What to Do With Your Property Back Home When You Migrate

You have clearly decided to go, and now the home you are leaving needs a plan. It is written for people who want to sell, rent or hold their property back home with their eyes open.

Imagine you are a software developer in Bengaluru. The job offer from Toronto has come through. The visa is stamped. Your parents are proud, and a little quiet.

Then one night you look around the flat you spent years paying for. Who will live here? Who fixes the leak when the rains come? What if the bank freezes the account that pays the loan, and you are eight time zones away?

Most people spend months on the visa and a weekend on the house. Later, the house is the thing that wakes them at three in the morning.

The short answer: Your house, car, savings and pension do not move with you. Each one needs a decision, and most decisions are easier and cheaper before you leave. Choose sell or rent on purpose. Keep one bank account at home open. Leave pensions where they are unless an adviser says otherwise. And sign a power of attorney before you fly, so someone you trust can sign for you.

For residency, treaties and exit tax in detail, see our guide to taxes when you migrate abroad. Tax law changes every year, so read this as how systems work, not advice on your case.

Start with a list, not a decision

Think of it like packing for a long trip. You lay everything on the bed before you choose the suitcase.

List what you own and who else has a claim on it. Skip this and you may find, months later, a forgotten ISA or a joint account that needs both signatures. For each asset, write five things:

• What it is.
• Roughly what it is worth.
• Any debt against it, such as a mortgage or car loan.
• Who else is named on it.
• What happens if you do nothing.

That last one matters most. An empty house does not stay the same. Insurance lapses, the boiler fails, and the overgrown garden tells everyone nobody is home. "Do nothing" is a decision too. Make it on purpose.

Your house: sell or rent?

The case for selling

Selling gives you a clean break and a lump of cash. That cash can fund the move, meet a proof-of-funds requirement for your visa, or become a deposit in your new country. It also ends every duty tied to the house: no mortgage from abroad, no tenants, no repair calls at night, no currency risk on rent.

The cost: you give up the asset and any future growth. You also pay agent fees, legal fees and possibly capital gains tax. If prices at home are rising and your new country is expensive, selling can feel like stepping off a ladder you cannot climb back onto.

The case for renting it out

Renting keeps the asset, keeps you in that market, and brings monthly income. If you are not sure the move will last, a rented house is a way back. The rent can also cover the mortgage, so the house pays for itself while you are away.

But owning a rented house from abroad is like owning a car that someone else drives every day. It still needs repairs, insurance and checks, and you are still responsible when something goes wrong.

The costs are easy to underestimate:

• You become a landlord, with the legal duties that brings at home.
• You will almost certainly need a letting agent. That commonly costs about a tenth to a fifth of the monthly rent, depending on the country and the service.
• You carry empty months, repairs and the risk of a bad tenant.
• Rent is usually taxed where the house is, and often must be reported in your new country too.

A quick way to compare

A middle path is to keep the house empty and secured for a set period, such as the first year, while you decide. But you carry all the cost and get no income, and empty-property insurance costs more. Use it only as a short, planned pause.

If you rent it out: set it up before you go

• Appoint a letting or management agent to find tenants, collect rent, inspect and arrange repairs. Full management costs more, but most overseas landlords need it. Get the fee, the scope and the out-of-hours plan in writing.
• Tell your mortgage lender. A home mortgage often does not allow letting. You may need consent to let or a buy-to-let product. Letting without permission can breach the mortgage.
• Tell your insurer. A normal home policy does not cover a rented house. You need landlord insurance, and cover changes again if the house sits empty between tenants.
• Check the local landlord rules. Many countries require gas and electrical safety certificates, deposit protection, energy standards, and sometimes registration or a licence. These rules follow the house, not you.
• Decide how rent reaches you. Keep a home account open to receive it, and decide when you convert it.

If you sell: watch the tax clock

Selling from abroad is harder. You cannot attend viewings or signings, and your residency on the day of sale can change the tax. Two points matter most.

