Best places for Brits to work overseas
Working abroad can be a fulfilling experience both personally and professionally. Living in a different country, taking in a new culture, and learning the unique mechanics of an industry abroad can be a fulfilling experience and a serious plus on your CV whether you return home or move on to another location.
Due to Britain’s status as an important node of the world economy with deep historical and commercial ties to many unique destinations around the world, UK businesses often have a lot of links to businesses in places like India, Hong Kong and Saudi Arabia, as well as other anglophone countries like the United States and Canada.
Many of these opportunities are for placements to work on particular projects for a period of months or a couple of years. The time-limited nature of these jobs means that workers often don’t need or want to acquire full citizenship in that country, which in turn means they may wish to send money back to the UK to their already existing savings accounts, pensions and other investment vehicles. This means that they often wish to make regular currency trades from the currency they receive their salary back into Pounds. The currency markets may move from month to month which will, in turn, affect how many Pounds make it back to the UK and into their savings accounts.
Currency UK can help with this situation. All of our clients, whether they’re businesses or individuals, receive a dedicated account manager who will help put together the right combination of exchanges and hedging mechanisms to suit their needs. A forward contract is when is it agreed between parties that exchange between currencies will be made on a certain date at a pre-determined exchange rate. This allows for risk to be minimised and gives a guarantee to the client that a knowable amount of money will reach their British account on that day. There are other products that Currency UK can use to offer to clients to suit their specific foreign exchange needs and all of this can be managed from Currency UK’s online platform or indeed over the phone.
For more information on the services that Currency UK can provide to Brits working abroad, please call us on + 44 (0) 20 7738 0777.