Asia Pac Real Estate Services (Apres) Joins Expatland’s Singapore E-Team

 

Leading real estate services agency APRES has joined Expatland’s Global Network.

The firm will provide real estate solutions to the Singapore E-Team’s clients. APRES offers a variety of services in the residential sector that cater to every individual or corporation’s needs.

In the past eight years, APRES has provided real estate solutions to a variety of multinational corporates and their expatriate employees. As a result, the company has evolved to become one of the preferred real estate agencies for the corporate relocation of expatriate employees.

The Expatland Global Network is made up of Expatland Teams (‘E -Teams).

Operating at a city level, they have essential local knowledge and insight. They cut through complexity and drill down to the issues that are relevant to specific locations.

John Marcarian, the founder of the Expatland Global Network, says, “APRES performs a vital role in finding homes and settling expats into Singapore.

The agency is highly regarding in the real estate sector and among Singapore’s multi-national corporations. We look forward to welcoming APRES to the fast-growing Singapore E-Team.”

Cindy Sin, Founder, APRES, comments, “We share a very similar philosophy to the Expatland Global Network, believing every expat’s needs and requirements are unique.

At APRES we are ready to provide real estate solutions whether it is leasing or purchasing, specifically tailored to that individual. We offer continuous support to our expat clients throughout their entire stay in Singapore. Therefore accessing the services of other E-Team members will be hugely beneficial to help cater to our client’s needs.”

Boon Tan, E-Team City Leader for Singapore, says, “APRES are a strong team of dedicated real estate professionals. I have no hesitation in recommending the agency to the wider Expatland Global Network and know they will be a very welcome addition.”

‘Expatland’ origins

Expatland began as a book, written in 2015 by John Marcarian, as a result of John’s personal expat journey. Its focus was to help expats plan their move overseas.

E-Teams around the globe

The Expatland book was just the start. To solve the problem of lack of support for would-be expats, John has launched the Expatland Global Network in 2018.

The Network is expanding rapidly. There are now E-Teams in Sydney, Melbourne, LA, Auckland, London and Singapore. With best-in-practice members recognizing the importance of this service, many more will follow.

Businesses interested in joining an E-Team in their city can get in touch with Expatland: http://www.expatland.com/contact/

Migration Agency Aims Joins Expatland’s Singapore E-Team

 

Leading immigration and relocation agency AIMS Immigration & Relocation Specialist has joined Expatland’s Global Network. The firm will provide Visa and Education services to the Singapore E-Team’s clients.

AIMS is dedicated to supporting individuals and companies for all their immigration and relocation needs. Incorporated in Singapore in November 2006, AIMS has since expanded its footprint with 14 offices situated across Asia Pacific.

AIMS offers an entire suite of services from consultations on skilled migration, business and investment migration, passport programs, student services and relocation services.

The Expatland Global Network is made up of Expatland Teams (‘E -Teams). Operating at a city level, they have essential local knowledge and insight. They cut through complexity and drill down to the issues that are relevant to specific locations.

John Marcarian, founder of the Expatland Global Network, says, “AIMS is an ideal E-Team member.

They are expat specialists with 12 years of experience and understand the needs of people moving to Singapore. The Expatland Global Network is growing quickly across the world and the expert local knowledge of our E-Team members is highly valued by expats on the move.”

Pearce Cheng, CEO of AIMS Group, comments, “Assisting individuals and families to attain their migration and relocation dreams have been AIMS’ expertise for 12 years.

Working together with Expatland is a natural and perfect fit for us, we look forward to providing personalised visa and education solutions for each individual and family.

“Visa policies change frequently and can be confusing especially to expats who are unfamiliar to Singapore.  In addition, ensuring that children are placed in a nurturing and fulfilling school environment is of vital importance, especially when they are uprooted to a new country.

Our extensive local experience ensures that we will be of invaluable assistance to the ever growing numbers of expats heading to Singapore and the Asia-Pacific region.”

Boon Tan, E-Team City Leader for Singapore, says, “Having worked with AIMS on a number of times in the past, I know that expats coming to Singapore will receive a great customer experience and be guided by a team of experts in this field.”

‘Expatland’ origins

Expatland began as a book, written in 2015 by John Marcarian, as a result of John’s personal expat journey. Its focus was to help expats plan their move overseas.

E-Teams around the globe

The Expatland book was just the start. To solve the problem of lack of support for would-be expats, John has launched the Expatland Global Network in 2018.

The Network is expanding rapidly. There are now E-Teams in Sydney, Melbourne, LA, Auckland, London and Singapore.

With best-in-practice members recognising the importance of this service, many more will follow.

Businesses interested in joining an E-Team in their city can get in touch with Expatland: http://www.expatland.com/contact/

How Much Do I Need to Buy a Property in Singapore?

