Thinking of Moving Overseas? Are you ready?

Moving overseas for a long period of time is a dramatic lifestyle change. Unlike moving within the same country, the new surroundings will, for the most part, be an alien environment in which you may be disadvantaged, even if you are already familiar with the area from previous visits.

Actually living in a new country brings a whole host of new challenges. Apart from language, the whole system for residence, home ownership or rental is different and can be surrounded in red tape.

Doing as much advanced homework as is possible can reduce the surprise factor on arrival. Look into GWS Offshore banking to help with financing the move and placing monies offshore in preparation for breaking the tax link from the UK.

There are some things to consider that may make the move easier. These range from the not so obvious through to the obscure but include the following:-

Sell the car and buy one abroad. Chances are it will be wrong side drive anyway, but UK spec cars (save money by calling 0800 numbers uk )  are different from those sold abroad so getting servicing and spare parts may be costly. Shipping can be expensive too if you cannot drive there.

Ship as little furniture as possible. Containers cost a lot of money, so only take essentials and have a plan to buy the rest locally.

If renting your home in the UK whilst moving abroad, get a reputable property management company. You will also have to tell HM Revenue and Customs that you are leaving the country and they will liaise with the management company so that a portion of the rent is withheld to pay any tax due.

Write down everything and store it in at least two places. Once overseas, accessing UK phone numbers, company details or other contact information may not be so easy.

Also, make sure your international bank account is usable by internet and can make wire payments.

On arrival in your new home, get all utility and local tax bills set up to be paid automatically. That means that you will never miss a payment and provided your international bank account has sufficient funds, you can always transfer money to your local bank within days.

Set up a global e-mail account well in advance of the move. Many users have an e-mail address linked to their current service provider. Consider a free account from one of the many providers such as Hotmail, Google or Yahoo! so that you can contact friends and relatives easily.

Inform the post office of your move and set up an international redirect service for at least six months. No matter how thoroughly you plan, someone will be missed, so getting mail forwarded can catch the stray and keep you in the loop.

Check pension plan details. If you plan to retire whilst abroad, then make sure you have the details of any pension plan administrator in case there are problems.

State pension rules mean that indexation rises may not occur once you have left the country.

Learn the language. Get as fluent as possible as quickly as possible so that you can integrate and become part of the local community. It will also help to understand the bureaucracy of local tax and planning rules.

Engage the services of an English speaking lawyer. If buying overseas, then no matter how good you speak the language, it can cover all bases to work with a local specialist who can speak English.

As you embark on your journey overseas, here is good travel credit card that might interest you as well.

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