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The ‘wheres’ and the whys of UK expats in Europe

Among the most surprisingly popular destinations are Czech Republic, Slovakia and Finland (each of these countries is home to 5,000 or more UK expats).

Why do expats become expats?

You could be forgiven for thinking that migration is only a recent trend – one that reflects the “increasingly globalised world we live in”. However, although you would be right in assuming that the rate of migration has increased in recent years, the fact remains that humans have been migrating ever since our ancestors left the savannahs of Africa around two million years ago.

In reality, it is just much easier to achieve nowadays – the benefits of modern transport, the internet and expert expat financial advice are all pretty obvious.

And yet, it still takes imagination, as well as no small amount of gumption, to move from one’s country of birth to a place which may have only been visited for a few annual holidays. After all, it is so often easier to simply stick with the environment and lifestyle you know. MoveHub, a company specialising in helping expats make the move, analysed more than 180,000 of their customers’ experiences and discovered that the following were the major reasons people cite for deciding to embrace the expat life:

  • Better quality of life
  • Career progression
  • Economic pressure
  • Family ties
  • Lifestyle change
  • Politics
  • Wanderlust

Making the most of your brave new world

Whatever your motives, if you’re in it for the long-term and want to be assured of the best possible chance of future financial security for both you and your loved ones, the best way to achieve this is to receive expert expat financial advice.

So whatever the next few weeks, months and years bring in terms of whether the UK stays in the EU, Blacktower will remain by your side with all the most pertinent international financial advice that is right for you.

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

New Spanish Will Laws from 17th of August

Blacktower Financial Management

Many of our clients will have beside their property and / or bank accounts here in Spain still assets abroad.  This could be a property in the “home” country, a share portfolio in Luxembourg, an offshore bank account etc.

Most would have a Will covering these assets in their home country and without specific mention of the asset will have laid out their wishes in the form of for example “spouse to spouse on first death and on second death to the children” which would apply to all their assets.  

Should the person have not bothered taking on a Spanish Will then the heirs would have to go through the extra work and costs involved in relying on a UK or foreign will for the disposal of the Spanish assets.  The Will would have to be translated and apostiled adding delays and extra costs at a difficult time for the heirs.

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Do you have a Final Salary (Defined Benefit) UK pension scheme?

Is your final salary scheme safe?  Are you aware that many of these schemes are seriously underfunded? What is the exact deficit of your final salary scheme? Brexit and the BHS scandal have brought the pension deficit story in to the media spotlight again. However, the issues with defined benefit schemes have been brewing for some time. The UK faces a very real pension crisis with several schemes close to collapse unless serious steps are taken to address the growing problem.

Read More

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