Here are the latest expat savings rates. Many expats can benefit from using offshore bank savings accounts.
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Here Are The Top Savings Rates For Expats – October
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Let’s have a look at Why Expat Tenants Need Home Insurance
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Even before you moved to Hong Kong, you may have heard about the highly unaffordable rent in the city, which always ranks top among the world’s most expensive housing markets.
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What South African expats need to know about financial emigration and recession
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With the South African economy currently in recession, lessening the effects of Rand volatility is a top priority for many people at the moment. Many expatriates have retirement funds and other assets in South Africa that they would like to withdraw and transfer offshore. This is known as the process of financial emigration. SAFFA.com had a look at the most common questions about this process below.
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The rand takes the gap
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The rand was the 2nd best performing currency last week, taking advantage of a simmering trade war and China’s announcement of a stimulus package to boost its economy (tax cuts).
Last week’s gains demonstrated how volatile the rand is, and it wouldn’t take much for the local unit to reverse gains. The big news for the week is Friday’s US jobs data, with Tuesday’s SA trade balance and a host of local data releases providing insight into SA’s probable Q2 GDP.
We’ll also keep an eye on the European Central Bank’s monetary policy update, and of course any update on the Trade War front. Our Zim friends go to the polls today, in their first election without Uncle Bob; we wish our neighbours free and fair elections.
Latest Rates
USD/ZAR 13.2019
GBP/ZAR 17.3061
EUR/ZAR 15.3847
ZAR/JPY 8.4155
CNY/ZAR 1.9360
AUD/ZAR 9.7646
CHF/ZAR 13.2622
AED/
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It’s still all about the US
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The local unit scored somewhat of a consolation goal on Friday (sorry Argentina fans), as global equities and EM markets ended the week stronger.
Eyes are still on the US though as June Fed minutes and job numbers will be out later this week. The data, coupled with escalating trade tensions between the US and China, could provide more volatility than the Spain vs. Russia penalty shootout.
On local shores, consumers are set to be hit with another sucker punch as the price of petrol is set to increase by 26c/litre. Combine this with higher municipal rates, taxes and electricity tariffs and you’ve got yourself an already overworked wallet. Have a great week and batten down the hatches if you’re in the Cape!
Latest Rates
USD/ZAR 13.83
GBP/ZAR 18.21
EUR/ZAR 16.09
ZAR/JPY 7.99
CNY/ZAR 2.07
AUD/ZAR 10.19
CHF/ZAR 13.95
AED/ZAR 3.76
SGD
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Rand creeps lower vs. EUR, USD and GBP
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While there’s been plenty of World Cup drama this week (mostly focused on VAR controversy) the rand has been having a less exciting few days.
But while ZAR hasn’t experienced a significant shift since the weekend, it has still edged lower against the US dollar, euro and pound.
Today’s high-profile US reports, including the nation’s trade balance and durable goods orders data, could have a modest impact on the rand, with upbeat data potentially undermining the emerging-market currency.
But we’ll also be looking ahead to tomorrow and the first South African data of the week. SA’s producer price index is expected to come in at 0.4% on the month and 4.3% on the year.
Latest Rates
USD/ZAR 13.54
GBP/ZAR 17.93
EUR/ZAR 15.80
ZAR/JPY 8.11
CNY/ZAR 2.05
AUD/ZAR 10.01
CHF/ZAR 13.67
AED/ZAR 3.68
SGD/ZAR 9.94
NOK/ZAR 1.
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#GoToOz? Australia giving special attention to fast-track humanitarian visas for white South African farmers
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Australian Home Affairs minister Peter Dutton says white south african farmers deserves ‘special attention’ due to the ‘horrific circumstances’ they face in South Africa. He told the Daily Telegraph on Wednesday his department was examining a range of methods to fast-track their path to Australia on humanitarian or other visa programs.
South Africa’s new president, Cyril Ramaphosa, is pursuing legal changes to allow appropriation of farm lands without compensation for redistribution to black South Africans.
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What you need to know about Setting-up a business in Ireland
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Ireland promotes business growth and entrepreneurship with three different schemes for setting up your own business within its borders. If it has always been your dream to set up your business, then Ireland might be the place for you. The country is experiencing big economical growth and Ireland’s tax system has very good rates for businesses.
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Notes on Financial emigration: SARS and small expatriate fish
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Emigrating from South Africa is not as simple as packing up your bags, jumping on a plane and setting up shop somewhere else.
Unfortunately, there is still the issue of tax and no matter where you go, the taxman remains interested.
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The Rand stays strong, trades in a tight range
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The Rand has been buoyed by positive sentiment since last week’s Budget speech and rumours of a Cabinet reshuffle on the cards at the ANC National Executive Committee. Further support was expected during and after last night’s reshuffling of Malusi Gigaba and the reappointment of Nhlanhla Nene as Finance Minister.
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