Live Your New Free of Financial Worry
Whether you move to a new country for work, retirement, or in search of a new adventure, you’ll encounter the same challenges all expatriates do. Finding your feet in a new culture, sourcing and adjusting to new living arrangements and work environments in a country that may seem alien to everything you have been used to and know can be intimidating—but your new financial circumstances don’t need to become an additional stress.
Carrington Asset Management Ltd advisors and our network of respected external international tax experts can steer you through the expat journey with bespoke, tax-efficient financial solutions that help you live the expat life to the fullest.
Maximizing financial opportunities overseas
Planning Your Expat Journey
Moving to a new country can seriously affect or derail existing financial plans. This is why contacting Carrington Asset Management Ltd plenty of time ahead of your departure can make a massive difference to the ease with which you settle into your new life abroad.
Without a robust plan in place before departure, you could miss out on the opportunity to maximize growth during those years of your career spent abroad. Before you move, the Carrington Asset Management Ltd team will discuss your financial situation, get to understand your financial goals, and agree on a risk profile that is appropriate for you and your family.
We’ll then create a customized financial plan that provides broad oversight of the many aspects of living abroad, ensuring you can smoothly settle into your new life.
While you concentrate on enjoying your professional and personal life overseas, we dedicate ourselves to adding value to your new life in a foreign country with our services mentioned below:
Wealth and Portfolio Management
Moving overseas often provides expats with additional opportunities to invest their surplus income. Without proper planning, this can sometimes be challenging to do well. Carrington Asset Management Ltd has experience helping expats invest while away from home and maximizing available tax advantages.
Education Expense Planning
While overseas, you will undoubtedly want your children to continue to receive the same quality of education that you are accustomed to. It may be that your children stay in your home country to continue their education uninterrupted, or you may decide it is best to enroll them in one of the many good quality international schools. Choosing the best path for your children takes some forethought and planning before you move.
As an expat, you should be aware of all the tax benefits your home country’s retirement vehicles may offer. Alternatively, it may not be possible to continue paying into a pension in your home country. Still, you will want to avoid having pension pots in many different countries, so you will probably need help finding out how you can still fully contribute towards the retirement you want to eventually enjoy.
Adapting To Your Lifestyle
It may be that your initial plans were to move to a new country for a couple of years or so and then return home. In our experience, we have seen that many expats find new opportunities come along when abroad, and they sometimes find themselves overseas for longer than they originally planned, perhaps even in several countries. As you move, it is easy to find yourself with assets, investments, savings, pensions, etc., in several countries and different currencies. Carrington Asset Management Ltd can help you ensure your money is working the best for you, wherever you may be living.
Another area that needs careful consideration is tax. It may be that you still have obligations in your home country, or your actions overseas affect your filings at home. Carrington Asset Management Ltd works with several international tax experts to help ensure you don’t find yourself with unexpected liabilities and that you are making full use of any available allowances.
When the time finally comes for you to return to your home country, further re-adjustments will be needed. While you concentrate on re-establishing your life, we will review and adjust your financial plans accordingly. There may be a need to consolidate or transfer overseas investments, savings, or pension plans.