| Easy Expat

Free Independent Wealth Management seminars for foreign nationals

easyexpat | 20 August, 2008 13:29

HSBC offers a series of free Independent Wealth Management seminars for foreign nationals.
The next seminar presented by HSBC International Financial Advisers (UK) Limited (HSBC International) is in London on 17 September 2008 and will cover international tax and financial planning.

Are you a foreign national living and working in London? If so, there is every chance that you could enjoy a number of tax advantages that this status offers. But where can you get reliable advice and guidance on effective financial planning? This is where one of HSBC International’s free seminars could help you. Seminar details are given below.

The seminar, entitled ‘International tax and financial planning for foreign nationals’, will cover a wide range of topics that could be of benefit to anyone living and working abroad. In particular, how you can benefit from our independent financial planning advisory service.

HSBC is one of the biggest and most respected names in the world of finance, with an unrivalled global reach. We can give you access to a truly Independent Wealth Management service that starts with a no-obligation, comprehensive financial planning review. You can be assured that your adviser will select only the most appropriate solutions to help you achieve your financial goals and aspirations.

To find out more about the seminar and to reserve a seat, please call +44 207 991 9641, or email hsbcint.financialadviser@hsbc.com. Leaflets also available here.

Date: Wednesday 17 September 2008
Time: 6pm to 8pm, refreshments served
Location: HSBC Private Bank, The Grand Room, 78 St James’s Street, London SW1A 1JB

Different legislation in Europe for immigrants

easyexpat | 19 August, 2008 14:20

As there are more voice in Europe calling for unifying rules for immigrant workers, we present an overview of the situation in some countries:

United Kingdom: 509,800 legal immigrants in 2006

No quota
No necessity of a contract for integration
Family regrouping
Necessity of a work contract (with point system)
Language test

France: 135,100

No quota
Family regrouping (with conditions)
Necessity of a contract for integration
Necessity of a work contract (with a list of priority sectors)
Language test

Spain: 803,000 (the government has proceeded to a large legalisation)

No quota
Family regrouping (with conditions after 1 year)
Necessity of a contract for integration

Belgium: 83,400

No quota
No necessity of a contract for integration
Family regrouping (with conditions of income)

Netherlands: 67,700

No quota
No necessity of a contract for integration
Family regrouping (limited to the work contract duration)
Language test

Denmark: 23,000

No quota
No necessity of a contract for integration
Family regrouping

Germany: 558,500

No quota
No neccessity of a contract for integration
Language test
Family regrouping (for contracts more than 1 year)

Italy: 181,500

No necessity of a contract for integration
Quota
Family regrouping (with conditions)
Necessity of a work contract (with conditions of income)

Source: Le Monde 8/07/08

In the European Union, illegal immigration measures are taken with a majority vote. However countries are still in charge of legal immigration rules and EU decisions can only be voted with unanimity. There is no common agreement about mass regularisation, despite EU minimum conditions for sending back clandestine.

However, since the publishing in 2005 of a report on "approche communautaire de la gestion des migrations économiques", the EU Commission has suggested to set up a Blue card, equivalent to the US Green card, that will give access to the whole EU work market.

Largest ever survey of expats - Final results

easyexpat | 05 August, 2008 17:05

Four months ago, we talked about HSBC's project to conduct the largest ever survey of expats. The project aimed to give more than 2000 expats across four continents the opportunity to have their say on what life is really like for people living and working away from home, looking at opportunities that come with starting a new life in a foreign country away from home, and the challenges and difficulties that they may face at home and at work.

EasyExpat gave echo to this project, and therefore is today able to have access to the final results.

The survey revealed that Singapore, the UAE and the US are the best locations to be an expat, according to findings of its Expat Explorer survey, the largest international survey of expats ever conducted.

Expat Existence, the first report in The Expat Explorer Series, ranked the top rated places to live based on expats’ living standards, an expat’s ability to earn and save, a country’s popularity (longevity), and the level of luxury experienced.

The Expat Explorer Survey questioned 2,155 expatriates across four continents, examining the opportunities, challenges and difficulties that come with a life away from home. This included how easy expats found it to integrate, how they viewed the changes in their lifestyle, and their children’s experiences in a new country.

Paul Say, Head of Marketing and Communications at HSBC Bank International, said: “The global expat community is vast and living in foreign countries means expats don't often have the normal outlets to express their viewpoints. This survey has allowed us to delve into the lives of these expats on an unprecedented scale and reveal some fascinating trends into how life differs from country to country.”

The UK (14th) and France (13th) were some of the lowest rated expat destinations in the survey, scoring low on their levels of luxury and accommodation. Spain and China also rated poorly, ranking 12th and 11th respectively. Australia featured 10th in the survey, scoring highly on levels of luxury, ability to earn and save and accommodation, but scoring lowly for longevity.

Earn and Save

Hong Kong-based expats have the highest salaries in the world, with almost half (49%) earning more than £100,000 p.a., with the highest paying professions in finance and management. Despite the current economic climate, expats spend more whilst still being able to save. More than half (52%) of expats spend more on food, 49% more on shopping and 45% more on socialising in their new country of residence and 58% also invest and save more in their resident country. Top countries for saving included India, the UAE and Singapore.

Accommodation

Almost three quarters (74%) of expats living in Singapore said the quality of their accommodation had improved since moving away from home, the highest amount recorded in the study. This was followed by expats living in the United States (61%) and Belgium (59%). The UK was identified as the most expensive expat location for accommodation, with more than three quarters (85%) of expats living in the UK revealing that their living costs had increased. Only one-fifth (19%) of respondents living in the UK stated that the quality of their accommodation had increased. India was the cheapest country, with only one-fifth (21%) of expats living in the country claiming that their costs of accommodation had increased.

Longevity

Europe is a popular destination overall for its longevity – more than three quarters (82%) of expats now living in the Netherlands have been there for three or more years, followed by Germany (77%) and Spain (76%). Ireland and New Zealand have the greatest percentage of global travellers, with more than three quarters (80%) of respondents originally from both countries stating that they had been away from home for longer than three years.

Luxury

The report also investigates whether expats’ lifestyles are more luxurious than the lives they left behind and how long people are choosing to stay living away from home. Countries were rated on a number of categories including access to private healthcare, access to more than one property, ability to own a pool and to employ staff (such as cleaners).

Across the 11 categories of perceived luxuries, on average expats reported an increase in eight of these factors, with employing staff ranked as the highest increase. The UAE was the most luxurious destination, with expats enjoying increases in 10 of the 11 categories, followed by Singapore and India. The UK was ranked the least luxurious with decreases recorded in nine of the 11 luxuries.

“The Expat community is highly important to a number of different economies throughout the world and getting this kind of insight into their everyday lives is helping to shed more light on a highly diverse and far reaching range of individuals,” said Mr Say.

“Overall, the Expat Explorer survey will deliver some unique insights into a range of facets of Expat life, with our next report looking at the subject of offspring and some of the issues Mums and Dads face as parents of expat children. Our third report, centred around Integration, will then focus on some of the challenges faced by expats as they move from place to place.“

Top ranked countries
Rank	Accommodation	Earn & Save	Longevity	Luxury
1	Singapore	India	Netherlands	UAE
2	US	Hong Kong	Germany	Singapore
3	Belgium	Singapore	US	India

To see more of the findings and the full league table of the first report in the Expat Explorer series, visit http://www.offshore.hsbc.com/expatsurvey.

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