An extensive survey by HSBC has looked into the pros and cons of living abroad and it seems the former far outweighs the latter!
1. Expats Earn More
Depending on where in the world you relocate to, there is evidence out there to suggest that professional expatriates can earn significantly more than their peers back home. For example, the latest Expat Economics report from HSBC’s Expat Explorer range of surveys reveals that those living and working in the likes of Russia, Hong Kong, Japan and Switzerland earn more than 0,000 on average. A survey from NatWest International also revealed that on average, an expatriate professional’s salary was up to £20,000 higher than their onshore counterparts. So, if you’re money motivated or you just want to get ahead in the great savings race, going to live and work abroad can make a lot of potential sense!
2. Expats Pay Less Tax
By becoming non-resident in the UK for tax purposes you can take advantage of better tax regimes around the world. Those expats who live and work in the likes of the UAE where there is no or limited personal taxation find that they can really advance their wealth status as a result of the perfect combo of a higher salary and less tax. There are also ways for those who are paying income tax in their new nation to perhaps defer the payment of it on savings and investments which can then advance the rate at which said savings and investments grow. This is something that has to be researched on an individual basis because when it comes to your liability for tax, ignorance is not an excuse. So, explore your personal options with a financial adviser.
3. Expats Have a Better Quality of Life
The majority of expatriates surveyed by HSBC revealed that they now enjoy a better quality of life since relocating overseas than they enjoy previously. This can be put down to many of the other factors that come with relocation – such as being able to spend more time at home, outdoors and just away from the workplace, having more opportunity to travel, explore and have adventures and living in a better environment.
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Data controller: Robinsons Relocation Ltd
Robinsons Relocation collects and processes certain personal data about yourself, your family and your household in order to be able to perform and deliver related contracted services to the public and companies worldwide. Robinsons Relocation is committed to being transparent about how it collects and uses that data and to meeting its data protection obligations.
Under numerous global regulations, specifically the General Data Protection Regulation (Regulation 2016/679 EU), personal data must be processed in accordance with certain principles. Article 4(1) of the GDPR defines personal data as ‘any information relating to an identified or identifiable natural person’ Article 4(2) of the GDPR defines processing as ‘any operation or set of operations which is performed on personal data or on sets of personal data, whether or not by automated means.’
Consent to process your personal data
As Robinsons Relocation has been requested by you to process your information in conjunction with our business related activities, we recognise that consent has been given by yourself to process your personal information.
Ref: article 6 of the GDPR 2016/679 EU defines ‘processing is necessary for the performance of a contract to which the data subject is party or to take steps at the request of the data subject prior to entering into a contract.
What information does Robinsons Relocation collect?
The organisation collects and processes a range of information about you. This includes
Full Names, Physical Address, Various Contact Information, Bank Account Details;
Information about your family and residence;
Photographs of residence both inside and out;
Passport and Visa information;
Details of your scheduled relocation;
any other personal information shared with us during the survey, quotation and relocation process
Due to Robinsons Relocation being the processor, the type of information we may collect and the extent to which it is used varies depending on the particular service that are being provided. Other such information that we may become privy to in the course of providing relocation services to individuals will be discussed further if needed. Finally, depending on the nature of global mobility services being provided, the same information may be necessary and collected from the dependents of the transferees who also receive relocation services.
Data is stored in a range of different places, including IT systems, such as data bases, electronic files, email system, paper copies and CCTV.
How does Robinsons Relocation process personal data?
Robinsons Relocation processes personal data in accordance with the following data protection principles:
The organisation processes personal data lawfully, fairly and in a transparent manner.
The organisation collects personal data only for specified, explicit and legitimate purposes.
The organisation processes personal data only where it is adequate, relevant and limited to what is necessary for the purposes of processing.
The organisation keeps accurate personal data and takes all reasonable steps to ensure that inaccurate personal data is rectified or deleted without delay.
The organisation keeps personal data only for the period necessary for processing.
The organisation adopts appropriate measures to make sure that personal data is secure, and protected against unauthorised or unlawful processing, and accidental loss, destruction or damage.
How does Robinsons Relocation protect personal data?
The organisation takes the security of all personal data seriously. The organisation has internal policies and controls in place to protect personal data against loss, accidental destruction, misuse or disclosure, and to ensure that data is not accessed, except by employees in the proper performance of their duties.
Where the organisation engages third parties to process personal data on its behalf, such parties do so on the basis of written instructions, are under a duty of confidentiality and are obliged to implement appropriate technical and organisational measures to ensure the security of data.
For how long does the organisation keep data?
Robinsons Relocation retains personal data in accordance with its data retention policy.
As a data subject, you have a number of rights. You can:
withdraw consent, if possible
access and obtain a copy of your data on request;
require the organisation to change incorrect or incomplete data;
require the organisation to delete or stop processing your data, for example where the data is no longer necessary for the purposes of processing;
object to the processing of your data where the organisation is relying on its legitimate interests as the legal ground for processing;
ask the organisation to stop processing data for a period if data is inaccurate or there is a dispute about whether or not your interests override the organisation’s legitimate grounds for processing data.