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Planning for a future overseas

Hi,
I'm a british citizen, I'm 30 years old and I run my own ltd company. 
I earn and save, but I'm still renting with my partner. I have not opened a lisa or something similar as I don't see myself living in the UK long-term, I've wanted to move overseas for a long time, where? I'm not sure, through travelling I'm trying to figure that out.
Should I be doing something with my finances to help this? While I have the idea, I've not planned for any of it, any advice would be appreciated!
Thanks

Comments

  • Boat_to_Bolivia
    Boat_to_Bolivia Posts: 1,110 Forumite
    1,000 Posts Second Anniversary Name Dropper
    edited 13 December 2022 at 9:18PM
    You want to live overseas, but no idea where?

    I'm not sure how anyone can help, other than say just save for your move to wherever it may be?!


  • bostonerimus
    bostonerimus Posts: 5,617 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    edited 13 December 2022 at 10:00PM
    You must realize that moving overseas will require some sort of immigrant visa (apart from Ireland even after Brexit). If you have lots of dosh there are some countries where you can buy your way in and some that offer retirement visas. It  helps if you have an offer of a job and an employer to sponsor you or enough money to set up a business and employ local people eg a US E5B visa lets you live and work in the USA if you invest $1 million  in a business.
    “So we beat on, boats against the current, borne back ceaselessly into the past.”
  • Hi

    I've been living in France now for over 25 years. We're hoping to move back to the UK in a few years.

    One piece of advice I would give is that you should open several UK bank or building society accounts before you leave the UK. Because once you've left, you'll find it virtually impossible to open a new UK account.
    You may also have heard that some banks (e.g. Barclays) have been contacting account holders living in certain EU countries to tell them that their accounts are being closed. So that's another good reason to spread your sterling around several accounts - in case some are subsequently closed.

    Another point to bear in mind is that you can't continue to contribute to a UK ISA once you're no longer UK resident. 

    I don't know whether you own a house in the UK. We have had very good experiences with renting our UK home out, using a full management contract with a lettings agent who was personally recommended to me.
    You might think now that once you leave, you'll never want to come back but honestly, you never know. It's not uncommon for Brits wishing to move back when they're getting older or lose a spouse to find themselves priced out of the market because they sold their UK property and prices in the country they moved to haven't kept pace with prices in the UK.

    My last word of advice would be to do lots of research into the country you're planning to move to. The relevant country section of BritishExpats.com is full of invaluable information from people living there. From reading the Spanish section, for example, you'll discover that there's no procedure in place for holders of UK driving licences to swap their licences for Spanish ones, meaning that if they want to drive in Spain, they'll have to sit a Spanish test at some point.

    It's also worth reading the "Moving Back to the UK" section, where you'll see that moving back brings its own set of headaches, some of which could have been avoided with a bit of forward planning.

    None of this is meant to put you off, by the way. If nothing else, you'll have an adventure. 



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