What does it mean to be an expatriate? Part 1

Do you want to leave your home country because of taxes, limited work opportunities, or do you just have a desire to live a different life? Do you want to find better options for a better life elsewhere? Are you planning to make this happen? If so, you are part of a new trend of people called “expatriates.”
The dictionary definition of the term "expatriate" or "expat", means one who gives up their residence or citizenship. As suggested, the reasons are often for tax benefits. Nowadays expatriation is more and more common. People are moving to a place that makes financial sense to them, a place where there is less government interference, and a place where they can find better economic opportunities.
The trend is that many people feel that they are working harder and longer days with no real benefit in return. Government regulations are becoming stricter and they seem to be impinging more and more on one's personal life. It stands to reason then that one might start looking at other opportunities with less taxes or even tax benefits for investing in a new land. In many of the developing countries, the governments work with you as they see you as hope for their country’s new future. Why not go someplace that offers much lower or even zero income taxes, and a higher standard of living for less money.
The amazing modern technology that is available to us these days opens up the possibilities and freedom to live wherever you want. All one needs is a computer, high-speed Internet access and a phone for you to be in business, which can be conducted from anywhere, and at anytime. Electronic banking also makes living abroad a whole lot easier and more feasible. You could have your money in the UK for example, while you live in Panama. You can move your money anywhere you want to and if you have done your homework, you can move your money to wherever you would like and gain the best interest or returns. In many cases, this is completely tax free, and without government interference.
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It makes sense then to do your research and if you plan to expatriate to choose the best country for you. You, with your work and business skills, financial means available to you at the time, may be a big benefit to other countries, which offer better and freer lifestyles.
There are many hotspots today that expatriates are moving to. Countries such as Argentina, Belize, Brazil, Chile, Croatia, Ecuador, France, Honduras, Italy, Malaysia,
Portugal, Romania, Nicaragua, Panama and Thailand to name but a few.
Are you having difficulty in choosing where you would like to live? Next week, I will give you ideas and suggestions at how to go about this.
Have a great week.
Quote of the week
“Unless you move, the place where you are is the place where you’ll always be.” Ashleigh Brillaint.
Share of the week
Are you planning to move and live in another country? Where do you plan to go? We would appreciate your knowledge and feedback on the benefits of moving to this country.