Becoming an expat: 3 things you should know

Moving to a new country is an exciting time, but it can also be daunting. If you’re not careful, you could end up making a whole series of mistakes. To help ensure your transition runs smoothly, it’s worth bearing the following three tips in mind.

You’ll need to be savvy when it comes to money management

You might have money management nailed in the UK, but things are about to get a whole lot more complicated when you move abroad. For example, you’ll need to make sure you’re in the know when it comes to the tax rules in your new country. Expats sometimes end up unnecessarily paying tax twice (once in the UK and once in their new country) because they haven’t taken the time to research the regulations. To avoid paying more money than you have to, make sure you check out the rules in your destination country before you leave the UK. It’s worth noting that some countries have double tax agreements with the UK that determine which nation has taxing rights on certain sources of profit or income. For example, these agreements exist between Britain and the US, Canada, Spain, France and Italy.

You’ll also need to choose your savings and investment products with care. Ideally, you should go for products that enable you to conduct your transactions in English no matter where you’re based in the world and that are tailored to cater to the needs of international clients. Fortunately, this is a competitive industry and there are many attractive options to choose from. Quantum from RL360° is one example. A flexible, regular savings solution, it is available in a variety of currencies. You can find out more about it by checking out RL360° Quantum reviews online.

It pays off to do plenty of preparation

The more you know about your new host country before you arrive, the more quickly you will be able to find your bearings. By spending some time researching everything from the geography and climate to the history, culture and politics of your destination, you should find you arrive feeling more confident and prepared. Look into practical things like healthcare provisions and local amenities too.

If you’re going to a non-English speaking part of the world, it’s useful to start learning the language before you move. Even if you only have some basic phrases when you first arrive, this will help to make everyday interactions easier and you should find that people are friendlier to you if you make an effort to speak their language.

You shouldn’t expect to settle in straight away

Feeling homesick in the first weeks and months is common among expats and you shouldn’t see this as a failure or a sign that your move has been a mistake. It takes time to establish yourself and feel comfortable in a new place, and you’re bound to miss home to begin with. To speed up the process of settling in, it helps to be open to new things. Being ready to experience new customs, foods and people should help you to integrate into the local community and allow you to make the most of your experiences abroad.

Being an expat will always have its challenges, but by bearing suggestions like these in mind, you stand a good chance of making a success of your new life abroad.

 


Photo credit Stein Magne Bjørklund via Flickr

 

 

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