Ex-pats 'largely unprepared for life abroad'

British expatriates could be largely unprepared for the financial stresses involved in moving abroad.

Research from the Foreign and Commonwealth Office has found that 43 per cent of over 55s believe that a holiday in a foreign country would provide a "fair indication" of what it would be like to live there.

Foreign exchange fluctuations and changes in the property markets abroad are just some of the financial challenges which ex-pats need to prepare for.

Chris Byrant, minister for the Foreign and Commonwealth Office, said: "In the excitement of making plans for a future in the sun, people don't always think about the possible downsides or the problems that can occur.

"It's always worthwhile being extra cautious when you are making a purchase abroad. Local laws can be complex and unclear, so always seek legal advice."

Recent comments from a member of the Brazilian embassy's commercial section reiterated Mr Byrant's sentiment.

"Anywhere in the world that you invest [in property], you should try to have some legal representation which can put you in the picture about these matters," said the embassy member.

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Posted by Eleanor Ward