Offshore Tax Evaders: Time to “Pay or Pray”

October 14th, 2009

Well, it’s tax time for those that elected to extend it to October 15th. And it is a different year for many U.S. citizens that have historically tucked money away offshore that in the past would have been safe and sound from the reaches of the IRS. Well, the taxman cometh, and with a passion.

As expats are actually overseas and many encounter offshore options more frequently because of this reality, we thought it was relevant to review articles such as this one, titled Tax Evaders Face Choice: Pay or Pray found on the NYTimes.com.

For those that encounter other expats regularly, is this a topic of discussion you’ve noticed? While you certainly don’t have to be an expat for this to be relevant, it seems that it would be on the average expats radar more than someone still in the States.

Expat Blues: Sweet Home Beijing

October 12th, 2009

Even though we’ve highlighted Alan Paul’s former blog, “The Expat Life,” oodles of times here on our own expat blog, we can’t pass up one more chance to bring attention to another article of his on WSJ.com.

In the article, titled Sweet Home Beijing,” Alan sums his experience in the band, which included playing shows during the Beijing Olympics, recording an album and, following his repatriation, a return trip to China to help promote the new release.

Here are just a few reasons why I find Paul’s experience so compelling:

  • First, he was a “trailing spouse” that landed in China because his wife accepted an assignment there. I don’t know exactly how he felt about it, but either way, he found a way to make it work.
  • He utilized his hobby, an art form (music), to connect with locals. These relationships seem to created a meaningful experience for him.
  • The band he helped create really blossomed in China. He played in several areas of the country and did well in the l

British Expats “Scrounging” Health Care?

October 7th, 2009

Are British Expats “scrounging” health services in Spain? They are according to the media and certain doctors in the Alicante area. The doctors insist that a growing number of British expats are showing up in their operating rooms to avoid lengthy delays in the U.K.

Of course, the root of the controversy is a limited amount of funds for health care. Spanish officials insist that they are not properly compensated for the services they provide to foreign EU citizens.

I found it interesting because it makes me wonder what will happen in the U.S. if the increase in health care coverage results in extensive wait periods for procedures. Both sides of the health care debate have taken positions on this issue, and I personally feel that it is impossible to say exactly how increased coverage will impact availability. Those in the trenches say either you can or cannot compare what will happen in the U.S. to other nations’ health care systems. Frankly, it seems obvious to me it will be its own unique system, and we won’t really know what that will be until long after it is rolled out.

It would be interesting to hear from expatriates experiences on our new Global Expat Forum or in comments to this blog post!

Roman Polanski Controversy - Hiding Via the Internationl Experience

October 5th, 2009

The recent arrest of film director Roman Polanski has ignited a fiery debate among other artists various media outlets. Polanksi, who might not accurately be described as an expat, has lived such an international lifestyle that it is worthy of of mention in our blog. While he was born in Paris, his family moved back to Poland in 1936. Following, the Nazi invasion, he escaped the Krakow ghetto in 1943. His mother died in Auschwitz, and his father survived the Mauthausen-Gusen concentration camp. He eventually lived in London, Los Angeles and elsewhere in Europe. In short, he was well versed with crossing international borders and he jumped when it became clear he was going to be held accountable for his actions.

One of the reasons that I find it relevant is the fact that Polanski is not the only individual, obviously, who moved to a foreign country following the commitment or conviction of a serious crime. Last month we posted this request by U.K. officials for the help of British expats in securing the arrest and conviction of criminals in Spain. I often wonder how many expats have come across a fellow countryman (or woman) who is hiding from the authorities.

And don’t miss Chris Rock’s comedic diatribe aimed at the people that defend Polanski’s actions (From E! Online).

Olympics Define the True Spirit of International Living

October 1st, 2009

While it’s not exactly about living abroad or moving overseas, what captures the spirit of international living better than the Olympic Games? In short order, we will know the location of the 2016 Summer Olympic games. And it is an exciting time for the cities/countries hoping to attract the largest sporting event in the world. Much is on the line. Aside from drawing the interest of people from all over the world, it obviously secures billions of dollars of investment.

As of right now, it seems that Chicago is the front runner to win the bid. Rio, Tokyo and Madrid are the other cities that have emerged as front runners. However, the article linked here points out that the process used to arrive at the eventual winner makes it quite difficult to predict who will eventually be selected:

“The round-by-round system makes predicting a winner perilous, because the outcome depends on how members shift their votes after their favorite candidates are eliminated. If Madrid is ejected first, would its supporters swing behind Rio, Tokyo or Chicago, and by how much in each case? And if Tokyo goes out next, where will its backers go? The variables are such that any city could conceivably go out — even if Chicago and Rio have long been seen as the front-runners.”

