As a new year approaches and we usher in 2012, many UK citizens could be forgiven for being wary of their financial future. January has always been the month large numbers of Brits seek out information with regards to becoming an expatriate, and the reasons for moving abroad are many, the United Kingdom is suffering in the current financial climate, and professionals young and old, are being tempted by the prospect of an exciting move abroad.
A destination that is becoming increasingly attractive for UK expats is Qatar. The UK is currently in a state of financial ruin, and when the government has no money you can be sure that its citizens will pay the price, both now and in the future, as economic woes are threatening everything from jobs to pensions . This is in stark contrast to Qatar, a nation already rich through oil, where there are fantastic employment prospects for skilled foreign workers. Moving to Qatar also opens up attractive possibilities like transferring your UK pension offshore via a QROPS pension transfer.
Transferring into a QROPS will offer many benefits to the UK expat. Figures have shown that QROPS holders save thousands of pounds in taxes that could otherwise be claimed by HMRC. Expats in Qatar would be wise to investigate this further, and there are recommended financial advisers who specialise in arranging such pension transfers for UK expatriates in Qatar. Please visit the Contact an IFA page if you’d like to get in touch with one.
Looking at the bigger picture is even worse, with spending cuts wide scale institutions like healthcare and education are also going to suffer, so it’s not just you who will feel the strain, but the nation's children will too.
Moving abroad could strongly alter your position and that of your family and loved ones. And a country like Qatar, where millions are being spent on infrastructure and development as we speak, could be the perfect destination.
You can learn more about expat life and working in Qatar by reading more articles here: WhichOffshore/Qatar.