Lifestyle Financial PlanningAAM Moving to Australia

Are you planning a move to Australia?

Could this be you?

  • Emma is a UK citizen. She works for a large professional services firm. She was initially based in the UK and then relocated to Singapore. She is open to relocating to Australia when a new job opportunity arises.
  • Dom is Singaporean. His wife and son moved to Australia to study, and he is staying in Singapore. He plans to join his family in Australia permanently in a few years.
  • Xivar is an entrepreneur who owns factory in China and a chain of retail stores in Asia. He is in his second marriage and has a son Jack, with his current wife. He also has another son, Tom, from his first marriage who lives in the UK. Xivar is planning to retire to Australia with his family: and wants to make sure his wealth will be passed on to his current wife and his children Jack and Tom from both marriages when he passes away.
  • Sarah and Dan are Australian, they have been living in Singapore for 4 years with their 3 young children, they both work and plan to go back to Australia when their oldest child reaches high school age.

Australia has always been one of the top countries for migration. Migration is playing an essential role in Australia’s economic recovery from the pandemic. The Australian Government has introduced various visa changes and new visa streams to attract talented individuals and entrepreneurs to work, Invest and live permanently in Australia.

Or you could be an Australian living in Singapore planning to return home at some point.

If you are thinking of making the move to Australia in the future, ask yourself the following questions

  • Are you growing your wealth tax efficiently whilst living in Singapore?
  • Will you be hit with a tax bill after you move?
  • How can you make sure you pass on your wealth to your loved ones in a tax efficient way?

By understanding the answers to these questions, being aware of what solutions are available, and planning in advance, you could put yourself in a great position when you do eventually move.

Contact us today and speak to one of our wealth managers.

 

Important information

This article is intended for general circulation and information purposes only. It may not be published, circulated, reproduced or distributed in whole or part to any other person without prior consent of AAM. This article should not be construed as an offer, solicitation of an offer, a recommendation or provision of financial advice. The information does not take into account the specific investment objectives, financial situation or particular needs of any person. Advice should be sought from a licensed financial adviser representative before making any decisions. Whilst we have taken all reasonable care to ensure that the information contained in this article is true and accurate at the time of publication, we cannot guarantee its accuracy or completeness. Any opinion or estimate contained in this article is subject to change without notice. AAM Advisory Pte Ltd is licensed by the Monetary Authority of Singapore, FA Licence no. 100032.