Main-home relief runs out. In many countries, capital gains rules are generous on your main home while you live in it. They tighten once you move out and let it, or become non-resident. Think of the relief like a parking ticket with a time stamp. It stays valid for a while after you leave, then it expires. The length varies by country. Selling inside that window can be much cheaper than selling two years later. Check it before you decide to "sell later".

Some countries hold back part of the price. When a non-resident sells, the buyer or a notary may keep a percentage and pay it to the tax office. You reclaim any overpayment when you file. It is not an extra tax, but it can be a cash-flow shock.

If a sale is likely, finishing it before you go, or before your residency changes, removes a whole layer of trouble.

Bank accounts and everyday money

Your accounts at home are the plumbing for everything else: the mortgage, the rent, the bills you still pay, the standing orders you forgot. Do not close them in a rush.

Keep a home account open if you can

You will likely need one for rent, bills and the mortgage. Before you leave:

• Tell the bank you are moving. Update your address and give a phone number that will work abroad for security codes. Many accounts are frozen because the bank could not reach a dead number.
• Ask about non-residents. Some banks are relaxed. Others restrict or close accounts, or move you to a non-resident product with different fees. Find out now.
• Test digital access from overseas before you fly, including any app that needs a home SIM.

Opening an account in your new country

You usually need a local address and often a tax number first. Cover the gap in the first weeks with money you can reach and a transfer service set up before you land. Our arrival guides walk through first-week banking and registration by country.

Moving money across borders

For large sums, avoid your bank's default international transfer. The exchange rate margin is often worse than the visible fee. Specialist transfer services usually give a better rate and clearer costs. On a house-sale-sized transfer, the difference can be large. Large transfers may also trigger source-of-funds checks at both ends, so have the paperwork ready.

Investments, pensions and other assets

Investment accounts

Tax-free accounts are usually tied to where you live. Many stop taking new money, or lose their tax benefit, once you are no longer tax resident. You can often keep what is already inside. Some brokers will not keep an account for a non-resident, or limit what you can trade. Ask each provider what happens when you leave. Do not sell in a hurry just to "tidy up" without checking the tax.

Pensions

Leave your pension where it is unless you have a clear reason and specific advice. Moving a pension across borders can trigger tax or remove protections. What you should do is keep it visible: update your contact details, keep the login working, and record the provider and reference somewhere safe. Whether your state pension follows you is a separate question, covered in our guide to pension and social security portability.

Cars and belongings

A car is rarely worth shipping. Freight, import duty and local standards add up, so selling at home and buying locally is often cheaper. Sell what is heavy and replaceable. Ship what is light and meaningful. Our guide to deciding what to ship and what to sell, with shipping methods, real costs and customs rules goes room by room.

A share in a business

If you own part of a business, expect complications. Leaving may trigger an exit tax, and owning or running it from abroad can change where it is taxed. Do not improvise this. Get advice. The exit-tax rules are explained in the taxes-when-you-migrate guide.

The tax that follows your assets

You only need to spot the three ways your assets can create a tax bill.

Three rules cover most cases:

1. Rent is normally taxed where the house is. It often must also be reported in your new country. A double-taxation treaty usually stops you paying twice, but you may still file in both places.
2. Selling your former main home is often relieved from capital gains tax for a limited time after you leave. Then the relief shrinks.
3. Leaving can itself be taxed for shares and business interests, through an exit tax that treats your departure as a sale. It rarely touches an ordinary worker's house and savings.

Keep dated proof of what everything was worth on the day you left, what you paid, and any tax paid. Reliefs and credits depend on these papers.

Power of attorney: the piece everyone forgets

Picture this. You have moved. Your house is for sale or rented. Then a document needs a signature in ink: a sale contract, a mortgage release, a tax form, a tenant dispute. You are on the other side of the world, with a five-hour time difference and no way to reach that office.

A power of attorney (PoA) solves this. It is a legal document that lets someone you trust act for you, within limits you set.

