Breathing new life into neglected investments | Bangkok Post: business

Networth

Expatriates are often investors out of necessity but are rarely cared for in the way they would be back in their home countries. The vast majority of expats get the bug and become lifelong travellers once they have been living and working abroad for a few years, whereas others become expats upon retirement.

Living in a foreign land means you need to be financially independent in the country where you reside. You may have some financial arrangements back home that are not portable and are totally insufficient for your overall needs. It's impossible to compare your financial requirements and affairs with those in your home country because circumstances are so different. People back home tend to be more narrow-minded whereas as expats we become more lateral in our thinking out of necessity.

We live in an ever-changing world where nothing seems to be constant. Just when you think you are all set in a specific area, the rules are changed and you are forced to rethink your strategy. If you have a UK pension you may know the feeling. The world of QROPS (Qualified Recognised Overseas Pension Schemes) has recently been changed and Her Majesty's Revenue and Customs has imposed unexpected amendments that have temporarily stunned pension providers. These changes, and the subsequent amendments that will follow from providers, will be the subject of a separate article in the near future.