 

So you’ve settled in Singapore and decided it’s time to buy a home rather than rent.  With a reputation of having some of the most expensive real estate in the world, how much do you need to have saved before this is even possible?

To work this out, lets take a look at a hypothetical scenario of two British Expats purchasing a condo for $1.5m in Katong on the east coast.

INITIAL DEPOSIT:

Under the most recently revised Monetary Authority of Singapore (MAS) regulations, for your first property purchase as a foreigner you should be able to borrow up to 75% of the proposed property purchase price.

On our scenario of $1.5m above, you will need to have 25% as an initial deposit which would come to $325,000.

STAMP DUTY:

As a foreigner, you are subject to two levels of Stamp Duty.

The first is called Buyers Stamp Duty (BSD) and is paid by all purchasers of property in Singapore.

The amount charged is progressive and the rates as of Feb 2018 are:

  • 1% on the first $180,000
  • 2% on the next $180,000
  • 3% on the next $640,000
  • 4% on the remaining amount

The second, and most significant, cost for foreigners purchasing property is the Additional Buyer Stamp Duty (ABSD).

This rate is a flat 20% against the whole purchase price of the property and can be the biggest inhibitor to purchase property in Singapore.

PLEASE NOTE:  Expats from the United States, Switzerland, Liechtenstein, Norway and Iceland are exempt from the 20% additional stamp duty charge due to the Free Trade Agreements Singapore has with these countries.

So for our British expats looking to buy, their stamp duty costs would come to:

BSD –    $44,600

ABSD –  $300,000

Total –  $344,600

So the total up-front cash our couple would need to purchase their $1.5m condo would come to $669,600.

This can be a significant amount of money for any couple. Depending on your long-term plans and personal situation though, buying can still make sense as the Singapore property has a long-term history of strong returns.

Also, if you apply and are successful in obtaining Singapore Permanent Resident Status (PR), this can bring the ABSD rate down to 5%.

If you’d like to review your borrowing options and see what is possible, don’t hesitate to get in contact with us through www.aexphl.com

Article by:

Tim Raes, Founder and Managing Director

Aussie Expat Home Loans – Singapore

 

*  This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is suitable for you and your personal circumstances.   Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statements and seek personalised advice

Surcharge Purchaser Duty for Foreigners in NSW

 

The 2016 NSW Budget introduced a four per cent surcharge purchaser duty (surcharge) on the purchase of residential real estate by foreign persons from 21 June 2016. Further to this, the 2017 NSW Budget, increased the surcharge rate from four per cent to eight per cent for agreements entered into on or after 1 July 2017.

The surcharge is in addition to the duty payable on the purchase of residential property. The surcharge does not apply to Permanent visa holders, New Zealand citizens who hold a special category visa (subclass 444) or Partner (provisional) visa holders (subclass 309 or 820).

However, it does apply to persons who are, the three types of individuals listed above, who do not meet the 200 day rule (200 days or more in Australia immediately prior to the contract date) or temporary visa holders, who are persons who hold Australian temporary visas which are subject to limitation, such as an end date, and are considered to be foreign persons, regardless of whether they meet the 200 day rule. Unfortunately, this cannot be overcome by the incorporation of a company or establishment of a trust.

A corporation and a trustee of a trust can be a foreign person in the following circumstances:

  • a corporation in which is an individual not ordinarily resident in Australia; or
  • a foreign corporation or a foreign government holds a substantial interest; or
  • a corporation in which two or more persons, each of whom is an individual not ordinarily resident in Australia, a foreign corporation or a foreign government, hold an aggregate substantial interest; or
  • the trustee of a trust in which an individual not ordinarily resident in Australia, a foreign corporation or a foreign government holds a substantial interest; or the trustee of a trust in which two or more persons, each of whom is an individual not ordinarily resident in Australia, a foreign corporation or a foreign government, hold an aggregate substantial interest; or
  • a foreign government; or
  • a general partner of a limited partnership where:
  • an individual not ordinarily resident in Australia, a foreign corporation or a foreign government holds at least 20 per cent in the limited partnership, or
  • two or more persons each of whom is an individual not ordinarily resident in Australia, a foreign corporation or a foreign government, hold an aggregate interest of at least 40 per cent in the limited partnership.

Should you be considering purchasing property in NSW and are unsure if the Surcharge Purchaser Duty applies to you, feel free to call Nicole on 9328 6917 for a consultation.

Article by: Nicole Leggat

Wealth Management Specialist St. James’s Place Joins Expatland’s Singapore E-Team

Wealth management specialist St. James’s Place has joined Expatland’s Global Network.

The firm will provide wealth management advice to the Singapore E-Team’s clients.

St. James’s Place is a leading wealth management firm specialising in delivering face-to-face wealth management advice for individuals, companies and trustees.

