An expatriate, or expat, lives and works in a country other than their own, usually for work reasons. Read the full glossary definition from Borderless.
An expatriate, or expat, lives and works in a country other than their own, usually for work reasons. They may be there temporarily or have changed their citizenship to become a citizen of that country.
They might have found a job there or been sent by their employer for work. Expats usually earn more than they would back home, and some companies even provide extra benefits like help with moving and housing.
Retiring abroad is becoming more and more popular these days. When people reach retirement age, some move overseas for various reasons, like enjoying a more affordable lifestyle, better weather, or beautiful beaches. But remember that retiring abroad comes with a set of things to consider.
An important decision for retirees and expats is whether to go for permanent residency or dual citizenship in their new country. It’s also key to understanding how your country approaches citizenship. For example, if you’re American, having dual citizenship or residency doesn't mean you can skip filing a U.S. tax return. Surprisingly, American retirees still need to pay income taxes, no matter where they live or earn their money.
Besides paying taxes in their home country, retirees might also have to handle income tax returns in their new country. It’s helpful to know that many countries have deals to minimize double taxation for Americans living there.
