Moving Abroad

Why Move Abroad?

More people are now choosing to move independently to another country, for employment or retirement purposes, or simply to experience a different environment and way of life. The decision to move to a different country may also be based on better quality of life, warmer climate, lower cost of living, more rewarding employment etc.

Plan Ahead

It is highly advisable to take your time to research all the aspects of living overseas. Weigh both the positive and negative aspects carefully before making a decision. Thus, at this point, research and planning are crucial both before and after arriving at the desired destination.

Immigration – laws and Regulations

Immigration regulations vary enormously between countries, therefore, it is absolutely essential to obtain substantial information about the country that you are planning to move to.

Find out well in advance what type of visas and other permits, if any, are required for yourself and your family members. It is important to be well-educated about the procedures and timescales for obtaining such permits.

Moreover, ensure that you use a reliable source of information to check the up-to date visa and residency requirement changes for your chosen destination. Many countries now have an official website for the country’s immigration department, often part of the Home Affairs Ministry or Ministry of Justice.

Also, make sure that your passport has at least six months validity remaining, otherwise you may be refused entry to the new country.

Getting There

Once the decision to go has been reached, decide whether it makes sense to book your travel tickets as soon as possible in order to get the best deal. Otherwise, you may wait to give yourself more flexibility, and take advantage of any last minute offers.

It would be advisable to ask for recommendations from expats who are already living in the destination country, who are often travelling back and forth to their country of origin, and are familiar with the best deals.


We understand how important the well-being of your family is to you, therefore we would highly recommend a thorough search on the standard and type of healthcare available in your chosen destination, especially if you or a member of your family suffers from a medical condition which requires ongoing treatment or medication.

Advanced treatments and procedures might not be available in some less-developed locations. If this is the case, consider whether local healthcare insurance might be the right option to secure your family’s healthcare.

In many countries you will have to pay for medical care, although emergency treatment in public hospitals may be free of charge.

Financial Planning – Banking

Expats have a number of banking options available to them, from opening a local or offshore bank account, to simply maintaining an existing bank account in their country of origin.

When intending to open a local bank account, it is always wise to consider your future requirements in advance and plan accordingly in order to save not only time and effort, but in many cases money too.

It would also be advisable to inform your existing bank and credit card companies that you are moving overseas, in order to find out whether they would allow you to have an overseas address for your account, and are prepared to send your statements to your new location.

Should you decide to close your existing account, remember to inform the third parties regarding any pending standing order or direct debit arrangements.

If you decide to keep an account with a bank in your home country, consider using one which offers internet banking facilities to make it easier to manage your current accounts from abroad.

It is worth considering the currency you may be paid in. A lot of countries currencies are less flexible and difficult to transfer abroad. For this reason, requesting to be paid in a stronger, globally exchangeable currency is recommended. The same too refers to the account you may set up in your new destination.

Once you become a non-tax citizen of your home country there are many benefits to the types of accounts you can open in the offshore regions. It may be worth looking into these options whilst you are abroad and make the most of your expatriate status.


When moving abroad it is important to ensure that your loved ones will be protected in the event of your death. Making a will is the best way to guarantee a fair distribution of your assets following your demise.

It is important to note that if you already have an existing will in your country of origin, it may not be valid in your new country and thus, a new document may be necessary. It would be highly advisable to consult a local solicitor upon your arrival, in order to clarify the legal requirements.

Moreover, you may acquire additional assets in the new country which would also need to be protected and distributed according to your wishes upon your demise.

If you do not make a will and you have assets in your home country, then the laws of the new country will apply to the distribution. Some countries will automatically pass these assets on to the spouse or dependent children, others may allow all relatives to make a claim to the estate and divide it accordingly. It is for this reason that drafting a will is of paramount importance.


Most of us dream of retiring abroad, however unless a pension is carefully planned out, such a prospect will be difficult to achieve.

Planning for a retirement income involves taking a number of things into consideration, including the income tax-rate of your chosen country, which could potentially heavily impact the amount of income you require to maintain your desired standard of living.

During retirement planning you may also need to take into account your property situation:, will you already own a home in the country you want to move to when you retire, or will you need to use a lump sum to fund a purchase?

Undoubtedly, most financial advisors would recommend that the sooner you plan for your retirement, the easier it will be, and the more funds you will have at your disposal. Planning your retirement when you reach the age of 45 is unlikely to be practical if you would like to retire in peace of mind.

The earlier you start saving should ensure that you have a more substantial fund to sustain your retirement wishes.

If you already have existing Pensions, it may be worth looking into them once you are in your new location. There are a world of more flexible options available to you once you become a non-tax citizen of your home country, that helps you take charge of your own future.

Financial Stability

It may at times be difficult to secure financial stability especially when you are new to the country.

It is a full-time job selecting the most suitable financial services and funds -; that is where a diligent and thorough research team comes to the fore. Your adviser can help you navigate the financial world to find the vehicle that will help you reach your intended destination.

Our consultants work with some of the leading investment houses and insurance providers.

All our employees have been trained to provide the best advice and are familiar with the local knowledge and requirements of the region you live in/may relocate to.

We can advise on the different options that may help you maximise your wealth in order for you to look forward to a more secure financial future.

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