Challenges of Moving Abroad as a Corporate Expat

According to the Epoch Times, recent studies show that there is growing risk to moving employees overseas for long term assignments. For American expat’s it involves the tax complications. While potential expats around the world may not have to deal with tax issues they have seen, like Americans, expat packages decrease. “Employees often expect promotions upon returning from overseas assignments, but studies have shown that it’s not a guarantee. In addition, the global economic recession—a period often associated with cost cutting at companies and family unity for individuals—has lessened the draw of moving abroad. “In terms of expatriation and tax, the United States is one of the only countries in the world that taxes on worldwide income based on citizenship,” said Clarissa Cole, director at PricewaterhouseCoopers, in a recent report. “U.S. citizens working abroad continue to be subject to U.S. income tax, whereas other expatriates have no or limited continuing home-country tax obligations.” …The latest economic upheaval put a dent in the additional benefits of working abroad—including losing touch with family and coworkers, missing outon networking at the home base, and a drastic reduction of financial perks.”

Read more from Epoch Times

Asia in Expats: Cost of Living Increase

Many expats in major Asian cities are starting to feel a pinch as dollar slides. The cost of living has increased especially for expats in Japan. While those expats living in cities like Hong Kong and Singapore have also seen their US dollars not go as far. “Those who have moved to places such as Japan, Singapore, Indonesia and South Korea will require higher cost of living allowances in order to maintain the same purchasing power they had last year, he told AFP. “Japan remains the most expensive location in Asia largely because of the strength of the yen,” said Lee. The dollar recently hit 14-year lows against the Japanese unit.

Read more from AFP

ExpatFinder.com is here for you during your move or while staying abroad:

• Compare Expat Medical Insurance and get free quotes online.
• Browse Thousands of Serviced Flats World Wide.
• Get the best rates when moving money or making regular payments to another country from Expat Foreign Exchange Companies
• Find answers to all your relocatitng overseas.
• Search the largest selection of International Schools abroad.

Read more tips and advice for tools to help you with life abroad and life abroad. Join the Expat Communities!

• Join the Network for Expats on Linkedin.com 17,000 expatriate managers & recruiters
• Expats On Twitter List - Follow, Get followers

Ask us questions, Contact us today!

Photo by ShaneMorris

American Expat Tax, Expat money, expat package, Expat Tax, Expats in Jaoan, US Dollar abroad, US Dollar overseas

 

We take a look at expat news this week:
 

 

It’s China, or the Job

 

  “Spouses face difficult decisions when their partners are offered an overseas assignment My work life was one of the many areas in which I was extremely fortunate during my China venture. I was able to maintain relationships with the two magazines I primarily worked for before moving — Guitar World and Slam — while also greatly expanding the scope of my work, as evidenced by the column you are now reading.” Read more from Alan Paul   

 

Foreign firms trim housing budgets

 

  Foreigners working with multinational companies in China will soon find their good old days of staying in high-end, full-service apartments gone as a survey showed that the weakening economy has forced a rising number of multinational companies to review their housing budgets. Over 50 percent of multinational companies in Beijing are considering reducing their housing budgets, according to a research released yesterday by UK-based real estate advisor Savills. The 2009 China Corporate Expatriate Housing Budget Report interviewed more than 400 multinational companies from different industries currently operating in Beijing, Shanghai, Guangzhou and Shenzhen. It highlighted the expatriate housing budget trend in China.  Read more from: China Daily    

 

Picture by designhutt  

 

American expat in Singapore in top 16 for “best job in the world”

 

  SINGAPORE: An American expat in Singapore is one step closer to clinch what is touted as the “best job in the world”. Grey Reynen, 31, has made the final shortlist of 16 candidates. The physical education teacher was clearly overjoyed when he received the news on Friday morning. He said: “I had like a good feeling about it, I thought I was going to get it. So I was waiting and waiting… I was getting nervous, and finally the phone rang with a plus 61 country code. I think (from) Australia! “(The caller) went, ‘Hi Greg, this is Minister from Queensland Tourism Board. Congratulations!’ I said yes! Whoo!” The contest is organised by Tourism Queensland, Australia. The six-month job involves being the caretaker of the islands of the Great Barrier Reef. Leong Pik Yin, marketing communications manager, Tourism Queensland, said: “They’ll get to experience and explore the island in the Great Barrier Reef. They will do various types of activities, maybe like sailing, hiking, snorkling the Great Barrier Reef. “And then they are supposed to write about it in blogs, take photos and videos, we will see how they perform in those tasks. We will also see how they interact with the locals.” Read more from Channel News Asia  

 

China, Expat, expat jobs, expat package, expat relocation, expatriate, Housing, Jobs in China