The classic idea of the ‘Brit abroad’ is well-known and widely considered, with an estimated 5.5 million UK citizens currently thought to live permanently abroad.
This number could well increase in the future too, with population rises and the development of new freedom of movement agreements outside of the EU likely to see Brits strengthen their number in an array of countries.
If you’re planning to relocate, however, the question that remains is what do you need to plan for? Here are some ideas to keep in mind.
1. Income and Support
Unless you’re relocating to start a new job or enjoy a hard-earned retirement, you’ll need to seek out viable income streams and support in your new country.
In most cases, you’ll also need to accumulate cash and savings in order to fund your move, and in both instances you should seek out income streams that are as flexible and passive as possible.
For example, you could consider opening a trading account and accessing the financial market as a way of boosting your earnings. Of course, this will require some theoretical knowledge and a keen sense of determinism, while you should also use a demo account to refine your strategies and practical skills.
This may even lay the foundations for a lucrative career over time, affording you the freedom to travel and work anywhere in the world!
2. Organize Visas and Logistics
Depending on your chosen location, you’ll also have to attend to the logistics of the move and ensure that you have the requisite visa.
The visa requirements will vary from one country to another, while some jurisdictions may also ask overseas residents to apply for a legally compliant work permit. It’s your duty to understand and meet the requirements that are relevant to you, ideally in a proactive way and well ahead of the move.
In some instances, you may have to live and work in a new country for between one and two years before applying for permanent residency, although this may only apply to younger people.
If you’re unsure of where to start, consider seeking out some initial legal advice before pursuing your full range of options.
3. Learn the Lingo
While English is the second most spoken language in the world, it’s always wise to learn a new country’s native tongue if you intend to reside there for a while.
There are various practical reasons for this; from building relationships with neighbours and colleagues to easing your transition and understanding communication such as bills.
When buying property or entering agreements, you’ll also have to review the legal text on contracts and ensure that you’re entering into a fair and transparent arrangement.
Sure, you can hire a professional translator to help in this regard, but this is incredibly expensive and learning the native language is a far more preferable option.
