Emigration checklist for financial matters

1. Make use of a financial advisor

  • Discuss your current financial situation and financial contracts.
  • Gain advice about fiscal matters and sorting things out with the tax authorities (especially in the case where your go abroad as an entrepreneur or if you keep property in your country of residence after emigration). Make use of any tax rebate.
  • Get advice about your salary and where this will be deposited or get information about the consequences of your pension.

2. Check means of payments & exchange rates/currency

  • Get an insight into how you pay for things in your new home country (cash, debit card, credit card, cheques).
  • Get familiar with new banknotes/coins and exchange rates.
  • Get in contact with the creditcard company to change the creditcard currency to that of your new home country. 
  • Get an insight into the transfer of money to and from abroad when you think you will make regular international transactions.

3. Get in touch with your bank(s) 

  • Be informed about the consequences of emigration on credit cards, current accounts or savings deposits.
  • Are there continuous costs/accounts: arrange an authorized overdraft to someone you trust. Discuss this with your nominated signatory and give him/her restricted access to your finances. 
  • Convert your bank account into a nonresident bank account and terminate direct debit on time.
  • When stopping back account, hand in any bank cards.
  • Get advice about opening a new bank account in your new home country.
  • Get advice from your bank or financial advisor about investment funds.

4. Get an insight into money lending issues

  • Gain information about terminating a mortgage.
  • Make use of experienced mediators, definitely when you are not yet familiar with financial and business related contracts in your new home country.
  • If you need extra loans, gain information about lenders.
  • Round off running debts and obligations before leaving.
  • Ask for experiences of other people who have emigrated to your new home country. 
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Checklists: emigration for global nomads, expats and other people moving abroad

You usually only emigrate once and even if you do it more often, the preparation takes quite a lot of work. JoHo has put together a handy checklist, so that you can get an idea of the arrangements that await you. The exact interpretation of each subject varies greatly from person to person. Please share your experience with your emigration preparation on the WorldSupporter platform.

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