Did you know that in 2014, 320,000 people moved abroad from the UK and according to The Office of National Statistics, Spain, France and Australia were amongst the favourite destinations?
If you are thinking of taking such a big step, Wrekin Removals in Telford offer some practical things to consider before taking the plunge:
Applying for a Visa - Whilst British citizens don’t need a visa to move to an EU country, getting the paperwork right to move further afield e.g. America or Australia can be a problem. If you are going overseas to work, you may need to be sponsored by your workplace or have a skill. It is sometimes easier to get a Visa to a location where there are skills shortages. If you’re wishing to retire abroad, you may have to prove you have the money to support yourself.
Health - The cost of health care abroad can be significant. In the European Union, you need to apply for an EHIC (European Health Insurance Card) in order to receive emergency treatment at a reduced cost or sometimes for FREE. In Australia, Medicare is the publicly funded scheme which exists alongside a private health system. Having health insurance is often a condition of being granted a Visa. Make sure you check the rules and regulations of the country you’re planning on relocating to, before you go. Property taxes - If you’re buying a house, be sure to check the cost of tax and legal fees as well as ongoing taxes.
Capital Gains Tax - Prepare yourself for capital gains tax (CGT) on any profit you’ve made when you come to sell your home – you may be taxed in the UK and your new home country.
State Pension – whilst the state pension increases every year, you will only get a rise if you move within the EU, Switzerland or a country with an agreement with the UK.
Foreign exchange - Not only will you need to change a lump sum into your new local currency, but you may need to transfer money regularly between the two countries.
Cost of living – before you decide on a country in which to settle, look into the living costs - property prices may be cheaper but daily living costs may be quite expensive. Never assume that the exchange rate will be the same.
Accessibility – check out the costs and ease of access of returning home to visit relatives and friends.
Inheritance rules – if you’re using your savings to move, check the inheritance laws abroad by talking to an International Solicitor, you need to know that you can leave your assets to your family as you wish. Find out about Inheritance Tax.
Language – is English the common language where you are moving too or do you need to learn a new language.
Wrekin Removals can also help you move from the UK to anywhere in the European Union or further afield. Taking care of your personal possessions and precious belongings, this reputable removals firm have over 10 years’ experience and as members of the British Association of Removers will ensure that your move goes as smoothly as possible.
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