British expatriates should manage their money like the locals
20/07/09 14:55
Brits hoping to make the most of their expatriate lifestyles should take a few tips from the locals when it comes to organising their finances.
By planning the same way residents do they will be able to avoid surprises, Rupert Holderness, managing director of Siddalls France, told the Observer.
The paper has prepared ten tips for people considering moving to an expatriate life.
They include watching out for unexpected taxes and lost perks, carefully reviewing home buying costs and international health insurance and planning how best to deal with inheritance tax.
Expatriates should also not expect to always have internet access, be prepared for price fluctuations and they should budget so relatives can visit.
One further difference relates to the used car market. Mike Hardaker, co-founder of expat website AngloInfo, told the newspaper that the UK's second-hand car market tends to be cheap, partly due to the flood of vehicles from the fleet sector. This may not be the case abroad.
However, it is unlikely their cautionary note will put many Brits off - in 2005 there were already 33,000 Britons living just in Italy, according to the Office for National Statistics.
Mark Pawlak
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