Wealth Side Stories #5: Expatriates
Julia and Simon are discussing about the impacts of moving abroad and the importance of leveraging the local knowledge of their International Bank.
“It’s good to be here again for the holidays. Can you imagine that we lived here for three years, and never came back.”
“Indeed, I have very good memories of our time here as expats. It was such a great experience professionally and personally. Even if it wasn’t so easy at the beginning.”
“Luckily, we followed the advice of our Private Banker, to meet her long before leaving so we were able to anticipate all the impacts of moving abroad leveraging the local knowledge of our International Bank.”
[1. WEALTH & SAVINGS ORGANIZATION] “It was good that we had a complete screening of our savings in our home country. The taxation was not the same, and there might even have been some double taxation! Our Private Banker also helped to ensure the proper management of our rental properties and the income while we were abroad.
[2. FAMILY PROTECTION] And we were concerned about protecting our family. We ensured health coverage, but also checked all the governance topics. For example, I didn’t know that a pre-nuptial agreement may not have the same force in different countries.
[3. DAILY BANKING] And then there was just the simple things that our Private Banker was able to help us with, like our daily banking, opening a checking account, getting credit and debit cards, making withdrawals and managing currency exchange rate.”
“Finally it was really great to cover all these topics in a coordinating manner with the same bank in our home and host country. We didn’t have to give the same information and documents twice: we just gave an authorization to share our data, and saved a lot of time, and it was great to feel considered as one client worldwide!”
With this new saga #WealthSideStories, meet Julia, Simon, Emma and Mimma in different life situations. Whether it is about investments, governance or diversification, explore their interactions with their private bank BNP Paribas Wealth Management.
Moving abroad is a worthwhile experience which may significantly impact your wealth. From daily banking to estate planning, BNP Paribas Wealth Management leverage our international network to ensure for you the best experience as a private banking client moving abroad.