Economy - Expat Magazine
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Moving to another country is never just a change of address. It is a complete change of lifestyle. A mixture of excitement, doubts, paperwork, dreams and expectations intertwine as you search for your place on a new emotional map. And for thousands of expats, that map always ends up pointing to the same spot: Spain.
Moving abroad requires careful planning and the ability to handle the unexpected with confidence. Sound financial management is key to building a stable, secure life overseas. From everyday budgeting to long-term investing, adopting the right financial habits will help you settle in smoothly.
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Arriving in a new country involves many things: new beginnings, new hopes... and new formalities. In this process, feeling accompanied makes all the difference. That's why, at CaixaBank, we offer you more than just a bank account. We give you a personalised welcome so that you can start your life in Spain with the support you need from day one.
You're a savvy expatriate who wants to save, or you've already started investing. Today's uncertain global climate calls for caution. But what should you invest in now? How can you save wisely to protect and optimize your wealth? With the right strategy, you can capture the advantages of different asset classes while limiting risk. Here's what to consider.
USA
The Trump administration's latest measures could make daily life harder for foreign residents. International students remain a primary focus, but other expats are also affected. For many, sending money abroad may soon become more complicated.
Are you required to declare your foreign bank accounts? After all, it's your money. You're not hiding billions in offshore tax havens—just keeping one or two old accounts from your student days or a stint working abroad. Still, if they go undeclared, those memories could end up costing you. Here's what you need to know.
For expatriates, the impact of receiving an income in a currency that is weaker or stronger than the local currency can significantly influence purchasing power. Over time, this disparity can even threaten the viability of the move itself. This article provides practical case studies and advice to help mitigate risks and minimize financial losses.
Since 2022, global foreign investment has consistently declined, a troubling trend that's stifling economic growth and hampering national development. This downturn not only curtails corporate initiatives but also dims the prospects for international work assignments. In response, the UN's Trade and Development Agency urges governments to take decisive action. Below is a detailed analysis of these developments.
According to the latest data from the United Nations, highlighted by Investopedia, Mexico is by far the top destination for American retirees, especially due to the country's proximity and the standard of living. Knowing how significantly the cost of living can impact modest pensions, what should you do when it keeps increasing despite a favorable cost difference from your home country? How can you optimize your retirement pension or supplement your income? Should you consider moving to a more affordable country?
Coming back home after having lived abroad can be both exciting and overwhelming. But let's put emotions aside for a second and focus on the practical side of things. Namely, finances. Let's start at the beginning.
Living abroad isn't always smooth sailing. Job loss, health problems, and unexpected life events can strike at any time. When tough times hit, where can you turn for help? How can you get through these challenges?
You've saved money for years for your moving abroad plans. Your visa has arrived, your bags are packed, your plane is ready, and so is your new life. But panic grips you on your first day in your host country: what if you haven't saved enough? Will you have enough money to live abroad? Here are some practical tips for a worry-free relocation.
As inflation continues to drive up expat budgets, you're probably playing it safe and considering making savings. Perhaps you're wondering where to invest your money or how to manage the savings you've accumulated. Here are some practical tips.
If you're planning to move abroad, you're perhaps in the middle of the process of obtaining your visa and residency permit. One of the required documents is proof of financial means. Apart from the often exorbitant amount, how can you prove you have sufficient funds to live in your chosen country?
In a world faced with inflation and other crises, you might be wondering how to cope with the cost of living. Diversifying your income is one of the first steps towards securing or even increasing your purchasing power. What are your options when living abroad?
During your first week abroad as an international student, one of your most important tasks is opening a local bank account. This is not compulsory, but it's strongly recommended because it will make your life easier and save you money in the long run. If you're confused about where and how to start, this article might help you.
Managing your finances as an expat can sometimes be challenging. Fortunately, online banking offers a practical and beneficial solution for expatriates worldwide. In this article, we will explore the benefits of online banking and see whether required to open a local bank account in their host country.
In September, some British expats received letters/emails that their UK-based current and savings accounts would be closed in 6 months. Compliance issues are increasingly complex and costly for British banks since “passporting” ended with Brexit, and for some high street banks, it's no longer practical to keep the accounts of citizens domiciled abroad.
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