Where do you want to move to? To obtain a copy, just [click here.] You can also ask your accountant, if you have one. Here are six questions that you should ask yourself before deciding to make the big move: Your intention is key to the kind of experience that you’ll have. One of my clients said that the single most important question he needed to ask himself before he moved abroad was about his lifestyle. EXPAT FINANCIAL & Design is a registered trademark of TFG Global Insurance Solutions Ltd. You can read about our cookies and privacy settings in detail on our Privacy Policy Page. Many countries offer excellent healthcare to expatriates, while others offer nothing at all. 1. The hurdles may seem tough to overcome, but proper planning will help you handle every challenging situation. And let’s not discount moving abroad for love. 4. Do you have a backup plan? There is no hockey here, no panda-hugging prime minister and no grand lakes. You will surely feel accepted in a new location, which you can call your second home once you learn that language well enough. But despite the feeling that I live in limbo between two places I love, I wouldn’t trade it for anything. But if you’ve picked a popular expat destination like Singapore, UAE or Taiwan, you’ll find plenty of people in the same boat as you. Education, work experience, language skills, and physical and mental wellness are all perfectly legitimate answers. By continuing to browse the site, you are agreeing to our use of cookies. These cookies are strictly necessary to provide you with services available through our website and to use some of its features. It is essential to talk to an expat tax advisor if you are moving abroad to discuss your global tax requirements. Click on the different category headings to find out more. You can leave some cash in your native place and use it as a financial lifeline to fall back on if required. One expat moves abroad every 44 seconds. However, US citizens will have to pay tax no matter where they live and work. For the rest of us, we need to have a safety net. You’ll be able to learn a new language, partake in delicious local cuisine, and go on exciting vacations in a new landscape. Consult our FAQ made by the most frequently asked questions and specific terms of expatriation. Moving abroad can be a daunting prospect, particularly when it comes to your finances. Why wouldn’t you want to use an opportunity to make new of friends, pick up a language and scratch more places off on your Luckies Scratch Map? Prepare for returning even before you’ve left (not mentally, just practically). Travel opportunities. If you can begin trialing this before you leave your home country, you can have an understanding of what’s required. Similar to purchasing property, location is a significant factor when you are planning to move abroad. Moving to a foreign country on a short-term or long-term basis is in no way an easy choice to make. International experience creates global citizens, who can change our planet for the better. I love the bustling British capital, but it’s not as culturally diverse as Toronto, not as beautiful as Vancouver and not as friendly as Halifax. You need to pay for a visa, plane ticket, shipping, deposit on a new flat. In some ways, it’s harder than dating. It’s a tough choice to give up one incredible place for another, even if temporarily. Please be aware that this might heavily reduce the functionality and appearance of our site. What to Know About Becoming an Expat During the COVID-19 Pandemic ... meet online to give prospective emigres the opportunity to ask questions. FCA Firm reference Number is 307133. There is a difference between being an immigrant and an expat. Becoming a durable and sustainable expat is all about preparation, with a dash of flexibility and risk involved. Whether you are being employed in the country, accompanying a spouse, retiring, or moving for pleasure these questions are likely to affect your expat experience. We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. We’re familiar with the good old “reverse culture shock”—readapting to your country and its culture is as challenging as embracing a new one. What are you going to do about health insurance? Have a family member temporarily adopt your puppy instead of giving it to a stranger forever. Weirdly, moving home also requires you to ask yourself a lot of the same questions as moving abroad: Can you restart? Due to a growing cultural acceptance and more resources for expats, the number of people living abroad has exploded in recent decades. Why do you want to move abroad? Knowing the accurate taxation policies of your expat destination will help you to be better prepared to manage your finances. Before I launch into the 19 things no one tells you about being an expat, I want to note that, of course, this is specific to our situation. (If you are moving abroad and it’s covered by your employer, congratulations! While I think many of these things are applicable to a lot of expats, I know they’re not universal. --1. The Cons – Culture shock and cultural barriers. Documents, processing fees and waiting times can’t intimidate you if you’re really going to make this happen. Health insurance is an important option for expats and there are many providers offering different options. When you have a rough day where you just want to give up and head home, reminding yourself of the why will encourage you to keep pushing your boundaries. Nearly 10 per cent of Canada’s population lives, works or studies abroad. Since these providers may collect personal data like your IP address we allow you to block them here. Delivered by Email – Instantly! We may request cookies to be set on your device. Please contact TFG Global Insurance Solutions Ltd. for more information about your specific jurisdiction. There are 3 major questions that every expat woman should ask before making an expat move. 9 Questions To Ask Before You Become An Expat. And resettling back in your old life may be harder than you think. After studying in Denmark and Australia, I “settled” in London three and a half years ago. It can be a daunting choice, but also a hugely rewarding one. 1. Healthcare Information By Region & Country, 9 Questions To Ask Before You Become An Expat, https://expatfinancial.com/wp-content/uploads/2019/06/Global-Expats-iStock-484740110-small.jpg, https://expatfinancial.com/wp-content/uploads/2014/11/logo.png, Top 7 careers for Expats in South America. Moving abroad is a bureaucratic process. EXPATRIATE INTERVIEW QUESTIONS Name: _____ _ How many international assignments have you had? 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