Moving to live in another country, especially when it’s on the other side of the world, is an adventure.
It’s an opportunity to create a new life for yourself and your family, to broaden your horizons, and experience different cultures, even if there is no language barrier.
However, such upheaval can clearly pose challenges, and how well you overcome these can be the difference between your life as an expat being a big success, or a struggle.
Read about some of these potential hurdles, some ideas on how to manage them, and why planning ahead is so important.
1. You’re starting a new life thousands of miles from home
If you do move some distance away from home, possibly one of the biggest issue you face could be homesickness.
You will have left with a sense of excitement mixed perhaps with some trepidation, so to suddenly start feeling depressed because you’re missing your hometown and the people you left behind, can be overwhelming.
You also need to bear in mind that even if you are happily settled into your new home and lifestyle, maybe not all members of your family will be.
After all, you may be working full-time in a new job, which is keeping you focused and occupied, while other family members may have more time to dwell on what they are missing.
One advantage is that advances in technology mean that it’s much easier to keep in contact with family and friends you have left, as well as what’s going on “back home”.
However, we would suggest that it’s important not to become dependent on your contact with your loved ones who remain at home. They’re always there as a comfort blanket, but ultimately, you’ll need to focus on where you are now rather than where you were.
Perhaps the best approach is to be aware of the potential for homesickness so that it doesn’t come as a shock, and then take proactive steps to mitigate the effect, such as joining clubs to socialise.
2. You may feel pressure on you to “get it right”
Clearly emigrating is a big step for you and your family.
When you do make the move it is likely to have been the focus of your attention for many months, if not years, so a lot of time and effort will have gone into the planning process.
You will also no doubt have spoken to friends and relatives about your exciting new plans.
Because it’s such a big step, you are likely to feel pressure from others, and perhaps put pressure on yourself, to make sure your big move is a success.
As a result, any setbacks may become exaggerated in your mind, so it’s important to see these for what they are and not to be discouraged.
You should keep a positive mindset and remind yourself of the reasons why you chose to make the move in the first place.
3. It can be challenging to adjust to a different community
One key to a successful transition into the life of an expat is getting used to living in a new community.
As with all major projects, forward planning will pay dividends and greatly improve your chances of a successful transition into a new life in a new community.
The internet is your friend here. Online searches can help you learn about the region you are moving to and give you a great insight into what is going on in the surrounding area. You can also find out about local community groups, including groups of other expats, as well as the range of local activities.
4. You may encounter financial issues
As with any big undertaking, ensuring you get the financial arrangements right is crucial. Indeed, you could go as far to say that if you can avoid any money issues, it can make settling in and making a success of your new adventure far easier.
As such, advance planning is essential, as leaving anything to chance could easily result in you facing challenges soon after your move, when you should be settling in. We would strongly recommend that you get advice from experts, both to help you make the move and to help you manage your finances on an ongoing basis.
Expert advice can be invaluable when it comes to issues such as:
- Transitioning money and assets from one country to another
- Ensuring you manage your tax planning effectively
- Understanding your new pension and investment options.
By getting guidance from experts, you may avoid making any mistakes that could be irrevocable and may cost you a lot of money. For example, if you’re moving from the UK to Australia, then ISAs, which are tax-free in the UK, become liable for tax when you are a permanent Australian resident.
Find out more: What you could do with your ISAs and other investments if you move to Australia
5. You’ll need to find somewhere to live
Clearly, where you decide to live will be an important part of your planning process as you look to settle into your new life.
To an extent the decision may be taken for you if you are moving to work and need to stay close to your place of employment.
However, there will still be a choice to be made about the district you want to live in. While you can obviously carry out online research prior to your move, you will want to get the feel of an area in person, and also consider other factors such as:
- Transport links
- Local shopping and cultural facilities
- School access if you have children.
When it comes to buying or renting, it can often be helpful to look to rent a property initially rather than jumping straight into a property purchase. This will give you the opportunity to get to know an area, and research others, before committing to buying a permanent home.
Get in touch
We have a wealth of experience when it comes to helping individuals and families manage the financial aspects of moving from the UK to Australia, and vice versa.
Please get in touch if you would like to talk to us about your own plans and arrangements.
Please note
The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.
This article is for information only, it does not take into account your personal objectives, financial situation, or needs. Please do not solely rely on anything you have read in this article and ensure that you conduct your own research to ensure any actions you may take are suitable for your circumstances.
All contents are based on our understanding of HMRC and ATO legislation, which is subject to change.
