When we think about leaving the country to live in a completely different one, it can be easy to lose yourself in the fantasy. That daydream is where most people tend to end their plans to move abroad. The thought of living the expatriate life is as exhilarating as it is frightening, but the payoffs could be plentiful. That is why there are some things you should know before you become an expat to help you plan and succeed at becoming an expat.
Although you live outside of your native country, you are still subject to its taxes. No one likes filing taxes, as the process can get quite confusing. When you are an expatriate, that process can become even more confusing, as you must consider the US tax system and the filing requirements for expats.
As such, you want to avoid any issues with taxes abroad. That is why many expats work with expat accounting companies with comprehensive experience and understanding regarding these unique circumstances.
Your current domestic insurance plan likely does not provide coverage once you leave the US. That is why you should get international health insurance. Moreover, in recent years, many countries have implemented more rigorous guidelines for expatriates to prove they actually have health insurance coverage. So to avoid stressful situations and comply with country requirements, getting international healthcare coverage is crucial.
One of the most important things that every expat should know before beginning the process is making sure you can actually enter the country you want to enter. There are many factors at play here. For one, your passport may make you eligible to enter the country without a visa, but this is usually only for a limited stay.
Most countries will likely require a visa for initial entry or long-term stays, which can take considerable time to obtain. That is why you must plan months in advance and begin the visa process as soon as possible. Moreover, you might consider working with a lawyer to assist you in obtaining the correct documents and filling out any applications.