Who might need to transfer income?

Over the past 2 generations, many nations in the world have become global citizens. Technological advancement, increasing incomes, the reduction of trade barriers and the opening of geographic borders has revolutionized life for the citizens in many nations.

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

Overseas Students

Australia provides a diverse range of study alternatives for international students, with far 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 complete fee paying students in Australia on a student visa as at year-to-date June 2013.

Valuable 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 countries with the biggest number of temporary skilled visa holders in Australia on 30 June 2013 were:

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

Supply: Department 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 choice for numerous Australians. For several it is quick term alternative although, with Australian Bureau of Statistics Social Trends obtaining that In 2010, 80% of those who had planned to leave Australia permanently, did not remain overseas for 12 months or more, and instead returned to Australia.

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

Valuable resources for returning expats: 

http://www.humanservices.gov.au

Those with family members 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 usually the danger that they may possibly run into difficulty – or out of funds. A rapidly and efficient funds transfer service can become essential!

Valuable sources 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 possibly discover an rising quantity of their transactions are getting carried out overseas.

Helpful sources for businesses

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

http://www.austrade.gov.au

Back to International Money Transfers…

Who might need to transfer income?