I'm not a novice...yet, but given all of the experiences I have had I feel I have what it takes to offer advice. In the process I plan to learn a lot more as well as interact with those who share a similar vision. The first thing a potential expat desires is knowledge. After all the romanticism passes and the fantasies about other lands leaves your mind, you become very rational. Unless you are a multimillionaire, financial planning is at the top of the expat's list of concerns. Do you have enough money to become an expat? That doesn't have to be your first question, but it is one to consider seriously. Currencies rise and fall and this is another reason why financial planning is crucial. Take for example the American dollar as compared with other currencies, it seems (ummm...actually it is) to be on a downward spiral. You might see real esate listed in a particular country that you could afford if the value of the dollar were not so low. So what does one do? Here's where your financial planning comes into play. If your goal calls for you to be settled in your new country within 3 years time, then you'll need to start planning right away. What then is the procedure for making your weak money grow stronger and plentiful (or at least to a bigger amount than what you currently have)? One way is forex investment. This is currency trading. I am doing research on this and I am open to your input. There are way too many scammers out there in this area. The other way is local real estate. By local I mean in your own country not necessarily your own town. Some places in your country might offer really good land deals in areas where there is growth or where you can lease the land for development. Again, due diligence along with a sound plan is key. In a faltering real estate market buying raw land must be done carefully. It should be held onto for the short term unless you plan on utilizing it years later. The same applies to investments in ores, like gold or platinum. Presently most ores are out of reach. Even those that are "affordable" are expensive to own. You still can't use them as currency...well not unless the economy of your country totally collapses! I highly recommend for the purposes of this venture that you make your ore investment a short term one. Get in and get out but only after you have made more than marginal gains. Remember building up your financial base is the objective. _________________________________
Where Do I Go? What Do I Do? Who Do I Talk To...and How?
Let's assume you still haven't selected your dream country. That's a big mistake. You should have already investigated the place or places you plan to move to and why. Is this for business and pleasure? Is this for residence / retirement only? No matter what your reason(s), you should already have visited the country of choice at least once. Let's say you have not made the first visit. You need to create a checklist about this new land. The list should include everything from type of economy, per capita income, value of the local currency, to the average weather. Once you have researched and agreed to yourself that everything on your list is suitable to your desires/needs, then start the "contact" process. The contact process involves joining forums like this one, asking questions of those who are native to the country or frequent visitors. Also contact the embassy of that nation and ask questions. You should already have your questions written down and researched so you're not wasting your time. Inquire about such things as business visas versus tourist visas or what a foreigner must do in order to own/rent property long term in that country.
Ok this is blog and I don't want to overwhelm myself or you, but thanks for reading my first entry. More to come tomorrow. Peace and Blessings
