Are you looking for a change and considering becoming an expat? If the answer is yes, you should consider the Isle of Man. The Isle of Man has an ever growing number of expatriates. More and more people seem to be moving to the island to take advantage of the great benefits it provides its residents. This has caused the island to become somewhat of a melting pot of nationalities and cultures. Islanders are known as 'Manx' but classified (for passport purposes, for instance) as British. With roughly half the population being Manx-born, and the rest coming from the UK, Ireland, and an increasing mix of other nationalities, now is the time to make yourself part of the mix!

The Isle of Man economy has experienced steady growth since the 1970’s due to a combination of low taxation, political and fiscal stability, investment in infrastructure and government initiatives to stimulate economic activity. The island has had one of the fastest growing economies in Europe in recent years and is in its 26th year of continuous growth. This growing and sustainable economy has resulted in a low unemployment rate and a high quality of life. Are you ready to move yet?

Interesting Facts

The Isle of Man is part of the British Isles but not the United Kingdom. It is a Crown dependency, with its own parliament, Tynwald. Established by the Vikings, Tynwald is the oldest continuous parliament in Europe, having celebrated its millennium in 1979. The Island is 33 miles long, 13 miles wide and covers an area of 227 square miles. It has a population of more than 80,000.

What makes it Attractive?

Financially the Isle of Man is very attractive. There is no capital gains tax, no inheritance tax and no stamp duty. In the 2016 Budget the single persons tax free allowance was £10,500, the next £8,500 of income is taxed at 10% with the balance charged at 20% up to the cap. These amounts double for married couples and are fully transferable between husband and wife. Personal income tax is capped at £125,000 per individual. Residents enjoy many benefits including good housing, education and health services, accessible activities, room to move, and a relatively safe community.

Financial Services

To many people, the Isle of Man is known for its financial services partly because its government and tax laws make it an attractive destination for financial companies. In addition to low tax rates for individuals, there is a 0-10% corporate tax, with the banking sector paying 10% while the rest pay 0%.

Niche Businesses

Despite being best known for financial services, the Isle of Man has arguably the most diversified economic base in the world for areas of similar size and is developing a global reputation for a diverse array of niche, quality sectors including:

· High-tech manufacturing

· E-Business

· E-Gaming

· Ship and superyacht management

· Aircraft registration

· Film production

· Space commerce

· Entrepreneur/trading gateway

· Quality food producers and manufacturers

The island's e-gaming sector is now its largest employer, followed by insurance and financial services, although traditional sectors such as the manufacturing industry and agriculture still play a significant role. With a growing market of niche businesses, the Isle of Man is a great place to start a business or open an office.

Before relocating to another country, trying to find expatriate health insurance coverage on your own can be a daunting task. Not to mention the checklist you must complete before leaving. For help developing a checklist, read our previous blog, “Expat Checklist before the Big Move.”

Many of us at MHG are expats ourselves and we understand the global insurance needs of international businesses, and individuals and families living and working around the world. Our Insurance Specialists have the experience, knowledge, and access to multiple international insurance carriers to find you the most suitable plan based on your budget and future plans. Our commitment to your well-being does not end once you have purchased a plan; through our “Concierge Broker Service”, we will continue to assist you with questions about your policy and provide assistance throughout the claims process. Call us at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com for help finding expatriate insurance coverage for you, your family or business!

Are you looking to move and start a new life? Becoming an expatriate is one of the best ways to make a new start. Moving to a new country, creating a new home, making new friends, it can be a very fulfilling experience. One of the hardest decisions can be deciding where to move. After all, the world is a big place and it can be difficult deciding on one location. So if you are looking to make the big jump but are having trouble deciding on where to go, use the list we complied of some of the top places to be an expat!

Ecuador

According to InterNations , Ecuador is the highest ranking country in the world for overall satisfaction of expatriates. Although the language barrier can be difficult to overcome, it can be very easy to make new friends in Ecuador. It also offers a low cost of living, with growing downtown areas in cities such as Quito and Guayaquil which is creating a plethora of job opportunities.

