Cartus

Monthly Archives: July 2012

Relocating to Argentina | On the Ground with Cartus

Argentina has a wide-ranging mix of cultures, which is reflected in the European architecture, exciting cuisine and warm people. In a recent Cartus survey, the country was 12th in a ranking of the top emerging market destinations. Employees who relocate to Argentina are often so taken with the country that they decide to stay for extended periods. Still, relocating to Argentina requires special requirements and understanding for making a smooth transition.

As part of the Cartus On the Ground series, our Argentina video highlights need-to-know information for companies with assignees relocating to this South American country, pointing to the unique nuances, challenges, and opportunities in Argentina, including:

1) Securing a house or apartment
2) Locating schools for children
3) Moving with pets
4) Traveling to and from the country
5) Exploring Argentina’s many recreational options
6) Understanding basic social norms and economic principles

The Argentina MarketWatch provides additional details. You can learn about managing moves to other developing countries by visiting the Cartus Emerging Markets microsite.

Email this contributor at nancy.donne@cartus.com.

Keeping the Lid On: Canada Tightens Mortgage Regulations

Keeping the Lid On: Canada Tightens Mortgage Regulations

Canada’s federal government announced a further tightening of Canadian mortgage regulations effective July 9 in an effort to strengthen Canada’s housing market. The announcement by Finance Minister Jim Flaherty stated that the new regulations were introduced “to keep the housing market strong, and help to ensure households do not become overextended.”

Two key changes to Canadian mortgage regulations include:

1) The maximum amortization period is reduced to 25 years from 30 years.

2) The maximum amount of equity homeowners can take out of their homes in a refinancing is reduced to 80% from 85%.

These new Canadian mortgage regulations echo earlier reductions of amortization period and lowered refinancing maximums that came into effect last year.   

Although the changes have been endorsed in the media by Canada’s big banks, including TD and Bank of Montreal, the Canadian Real Estate Association (CREA) urges the government to carefully consider the impact of further interventions in the market. It’s well known that housing is a key driver of the economy. According to CREA, resale housing will add an estimated $20 billion in spin-off spending and more than 165,000 jobs to the Canadian economy in 2012. CREA also cautions the government to closely monitor the impact of these measures to ensure they have the desired effect without slowing the economy.   (more…)

Cartus Wins Leading HR Practices Award | Singapore HR Awards

Cartus Wins Leading HR Practices Award | Singapore HR Awards

Cartus is proud to be one of the recipients of the Leading HR Practices in Learning and Human Capital Development Award at the 2012 Singapore HR Awards, conferred by the Singapore Human Resources Institute (SHRI).

Organized annually, The Singapore HR Awards, an SHRI signature event, celebrates organizational and individual successes in the HR arena in Singapore.

This award is yet another testament to Cartus’ dedication to people development. We take pride in providing good organizational learning and best practice training that allows our employees to learn, share, and acquire knowledge.

I would like to express my sincere thanks to the Global Learning and Development and HR teams. Their commitment is instrumental in developing behaviors and competencies that lead to best-in-class performances and excellent service results, sustaining the business success of our company.

Email this contributor at kenneth.kwek@cartus.com.

Seated from l to r: Renauld Chiam and Debbie Lo. Standing from I to r: Kenneth Kwek, Agnes Woo, Sheila Eber, and Priscilla Seow. Absent from photo: Ana Ballesteros.

Homebuyer Tax Credits | Issues in U.S. Home Sale by Cartus Consulting

Homebuyer Tax Credits | Issues in U.S. Home Sale by Cartus Consulting

Cartus Consulting guides organizations of all sizes to the best solutions in global mobility and mobile workforce development. In this four-part series, Cartus Consulting Services looks at the top issues in U.S. home sale.

Should a company honor a relocating employee’s request to be reimbursed for the homebuyer tax credit?

The quick answer is no. It’s not recommended that a company reimburse the homebuyer tax credit. Transferees who received the homebuyer tax credit when they purchased their home often request reimbursement when notified about relocation.  The current housing market works to the employee’s and company’s advantage because generally, if there is no gain on sale, the repayment of the tax credit is not due. (more…)

Relocating to Vietnam | On the Ground with Cartus

Vietnam is a colorful and vibrant country that, though relatively small, boasts more than 50 separate ethnic groups with a variety of languages and religions that reflect Vietnam’s rich cultural and political history. With an increase in foreign investment, Vietnam has become a popular destination for relocation and expatriate assignments. The country was listed among the top 12 emerging markets in a recent Cartus survey on Emerging Markets.

As part of Cartus’ On the Ground series, Donn Garton and Laurent Quistrebert of Resident Vietnam discuss a number of issues that are important for your Vietnam-bound employees. Issues to consider when relocating to Vietnam include the housing market, which reflects an expanding number of options and choices, issues with schooling availability, and the value that basic language skills can lend to business and lifestyle success.

In addition to our On the Ground series, you can find information on a number of emerging market locations on the Cartus Emerging Markets microsite.

For more specific information on Vietnam, please feel free to contact me at ashley.barry@cartus.com

Cartus.com | Terms of Use | Privacy Policy | © 2013 Cartus.