It’s no secret that the cost of living varies dramatically between countries. For instance, every country that has joined the EU has seen it’s cost of living rise quite dramatically…but then they have also seen their standard of living rise too so I suppose it’s a case of swings and roundabouts.
When you decided to emigrate I am sure that you looked at costs, including those to buy property and to move, but did you factor in the day to day cost of living? This can make quite a difference in your life style, to where you live and how you live. It would take more space than I have here to discuss each and every country in detail, but I have a few pointers that you may like to think about.
Food
In many countries, although food can be costly in the main cities it is usually much cheaper in more rural areas. You may also find that there you will be able to buy fresh produce locally, which will dramatically reduce the bills. My colleague Alexis, who has a home in France, visits the local weekly market to buy fruit and vegetables and says that the savings are quite dramatic. However it bears remembering that in, say, Greece, the islands - although many are rural - are sometimes more expensive as goods have to be shipped in. These are the things that you need to find out in advance and factor into your plans before you buy.
Utilities
The costs will vary, depending on the size of your home, how many people live there and where you are located. There may, however, be more than one provider and perhaps a comparison exercise would throw up a cheaper provider. A word to the wise here: my son has a far cheaper telephone line than mine, but there is always a problem with it…what’s the use of that? Best case scenario is that you chat to a local.
Schooling
You may find that free State schooling is available. But how good is it? And do you need to live in a more expensive or a rural area to access a better school? In South Africa for instance there are only a handful of State run schools that are rated as acceptable…and private schools really cost. This is the sort of thing that a good estate agent can give you the low-down on.
Health
You need to do your research here. Is there a State health care system that residents can use? If not you will need to pay for healthcare and this can prove very expensive. It is essential to check this out before committing yourself as this can be a deal breaker.
Transport
Costs can vary tremendously. You need to check this out carefully. In Johannesburg, South Africa, for instance there is virtually no public transport system at all. I had a bad car accident and no longer wished to drive, and it is not safe to walk…problem! Also, if one partner works and one cares for the children then you need two cars…and this cost needs to be factored in. Plus registration, insurance, fuel, garaging…
So you can see that ‘cost of living’ actually means the cost of living YOUR life. There may well be some things that are non-negotiable but there may be other things that you can compromise on in order to exchange your present life for one that you perceive to be better. The point is that you need to do your sums and take all the factors into account before deciding exactly where you are going to put your roots down.
Good luck – and please let us help you. We at the OGC Resource Centre have spoken to hundreds of folk like yourselves who are planning a move abroad. And also, sadly, those who have returned, having found that all was not as they thought it would be. Let us share our expertise with you – just phone 0207 898 0549 and have a chat.
Kim Brown
The Overseas Guides Company
Visit my website at: http://www.emigrationguide.com/
Thursday, 24 February 2011
Thursday, 17 February 2011
Save yourself £1000's
Let’s face it, the whole thing hinges on this. You need to make sure you have all your financial matters tied up. It is the one thing you do not want to be sorting out at a distance.
Open a specialist currency trading facility
It’s important to set up an account with a currency company to transfer any monies to and from your relocation destination, rather than using your high street bank. Don’t wait until the last minute and be forced into taking poor rates – with time on your side you will have more opportunities to secure a better rate.
Currency exchange specialists will save you money by …
- Offering better-than-bank exchange rates – on a £100,000 exchange, a currency company can save you up to £4,000 by providing better rates compared to those offered by your high street bank.
- Giving you the option to fix a rate of exchange for a currency purchase in the future. This is helpful if you know when you are moving and expect sterling to worsen against the currency of the country you are moving to. Also, by fixing a rate, you can set a budget rather than worrying unnecessarily about currency fluctuations – you will know in advance exactly how much money you have available when you reach your new country.
- Reducing or possibly eliminating receiving fees imposed by overseas banks. Some fees can be as high as £500.
- Servicing your international transfers with no fees, charges or hidden costs on transfers over £3,000.
- Streamlining regular payments at better-than-bank exchange rates for transfers such as pension, savings or mortgage payments.
There are several currency specialists, but the one that stands head and shoulders above the rest is Smart Currency Exchange. Give them a call on 0808 163 0102, or to get a currency quotation, go to: www.smartcurrencyexchange.com/smartsquotation.htm. Smart also offers an exceptional free guide plus currency worksheets explaining everything you need to know about sending money overseas. Although the guide is for people buying overseas property, anyone interested in sending money overseas would find it useful.
Open a specialist currency trading facility
It’s important to set up an account with a currency company to transfer any monies to and from your relocation destination, rather than using your high street bank. Don’t wait until the last minute and be forced into taking poor rates – with time on your side you will have more opportunities to secure a better rate.
Currency exchange specialists will save you money by …
- Offering better-than-bank exchange rates – on a £100,000 exchange, a currency company can save you up to £4,000 by providing better rates compared to those offered by your high street bank.