Switzerland

Switzerland is notorious for having some of the world’s best banks and financial companies. With so many foreigners investing in their financial industry, it has helped create a high standard of living. English is commonly spoken helping to make it easier to adapt and settle down. Switzerland is also full of crystal clear lakes and beautiful mountains which makes it perfect for those who love the outdoors and wish to live an active lifestyle.

Singapore

One of the biggest draws for expats going to Singapore is the opportunity to earn a higher salary. A higher salary may be needed for those with children, as schooling here can be quite costly. Even though schooling is costly, it may be well worth it as Singapore is home to some of the best schooling in the world. Some other great benefits of living here are a great public transportation system, a stable economy, and low tax rates.

Canada

Oh Canada! Canada is a beautiful country that can offer wilderness and one of a kind natural beauty, and also appease to those who wish to live in a metropolitan area. One reason expatriates may be drawn to live in Canada is their national healthcare system. While the majority of Canadians speak English, Canada has a multicultural population with a plethora of friendly locals to help make it easier to settle in to your new country. Just make sure you pack some jackets!

Thailand

Who wouldn’t want to live in a tropical climate? Or in a place that is home to some of the world’s most beautiful beaches and islands? Aside from Thailand being an exotic location, there are many benefits for expats besides the tourist attractions. Some benefits include a low cost of living and a friendly tax system. Also, Thailand’s capital city, Bangkok, offers plenty of employment opportunities to expatriates.

Australia

Many people who visit Australia never want to leave. This could be why there is such a large number of expats living there. Australia offers people a great quality of life, breathtaking landscape and wildlife that can’t be seen anywhere else in the world, and we can’t forget the beautiful beaches. Think about it, how cool would it be to say that you live “down under”?

Moving to a new country can be an amazing experience, however if you decide to move back home there are some things you should be aware of. For more, read our previous blog, “ What to Expect When Repatriating ”. For those that are preparing to move to a new country, read our Expat Checklist for a to-do list to complete before the big move. If you are interested in more information about Expatriate Insurance , or are interested in purchasing Expat Insurance, contact us at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com for help finding expatriate insurance coverage for you, your family or group!

Achtung! When thinking of Germany, there are a few things that come to mind like Oktoberfest, the Autobahn, German automobiles, etc. Germany is considered to have one of the top economies in the world, with major international companies such as Mercedes-Benz, BMW, Adidas, and Allianz based within its borders. Germany is also one of the most popular migration destinations in the world, partly because it is famous for having a universal health care system. You'll have no problem finding fellow expatriates and making lifelong friends with others who are going through the same experiences as you. So start brushing up on your German, and get ready to make the transition of a lifetime to Hamburg, Germany!

Unique 

Have you ever heard the saying, “Everything’s bigger in Texas!”? For those that haven’t been to Texas, I can assure you that statement is very true. Texas is home to three of the top ten largest cities in the United States, and six of the top twenty! The largest city in Texas, and fourth largest in the country, is none other than the great city of Houston. With the entire metropolitan area being home to over six million people, there is something for everyone, no matter what their interests are. It’s no wonder this city is growing fast, and expats should consider it a top destination. 

More than just Oil

While Houston is notorious for being run by oil billionaires, its business goes much deeper than just oil. The oil industry is a great industry to be involved in, and brings a great amount of money to the area, but Houston can also offer opportunities for those who don’t see themselves in the oil industry. According to Business Insider, Houston is the number one job creator in the United States and is home to 26 Fortune 500 companies, which is sure to draw a large amount of expats to the area. One of the large industries in Houston that you may want to be a part of include the IT industry, which is always growing and looking for top talent. Other industries include the aerospace industry (NASA has a headquarters there), as well as the healthcare industry (Houston’s medical center is as large as downtown Dallas!).

