In this article, we will talk about 12 countries with the best incentives for expats. If you wish to skip our detailed analysis, you can go directly to the 5 Countries With Best Incentives For Expats.
The Cambridge Dictionary defines an expat as “someone who does not live in their own country.” The reasons for moving are diverse and subjective. People leave their countries in search of better opportunities and lifestyles or for better security and safety. You can check out our article on European countries with best healthcare for expats.
A Brief Overview of Global Mobility
Companies incentivize employee relocation to attract better talent. The trend of employee relocation is especially considerable for tech companies. On August 30, Forbes published an article noting that relocation programs can be cost-effective on top of helping companies retain and build a diverse and skilled talent pool and network. Instead of going through the tedious process of finding and training talent, companies can relocate the people that best suit the job description from anywhere in the world. Employee mobility therefore is not only a feasible consideration for growth but also a desirable feature.
Relocation programs offer mutual gain of value for both the company and the hired talent. According to a report by Crown World Mobility, a staggering 82% of businesses said that they had offered relocation programs to retain talent post-pandemic. The pandemic proved that the majority of the roles can be fulfilled remotely and if an employee requests for relocation on a personal account, it is difficult to turn down.
Many distinct industries are growing alongside the popularity of relocation programs and growing numbers of expats, including the global immigration consulting market. According to a report by Valuates Reports, the global immigration consulting services market was valued at $14.2 billion in 2022 and has been estimated to grow to $21.1 billion by 2029 at a compound annual growth rate of 5.73%. Immigration consulting services enable expats to have a smooth transition in line with international rules and regulations. Most companies in the immigration consultancy services market are private, including CD&R, WWICS, and Global Immigration Network.
Clayton, Dubilier & Rice is a private investment firm. The acquisition of PwC’s global mobility tax and immigration services business by the company in 2021 has made it a noteworthy name in the immigration consultancy market, especially for employees moving abroad. The unit offers tax and immigration services. On August 31, CD&R also announced the completion of the acquisition of Focus Financial Partners Inc. Focus provides wealth management services to its clients while maintaining its operational independence. The CEO of Focus said that the company is optimistic about this acquisition as it is the “next chapter of growth and evolution”.
Noteworthy Companies Offering Relocation Assistance
According to the Expat Insider 2023 report, the United States of America is one of the top five countries that host the most expats. The USA offers good prospects for professional growth and has a suitable local job market. Some of the most prominent American companies that offer relocation assistance within and outside the country include Microsoft Corporation (NASDAQ:MSFT), Chevron Corporation (NYSE:CVX), and Apple Inc. (NASDAQ:AAPL).
Microsoft Corporation (NASDAQ:MSFT) is one of the biggest tech companies offering relocation programs for expats. The company facilitates the employees throughout the entire process of relocation, starting from visa and immigration to finding housing and cultural training. Microsoft Corporation (NASDAQ:MSFT) also facilitates its current employees to travel between countries to gain experience and achieve personal growth goals. The company is expanding in new locations as well, which will further help these relocation programs.
On October 24, Reuters reported that Microsoft Corporation (NASDAQ:MSFT) will spend $3.2 billion to expand its artificial intelligence and cloud computing abilities in Australia. The company is aiming to increase its cloud computing capacity in the country by 250%. To keep up with the evolving digital economy in Australia, the company will train 300,000 Australians. The company will promote innovation and growth while increasing its data center footprint in Australia. This would also open the opportunity for mobility for both new and old employees at the company.
Chevron Corporation (NYSE:CVX) is an energy company that specializes in oil and gas. The company also offers relocation assistance for eligible positions. Chevron Corporation (NYSE:CVX) is expanding, and growth helps nurture more prospects for new employees. On October 23, Reuters reported that the company had agreed to buy Hess to keep up with its competitors. Chevron Corporation (NYSE:CVX) aims to achieve energy security through this measure. The all-stock deal was finalized for $53 billion.
Apple Inc. (NASDAQ:AAPL) also offers extensive relocation packages that ease the employee’s transition. Apple Inc. (NASDAQ:AAPL) is also expanding operations to new countries, further adding to the popularity of the world-renowned brand. On October 27, Reuters reported that Apple Inc. (NASDAQ:AAPL) will have a new assembly unit in India operated by the Tata Group. The company aims to boost its growth and shift manufacturing from China to India. By entering new countries and expanding operations, tech companies open doors for new talent seeking to benefit from them.
