New Year, new me. Have you made practical resolutions for 2023? Is emigration one of your resolutions? If it is, are you prepared?
Emigration is not as scary, it just requires a lot of paperwork. Let's go through the summarised checklist to help get you on the right track and make the topic uncomplicated.
1 - Gather Important documents
We all have our documents in a box or a file at one of our parents' houses, maybe amongst our family photos. Make sure your paperwork is in order, start with the basics: Birth Certificate, Passport, ID, and Marriage certificate. After the basic documents are in place, do you have your qualifications, have they been recognised? Do you have a job offer? What visa do you have or need for the new country? If you don’t have the documents you need, what do you need to get them?
2 – New Rules and requirements
A new country will come with new rules, so familiarise yourself. Ask questions regarding the visa, the benefits, and the health care. Social and cultural questions to prepare yourself for a better life. New Rules and requirements are something that can serve as a deterrent for the migration process however, at New World Immigration we can help you with all those headache-worthy topics.
3 – Debit Orders
You are moving to a new country, who is going to pay your debit orders? Close and rearrange your debit orders. Before starting with the immigration process, look at your finances. Can you afford it now or can you afford it a few years from now? Does this suit the timeline of the processes? Netflix, Spotify… are these little things more important than getting a job that pays you four times more than your salary in South Africa.
4 - Access to accounts
Investments, savings, credit cards, and the debt you may have in South Africa. It doesn’t all have to be closed before you leave but then you will need to ensure that you will have access to them while to are abroad. Can you change your OTP (One-time-Pin) to an email rather than an SMS? FOREX- How are you going to transfer money to your South African account to cover these accounts, are there tax implications?
5 - Tax
Moving to another country, you will now have to consider that your finances will no longer be regulated through South Africa. Do you need to contact SARS? How do you move your finances within the law of both countries? Tax emigration can be a scary topic but with the right guidance, we can ease the stress.
With a multitude of factors to consider with emigrating, why not discuss this with an emigration consultant? The first question you need to ask is, Do I qualify for emigration? What are my options? Click on the free assessment and we will be in contact with your options.