CHAPTER 1
IS THIS THE OPPORTUNITY OF A LIFETIME
| A wonderful opportunity can be yours. The chance to live and work overseas is often the chance of a lifetime. What better way to see theworld than getting paid for doing it? Living and working offshore can be an enriching experience for both the employed partner and the family members. The opportunity to expand one's horizons and to experience new cultures can offer a unique scenario. | 
The familiar vs. the great unknown |
You will probably be among other expats and will not be alone. There
will be others who will share some of their "learning experiences" with
you, along with a list of dos and don'ts. Your company wants you to
succeed-they are making a serious investment in you. They wouldn't be
sending you if you couldn't do the job. Companies are sending their
best and brightest. You should feel proud that you have been selected.
As you can imagine, there are many factors to consider in making the
decision to go, in making the venture a success for everyone involved,
and utilizing the experience to its fullest advantage. This book will
help you and your family accomplish this. Even if you're working for
yourself and not for a big company, many of the same issues will apply
to you.
Obviously, any professional who has been offered the opportunity to work
abroad needs to consider several issues before a responsible decision
can be reached. First, is the overseas assignment in your best
interest? If you accept the assignment, is there a competitor or
colleague within your company who will step into your position while
you're away and "make hay while the sun shines"? If you accept this
assignment, what are your odds of success? (The ratio for not
completing an overseas tour can be as high as 1 in 4 in some foreign
assignments.) Will cultural differences, language, principles or work
habits serve as opportunities or major obstacles? Chapter
2 of this book
will help you think through some of the career ramifications of
accepting (or declining) the opportunity to work abroad.
Chapter 3 discusses the importance of learning the
fine art of
cross-cultural communication. Learning to recognize and adapt to
cultural differences will be critical to your success on this
assignment. You will need to learn about such things as the rudiments
of the foreign language, proper etiquette, correct dress code,
appropriate manners, and how to avoid a cultural gaffe. Before you go,
learn about the host country. Read as much as possible about the
country where you plan to reside. Learning about a nation's culture,
customs, people, and history will make your stay more meaningful. Keep
abreast as well of the international news for the latest political
developments in the country where you will live. Libraries, bookstores
and tourist bureaus are good resources for this information. One of the
best ways to learn about living in a foreign country is to get advice
from US citizens already residing there. Countries with large numbers
of US expatriates often have an American Chamber of Commerce, a
bicultural organization, or an American social club that can give you
information on living in that country. In countries with fewer US
residents, you may be able to meet fellow expatriates through a local
international club. The consular section of the US embassy or consulate
may be able to assist you in finding these organizations.
The Department of State publishes background notes on countries around
the world. These are brief, factual pamphlets with information on each
country's people, culture, geography, history, government, economy, and
political conditions. It also issues travel advisories to alert US
citizens traveling or residing abroad to potential problems that could
adversely affect them. The advisories are available through US passport
agencies, travel agents' computer reservation systems, major airlines,
and American embassies and consulates abroad.
The family who accepts an international assignment must be in unison
with one another if the foreign venture is to be successful. By
maintaining harmony, success is more assured at your new home and on the
job. All your hopes for success abroad can come true, especially if
your house is in order. Careful preparation and open, straightforward
communication among all members of your family both before you leave and
after you settle in are important keys to a good international
experience. Some spouses experience difficulty and frustration in
adapting to a strange country, especially if they had to leave a job
where they were happy to follow their partner. Children, too, can balk
at being uprooted from their school and friends. You will need to
consider such questions as: How long will it take them to adjust to
their new surroundings? Can they be enrolled in an American school? If
the children are in high school, will the credits they earn in a school
abroad be acceptable for college admission in the US?
Chapter 4 is
designed to help you and your family make the right decisions about
going and help you prepare for your adventure if you accept. It will
also offer some suggestions about making the best of your adventure in a
foreign land.
Thinking about the well-being of yourself and your family will no doubt
lead you quickly to questions about health issues in the proposed
country. Does this country pose significant health risks? Will the
hospital and medical facilities there provide the quality of care to
which you are accustomed? Will you and your family be fully covered by
insurance while abroad? Look to Chapter 5 for more
about these and other
health concerns.
The US Department of State can be of great help to you both before you
leave by providing useful information about your host country and while
you are living there. US consulates and embassies offer a wide range of
services to US citizens living abroad, especially in the event of
emergency. Chapter 6 outlines many of these services
for you, as well
as providing some other useful advice about legal issues you should
consider. Don't limit yourself to seeking help only from the US
consul. You can also find valuable advice from the consulates of other
governments as well. For example, in the British Commonwealth
countries, the British consular services may offer you the best advice
on your host country. Similarly, in an African country that was once a
French colony, you might turn to the French embassy there.
