What You Need to Know About Moving Abroad for Business

People move abroad for a variety of different reasons, but the most common reasons for overseas relocation all tend to be job or business-related in some way.

Whether you are moving abroad because you got a better job opportunity, or whether you are planning on starting your own small business overseas, there are a few key things you need to know.

You may be so wrapped up in the logistics of it all that you forget about everything else, and only focus on your future business venture. That is why we’ve compiled this handy list of things to remember when moving abroad for business. 

1. Know what you are getting yourself into

It is important that you have as much information as possible so that you can adequately plan for your future and make sure you are prepared.

If you have a job offer abroad, this means knowing things like salary and benefits. It is a good idea to have both parties sign a contract before you go abroad to avoid any disappointments.

If you are going to be starting your own business, be sure you are aware of any requirements or laws applicable to you and your situation so that you don’t have any delays once you arrive.

2. Where you’ll be going abroad

It could be that you are planning on relocating first and then looking for a job or starting up a business.

In that case, you are going to need to decide where you’ll be pursuing your business dreams. There are various things to consider – such as necessary requirements to immigrate, or what your financial situation is.

However, if you’ll be moving abroad anyway, why not move to one of the best places to live in the world? Make the best of this opportunity and create a better life for yourself in all aspects of your life, not just business.

3. Emotional impact

Moving abroad is sure to take its toll on your emotional wellbeing, no matter what the situation.

Saying goodbye to people and places we’ve called home is always hard to do, and even more so when you know you can’t just drive a few hours to see them. On top of that, there is the stress of change, and confusion at everything happening.

Be sure that you are not so caught up in all of the obvious things that you forget to take care of your mental and emotional health as well. Allow yourself to feel whatever you are feeling and deal with it in a way that is healthy and works for you.

4. Time period

Moving abroad can often sound quite easy, especially if you have a job offer. While that certainly does make the process much easier, it is still quite a lengthy process. You may need to wait for certain transfers to go through, such as the sale of your house.

You might also need to work a notice period or wait until your children finish the school year. On top of that, you need to apply for visas, which can take months depending on where you are and where you are headed.

And you’ll want to wait for plane tickets to open up . . . and you’ll want some time to settle before you dive into work . . . The list seems never-ending.

So, if you are expecting it to happen in the blink of an eye, sorry, but you are mistaken. Of course, each country is different, but you can learn more about the average time it takes here.

5. Schools

If you have children, a very important factor to consider is what to do surrounding their education. Moving abroad can be traumatic for children, especially if they are not old enough to fully comprehend what is happening.

If you take them out in the middle of the school year, you may want to consider having them take the rest of the year off, as they will likely have missed quite a bit of school during the move. Rather keep them back a year and ensure that they are on the same level as the other children.

If they will be taught in a different language, this is also something that needs to be factored in. They may need to get a tutor or be held back even further. These are all things you need to consider before the move, as they will have an impact on where you move as well as when. 

6. Adjustment

The truth is that no matter how similar your new country is to your previous one, or how prepared you are, you are going to need to give yourself time to adjust.

You’ll have to adjust to a new way of doing things, and there might also be a language barrier to overcome. Adjusting to a new job always takes some time, and now you’ll need to adjust to a new job while you start a new life in a new country.

So, give yourself a break! You might make some mistakes, but that’s okay. You can’t expect to immediately get the hang of things.

7. Living arrangement

You are likely going to live in a temporary residence before you find your new home, so you need to be prepared for the struggles that come with that.

Most people like to view houses in person, meaning you’ll only be able to seriously start looking for a place to live once you’ve arrived. But until you find the perfect place, you are still going to need somewhere to live.

Many people stay with friends or family for a while, which is certainly cheaper than the alternative – living in a hotel. Of course, you can look at photos of houses and do a virtual tour so that you have a house when you land, but there is always the chance that what you were expecting isn’t what you get.

8. Cost

Obviously, this is another factor that varies heavily depending on a lot of factors, but one thing is for certain: you need to know what your finances are going to look like for the next while.

You’ll likely have a lot of one-off payments, such as plane tickets or visa applications, while you are still in your home country. Once you land, you’ll have the expense of arranging transport and finding a place to live.

However, these big, once-off payments aren’t the only things that will affect your financial situation. You are going to need to get used to how things are priced in your new country.

For example, certain daily necessities may cost abroad than it did back home, or vice versa. This means you’ll need to make the necessary adjustments to your budget. 

9. Transfers

Everything is going to have to be transferred. And I do mean everything.

When people think about transfers that are necessary when moving abroad, the first thing that comes to mind is finances. And yes, you’ll have to set up a new bank account and transfer your money. But you are also going to have to transfer your medical records, your insurance, and your cell phone.

And then, of course, there are things like gym memberships or fashion loyalty cards. You’ll have to cancel all existing accounts or memberships and set up new ones. This may seem like a small thing to do, but it can be more exhausting than you think.