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Would-be expats urged to sort out their finances

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People in the UK who are planning to commence an overseas money transfer before emigrating have been advised to look at their wider finances.

According to Crown Relocations, there are many tasks that would-be expats need to undertake before relocating to another country.

This, it said, includes making sure their finances are in order, so they can know how they will manage their money when they move outside the UK.

Kimberley Millhouse, senior move manager at Crown Relocations, commented: "It may be that you close down your UK savings and investment accounts or decide to keep them running."

Aspiring expats were also advised to consider what insurance policies they will need to put in place before setting up home in another country.

Indeed, Ms Millhouse noted that moving abroad could potentially have an impact on any cover they have already purchased, such as life and health insurance.

"Every bit of paperwork must be in order as this is crucial to avoid a last-minute hitch," she commented.

"As the time draws closer, you should set aside all those items that you don't want to be packed in the shipment."

Ms Millhouse went on to recommend that people who are planning to emigrate look at how their lifestyle choice will affect their will and tax status, as well as think about whether they want to retain their right to vote in the UK.

She added that expats need to get hold of their medical records and make sure they get any vaccinations they may require well in advance of any move to another country.

This comes after Liz Rowlinson, editor of A Place in the Sun magazine, named Spain as one of the main hotspots for Britons who want to relocate to sunnier climes, along with Cyprus and the Caribbean.

People who are keen to enjoy good value for money were said to favour non-eurozone countries, such as Egypt, Morocco and Turkey, as well as the Far East and Mexico.

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