Offshore Planning
Becoming an Expat
What to consider:
The welfare of you family, this can be a major factor in an expatriate cutting short his/her overseas assignment.
Accommodation, you need to feel comfortable and safe.
Education, the standard at international schools is excellent.
Planning for both personal and financial, including taxes.
Health, sufficient cover in various areas.
Driving license.
What to take with you on your move abroad.
The Internet provides a wealth of information for any destination. Also, try and find a country guide, which will provide information for all your family needs. Such as up to date information on the country and people, state, economy, immigration procedures, health and hygiene, shopping, money, communications, education, local services, customs and procedures, travel and leisure, they can really help you to make your time abroad easier.
Visa?
If you are being sent abroad on a work contract, your employer may apply for a visa or work permit on your behalf. However, if you need to make the arrangements yourself, it's important to have a clear understanding of the visa requirements in your destination country. Contact the visa department at the relevant embassy and they can normally explain the country's visa regulations to you.
Relocation specialists:
They can assist you with issues like finding a place to live, selecting suitable schools and locating the best local shopping facilities.
Establishing yourself:
Once you've moved and the last of the packing cases has been emptied, getting established in your new community will help to make you feel more at home. Expatriates frequently tell us how they benefit from building friendships with other expats and locals alike. It's a great way of starting to enjoy the new experiences that surround you and helping you to understand and adjust to the foreign culture.
Many expatriate communities have clubs, women's groups, international schools with parent associations, volunteer groups and religious and sporting activities that offer you the chance to mix and make new friends. Your embassy or consulate should have information on these expat clubs and may even host social occasions for resident nationals like you.Health: Before you travel, it's sensible to check out any possible health risks in your destination country. If you are living in a country that is a member of the European Union, you are entitled to emergency medical treatment so long as you present a valid E111 form. It is certainly important to carry out your own health check on the medical arrangements available in your destination country.
Ask you Embassy on arrival for details of local contacts. If you are being sent on an overseas job assignment, it is likely that part of your relocation package will include international private medical insurance for you and your family. If this is not the case, then you should consider purchasing cover that gives peace of mind in the event of an accident or illness, please contact us for further information.
Education:
If you have children who will be accompanying you overseas, you may want to continue their education at one of the thousands of international schools that exist around the world. Also remember to check with any school of your choice when the new school year starts in your destination country for easier transition for your children.
Finances:
When you finally get offshore, there are many different rules and procedures to consider as an expatriate. You will probably need to have a local bank account for utilities or credit card purchase. Talk to your colleagues and contacts once you arrive - they will help you to understand the procedure and may even recommend a bank, which has a good service standard and English-speaking staff if required.
Offshore banking:
Montpelier can provide you with a range of offshore bank accounts, depending on your requirements. Such bank accounts will provide you with a range of benefits and features that are not normally available from a local bank.
My eligibility? Generally, anyone who is living or working overseas - or who expects to be -may be able to benefit from offshore banking. And you don't even have to travel to a bank branch to access your accounts, since most of the business is conducted remotely by telephone and online banking, post, or fax.
