Expat news
Work
Here's some great news for all prospective immigrants to Spain. On August 16, the country finally passed new laws concerning immigration. Spain is currently facing a labor shortage. Some industries are particularly affected. By inviting foreign workers, the country wants to revitalize its economy. Below is an explanation of the main features of these legal amendments.
Everyday life
In March, the German government announced that it would be disbursing a one-off relief payment of 300 euros to help households face the rising cost of energy. This relief payment was meant to be debited in September and originally concerned everyone. But since then, things have changed. Not all people residing in Germany will be eligible for the relief payment. So who is currently eligible and under what conditions? Are expats concerned?
Visas
To solve the country's labor shortage and visa backlog, the Canadian government has recently introduced new reforms in the Immigration, Refugees and Citizenship Canada (IRCC) department to speed up immigration, residency and citizenship processes. The reforms cover exemption from medical exams as well as the digitalization of visa/permit applications, interviews and status trackers.
Visas
Singapore's Ministry of Manpower has announced a new 5-year Overseas Networks & Expertise Pass (ONE Pass) for top talent who earn at least 30,000 Singaporean dollars (21,400 USD) a month or have exceptional achievements in business, the arts, sports, academia, science and tech. This visa aims to attract the cream of the crop of expats after the economic impact of the pandemic. It is needed to solve the country's labor shortage, drive economic growth and bring down inflation.
Visas
On 3 September, Australia increased its permanent migration cap for the first time in 10 years. This financial year (June 2022-June 2023), the country will welcome 195,000 instead of 160,000 new permanent residents. This measure aims to solve the acute labor and skills shortage that Australia has been facing since it closed its borders during the pandemic.
Work
Estonia, Croatia, Germany, Costa Rica, Cap Verde, Brazil, Ecuador, Cyprus, Mexico, Portugal, United Arab Emirates, etc. The list of countries issuing digital nomad visas keeps growing. While these new workers kept a low profile some years ago, they are now revolutionizing the labor market. Covid has propelled them, and thousands of workers are now moving abroad to combine a comfortable lifestyle with their professional careers. But who benefits from this new way of working? Locals are clenching their teeth as they face what they call “an invasion.”
Visas
On 22 August, the British Home Office announced a new scale-up visa to attract foreign workers with sought-after skills. This visa, which is different from the existing Skilled Worker Visa, allows approved “scale-up businesses” to recruit professionals from anywhere around the world. These professionals will get a 6-month job offer. At the end of this period, they can switch to another job without any sponsorship.
Schools & studies
International students are officially allowed back into China after more than 2 years of autarky. Is this a tangible sign of a return to normality? Be careful, though. For even if the official announcement was made on August 24, borders haven't reopened for everyone.
Everyday life
Rising inflation is very likely to be a pain to households and families in Europe.” On Friday, August 26, the Chair of the Federal Reserve System (FED) of the United States, Jerome Powell, warned of a difficult future for millions of Americans – difficulties that are also threatening Europe. For now, a full-blown recession has been avoided. But ominous signs keep cropping up. Winter will be cold, and we're not only talking about the temperature. Moreover, the deterioration of European economies is raising fears of a slide into recession. This is raising significant concerns among expats and prospective expats.
Visas
New Zealand has recently increased the number of working holiday visas for the year 2022/2023 as a temporary measure to deal with its skills and labor shortage. Since Covid, some sectors like tourism and construction have struggled to recover their workforce. An additional 12,000 working holiday visas will allow foreigners to fill the labor gap in these sectors, at least in the short term. The terms of the Accredited Employer Work Visa have also been relaxed to attract foreign labor.
Visas
The United Arab Emirates (UAE) is continuing its extensive immigration reform. After the introduction of new categories for the Golden Visa, the relaxation of residency rules for expats, the extension of the grace period after a visa's expiration date, and the creation of unemployment benefits for locals and expats, the UAE has just announced new immigration reforms applying to tourists and expats. But not any of them. The UAE is targeting international talent and wealthy foreigners. What are the new visas offered and their benefits?
