Who may possibly need to transfer money?

More than the past 2 generations, numerous nations in the world have turn into global citizens. Technological advancement, rising incomes, the reduction of trade barriers and the opening of geographic borders has revolutionized life for the citizens in numerous countries.

It has also necessitated the cross-border transfer of funds for a lot of men and women, with The World Bank estimating that in 2012, roughly $ 534 billion worldwide was remitted overseas. So who may need to transfer funds?

Overseas Students

Australia offers a diverse range of study possibilities for international students, with a lot more than 1,200 institutions and more than 22,000 courses to choose from. According to Australian Education International there were 379,214 enrollments by full fee paying students in Australia on a student visa as at year-to-date June 2013.

Useful sources for students: 

http://www.studyinaustralia.gov.au

http://australia.gov.au

Overseas workers

The number of operating holiday maker visa holders in Australia on 30 June 2013 was 160 500, and the quantity of Short-term skilled (subclass 457) visa holders was 191,220.

The 5 countries with the largest number of short-term skilled visa holders in Australia on 30 June 2013 had been:

United Kingdom	45 410 visa holders
India	30 910 visa holders
Ireland	18 500 visa holders
Philippines	12 890 visa holders
United States of America	10 270 visa holders

Source: Department of Immigration and Citizenship

Beneficial sources for overseas workers: 

http://www.immi.gov.au/skilled/

http://australia.gov.au

Returning Expats

Moving overseas, temporarily or permanently, is a well-liked option for a lot of Australians. For several it is quick term choice although, with Australian Bureau of Statistics Social Trends discovering that In 2010, 80% of those who had planned to leave Australia permanently, did not remain overseas for 12 months or a lot more, and instead returned to Australia.

Returning may imply leaving behind investments and savings though, necessitating a standard transfer of funds overseas.

Useful resources for returning expats: 

http://www.humanservices.gov.au

These with loved ones members who are travelling

In the year ended June 2013, Australian residents took 8.4 million quick-term overseas trips. When family members members travel though, there is often the danger that they may run into difficulty – or out of funds. A rapidly and effective cash transfer service can turn out to be essential!

Valuable sources for these with loved ones travelling: 

http://www.smartraveller.gov.au

http://www.dfat.gov.au/embassies.html

Businesses

As commerce goes worldwide, firms may possibly locate an increasing quantity of their transactions are getting carried out overseas.

Useful sources for firms

http://www.enterprise.gov.au/Pages/default.aspx

http://www.austrade.gov.au

Back to International Income Transfers…

Who may possibly need to transfer money?