Retiring overseas is becoming an ever more desirable option for those looking to settle somewhere where their money will go a long way.
If you choose well you can relocate to somewhere that is rich in culture, has a fascinating history, friendly locals and perhaps most importantly, is very affordable. For a fraction of the cost, you can maintain the fancy lifestyle that you have been looking forward to whilst slaving away behind your desk for 40 years.
If you plan on retiring somewhere within the EU then you have the major advantage that as an EU resident you do not require a visa for entry. If you wish to stay for an extended period you will need to follow certain guidelines to obtain residency.
The practical considerations of retiring abroad are plentiful. The most important things to consider are how you will survive financially, your health and your accessibility to important amenities and airports where you can catch flights back home when you are missing the grandkids a little too much.
Tax, Benefits and Pensions
Make sure you fully understand what your financial situation is before you take off. You need to address what to do with your pension, what your tax liability is and whether you are entitled to any benefits. Here’s how…
Health
Of course, your health is the most important thing to consider above everything else. This is why you need to guarantee that should you require medical attention, you have access to the treatment that you
Other things to take care of…
Your “to-do” list might seem uncontrollably long, but here are another couple of things that need to be dealt with that might have slipped your mind:
For more information about moving abroad, collect The Overseas Guides Company’s free ‘Emigration Guide’ by clicking here.
On a final note, if you are about to emigrate make sure you use a currency exchange specialist, such as Smart Currency Exchange, to transfer your pounds into your new local currency. Smart consistently offers better exchange rates than banks, saving you money, as well as a more efficient service. For more information on this, visit the Currency zone or download their free guide by clicking here.