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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