Moving from country to country is both time consuming and expensive. It is worth planning ahead to reduce your stress levels and costs for various services from financial advice to shipping your possessions.
This can be as simple as finishing your rental contract and getting a new one once you move to your new country. For many of you it will be a lot more complex, involving selling the family home and relocating both your family and their belongings. It is worth discussing your options with your financial adviser as this can become a very expensive and time consuming process.
If you are moving a lot of possessions, large items or a car, shipping costs can be quite high. A single person may be able to fit their possessions into a suitcase or two whereas a family can expect to have a far more substantial list of belongings. Be aware that import duty and taxes may be an issue so check our city guides to see what’s relevant to you.
Insurance in all its forms is especially vital when arriving in a new country. It is often overlooked but is of huge importance. Obviously, medical insurance is an immediate priority, but life cover and home insurance are also essential to consider. There are lots of companies that offer international cover, both the well known high street insurers and expat specific organisations. We recommend that you discuss this in more detail with a financial adviser.
Private education isn’t cheap, international schools tend to be especially pricey as they cater for wealthy expats from all over the globe. International schooling differs from country to country, with some offering expatriated children the opportunity to study within the native school system. However, if you wish for your child to follow an International or British curriculum it would be advisable to look into schooling before you leave the UK. Please refer to our city guides for a more detailed look at international schools in specific countries.
The costs involved can vary greatly depending on the region that you are moving to. It is worth investigating the various city guides for more localised information. However, there are also great financial benefits and savings to be made by moving offshore, especially in areas of tax, wealth management, banking, retirement and estate planning.