Preparing for an international move
November 1, 2015
Here are a few of the most important things to consider before moving abroad.
It’s important to check what health services are available to you in the new country. In most cases you’ll have to register with the relevant authorities. Once you are registered to work and make National Insurance contributions, you’ll be entitled to state-run healthcare.
When buying a new home overseas, 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.
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.
Look in to the living costs before deciding which country to settle in. Although property prices overseas can be cheaper than in The Netherlands, day-to-day living may be the same or more expensive. Check out the cost of food and petrol.
Living in tourist areas will be more expensive than less popular areas – and don’t assume the exchange rate will stay the same.
Keeping in contact
If you wish to travel back to the Netherlands occasionally and would like family and friends to visit you, look at the cost of flights and consider how close you are to an airport.
If you are putting most of your savings into a property abroad, check the inheritance laws. Consult an international solicitor to make sure you can leave your assets to your family as you wish.