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Research is something that you can probably never do too much
of, especially when moving abroad. However, we all have our limits and can only do so much. We
focus here, therefore, on the key principles and the areas you
should concentrate on.
| When, planning to live abroad, one key component is that you should always try to research the area(s) you are considering moving to in person. If you do our
Criteria exercise on the
Making the Decision page, you should go to see how well your
potential locations match them. It's all very well looking on
the internet but there is nothing as effective as going in
person to see what places are like. |
Whilst you are there, talk to other people who may have moved
from other countries, friendly locals and your local estate
agent, if you have one. If you want to get in touch with a
reputable local agent to help you with your research when moving
abroad, go to the
Federation of Overseas
Property Developers and Consultants (FOPDAC) and click on their A to
Z list of members. Or you can try the
Association of International
Property Professionals (AIPP), who provide a similar
service.
Some of the things that you should research whilst you're there,
depending on your criteria, are as follows:
- Are there any local taxes that you need to take into
account in your budget?
- What are the transport links like? (Remember that you
might need local transport if the car goes wrong.)
- How good are the local shops and services, such as
garages etc?
- If you don't speak the language, do the locals speak
English?
- Are there any facilities for learning the language?
- Are there any new building projects, such as new housing
developments or roads planned? if so. will they encroach on
you in any negative or positive way?
- What are the local medical arrangements?
- Will there be plenty of the things that you like doing
available to do?
There are also things to research back in the UK:
- Will your state pension be payable in the country to
which you are moving and, if so, will it increase each year
in line with inflation? Go to the
DWP website
to see how you can get more information on
this.
- Are there any taxes that you need to find out about? It
may be that the country will have agreements with the UK
that might even work in your favour. For example, in France
there is the UK/France Double Tax Treaty that might help
you. Have a look at the
Institute of Chartered Accounts to start your research.
- What are the succession laws in the country to which you
are moving? You need to know so that you can decide what to
do about your will.
- How does Inheritance Tax work in the country of your
choice? Again, you might need change your will to make the
most of them. Your overseas property will be subject to the
IT regulations of that country.
- Keep abreast of all the recent news about conditions in
the country to which you are thinking of moving. For
example, in April 2007 there was alarming news about a
suspected house-price crash in Spain. In Germany, on the
other hand, at that time, it was very much a buyers' market.
Now that you have read this page, click on the links in the
page to see those pages you haven't yet read. It is important
that you see the whole picture.
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