More than just Cowboys and Cattle

When some people think of Houston and Texas they think of cowboys, horses, farms, etc. However, Houston is not like some place straight out of a John Wayne movie. It is a metropolitan city with plenty of trendy offerings. According to the New York Times, it is “one of the country’s most exciting places to eat.” The city offers all kinds of great food from barbecue, to seafood, to Mexican, and even Cajun. Houston is close in proximity to New Orleans so there is a strong Cajun presence. And what better way to spend a weekend than in New Orleans? Houston is also home to a plethora of parks and one of a kind museums if you’re looking for things to do. Many people visiting the city for the first time are quite surprised at the abundance of greenery and landscape it has to offer. It is also a home to teams from some of America’s top sporting leagues, including the NFL and NBA.

Things to be Aware of

After everything I have covered, it’s easy to picture yourself living in this great city. However, there are some things to be aware that you should plan accordingly. One is that Houston’s climate is very warm. If you are from a country that is predominantly cold, you may want to get a new wardrobe featuring some short sleeves and shorts. It is practically on the Gulf of Mexico, so it can be humid and muggy at times. While it may be hot in the summer, you’ll be quite happy in the winter when you aren’t experiencing frigid temperatures.

Before relocating to another country, trying to find expatriate health insurance coverage on your own can be a daunting task. Not to mention the checklist you must complete before leaving. Many of us at MHG are expats ourselves and we understand the global insurance needs of international businesses, and individuals and families living and working around the world. Our Insurance Specialists have the experience, knowledge, and access to multiple international insurance carriers to find you the most suitable plan based on your budget and future plans. Our commitment to your well-being does not end once you have purchased a plan; through our “Concierge Broker Service”, we will continue to assist you with questions about your policy and provide assistance throughout the claims process. Call us at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com for help finding expatriate insurance coverage for you and your family or business!

Doesn’t it seem like whenever you visit some beautiful place, you never want to leave. Well, depending on the terms. I’m pretty sure that Tom Hanks couldn’t wait to get off that island in Cast Away. But if you are on holiday somewhere in the Caribbean, it’s not too hard to envision yourself calling that place “home” and truly “living the life.” That may be why it is becoming more and more popular for people to retire, and move to their dream destination to live out their golden years. But before you jump on that plane, there are some things you need to get squared away. 

Social Security and Other Retirement Funds 

If you lived and worked in the United States and are looking to retire abroad, your Social Security should follow you wherever you go. Also, your 401k, IRA, or any other retirement savings plan you may have administered during your working career should be available to you. However, you may have to get an account at a bank in your new country, or an international one.

Government Sponsored Health Care 

Unlike your Social Security, Medicare (or your countries equivalent) will not follow you to your new country. However, the good news is that in many cases, being a resident in your new country can make you eligible for its government sponsored health care plan. Also, most of the developed countries around the world have Universal Health Care systems, which can be better than what is offered in the U.S. The only con is that it can take a long time to get an appointment or see a doctor.

Insurance Options Local Health Insurance: Domestic health insurance won’t follow you to another country. And if it does, it will only offer a fraction of the coverage that it would have offered back home. So it would only make sense to keep your domestic plan if you planned on traveling back and forth to receive any medical services. In most countries, the local health insurance that is available is much like the one you may have had back home. Including a provider network that lets you know which doctors or hospitals the carrier will provide coverage for. One drawback to having a local plan is that in some cases, they will not write a new policy for you after the age of 63.

No Health Insurance: You have the option of having no insurance coverage at all. Thus meaning you would have to pay cash for everything. If you live in the Unites States, this may seem like a crazy idea given the fact that health care costs can be more than twice as much as other countries. But, even with costs in other countries being lower, this still may not be the smartest option.

International Health Insurance: International health insurance, also known as expatriate insurance, is essentially the same as your domestic health insurance, with coverage all around the world. So you would have coverage whether you are in your new home, or visiting your old one. This may be the best option of health insurance for most people that are retiring abroad. Especially for those who are over the age of 63 and cannot purchase a new local health insurance. 

