A collection of must read articles to help those starting a new life abroad.

Brought to you by Which Offshore

How far will your money stretch when you start a new life overseas? In 2011 149,000 British citizens decided to leave behind the flagging economy, the uncertain summers and the crowded city streets in search of a new way of life overseas. As the job market declines, the expat population is increasingly made up of those who have extended the reach of their job seeking efforts not just across counties, but across oceans and continents. 80,000 people left the UK looking for foreign employment, 50,000 of those having already secured positions before leaving. Whatever the reason for moving abroad, working out your living expenses before you arrive is vital. Without an idea of how much it will cost to keep yourself and your dependants afloat in your destination country it can be difficult to gauge how good of an offer you are receiving from potential employers. It is also very important for those living on a fixed income, pensioners for example, to know how far their money will stretch in their new homeland. What might be a suitable amount of cash with disposable income to spare in one country could leave you unable to pay your bills in another. With this in mind we have put together some helpful information on the cost of living in the most popular locations for British ex-pats. All cost information is sourced from Numbeo.com. 1. Australia Certain parts of Australia are known for their high cost of living, especially the large cities like Sydney and Melbourne. This however didn't stop more British expats moving to Australia than any other country. The all year round sunshine, the fact that 85% of the population live just a short distance from the beach and the similarities between British and Australian culture are just some of the things that could be drawing expats in. The cost of living however is almost definitely not one of the countrys most enticing factors. With a meal for two in an inexpensive restaurant costing almost 21, internet connections costing almost 42 a month and basic one bedroom housing in a city centre setting you back as much as 1,400 a month a modest lifestyle in Australia doesnt come cheap, let alone a luxury one. One British expat who toured the country in hostels and dorms before settling on his final location was shocked by the cost of living, saying that One bed in a dirty hostel room for a week is more than a months rent for a whole house back home. Those hoping to spend a lot of their time in the some of Australia's many mega-malls may have to rethink, as branded goods can cost almost twice as much as in Australia as in other parts of the world. A pair of Nike trainers in Australia could set you back as much as 103 compared to around 60 in the UK. 2. USA Many who decided to move from the UK to the USA provide the country's diverse range of opportunities as a key selling point. One example of this is the geography, which allows one to visit tropical beaches, bustling cities and beautiful ski resorts without ever having to leave American soil. The cost of living in America can be as varied as the lifestyle, with some items being very expensive and others being very cheap. Something that you will notice straight away is the cost of gas, which can be bought for as little as 0.66 a litre. This puts to shame the comparably huge 1.38 we in the UK pay.

In contrast to Australia, the price of rent is incredibly low at only 602 per month for a one bedroom city centre apartment. Shopping is also very cheap in America, with our comparable pair of Nike shoes costing only 50. At the other end of the spectrum are imported goods which tend to be quite expensive; foreign beers and wines sell at a premium. The cost of basic utilities, such as electricity, is also high compared to other popular expat locations like Spain and Cyprus. 3. Spain Spain is another mixed bag, where most of the essentials are very cheap but additional luxuries can quickly swell the cost of your lifestyle. Rent is incredibly cheap in Spain, with a one bedroom city centre apartment costing as little as 430 a month and utilities only adding an additional 80 a month to the cost of your living quarters. Groceries too are very cheap in Spain with a basic midweek restock of apples, potatoes, milk and bread costing 3.53 compared to 4.87 in the UK. Beers and wines are also sold at almost half the price. However, it isn't all good news in Spain as the cost of driving is very similar to the UK, with cars actually being on average 2,000 more expensive to buy. Luxury goods and leisure activities are also priced in a very similar way to the UK. This makes Spain an ideal destination for those looking for a simple or rural lifestyle, enjoying good food, great wine and the sunshine, but less suited to those who are accustomed to modern luxuries. 4. Canada The desire to live the best of both rural and modern lifestyles drives many British expats to Canada, which is known for its modern cities nestled amongst stunning scenery. Unlike other countries mentioned on this list, some of which have high costs of living but low costs for luxury goods and vice versa, Canada is a good all-rounder where most things are only marginally cheaper or more expensive than in the UK. Branded luxury items are only slightly more expensive, with the comparable pair of Nike shoes only costing 3.40 more than in the UK. On the other hand accomodation and utility costs are slightly cheaper, with a months rent (one bed inner-city apartment), utilities and internet costing 765 compared to the 810 you would have to pay here. It is worth noting that unlike most countries, Canada has a national health service comparable to our own, so the cost of medical insurance and healthcare will be next to nothing. Another area in which you will make savings is the purchase of petrol, which costs only 0.82 a litre due to the countrys proximity to America. Overall Canada is the easiest country to determine your living costs for, as all things considered it will usually be very similar to the current cost of living in the UK. 5. Ireland For those looking for a shorter trip for themselves and their belongings, Ireland may make for the perfect destination. However, in terms of living costs many items are actually more expensive to purchase here than in the UK. This is most noticeable when looking at the costs of public transport in the up and coming country. This is something which is sure to grind with commuters heading towards Dublin, which has become a prominent business centre in recent years. A monthly pass for public transport around the city can cost as much as 96 in Dublin, compared to only 56 in the UK. Groceries are also very expensive, with our previously mentioned midweek shop costing 5.13 compared to 4.87 in the UK. However, the boom of foreign investment into cities like Dublin and the increase in cheap and available new housing has increased the average disposable income, partially compensating for the higher prices.

