For prospective UK expats emigrating to New Zealand should be a serious point of consideration.
When potential expatriates begin to think of possible work destinations there are a number of places that immediately spring to mind, you have the busy Asian cites of Tokyo, Singapore and Shanghai, you have the tax sanctuaries of the Middle East and also popular European destinations like Moscow and Spain.
However, a country that may not instantly pop into your head, but perhaps should, is Australia’s lusciously green neighbour- New Zealand.
Now more than ever may be the perfect time to consider emigrating to New Zealand for a number of reasons. New Zealand has suffered quite a hefty brain-drain (its native skilled workers choosing to leave for foreign shores) in recent years, so for this reason they have sought to make the country as attractive as possible for foreign workers. But the United Kingdom is suffering a brain-drain of its own, as taxes get higher and austerity measures kick in, England is losing its lustre for the skilled worker, and this is when a country like New Zealand can benefit.
Indeed the brain drain is the primary reason for Britons to consider Emigrating to New Zealand, With a lack of skilled professionals of its own, there are a large amount of great opportunities for skilled British expatriates. New Zealand is currently in a good economic state, better than England, and skilled Brits will be able to find work in industries including IT and finance, if you possess desirable skills than getting a working visa should not pose much of a problem.
Entrepreneurial UK expats emigrating to New Zealand will also have a host of opportunities as New Zealand is very welcoming to foreign businesses. The World Bank recently rated New Zealand as second only to Singapore when it comes to starting a business, and they examined factors such as time it takes to start a business, amount of government red tape (including international trading) and also business tax.
Of course one of the big bonuses of becoming a UK expatriate is the potential to enjoy a more favourable tax regime, and by emigrating to New Zealand you will do so greatly.
The tax regime is very inviting for new citizens, whilst not nil-tax, new expats can enjoy incredibly competitive rates of tax. Income tax levels are very low, where in the UK the highest rate of tax is at 50 percent, in New Zealand it’s just 33 percent, with much lower rates for lower brackets.
It’s also worth bearing in mind that becoming an expat in New Zealand will also give you fantastic retirement options. Not only will you be able to retire in an incredible country of vast natural beauty and delightful weather, you will also be able to take out a QROPS, which is a special type of pension transfer, fully recognised by HMRC, that enables you to transfer your UK pension overseas and thus be free from UK pension taxes.
If you are approaching retirement and are simply looking for a nice retirement destination to spend it in then again New Zealand is an ideal place, new residency visas have been recently introduced especially for foreign retirees, and if you qualify it will also allow your family to join you.
New Zealand’s popularity amongst expats is steadily growing, and it should definitely be on the mind of anybody who is seeking a new life abroad.