Four considerations for a move abroad outlined

  • 11 years ago
  • Uncategorized

Anyone thinking of moving abroad should consider energy prices, inheritance laws, local politics and tax, one expert has claimed.

Writing for, property blogger Tahmina Mannan noted these four areas as being huge considerations for those thinking of making the move.

Where energy prices were concerned, Mannan explained that cold winters and escalating heating costs can send many Brits looking in the direction of sunnier climes. Despite how it may appear, however, Britain is far from being the most expensive for utility costs in Europe. Instead, that falls to Cyprus.

Next on the agenda was inheritance laws, with Mannan using France as an example. Over the channel, she noted, property will still fall into the inhertance tax net, even if the inheritors are not fiscally resident in France. As such, this should be a factor in deciding what kind of home to buy and how long a person can expect to live in it.

Where politics was concerned, Mannan advised prospective movers to gauge public opinion before taking the plunge. Election results and political powerhouses can determine not only the kinds of costs foreign buyers can expect to pay, but also wider sentiment towards them.

Last of all, Mannan considered tax.

“In today’s climate of austerity measures and economic problems, it is important that you stay on top of your tax planning so that you aren’t hit with any nasty, unexpected bills,” reports her as saying.

You should consult a tax specialist who can advise you on the country you are emigrating to or if you are buying an overseas property.

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