Posted on: 1st October 2021 in Expats
Managing your investments while living as an expat in another country or continent can be a riddle to some. Dealing with an investment portfolio is never an easy task. If you add to the mix the distance of hundreds or thousands of kilometres, investment management can become confusing and complicated. In this blog, we will share 4 investment tips to make your life a bit easier and reduce stress.
Nevertheless, there are ways to manage your portfolio in a way that could be profitable for you, even if you live far away from your country of origin. All that is required is thorough research and good preparation, which you can do yourself or with the help of a qualified financial adviser.
Taxes never bring smiles. On the contrary, declaring your income equals a loss of funds that you could have used elsewhere. Things could get worse if you make a mistake when you file your tax return. This is the reason why we suggest asking for the help of an experienced financial adviser that would save you time and money.
Being an expat makes things more difficult, as knowing the details about taxation in every country where you hold investments can be overwhelming. In some countries, you are required to declare your worldwide income; in others, this is not needed. However, failure to comply with each country’s tax rules means that there will be penalties which is something you need to avoid. Things become easier if you have an experienced and qualified financial adviser by your side to give you the right information.
One of the most profitable and stable investments is property. Brick-and-mortar investments are always considered one of the pillars of a well-planned portfolio. Even the riskiest investors tend to have a part of their funds invested in real estate to act as a safeguard in case of market fluctuations.
Property is an ideal investment for most expats. It is resilient even during a financial crisis, plus it doesn’t need constant monitoring like other types of investments. It can also be easily repurposed whether you want to rent it or live in it. You can speak with one of our specialists to add a property asset such as this to your portfolio.
Exchange rates may work in your favour but also against your financial plans. Unfortunately, many expats don’t realise the importance of exchange rates and how they affect their budgets. As expats sometimes get paid in US dollars, British pounds or euros, they tend to forget that local currencies may strengthen or weaken depending on the market conditions.
Another factor that should be considered is the cost of conversion, which can be high if expats do not monitor the rates and charges of the service they use. Living abroad means that expats often convert a part of their funds to other currencies, so finding the right provider is quite important.
The financial world is rapidly changing, so today’s opportunities might be tomorrow’s money pits. Even though it is very easy to get access to financial information via the internet and other sources, the ability to filter it and use it in a constructive way is the difficult part of building a solid financial plan. Working abroad and not in your home country means that you face more obstacles, as there could be different rules and regulations that could weigh in on your financial plans.
The best way to reduce risks is to consult a financial adviser. Finding one who has the necessary qualifications and experience to help an expat doesn’t need to be difficult – once you get in touch with your financial adviser of choice, things will become easier as you will receive accurate and qualified advice. Expats should know that there are professionals with many years of experience who can design solid investment plans according to your budget and goals, such as those who work with Holborn Assets.
If you are interested in becoming a Spanish citizen whilst enjoying the benefits of an investment, the Spanish golden visa is the right way to do it.
In 2013, Spain began offering a resident visa in exchange for financial investment. Foreign investors and other non-EU high-net-worth persons that seek a residency permit from the Spanish government are the target audience for this programme.
If you are granted a Spanish Golden Visa, you are able to live and work in Spain and the rest of the European Union (EU), as well as travel visa-free to more than 140 countries around the world.
The solution to the problems of living and working in Spain and obtaining the necessary visas to go to other countries is easy if you are able to obtain a Spanish Golden Visa.
A residency card entitling you to stay in Spain for two years will be issued if your application is approved. Every five years, you can apply for a new Spanish Golden Visa. Citizenship in Spain can be obtained after ten years of residency.
Spanish authorities offer a variety of investment options for people who’d like to apply for a Spanish Golden Visa. If you’d like to make some profit, using the property investment option is the ideal way to go. Property prices in Spain have spiked in the last few years. By buying a house in Spain, you won’t only qualify for a residency visa, but you will also reap the benefits of such an investment.
At Holborn, we have a wealth of experience, successfully working with clients for over twenty years to reach their financial goals. Our team of experts can provide detailed, bespoke advice and investment tips based on your situation and needs. Our global complement of 200+ independent financial advisers delivers top quality, globally-compliant services locally to clients in Dubai, Malaysia, Vietnam, Hong Kong, South Africa, the United Kingdom, Spain and Cyprus.
Get in touch with us today by filling in the contact form below and let’s build your future together.
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