What Happens To Your Singapore Investments When You Move To A Different Country?

By Author: Singapore Expat Advisory
Total Articles: 2
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When relocating from Singapore to move to another country, it may impact the way you handle your investments. If you have shares, unit trusts, exchange traded funds (ETFs), fixed deposits or other financial products and relocating could affect your tax situation. You can access to your accounts and investment approach. It is important to know about these changes to help keep your assets safe and prevent excess expenses.

Review If You Can Maintain Your Investment
It is not all investment firms have the flexibility to keep customers' accounts once the customer has moved to a new country. For some platforms, investments may be limited for new investors and for others, new investors may need to update their identification, residential or tax residency information.

You can call your bank, broker or investment provider to ensure your account can be continued at your new location. You can ask if you can still purchase and sell investments, get dividends and withdraw money after moving.

Become Familiar With The Tax Implications
A change in your country of residence may affect the tax treatment of your ...
... investment income. The rules are based on the type of investment. The source of income and your tax residence in the countries concerned.
You can benefit from the offshore investing for expats who knows both tax jurisdictions to help you delve deeper into the possible impact.

Review the Currency and Transfer Costs
When investments are denominated in SUS and future expenses are in a different currency, changes in exchange rates can impact the value of investments in the spending currency. When investments for expats in Singapore are in SUS and future expenses are in another currency. The changes in exchange rates can have an impact on the value of investments in the spending currency.

Think Critically About Your Investment Approach
When you relocate, you may find you have different financial needs. You might need more easily accessed savings for a house, to move or a job change. It may also be important to reassess a risk level for your investment based on your new income, financial obligations and retirement goals.

Plan In Advance Before Moving to A New Location
Prior to departure from Singapore, check your investment accounts, tax residency status, provider restrictions, currency exposure and anticipated costs. You can maintain copies of statements of accounts and tax paperwork and if required, change your personal details.

If managed properly, the decisions regarding keeping, restructuring or transferring investments can be made with insight. The right path is based on your objectives, investment products and long term financial goals.