Before taking the journey of financial fruition abroad, We are sure you’re wondering why you’d even want to do so in the first place – or where you’d start the process. Before we can help you with your move abroad, let’s dig into the why and how of the whole endeavour.

WHY?

Why should you expatriate? Expatriating offers many benefits to investors that are both good for your finances and can offer an invaluable cultural experience. Expatriation may involve relocating to a jurisdiction like Switzerland, Monaco, Dubai, or Singapore. These jurisdictions are usually preferred for their low tax rates, safety, and investor-friendly environments.

By renouncing citizenship, you will no longer be subject to the tax laws of your home country and can enjoy life without the hassle of being taxed on money that you may not even be making in your home country. When expatriating, you may be required to pay an expatriating tax, like in the U.S., but that will be pocket change compared to what you’d be saving over the years.

You have the opportunity to achieve both personal and financial liberation overseas by tapping into new and developing sectors, and developed areas of investment, allowing and encouraging you to diversify your portfolio.

In terms of financial planning, expatriating can be a lucrative step in a fiscally responsible retirement. Cost of living, tax benefits, and quality of life are all reasons to spend your retirement years abroad. At ATAdel Fund , we are well versed in the financial planning that goes into retirement. A good retirement plan takes years of careful saving and sound investing in order to live a carefree life after paid work. By spending your retirement abroad, you are allowing yourself to obtain the most out of all the work you put into saving.

Many countries boast low costs of living. When it comes to retirement planning, you may be able to fit in a more active lifestyle when the cost of an apartment or home can be as low as one-third of what it may cost in popular retirement areas back home. Don’t take a hit to your lifestyle. Retirees that moved abroad have found that they’ve been able to live a life that they never thought they’d be able to because of how expensive it can be.

Expatriating doesn’t just have to be a good idea for your wallet. In the realm of your personal life, expatriation allows you to find the lifestyle that works best for you. Different parts of the world offer a variety of climates and environments. Central America offers a warm climate all year long, while many countries have picturesque coasts, mountains, forests, and more.

HOW?

Each country has its own rules and regulations when it comes to moving in. Some options include residency and citizenship that can be both temporary and permanent. Expatriation may involve acquiring a new passport and renouncing a citizenship. Acquiring a new passport or citizenship allows for various investment opportunities, as well as opportunities for travel.

The power of a passport is determined by how many countries you can enter visa-free. For this reason, EU passports, as well as passports from various Caribbean Islands, have been very popular in recent years. EU passports are especially popular because it allows for easy travel and investment in many European countries.

Each country has its own process of acquiring residency or citizenship, but some are easily gained through investment, each offering different options and perks in terms of investing, starting a business, and tax benefits. To gain citizenship via an investment, the government may require you to invest a certain amount of money into sectors that could create jobs for the native residents.

Making investments overseas for residency purposes would be like killing two birds with one stone. You diversify your portfolio while gaining the residency you need to escape high taxes and high costs of living.

If you plan on working in your new home country, you will also need the proper permits and papers in order to do so. This step can take quite a bit of time and careful planning, often requiring assistance from a professional.

For retirees, there are even programs for those looking to obtain a residency that is granted by just having a certain amount of income or proof of sufficient savings that can support a life in that country. Some can be as low as only $2,000 a month. Many retirement programs don’t require you to renounce your home citizenship, so visiting friends and family at home would be quick and easy.

Taking the leap and leaving your home country can be a big decision with tons of personal and legal steps. The hassle of navigating the legal process of expatriation can be reduced with the guidance of ATAdel Fund. Each step requires assistance, including getting the passport, making sure everything is completed correctly regarding taxes, acquiring work permits, making investments, and more. No matter what expatriation route is chosen, it can be a powerful tactic to allow clients to gain better control of their financial and personal lives.