Anyone planning to emigrate should seek financial advice before they go to ensure that they make the most of the tax free savings and investment options that will become available to them, it has been suggested.
Rhiannon Davies, director of ShelterOffshore.com, explained that people who are moving abroad will have different financial needs.
She said: "Certain expats can take good advantage of the wealth of offshore savings and investment schemes that there are available."
Ms Davies added that once people have lived outside the UK for a certain period of time, people loose out on the tax advantages offered by things such as individual savings accounts and pension schemes .
For this reason they might want to look at alternatives such as qualifying recognised overseas pension schemes, she concluded.
According to the NatWest International Personal Banking Expat Wealth Ranking Survey, those who move to work abroad could see up to a 43 per cent increase in their salary.
Seek advice over investments, expats told
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Seek advice over investments, expats told
Wed, 23 Apr 2008
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