Those of us that have chosen to move abroad for a better career or family life know that many issues and challenges present themselves during the often trying process. First in many expat’s minds is the issue of what to do with their money.
Many expats have a frozen UK pension and would like to transfer this offshore. Others want to start contributing to a pension for the first time or have cash from a house sale to invest.
HSBC’s annual Expat Explorer survey sheds light on exactly what instruments expats are using and what the latest trends are:
“In Singapore there was a 9% drop in cash investments (37% held cash investments upon relocation compared to 28% now) but a 5% rise in equities (14% up to 19% now). In Hong Kong, investments in cash dropped 7% over time and equities and real estate were lifted 1% and 2% respectively. Similarly in China there was a 5% drop in cash investments and a 3% boost in equities. However, going against the trend, there was a slight drop in the number of expats choosing to place their money in real estate over time (20% down to 17% now).”