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London-based ADL Estate Planning has launched a new report designed to support UK expats working and living abroad in the Middle East and Asia.
Read the report in full at https://adlestateplanning.co.uk/7-top-tips-for-expats-and-nationals-in-the-middle-east-and-asia
The newly launched report aims to provide clear, concise, and up-to-date information to consumers who may be unaware of the charges they may face while working and managing their finances abroad. Details about second passports and residency are available at https://adlestateplanning.co.uk/international-financial-advice-must-consider-second-passports-and-second-residency
It reflects the lack of awareness around international marketplaces as employment opportunities across Dubai, Doha, and Abu Dhabi increase. What many expats are unaware of is the combination of factors that can leave them dealing with unexpected charges and fees.
This is because of a lack of financial regulation, corporate ethics, and advisory support coupled with aggressive sales techniques, which many UK expats may not be familiar with.
The report states that investors living and working abroad where there is an undeveloped financial services industry must educate themselves rather than waiting for regulatory changes.
ADL Estate Planning includes advice within the report for high-net worth expats living abroad. For instance, the company recommends individuals work with advisors qualified to a level 4 UK standard.
If there is a UK pension involved, the advisor should hold a level 6 UK Pension Transfer qualification. In addition, those seeking financial advice should not feel embarrassed to ask for proof of their advisors’ qualifications.
Information on the advantages of second residency or passports is also provided by the company, which understands mobility is crucial, particularly in countries where there is instability or conflict.
Individuals with assets in underdeveloped countries are recommended to seek advice to protect their interests long-term. They may require asset protection that is more powerful than a standard will.
A spokesperson said: “Take financial advice seriously. It can save you hundreds of thousands, if not millions. And make you a decent sum, too. You should have reviews annually.”
“Do not expect your financial advisor to make you rich – if they promise you market beating investment returns consistently, get another advisor,” they added.
More details about the report can be viewed at https://adlestateplanning.co.uk/7-top-tips-for-expats-and-nationals-in-the-middle-east-and-asia
Release ID: 89001719