Are there advantages of living overseas? Could there be tax advantages of living overseas? Would you find many Americans living overseas? Would you consider living overseas for a year? Some of the questions require a personal answer like in the case of living overseas for a year, but others like what are the tax advantages of living overseas have more factual answers.
What are some of the advantages of living overseas?
Seeing new sights and famous places
Trying new foods
Appreciation of other cultures and traditions
Excitement and adventure of traveling
Easy access to medical and dental care at low prices
Opportunities to travel to multiple countries
When living abroad, you can be much closer to other countries making a day trip or weekend getaway to another country possible, whereas in the US, crossing a border into another country takes a bit more travel time, than an hour or two. While this depends on where you are based in your abroad home, there still may be more options for travel to other countries and not just the one where you live. Sampling foods can be a fabulous way to immerse yourself in the culture and taking in the famous hot spots can provide a great backdrop for the everyday life that you’ll create there.
What are some of the disadvantages of living overseas?
Intolerances to local foods or illnesses
Access to medical and dental care, but not American or familiar medications
Potential lack of health insurance coverage as a foreigner
Taxes may have to be paid to both US and the other country where money is earned
One thing to keep in mind before setting off on a year long adventure or lifetime relocation is that the medications and ingredients may not be as well advertised as they are in the US, so reading labels for dietary intolerances or allergies might not be possible in some cases. Also, since the medicines may be different from what you use here, understanding what may be available and how it compares to your existing regimen can be an important aspect to check into before boarding the plane or boat for your new home.
Americans living overseas have to remember that while they are Americans, the rules of the country that they now reside in are the ones that count. You can not just transplant your American home overseas and expect that to work, you are the transplant into the new country. If you decide that you wish to move to another country for a year or even a lifetime, then making sure that you have done some good homework on the area that you will call home can serve you very well in your relocation. Learning a language or more than one can be important, as well since not all places will have English speaking people, or they will expect other languages besides English.
If you work at an American company overseas, then there may be different things that are required due to the nature of your work. Many companies that offer overseas options to their employees will provide language and culture support for those who will be relocating, but if it is not offered, perhaps inquire as to options that you have prior to leaving so that you can be an asset to the company.
There are advantages of living overseas and there are challenges as well. Weighing them out as best you can before departure can make your adventure everything that you are dreaming about and filled with excitement.