Looking to swap the grey skies of England for clear blue ones elsewhere?
If you’re dreaming of a new life outside the UK but aren’t sure where to put down roots, we’ve got you covered.
Clear Currency, an international money transfer specialist, reveals some of the most popular destinations their clients have moved to in 2022 and what you need to consider when buying property abroad.
1. Australia
Melbourne, Sydney and Perth are often popular choices for those considering emigrating from the UK to Australia. (Image: pushkarrajsharma)
With its rugged coastlines, vast horizons and temperate weather, Australia is the perfect place to begin a new adventure. Listed as the sixth best country in the world for quality of life (according to Numbeo’s Quality of Life Index 2022), it’s easy to understand why a lot of Brits consider settling here. Melbourne, Sydney and Perth often rank among the world’s most liveable cities and are top choices for expats.
The country’s low unemployment rates and shorter working hours also make it an appealing destination for those thinking of starting a new career. Although Australia’s living costs are currently higher than in the UK, better wages help to bridge the gap (according to Numbeo 2022).
2. New Zealand
It should come as no surprise that New Zealand is a sought-after place to move abroad from the UK. With astonishing landscapes, a relaxing pace of life and an abundance of outdoor escapades, there are numerous reasons to migrate to this alluring island country.
Auckland and Wellington offer plenty of work opportunities and there's a high demand for skilled tradespeople. This makes New Zealand a great choice for working professionals looking for a change as well as young families.
New Zealand is one of the top choices for UK expats. (Image: Getty Images/iStockphoto)
3. Spain
Relocating doesn’t necessarily mean you need to travel halfway across the globe to turn over a new leaf. Spain has been a popular destination for British emigrants and those with holiday homes for many years – and it’s clear why.
In addition to its rich cultural heritage, delicious food and sun-soaked coastlines, the country has low crime rates (reported by Numbeo 2022), a good work-life balance and a lower cost of living than the UK. The Spanish Costas and Balearic Islands are among the most popular places for expats.
4. France
Lots of people also choose to move across the Channel to make the most of the spectacular scenery and culture that France offers. The country also has one of the world’s best healthcare systems, and approximately 30 per cent of French taxes go towards welfare and social funds.
When purchasing a home abroad, you'll want to consider relevant foreign property laws and exchange rate fluctuations. (Image: Getty Images/iStockphoto)
Toulouse is a sought-after location for young families, offering great educational facilities and plenty of activities to keep all ages entertained. The balmy summers and mellow winters of Pyrénées-Atlantiques perfectly suits retirees, with lots of stunning walks and landmarks to enjoy. Lyon is ideal for those thinking of starting a business or young couples that can benefit from the city’s thriving economy.
5. USA
For some, the idea of learning a new language and getting to grips with a different culture can seem daunting. The States has a familiarity that can be comforting for those relocating from the UK, while still offering a new way of life.
Florida is a popular state for British retirees thanks to its warm climate, senior-friendly lifestyle and flexible pension laws which mean you can still draw your UK state pension or take out tax-free lump sums. Denver is one of the quickest growing metropolitan areas in America and is a great place for outdoor enthusiasts with the nearby Rocky Mountains. Boston is well-known for its quality educational establishments, including Harvard University, making it an attractive choice for families or those considering a move abroad to study.
What do I need to consider when buying a property abroad?
To be prepared, you should look into the following:
- Foreign property laws – Research the terms and conditions of buying and selling a home in your chosen country.
- Paying taxes – Discover what taxes you’ll need to pay, both in the UK and the country you’re moving to. This can help you make tax-efficient decisions.
- Brexit – Buying property abroad has become less straightforward since Brexit. For European countries, you may require a visa to live there permanently. It’s also worth checking that your professional qualifications are recognised in your chosen country if you plan on working there.
- Exchange rate fluctuations – People across the world are trading 24/7 meaning the value of the pound against other currencies is constantly changing. This can have an impact when transferring money abroad, affecting mortgage repayments and property values.
How can Clear Currency make my move overseas easier?
Converting money into another currency can be overwhelming. Of course, you’ll want to know your finances are safe, and that you’ll have enough to live off once you settle into your new home. As currency specialists, we’ll talk you through the process, risks and considerations of making international payments so you can feel confident about the financial decisions you make.
No one can predict how much exchange rates will move up or down, but we can guide clients on choppy currency markets based on political and socioeconomic factors. This insight can help you protect your overseas investments and make wiser financial choices.
We have extensive experience in helping people to manage their money transfers, enabling them to make their dream purchase abroad. We don’t charge fees, meaning there are no hidden costs. It's a cost-effective and convenient alternative to high-street banks, allowing you to access competitive rates and avoid paying hefty transaction fees.
Your dedicated account manager can help you plan for all eventualities; to help you make the most of your budget, decide when it will be most prudent to make your overseas payments and monitor the progress of your transaction every step of the way. This way you can make sure your money arrives safely as you begin the next chapter of your story.
Clear Currency is FCA regulated and has a 5* Trustpilot rating.
To find out more and get a free transfer quote using the currency converter, visit clearcurrency.co.uk. Call +44 (0)20 7151 4871 or email edp@clearcurrency.co.uk for more information.
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