Moving to a new country, no matter what stage in life can be an exhilarating experience. With so many tasks to complete in order to prepare yourself, it can be easy to forget some items. If you are interested in purchasing an international medical insurance plan, also known as expatriate insurance, please contact our insurance specialists at 1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com. We have an office full of expats, and others who have re-located, who can assist you and advise you about all the necessary steps to take when selecting the proper insurance for you or your family.

As insurance brokers we are here to help! Part of that assistance is our expert advice that we provide. So we thought it would be a great idea to ask our employees, “What is one piece of advice you would give your clients?” 

Mark Bononi- Director, Luxury Yacht Division 

Generally speaking, you get what you pay for. Typically, health insurance that has a lower cost will not have the same amount of coverage as one that costs more. If you are looking for health insurance that fits you best but you have a budget, seek advice from someone who knows what they’re talking about, and is experienced on the matter.

Edward “Mole” Telfer- Director, Cruise Division 

Providing a solid employee benefits package can be the key to attracting and retaining the industry’s best employees. Use a “Rolling Benefits Strategy” to build up your benefits over time.

Janine Jeffries- Director, Business Insurance Division

Give your agent a complete picture of the business and description of operations. Each business has unique attributes. The more your broker knows, or has a better understanding, the better we can do our job. Also, be sure to ask questions. You would be surprised how many needs are uncovered during a Q&A session with your broker.

Stephen Beck- Manager, Life & Health Division

I would advise our clients to not WORRY about “What if?” but to ASK about the cost of insuring themselves against each “What if?” that concerns them. Just ask, “How can I protect myself in the event of a ________________?” We have the answer.

Joanna Drysdale- Manager, Underwriting Services 

In our field, insurance isn’t just about protecting yourself against financial loss or covering your contractual obligations. It’s also about showing your employees that they’re valuable to you. Hanging on to a great bunch of crew season after season is worth so much more than the savings you make by skimping on crew benefits.

JW Haagensen- Account Executive, Inside Sales 

Disclose all current and past medical conditions when applying for insurance. Insurance enrollment forms are a contract and if you fail to reveal a portion of your medical history or provide incomplete information, the insurance company could cancel your policy. No matter how minor it may seem, it’s important to advise your entire medical history and keep a file.

Steve Jackson- Consultant, Yacht Division

Find an insurance broker who really knows their field. Having an understanding of the real life of a captain and his crew as well as the technical knowledge of the insurance industry is invaluable.

Clayton Swart- Manager, Business Development 

Whether you’re purchasing group insurance for your employees, insurance for your business or an individual plan for you and your family, it’s important to understand your policy. I know that insurance documents can be boring, but it’s really important that you read through them to make sure you understand the benefits and limitations of the plan. If you find anything confusing, it’s better to address those points before you need to use the plan.

MHG is here to help and provide assistance with all of your insurance needs. Whether you are looking for marine crew insurance, health insurance, life insurance, travel insurance, expatriate insurance or insurance for your business, we have the experience and knowledge to help you find the right policy. Please contact us at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com. Let our insurance specialists find you, your family, or group, the best insurance available for your budget.

Lucy…I’m home! You’ve been working for several years as an expat and now that you’ve completed your contract, it’s time to go home. Phew! It really has been a whirlwind experience. From the great friends that you have met from around the world, to the amazing places you have visited, you sure have made a lifetime of memories! But now that your time to head back home is drawing near, you might be feeling a range of emotions from excitement to sadness. Of course you’re looking forward to reuniting with old friends and spending time with family, but you’ve also made a life for yourself in this place far from home and you’re going to miss it immensely! As you start preparing yourself for the transition back home, here are a few things to consider. 

Déjà vu                                                

Packing boxes, finding new schools for the children, closing out accounts, canceling subscriptions, garage sale…sound familiar? Well, unfortunately everything you did on your way over, you’re going to have to do again on your way back home. The best advice that we can give is to take one thing at a time because it’s easy to get overwhelmed. There are going to be hiccups along the way but try to take them in stride.

