Tax and accounting rules, regulations and laws are often very confusing for people in their country of residence before they even contemplate moving to Expatland. This is exacerbated when you move to Expatland and your financial affairs are spread across two different countries. Even if you don’t outsource your accounting and tax needs to a specialist at home, you should seriously consider it when you make your move to Expatland to make it easier, and to avoid any financial losses or penalties.
Having assets in multiple jurisdictions, and having your income from Expatland potentially being taxed both there and in your home country, means you need to give serious consideration to tax-effective strategies to ensure you don’t pay more tax than necessary in either country. More importantly, you need to ensure you are not paying less tax either in Expatland or your originating country, and exposing yourself to severe financial penalties. There are many different options and structures that can be utilised with consideration of your specific situation, as will be advised by a local expert in Expatland.
Our local E-Teams can introduce you free of charge to established and experienced tax and accounting professionals wherever you are moving to in Expatland.
Moving house within a city is one of life’s more stressful undertakings. So imagine adding thousands of kilometres across international borders to your relocation. It’s more than just packing, shipping, and unpacking at the other end. You may be faced with visa and immigration requirements to ship your belongings to a new city, or import duties if you haven’t applied for the right exemptions for personal property being moved through international ports to your new home. Managing the timing and logistics of an international relocation can be a very complex exercise.
When deciding on a company to help with your relocation there are some important factors that you need to consider. Are they part of a global network, which helps ensure they can coordinate and manage your move from start to finish? Are they relocation experts, not just movers? On that last point there is a big difference – international relocation specialists can help with language and cultural issues, help find suitable schools and track all important milestones during your move to Expatland.
Our local E-Teams can introduce you free of charge to established and experienced relocation and shipping professionals wherever you are moving to in Expatland.
International commerce and trade have never been more open or frictionless. And free movement of people between countries, such as within the European Union, has also become much easier than it was in the past. But most sovereign nations have their own rules, regulations and laws relating to people establishing residence in their country, and these are often extremely complex. Even with a job waiting for you from a local or multinational organisation, that meets relevant immigration criteria, you need to ensure you have your paperwork in order, in time for your move.
There can be added complexity if you are establishing a business in Expatland, or moving your family (and pets) with you. If any of your required documentation is missing, incomplete or not ready in time, you may find yourself unable to leave for Expatland. Even worse, you may find yourself facing deportation after you have arrived and settled. Getting this right is probably the most important part of your relocation planning, so start the process early, and use a local professional who understands the requirements for expats moving to their city or country.
Our local E-Teams can introduce you free of charge to established and experienced visa and immigration professionals wherever you are moving to in Expatland.
One of the most important decisions you need to make for you and your family when you are preparing to move to Expatland is where you will live. Even if your business or employer will provide short-term accommodation (such as a serviced apartment) for when you arrive, establishing a home in your new city will make your life and lifestyle so much better. There will be many choices of what area you might like to settle in, especially in large, international cities.
Whether you plan to lease or purchase a home in Expatland, it is a big decision with a lot of implications. Where you work, how you will commute, where your children will go to school, and local dining and entertainment options are all factors you will need to consider. You might also want to know where other expats live in your new city, which may guide your own decision. A local expert who has experience working with expats and understands their unique needs can be a big help in finding you a home in Expatland.
Our local E-Teams can introduce you free of charge to established and experienced property and real estate professionals wherever you are moving to in Expatland.
One of the best things about moving to Expatland is immersing yourself and your family in a new and different culture. It is an amazing experience that is educational, enlightening and immensely enjoyable. But it can also be difficult to understand and embrace local culture, customs and beliefs in your new city and country. First and foremost is the language barrier. Many places in Expatland will use English, particularly as the language of business. But in some places the local language is preferred, with expectations that expats will make an effort to learn the language.
Besides language, aspects of the local culture can be very important to how you adapt to Expatland, and how you are welcomed by your new community. For example, understanding things such as cultural norms and practices, local behaviours, etiquette (in life and business) and communication techniques can help you avoid offending local sensitivities and making faux pas that could put your expat tenure at risk. Local experts can help you learn the language of Expatland, and the cultural norms that will assist you in settling faster and more comfortably.
Our local E-Teams can introduce you free of charge to established and experienced professionals who can help you understand the local language and culture wherever you are moving to in Expatland.
Your health and wellness is important no matter where you live. But it can be especially important when you move to Expatland. While there’s never a good time to get sick or unwell, it can be particularly unpleasant if you are newly arrived in Expatland and find that local healthcare is of lower quality than your home country, or is much more expensive than you expected. Having a good local doctor and dentist for you and your family will provide peace of mind, and valuable assistance in the event you urgently need medical care.
You will also need to consider medical and health insurance, as policies, payments and rules regarding treatment of expats differs significantly between countries. Your employer may or may not provide medical insurance, and their policies can differ between the various countries in which they operate. Consider also prevention, which is much better than cure. Join a gym, participate in team sports (making new friends along the way) or start a meditation practice (very helpful to deal with the stress of moving!). Staying healthy, and knowing you are covered in an emergency, will make your experience in Expatland much more enjoyable.
Our local E-Teams can introduce you free of charge to established and experienced health and wellness professionals, in a range of important fields and disciplines, wherever you are moving to in Expatland.
E-Team Group Leader
Founded in 2002, Daehyun Accounting Corporation is supported by experienced accounting professionals servicing international SME clients. Their strong capability of conducting international practices makes them the ideal partner for expats moving in and out of South Korea.
Daehyun Accounting Corporation is a member of the global accounting network, Kreston International since 2003.