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David, who works as a management consultant, is being sent to Milan to work on a project for the next twelve months. Lyndsey plans to teach English part time.
'There's a lot of planning involved in a move like this, especially with these two in tow', says David.
'We've been reading up on our tax situation, as well as the culture in Italy before we go, using the various guides on the HSBC Offshore website. We found the guides very helpful in planning our move.'
'We've set up a Euro Offshore Bank Account and Currency Charge Card for our earnings while we're in Italy. We'll take our Sterling credit cards with us as a back up.
'We've also put most of our savings into a Sterling 30 Day Notice Account to earn more interest. For planned major purchases, we can draw on these savings when we need to by giving 30 days' notice and transferring the money to our Euro account.'
Lyndsey adds, 'At the same time, keeping the bulk of our savings in Sterling means we can carry on paying off our mortgage in the UK. When it's time to go home we'll just transfer the money we've earned in Italy to our Sterling account.'
Helping David and Lyndsey
David and Lyndsey, in their early thirties, are moving from the UK to Italy in two months' time with their two young children.
Monday, October 04 - 2004 at 09:20
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HSBCMonday, October 04 - 2004 at 09:20 UAE local time (GMT+4)
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