Founded in 1991, St. James’s Place was listed on the London Stock Exchange in 1997 and is now a FTSE 100 company with over £100.6 billion of client funds under management.

The Expatland Global Network is made up of Expatland Teams (‘E -Teams). Operating at a city level, they have essential local knowledge and insight. They cut through complexity and drill down to the issues that are relevant to specific locations.

John Marcarian, founder of the Expatland Global Network, says; “Whether an expatriate is relocating to Singapore or repatriating, St James’s Place delivers comprehensive and specialist planning with expert wealth management advice.

We are delighted to have St James’s Place onboard the Expatland Global Network.”

Boon Tan, Singapore’s E-Team leader, comments; “St James’s Place put their clients at the centre of everything they do and their values align perfectly with Expatland’s passion to make life easier for people on the move.”

St James’s Place, comments, “Being part of the Expatland Global Network allows us to contribute to supporting expats who are navigating challenges on their own. We are excited to be part of the Singapore E-Team and we are committed to helping expatriates manage their wealth in a way that reflects their personal circumstances.”

‘Expatland’ origins

Expatland began as a book, written in 2015 by John Marcarian, as a result of John’s personal expat journey. Its focus was to help expats plan their move overseas.

E-Teams around the globe

The Expatland book was just the start. To solve the problem of lack of support for would-be expats, John has launched the Expatland Global Network in 2018.

The Network is expanding rapidly. There are now E-Teams in Sydney, Melbourne, LA, Auckland, London and Singapore. With best-in-practice members recognising the importance of this service, many more will follow.

Businesses interested in joining an E-Team in their city can get in touch with Expatland: http://www.expatland.com/contact/

About Expatlandhttp://www.expatland.com

The Expatland Global Network is a resource that supports people all over the globe who are embarking on an expat journey, joining a vast, dynamic community.

Foreign Exchange in Expatland – What You Should Know

 

Whether you’ve just started your new life in Expatland or are looking to move back to your country of origin, the need will undoubtedly arise to exchange foreign currency.

Your personal circumstances will determine why you need to exchange currency, the frequency by which you transact and the volume. A currency need will typically arise from:

  • Transferring life savings
  • Selling and/or buying a property in your country of origin and/or Expatland
  • Pensions transfers
  • Repatriating income
  • Investing in assets domiciled in Expatland
  • Sending money home to friends and/or family

So what should you be aware of when converting your currency and sending or receiving cross-border payments?

  1. Are you really getting the best rate?

You trust your bank with your day-to-day banking needs so surely they must be the best option for your foreign currency and international payments needs? The reality is however, that for retail clients the daily buy/sell rates set by the banks often include a cost to transact plus additional sending and receiving fees.

By doing your research and venturing beyond the banking relationship to an alternative foreign exchange provider like XE Money Transfer, you’ll find that you will be able to take advantage of a much higher rate of exchange and no transfer fees – saving you thousands of dollars on your international money transfers.

  1. Protect yourself from currency risk on high value transactions

When making high value transactions that occur over a longer period of time, you may want to mitigate currency risk by locking in a favourable rate of exchange.

Currency risk refers to the uncertainties faced by fluctuating exchange rates and can have a significant effect on the outcome you achieve when it comes to executing your currency conversion.

Contrary to what you may think, you are not restricted to simply accepting the spot rate you are given on the day.

At XE, we provide a range of risk management transactions from Market Orders to Forward Exchange Contracts (FECs) and more complex structure options and our team will be able to advise you on the right strategy to ensure you are getting the best rate of exchange and are not left at the mercy of exchange rate movements.

Handy Hints for Moving

 

Relocating to a new city or destination is an exciting yet daunting time for the individual, couple or family.

The best piece of advice you’ll hear, is to plan for your move well in advance. It will help to reduce the stress which can be overwhelming at times, especially if its your first venture into Expatland.

Tips on What to Do Before You Move

Declutter. It’s not only cathartic to do a clear out before the move but also makes perfect sense. It’s much more difficult and stressful to try and declutter when the packers are there. The packers can’t make those decisions for you, “Should that stay or should it go”?

Organise rubbish collection, garage sales and donations to thrift / charity shops in plenty of time before packing day. You’ll feel better for it and you’re not paying for transporting ‘stuff’ that you may very well throw out when you move into your new home.

Accept help when it’s offered from friends and family. Put your super cape away! It’s o.k. They want to help! Whether for child-minding duties, replenishing the mugs of tea or coffee or cooked meals, it all helps in reducing the stress. Especially on packing day.

If moving with children, get some small packing boxes in advance from the moving company. Let them draw on them, colour them in, write their names on them. They can pack those precious soft toys in preparation for the move. Imagine their excited faces when they recognize their own boxes arriving safe and sound at your new home.

