Living abroad? Start banking with HSBC Expat

Planning to move abroad

You will be experiencing totally different cultures. Get pleasure from a better quality of life. Earn extra money. There are many smart reasons to maneuver abroad. The secret is to search out a location that works for you – and to own your finances sorted so you’ll settle in quickly and simply after you arrive.

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To help you’re taking advantage of the monetary opportunities offered to expats, we’ve listed a number of the main things you ought to consider below – and explained how we will facilitate. We even have a variety of tools, videos and articles to assist you discover out a lot of about expat life – and about the countries you may wish to live in.

Why HSBC Expat

Am I eligible?

Relationship Balance

Your Relationship Balance is the total amount of deposits and investments in your HSBC Expat accounts.

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New customers

To become a client of HSBC Expat you need to maintain minimum balance of £60,000 or currency equivalent in your HSBC Expat accounts and investments.

Your Relationship Balance is the total average credit balance, calculated each period, of all your HSBC Expat accounts and any investments you’ve got with HSBC Fund Administration (Jersey) restricted or HSBC Funds nominee (Jersey) limited – as long as they are all in the same name(s).

HSBC Premier Customers

If you’re already an HSBC Premier client and hold Premier accounts with different components of the HSBC group, you’ll receive the Premier service with us, without the requirement to maintain the minimum £60,000 Relationship Balance.

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HSBC Premier Service tailored to expats

New customers of HSBC Expat qualify for HSBC Premier Service that provides a variety of advantages to assist you to manage your personal economy.

Things to consider

Having the proper banking arrangements is a key a part of life overseas. It is best to sort your finances out before you go, as native banks usually need a credit history and proof of address to set up an account – that you won’t have after you arrive.

To avoid the difficulties of opening an account in a new country, you can open an offshore account before you leave home – this may offer you quick access to your cash after you arrive in your new country.

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If you utilize a bank with a worldwide reach, they’ll also be ready to open a local account in your destination country and transfer your credit history before you go.

Most expats need to transfer cash between their new country and residential, or make international payments – thus it is vital to understand the exchange options offered and the impact of exchange rates moving against you.

Types and rates of tax vary between countries; therefore you’ll have to know your tax obligations (at home and abroad) and how to make the most of the potential tax efficiencies.

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Growing and protecting your wealth is vital – saving and investment offshore will facilitate making the most of the monetary opportunities offered to expats.

How we will assist you to settle in

Before you go

If you wish an account in a new country or wish the advantages of an offshore account, we will organize everything for you – providing you with quick, versatile and secure access to your cash after you arrive.

Multicurrency accounts and exchange

We provide current accounts and savings accounts in a very choice of currencies – and have exchange specialists who will assist you perceive the choices offered when converting currency.

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A consistent relationship as you move

You can keep your finances in one place as you move round the world – supplying you with the support of a uniform banking relationship, and a central home for your cash.

Wealth management

It may not be a prime priority now, but at some point, you will need to grow and protect your wealth. Our wealth managers perceive expat life and may assist you to select the most effective investments to attain your monetary goals.

Global connections

We’re based in Jersey (Channel Islands), and we’re a part of HSBC group. This means you will receive all the advantages of HSBC’s international reach and native knowledge.

Content credit: mp3skulls

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