Those who want to live the expat lifestyle will often look at Asia. From Singapore to Hong Kong, this continent has a lot of choices for places to live, and lots of opportunities for those coming from overseas. But moving to Asia isn’t for everyone, so should you consider a move to this vibrant continent?
Consider the different options for working in Asia
While there are occasionally expat jobs available overseas, these are usually given to those who work in certain industries like tech and finance. If you can’t get a transfer within your current company to Asia, you’ll need to consider what else you can do. Starting your own business is a popular choice for expats. Companies like https://www.acclime.com/ can help with the legal formation of the company and with accounts, as well as giving you expert advice.
Moving to a new country brings a lot of challenges
There can be a number of challenges that people need to overcome to move to a new country, so you need determination to make it work. When you move overseas, you’ll need to sort out health insurance for your family, find schools for your children, and look for somewhere to live when you arrive. This is much easier when you are moving to a popular expat area such as:
- Hong Kong
- Kuala Lumpur
- Ho Chi Minh City
These are all popular spots with expats, which means it’s easier to find things like international schools and places to stay in the short-term, as there are more facilities for those moving from another country.
Cultural adjustments can take time
Moving to a new country can mean big adjustments. But when you simply move over a border, you often find the culture is quite simple and you fit in easily. However, when you move to a whole new continent, it can be a different story. Many westerners find a move to Asia can be quite challenging, and each country has its own culture and set of values, which may not necessarily suit you. So, it’s all about finding the right country that suits your way of life.
Taxes can be impacted by a move
Your tax situation can be more complex when you move overseas, which can mean a lot more work for you. It’s best to find a qualified and experienced tax accountant who has worked with expats in the past. There’s also lots of information on government websites about living abroad. You should find out whether you’ll be double taxed: once from your home country and once from your host country, as some unfortunate expats end up with huge tax bills.
If you are considering a move to Asia, make sure you do your research first, so you can decide whether the culture and lifestyle is for you. Life in Asia can be quite different if you are used to living in the western world, so it’s worth visiting some different countries first and seeing where you might want to settle.