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Are you thinking of taking the plunge and moving abroad but are still a bit uncertain? That’s understandable as moving to a different country, whether it’s for just a short time or for an extended period is not a decision to be made lightly. No matter whether you’re moving abroad to retire, for your career or just for a fresh start it requires a lot of thought and planning.
Before moving abroad it’s important to ask yourself these essential questions to ensure you’re making the right decision.
There are many reasons why people choose to move abroad, you may be wanting to move in order to further your career or financial growth. It could be because you want a better lifestyle for yourself and your family. Whatever your reason for moving abroad it’s going to cost a lot of time and money and so you want to make sure that it’s worth the investment. So, it’s important to ask yourself if your motivations are the right ones.
This is one of the most important factors you need to consider when moving. Just like with purchasing property, location is a major factor when you are planning to move overseas. You need to make sure you research the place thoroughly making sure you have the mindset of a resident and not just a holidaymaker. You need to think about tax, international health insurance, property and banking.
Don’t forget to purchase one way travel insurance when you have secured your travel arrangements.
If you have children, you need to consider how moving abroad might affect them. It can often be hard for young children to adjust to such a change so you need to make sure that they will settle in. It can often help to involve them in the process and talk them through everything making sure you ask for their opinion on it.
The cost of living is a vital factor to consider when you’re thinking of moving abroad. Some places enjoy a much cheaper cost of living but some can be significantly more expensive. It’s important to determine how much daily life will cost to see whether you’ll be able to afford it.
When moving overseas obtaining your visa can often be a long and complicated process. As soon as you’ve decided what country you want to move to find out what is required for you to live and work there and then find out how long it will take to secure your visa and any other documentation you need before you travel.
It’s important to not just look at what you’ll be gaining by moving abroad but also to look at what you’ll be losing/leaving behind. Think about family, friends, jobs, career and weigh up what you’ll be gaining against what you’ll be losing and make sure that what you’re gaining out of moving is greater than what you’ll be losing.
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Expatriate Group & Expatriate Healthcare are trading styles of Strategic Insurance Services Limited who is authorised and regulated by the Financial Conduct Authority (FCA). FCA Firm reference Number is 307133. Strategic Insurance Services Limited is authorised to carry on Regulated Activities in accordance with the permissions granted by the FCA under PART IV of the Financial Services and Markets ACT 2000.