When it comes to losing weight, most agree that short-term fads don’t work. The only permanent solution is to maintain a sensible diet and exercise plan over time. And it's the same with investing. Get-rich-quick schemes or investments won’t work. Despite all resources dedicated to making short-term investment predictions, the reality is that no one has the ability to consistently foresee the future. The truth is much more mundane: Long-term investing success rests on avoiding...
With the introduction of the U.S. Foreign Account Tax Compliance Act (FATCA), most expat Americans have found that trying to avoid U.S. tax by investing offshore doesn’t work. American citizens and green card holders are subject to U.S. tax on all of their global income, even when they live outside of the United States. The complications can be considerable: An American expat’s current country of tax residence, their source and type of income, and any...
Volatility in global markets picks up sharply as investors’ worry grow and discontent spreads. Talking heads on financial news programs discuss uncertainty over economic forecasts while U.S. treasury yields plunge and crude oil and gold prices rise and fall. For expatriates trying to manage their long-term portfolios, there are times that financial news flow and market volatility can be particularly unsettling. In this environment, what should expat investors do? Nothing is more detrimental to your...
This article is for general information purposes only and is not intended as specific tax advice. Please consult your tax advisor for advice relevant to your situation. It’s that time of year when many Americans living overseas are collecting the various documents needed to file their 2019 U.S. taxes. Below we’ve provided an updated checklist to help you with filing; this list should be used as a starting point only. Please note that U.S. citizens...
As you look for a holiday gift for your favorite expat or perhaps just for some interesting reading over the holidays, have a look through our annual list of highly rated books, especially selected with the expat reader in mind. All can be easily purchased on the internet, and while some are more serious, others are just for fun. For those expats who may live far away, most of these titles have digital and audio...
As the end of the 2019 tax year approaches, expats working in Thailand may wish to consider sheltering some of their income from Thai tax by contributing to Thailand’s Long-Term Equity Funds (LTFs) and Retirement Mutual Funds (RMFs). With a little bit of planning, you can save up to THB 350,000 (or about USD 11,700) this year in Thai taxes by contributing to both of these tax-advantaged funds. Important: LTF tax privileges are due to...
Creveling & Creveling is required by law to protect clients’ privacy, and does not release client information to third parties without written approval. The following is a fictitious example designed to demonstrate the value of proper financial planning, and does not refer to any specific case. The Situation Steve and Denise are a Canadian couple who have been working in Southeast Asia for the past seven years. Steve works in the oil industry, while Denise...
To enjoy your ideal expat life, you need to embrace proper planning and have an awareness of the challenges of building a life overseas. Whether you’re a retiree or a professional on an extended stint as an expatriate, here are some financial issues you need to consider as an expat in an emerging economy. Cost of Living Yes No Have you researched cost-of-living expenses in your country of residence? Have you researched historical inflation rates...
If you're lucky―and we certainly hope that you are―nothing will ever go seriously wrong for you and your family while you’re living overseas. But unfortunately, the reality for most of us is that at some point, something adverse will happen. Your spouse may lose their job, or your family business may fail. Someone could fall seriously ill, become disabled, or even die. While none of us wants or expects anything bad to happen, it's important...
Once you've gotten your financial affairs in order after moving overseas—by limiting your number of financial accounts, getting a local credit card and opening an online brokerage account, among others—it's a good idea to set up ways to keep track of your finances online. They'll save you time and simplify the management of your finances, giving you more time to enjoy life as an expat. Here are six we recommend: 1. Have all account statements...
While Americans are taxed on worldwide income and assets and are actively discouraged from holding investments outside the United States, non-U.S. expats can often realize substantial tax benefits from investing in offshore markets. Non-U.S. expats are typically not taxed by their country of citizenship on income and assets held outside their home country. Additionally, many Asian countries do not tax expats on their investments and income earned beyond their borders. This creates a substantial benefit...
This article is for general informational purposes only and is not intended as specific legal or tax advice. Please consult your legal or tax advisor for advice relevant to your situation. At this time of year, many Americans living overseas are collecting the various documents needed to file their 2018 U.S. taxes. This year, in addition to the sometimes obscure U.S. tax forms that U.S. citizens living overseas are required to file, expats need to...