Online version: http://www.lowtax.net/newsletter/ltx_focus_february09.asp

Dear Colleague,

In this month's LTX focus we take a fresh look at Beign An Expat In 2009 - A Financial Primer.

To believe the surveys, half the world is either already an expat, or planning to become one. Tens of millions of people work abroad, or have retired there, or have property in a foreign country.

Once upon a time, perhaps in the days of the British Raj, expatriates had a financially golden life style in recompense for the perceived horrors of a foreign posting involving endless travel, unpleasant insects and unpronounceable but deadly diseases. Once you had shaken the dust of London or Paris or Philadelphia from your feet, you could forget all about tax inspectors and set about hiring an extensive staff of punkah-wallahs and major-domos to run your immense colonial villa while you drank gin and tonic on the verandah (against malaria, of course).

After your 30 years in the sunshine, with wrinkled skin and full pockets, you could retire to a small country house in the Home Counties, New England or Normandy, to swap travellers' tales with your neighbours.

The reality nowadays is both more mundane and more challenging. Over-crowded airports, intrusive tax inspectors, the Internet and hyper-active investment advisers are just some of the features that are combining to form a new and very different landscape for expats.

But at least today's expat is not short of advice from the banks which offer international financial services.

HSBC Bank International has now completed an ambitious project to conduct the largest ever survey of expats. The bank says that its report, the third and final study in its 'Expat Explorer' survey, is the largest ever independent survey of expatriates, questioning 2,155 expats across four continents. The report examines the integration challenges faced by expats relocating to a new country by looking at the cultural and social differences experienced. The report shows that Germany, Canada and Spain are perceived to be the easiest countries to settle in.

Martin Spurling, Chief Executive Officer for HSBC Bank International and Head of HSBC Global Offshore, said: “We commissioned this independent survey to take a look into the lives and experiences of our customers who live across the globe and the transitional challenges they encounter from country to country.”

He added: “This final report in our Expat Explorer series focuses on something that is incredibly important to all expats – their ability to fit in to their new home. This is often the aspect that is most daunting, with many concerned about whether or not they will be able to make friends or feel like they belong in their adopted country. Through this survey we have been provided with a fascinating insight into our customers’ lives which will help us also to best adapt to their offshore finance needs.”

You can read the rest of the feature here: http://www.investorsoffshore.com/html/specials/special_expat_2009.html

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Kind regards,

Kate James