As an aside, I cannot believe we are really preparing for the 2016 games. Anyone else feel like the millennium was yesterday?

Can Expats Live Without T.V.? Should You?

September 25th, 2009

Reuters/NYTimes.com just ran a story about some of the television-free options available to U.S. expats who want to watch their T.V. shows from home. While there are more options available to expats other than the ones covered in article, it does a decent job of evaluating some of the hardware and services that can get the job done.

What was more interesting to me is that the article was filed under the “artsbeat” section of the Times. It got me to thinking about whether or not T.V. is actually art. The article mentions “American Idol,” of which I’ve never watched a single episode, and one of the many reasons is that it seems to be more about the business of music and show biz personalities than music. I’ve written on ExpatExchange.com a lot about how every person needs to figure out for themselves what will help them settle in abroad, and if that means channeling some of the banal comforts from our American culture, than so be it.

What I’m most curious about though is how many Americans abroad decide to forgo American television, or television altogether, and how easy or hard is it to make that decision? I’m not advocating it one way or another, but it seems relevant given the research that has established the impact television habits can have on individuals. How does it impact the expat experience?

Put on Your Badges, Expats!

September 23rd, 2009

Crimefighters in Britain reached out to their countrymen in Spain in an effort to help apprehend some of the more hardened criminals thought to be hiding out there. The types of crimes include murder, rape and child abusers. Expats, put on your badges and walk a beat in Spain! (Links to an AP story via Yahoo! News.)

“The British crime-fighting charity Crimestoppers and the Serious Organised Crime Agency made the appeal at a press conference in the southern city of Malaga in which they added 10 new names to their existing list of 17 suspects believed to on the run in Spain.”

Of the initial list of 40, there have been 26 arrests. It’s amazing how the extension of communications and television content across nations has created such an opportunity. With over one million British citizens in Spain, it’s hardly a small market to tap into.

If nothing else, it also reminds us how the world continues to shrink. I’m sure that criminals used to hide out in another country, where a foreign language is spoken, and felt a lot more secure than they do now. Twenty-six out of forty? That’s unbelievable!

Expats May Lose Homes and Land in India

September 21st, 2009

Over the last several months, we have highlighted a few articles about problems expats face when they purchase property abroad. It increasingly seems to be one of the major risks of international living. Perhaps most famously, there have been large numbers of British expats that have lost property in Valenica, Spain.

Now, this issue has reared its ugly head again in India. In an article about British Expats losing property in Goa, TimesOnline.co.uk reports that many of these individuals face large losses in their financial positions after following the advice of local lawyers and builders. Charges of racism have been leveled by these expats, too, who report being told to “go home.” Yikes.

As stated above, when moving overseas, every expat needs to be aware of the fact that purchasing land and/or housing abroad carries risk, and an intimate knowledge of local laws should be viewed as compulsory. Even then, these risks remain. Buyer beware.

Expat Travel: Improved Air Filtration for Airlines?

September 15th, 2009

One of the obvious hazards of an international lifestyle are the health risks associated with exposure to large numbers of people that might have infections that your immune system may find difficult to fight. Commercial air travel has long been one of the prime culprits, as it places a large group of people together in a cabin with recirculated air.

According to this article, expats that fly may be a bit safer with the development of a new air filtration system:

“A revolutionary new air filter could help reduce the spread of swine flu and other illnesses among passengers on board commercial airline flights, British researchers say.

“The aerospace giant BAE Systems has joined forces with a Quest International, a small company based in Cheadle, South Manchester, to develop a machine that destroys up to 99.9 per cent of infectious viruses and bacteria as well as pollutants that can circulate in the confines of an aircraft, especially on long-haul flights.”

My reaction to this article is the same one I’ve had whenever this topic comes up: Airlines don’t already have that? I find it hard to believe no entrepreneur tried to make this work already. Maybe the airlines just weren’t interested?

Some U.S. Expats Fear Offshore Banking and Taxes Investigators

September 10th, 2009

Experts in expatriate and offshore finances are receiving a large number of inquiries as to how U.S. expatriates can ensure that they will not be penalized, prosecuted or both. This is due to the heavy push U.S. tax authorities are making toward locating undeclared assets and income abroad.

FT.com has put together an article about U.S. Expat Taxes that covers the panic as the deadline rapidly approaches. The article indicates that the a U.S. Senate Committee believes that losses due to tax evasion exceeds $100 Billion annually.