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.
Our repatriation team are dual-qualified and have a vast amount of experience to help our clients move home in the most hassle free, tax-efficient and simplest manner.
Check Your New Tax Status
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.
Review Your Investments
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.
There are also a number of key things to consider that will require action locally:
Have you tied up loose ends such as bank accounts?
Whilst it’s not a requirement, it’s probably prudent to close any local bank accounts to stop accruing charges.
Are you selling a property overseas?
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.
Health and life insurance?
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.
Return Home Without The Hassle
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.