In 2013, it was estimated that roughly 50 million people around the world were expatriates
. An expat is simply a person who lives, and often works, in a country where they are not
from.
The term is effectively the same as “immigrant”, but is usually used to describe affluent or
Western immigrants.
In many cases, expats seek out different attributes than an economic immigrant might.
So, what are the best countries for expats?
Well, expats from different countries often congregate in certain regions.
For example, of an estimated 5 million expats from the UK, about 1.2 million live in Australia.
However, determining how many of your citizens have moved abroad is incredibly tricky.
In fact, the United States government has no idea, although third party estimates range
from about 2 million to 6 million Americans abroad.Worldwide, Saudi Arabia hosts the most
international expats, while the largest number overall come from India.
But the best countries for expats aren’t necessarily the most obvious.
In 2011, one of Facebook’s cofounders gave up his U.S. citizenship to live full time
in Singapore.
This way, he could avoid paying US capital-gains taxes.
Singapore is one of the most popular expat destinations due to its minimal tax policies,
and very high salaries.
In 2014, more than a quarter of all expats living in Singapore were paid over $200,000
a year.
But a high salary doesn’t necessarily translate to a higher quality of life.
In fact, it is New Zealand—known for its stunning landscapes rather than its financial
policies—which has scored among the highest for quality of life.
Nearly 57% of expats say that they are more physically active in New Zealand, and over
half say their health has improved since moving there.
New Zealand may not be the best place to make a living, but the happiness quotient and the
welcoming atmosphere make it one of the most popular.
Another country sought out, especially by expat families, is Sweden.
Aside from a complicated, and more expensive tax situation, Sweden ranks high for childcare,
education and quality of life.
Switzerland is similarly highly ranked, but is more so for those who want to balance their
work and life.
Switzerland is a culturally developed, centrally located country known for its high quality
of life and very high salaries.
A stable, strong currency and business-friendly government makes Switzerland an ideal place
to work in Europe.
But wealthy Americans may not be able to escape their financial duties all that easily.
According to US tax code, for any amount earned over about $100,000 dollars, US citizens abroad
have to pay taxes in addition to those imposed by their new home country.
This has led to nearly 3,500 American expats renouncing their US citizenship in 2014.
Expatriation may just be the life for you, but be careful, it is not that easy to find
a new country with low taxes, high quality of life, high salaries, and a relatively affordable
lifestyle.
For many people, tourism is just an easier way of experiencing different countries without
having to become an expat.
Learn about the most visited countries in the world in our video.
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