International Relocation

There are many segments to the topic of relocation, all under the general heading of the reason for relocating. For example, if you are relocating as a retiree, it is important to recognize that relocating to a foreign country at the present time is quite different from some years ago when moving to a foreign country was a relatively inexpensive undertaking. In fact, in many foreign locations, at one time (take Ireland for instance), social security benefits alone were enough to sustain a comfortable lifestyle.

Most certainly things have changed radically. Living costs in many desirable foreign cities have escalated dramatically, and a weakened U.S. dollar doesn't go nearly as far. However, it is still possible to retire in some livable overseas locales on a moderate income

Are you being relocated by your company, or is the purpose of your relocation to a foreign country to establish an international presence for your own business? Regardless of the reason for relocation one must thoroughly familiarize oneself with the legalities involved, and there are many. Unless you have done your homework, you will be sure to encounter many unexpected problems. One may find a difficulty in acclimating to cultural differences, or even the lesser annoyances of finding that your electric razor is not adaptable to the voltage differences or the dvds you brought from home will not play on the new system.

In addition to learning about your foreign destination's customs and business procedures you will need to obtain specific documentation required for international travel.The first and most necessary documents are the passport and a visa-which is a document authorizing you to enter a specific country.

THE PASSPORT:

In order to obtain a passport, which is a document issued by the United States Government allowing your travel out of the country and is recognized as a legal form of identification, Government authorities will require the following:

• Proof of U.S. citizenship – birth certificate, etc.
• Two identical passport-size photographs
• Proof of identity – drivers license,

THE VISA:

• Up to date passport
• Back-up identification to ensure you are the same person to whom the passport was issued.
• Reason for entering the country, with back up documentation if for business purposes.
• Intended length of stay –tourist and business visas often have different allowances as to duration of visit, unless the intention is to reside permanently.

If you intend to drive in a foreign country you must obtain an international drivers permit, although some countries will recognize a drivers license issued in the U.S.

An international drivers permit can be obtained through various agencies, including the America Automobile Association.

PURCHASING REAL ESTATE:

• If the purchase of a home is on your agenda you should consult with a real estate firm that specializes in international relocation, and can aid in locating a real estate company and attorney at your destination.
• An extremely important factor to consider is that financing property at your new location may be difficult if you have not thoroughly researched your options and do not have proper guidance from local real estate professionals.

Regardless of your choice of relocation you will need legal guidance in many areas, such as:

• Checking and transferring of title
• Is the seller the actual owner of the property?
• Are applicable licenses and permissions in order?
• How will the host countries exchange rate affect your purchase?
• In most instances various notary fees, transfer taxes, and/or purchase registration fees will be applied to the sale of property

As regarding financing, all cash purchases may be required in some countries where a sophisticated mortgage market has not as yet been developed. However, where such mortgage markets are in place the ususal procedure involves an average 10% to 15% down payment, and an additional 10% to 15% payment at closing. In some countries up to 50% of the purchase price must be advanced, although this is usually not a common requirement. Financing can be arranged in most instances for a 15 to 25 year period.