The Dubai Land Department (DLD) launched the unified lease contract for rental properties in Dubai in March this year to create a transparent and professional real estate market with measurable standards. Experts say the new system aims to protect all parties in the lease process and the revisions are seen as an example of best practice.
According to the DLD, brokers legally appointed to manage property of landlords based abroad are no longer allowed to sign unified lease contracts to get an Ejari–the online registration system initiated by the Real Estate Regulatory Agency (RERA) that requires all Dubai rental or lease contracts to be recorded.
The DLD says the property owner must directly sign the original lease contract; even agent who hold a POA to sign a rental contract are no longer allowed to act as proxies. Brokers must now send the unified lease contract via courier to owners who cannot come to Dubai to sign in person. Continue Reading →
Canada is the second largest country in the world by area, but has a population of only 36 million people. With a relatively small (and aging) population, Canada’s need for expats to fill key roles continues to pose challenges, a problem exacerbated by governmental roadblocks to immigration. Companies are required to complete a rigorous process to prove the need for expats to fill positions, with significant penalties leveled against any corporation or company that tries to circumvent these rules.
The CERC (Canadian Employee Relocation Council) continues to be a strong advocate for the Mobility sector in Canada, and is working actively with the Canadian government in trying to streamline the process and removing some of the obstacles present so as to make it easier for companies to attract and bring in foreign workers to Canada.
So what should an expat expect to find in Canada? Read on to find out. Continue Reading →
Singapore has been ranked #1 for both quality of life and happiest country in Asia, and that’s because the economic, political, socio-cultural environments – including healthcare, education, and transportation — are all top notch.
When we ask our service providers to weigh in on the challenges expats face when settling in to life in Singapore, there are very few downsides reported. Basically speaking, according to PERC and the anecdotes we hear from our clients and assignees, it is one of the easiest countries to adjust to when relocating from virtually anywhere in the world.
In this blog, we will address the various components of expat life in Singapore, highlighting the pros and cons.
Mexico is the second largest economy in Latin America, after Brazil. The country has an export-oriented economy with more than 90% of trade under free trade agreements. In recent years, exports of manufactured products have been expanding more than 10% per year, mostly due to the increase in car production.Due to new laws, Mexico has changed its regulations regarding oil and telecommunications, opening the market to foreign investors, with the oil industry growing particularly in the southeast states of Campeche, Veracruz and Tabasco.
Mexico’s housing market and economy are still recovering somewhat from the economic slump, which resulted from the US downturn. However there are many developers building new homes, which keeps prices at a reasonable level, and interest rates are relatively low in the social sectors due to subsidies. Low interest rates, salary and employment growth, longer payment terms and a recovery in consumer confidence are also expected to drive housing demand.
The real estate market is not well regulated in Mexico and properties rent very quickly. Landlords are requesting monthly rent payments in cash as many banks are now required to regulate recurring payments and report to the government for tax purposes. Continue Reading →
Last week, we presented a webinar on Intra-Country Mobility Trends, which focused on domestically mobile workforces outside the US, UK and Canada. Although this talent segment is not often featured in industry surveys and white papers, the high level of interest in this webinar from mobility professionals across the world indicates that it is critical to a growing number of companies.
We were thrilled to tackle this subject with in-country service providers from China and India and corporate professionals from Whirlpool and Bombardier sharing their wisdom, experience and best practice recommendations with our audience.
Here are 5 key takeaways from our speakers:
• When developing a global mobility program, including intra-country mobility, be sure to secure executive sponsorship to ensure consistent roll-out and implementation worldwide. Whirlpool had the sponsorship of the CEO, while Bombardier had the support of the VPs of HR from its Aero and Transport divisions. Continue Reading →
Domestic mobility in countries outside North America and the UK can be challenging for even the most globally-minded multinational companies. I’ll examine this topic in detail during our next educational webinar, on September 17, 2015, at 11:00am ET (4:00pm UK, 8:30pm India, 11:00pm China).
Joining me will be Beverly Sunn of APP Mobility, Anita Krishnaswamy of Global Adjustments, India, and corporate mobility professionals from Whirlpool and Bombardier. Together, we’ll share insight and best practices for developing domestic mobility programs for both expats and country nationals in emerging markets, with special focus on China and India.
Topics covered will include housing, education and family challenges that companies must address to attract and retain the diverse mobile talent they need to grow their businesses.
This webinar is eligible for one (1) CRP credit from Worldwide ERC and one (1) CERP credit from CERC. We hope you can attend!
Please note, this webinar is open only to corporate relocation and HR professionals. A valid email address is required to register.
Please register here.
In my day-to-day work with clients and other multinational companies, I’m often asked how to balance cost savings with the additional administrative burden created by enforcing certain program provisions based on a case-by-case analysis.
Let’s take the application of a housing norm as an example. A housing norm is a differential that is applied when a company provides an allowance for housing in the host country, but also deducts a specific amount deemed to be reasonable and customary expenses of living accommodations. It is assumed that a person has the expense of shelter no matter where they live; hence, the term “norm” is used to describe the deduction taken from the housing allowance.
By the same reasoning, the expenses of the home country housing typically disappear when a person goes on assignment, because he or she will either sell or rent out their home, or the company will assume coverage of mortgage and other home country costs.
But what if an employee is unable to sell or rent his or her home and/or the company doesn’t cover the costs of managing the home country property? When does it make sense to have a housing norm as part of a global assignment policy and when is it simply not worth the administrative effort to implement?
Our annual Weichert Global Representative (WGR) Summit is an important part of our training initiative, bringing together WGRs from across the world to review updated Scorecard standards and education curriculum, share regional news and re-confirm our commitment to delivering legendary service.
As our WGRs provide an extension of our services on the ground in over 185 countries, we want to make sure we continually update them on our business strategies and partnership expectations, while creating a forum for examining ideas for strengthening global synergies.
Our most recent Summit saw a record number of attendees and especially vibrant discussions. Central to this Summit was an interactive panel discussion featuring several WGRs representing very divergent regions, who spoke on current trends and challenges within their areas of expertise. I was proud to serve on this panel alongside the following WGRs:
This is a very timely session, as a highly competitive job market and fast economic growth have combined to create an extremely dynamic and mobile workforce in China. So mobile, in fact, global companies operating in China find it difficult to find and keep top talent. This is true of Chinese nationals and expatriates alike.
To capitalize on market potential across China, global companies will need to have a strong, committed local workforce and invest in development from international sources: global assignees transferring in and out of China, as well as developmental orientation assignments for Chinese nationals in multinational corporations. They will also need to adopt more systematic and practical approaches to align workforce mobility programs with corporate HR and business strategies to deliver measurable results.
An article in today’s Wall Street Journal suggests that while an expatriate assignment is typically viewed as a career-builder among employees, expats relocating from the U.S. to areas such as the euro zone are finding themselves increasingly concerned over currency fluctuations and how they might impact their overall earnings.
Two Weichert Relocation subject matter experts, Matthew Pascual, our SVP of Assignment Management Solutions, and Andreas von Strachwitz, our EMEA-based VP, were interviewed for this article, and their input helps define the four things that an employee embarking on an international should consider to avoid an unwelcome financial surprise.
Here’s a sample of the piece. The full article can be read here.