Moving abroad can be an incredibly exciting prospect. After all, who doesn’t want to live somewhere with sun, sand, and blue skies all year round? Once upon a time, being able to live in an idyllic location whilst making an income was the preserve of the super-rich, but times have changed.
As remote working becomes even more common, and many businesses move entirely online, rejecting the need for office space entirely, the opportunity to take your life abroad is even more enticing. Of course, as with all major life choices, there are many aspects you’ll need to consider before you take the plunge – but once you’ve thought these through, you’ll be prepared to make positive changes anywhere in the world.
Of course, moving abroad doesn’t just concern your business, and it’s also no good living in a beautiful location if you don’t feel happy with your home itself. So, before you jet off to your new city, it’s worth doing thorough research on the housing market in the local area. Is this a wise investment for you to make? Can your current income stream afford the standard of living you want to achieve, whether it’s in a house or flats – and will this income stream change as you move to the new location? Our homes are one of the most important factors to our mental wellbeing, and wherever you are in the world this will not change. It’s worth getting it right.
Taking the Business Online
Your second consideration, of course, should be about whether your work can accommodate your move. If you run your own company, you’ll need to seriously consider the ramifications and possibilities of moving your operations online entirely. In some industries, this may prove harder than others. A consultancy will be able to provide digital services with relative ease – however, an online retailer may find this more difficult. As your location changes, it may become harder to manage the stocks and warehouses that fulfill your customers’ orders. Make sure you have covered all eventualities so that when the time comes to make your big move, you are ready for it.
Moving abroad doesn’t have to mean moving your business online. Nor is it all sacrifice and hardship. In fact, moving to a different location could provide your business with a host of new opportunities. Can your business function even more lucratively in the local market? If so, do you want to move it online, or simply move the business itself with you, and set it up in the new location? This comes with a whole host of further considerations, but it’s definitely worth thinking about.
Finally, and perhaps most obviously (though you’d be surprised how many people do this), don’t forget about timezones! If you are moving your business online as you move abroad, be sure to consider how this might affect your working hours. If you are living in Hong Kong but your business is operating on EST, you’ll be in for a lot of sleepless nights. Make sure you can enjoy your new life in the sun by making sure your business needs will align with your personal lifestyle.