Australian Expats

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Australian expat

Pelican Expat Mortgages is specially geared to cater for all your expat lending needs in Australia, whilst offering competitive pricing and a full suite of award-winning products.

What we offer:

  • Highly competitive and award-winning products.
  • Transactions can be made over the phone, email or face-to-face.
  • All banking products offered including general insurance products, transaction accounts and professional packages.
  • Foreign currency and dual currency loans.
  • Dedicated Mortgages Specialists to look after all your current and future lending needs.
  • You do not need to be an existing Pelican Finance customer to apply.*
  • Looking for a quick, over the phone $AUD loan approval?

    Pelican Expat Mortgages Direct offers Australian expats a thorough and convenient over the phone loan service. It is ideal for Expat property investors who wish to invest back in Australia without needing to be here in person.

    To apply for an $AUD loan over the phone please call Pelican Expat Mortgages Direct on +66 8 1205 3932, 8.00am to 9.00pm, seven days a week. Or email us

    your enquiry and a mortgage specialist will contact you within 24 hours.

    Living in Asia and want to talk to an Expat relationship manager face-to-face?

    In Asia Pelican mortgage relationship managers can assist you in the loan application process to purchase an Australian property in a variety of foreign currencies. To arrange an appointment with a relationship manager in Asia, please email

    Free Expat Report-Click Here!


    Information and Research for Australian Expatriates in Asia
    Statistics
    According to banking group HSBC’s Expat Explorer 2011 research:
    > 35% of Australian expats overseas are earning over US$201,000, compared with 25% of
    expats in general.
    > The UK and United Arab Emirates are currently home to a higher number of Australians
    (24% and 10% respectively) enjoying strong earnings.
    > 74% of Australian expats overseas report a higher disposable income while overseas.
    > 46% of Australian expats are using their higher disposable income to buy property
    back home.
    > The vast majority (87%) of Australian expats claim to have complex finances, and 50%
    make their own investment decisions without consulting an adviser.
    > Only 48% of the Australian expats surveyed have a financial adviser, while more than
    half rely on family and friends for financial advice.
    The study also noted regardless of the destination, most Australian expats (75%) did not
    organise their finances till after they moved.
    Cash flow strategies
    Many international assignees rent out their home when posted overseas for additional
    cash flow.
    There are a number of options to consider about what to do with this extra money
    including buying foreign or Australian investments, contributing to super, or reducing
    existing debt.
    However, some expats lack discipline and tend to spend any extra money they receive,
    potentially wasting financial opportunities while overseas.
    Committing to a structured, flexible and disciplined framework of investment or savings
    commitments while offshore is one of the most critical strategies to adhere to in order to
    make the most of an international assignment.
    Resident versus non-resident status
    The tax consequences are different for residents and non-residents.
    An understanding of the criteria for classification as a ‘non-resident’ for tax purposes
    and whether this is a benefit for the expat from a financial perspective is crucial.
    Understanding Australian tax is only half the equation.
    Investment decisions
    An international assignee’s investment strategy should not be left to stagnate due to
    an overseas posting.
    Typical questions that need consideration include whether the international
    assignee’s current home should be sold before departure and whether one should be
    purchased in the new country.
    If the international assignee is a non-homeowner, should a home be purchased and
    rented out?.
    Another consideration is whether it is better to rent or buy in the adopted country.
    If buying offshore makes financial sense, it is better to know this in advance so
    employment deals can be structured to allow employers to fund a home loan
    repayment amount to the equivalent value of rent paid.
    Additionally, thought needs to given as to whether the expat should keep making
    contributions to managed fund investments back home, or whether it is better to
    invest in similar products in their host country.
    Asset allocation
    Questions need to be asked on how investments are taxed in both countries and
    whether all investments should be kept in one jurisdiction.
    Superannuation
    Deciding whether to contribute to an Australian super fund or a foreign retirement
    savings scheme, and the tax implications of both, needs to be given careful thought.
    In the case of self-managed super funds (SMSFs), it’s very important that you’re clear,
    particularly if you go offshore, [regarding] the issues around who has got control of
    [the] fund.
    If you go offshore and you remain trustees, [the fund] can be deemed non-compliant.
    There are significant risks and [tax] penalties with that.
    Accommodation
    Questions need to be asked on how accommodation is being provided offshore. Will
    the employer be paying for rent and the other associated costs with housing?
    Insurance and health cover
    It is important to consider whether or not the expat’s employer will provide life
    insurance and also private hospital cover, and if so, will it be offered to the entire
    family? Will the cover be adequate?
    Repatriating funds
    Given the volatility of currencies, and the ever-increasing strength of the Australian
    dollar, decisions will need to be made around the timing of sending funds back home.
    ‘If you’ve got the individual being paid offshore and they’re moving funds back to
    Australia, you’ve got to think about how we convert those funds back.
    ‘Do we do it in one hit? Do we dollar cost average it? Who is going to exchange the
    money? Is [the Australian dollar] at all time highs now?’
    Maintaining client discipline
    Abbott stressed it is crucial to ensure that international assignees stay disciplined and
    keep track of their finances while overseas.
    In his experience, a number of expats have displayed a ‘dereliction of responsibilities’
    while on assignment, and consequently, their net worth did not improve after their
    return to Australia.
    ‘There are a lot of attractions [overseas]. It’s very easy to get caught up in the
    extravagant expat lifestyle and then just spin your wheels …’ he said.
    Western Expats Working in Asia-Pacific
    In general, Asia-Pacific countries have relatively low tax rates.
    In countries popular with Australian expats, such as Hong Kong and Singapore, income
    tax rates run at around 15%.
    However, while tax regimes in the Asia-Pacific region are typically lenient, expats need
    to be mindful that they are often required to pay the income tax they owe as a lump
    sum at the end of the financial year, as companies do not deduct income tax
    automatically from payrolls every month.
    Broadly speaking, the financial year in Asia-Pacific countries runs from January through
    till December, so international assignees need to understand that income tax is due to
    be paid generally in January or February.
    So, it’s the cash flow planning that has the most impact on the client, rather than the
    tax laws themselves. If you spend all the money you earn, you could be in trouble
    come tax time.
    Financial Planning Considerations for Expats
    Relocating overseas is a big change and comes with inevitable consequences, such
    as the stresses of blending in with a different culture, dealing with a flood of new tax
    and legal rules, while also having to manage assets back home.
    To assist international assignees with these issues, it is critical to establish a clear
    framework and strategy and an effective financial plan.
    Abbott observed that international assignees face two key challenges — financial
    and lifestyle. Within these two categories, decisions need to be made during three
    critical phases:
    > prior to leaving the home country
    > while offshore
    > prior to returning home.
    While there are definite financial opportunities to be taken advantage of overseas, a
    clear framework must be applied and the timing of the implementation of any
    strategy is critical.
    Asset allocation
    Questions need to be asked on how investments are taxed in both countries and
    whether all investments should be kept in one jurisdiction.
    I look forward to creating a communicative synergistic partnership and uncovering
    opportunities and options that might benefit your current and future financial
    situation.