Tuesday, November 06, 2007

Relocating to Ile Yoruba and other Africa 3: Top 10 Tips

Relocation Tips

1.Culture – Try to find a cultural society for the area that you are considering relocation to. Regular attendance at meetings and events should give you a flavour of foods, fashions, etc. Read widely from the local and national newspapers. Be prepared to be treated as a 'foreigner'. You are advised to keep negative opinions on culture, religion, or language to yourself.

2.Accommodation – You should visit the country for a stay of at least six months in order to explore the community and experience potential property in reas of interest. In short visits, stay in self – contained rental property in order to assess the dynamics of the property markets.

3.Property – Generally, buying may be better than renting. Property markets are dynamic and many transactions are settled in cash, although mortgages are becoming more available. Estate agents will be able to advise on local markets, schools, amenities and business opportunities. Have a lawyer secure and register your certificate of ownership (equivalent to UK freehold) or review rental agreemenrs. Expect to pay 1 year rental deposit and 1 year rent in advance. Negotiate payments in local currency, so as to reduce your foreign exchange risk.

4.Transport – You should plan for a budget car, preferably of Asian make as they tend to be more durable and less expensive to run in spare parts and servicing costs than European models. American models do not generally do well. 4x4 vehicles suffer very heavy consumption of fuel and spare parts on Africa's uneven roads. Diesel fuel may be scarcer than petrol, but can be used with your diesel generator. Some markets, e.g Nigeria, ban importation of cars that are older than 10 years. It may be less troublesome to buy imported cars locally. Original spare parts are often available from authorised dealers at European price levels.

5.Utilities – You should plan for a small diesel generator, unless you are technically able to install renewable energy sources (a strong business opportunity). Plan to install electric water pump and storage tanks. It is safer and less obstrusive to install tanks underground. You will need electric surge stabilisers and uninterruptible power supply units on your electronic equipment.

6.Freight – Try to avoid freight costs on shipping heavy, disposable or fragile personal effects halfway across the world. Rental properties will usually be unfurnished, but it may be worthwhile to patiently visit local craft shops to source for original items in furniture, crockery, toiletries, and art. Do bring your books, medication supplies, computers and and audio-visual equipment. Retail shops stock the usual global brand products, at European price levels. For warranties, buy from authorised dealers.

7.Bureaucracy – You will need to register for taxation and residency. You may need to register car ownership or to vote, procure insurance or medical cover. Local residents are generally helpful to 'foreigners', although you may have to pay price premiums for your elevated status.

8.Employment – When you relocate to Africa, we expect you to create jobs and investments. Recruitment agencies may have employment positions with multinationals and big local firms. There are opportunities to create businesses in almost every economic or social sector. You will generate strong goodwill from efforts to train and support suppliers, customers and employees. When fairly rewarded, Africans generally have a strong work ethic. They are also sensitive to historical injusticies and contemporary trade inequalities.

9.Family – Africans have retained strong family values. Much leisure time is spent visiting with friends and family. Urban residents may travel long distances over weekends and holidays. Informal netwoeks and extended family provide much of the 'safety net' benefits that have been institutionalied and privately capitalised in other countries.

10.Prepare yourself and your family well in advance. In particular, make arrangements for private education, medical care, and independent essential services (transport, water and electricity). Once these are expensed by your private (and hopefully, profitable) business, you may enjoy well, well.

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