fewer options for settlement in the country under a series of new government proposals. Those working on temporary visas will not be able to apply for settlement, and the government will classify immigration various routes as either temporary or permanent. It will also be more difficult to extend a visa. "The proposals I am making today are aimed at breaking the link between temporary and permanent migration," said Immigration Minister Damien Green. "We want the brightest and best workers to come to the UK, make a strong contribution to our economy while they are here, and then return home," he added. Under the proposals, Tier 2 will be classified as temporary, though certain categories of value to the country will be allowed an automatic settlement route. There will also be an English language requirement for adult dependents of Tier 2 workers who are on a route to settlement, and Tier 5 temporary workers may stay only twelve months.
workpermit.com 14/06/11

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Working Abroad - U.S Tax compliance drives expats to despair of U.S.

American expatriates who are employed overseas are expected to file tax returns with the Internal Revenue Service (IRS), even if they do not owe any taxes in the United States, or face penalties.
Starting in January 2013, the Foreign Account Tax Compliance Act (FATCA) will require banks across the globe to disclose details of accounts containing at least $50,000 belonging to U.S. clients, or be subject to a withholding tax.
The legislation seeks to prevent the evasion of more than $8 billion in taxes over the next 10 years. Some individuals involved with the initiative believe it will generate much more, but will catch unawares many U.S. citizens. It may also put at-risk individuals who knew they were bypassing the filing rules yet could not afford professional help for filling out these forms, which generally costs about $2,000 per form, says American Citizens Abroad.
Meanwhile, a voluntary disclosure initiative launched in February will charge citizens penalties of a fourth of the money in their bank account. In early June, however, the IRS reduced the penalty rate for failing to file to 5 percent of assets for some U.S. citizens living overseas, although the provision may not be applicable to Americans living in the United Kingdom and Hong Kong with offshore income.
Many Americans are worried that banks will abandon U.S. clients to reduce their FATCA compliance costs.

(Financial Times 12/06/11)

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Working Abroad - Asia Pacific export guide

Great Asia Pacific export guide from the British Chamber of Commerce - Global Trader publication:
http://www.exportguides.co.uk/asiapacific

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Working Abroad - An introduction to the UK

Great website with know-how and tips on moving to the UK:

http://www.expatica.co.uk//essentials_moving_to/country_facts/An-Introduction-to-the-United-Kingdom_14501.html

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Working Abroad - Packing Tips and Know-how

Great article on ' packing tips from travel pros' click here
 www.nytimes.com/2010/05/06/business/06PACK.html

At expatknowhow we advise the following:

• Be clear on the type of trip you are taking and therefore what may be needed – location/weather type/air-conditioning/walking/entertaining/health needs etc….. 
• Plan the best type of luggage to use case/backpack and properly label and ensure the case is easily distinguished with a strap, ribbon or colourful tape. Many cases look the same when waiting at a conveyor belt. 
• Be clear on what items you may be able to buy that are cost effective when you get to your destination. 
• Plan your wardrobe; try to create a capsule set of items that can be mixed and matched and easily interchangeable and also try to choose items that do not easily crease or are easy to wash. Try to minimise footwear/bags by choosing a neutral colour that will go with everything.
• Plan your items and find a dedicated space to lay them out in advance of the trip. Or if space is an issue put the items in the case/backpack loosely as you think of them so they are all in one place when the time comes to pack. 
• Be clear on airline weight restrictions and carry on rules. Check the airline website. 
• When packing; place the heavy items at the bottom of the case (shoes/wash bag etc.) so that light items are on top and don’t get crushed.
•  Decant or buy small items of toiletries, many makes today have travel size options. 
• Make use of shoes and heavy items at the bottom of the case by filling with socks/underwear/swimming costume etc… 
• Wherever possible pack clothes in a tight roll and pack into a space tightly, this will minimise creases and crush marks. 
• If space is a serious issue then it may be worthwhile to vacuum pack some items. 
• When going to a cold country wear any heavy items boots/coat onto the plane to save the space and weight in the case. 
• Be prepared and always have a spare change of clothes and any spare glasses, medicines or contact lens solutions (be clear on the airline liquid restrictions) etc.. in your carry on luggage, as these may be needed in case the flight is delayed or you miss a connection or if the cases don’t arrive at the final destination.

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Working Abroad - China Cultural Briefing

It won't have escaped your notice that China is vying for position as the world's leading economic super-power. Improved international relations, government reforms and increased foreign investment make it an attractive location for international business.

 Awareness of Chinese culture will help communications and avoid ‘culture shock' when travelling. The ancient culture of the third largest country in the world, home to a fifth of the citizens of the planet, is fascinating and complex and there is much to learn. Here is just a brief overview;

Confucianism is a major influence permeating all of Chinese society. Revolving around the concept of harmonious relationships, it is manifest in an aversion to conflict, maintenance of proper behaviour and the preservation of ‘face' (honour or respect). Sincerity is valued above all qualities.

 It is important to be reserved and courteous when greeting in China. Here are a few tips to follow:

• If you are applauded as a welcome, return the applause 
• Greetings are formal and the oldest person is always greeted first 
• Handshakes are the most common form of greeting with foreigners (do not be overly vigorous when shaking hands as this can be interpreted as aggressive) 
• Many Chinese will look towards the ground when greeting someone 
• Address the person by an honorific title and their surname. If they wish to move to a first-name basis, they will advise you which name to use. 
• Be ready to laugh at yourself – the Chinese have a great sense of humour!

For much more information on business etiquette in China, see our guide, ‘Doing Business in China' – currently available to download for FREE. click here to subscribe to our newsletter worldwise.

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Working Abroad - Business Link to China

The British Chambers of Commerce (BCC) have recently launched 'LinkToChina' – the new UK-China business match-making project launched by the BCC and China Council for the Promotion of International Trade (The Chinese Chamber of International Commerce).

Go to this link to find out more details:

http://linktochina.tvchamber.co.uk/

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Working Abroad - Relocation to China

Interested to find out more about what companies are saying about and doing when relocationg people to China.
The Cartus Survey Shows Global Relocation Assignments into China Continue to Grow.
Click to go to this great article from Cartus  Relocation to China

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Medical advice and know-how for people living and working abroad

Health

When you travel to work and live in different climates and environments, you should be aware that there can be many health risks related to different diseases found in different countries that you may have never been exposed to before. To stay fit and healthy you should pay particular attention to food hygiene, the source of   drinking water and hand cleanliness.

Before planning to travel or move abroad you should ensure that you are fully aware of the health status of your host country and have taken appropriate medical precautions, such as immunisations and suitable medical insurance cover.
There are a number of resources available to provide advice and support. Your first stop should be to consult with your doctor.

In the UK your doctor can provide you with a free booklet 'Health advice for Travellers' which primarily gives advice on health and immunisations as well as the rules of the EU service. It is also advisable to ask for a copy of your medical notes to take with you if you have or have had any type of serious medical complaint.

to see more of this article click this link  www.expatknowhow.com/menus/main.asp?PN=Medical

In addition to the above advice, why not take a look at the Aviva new health passport to help you keep a track of your medical history and test results click this link www.aviva.co.uk/healthpassport

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