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Relocation- Do this before you move PDF Print E-mail
Thursday, 17 April 2008 15:02
Relocation_1

Before you move:

1. Consider the following:

  • Locations to live- what are the transportation links close to your workplace?

  • What international schools are located nearby if you have children?

  • What areas appeal to your senses, ie shops, ambience, safety, price  range?

  • Hire a real estate professional, or a relocation specialist(who will help with more than just your real estate issues)to represent you and find you properties that will meet your needs.

  • Give them a list of your requirements including

    • Price range
    • Minimum number of bedrooms
    • Storage space(Closets)
    • Minimum number of bathrooms- If they have a shower, do they have a power shower?  Here in the UK, the water pressure is from a tank in the attic, so unless you have an electric power shower the water flow is very weak.
    • Number of floors, stairs
    • Refrigerator  and freezer size(rooms for another or American size?)
    • Size of yard
    • Location preferences(if any) an example - located near international school
    • Utility room- separate washer and dryer(they can be one machine)
    • Off street parking , garage
  • Education- research and schedule appointments with several international schools

  • Find out what services they have available

  • If they offer buses, find out where they will pick up and make sure to include these areas in your house hunting

  • Do they offer after school care, sports ? which ones, what degree plans do they offer- AP, American, or IB

Services

Banking- setting up a new bank account is not easy.  I also recommend that you keep a bank account in your home country and also at least one credit card.  This will allow you to shop online in that currency, and also keep your credit records active for your return.  See if your company has a special relationship with a local bank- perhaps the one they use.  You will need a letter of reference from your bank in the US, or your last country of residence.  Also a letter of reference from your employer will be needed.  Copies of bank statements from your current bank can help set up more immediate credit terms.  If not, then be sure to contact companies that have private banking services and also look at offshore banks.  Some to include are:

  • Citibank
  • HSBC International
  • Barclays International
  • American Express Private Banking
  • Wells Fargo International
  • Utilities- this is something to ask your relocation agent to help with.  Until you have an address you will not be able to sign up for gas, electric, water, phone /broadband services, discount international calling services.  Make sure to put both spouses names on these bills, as they are required for identity.
  • Mobile phones- you will probably have to put a deposit up on your phone, and they usually require a  copy of utility bills in your name, bank information , but see if any will accept a letter from your employer, and a deposit.  The sooner you can get your banking settled , the easier the entire process will be.
  • Insurance- you will need to consider what options you have for private health insurance.  Most large companies offer coverage, and some even offer several choices and you must choose the plan and coverage you want.
  • The other types of insurance you must consider are:
  • Automotive insurance- if you plan to own a car, you will need insurance to cover it.  If you buy a new car, you can buy what is called GAP insurance to cover the difference between what you owe, and what is paid in the event the car is totaled.  Make sure you keep all documents associated with the purchase in an accessible file, and if your car is totaled, be sure to get your car record book out of your car before it is towed.
  • Property- if you rent, you will want at least Contents insurance to cover your belongings inside the property.
  • Travel- Everyone one in Europe buys their own travel insurance.  The airlines are not bound by the same rules covering baggage as they are in the United States.  I suggest you buy annual coverage for the entire familiy.  Make sure to take the business package, or that what you purchase covers electronics (usually only the business type does).  I thought the business for only for business trips, and learned this lesson the hard way.  When our cameras, and phones were stolen they were not covered under our travel policy because we did not tick the box and pay a few pounds more for the business coverage.

Another key consideration is whether to rent or buy.  There are arguments for both, and many companies policies offer a housing allowance if you lease, but nothing if you buy.  In this case you have very little choice.  I expect to see changes in this trend as the US tax law has changed to now include rental allowances as income, and now this is fully taxable.  This may cause companies to change the policy, and reduce the housing allowances provided.  If you think you will be here long term, and can afford to buy this may be a wise investment.  Most expatriates do not know how long they will be stationed in one place, and this uncertainty makes renting the most common choice.

 

 

Expatriate Clubs

One the best things you can do is find and join a local expatriate club.  There are many types and range from country specific to large international clubs.  They provide information sources- references to tradesmen, activities, and a way to meet and make new friends in your new home.  There are also business clubs for Expatriates, as well as social clubs some for spouses, and some that include an entire family.

Click here for a listing of international clubs and links to their websites.

 

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Last Updated on Tuesday, 27 April 2010 09:29
 

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