SHARE
COPY LINK
PRESENTED BY SEND MY BAG

The best relocation hacks for 2023

As thrilling as making a new country your home can be, that doesn't mean it's free of complications and frustrations. Fortunately, with a little thinking ahead, the process can be made a lot smoother.

The best relocation hacks for 2023
Moving to another country is one of life's great adventures. But moving your stuff to the EU from the UK may come with extra paperwork that didn't exist before. Photo: Getty Images

When moving internationally, the Boy Scouts’ motto applies: ‘Be Prepared’. A little research and planning ahead of time can not only save you valuable time but often a decent sum of money once you land.

Together with luggage-forwarding service, Send My Bag, The Local highlights some of the best relocation ‘hacks’ for 2023, when making your big move.

Use an eSIM

Establishing yourself in a new country means that you will need a local phone number to access many vital services. Some apps or websites won’t let you access them without one.

Fortunately, many modern phones support dual-SIM cards, meaning you don’t have to forgo your original phone number.

The current generation of phones even supports what’s known as an eSIM – an electronic SIM card. eSIMs are essentially virtual SIM cards that can be switched at a moment’s notice, depending on the plan that you require. All you need to do is use your phone’s camera to scan a QR code, and you’ve switched providers. Some  popular European providers that support eSIMs include Airalo and Holafly. 

eSIMS have the benefit of eliminating manufacturing and packaging costs, often giving you better deals. They also save you from having to go to a physical storefront to pick up an SIM card.

There’s a thousand things to do when moving abroad. Simplify things by sending your luggage ahead with Send My Bag 

Consider an online bank

As with phone numbers, you’ll often find there’s only a certain amount you can do to get established without a local bank account that has an IBAN number – the form of account number that the Eurozone uses, along with certain other countries. 

Online banks – that is to say, app-based banks without physical branches, such as N26 or Revolut – have made significant inroads throughout Europe in recent years.

The benefit of these banks for those moving to or within Europe is that most allow accounts to be opened from abroad, with a three-month window for a local address to be supplied.

Online banks often make it easier to link to overseas bank accounts back home and allow money transfers at current exchange rates, without extra fees. You’ll also likely be offered several sub-accounts within your primary bank account, meaning that saving for travel and other of life’s pleasures is easy.

Manage your utilities online

Unlike in some parts of the world, you will often find in Europe that you have the choice of a provider for electricity or gas. With a growing population of workers and students from abroad, utility providers have emerged to specifically cater to an international market.

With the understanding that few international students or workers have the time to deal with lengthy contracts in another language, they’ve taken their operations online, allowing customers to monitor their usage and control their tariff via an app, in English. A good example of this is Germany’s electricity provider, Ostrom. With much of the administration and paperwork costs removed, such utility providers can also deliver the savings to the consumers

It’s worth doing a little research before landing in your new home to identify which providers offer the best rate scheme, and the most control over what you use and how you pay. Some will require you to pay month-by-month, whereas others will ask for quarterly payments, and it’s good to know ahead of time.

The costs can pile up as you move countries. Know what you’ll pay when you send your luggage ahead with Send My Bag

Moving abroad can be overwhelming – but with a little forward planning, it doesn’t need to be. Photo; Getty Images

Save money on your shop with your phone

It’s very easy to pay far too much for food and everyday services upon arrival in a new country. You simply don’t have the ‘insider knowledge’ that years of living in a place can provide.

Many European countries have a broad variety of app-based coupon programs, such as LetyShops and Payback, that allow you to make considerable savings on your weekly grocery bill via cashing in points.

These programs often operate across different kinds of shops, from supermarkets to chemists, allowing you to make savings across your spending. A few even operate across national borders!

A few apps designed to reduce food wastage, such as TooGoodToGo, also allow you to pick up deals from local restaurants and cafes close to you, meaning that you can eat very well for very little.

Send your luggage ahead

One of the most painful costs associated with moving abroad can be those associated with your luggage. If you’re not careful, you can find yourself with substantial charges. 