The worlds biggest culture shocks Moving abroad always presents a host of challenges. One of these is adapting to a culture and lifestyle which is very different from the one you may have grown comfortable with at home. Even if the want for a change of surroundings is what drove your abroad in the first place, a whole new home nation often brings with it a huge culture shock and those who are not prepared can have extreme difficulty adapting and integrating with their new communities successfully. The best way to avoid this alienation is to do your research before you arrive in your new nation. Knowing what to expect and having given yourself the time to mentally prepare before you arrive really is key to successful integration. With this in mind, lets take a look at culture shocks in some of the most popular expat and holiday destinations, hopefully it wont make you change your mind! Beijing One of Beijings most overwhelming factors is the sheers busyness of the capital city and even those living in the likes of London will struggle to adapt to this. The most recent statistics stated that Beijing has a population of 19,612,368; however this is likely to have risen considerably since the 2010 research. The growth rate has been at an average of 10% per decade and experts believe that population will reach 25 million by 2020. Another huge issue in Beijing is pollution and the city is often covered by a thick layer of smog. Preparation is certainly key to adjusting to Beijing life and it is recommended that you take a trip there prior to your relocation. However there are plenty of great guides out there, such as those offered by Whichoffshore and Internations. United Arab Emirates (UAE) As a strict Muslim country, the UAEs customs and laws are vastly different to those of the UK and failure to adhere to these can have dire consequences. You could face severe penalties for something that would be deemed ordinary at home, so it is wise to familiarise yourself with customs and laws before moving to or even visiting the UAE. You should be aware that you will require a permit to drink alcohol and that even then, alcohol will not be widely available. Female visitors to the UAE must dress appropriately and cover both their arms and legs. Be aware that swearing and rude gestures can result in time spent in jail or even deportation. Sex before marriage is also prohibited and if you are found guilty of doing so then the consequences will once again be severe. South Africa A huge culture shock for those moving to South Africa is the crime rate in their new home and crime is, in many ways, engrained in South Africas history. Between 1975 and 1982 there were 4,400 crimes per 100,000 people and this rose to a staggering 5,747 between 1982 and 1993. Despite a dramatic fall in the murder rate since this time, crime remains rife in the African nation and should be a huge consideration for anyone travelling to South Africa. Conviction are also a huge issue and remain low. Many residents view the police force as inadequate.

Cairo One of the biggest shocks when it comes to moving to Egypt is how cheap it is and this is certainly applicable to the capital city. Living costs are extremely low, as you can see here, and considering that 1 equates to almost 10 Egyptian pounds this is certainly a welcome shock! However Cairo is another extremely busy city and this is often evident in the sheer number of cars crammed onto the roads at once. When I last visited Cairo there was 7 lanes of traffic and there was only meant to be 3! It is also quite odd that you can see the pyramids from Cairo, as many visitors often picture them in a far away desert. Any country comes with cultural differences but these are some of the most extreme and highlight the need to be prepared. Israel What shocks most people about Israel is the high level of security found in and around the cities. From the huge number of metal detectors and search points found at the entrance to all public places to the overwhelming amount of military hardware and personnel you will see on a daily basis, it is difficult to not let it put you on edge. Another cultural curiosity is the Shabbat, the Jewish holy day which takes place from sunset on Friday through till Saturday evening. When the Shabbat is taking place almost all shops will be closed and public transport will stop running. To ensure you arent caught off-guard by this, ensure you have done all the shopping and travel you need to do by Friday evening.