You will also want to look carefully at what impact this assignment may
have on your personal finances. First, can you afford to accept this
assignment? Will your standard of living be affected? How much of an
increase in salary will be necessary in order to take the plunge? Will
the additional allowances that are designated for housing, the
children's education, auto, and other cost of living expenses be
sufficient? What kind of compensation package will your company
provide? What about the options regarding your home in the US? Should
you sell your home or rent it out? Or should you keep your home and
have it maintained but empty? Regarding your benefits package, will you
be covered by Social Security as well as a pension plan?
Chapter 7
discusses the many aspects of the compensation package that you should
consider when discussing this assignment with your company.
Chapter 8 provides some information about taxation
by both the US and
your host country. While gathering information, you will want to begin
asking such questions as: Will you need to pay income tax to that
country? Is there an income tax treaty that exists between the US and
the other country? Who will provide advice and prepare your tax returns
for both the US and the host country? Will you be responsible for
paying for this kind of tax expertise? It is in your best interest to
find out beforehand.
If you have never traveled to a foreign country before, you may have
given little thought to how the goings-on in international money markets
can affect your everyday life. This will certainly change. Suddenly
you may find yourself quite literally concerned about the price of tea
in China! Even to manage your day-to-day expenses, you will soon learn
to pay close attention to the relative values of the currencies you will
be working with. Even before you accept the assignment understanding
currency values will be useful, as you will want to know the answers to
such questions as: What currency will you be paid in? If you are paid in
foreign currency, is it a volatile or stable currency compared to the US
dollar? What is its value relative to the US dollar? Answers to these
questions may well affect your up-front negotiations with your company,
and your financial planning for your life abroad. Chapter
9 offers a
brief discussion of the factors that affect the value of world
currencies and looks at how global fluctuations in currency values can
affect your personal finances.
To manage your finances while abroad, you will also have to choose a
bank to handle your financial transactions and possibly help you with
your investments both at home and abroad. As an expat, you may well
find yourself with more money to invest, and with more options available
to you in terms of financial advisors, investment planners, and offshore
banking services. Although the abundance of options is certainly an
advantage, it can also be very confusing. Chapter 10
offers some advice
to help you navigate these waters.
As the last part of the financial information offered here,
Chapter 11
provides information and questions to consider regarding your insurance
coverage and estate planning. It will walk you through such
considerations as: Have you reviewed your insurance coverage? Will
there be any problems if you file a claim outside of the US? Are there
any restrictions in your health, life, disability income or
property/casualty coverage? If there are gaps, will your company group
benefits provide the additional coverage? Has your estate plan been
reviewed? Should you consider having a foreign will for foreign
assets? This is especially important if you own real estate in your
host country. A lawyer and an accountant with expertise in both
domiciles are highly recommended.
There is one aspect of living abroad that expats often fail to consider
until it is upon them, and that is the "re-entry" experience. Not
uncommonly, expats and their families discover that coming back home can
be at least as difficult as moving to foreign soil. However, forewarned
is forearmed, and Chapter 12 offers some advice
about how to avoid some
of this "reverse culture shock."
The last two chapters of the book are offered to you as tools to be used
in preparing for your new adventure. This book is designed to be a
launching platform for you, and its mode is Socratic. My objective is
to start you off on the right road by leading you to the questions you
may not have thought of and encourage you to do your homework in the
areas of particular importance to you. There are many, many useful
resources in print and on the Internet to help you.
Chapter 13 offers a
brief list of some of these resources, to get you started. No doubt
they will lead you to others.
And of course, don't forget that often the most valuable resources are
people you can talk to. Search them out, and don't be afraid of looking
stupid-ask questions! As an example, when I arrive in a new city, or
even in a city where I'm familiar, I find local business men for
business information and to get advice. Their experience and knowledge
of "their town and the people in it" have been of great benefit to me.
If they don't know, they know who does know. Veteran expats, be they
fellow employees of your company or club members, or neighbors, are also
exceptionally useful sources of information, advice, and empathy. Some
of the websites listed here offer chat rooms and bulletin boards so you
can exchange information, questions, and experiences with expats from
around the world. And don't forget the nearest US consulate. Remember
that however rough it gets, you are not alone.
Chapter 14, finally, consists of a timetable and
checklist you can use
to ensure that when you have to leave to catch that plane, you will do
so confident that you are as ready as you can be for the experience of a
lifetime.
Every publication is a snapshot in time, and such is the case with this
one. Times change, businesses evolve, and so will the subjects and
information discussed in this book. My way of continuing this dialogue
and providing an updating of information is through our newsletter
Global Assignment, Americans Abroad, published 9 times a year. The
newsletter is also on line at
www.globalassignment.com.
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