Hi
We got our skilled independent visa in november 2003. we are now in the process of trying to sell our house. we would like to go to australia in april.
I did all the paperwork for the visa application myself as money is very tight. we have an independent financial advisor, who said that he could help advise us with matters relating to our migration. however since dicovering this site i am not so sure he is giving us correct advice.
We have no savings as such. we have three children aged 4 years- 3months! We hope to make a profit when we sell the house. after clearing debts and paying removal costs and air fares i think we will have about £20-£30k to take with us. we have endowment policies at the moment, which still have just over 20 years to run.
so the questions are. should we keep the endowments running over here? how do i transfer the money from the house to australia? ( i have looked into setting up an account in Australia with HSBC who i bank with now, but they seem to need me to deposit more money than i actually have at the moment!)
Are there any tax issues other costs that i may not be aware of?
i have tried reading up about all this, but am none the wiser!
thanks for any help

Hi baz, try www.australian-news.co.uk - its a monthly migration guide newspaper that has loads of professions advertising money transfers etc. As for the endowments I think you need Alan Collets help but reading between the lines it looks like any if you kept the policies going, any growth would be subject to Oz Tax - same applies to UK pensions and savings such as ISA's etc. We're in pretty much the same boat but have decided on surrendering them as they've had 0%, 2% & 2.1% in last 3 years. In the meantime contact;
Pensions = www.prismmxpat.com 08454504004
Money = www.hifx.co.uk 01753859159 or
Halewood International (put this in your MSM search as there are several) - also linked via gomatilda site and;
www.moneycorp.com 02078080500 or
www.curranciesdirect.com 02078130332

As for banks, I've heard that even as an existing HSBC customer opening up an Oz account you won't get a credit card immediately or have you been told different? What about the Commonwealth Bank of Australia on www.migrantbanking.co.uk (for online applicants) + can quote exchanges on; londonmbs@cba.com.au 02077103990

Hope this might help, happy panics,
Jerry

Hi Jerry
thanks so much for the advice. i will follow up some of those links a bit later on.
there is so much to think about isn't there. so much that i just hadn't realised that i needed to think about!
off to panic some more!
good luck to you