- Giving you the option to fix a rate of exchange for a currency purchase in the future. This is helpful if you know when you are moving and expect sterling to worsen against the currency of the country you are moving to. Also, by fixing a rate, you can set a budget rather than worrying unnecessarily about currency fluctuations – you will know in advance exactly how much money you have available when you reach your new country.
- Reducing or possibly eliminating receiving fees imposed by overseas banks. Some fees can be as high as £500.
- Servicing your international transfers with no fees, charges or hidden costs on transfers over £3,000.
- Streamlining regular payments at better-than-bank exchange rates for transfers such as pension, savings or mortgage payments.
There are several currency specialists, but the one that stands head and shoulders above the rest is Smart Currency Exchange. Give them a call on 0808 163 0102, or to get a currency quotation, go to: www.smartcurrencyexchange.com/smartsquotation.htm. Smart also offers an exceptional free guide plus currency worksheets explaining everything you need to know about sending money overseas. Although the guide is for people buying overseas property, anyone interested in sending money overseas would find it useful.
Kim Brown
The Overseas Guides Company
Visit my website at: http://www.emigrationguide.com/
Wednesday, 9 February 2011
Moving Overseas – I can’t make that happen…can I?
What is the difference between people who make their dreams come true and those who don’t? It’s not the act of making painful decisions, nor does it have much to do with having loads of money. People who live their dreams didn’t get what they wanted by selling their soul, struggling against the tide or gaining a windfall from the lottery!
Achieving the dream of living overseas is possible for anyone. Like any big project, it takes a vision and small steps that take you closer and closer to living that dream. People who have successfully made the move overseas didn’t wake up one day and think, ‘It’s official – I’m moving overseas today!’ Instead, they started with a niggle in their stomach. Something inside them felt excitement at the thought of the Mediterranean view from a Spanish villa, a field of wild flowers behind a cottage in France or a condo in America with a BBQ grill big enough to cook 100 hamburgers. And from that niggle, tiny actions were taken – one leading to another.
Sooner or later, if small actions towards a vision continue, the momentum starts to build and the vision becomes more and more achievable. Looking on the Internet for properties on Monday could lead to emailing an estate agent on Wednesday. After a phone conversation with an agent, a fact find regarding visas might follow. Then perhaps a few hours on ex-pat blogs (web journals) a month later and you will understand how to find employment. Perhaps the next step will be to visit a property show and discover finance options that you never knew were available.
When faced with a large project or massive change, many people tend to freeze and think, ‘I’m nuts. How could I actually follow that dream? I don’t have enough money…I don’t know the language…I don’t’. These are usually the same people who have had the same job and the same complaints (about the same job) for years and years and years. These are the people that want more, constantly complain about how they deserve more, but never actually get up and take action. These are the same people who react to life and bumble along letting life take whatever course it puts on their path. Are you a bumbler? I hope not!
Why not make 2011 the year that you start taking tiny actions? Search the Internet, go to an exhibition, book an overseas visit, buy a book or create a journal outlining everything you want. You have a choice – you can focus on how miserable living in the UK is or you can put your attention on how great it will be when you are sitting in the sun, eating fresh fruit and watching your family play in the garden.
When I first had the thought that an overseas life was calling, it scared the pants off of me. I was £30,000 in debt, had no assets, no job and my destination country made it almost impossible for me move there. Added to this, there was no easy way of obtaining a visa to work - let alone stay. Objections aside, my first action was to write in my journal announcing my niggle. I wrote something like this: “I would like to meet a handsome prince [from my country of choice] who will marry me, buy me lots of clothes and pay off my debt.”
A few months later I met a guy during a networking event – he almost fit the bill. The guy was wealthy but he wasn’t a prince nor did he have all his teeth. Needless to say, within 6 months and taking a lot of small actions I sold my possessions and moved overseas. That was over 14 years ago and to this day, I can confirm it was one of the best decisions I’ve ever made.
Not only am I living my dream, but I’ve applied my small step approach to all things in my life – I now have overseas homes (yes – more than one), an amazing husband (who has all his teeth), no debt and an all round wonderful life. So – don’t be a bumbler. Start taking some small steps and discover what life abroad has in store for you!
Kim
Achieving the dream of living overseas is possible for anyone. Like any big project, it takes a vision and small steps that take you closer and closer to living that dream. People who have successfully made the move overseas didn’t wake up one day and think, ‘It’s official – I’m moving overseas today!’ Instead, they started with a niggle in their stomach. Something inside them felt excitement at the thought of the Mediterranean view from a Spanish villa, a field of wild flowers behind a cottage in France or a condo in America with a BBQ grill big enough to cook 100 hamburgers. And from that niggle, tiny actions were taken – one leading to another.
Sooner or later, if small actions towards a vision continue, the momentum starts to build and the vision becomes more and more achievable. Looking on the Internet for properties on Monday could lead to emailing an estate agent on Wednesday. After a phone conversation with an agent, a fact find regarding visas might follow. Then perhaps a few hours on ex-pat blogs (web journals) a month later and you will understand how to find employment. Perhaps the next step will be to visit a property show and discover finance options that you never knew were available.
