Planning to move abroad? Help getting organised from HSBC Expat

Planning to move abroad

Planning to move abroad


Experience different cultures. Enjoy a better quality of life. Earn more money. There are lots of good reasons to move abroad. The key is to find a location that works for you - and to have your finances sorted so you can settle in quickly and easily when you arrive.

To help you take advantage of the financial opportunities available to expats, we've listed some of the main things you should think about below - and explained how we can help. We also have a range of tools, videos and articles to help you find out more about expat life - and about the countries you might want to live in.

Things to consider

  • Having the right banking arrangements is a key part of life overseas. It's best to sort your finances out before you go, as local banks usually require a credit history and proof of address to set up an account - which you won't have when you arrive.
  • To avoid the difficulties of opening an account in a new country, you can open an offshore account before you leave home - this will give you easy access to your money when you arrive in your new country.
  • If you use a bank with a global reach, they may also be able to open a local account in your destination country, and transfer your credit history before you go.
  • Most expats need to transfer money between their new country and home, or make international payments - so it's important to understand the foreign exchange options available and the impact of exchange rates moving against you.
  • Types and rates of tax vary between countries, so you'll need to understand your tax obligations (at home and abroad) and how to make the most of potential tax efficiencies.
  • Growing and protecting your wealth is important - saving and investing offshore can help make the most of the financial opportunities available to expats.

How we can help you settle in

  • Before you go
    If you need an account in a new country, or want the benefits of an offshore account, we can arrange everything for you - giving you fast, flexible and secure access to your money when you arrive.
  • Multicurrency accounts and foreign exchange
    We provide current accounts and savings accounts in a choice of currencies - and have foreign exchange specialists who can help you understand the options available when converting currency.
  • A consistent relationship as you move
    You can keep your finances in one place as you move around the world - giving you the reassurance of a consistent banking relationship, and a central home for your money.
  • Wealth management
    It may not be a top priority now, but at some point you'll want to grow and protect your wealth. Our wealth managers understand expat life and can help you choose the best investments to achieve your financial goals.
  • Global connections
    We're based in Jersey (Channel Islands), and we're part of HSBC Group. This means you'll receive all the benefits of HSBC's global reach and local knowledge.

Your tax situation will depend on your personal circumstances and we recommend you obtain independent tax advice. Any tax information is based on our understanding of current and proposed legislation and practice. The legislation and practice may be subject to change.

Please remember that the value of investments, and any income received from them can fall as well as rise, is not guaranteed and you may not get back the amount you invested. We always recommend that any Investments held should be viewed as a medium to long-term investment, at least five years. This could also happen as a result of changes in currency exchange rates, particularly where overseas securities are held or where investments are converted from one currency to another.



Resources for expats who are planning to move abroad

You can also use these tools, videos and articles to find out more about the country you're moving to, familiarise yourself with expat life and learn the most effective ways to manage your finances while you're overseas.

Planning where to go
Cost of living. Quality of life. Raising children. Our Expat Explorer tool rates countries based on feedback from over 3,000 expats. Expat explorer
Discover what others are sharing about expat life with the Expat Hints & Tips tool. You can get valuable ideas about living and working abroad. Expat Hints & Tips tool
Our expat social network
Our social media sites are a great source of information and advice - essential reading if you want to make the most of your time abroad. Our expat social network
Organising your finances
Our Guardian guides cover almost every aspect of expat life - from arranging your finances to the cost of living. Arranging your finances
Family Finances
Your money and the cost of living
Our guide to expat banking. Go to video
Understanding tax
Use our Global Tax Navigator to get information on local tax systems and financial practices. Global tax navigator
Our practical guide to tax. Tax guide
Expats and tax - this 6 minute video is packed with useful information. Tax video