Services for Expatriates and Foreign Nationals
Moving overseas for work can be an exciting yet daunting prospect. It can present many fantastic opportunities for you and your family. However, there can be many challenges and tasks to address and overcome before you even set foot on the plane.
Depending upon whether you are Outbound or Inbound as an Australian resident, expatriate or foreign national, you may have to address some of the following immediate priorities:
- Visas – Obtaining the correct visa & immigration documents;
- Relocation – Arranging relocation services to assist you and your family move;
- Housing – Secure a new home/residence in your destination city – buying or renting;
- Assets – Arranging for the overseeing and management of your home, investment assets and superannuation/pension fund(s) in Australia or in your country of origin;
- Bank Accounts – Setting up bank accounts, credit cards and/or finance facilities in your destination country.
- Tax – Taking care of your tax obligations in Australia or destination country to ensure you do not pay more tax than you have to and end up in a worse position.
- Super – Establish an Australian super account that will allow you to accumulate super that will be paid by your employer or allow you to transfer pension/super benefits back to Australia that you may have accumulated in your destination country (i.e UK Pension, 401k, IRA etc).
- Custodian Services – Managed investment assets across multiple countries and taxation jurisdictions.
The team at JRSAS understand that your obligations and needs as an expat leaving Australia or foreign national coming to Australia are more sophisticated and complex than your average investor. We can be there for you to provide tailored financial advice along every step of your journey from moving overseas, living in your destination country and returning to Australia or your country of origin.
What Stage are you at?
| OUTBOUND | IN COUNTRY | INBOUND |
|---|---|---|
| Moving to Australia | Living Overseas | Returning to Australia |
| Moving Overseas | Returning Home |
Normally when moving overseas, obtaining financial advice or sorting out your financial affairs and assets in Australia is a low priority. JRSAS can provide you financial advice to ensure your investments and superannuation are correctly set-up so that you can make the most of your time whilst you are overseas.
This will provide you with peace of mind knowing that your financial affairs will be looked after and handled in a professional manner.
Its too late to find out you have a problem and deal with it whilst you are overseas.
Pre-Flight Review
A key initial service we offer expats leaving Australia, is a comprehensive Pre-Flight review of their financial position. This review helps them make sense of what they have as well as what needs to be done to get them well organised and well structured before they leave.
Some areas covered in the Review are:
- Superannuation – Is your Super Fund compliant? What will be the implications to your super/SMSF once you leave?
- Insurance – Do you hold personal insurance with an Australian super provider inside or outside super? Will the insurance still be valid once you leave?
- Investments – Do you own shares or investment property? Do you know the tax implications on these once you move overseas?
- Principle Residence – Are you intending to retain your home and rent it out or sell it? What is the best option for you and what are the tax consequences?
- Investment Loans/Margin Loans – Are you aware that interest on an investment loan or margin loan is no longer deductible when an expat becomes a non-resident for Australian tax purposes?
The team at JRSAS can help you with the best options that are most suitable for you and your circumstances.