In contrast to the Stirling, the Australian Dollar is performing well but Director of Halo Financial, David Johnson, says there are still ways to take full advantage of currency spikes and make your money mean more when you emigrate to Australia.

Although we speak the same language (give or take a vowel or two) and drive on the same side of the road, there are very many differences between Australia and Britain. Barbeques in Britain are sporadic and a little damper, Australian prawns would be called lobsters in a British restaurant and thongs are worn on the feet in Australia (don’t ask).

But currently, the other very significant difference between the UK and Australia is where each economy sits in its economic cycle. That’s important because it is directly affecting the value of your funds as you move them from Sterling into Australian Dollars to start your new life Down Under. 

As well as being 10,000 miles apart, Britain and Australia are a world apart in the condition of their respective economies. Technically speaking, Australia didn’t actually fall into recession, unlike the UK which is still in decline; Australia exports a wide variety of raw materials used by manufacturers in the Far East while the UK is largely an importer of far eastern finished goods and Britain’s exporters mainly rely on Europe and America as overseas markets but neither of these economies are completely free from recessionary pressures.

The other major difference is that the Australian authorities only felt compelled to heft AU$20 billion into the economy to avert the impending recession whereas the British authorities have already provided £200 billion of quantitative easing and some 40 billion of bank support.

That gargantuan hole in the books of the UK government and the decades that it will take to balance the books again are very worrying for investors who are steering clear of the Pound and, lured by the high and rising level of interest available on Australian deposits, are investing in Australia in their droves.

Consequently, until there is a seismic change in the state of the UK economy or until other interest countries hike their interest rates sufficiently to compete with Australia, we have to consider any spikes in the Sterling - Australian Dollar exchange rate to be AUD buying opportunities. I tend to agree with Whitney M. Young, Jr. who said “It is better to be prepared for an opportunity and not have one than to have an opportunity and not be prepared.” That preparation in this instance is to make use of the resources available to you.

Be prepared and take advantage of opportunities

Making use of a specialist currency provider like Halo Financial means you will not only know how high the exchange rate is likely to rise and be able to have a target exchange rate monitored on a 24 hour basis but even if that advantageous exchange rate occurs before you are ready to convert your funds, a specialist will be able to help you secure that rate by booking a forward contract for settlement on a date that fits in with your plans.

There are numerous other services that a specialist can offer but which are not generally available from high street banks but the most crucial is the fact that Halo Financial’s clients receive exchange rates which are much closer to the real market prices rather than the bureaux de change type exchange rates or the rather expensive ‘rate for the day’ that many high street banks offer for these kinds of transactions. 

In fact, just like the UK and Australia, it could be said that the services available from banks and currency specialists are worlds apart but at least you don’t have to take a 24 hour flight to test out the services that Halo Financial offers. Those are just a phone call or the click of a mouse away.

- Halo Financial is a leading specialist provider of commercial foreign exchange services for both international business and private individuals who require foreign currency and need expert assistance in successfully managing their foreign exchange exposures. They are a partner of Australian Visa Bureau, an independent company specialising in helping applicants emigrate to Australia.

©Visa Bureau 2003-2009

Visa Bureau takes no responsibility and cannot be held accountable for action taken as a result of any information or comment provided on this blog, and we recommend that you always seek a number of opinions before making a decision regarding your migration or visa application. Please refer to the Visa Bureau terms of use for more information.

If you are planning to immigrate to New Zealand chances are you have been anxiously watching the exchange rates.  Halo Financial Director, David Johnson, looks at the reasons behind the current situation and what we can look forward to in the near future.

There are some very obvious reasons for the Sterling - New Zealand Dollar exchange rate languishing at near 25 year lows.

What is less clear is just what it is going to take to make the Pound rally enough to ease the financial pain of those migrating to New Zealand.

The reasons for NZ Dollar strength largely fall into three camps. Firstly, New Zealand has a base interest rate of 2.5% whilst the UK base rate is just 0.5% and the US, EU, Japan and almost every other industrialised country is keeping its base rate historically low in order to stimulate domestic growth. Consequently, investors can borrow money at virtually zero interest rates elsewhere and invest in Kiwi assets for a guaranteed yield advantage but they need to buy NZ Dollars to do so and that strengthens the currency. 

Secondly, the global recovery is starting on New Zealand’s doorstep in the Far East; creating a very healthy market for NZ exports as evidenced by this month’s improved dairy auction prices. And thirdly, the New Zealand economy has fared far better than equivalent western hemisphere economies during these troubled times and even though unemployment hit a 15 year high last month, most analysts would agree that unemployment lags the recovery and doesn’t alter the fact that NZ is already out of recession.