Finances 

Many expats while away from their home country, pay a different tax, such as a non-resident tax. When repatriating, you may have to re-register as a resident in order to begin to pay the necessary taxes, and avoid back taxes in the future. Also, while living abroad, you may have had your bank account(s) in an international bank, or a bank of that country. Now you may want to transfer your money to a local or domestic bank, and close out the old accounts.

Emotional Concerns

While you may be very excited to return home, repatriating can be a bittersweet experience. Yes, you may be returning to your family, loved ones, and old friends, but you are leaving new ones. However long you have been at your new home, whether 5, 10, or 20 years, there are a plethora of memories that you cherish. The feelings and emotions you could be going through may be similar to those that you had when you first left. Also, this can be a stressful time. After all, you are moving your whole life from one place to another. Again.

Health Insurance 

You have a long list of items on your to-do list, but one of the most important is arranging your health insurance. As an expat, you probably had an international health insurance plan, but now that you’re returning home, your coverage needs will be different and it’s important that you find a plan that will match your new lifestyle. Depending on where you call home will determine the type of plan you need, or whether or not you even need insurance. For example, if you’re returning to a social system, you may not need health insurance at all. Maybe you are retiring, and moving back to the U.S. where you may be eligible for Medicare, or maybe you will have to purchase an individual health insurance plan. 

Many of us at MHG are expats ourselves and understand the global insurance needs of international businesses, individuals, and families living and working around the world. Our Insurance Specialists have the experience, knowledge, and access to multiple international insurance carriers to help you find the most suitable plan based on your budget and future plans. At MHG Insurance Brokers, our commitment to your well-being does not end once you have purchased a plan; through our “Concierge Broker Service”, we will continue to assist you with questions about your policy and provide guidance throughout the claims process if necessary. Call MHG Insurance Brokers at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com for help finding insurance coverage for you, your family or business!

Taking the leap and becoming an Expatriate can lead to an overwhelming wave of emotions. From excitement, to scary, to nervous, to anxious, even nostalgic, knowing that you are leaving your home to start a new life in a new place will give you a rush one way or the other. Deciding to become an expat is step one of a long list of things to take care of before you set sail on your new adventure. So use this Expat Checklist when organizing, packing, and scheduling everything that needs to be done before your big move!  

  

1. Medical check-ups for you and each family member are a must before you leave, and make sure to get an extended supply of any prescription drugs. Also, obtain a copy of the medical file related to the condition that requires prescription drugs, and be sure to keep these with you during your travels (keep in your carry-on). Check what vaccinations are required.
2. If you have children, look into education opportunities abroad. The countries school system, boarding school, home schooling, etc.
3. Learn the language! At least the basics in order to communicate important stuff.
4. Passports and VISAs need to be valid, and it may be a good idea to renew them if they are set to expire in the near future. If you’re filing for a new passport, file your application early because it may take some time to complete. Remember, some VISA applications require a lot of paperwork so start those early as well.
5. Cancel any subscriptions you may have. Such as magazines, telephone, cable, internet, etc.
6. Apply for an international driver’s license. Keep both your international and domestic licenses with you at all times.
7. Make photocopies of all important documents, such as birth and marriage certificates, social security cards, etc.
8. It may also be a good idea to get any important documents translated into the language of your new country of residence. It could make this whole process a lot easier and quicker.
9. Handle your property before leaving. Your house, are you selling it or renting it? Your car. Anything else of significance you may own. Also, make arrangements for your vehicle at your destination. Are you shipping your car there, or do you need to rent or purchase a new one?
10. Ask your bank about money transfers and banking abroad. Look into online international banking, it may be easier to make transfers and manage funds between countries.
11. Take food items, or any other items for that matter that you enjoy but won’t have available to you in your new country. At times you may be homesick, and these items may help sooth your soul.
12. It is very important to share the new address and your new contact information with your friends and family. Just in case of any emergencies.
13. Set up your utilities ahead of time, so you won’t be without power or water upon your arrival. This goes the same for cell phone and internet access, in order to let your loved ones know that you have arrived safely and are settling in.
14. Determine the tax rules of your new country, as each country has specific tax rules on foreign earned income. Also, there may be taxes on any shipped items that you have shipped to your new country.
15. Insurance! Expats need International Health Insurance in order to have worldwide coverage. Instead of trying to figure out the insurance plan that is best for you and your family, find an insurance broker to do that for you. You have enough things to do as it is.

