Even in these challenging times with Covid-19, moving overseas to begin expat life is becoming a popular choice among Australians, but sadly many fail to prepare for expat life effectively.
Starting a new life abroad can be an exciting new adventure, whether it is a new job, retirement, or just to try something different. If you are thinking about moving abroad and becoming an expat, then there are certain things you should consider first. To learn more about how to prepare for life as an expat, take a look at some tips that we’ve listed below for you:
Start with the basics
Before moving abroad, it is essential that you familiarise yourself with the technicalities. Will you need a visa? Will you need any vaccinations or medication?
Check both the embassy websites of your new country and home country for details. Take a look at some of the key laws of the country, as they could differ from home quite significantly. Also, think about sorting out important things such as which bank is best (and safest) to open your overseas bank account, and which phone companies will provide a good value, reliable service with excellent coverage for the country that you’re planning to move to.
Think about where you will live
Choosing a place to live where you will feel comfortable in your new country is essential. If you’re moving with work, ask if you can visit before you move so you can scope out the local areas and housing situations.
If you’re unfamiliar with the country or city, it’s often a good idea to contact a relocation agent to help you make a decision on what kind of property is best for you. Should you choose to live in a busy or quiet area, do you need schools or transport links nearby? Make sure to never rush into buying or renting a place abroad. Take your time to learn the lay of the land and what needs are important and then make the
Research the culture (before you land)
Every country around the world has its own unique culture. In fact, countries can have cultures within cultures depending on what region you’re in. Even if you are moving to a country which speaks the same language as you, there will still be some big cultural differences that you should prepare for. Make sure you do your research before you arrive; look at local customs, traditions and behaviours. This will give you a head start on settling in before you even move.
Make sure you understand the Australian and overseas tax consequences of your move overseas‘Outbound Expat’ tax consultation with an expatriate tax specialist like ourselves.
Whether you use us here at Expat Tax Services or another firm, is not important, but attending an ‘Outbound Expat’ tax consultation with a specialist expatriate tax firm like ours, will set you up for success for your overseas adventure.
Working in advance with an expatriate tax specialist like our team here at Expat Tax Services will allow you to understand all of the above issues. This will allow you to minimise your taxes and maximise your opportunities to grow your wealth, tax effectively!
If you want to understand the tax issues about your move, or if you simply want peace-of-mind, book an ‘Outbound Expat’ with us today! We guarantee, you’ll be glad you did.
At Expat Tax Services we’re an Australian Chartered Accounting firm that specialise in expatriate tax for Australian expats living and working overseas, and foreign expats living and working in Australia.
Unlike most firms, many of our team are expats ourselves, so who better to understand the complex tax issues that expats can face. If you’re an expat who needs help with tax, or your Australian tax return, contact our team today.