Then and now: The Changing Face of UK Emigration Since the 1960s the motivations and demographics of those who are emigrating to start a new life as a British expat have changed dramatically. Once solely the territory of the wealthy or retired, the 21st century has seen a rise in the number of unemployed young people leaving the country, desperate for work abroad even if it means leaving their family and friends behind. This is a change in behaviour that is already having a profound impact on countries like the Republic of Ireland, who lost nearly 1% of their entire population to emigration in 2010. Many cite the reason for this as being a lack of prospects for young people. This lost generation of 18-25 year olds grew up during the economic boom, but finding themselves with little opportunity for work are now noticeably absent from many Irish communities. This isnt a problem isolated to Ireland though, as many youngsters from the UK have also begun to look overseas for employment. Expat finance publication Which Offshore have started to notice the change in emigration trends. W e have certainly seen a marked increase of interest from young people in recent years. Expats tend to be getting younger and younger, with globalisation's insatiable march causing companies to target rapid expansion overseas creating opportunities for skilled young people that are difficult to come by in the UK. While it is often difficult to put an exact figure on the number of Brits leaving the UK each year, recent Office for National Statistics information suggested that over 3.5 million people permanently left Britain between 2001 and 2011, with nearly two million of those being between the ages of 25-44. With this in mind, UK policy makers should surely be scrambling to find out why this is happening in a bid to retain as much of the countries young talent as possible. Many of those who are in the process of moving abroad or have moved abroad recently have strong views on the subject. Jack Buckingham, a 19 year old British expat in Australia, felt unable to find acceptable employment in the UK despite his additional education. My motivation for leaving the UK was that I had finished college with a diploma, yet I was still stuck working behind a bar. Although I'm still in the same line of work here, hospitality seems to be a lot more respected and less of a self- loathing industry. The pay is also much much higher in comparison Some of the young people we spoke to believed the UK was institutionally mistaken in their attitude towards the employment of young people. I think that our society has been brainwashed into believing education unlocks all the 'doors' in life. In my opinion you have to actually have the skill as well as the knowledge to deserve an opportunity. Elsewhere in the world you get employed as a carpenter for being good at carpentry, but in England you get employed based on your paper qualifications. These don't necessarily reflect your actual ability to do a job well. Other countries seem to value tangible evidence of skill, whereas British employers tend to place more weight on the opinion of other institutions, ignoring their own instinct, says Ashley Hudson, a young college leaver planning to move from the UK. The impact this is already having on Britain's economy can be seen when looking at

reports from businesses who specialise in sending money abroad. who state that they have seen a push away from rich foreign property buyers in recent years. Foreign currency broker Currency Index has reportedly sent over 30 million abroad over the past six months. They also state that they have seen a push away from rich foreign property buyers in recent years. Michael Statham, a 23 year old computer science graduate who has recently moved to Australia, believes that that a weak pound will encourage even more young people to move abroad. I think most young people's reason for coming here is the crazy bloated currency, where you're fairly rich within the country and even richer abroad. GBP to AUD is worthless but AUD to GBP or anything else is much more valuable. Combine that with a minimum wage that works out at around 25k a year for full time employment and you have a very attractive proposition.. Some also state that they have simply become jaded with the lower points of British culture. I'm excited to leave behind the yobbish alcohol culture in Britain. In Dubai no one behaves that way, they would be deported instantly, said recent journalism graduate Paul Carret. He also added, modern connectivity helps to ease young people's fears of moving abroad. I wouldnt have moved if I was born 25 years earlier as I wouldnt be able to easily keep in contact with friends and family. The world has got a lot smaller The easier transition that todays generation of young expats enjoy is in stark contrast with those who emigrated from their home nations in the 60's and 70's. Gordon Barlow, an Australian expat and blogger who travelled extensively before settling in the Cayman Islands in 1978, spoke to us about his experiences then and now as well as how an influx of young expats have changed foreign communities. We were in the vanguard of the tax-haven expats, and we were very much big frogs in a little pool. New expats arriving now, find themselves in a well-settled communities. Here in Cayman there are 30,000 expats, but I don't have all that much in common with most of them; they're too young. Gordon also made a comment which makes it clear how modern technology has made young travelers less likely to reconsider their relocation plans out of consideration for their loved ones: I asked my mother in later years was she frightened whilst I traveled, and she said that there was no point in being frightened. All she could do was wait till my next letter, and know that at least I had been alive two weeks ago when I wrote it! As changes in technology, economy and ease of international travel align to create the perfect environment for youth emigration, only time will tell how the UK will be affected in the long run. If the UK wants to retain its pool of talented young adults it will need to not only ensure that young people are in work, but that those jobs offer opportunities for young people to progress and use their skills in a way that helps bolster their self-esteem. It seems that change is needed, and quickly, before an entire generation packs their bag and leaves to seek a better way of life in the sun.