On the UK side of things, well the Great British Pound is a bit of a misnomer these days. The weakness in Sterling means it can hardly be described as "Great" but it is still British and it is certainly getting pounded. The astronomical size of UK government debt is the main concern because it will take decades for Britain to rid itself of this black hole and the cost of servicing all that debt will weigh on government spending for many years to come. That acts like a trailing anchor on growth and is perhaps one of the reasons why the UK is the only G10 country that has not yet recovered from recession.

In response to this lack of growth, the Bank of England announced a further £25 billion expansion of their cash creation program, a process which goes by the pseudonym "quantitative easing". Now that’s a case of calling a spade a "manually operated soil relocating implement" if ever I saw one.

Room for recovery

So on the face of it, it would seem utter folly to expect the Pound to strengthen against the New Zealand Dollar but we have to remember where this exchange rate was just a year ago. In October 2008, this pair was trading up around NZ$2.90. There was an unexpected spike to NZ$3.00 after the collapse of Lehman Brothers but that lasted no more than a matter of hours. Since then, we have witnessed a slide to NZ$2.13 and we have seen a grinding recovery to NZ$2.30 at the time of writing.

A fall of 77 cents followed by a bounce of just 17 cents would suggest there ought to be more room for recovery. Traders around the globe watch mathematically calculated retracement levels which suggest we ought to see NZ$2.42 and perhaps even NZ$2.51 in the months ahead. The key is not necessarily knowing when this might happen but having the resources to take advantage of such a move whenever it does occur and whether it happens on the very day you need to convert your funds or a few months before all your funds are available.

Take advantage with the right tools

At Halo Financial our role in your migration is to make sure you are aware of the market movements, are able to take advantage of advantageous exchange rate movements and have the tools at your disposal to secure the best exchange rate available within your time frame.  That exchange rate will comfortably better high street bank rates as will the level of service you will receive. So however and whenever the Pound recovers, with Halo Financial as your currency partner, you are in prime position to take advantage.  

- Halo Financial is a leading specialist provider of commercial foreign exchange services for both international business and private individuals who require foreign currency and need expert assistance in successfully managing their foreign exchange exposures. They are a partner of New Zealand Visa Bureau, an independent company specialising in helping applicants emigrate to New Zealand.

©Visa Bureau 2003-2009

Visa Bureau takes no responsibility and cannot be held accountable for action taken as a result of any information or comment provided on this blog, and we recommend that you always seek a number of opinions before making a decision regarding your migration or visa application. Please refer to the Visa Bureau terms of use for more information.

Moving all your possessions across to the other side of the world can be a daunting prospect. But take heart with  professional advice from Hayden Hills of the international moving company Anglo Pacific.

Life presents us with choices every day of our lives, and many of us have a problem deciding which options to take. One of the first decisions we have to make each day is which shirt or top to put on that morning. There are factors which help us make up our mind, like what we are doing that particular day, be it work or leisure related, the weather and what we like the look of and feel comfortable wearing.

If only choosing a mover were that easy. You will be presented with a lot of choice, and unless you have moved internationally before you’ll probably be moving with a company you have never used before. This is sure to make some people wary and apprehensive that their final decision is going to be the right one. After all, you will only really know if your decision was the right one after several weeks, when your worldly possessions are delivered to your new home many thousands of miles away.

Hopefully, this article will help you and your final decision that much easier to make. As long as you follow a few simple rules you can select a company that is experienced and knows what is required to get your home moved safely.

"Start by deciding how many quotes you want to get."

Three to four is really all you need to be able to find the right company for you, and a little research before you contact the movers can save you wasting your time. There are literally thousands of companies offering shipping services, but in reality there are not that many who specialise in overseas moving.

If you check out the websites of any companies you are considering, you should be able to determine where their speciality lies. Most domestic movers and some office movers will say they can move you internationally, but can they? Do they have the specialist packing skills, and will they know how to tackle all the government requirements of exporting from the UK and importing into a foreign country? Maybe they will, but by deciding on a specialist you have a better chance of a successful move.   

The British Association of Removers has an overseas group, and you would be wise ensuring that your chosen moving company is a member of this group. It operates the Advance Payment Guarantee Scheme, which protects your payment if a company in its membership ceases trading. The peace of mind that this gives comes at no cost to you, and there are enough companies offering it that you really don’t need to take any chances by going elsewhere, as there will be a BAR Overseas Bonded company which suits you.

FIDI is an association of international movers, which has about 600 members worldwide. Every FIDI member is an accredited international mover, having had its finances and operational expertise vetted by independent auditors before it is given its FAIM (FIDI Accredited International Mover) kite-mark. You’d be smart looking for a FIDI/FAIM mover, safe in the knowledge that they have a degree of experience some others will not have.         

Before you call potential moving companies, think carefully of some questions to ask them over the phone. Normally, the representative of a company visiting you will be well versed in selling you a service. That person is not usually the person who will actually manage your move, so by asking questions on the phone you will get a good feel for their knowledge and skill and how well the company will look after you.    