Tech companies are one of the prime actors in encouraging people to move to new countries. They facilitate the transition of expats, providing them with new opportunities for growth and development. Some countries also encourage people to move there through various programs and policies. We have made a list of the countries with the best incentives for expats to help you make the best decision.
12 Countries With Best Incentives For Expats
Our Methodology
To make our list of the countries with the best incentives for expats, we extracted our data from the Expat Insider 2023 report by InterNations. The report is based on results collected through surveys of almost 12,000 people living across 172 countries and territories. The participants ranked 56 aspects of their lives, including the cost of housing and the quality of medical care. The aspects we have considered for our ranking include healthcare, safety and security, ease of settling in, working abroad, and housing.
We have calculated the average ranking for each country across these 5 factors and narrowed down the list to the top 12 countries. The rankings are out of 53 for each factor. The list is arranged in descending order of the calculated average ranks.
12 Countries With Best Incentives For Expats
12. Thailand
Healthcare Ranking: 9
Safety and Security Ranking: 45
Ease of Settling In Ranking: 11
Working Abroad Ranking: 39
Housing Ranking: 1
Average Ranking Across The Five Factors: 21
Thailand is located in Asia and was ranked the highest for expat housing. Housing in Thailand is the most affordable and easy to find, rent, and buy for expats. Thailand also sees a huge influx of tourists every year. Thailand provides many incentives to expats, including having the same income tax slabs as the Thai citizens. It is one of the most immigrant-friendly countries in the world.
11. Costa Rica
Healthcare Ranking: 26
Safety and Security Ranking: 20
Ease of Settling In Ranking: 7
Working Abroad Ranking: 38
Housing Ranking: 12
Average Ranking Across The Five Factors: 20.6
Costa Rica is located in Central America. The country offers some of the best incentives for expats, especially for people looking to invest in the country or start a business. It ranks higher on the list for ease of settling and for finding good housing.
10. Panama
Healthcare Ranking: 30
Safety and Security Ranking: 28
Ease of Settling In Ranking: 4
Working Abroad Ranking: 30
Housing Ranking: 5
Average Ranking Across The Five Factors: 19.4
Panama is located in Central America and ranks in the top five in ease of settling in and housing. The country has significant tax benefits offered as an incentive to attract foreign investors and expats. The country also offers tourism investment for expats motivated to develop tourism there. It is among the list of easiest countries to immigrate to from the US.
9. Qatar
Healthcare Ranking: 3
Safety and Security Ranking: 16
Ease of Settling In Ranking: 35
Working Abroad Ranking: 17
Housing Ranking: 24
Average Ranking Across The Five Factors: 19
Qatar is located in the Middle East and ranks in the top fifth position for healthcare for expats. One of the most significant aspects that the expats can benefit from is the no-income tax policy of the country. No income tax is levied on the employees regardless of them being an expat or a citizen of the country. It is one of the countries with the most immigrants.
8. Luxembourg
Healthcare Ranking: 5
Safety and Security Ranking: 1
Ease of Settling In Ranking: 34
Working Abroad Ranking: 2
Housing Ranking: 52
Average Ranking Across The Five Factors: 18.8
Luxembourg is a country in Europe and is one of the countries with the best incentives for expats. They have a special tax regime for highly skilled expats who have been relocated by a company in Luxembourg to fulfill a specific role.
7. Oman
Healthcare Ranking: 37
Safety and Security Ranking: 17
Ease of Settling In Ranking: 10
Working Abroad Ranking: 23
Housing Ranking: 4
Average Ranking Across The Five Factors: 18.2
Oman is located in the Middle East and ranks fourth for expat housing. The country offers many incentives for expats, including social protection laws and investment incentives. The country also offers complete ownership of property and exemption from taxes to attract expats, especially to the Muscat Knowledge Oasis Free Zone.
6. Mexico
Healthcare Ranking: 20
Safety and Security Ranking: 41
Ease of Settling In Ranking: 1
Working Abroad Ranking: 22
Housing Ranking: 6
Average Ranking Across The Five Factors: 18
Mexico is located in North America and has been named the top country for expats, according to the InterNation survey. The country offers some of the best incentives for expats, including tax credits and a social security system. Mexico offers tax breaks to boost the Mexican economy to companies willing to relocate there.
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Disclosure: None. 12 Countries With Best Incentives For Expats is originally published on Insider Monkey.
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