One way to avoid considerable and unpredictable costs when it comes to moving abroad with your luggage is using a luggage-forwarding service such as Send My Bag, With flat rates for each piece of luggage sent, there are no unwelcome surprises and frantic repacking at the airport. You can even opt to send boxes, giving you more room for packing. 

Another benefit of a luggage-forwarding service are the complex logistics networks that they use, spanning almost every nation across the globe. These allow a far greater degree of tracking, via an app, and mean that your luggage can be delivered to the front door of your accommodation – no venturing out to the airport to pick them up and managing them on public transport.

Make your arrival in a new country as painless as possible. Have your luggage delivered to your new front door with Send My Bag 

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.
For members

PENSIONS

What Brits should know about SIPP and QROPS pensions if moving to Spain

This Q&A offers some key information on SIPP and QROPS pension plans for British pensioners thinking of retiring in Spain, to help them decide which option is better for them.

What Brits should know about SIPP and QROPS pensions if moving to Spain

Q: What are SIPPs?

A: SIPP stands for Self-Invested Personal Pension and is a UK-based pension plan. If you open an international SIPP then you can draw from this while you’re living in Spain.

Q: What is QROPS?

A: QROPS stands for Qualifying Recognised Overseas Pension Scheme. It allows you to transfer your UK pension out of the country. They are outside the UK tax regime, but must be inside the European Economic Area (EEA) if you want to avoid charges from HMRC. They also need to have similar rules and regulations to a UK-registered pension plan. Many QROPs from those wishing to retire to somewhere in Europe are transferred to Malta. As there is a dual tax treaty between Spain and Malta you will not be subject to Maltese tax when you draw your pension from there.

Q: What do I need to consider when opening a SIPP?

A: If you choose to open a SIPP, as it is self-invested, you will be responsible for managing it and making all the investment decisions. It is therefore best for those who already have some knowledge of investing or those who have the time and who are willing to put the work in to learn. It does, however, mean that you also have greater control and flexibility over your finances. You can choose to have the SIPP managed by a professional advisor, but of course this is an extra expense. Your SIPP could also be potentially subject to UK tax laws. 

Q: What do I need to consider when opening QROPs?

A: This is best for those wishing to cut all ties with the UK and permanently retire to Spain for the rest of their lives. You could lose UK domicile if you choose to do this and don’t have any other assets there, but it could mean you could also avoid UK inheritance tax. It’s also ideal if you wish your family also live outside of the UK

Q: I intend to return to live in the UK at some point in the future, which is best for me?

A: As SIPPs are UK-based, if you plan on returning there to live at some point during your retirement, that option is best. If you have QROPS, you could be subject to a large tax payment if you want to transfer it back to the UK.

READ ALSO: Six factors British people need to consider before retiring to Spain

Q: Which option will be cheaper for me?

A: SIPPs are generally cheaper than QROPs as you are managing it and investing yourself. If you choose someone else to manage it for you, however, this may not be the case.

Q: Will my SIPP be subject to tax in Spain?

A: Yes, if you are resident in Spain then you must follow Spanish tax regulations meaning that any withdrawals from SIPPs will be subject to income tax here. Pensions in Spain are subject to progressive tax rates ranging from 19 to 47 percent.  While SIPPs are also subject to UK tax rules, due to the double tax treaty between Spain and UK, you will not be taxed twice.

Q: Will my QROPS my subject to tax in Spain?

A: Yes, again if you’re resident in Spain you will be taxed on pension income. You must report income from a QROPS on your annual tax return. If you’re already a Spanish tax resident when you move your pension, it’s important to be aware that you’ll pay Spanish income tax on the whole value of the fund, therefore it’s much better to move it beforehand and then make your permanent move to Spain. 

Q: I want my pension to be paid in Euros to avoid exchange fees, which option will be best for me?

A: If you want to be paid in Euros, then QROPS will be the best as you will have completely transferred it out of the UK and into the EEA. This means that when you draw your pension, it will be paid out to you directly in Euros.

SHOW COMMENTS