"Lastly, be careful not to fall in to the trap of looking for a cheap bargain."

You don’t get "something for nothing", and the best companies will expect to be able to charge you for the level of professional service and expertise they offer. When you are choosing your mover aim to get value for money. The main priority you should have is the safe shipment of your belongings, in a timely manner.

If you would like to find out further information about your household move or like to request for a free no obligation home survey then please visit Anglo Pacific online or call Hayden Hills on 020 8838 8493.

 - Anglo Pacific is a partner of Australian Visa Bureau, an independent company specialising in helping applicants emigrate to Australia.

©Visa Bureau 2003-2009

Visa Bureau takes no responsibility and cannot be held accountable for action taken as a result of any information or comment provided on this blog, and we recommend that you always seek a number of opinions before making a decision regarding your migration or visa application. Please refer to the Visa Bureau terms of use for more information.

Earlier this year, the Australian Government released 4,000 off-list nominations nationwide, which are informally known as 'free kicks'. The off-list nominations are divided equally between the six states and two territories that make up Australia, with each state and territory given 500 of these places to help provide Australian skilled visas and fill gaps in the skilled workforce.

What are 'free kicks'?

Each Australian state and territory has a list of occupations that they can nominate for an Australian Skilled Sponsored Visa (subclass 176) or a Regional Sponsored Visa (subclass 475). Previously, the states and territories were restricted to only being able to nominate occupations on these lists, but with the introduction of off-list state sponsorship, they now have the freedom to nominate 500 'off-list' skilled workers a year.

These 'free kicks' give every state and territory the ability to nominate a certain number of off-list skilled workers for an Australian skilled worker, although the worker must still have an occupation listed on the Skilled Occupations List (SOL).

How are these 'free kicks' allocated?

Applications for the 500 free kicks are assessed on an individual basis, and each state is free to set their own criteria. The 100 point pass-mark on the Australian visa points test still has to be reached for the permanent visa, but it is now possible to be nominated in an occupation that is not listed as in demand.

Importantly for the Australian skilled visa applicant, the state or territory nomination means a quicker route through the immigration process at a time when many migrants have had their general skilled migration applications pushed to the bottom of the pile.

What is the attitude of the various Australian states and territories to 'free kicks' and off-list state sponsorship?

Each state and territory has approached the off-list state sponsorship differently. Western Australia is one state that has a proactive policy towards the off-list nomination initiative, being enthusiastic and transparent in its approach.

Visa Bureau spoke recently to Genelle Surace, a senior migration officer from the Western Australian Government, who helped answer some questions about their policies towards off-list nomination.

What has been Western Australia’s policy towards the 500 off-list nomination initiative?

Genelle Surace: "Western Australia has always had a very open policy towards migration, and this is reflected in our attitude towards the off-list nomination. The off-list nominations are a fantastic tool to attract people to Western Australia, who may not be on our list for State Sponsorship, yet still have skills and experience that are sought after by Western Australian employers. It also allows people who have family in Western Australia to apply for State Sponsorship, and under the current guidelines for priority processing from DIAC, have their visa applications processed."

WA has the fastest growing population than any other state – could this be a result from a more aggressive approach to skilled migration?

Genelle Surace: "Part of the answer to this is attributed to our migration promotions, but with an enviable climate, great job opportunities and long term prospects, Western Australia is a great all-round choice for people to start their new lives in Australia."

Has WA had a good response to the off-list nomination, and has it been encouraged to nominate skills that are not found on the Critical Skills List to give other skilled migrant hopefuls a chance?

Genelle Surace: "Western Australia has had a good response to the off-list nomination, and is nominating occupations that are not on the Critical Skills List (CSL). When assessing an application for off-list nomination, greater consideration is given to applicants who:

• Have a job or offer of employment in Western Australia in a SOL occupation (must be related to the nominated occupation);
• Have established links to the State – having lived, studied or have support in Western Australia;
• Demonstrate that their occupation is in demand in Western Australia; OR
• Are prepared to live and work in a regional area of the State.

Off-list nominations will be assessed on a case-by-case basis and the ability of the applicant to meet Western Australia’s workforce skill shortages."

However, while Western Australia have taken a very open, positive attitude towards off-list state nomination, the case isn't the same for all states and territories.  Look out for a follow-up blog in the next few days where we discuss the attitudes of the other states and territories and the reasons why some choose not to use their 500 'free kicks' at all.

- Stephanie Bradley is Content and Communications Editor for the Australian Visa Bureau

©Visa Bureau 2003-2009

Visa Bureau takes no responsibility and cannot be held accountable for action taken as a result of any information or comment provided on this blog, and we recommend that you always seek a number of opinions before making a decision regarding your migration or visa application. Please refer to the Visa Bureau terms of use for more information.