More and more people are relocating overseas to take advantage of the jobs that are available. If this applies to you, you will no doubt have a lot to plan and think about before your big move. However, one thing you can do is learn from the mistakes other expats have made. In this post, we are going to reveal five things most people forget to do when emigrating, so you can make sure you avoid making the same errors.
1. Sorting out tax in their new country
Firstly, you will need to notify the authorities in your home country that you are planning to leave, otherwise you may find yourself subject to additional taxes. You then need to sort out your taxes in your new country. You will need to research what taxes you are subject to, and how you go about paying them.
2. Forwarding correspondence
This is one of the most common things people overlook. Cancelling policies and utilities from service providers who regularly contact you by mail is something that is always done, but most people fail to consider their other correspondence. Moving overseas doesn’t mean people won’t want to get in touch with you and if your correspondence is still being sent to your old address you could miss out on important mail. This can be very frustrating, especially if you’ve sold your house or have no way of getting in touch with the person that lives in your old place.
3. Finding a doctor beforehand
Leaving healthcare until you get to your new location is risky. You want to make sure you have a doctor set up before you move. If this is not possible, at least set up an appointment with one so you can sort it as soon as you get there. You may also need to invest in medical insurance. This is a necessity for a lot of expats in certain countries. Moreover, the standard of public medical care may not be up to the level you are used to, so it is definitely worth doing your research before.
4. Opening a local bank account
Make sure you have a bank account open in your new location before you move, otherwise you could find yourself being subject to some very hefty transaction fees and currency fluctuations. You don’t have to close the bank account in your home country - in fact, a lot of people still use their home bank accounts regularly, especially if they have family in their home country or they are planning on re-visiting or even moving back there one day. You will need to contact your bank to inform them that you are moving abroad however.
5. Taking copies of all important documents
Make copies of everything you think you may need while abroad and, of course, take the originals too. This includes your birth certificate, any references, student / employee certificates, marriage certificate, pension plan documents, passport, ID card, social security cards, vehicle titles, loan documents, wills, house deeds, insurance policies, mortgage documents, and such like.
So there you have it – the top five things you should not forget before you move abroad. Make yourself a checklist to ensure everything runs smoothly and your relocation should be much less stressful, allowing you to settle in much quicker.