Expat news
Banks and finance
In October 2022, the world feared that the dollar's rise would fuel a new inflationary spiral. It was then referred to as the "unstoppable force of the dollar," powerful enough to shake the currencies of major economies like Japan, the Eurozone, and the United Kingdom. However, in December, the tone changed: the dollar experienced a slight decline but remained strong, continuing to be the safe haven of 2023. On the other hand, other major currencies continued to weaken. Nonetheless, some countries resisted, mainly in emerging economies. What are the consequences for expats' finances?
China
A new law was enacted in China on July 1, 2023. It broadens the scope of what is considered espionage and grants the Chinese government increased authority to address perceived threats to national security. Here's what it means for expats.
USA
The Immigration Act of 1990 imposed a limit on the number of Green Cards that the United States can issue every year. Currently, about 1 million Green Cards are issued yearly. Most are Family-based Green Cards, while Employment-based Green Cards have a stricter cap of 140,000 per year. Furthermore, a maximum of 7% of these permits can go to individuals from a single foreign country. Such restrictions have created exceedingly long application backlogs for citizens of the top sending countries, namely Mexico, India, China and the Philippines.
Everyday life
The 17th edition of the Global Gender Gap, released on June 20, 2023, examines the progress of gender equality across four key areas: health and survival, education, the economy, and empowerment. Established in 2006, the Global Gender Gap Index is the longest-standing measurement of its kind. What insights can we gather from this latest edition? What transformations are occurring in various countries? Are we observing positive advancements or a concerning decline in the overall situation?
USA
Diplomatic negotiations between the US and India have paid off for Indian expats in the States. Many of these expats have been affected by the 2023 tech layoff, which put their right to remain in the US as well as Green Card applications, in danger. In June, President Biden announced a pilot program allowing laid-off expats to get a one-year work authorization document while they find another sponsor.
Formalities
Labor shortages continue to be a pressing issue worldwide, prompting countries to adopt various strategies to attract foreign talent. These measures include revising visa exemption policies, streamlining procedures to appeal to foreign workers, and introducing new visa options. Here are the latest updates on visa-related developments from the past month.
Everyday life
Are you looking to move abroad? The 2023 ranking of the world's most livable cities might give you some ideas. Last month, The Economist Intelligence Unit (EIU), the sister organization of The Economist newspaper, published its annual "Global Liveability Index," which ranks the friendliest cities to live in. The top 10 cities include destinations expatriates already appreciate for their living environments. However, this year's results are full of surprises, particularly in Europe and Asia. What has led to these changes?
Everyday life
As an officially bilingual country, Canada must ensure that French doesn't fall behind English in all of its provinces, not just in Quebec. In June, the Canadian government adopted a new bill to foster the immigration of francophone expats as well as promote the use of French in federal institutions.
Visas
The European Parliament needs to vote on a proposal that would ease non-EU expats' access to long-term resident status. That will make it easier for them to fully enjoy the EU's freedom of movement. Currently, there are de facto restrictions on taking up work in any EU country, even if you are a (non-EU) expat in one member state. If passed, the reform will allow these expats to immediately get long-term resident status in a second EU country if they relocate.
England
Here's some good news for English football clubs. The Home Office has recently approved new visa criteria for international footballers, resulting in increased flexibility for these foreign talents. This is advantageous for football clubs as they will be able to continue recruiting internationally. Now, does the Home Office's assistance extend to other foreign talent?
Argentina
The Argentine Congress might soon pass a new tax bill that will be a game-changer for remote workers who earn money from abroad. Until now, to legally keep their earnings in an Argentine bank, they had to convert them into pesos. The depreciation of the peso and lack of regularization of freelance work has pushed the state to come up with a bill that would allow these workers to leave up to US$30,000 unconverted in their Argentine account. The Congress's lower house has already approved this bill, but the upper house's vote is pending.
Visas
How can the smooth movement of individuals be ensured while effectively managing the external borders of the European Union? The European Commission has outlined its strategy: the digital Schengen visa. It has successfully reached a groundbreaking agreement in this regard. What does this mean for travelers and prospective expats?
Everyday life
Bali remains open to tourists and expatriates but in compliance with certain rules. I Wayan Koster, the Governor of Bali, has issued a new circular to clarify things. Effective May 31, it sets out new rules for international tourists and expatriates alike. According to the governor, who has observed a "growing laxity" among some foreign visitors, this measure is essential.
Cost of living
Where to move in 2023? Many would-be expatriates tend to scrutinize the various international rankings. Those already living abroad are seeing the effects of inflation on their daily lives. In New York, you have to look twice before you shop. The same applies to other major American cities. Other expatriation hotspots are also experiencing rising prices.
Tax
Last week, Belgium's Data Protection Authority ruled that the country must stop sharing the private financial information of Americans living in Belgium with the US Internal Revenue Service. What does this mean for American expats? Will this have an impact on their decision to settle in Belgium?
Indonesia
Indonesia is currently implementing new strategies to support the strong economic recovery observed in 2022. In addition to reforming its economy and encouraging innovation, the government is counting on wealthy and skilled foreigners. The health crisis has turned the organization of work upside down, and digital nomadism is at its peak. As a country that aims to become one of the top 5 largest economies by 2045, Indonesia is also luring wealthy investors.
Work
Countries facing significant labor shortages are making policy changes to attract international talent. Some of these include introducing immigration reforms, making entry requirements more flexible, and creating new visas. Here are some of the latest measures taken by different countries to attract foreign professionals.
England
The United Kingdom has experienced a significant increase in net migration since the Brexit vote in 2016, contrary to what was expected. The Conservative government is now trying to find other ways to curb the influx of immigrants.
Other Types
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H&R Block
Tax and retirement planning for US expats has never been simple—and 2026 adds a new twist. Alongside familiar considerations, the new Section 530A child savings accounts are entering the picture. The 530A program introduces a new opportunity for families abroad, adding to an already nuanced planning landscape.
Everyday life
Just a few years ago, living in a big city seemed to be a direct association with success. And so was moving to a big city. And a lot of expats, when relocating, were more driven towards big cities for this reason too. But things seem to be changing. If social media is to be believed (and yes, this is very debatable), a lot of people now prefer, given the choice, to settle away from the noise of a big city. Smaller sustainable communities are starting to emerge.
Children
We often talk about how difficult relocation can be for adults. You lose connections with friends and sometimes even family, you suffer from language fatigue, you need to adapt to a completely new way of life. This can be really hard on adults. But then what about children?
Work
Labor shortages in some sectors are playing out alongside unemployment rates that, depending on the country, remain stubbornly high. Young people are particularly at risk of failing to find work in their field or anywhere else. So, how are young professionals thinking about moving abroad in this climate?
Argentina
As an expat who has made South America's Southern Cone my home, I explained last year why Latin America is the new frontier and how to get residency here. This year, I've been spending a lot of time in the new Land of Opportunity: Argentina. After taking a chainsaw to inflation, President Milei has set his sights on citizenship by investment as the next lever to pull.
Everyday life
Expat life is often seen as an exciting adventure: a new country, new opportunities, and a rich cultural experience. Moving abroad represents, for many, a major life project — one filled with hope and the promise of a fresh start. When you make that move as a couple, it can feel even more reassuring. You're not going it alone; you have each other, with the shared belief that this change will bring you closer and create lasting memories together. And it truly can. But living abroad also brings profound upheaval: the loss of familiar landmarks, constant cultural adjustment, distance from family and friends, and sometimes a complete professional reinvention. All of these factors can unsettle not only your individual sense of balance but also the foundation of your relationship.
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