Planning to move to another country is no easy task. There are so many things that need to be done ahead of time to ensure your trip is as easy and painless as possible. Before you pack up your belongings and leave your old country behind, check out this list of 10 things you need to do before moving abroad.
1. Understand the Tax Rules
Before heading off, it’s essential to be well-versed in the tax laws of the country you’re leaving behind and the new country you’re moving to. Many people believe that since they’re moving away, they’re off the hook when it comes to their tax responsibilities, but that’s simply not the case. Many countries, including the US, will pursue taxes worldwide. So if you’re planning on skipping town without paying your unpaid taxes, you may want to think again. A tax advisor, accountant, or financial advisor will be able to assist you so that you understand all up-to-date tax rules and regulations.