Foreign Service Specialists provide technical support services for the US Foreign Service, including administration, information technology, security, and medical and health professionals. Their role is to maintain the proper functioning of US government offices at home and abroad. Specialist careers require specific skill sets and professional experience. Foreign Service Specialists are members of the US […]
Foreign investment properties are purchased by individuals and businesses for income generation, but legal complications, taxes, and currency risks must be considered. Each country has its own property laws, and political unrest can lead to changes in government and erode foreign owners’ rights. Hotels, condominiums, and villas are popular types of foreign investment properties. A […]
Foreign body granulomas are masses of cells that form around objects in the body, including tattoo ink, silicone, surgical cotton, and cholesterol crystals. Symptoms include painful lumps and red, infected-looking skin. Treatment depends on location and cause, and can involve corticosteroids or surgical removal. Granulomas can occur at any time and can lead to inflammation […]
Learning a foreign language in high school improves native language proficiency, cognitive skills, and satisfies college entry requirements. It broadens cultural understanding and can benefit careers. Language studies also provide a global perspective and an edge in the job market. Starting early allows for mastery of multiple languages. Some of the benefits of learning a […]
US citizens and resident aliens must pay tax on worldwide income, including income earned while living abroad. The IRS offers two foreign tax exemptions, including the Foreign Earned Income Exclusion, which allows taxpayers to exclude a certain amount of foreign income from taxable income. Taxpayers who qualify for the Foreign Earned Income Exclusion generally qualify […]
Foreign investment can be classified into four types: foreign direct investment (FDI), foreign portfolio investment (FPI), official flows, and commercial loans. FDI involves a company investing in a business in another country, while FPIs are more temporary and involve investment instruments like stocks and bonds. Official flows occur between nations, while commercial loans are typically […]
Passive foreign investment companies (PFICs) are businesses outside the US that attract investment through passive income. US citizens must report income earned from a PFIC for tax purposes, and strict tax laws apply. PFICs must meet certain requirements, and investors must keep accurate records. A passive foreign investment company is one with ownership based outside […]
US citizens must pay taxes on their income worldwide, but can claim a foreign income exclusion of up to $80,000 per year if they are bona fide residents of a foreign country or physically present there while working. The exclusion can be claimed using Form 2555 or 2555-EZ. Where the income is paid from does […]
Becoming a Foreign Service officer in the US Department of State involves taking an exam, an oral assessment, medical and safety checks, and a final review panel. The exam tests knowledge of political science, history, economics, psychology, and world events. The State Department seeks applicants with higher education, professional experience, and fluency in foreign languages, […]
The foreign service is a group of consular and diplomatic personnel representing their nation’s interests abroad. Applicants must pass exams and background checks, and receive government training. Historically, positions were awarded by appointment, but most countries now select candidates based on experience. The foreign service is the collective consular and diplomatic personnel of a nation. […]
Foreign branch banks are opened in one country as a branch of a bank that already exists in another country. They have a larger capital base and are subject to the laws of both the parent and new country. They serve the interests of multinationals and can offer a competitive advantage, but may face regulatory […]
Foreign export is when goods are imported into one country and then exported to another. This can be due to desirable tariffs, exchange rates, or trade laws. The process can benefit all parties involved if carefully planned. A foreign export is any type of good that is originally imported into one country and then exported […]
Assessing foreign investment risk involves examining the issuer’s background, researching past performance, and considering economic and political conditions in the home country. Understanding potential impacts on returns can help determine if the risk is worth it. Foreign investment is often attractive to domestic investors for various reasons. Investments of this type include almost every type […]
“Stranger danger” teaches children to avoid strangers due to potential harm, but has been criticized for creating fear and not always working. Advocates suggest teaching children about dangerous scenarios and empowerment strategies instead. Stranger danger is the general concept taught to many children that strangers are inherently dangerous and should not be approached or talked […]
Learning a foreign language requires time and effort. Tips include practicing reading, writing, listening, and speaking, taking courses, traveling, and interacting with native speakers. Reading and writing help with grammar, vocabulary, and spelling. Listening to native speakers is best for pronunciation. Travel exposes learners to native speakers and culture. Language courses and tapes can also […]
Foreign investment is a powerful force in global economies, with investors seeking lucrative opportunities abroad and governments enacting policies to attract them. The term refers to any investment in which an entity acquires assets outside its home country, and can take the form of real estate or stocks. Governments seek to attract incoming foreign investment, […]
Foreign language requirements are common in schools and workplaces, with varying levels of proficiency needed. Some countries require children to learn multiple languages, and colleges may require coursework. Employers may require language skills for certain positions or prefer candidates with proficiency. Foreign language requirements often exist in both schools and workplaces. Schools may require students […]
Learning a foreign language is important for communication and understanding of different cultures. Many countries have multiple official languages, and there are over 6,000 languages in use worldwide. Learning a language as a child is easier, but adults can use books, audio programs, and intensive courses to become fluent. Multilingual skills can enhance professional standing […]
Foreign currency mortgages allow borrowers to make payments in a currency other than their country’s currency. They can save money through exchange rates and interest rates, but there is also risk involved. Managed currency mortgages can hedge against this risk, but professional help is recommended due to country restrictions. A foreign currency mortgage is a […]
Controlled foreign companies are used by investors to reduce tax burdens in their home country, but are viewed as tax havens and can contribute to tax evasion. Countries have put in place rules to limit deferred taxation and many controlled foreign companies are established in low-tax areas. The US, UK, and Germany have laws regarding […]
