Before You Liquidate Your Assets in Your Home Country

[Lumiworldprintz]

I have had some encounters with some people recently who are regretting liquidating their businesses and assets to relocate to the United Kingdom. That was even before the government turned nasty with its recent immigration policies.

A lot of immigrants, frustrated or not, leave their home country for another country regularly. Many of them liquidate their assets to fund the journey.

Some of them also liquidate their assets and move the funds to a foreign country because they think they are not going back home. The latter is naivety.

You are all right but know that things could go wrong and you may lose everything. The person starting a journey does not know how the journey will end. It is one wisdom you MUST learn.

Let me open your eyes to some things that could go wrong:

Marriage: Your marriage can go wrong and you may lose everything through the one-sided divorce laws. Your spouse can also kick you out, take over your assets, or waste your assets for example through unnecessary litigation costs.

Health matters: Some people's health does take a turn for the worse when they relocate. I had a client many years ago who started falling sick the moment she got here. Her body started swelling up and they piled her with medication and steroids. It simply got worse. Her doctor told her to return to her home country for a month. She got home and her health got better. She is now very rich but it was because she did not liquidate her assets. She turned to the assets she left behind.

Uncertainty: Those who start a journey don't know how it will end. Living abroad comes with several risks and surprises. So, have some there and some here.

Assets can be frozen: Be aware that the government of the foreign country can seize your assets either for breaking the law, query the source of your money, or for political reasons. Remember Abramovich of Chelsea. Imagine if the Chelsea football club was his only asset.

Immigration Challenges: The UK can be very nasty or unreasonable when it comes to immigration laws and rules. At least they dealt with me despite my wife and children being British citizens.

Something can go wrong with your immigration status and you may be subject to removal. Until you get settlement you cannot be so sure. Even if you get a settlement, you can still be deported if you commit a criminal offense, you are sentenced to a prison term of 12 months or more and you have not yet become a British citizen. That is when you will know that you are a foreigner.

So, be cautious, and do not be too cautious. These are just a few points but there are many more.