👋 Hey expats, this is Dexter. Welcome to a new edition of Money Abroad, my weekly newsletter. Each week, I dive below the surface to bring you fresh tips on building wealth while living abroad. Send me your questions and in return, I’ll do my best to offer actionable, no-BS tips.

First off, a cause for celebration during this Lunar New Year… Money Abroad crossed 500 subscribers! 🧧🥳

Thanks for your support and insightful chats - keep on sharing this newsletter with your expat friends. Now let's get to the main attraction:

Today, we’re going to talk about the dark underbelly of expat money.

Blunders that range anywhere from costing you headaches and weeks of your time to potentially losing hundreds of thousands of dollars. You heard me right. Brace yourself for cringe stories up ahead.

Let’s roll!

💣 Four Expensive Mistakes Made by Expats

All numbers below are in USD

1. Getting caught working without a work visa

Cost: Up to $15k + up to 2 years prison (Singapore)

🎥 No work permit penalty. Last year, a Briton freelancer producer in Singapore got caught working for Thomson Reuters SG without a valid work pass and was fined $6,500 SGD. For each count of working in Singapore without a work pass, the penalty is up to $20k (or ~$15k USD) and jail for up to two years.

🏝️ Remote work applies. Let’s be real: Remote work typically breaks local employment laws unless if the worker has a work permit. However, unless if you’re broadcasting publicly about how you’re working remotely in country X, it’s hard for anyone to tell.

How to avoid this mistake:

• Get a work permit if you’re working for a local employer: Pretty simple. Just do it.

• Keep low-key regarding remote work: Avoid police busting through your door like they did with these Chang Mai digital nomads.