More Brits Choose To Save Money By Moving Abroad

Published on 21 August 2007
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After one of the wettest summers in many years it’s not hard to see why many Brits say that they’re moving abroad for better weather, however weather aside more and more Brits are moving abroad in order to save money.

With careful planning by choosing the right location and getting your finances in order before leaving UK it is possible to enjoy a far better quality of life abroad than you could for the same money in UK. This is why many people who have restricted incomes such as retirees choose to move abroad, they have no way to increase their pensions so they move to locations where the pennies go that much further.

If you’re planning to move abroad to reduce your bills and to save money there are many ways to do this, read on to find out more…

Pay Less Tax

Many countries offer very attractive taxation rules for foreign property owners especially retirees, oh and don’t think traditional 65 years old retiree; countries such as Belize will happily take you in as a retiree as young as 45 years.

Panama even wavers all property tax for a period of 20 years, add that onto a zero tax rate for all money you earn or receive outside of Panama and that can prove a very attractive proposition to retirees who may have a large amount of tax to pay if they stay in UK.

Moving Abroad To Get On The UK Property Ladder

Yes that’s correct you could actually move abroad for a period of time to get the money you need to get onto the UK property market. Let’s say you’re a skilled worker in finance, business administration, medical fields or information technology, you could make the Dubai move!

Dubai is always seeking skilled expatriate workers as more and more companies relocate to this sophisticated international tax haven. Most British expatriates working in Dubai receive the same income or even more than they would in UK but totally tax free. If you plough this tax free saving and as much capital as you can into a short term qualifying investment you will be able to return with a substantial tax free lump sum to put on a UK property.

Most people agree that the UK market isn’t going to be quite as dynamic over the next few years, so now may be the perfect time when investments can potentially out pace house price inflation.

Lower Your Cost Of Living

Many of the World’s most beautiful locations are considerably cheaper to live in than the UK, keeping within cheap flight range of the UK, Turkey has some of the most stunning coastline in the World with friendly people who are happy to welcome newcomers, they will introduce you to their local markets where you can buy your weeks groceries for up to 80% less than you would pay in UK for similar produce.

For the more adventurous Brazil, Argentina and Uruguay will all make your UK pound or US dollar go a lot further than it ever would back home. 

By combining as many of these advantages as possible, tax free, low cost of living, lower property costs etc. you can lift the cap off of a restricted income such as a pension and enjoy the retirement that you always promised yourself, and saying goodbye to bad weather in the process.

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