The Best Five Ways to Identify a Bad Offshore Investment. If the right person makes the right investment at the right time, we all know that riches will surely follow. From Asa Candlers purchase of the Coca-Cola business in 1891 for $2,300 (the equivalent of $57,875 today) to Peter Theil's early $500,000 investment in Facebook which eventually netted him over $400 million return, it is usually success stories like these that bring people into the world of investment. But what about when it goes the other way and your precious investment takes a hit? It's certainly not unheard of. The $20 million invested in DigiScents, a company that hoped to make the web a stinkier place, will certainly never be seen again. But don't despair! There are some simple questions you can ask yourself before investing that will go a long way to making sure your financial future is put into the right hands. 1. Is the investment good for you personally? Every person is different, and so by extension everyones investment goals and criteria are different. With this in mind it is important to not take investment tips from friends and peers at face value; what may seem like a good investment to them might be totally unsuitable for you. This could be because of an overly long maturity period or restrictive rules regarding how much of your money you can withdraw from the fund in a specified period. A good investment is one that balances the investors willingness to take risks with their ability to absorb losses. 2. Do you understand it? This one seems simple enough, but you wouldn't believe the number of people who are happy to send their entire life savings overseas, without even being able to explain why they did so or how it works. The litmus test for this is as easy as sitting down with a friend and explaining it to them in the same way that your financial advisor explained it to you. If you find yourself struggling to remember the facts or, even worse, bluffing the parts you arent sure of, then it is a sure sign you need to go back and talk to your FA. If after that you still can't fully explain the scheme then you can be almost certain that the investment isn't right for you. 3. Do you understand the charges? What are the annual fees? What is the exit fee? What impact will the charges have on the results of the investment? More important than understanding how the scheme or investment works, is understanding how your actions could affect your potential payout at the end. For bond based schemes early removal of your funds could result in large charges or taxation and could also effect the rate of interest you receive. You also have to take into account potential bond charges. These are sometimes up to 1% or 2% per year as well as a 4% up front fee and an annual fee of, usually, 400. All things considered it is often unwise to make small investments offshore, and many advise that a minimum of 50,000 should be invested to offset investment charges. 4. Is the investment suitable for the term you are investing for? If you are currently living in the UK but intend to move abroad in the near future, you will probably want to start moving your funds to offshore investments. However, it's very important to take into consideration the amount of time your funds will be locked up in the investment. If you intend to move in two years but your investment doesnt allow you to withdraw funds in the first three years, you may have to delay your plans. Inversely, if you tie up your funds in an investment with excellent returns over 5 years but you are actually looking to invest for 20 years, you will have made a mistake. Luckily, when will you want your money back? is usually the first thing a competent

investment advisor will ask you, ensuring that you make the right decision and , more importantly, can cash out at the right time 5. Where is the fund incorporated and in which jurisdiction is it based? The relationship between your country of residence and the jurisdiction you are investing in is very important. If you end up with the wrong combination of locations, you may be taxed twice on your earnings, once in the jurisdiction they are generated and once in the jurisdiction you are physically based in. It is also important to avoid jurisdictions with withholding tax schemes, where tax is paid to local and foreign governments out of your earnings before they even reach your pocket. With the above in mind you are now more equipped to identify the telling signs of a bad offshore investment than you were ten minutes ago, congratulations! However, all the web research in the world can't substitute the 4-5 years training that qualified financial advisers must go through to get their licence from the Financial Services Authority. For more information and to be put in touch with a qualified advisor, visit Which Offshore today.