Fco issues checklist for brits moving abroad
Photo credit: Falcon505
British nationals are advised by the FCO to “plan for the unexpected” for when they head overseas, after seeing a rising number of expats asking for financial help or advice with house purchases going wrong or not having enough to afford medical bills.
Six million British nationals currently live abroad, according to FCO figures, but with property disputes, banruptcty, pension complications and unexpected health issues all rearing their heads, it is important for expats to be as prepared as possible.
“It’s important to do your homework so that you are well informed about your new environment before you travel,” says Foreign and Commonwealth Office Minister Mark Simmonds.
The FCO checklist is as follows:
1. Do your homework – Research your destination, visit forums and expat community resources to help get a feel for the area.
2. Read up on local laws and customs
3. Don’t rush into buying abroad – Take time to visit the area and other properties nearby.
4. Seek independent legal advice – Don’t feel under pressure to use your property developer’s or estate agent’s contacts, check out the gov.uk website for the Foreign and Commonwealth Office’s English-speaking lawyers lists.
5. Plan for your health – Once you permanently leave the UK you are no longer entitled to medical treatment under the NHS or via a European Health Insurance Card (EHIC). Be sure to take out health insurance and if you are staying within the European Economic Area (EEA), read up on the S1 form (previously known as the E121 form).
6. Consider your long-term financial requirements – Read up on the impact moving overseas may have on any benefits or retirement income received.
7. Read up on tax regulations – Be sure to research the taxes that will be applicable to you in your new home (as well as back in the UK) once you have moved abroad at http://www.hmrc.gov.uk/incometax/tax-leave-uk.htm
8. Don’t forget to take into account exchange rates and potential financial implications of moving overseas.
9. Tell us you’re leaving – You need to notify the Social Security Office, HM Revenue & Customs and the Department of Work & Pensions that you are moving overseas, as well as your GP. For a full list of who to contact, visit https://www.gov.uk/moving-or-retiring-abroad
10. Integrate –Try not to isolate yourself and do make an effort to learn the local language.
Other global living news this week:
10 worst cities to live in the world
Damascus is the worst city to live in the world, according The Economist Intelligence Unit. The EIU’s latest report compares cities and ranks them in terms of stability, healthcare services, culture, environment, and infrastructure. After taking into account all the factors, Damascus in Syria has been ranked the worst place to live. Indeed, in the years since 2011’s Arab Spring, Syria has suffered instability and violence on a tragic scale, with Damascus at the heart of much tension.
Other cities on the list in Dhaka in Bangladesh, Lagos in Nigeria and Port Moresby in Papa New Guinea.
Source: The Independent
New York now second most expensive city in the world
New York is now the second most expensive to rent business or residential space for employees in the world.
The US city knocked London from the runner-up slot, ranking just below Hong Kong in the top spot. Savills’ World Cities review shows that the total accommodation cost rose in old cities and fell in new world cities, remaining broadly stable overall.
New York has risen from being the fifth highest in the charts in 2010 to taking the second spot in the charts this year.