There are often tax advantages to a move overseas, with the likes of Dubai and the Cayman Islands having no personal tax. Asia and the Channel Islands also offer tax advantages. With pay at similar or sometimes higher rates than UK bandings and lower tax rates, lawyers can significantly increase their take-home salary.
Lifestyle considerations also play a part. Australia is attractive for its outdoor lifestyle, beautiful beaches and is now, thanks to significant growth, very attractive from a salary perspective too. A number of jurisdictions offer a greatly improved lifestyle relative to the UK in terms of the commute to the office, housing affordability and weather. Most lawyers in Hong Kong live less than 15 minutes from the office, and the same is true in offshore jurisdictions such as the British Virgin Islands and Jersey.
An international move is also a great adventure. It is the chance to discover new places, different cultures and expand your horizons. The fact that you can do this while advancing your career and earning a good salary, makes it very desirable. Most employers also offer a relocation package, making it incredibly easy to make the move.
The main international markets where there is an appetitive for UK lawyers are:
• Asia (Hong Kong, Singapore and Tokyo)
• The Middle East (Dubai, Abu Dhabi, Qatar, Bahrain and Saudi Arabia)
• The Caribbean (the Cayman Islands and British Virgin Islands)
• Australia (Sydney, Melbourne, Perth and Brisbane)
• New Zealand (Auckland)
• Continental Europe (Russia, France and Belgium)
• The Channel Islands (Jersey and Guernsey)