Re-locating / Emigrating

The whole re-location process can involve complex logistical planning, not to mention emotional stress. In addition to this, currency movements between your old and new currency can make a real difference to how you start your new life.

At one point in the re-location or emigration route, it is inevitable that some of your old currency will have to be exchanged for the official currency of your new country of residence. One comforting factor is that netaloid.com is certainly well positioned to provide you with a significantly better exchange rate compared to your bank.

Nevertheless, with employment, education, housing, and health insurance but to name just a few important factors to be considered, normally the last thing on one’s mind would be to avoid losing out on the relative difference between the old and new currency.

Most people emigrate without being aware of the simple yet effective tools available via the forex markets that are commonly utilised by large multinational enterprises. These tools can help people lock into advantageous rates, reduce the risk involved in moving and also provide flexible solutions to various tough challenges. A classic example is the timing of the cash flows of your pending property sale to your new country.

Indeed, as specialists in their field, the foreign exchange dealers at netaloid.com are precisely aware of the available tools for individuals in your predicament. That’s why we are in a position to help those taking the literally life changing decision of emigrating.

Let’s take a brief look at various tools that, on the face of it, appear to be complicated mechanisms. In fact, they are fairly simple and relatively easy to put in place. Four scenarios for illustrative purposes:

1. Generally speaking, for those who have funds available to exchange into their new currency, they could easily just sell their old currency and buy their new currency in the market once the decision to emigrate has been made. However, Limit Orders could be utilized in order to try and achieve the best price the market can offer within a defined time period. This could certainly enhance the situation since the limit order would put a minimum acceptable level at which the exchange would be made.
2. For clients who have policies due to mature at some point in the future, but would like to take advantage of currently favourable rates, Forward Contracts could be used to fix the rates straight away. All that’s necessary is an agreed deposit and then we can guarantee a rate for up to 2 years into the future.
3. One common occurrence of those emigrating is the sale of the primary residence. However, just as common is the fact that the final completion date is yet undecided. One possibility is that if the market is offering relatively attractive rates, one could lock into these via Forward Time Option Contracts. With this tool, the funds can be made available within a predefined time window going out, up to 2 years in the future. All that is needed is an agreed deposit. For example, in August 2005, we could secure the rate for the purchase of a particular currency and have the funds available for you at any time between June 2006 and August 2006.
4. Yet another common occurrence is the renting or leasing of the former primary residence. In these cases, it is also usual that the client would like to have the rental proceeds sent to the new country. Here, we could make use of the Swift Regular Payment Service (SRPS). Once clients choose the amount and frequency to be sent (even a direct debit can be put in place), we can ensure the speedy exchange and secure transfer of funds. Or alternatively, clients can wait until the rent has accumulated and reached a more substantial size and then place an order with us to exchange the funds to the new currency and also make the secure payment transfer.