When faced with a large project or massive change, many people tend to freeze and think, ‘I’m nuts. How could I actually follow that dream? I don’t have enough money…I don’t know the language…I don’t
Why not make 2011 the year that you start taking tiny actions? Search the Internet, go to an exhibition, book an overseas visit, buy a book or create a journal outlining everything you want. You have a choice – you can focus on how miserable living in the UK is or you can put your attention on how great it will be when you are sitting in the sun, eating fresh fruit and watching your family play in the garden.
When I first had the thought that an overseas life was calling, it scared the pants off of me. I was £30,000 in debt, had no assets, no job and my destination country made it almost impossible for me move there. Added to this, there was no easy way of obtaining a visa to work - let alone stay. Objections aside, my first action was to write in my journal announcing my niggle. I wrote something like this: “I would like to meet a handsome prince [from my country of choice] who will marry me, buy me lots of clothes and pay off my debt.”
A few months later I met a guy during a networking event – he almost fit the bill. The guy was wealthy but he wasn’t a prince nor did he have all his teeth. Needless to say, within 6 months and taking a lot of small actions I sold my possessions and moved overseas. That was over 14 years ago and to this day, I can confirm it was one of the best decisions I’ve ever made.
Not only am I living my dream, but I’ve applied my small step approach to all things in my life – I now have overseas homes (yes – more than one), an amazing husband (who has all his teeth), no debt and an all round wonderful life. So – don’t be a bumbler. Start taking some small steps and discover what life abroad has in store for you!
Kim
Kim Brown
The Overseas Guides Company
Visit my website at: http://www.emigrationguide.com/
Thursday, 3 February 2011
Non-res status: how do you achieve this? Part 2
I’m back to continue our discussion on what you need to do to make sure that you have effectively cut off ties with the UK in terms of living here. You will need to do this in order to get that non-res status that will allow you to pay tax in your new county rather than in the UK.
As we discussed, the overall pattern of your life must reflect your declared non-resident status and the fact that you have left the UK for the foreseeable future. I pointed out a few measures you could take and promised I would continue with a few tips relating to tax and finances.
Tax
- Send the completed form P85 to HMRC, declaring that you are a non-resident
- You would be well advised not to return to the UK for an entire tax year if possible. This will emphasise the break in residence
- Do not return to the UK for more than 90 days a year in subsequent tax years, remembering to factor in travel days in this number. It seems they are now counted…
Finances
- Cancel all UK credit cards and reduce balances in your UK bank accounts
- Pay all UK accounts and close them. Demand evidence that they are closed in the form of a letter of acknowledgement
- Consider transferring pension arrangements overseas
Cars
- Sell your car and cancel your car insurance and subscriptions to motoring organisations
And then finally, in your new country of residence, once you have moved abroad
- Establish employment or business links in the new country if you are planning to work there
- Obtain a residence permit where necessary
- Contact the local tax authorities to inform them that you have become a resident
- Purchase or rent a property locally on a long lease and buy a car there
- Register with a doctor and dentist in your new country
- Open a local bank account
- Establish social and cultural connections in your new homeland by perhaps joining clubs etc
- Register children at schools if appropriate
- Have a will drawn up in your new country of residence
Provided you can show that your personal, financial and social connections are now firmly lodged abroad you'll have a good chance of non domicile status being accepted. Best of luck, and I’d love any input from you on your findings.
As we discussed, the overall pattern of your life must reflect your declared non-resident status and the fact that you have left the UK for the foreseeable future. I pointed out a few measures you could take and promised I would continue with a few tips relating to tax and finances.
Tax
- Send the completed form P85 to HMRC, declaring that you are a non-resident
- You would be well advised not to return to the UK for an entire tax year if possible. This will emphasise the break in residence
- Do not return to the UK for more than 90 days a year in subsequent tax years, remembering to factor in travel days in this number. It seems they are now counted…
Finances
- Cancel all UK credit cards and reduce balances in your UK bank accounts
- Pay all UK accounts and close them. Demand evidence that they are closed in the form of a letter of acknowledgement
- Consider transferring pension arrangements overseas
Cars
- Sell your car and cancel your car insurance and subscriptions to motoring organisations
And then finally, in your new country of residence, once you have moved abroad
- Establish employment or business links in the new country if you are planning to work there
- Obtain a residence permit where necessary
- Contact the local tax authorities to inform them that you have become a resident
- Purchase or rent a property locally on a long lease and buy a car there
- Register with a doctor and dentist in your new country
- Open a local bank account
- Establish social and cultural connections in your new homeland by perhaps joining clubs etc
- Register children at schools if appropriate
- Have a will drawn up in your new country of residence
Provided you can show that your personal, financial and social connections are now firmly lodged abroad you'll have a good chance of non domicile status being accepted. Best of luck, and I’d love any input from you on your findings.
Kim Brown
The Overseas Guides Company
Visit my website at: http://www.emigrationguide.com/
Subscribe to:
Posts (Atom)
