Things to Consider When Planning to Move Overseas
For some people, the surroundings they grew up in are just a stepping stone to other exciting places and life-changing experiences. There are those that choose to move to other areas of the country for a different lifestyle or perhaps for better job prospects, or even for relationship reasons. For others, they want to go further afield and leave the country they call home altogether. However, if you feel like you want to try living in another country, what do you need to consider before you go?
Depending on where you want to go, there could be a number of requirements when it comes to living in another country. Obtaining a visa may well be a requirement, but you might also need to fulfill criteria to qualify for the visa. Some countries want to see what you will be doing when you move; they like to see that you have a job lined up and that you have money to support yourself while you settle in. In some cases, you need to arrange your new employer to become your sponsor; this tells the authorities that you have a definite place when you arrive. If you are lucky enough to be retiring in your new country, then you will need to provide evidence of enough wealth to support you.
Hopefully, you won’t need to worry about your health for a while, but you need to be aware of any regulations that might exist before you try to move. For example, some countries require you to have health insurance before they grant you a visa, while other countries require you to live in the country for a certain period before you are eligible to use the healthcare services. If you don’t have health insurance, then you will most likely need to pay for any treatment you have.
When you move overseas, you will want to buy yourself a house or an apartment, at least eventually. Many countries include taxes when buying a property, so it is a good idea to find out how much this is and who it applies to. You might find that you have to pay a higher rate of tax if you are not applying for residency or you are buying as a second home. These rates can vary from city to city, so it’s best to do your homework before you leave. It is also worth checking out if there are any other taxes you need to pay as a new resident of the country.
The matter of pensions doesn’t just apply to those that are near retirement, anyone moving to another country should make sure their pension is available for when they retire. You need to notify the company that holds your pension and tell them that you are leaving the country. They will ask you to give them the contact details when you arrive, so they can arrange to pay your pension when you reach retirement age. It is also worth checking with the bank in your new country in case there are charges or fees that you need to pay for money transferred from abroad.
Luggage and Furniture
Many people who choose to move to another country also choose to sell all of their belongings and start again in their new home. It can be a lot easier to arrange only a few things to be transported than a whole container full. If you are shipping vehicles overseas, then you are best going with a dedicated company rather than trying to do it yourself. You need to go through all your things to see what you want to take and what you can leave behind or sell. There are a few options open to you when it comes to transporting your belongings. You can get them flown over, for example. Though this option is costly, it does get your things to you faster. Another option is to send them by boat, which is generally cheaper, but you could be looking at a few weeks before they arrive.
Cost of Living
When looking at what country you want to live in, consider the cost of living into the equation. Although many countries might have lower house prices then your home country, the cost of living might be the same if not higher. Make sure you are looking at everything you might need, from the cost of energy to petrol, food, insurance, and healthcare. The results might surprise you and lead you to think about an alternative destination. Another angle you need to consider is where the cost of living is going. Has there been a steady increase in recent years, indicating another rise, or are things going down? If they are rapidly rising, then it might become financially unworkable to live there.
If you have family back home, then you might want to leave your home in your new country to them in your will. Before you do that, it is best to speak to a local solicitor who can tell you about any rules that surround inheritance such as taxes or limitations. You should also make sure that your family can inherit your home without any legal problems in their country.
Depending on your native language, many English-speaking people tend to move to other countries who also speak English such as Australia, and Canada. There are also countries that have a high number of people that speak English as a second language, so they can also be a popular choice. Before you leave for your new country, try to learn at least the basics of the language so you can interact with the locals without too many problems. The language barrier can be particularly troublesome if you decide to move to a provincial town where the locals don’t speak English.
There can be a lot of excitement and anticipation about moving to another country. However, you need to ensure that you have everything covered before you go to avoid problems later.