Being an expatriate
Thursday, October 20th, 2011Businesses today are not solely based in one country; they have branches, affiliates, links, suppliers and producers all over the world. Accordingly, they require the services of trusted members of staff to oversee certain aspects of the operation, thus send some lucky employees - and they really are lucky - abroad as expatriates.
What’s the big deal? Why do so many people vie for expat positions, you ask? Here’s just a few reasons:
Cultural experience
It sounds like a cliché, but working abroad can open your eyes and broaden your mind, giving you an enviable experience of business in other lands that employers would lap up. Right now, many are looking for individuals with international work experience; particularly if coupled with fluency in a foreign language. As and when you return, if looking for a new role, your time abroad could really take you places.
Lucrative
You, as an expat, will be looked after. You would usually be paid a higher salary and this will be calculated into the host country’s currency using a ‘build up’ method to ensure that exchange rates don’t have a negative financial impact.
Additionally, all of your expenses will be covered; potentially including the cost of selling items in the UK prior to the move (i.e. a car). Many organisations pay for a certain number of flights each year for every member of the family and may pay a one-off relocation bonus.
Paying an expatriate is not usually something which is done in-house and instead utilises the assistance of an international managed payroll solution. They will ensure the tax equalisation of the foreign-currency paid salary so that you don’t lose out and may also ensure that your national insurance contributions continue, whether via a reciprocal agreement with the host country or by paying direct in the UK.
The family will love it
Accommodation is usually provided and paid for, as are utilities bills. Upon arrival, most families will live in serviced accommodation until they - together with a local relocation specialist - agree on a home to rent, therefore you can take all of your family’s preferences into consideration.
The same applies with finding a school. The local agent will be able to take you round any English-speaking institutions. Alternatively, some organisations will pay for your children to stay in a boarding school back in the UK. Either way, your children will receive the best education.
The best thing about being an expatriate is that it’s not forever. At any time, you and the family can move home but you will always have that incredible experience with you.