With the joy of the internet allowing us to explore the world from the comfort of our own home and dreaming about visiting far tropical sunny places; it seems that more and more of us are actually planning on moving abroad at least for a few years in a bid to broaden our horizons and experience different cultures and ways of life.
If you’re currently considering relocation overseas to for example ARUBA, and thinking about whether you could survive a move abroad and personally benefit from expatriation, then this 9 things article could help you get some planning in place to make your decision that much easier.
1) Location, Location, Location Where in the world would you most like to go? What is it about moving abroad that appeals to you? Where in the world are you allowed to live and work and which countries can fulfill the dreams and aspirations that you have for a new life abroad? By asking yourself questions such as these you can do your location research accordingly and ensure that wherever in the world you decide to move to you will get access to the facilities and amenities you want and live the kind of lifestyle that you’re dreaming of.
2) Learn the Language You will get far more out of stay overseas if you make the effort to speak the local lingo. Consider taking language lessons before you go and then continue your training among native speakers once you relocate. You’ll find it seriously rewarding and by having a second language under your belt, chances are even more countries will begin to appeal to you where you can go and live and practice your new foreign language skills.
3) Finding a Home Getting accommodation sorted out will be a priority when you move abroad. Even if you’re expatriating for good, consider renting real estate before committing to purchasing could be a wise idea. That being said; rental rates in Aruba are high and it is currently still a buyer’s market, so there are great deals to be found buying a property now. See www.arubahouses.com for some great listings.
4) Keeping a Home If you already own real estate in your original home country what are your plans for it while you’re away? Will you leave it empty, rent it out or even sell it. Your decisions may depend on whether your plans for a move abroad are temporary or permanent of course – but remember real estate is usually a great asset to hold on to but that your decision relating to what to do with your home will have a certain taxation implication, from income tax due on rent earned to capital gains tax due on a house sold.
5) Jobs Abroad Are you planning on moving abroad to work – if so are you allowed to work in the country you’re planning to move to? Will you need permission to take employment, will your skills and experience be valued or even recognized abroad. How realistic is it that you will find a well paid job abroad? You have to look into the realities of all these questions and ensure that you can work abroad and afford to live the lifestyle you want to live. Before moving to Aruba you’ll contact Dimas for Residency and Work permit requests. Website: http://www.dimasaruba.aw
6) Taxes All countries have different tax systems and some countries like America seem to own their citizens in taxation terms no matter where in the world they live. Check out what rates of tax you will be paying overseas, make sure you won’t have to pay tax back home as well and ensure you’re not about to move to a country where tax is even higher than you pay currently – because where would the fun be in that!
7) Visas and Permissions Will you require a visa to move to your chosen country before you even arrive or can you sort out residency and employment visas once on the ground? Ensure you know your legal obligations in terms of getting permission to enter and reside in a given country before you even set out, because if you fall foul of the rules and regulations you could be fined, imprisoned or sent back home.
8) Stay Healthy Getting healthcare treatment abroad isn’t always as easy as you might think. Some countries have a poorly funded healthcare system and other nations don’t even treat those without insurance in place. Consider having a good international health insurance policy in place to cover you in all eventualities and which will ensure you receive the best standard of care available. Don’t mess with your health.
9) Financial Planning And finally – before you even consider packing up and shipping out make sure you have some money behind you to tide you over once you arrive and also a financial lifeline in case you ever need to get back home in a hurry! Financial planning might be the most boring but most essential part of planning a move abroad. Get it right and you’ll have nothing to worry about and you can enjoy your new life – get it wrong and your new life abroad will be over before its begun as you’re forced to take a dead end job or even return back home and take up where you left off having left your dreams for a brand new life far behind you.
For real estate sales inquiries please contact me.