Think of it as a spare key you leave with a trusted neighbour. You decide which doors it opens.

What it can cover

It can be narrow, such as signing the sale of one house, or broad. Most migrants want something in between. Common uses:

• Signing property sale or purchase documents
• Dealing with a mortgage lender or clearing a mortgage on sale
• Managing a rented house and signing tenancy papers
• Running or closing a bank account
• Filing tax returns
• Handling utilities, insurance and other loose ends

Getting it right

• Grant only what is needed. A general PoA is powerful and risky. A specific one is safer and often enough.
• Choose someone trustworthy and easy to reach. This person can act with your money. Pick for reliability, not only closeness.
• Meet the rules where it will be used. That often means a notary, and for use abroad an apostille or consular legalisation so foreign officials accept it. A PoA valid at home but not legalised for abroad can be turned away.
• Sign it before you leave. Doing it at home is far simpler than arranging one from abroad, which may mean an embassy visit and extra legalisation.
• Know how it ends. Learn how to cancel it and when it lapses. Keep the original safe, because some offices insist on seeing it.

If your affairs are not simple, have a solicitor draft or check it.

The feelings nobody lists

A house is not only an asset. It may be where your children took their first steps, or the home your parents helped you buy.

Ask yourself honestly:

• Am I keeping the house because the numbers work, or because selling feels like closing a door?
• Who will I feel I am letting down if I sell?
• If the move goes wrong, do I need a house to come back to, or just enough money to start again?

There are no wrong answers. But knowing which feeling is driving you makes the money decision clearer.

A sequence that works

Start a few months before you leave:

1. List everything you own, with debts, co-owners and "what happens if I do nothing".
2. Decide sell or rent, and check the capital-gains clock either way.
3. If selling, try to finish before you go or before your residency changes. Budget for fees and any non-resident withholding.
4. If renting, appoint an agent, get lender and insurer consent, and confirm local landlord rules.
5. Sort your banking. Keep a home account, update contacts, check the non-resident rules, and set up international transfers.
6. Review investments and pensions with each provider. Get advice on any business stake or exit tax.
7. Sign a power of attorney, scoped to what you need, notarised and legalised for use abroad.
8. Store the evidence. Valuations on your leaving date, purchase records and copies of key documents, somewhere you can reach from abroad.

Our free eligibility check shows which routes fit you, and the compare tool helps you see whether a house sale must fund a deposit somewhere expensive.

Frequently asked questions

Should I sell my house or rent it out when I move abroad?

Sell for a clean break and a lump sum, especially if you need a deposit or proof of funds. Rent to keep the asset and a way back, if the rent covers the mortgage and you can manage from afar.

Can I keep my home-country bank account after I move abroad?

Usually yes, and you will probably want to. Tell the bank you are moving, give an address and a phone number that work abroad, and ask about non-resident rules. Some banks move you to a non-resident product or close the account.

Do I pay tax on rent from my property back home while living abroad?

Rent is normally taxed where the house is, and often reported in your new country too. A treaty usually stops you paying twice. Keep records from day one.

Will I be taxed if I sell my old home after I've emigrated?

Possibly. Many countries relieve gains on your former main home for a limited time after you move out. Selling inside that window can be much cheaper. Some countries also hold back part of the price from non-resident sellers, refundable when you file.

What is a power of attorney and do I need one to migrate?

It lets someone you trust sign documents and deal with property, banks or tax for you while you are abroad. It is not legally required. But if you leave a house, accounts or tax filings behind, it saves you from being stuck. Sign it before you leave, and get it notarised and legalised for use abroad.

Should I move my pension or investments before I go?

Usually not without specific advice. Moving a pension across borders can trigger tax and remove protections. Tax-free investment accounts often stop taking new money once you are non-resident, but you can usually keep what is inside. Ask each provider before you act.

Leave home in good order

Above all, sign a power of attorney before you go. Then, when a document needs your signature and you are far away, someone you trust can pick up the pen, and the home you left stays a quiet asset, not a long-distance worry.