Living as an expat – some friendly advice

International health insurance

One of your first priorities when moving abroad should be to organise international health insurance. If you’ve already moved and have not investigated your options our advice is to do so now!

Just like any major investment, the choice can be daunting so do take expert advice before you decide. No two international health insurance policies are the same and you don’t get the opportunity to test drive overseas medical insurance… so the pressure is on to get it right first time. Take the time to research the international health insurance market thoroughly and make the right decision for you and your family.

Expat pension advice

As with any financial decisions, expert advice should be taken and none more so than when evaluating your expat pension. Offshore pension savings plans are offered by many different providers and this allows expatriates to continuously make regular savings and ad hoc payments while living in different countries or even if you return home. The younger you are when you start saving for your retirement the less you will need to save monthly… so our advice is the sooner you start, the better.

Inheritance tax

When buying abroad one of the most overlooked financial precautions concerns inheritance tax. This oversight can prove costly. For example Spanish authorities can ask for up to 82% tax on foreign-owned property. Those buying property in France may find that they cannot choose who inherits the property. Seek expert advice before leaving your native country.

In summary, we cannot recommend strongly enough the need to get financial advice for living overseas… laws and taxations are different in every country and experts should be used at every corner.

Good luck and happy financial planning.