Decide in advance what you will need to:

a) Take on the flight. Those items you’ll need immediately on arrival.

b) What might need to be sent airfreight (that can be expensive) but you can get access to it earlier than if it’s shipped seafreight.

c) Then what needs to go into storage at your destination until you find your new home.

Most important of all, choose an experienced, industry approved relocation company.

When the Relocation consultant has expat experience themselves, they understand and appreciate the stress and pressure that comes with the move. Remember they are your first port of call on this amazing journey, so you want to feel confident and happy with the service they offer.

Get that right at the start and they will assist and support you, listen to your concerns and advise you, as you embark on this exciting journey.

Written by:  Nuss Relocations

Importance of Corporate Travel Insurance

 

It is highly recommended that any Expat whose business involves overseas travel, should effect a Corporate Travel Insurance Policy.

A Corporate Travel Policy will provide coverage for overseas trips up to a duration of 26 weeks.

The scope of cover provided under this type of policy include Medical Expenses, Death & Capital Benefits, Loss or damage to Baggage, Electronic Equipment, Loss of Credit Cards, Theft of Money, Hire Car Excess Expenses, Loss of Deposits and Cancellation Charges, Kidnap, Extortion and Ransom.

Below are actual case studies of recent Medical Expenses Travel Insurance losses incurred whilst claimants were overseas. This reinforces the absolute necessity to protect yourself and your business from these exposures whilst undertaking business and associated leisure travel.

David (an Australian Resident) was insured under a Corporate Travel Insurance Policy while he was on a short-term working assignment in the Solomon Islands.  On 12/09/2017 he started feeling unwell with abdominal pain and presented himself to a local clinic.

Provisional diagnosis was infectious Gastroenteritis, acute abdominal rupture and appendicitis. There were no clinics available for the claimant to undergo diagnostic imaging and hence he was placed in an air ambulance and evacuated back to Australia.  The total amount of the claim was $57,527.37.

Edward attended an international business conference in the Philippines.  At the conclusion of the conference he stayed on for an additional week’s holiday.

During that holiday he was struck by a motorcycle and sustained multiple soft tissue and musculoskeletal injuries including left clavicle fracture, multiple fractures to left and right ribs, crush fracture of the 12th thoracic vertebrae and right shoulder ligament ruptures.  The total amount of the claim was $23,428.57.

Gerard, a 73-year-old director of an IT company, planned a 6-week overseas trip with his wife, to the USA commencing June 2017.  Unbeknown to him, at the time of embarking on the journey, he was developing what would become a significant cardiac infection – “bacterial endocarditis”.

By the time he landed in the USA his cardiac symptoms fully manifested resulting in cardiac infection, multiple body organ sepsis and several strokes secondary to the above.

Gerard was admitted to high dependency specialist care.  The claimant’s wife and Insurers were advised that Gerard most likely would not survive.  Gerard was transferred to palliative care where he eventually passed away some two months later.  The total amount of the claim was $1,300,000.

Although this case had a sad outcome, it highlights the importance of having travel insurance to protect against what can be substantial and significant costs.

By: Michael McMahon
Gibson Insurance Brokers

The Business Advisory Group Named as Top 30 Accounting Firm in New Zealand

 

Auckland E-Team member, The Business Advisory Group, has been named as one of the top 30 accounting firms in New Zealand by the Sunday Star Times for the second year running.

The ranking originates from a survey of accountancy firms carried out by Chartered Accountants Australia & New Zealand (CAANZ) in partnership with Fairfax media.

The firms listed in the Top 30 are measured on three core areas – adaptability/agility, emotional intelligence and critical thinking.

CAANZ launched the Top 30 list in 2017 to highlight the expertise in the accountancy sector.

Peter Vial, the New Zealand country head of CAANZ, said the accountancy profession was changing in the face of digital disruption.

“Accountants are moving away from just doing the numbers,” Vial said. “Yes, people will see their accountants about those things. But they will also be seeking strategic planning advice, valuation advice. It’s an ongoing relationship.”

Read more here: Accountants need high ’emotional intelligence’, survey finds

John Marcarian and Expatland Featured in Forbes

 

According to Forbes; Singapore Is An Expanding Tech Hub For Expats Who Could Make It Anywhere.

This is the title of an article written by respected journalist and former expat Monty Munford. The piece was published in Forbes, which has a global 6.7 million readership and attracts 71.1 million monthly unique website visitors.

It details the rapid rise of Singapore as a global technology hub, quoting respected tech commentator Rod Lappin SVP at Lenovo.

The article goes on to highlight the importance of expats to Singapore’s growing technology scene and wider growth.

Expatland’s founder, John Marcarian, an Australian expat living and working in Singapore is quoted on the issues expats face when moving to a new country.

Munford explains the Expatland Global network’s proposition and the importance of local teams of vetted expat service professionals provided by Expatland’s city-based E-Teams.

Read the piece in full here: https://bit.ly/2FbwKUN