Print this checklist and carry it with you to use when packing and moving to your new country. Moving to a new country can be an amazing experience. If you are interested in more information about Expatriate Insurance, or are interested in purchasing Expat Insurance, contact us at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com for help finding expatriate insurance coverage for you, your family or group!

Have you ever jumped out of a plane? Climbed a mountain? Gone scuba diving? Relocating to a new country can evoke many of the same feelings and emotions. But, isn’t that what life is all about? Living it to the fullest? The fear and excitement of the unknown? That’s why it’s great to be an expat! An expat, otherwise known as an expatriate, is someone who lives outside of their native country. Did you know there are a staggering 50.5 million expats living and working around the world?  That number is expected to increase to 56+ million by 2017! Maybe you’ve been considering packing your bags and moving halfway across the world for your dream job, but aren’t quite sure if you’re ready to uproot your life. So for those that are on the fence, MHG would like to share some advice from our own expats that will hopefully encourage you to jump and take that leap of faith.

A New Start

New start, clean slate! Becoming an expat can allow you to leave your baggage and drama behind and give you the opportunity to, make new friends, have an exciting new job, and who knows, maybe meet your significant other.   

Language

Depending on where you go as an Expat, you may need to learn a new language. Learning a new language isn’t an easy task, however, it allows you to learn more than just some words, it can force you to learn the culture as well. You wouldn’t have the opportunity to learn a new culture by just visiting or vacationing somewhere.  By living there and having to make an effort to adapt is when you really get to experience new cultures.

Life Skills

Living in a new country can also force you to learn some basic skills such as cooking, fixing a car, performing maintenance around the house, etc. While living in your home country, if you didn’t know how to do something, you may have had the option of calling someone to come help you or fix it for you. That may not help in a new country.

Job Opportunities 

Many people become expats because of the work opportunities. Maybe you have been eyeing that dream management job which is just out of reach at home but more attainable overseas. In addition to the job opportunities, expats find compensation packages to be very enticing which can include a competitive salary, international health insurance, housing, annual tickets home, car and school tuition for the kids to name a few.

See the World

What better way to see the world than by becoming an expat! Expats will tell you from first-hand experience the only way to  truly experience a country’s culture, tradition, and language, is to live there for an extended period of time. Living like a local will allow you to see the sites and taste new foods. Before you know it, you will be involved in and partaking in things you never thought you would have. Getting to experience things that you wouldn’t have gotten to experience by just visiting. You may also develop an admiration for the traditions, and find yourself really loving your adopted country, maybe even more than “home,” and possibly want to have this same experience at a new location. 

Before relocating to another country, trying to find expatriate health insurance coverage on your own can be a daunting task. Many of us at MHG are expats ourselves and we understand the global insurance needs of international businesses, and individuals and families living and working around the world. Our Insurance Specialists have the experience, knowledge, and access to multiple international insurance carriers to find you the most suitable plan based on your budget and future plans.

At MHG Insurance, our commitment to your well-being does not end once you have purchased a plan; through our “Concierge Broker Service”, we will continue to assist you with questions about your policy and provide assistance throughout the claims process. Call MHG Insurance at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com for help finding expatriate insurance coverage for you and your family or business!

Moving to another country can be the exciting adventure of a lifetime. Whether you will be pursuing your studies during a semester abroad or relocating more permanently to further your career, it is imperative that you have a health insurance policy that provides coverage in the country where you will be residing. In certain cases, you may qualify for the national health plan of your host country, but the majority of travelers will need to obtain expatriate health insurance coverage.