News

Europe’s Blacktower opens U.S. outpost, welcomes American expat clients

The Blacktower Group, until now a mostly British-expat focused, pan-European advisory business based in Gibraltar and the UK, has established a presence in the U.S., and is gearing up to provide pension and financial planning advice to Americans resident in the U.S. as well as abroad.

December 17, 2018
News

Is Las Vegas an indirect beneficiary of FATCA? Some say it is looking this way...

FATCA: Looming confrontation seen between U.S. and Common Reporting Standard-compliant countries

The eight-year-long effort by organizations representing American expats around the world to convince the U.S. government to abolish FATCA appears likely to soon find itself in the middle of another battlefield.

December 17, 2018
News

Matt Stross, legislative aide to Rep. George Holding, with Republicans Overseas chief executive Solomon Yue, in Washington

George Holding TTFI bill ‘now set for 2019 vote’

Legislation that its proponents have said would significantly improve the lot of America’s 5.1 million to 9 million expatriates – which had been expected to appear before the end of the year, after failing to materialize in September – is now unlikely to be presented to the House of Representatives…

December 16, 2018
News

Glimmer of hope seen in IRS proposal to tweak FATCA regs

After more than eight years of lobbying Congress and the White House, opponents of the 2010 Foreign Account Tax Compliance Act are cautiously welcoming news that the Internal Revenue Service has issued a proposal to make major changes in that legislation and certain other reporting requirements that have made life…

December 14, 2018
Tax
Written by Helen Burggraf

The U.K.'s Tier 1 visa program has helped to keep demand high for pricey London residential properties

U.K. decides not to suspend its 'golden visa' scheme after all

In an unexpected about-face that has drawn criticism from some groups, the UK has decided not to go ahead with a planned suspension of its so-called Tier 1 Investor program.

December 13, 2018
News

Randy Landsman, CEO, Beacon Global Group, and James Pearcy-Caldwell, CEO, Aisa Group

Beacon Global to help Aisa Int’l accommodate U.S. expat clients

Beacon Global Group Europe, a Netherlands-based wealth adviser network specializing in looking after American expats, has entered into a strategic agreement to assist the international arm of Aisa Group with its American expatriate clients, the companies have announced.

December 12, 2018
Wealth Management
Written by Helen Burggraf

AmCham China to add chapter in Shandong province

The American Chamber of Commerce in the People’s Republic of China has announced that it’s to establish a fifth chapter in the country, in Shandong province, following the signing of a memorandum of understanding with the region's Commerce Department.

December 10, 2018
News

Hong Kong tops new ranking of most resi properties sold for US$25m-plus

Hong Kong saw the greatest number of sales of ultra-prime residences costing more than US$25m (£22.1m, £19.9m) in the year to the end of August, according to a first-ever assessment of this market by Knight Frank. New York and London ranked in second and third place respectively, the London-based property…

December 10, 2018
News

Woodbrook CEO Doherty: ‘U.S. citizen-focused biz within 12 months’

The Woodbrook Group, a fast-growing advisory business based in Cyprus that recently revealed its plans to undertake a reverse IPO in the States, is to begin looking after U.S. citizen clients around the world within the next 12 months, its founder and chief executive has said.

December 6, 2018
News

U.K. latest to suspend 'golden visa' program, citing money-laundering concerns

The U.K. has become the latest country to move to slow, or eliminate completely, a “golden visa” program that was originally designed to enable wealthy foreigners to live within its borders, and eventually qualify for a passport, in exchange for investing a minimum amount in the country's businesses.

December 6, 2018
News

IRS updates regs for handling taxpayers with undisclosed offshore funds

The Internal Revenue Service has updated its guidance for the handling of U.S. taxpayers who come forward with previously-undisclosed funds, and in the process introducing, as it said it would, a tougher approach.