1. It often isn’t the most tax-efficient option, with the exceptions mentioned above.
  2. Many developing countries have weak investor protections and less investment choices. If there is a financial crisis, for example, you are more exposed in a developing country in particular.
  3. If you are moving every 3–4 years, it is important to have an expat focused account which is portable.
  4. Many expats can get seduced by what I call “the growth story” in emerging markets. I have seen countless expats purchase local property, or buy into local stock markets, only to get their fingers burned. This is often because they are chasing previous returns, so have bought into a hot market.
  5. Some local brokers and solutions will make you sell the investment, if you move to another country. This is very tax inefficient as you need to pay capital gains taxes on selling.
  6. If you take advantage of a tax-efficient structure in your country of residency, that will only be available to you for the short-term, unless you permanently settle there. For example, if you are a Canadian in the UK, you can invest in stocks and shares through an ISA. This is a good route if you want to settle in the UK for decades. However, if you leave the UK, ISAs aren’t available to non-residents.



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