Top Tips for preparing an international move from Russia
December 2, 2015
Cost of living
Look in to the living costs before deciding which country to settle in. Although property prices overseas can be cheaper than in Russia, day-to-day living may be the same or more expensive. Check also the cost of food, properties and petrol. This research will help you also to negotiate your salary in case you move for a new job opportunity.
Buying a house
When buying a new property in your new location, the cost of tax and legal fees can often add 6-10 per cent to the purchase price. There are also ongoing taxes which vary depending on the region. It’s a good idea to research the rates that apply in your new destination before buying.
It’s important to check what health services are available in the new country for you and your family. In most countries you’ll have to register with the national authorities to have access to the health services. Once you are registered to work and make National Insurance contributions, you’ll be entitled to state-run healthcare insurance.
Staying in contact
If you wish to travel back to Russia occasionally and would like family and friends to visit you, look at the cost of flights in advance to save money. It might worth also consider how close you are to an airport in terms of time and money.
Not only will you need to change a lump sum into your new local currency, but you may need to transfer money regularly between the two countries, perhaps for education fees or a pension. Foreign currency brokers charge lower fees and offer better exchange rates than using your local bank.
Check the inheritance rules before putting most of your savings into a property abroad. Consult an international solicitor to make sure you can leave your assets to your family as you wish.