Returning home after a long time overseas can be a stressful and drawn out process which requires careful planning and consideration. The right kind of advice from the right kind of adviser can ensure your journey home goes as smoothly as possible giving you the chance to focus on other matters as your repatriation becomes a reality.
Whilst away from your home country, you will most likely have been classed as non-resident for taxation purposes. It’s important that you register with the local tax authority in your new country of residence as soon as possible.
To ensure you aren’t subject to unexpected tax liabilities in your new country of residence, it’s vital that you review your existing investments. By actioning this before leaving, you could prevent a large chunk of your wealth falling into the hands of the tax man.
Whilst it’s not a requirement, it’s probably prudent to close any local bank accounts to stop accruing charges.
The tax implications of selling a property overseas can be eye-watering. This is why many international workers choose to rent throughout their time overseas.
If you have taken out some form of cover whilst residing overseas, it’s often the case that your plan will be worthless when you leave so it’s imperative that you obtain a more suitable policy.
Whilst the majority of internationally based advisers are geared up to only provide offshore and localised solutions, at Skybound we specialise in repatriation services and offer an unrivalled knowledge of both offshore and ‘home’ investment solutions. Find out how we can make your move home as stress free as possible by talking to an adviser now.
You can reach us directly by calling us between the hours of 8:30am and 5pm at each of our respective offices and we will immediately assist you.
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