There may be a number of additional expenses linked to your overseas assignment. You need to find out about this extra burden to calculate the differences in your net income on location compared to home.
• Managing your present residence.
• Care for senior relatives.
• Educational/living expenses for students or boarding schools.
• Traveling expenses to visit close relatives or have them visit you.
• Increased living expenses abroad.
• Extra educational costs abroad.
• Cost of a trustee to represent you in home country.
Your employer may cover some of these cost but this depends entirely on your contract. Employers do generally not expect you to lose money while abroad but do not pay any more benefits in kind for everything as in the good old times. You are expected to participate reasonably, e.g. pay a proportion of the rental and taxes for benefits in kind.
Managing Your Present Residence
If your present residence is rented by you, then you need not to worry but merely give notice of your move as required in your lease contract. If you own a home, you may want to rent it out, keep it unoccupied or sell it. Keep in mind that you will need a home when you are repatriated. Assignments can be shorter than anticipated and you need a home when repatriating on short notice.
What you have to consider when you rent your home:
• Have your rented home managed by a company rather than asking friends or relatives to look after the tenant’s needs
• You need to inform your mortgage bank
• Assess your tax situation
• You may need to employ a gardener
Living Expenses Abroad