Five smart planning tips when relocating overseas
November 23, 2015
When considering a move its easy to get side-tracked in a whirlwind of excitement and emotion, so it’s essential that you take some time to cover the practical aspects. Careful planning will not only keep you on track but it will also help you to get the most out of your move.
Moving to a new country while you have financial ties to another can be a tax headache and punitive if you end up paying tax twice by mistake. Before you leave, seek out a tax consultant so that your move is trouble-free.
Look after your assets
Although you may be moving overseas, many people find that maintaining a home can offer peace of mind and can be a lucrative investment in the long-run. Also, take the time to research how your pension contributions will be affected – you’ll need to establish if your host country has an agreement with home country.
Understand customs’ rules
Each country has its own customs rules which can be difficult to keep track of and the most minor oversight can hamper a smooth move. For example, did you know that importing foodstuffs – even canned goods - is banned in almost all countries?
Check out “the next big thing”
In most big cities there are up-and-coming neighborhoods, which can offer lower property prices. Your relocations provider may be able to put you in touch with expat customers who can give you the inside information.
Being flexible with the date of your move can be financially beneficial - research the periods that are better seasonal markets for finding housing, for example, the end of the school year. You could also save money by sharing a shipping container.