The Channel Islands and the Isle of Man are popular banking centres for UK expats, while the Caribbean islands are popular for North Americans. Many large UK and US banks have offshore banking subsidiaries that can be convenient for existing customers. Online banking services are becoming more common, and can be very convenient for checking balances, moving money around the world and even managing your investment portfolio. Living the expat lifestyle can bring financial benefits if you re careful, but bad advice, wrong investments and greed can cause you to lose everything. Contingency Planning Life as an expatriate is not always secure and predictable.
Contingency planning can be a way of life and the financial aspect of the planning is important.
One financial advisor suggested that expats should plan their financial strategy around the worst scenario, because if something does go wrong and they have to leave a posting quickly, their money has still been invested sensibly and hopefully profitably, but it should also be accessible quickly and cheaply. Used under License.