5 Common Challenges Faced by New High Net Worth Immigrants

challenges faced by new high net worth immigrants image

5 Common Challenges Faced by New High Net Worth Immigrants

As a high net worth immigrant moving to a new country, you’ll be able to bypass certain challenges faced by the majority of immigrants.

 

Challenges like finding a job with fair wages, for example, or a low-cost apartment don’t apply to you because you’ve already got your income streams set up, and you have enough income to know you can afford a decent place to live.

 

There are, however, certain challenges faced by all first generation immigrants at every income level just based on the simple fact that you’re new to a country and the way it operates.

 

Fortunately, a lot of them can be overcome within a number of weeks or months, but being able to prepare for them ahead of time will help you get past them more quickly.

 

  1. Finding a Place to Live

If you’re doing a government investment program in real estate, this may not be so much of a problem… especially if that real estate purchase is residential.

 

But if you’ve already landed in a country and want to find a place to rent or buy ASAP, it can be hard.

 

Chances are, you’re probably not a citizen yet, so you won’t have a police history for realtors and landlords to check on. You also won’t have any of the naturalized documents or personal identification numbers most financial systems are built around and depend on for such important financial interactions.

 

To solve this problem, though, try looking for real estate agents that specialize in helping immigrants and resident foreigners secure housing. They’ll be familiar with the things that need to be done and the documents you really need to show landlords and banks to secure your purchase or your renting contract safely.

 

If you’re not sure where to start, get in touch with local expat communities as soon as possible and start asking for suggestions.

 

  1. Transportation

Sure, you can buy a car when you arrive, but you’ll probably face some of the same difficulties as buying or renting a place to live.

 

You’ll most likely need a local driver’s license, because even though an international license should work, a lot of local governments won’t accept them… especially when they’re issued in countries where they know road rules and traffic laws are not very strict.

 

Getting a license can often involve taking a driving class and studying for a test… which isn’t difficult, but it does take time.

 

Until then, you may want to consider staying in a city with decent public transportation or allocate a budget for cabs so you’re not tied to one location.

 

  1. Learning the Language

If you let it, learning a new language can be the bane of your existence when you immigrate to a new country.

 

Fortunately, most of the countries we work with are very English-friendly in the metropolitan areas, but in some smaller villages, that may not always be the case.

 

When you’re learning a new language, you’re almost guaranteed to make a fool of yourself in public multiple times, and it can be hard not to let those little failures discourage you from your overall goal.

 

Many local colleges or universities will offer language classes for foreigners and immigrants, but if those are inconvenient, hire a tutor or use a computer program like Rosetta Stone or Duolingo to get speaking well as quickly as possible.

 

  1. Children Catching Up in School

Most school systems place students in grade levels based on age rather than skill level or intelligence.

 

And since no nation’s school system is exactly like another, you might find that your children are either ahead or behind their age-level peers in different subject areas.

 

So they might feel bored if they’re ahead, or they might feel behind and be totally frustrated.

 

And this is worse if the classes are taught in a language that your children don’t fully understand yet.

 

The problem can be solved with a tutor or convincing the school system to place your child in a different grade level, but at first it can be quite difficult to deal with.

 

If you want to make sure your children are prepared at the right level for their new schools, you can research the curriculum standards for children at their age-related grade level and hire a tutor to catch them up on those subject areas, if needed.

 

Another way though, and probably the most important thing, is to make sure your children have a high communication level in the language their classes will be taught in, so language classes before you move would be a good investment.

 

  1. Cultural Differences & Preconceived Notions

As much as we like to believe that our world is moving toward a state of greater acceptance with a love of diversity, there’s still instances every day that show us we still have preconceived notions to get over.

 

And this can be frustrating to deal with when you’re the one from a different, less understood cultural background.

 

And it will take a lot of time for even your closest friends and colleagues in your new country to fully understand you—and the truth is, they may not ever understand you.

 

It’s easy to get wound up over these cultural frustrations, but it does help to remind yourself that most people’s concerns and questions do come from a good place inside them, and they are genuinely trying to be kind to you.

 

It does help, though, to connect yourself with a group of other immigrants or resident foreigners so you can help each other through these misunderstandings and be able to talk to someone who else who does truly understand you.

 

These Short-Term Challenges Pay Off in the Long Run

Though these challenges can be hard to deal with at times, as a first generation immigrant myself, I can say that they’re definitely worth the long-term payoff of having a second passport and the ability to live in the country of my choice.

 

If moving overseas or securing a second passport is something you’re interested in trying for yourself, get in touch with us via the button below. (We’ll be back in touch before the end of the next business day.)

 

Our services walk you through the application and immigration process step-by-step, and we’re happy to give you any advice you need at any stage to help you overcome your challenges. You can get in touch for a free conversation with our Logistics Director, and it doesn’t create any obligation for you to work with us later if you don’t feel like it’s a good fit.

 

Get Second Passport Information