Moving country, with the financial details in view

Step one

Build the move timeline first

Write down the dates that other people will also be working to: intended departure and arrival, visa or permit timing, a housing start, an employment start and end, a school term, a tax year, a property completion, an investment sale, a pension decision and any large transfer. They rarely land on the same day.

1. 6+ months before

   • Research
   • Residency
   • Tax
   • Schools
   • Healthcare
   • Housing

2. 3–6 months before

   • Applications
   • Documents
   • Banking
   • Insurance
   • Property
   • Employment

3. 1–3 months before

   • FX
   • Account changes
   • Transfers
   • Utilities
   • Travel
   • Provider notifications

4. Arrival

   • Local registration
   • Banking
   • Healthcare
   • Address
   • Tax number
   • Phone and utilities

5. First 90 days

   • Tax review
   • Investment review
   • Pension review
   • Estate planning
   • Insurance
   • Local credit

Different countries run on different timelines, so treat this as a planning framework rather than a legal schedule.

Banking

Confirm what happens to your existing bank accounts before you move

Account continuity, a change of address, savings, cards, credit, an overdraft and a mortgage can each be treated differently once you are no longer resident. Some providers restrict non-resident customers. Opening a local account has its own evidence requirements, and those requirements depend on the provider. Ask while you still have the documents and the address they already know.

Ask each provider

• Can the account stay open?
• Can I use the card abroad?
• Can I keep savings accounts?
• Can salary still be paid in?
• Does tax-residency information need updating?
• Does credit remain available?
• Do I need a local account?
• Can replacement cards be sent overseas?

• Expat banking
• International bank accounts
• Banking eligibility checker

Pensions

Pensions deserve their own review

Healthcare

Healthcare often needs to be arranged before the move is complete

Public healthcare, where newcomers can use it, may depend on residence, work or contributions. Private insurance, an employer plan and travel cover answer different periods. A visa can ask for proof of insurance. Family members and existing conditions need their own check. This page does not recommend a policy.

• Am I covered on arrival?
• Is insurance required for the visa?
• Does employer cover start immediately?
• Is family cover included?
• Do I need temporary cover?
• Does existing insurance continue abroad?

Work

How will income be paid after the move?

Local payroll, remote work for an employer abroad, sponsorship, a contractor arrangement and equity compensation can each change the currency you are paid in and who handles tax and social security. A bonus and an equity award may be taxed where you work, where you were granted them, or both. Employer obligations are the company’s question as well as yours.

Your right to live somewhere and your right to work there may be separate questions.

• Which payroll will pay me?
• Which currency?
• Does employer sponsorship apply?
• Can I work remotely?
• Does the employer need local registration?
• What happens to equity awards?

Succession

Moving country can make an old estate plan less reliable

Wills, powers of attorney, beneficiary nominations, property, pensions, companies and trusts can each sit under a different country’s rules. An executor who cannot practically act in the new country is a practical problem as well as a legal one. A review is a conversation with a qualified person, not a form on this website.

A will valid in one country may not automatically solve questions created by property, family or residence elsewhere.

First year

Some relocation consequences only appear later

A tax filing, a full-year day count, investment reporting, pension rights, the start of a local credit history, property you later buy, estate documents, visa renewals and any path toward longer-term residence often become visible after the first weeks. Rules vary by jurisdiction. Professional advice may be appropriate before you treat the first setup as finished.

Schedule a formal review after the move rather than assuming the original plan still works.

A sensible order

1. Step 1

   Fix the timeline

   Departure, arrival, school, work and any property date, written down before the details multiply.

2. Step 2

   Confirm the legal right to move

   The permission to enter, stay and, where it is relevant, to work.

3. Step 3

   Map tax-residency questions

   Days, a home, family and work. An adviser may be needed when more than one country could claim the year.

4. Step 4

   List every financial relationship

   Banks, brokers, pensions, insurers, an employer and property. The list is what you brief people with.

5. Step 5

   Secure healthcare and housing

   Cover and an address often have to exist before registration, banking or a school can move.

6. Step 6

   Plan banking and currency

   What stays open, what you open locally, and how larger sums will move.

7. Step 7

   Review investments, pensions and estate planning

   Servicing, transfers and documents that are difficult to undo in a hurry.

8. Step 8

   Review again after arrival

   Tax, day counts, renewals, and whether the plan you made before the flight still fits.

Due diligence

Questions worth answering before departure