Tax
Its borders have reopened, but tourism is struggling to come back to life. Two years into the pandemic, Cyprus is again facing a summer with very few holidaymakers. A bad sign for the economy, which is battling against inflation and the repercussions of Covid. The government believes it has found a solution: attract more expats, especially well-off ones. Cyprus is luring foreigners with new tax breaks. What's changing for expats? Why is Cyprus counting on them?
Cost of living
Since the 1970s, the private sector of Gulf countries has been relying on expat labor. However, as Arab Times and the Jerusalem Post report, expats are now leaving massively because of the pandemic's impact on both the oil and non-oil sectors, the lack of subsidies for non-citizens, and job nationalization. The most affected are middle-class expats, who rarely receive a support package from their employers.
Accommodation
The Bank of England has relaxed mortgage eligibility criteria from August 1, 2022. The affordability test to take out a mortgage now only requires the buyer to prove that they can afford a 1% rise in the variable interest rate over the repayment period. Previously, it was 3%. This is good news for expats who want to buy property in the UK, especially first-time buyers who only have a small deposit.
Visas
On Thursday, August 4, 2022, Portuguese President Marcelo Rebelo de Sousa issued a new "legal framework of entry, permanence, exit and removal of foreigners into and out of the national territory." How will these changes affect expatriates and people who are looking to relocate to Portugal? How will this affect immigration to Portugal?
Work
All countries around the world are keeping a close eye on inflation. In fact, the levels are particularly alarming in certain countries. Other countries are faring better, but none of them can rejoice for being out of the red zone. Workers are sour and are seeking raises. This would be counter-productive, according to some economists, but is vital, according to others.
Everyday life
Six years after the 2016 referendum, the full consequences of Brexit are still unfolding. Expatriation has become complicated for UK citizens. International media report that expats are being informed by British banks that their EU-based accounts will soon be closed. In Spain, British driving licenses were also recently rendered invalid.
Work
An inevitable reconfiguration of the labor market is brewing in Europe. According to the European Commission, the number of digital workers will almost double by 2045, leading to profound changes in the relationship between employers and employees. Given the growing trend of its cross-border workforce, the European Union recognizes the need to step up its legislation to better protect European workers, regardless of the nature of their jobs.
Other Types
Schools & studies
There is so much more that goes into the choice of a university today than even a decade ago. International students especially have the whole world to choose from. And while before students were more focused on the theoretical benefits of a certain degree, today, with so many less traditional options for learning (online, via social media, private tutoring, etc.), there is a lot more a traditional institution has to offer, especially given the price of formal education.
Banks and finance
If you are like most expats looking to purchase a home overseas, you will probably need a mortgage. This typically means applying to a bank or lender in the country where the property is located. The process can be different and more complex than in your home country, especially for non-residents, as financial institutions are cautious about lending across borders. In some places, the route from application to approval is relatively straightforward, but in others it can be much more challenging.
Work
You may be dreaming of managing your team abroad or opening or taking over a business overseas. But already, a thousand questions are challenging you. Are you really cut out for a leadership role, especially in another country? Here's some practical advice to build your confidence before embarking on the expat project that's right for you.
Work
More young professionals than ever are choosing to start their careers abroad. Driven by the rise of digital nomadism, economic uncertainty, and the promise of new opportunities, they are increasingly willing to cross borders in search of a better future. But what do young expats really expect from their first job overseas? And how do their career goals compare with those of earlier generations?
Paraguay
A new investor residency rulebook landed last month, and for anyone weighing Paraguay as a place to actually live, the numbers are surprisingly friendly. If you've been quietly researching Paraguay as a possible new home base, for the taxes, the cost of living, the easy residency, or just because the rest of the world feels increasingly expensive and complicated, this one is for you.
Tax
Postcard-perfect beaches, luxury villas, sports cars and a jet-set lifestyle: social media often paints expat influencers and content creators as financially free and permanently on vacation. Behind the filters and sponsored posts, however, lies a much more complex reality. As more freelancers, influencers and digital creators move abroad to optimize their lifestyle and income, tax authorities around the world are increasing their scrutiny. So how can content creators relocate overseas legally, optimize their taxes, and avoid crossing the line into tax evasion?
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