Who may possibly require to transfer funds?

Over the past 2 generations, many nations in the planet have turn out to be international citizens. Technological advancement, rising incomes, the reduction of trade barriers and the opening of geographic borders has revolutionized life for the citizens in several countries.

It has also necessitated the cross-border transfer of income for several individuals, with The Planet Bank estimating that in 2012, approximately $ 534 billion worldwide was remitted overseas. So who may need to transfer money?

Overseas Students

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

Helpful 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 Temporary skilled (subclass 457) visa holders was 191,220.

The 5 nations with the biggest quantity of temporary 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: Division of Immigration and Citizenship

Useful 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 selection for numerous Australians. For a lot of it is short term choice although, with Australian Bureau of Statistics Social Trends finding that In 2010, 80% of these who had planned to leave Australia permanently, did not keep overseas for 12 months or far more, and instead returned to Australia.

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

Beneficial resources for returning expats: 

http://www.humanservices.gov.au

These with household members who are travelling

In the year ended June 2013, Australian residents took 74 million short-term overseas trips. When family members members travel even though, there is always the danger that they may well run into problems – or out of funds. A fast and effective money transfer service can become vital!

Useful resources for those with loved ones travelling: 

http://www.smartraveller.gov.au

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

Businesses

As commerce goes worldwide, organizations may locate an escalating quantity of their transactions are being carried out overseas.

Helpful sources for firms

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

http://www.austrade.gov.au

Back to International Money Transfers…

Who may possibly require to transfer funds?