Point of origin | Aramco ExPats

JonMc
Newbie

Posts: 7

Point of origin Dec 11, 2014 13:03:32 GMT

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Post by JonMc on Dec 11, 2014 13:03:32 GMT

I have had a good look around the sight and the details I have been provided by Aramco and I cannot get a clear idea of the implications for Point of Origin.

I have lived and worked in the UK for 30 years but am an Irish citizen, as such that makes my point of origin Ireland (Dublin). I understand that is where I would have to fly from when I relocate and I have no issue with that. However, does having Ireland as a point of origin mean:

- That my stuff has to come from Ireland - documentation I have seen implies this which would be a real hassle as I would have to transport it all from the UK to Ireland before it gets shipped.

- Much more critical, my protected exchange rate - if point of origin is Ireland does that mean it would be a $/euro protected rate (which would be useless to me) and not a $/£ one?

As it happens as soon as I got the offer I put in an application to get a British passport (and hence have dual nationality).

I have checked with my relocation adviser and been told Ireland has to be my point of origin (really makes no sense to me as I no longer have many links to the country)

(In the UK the rise of a party called UKIP is constantly harping on about leaving the EU, hence I want to have UK citizenship in case this happens so I have no issues returning.)

lonestartexas
Member

Posts: 41

Point of origin Dec 12, 2014 16:01:58 GMT

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Post by lonestartexas on Dec 12, 2014 16:01:58 GMT

Can't speak for EU payrolls but I am Canadian living in Texas and my Point of Origin is Texas. Check with your recruiter if RA insists. Agree with u it does not make sense. As long as u r offered as British payroll the currency protection part should be fine, my opinion.

JonMc
Newbie

Posts: 7

Point of origin Dec 12, 2014 17:15:12 GMT

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Post by JonMc on Dec 12, 2014 17:15:12 GMT

Lonestartexas - ta for the response

I seem to have had some good news and have been told regardless of whether my point of origin is in the UK or in Ireland I can choose whether to have Euro or Sterling protection.

I was told that verbally so I have emailed asking them to confirm my understanding and when I have to choose which to get protected (seems a bit odd as it does allow me to choose whichever currency is weakest against the dollar at the time).

But positive news

Wedge
Member

Posts: 11

Point of origin Dec 13, 2014 9:10:34 GMT

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Post by Wedge on Dec 13, 2014 9:10:34 GMT

Hi Jon

Coming from the UK/Ireland you'll likely be on the Global Payroll scheme and be paid in dollars as per your contract. Of course this dollar amount won't fluctuate, no matter what the exchange rates are doing.

You can then choose which bank account(s) you're salary is paid in to and it will be converted accordingly e.g. in to your home country GBP account and your local Saudi SAR account. You can change the split on a monthly basis.

I'm not sure which exchange rates are used to make these conversions but a fellow new start told me that he was told that exchange rates are set and fixed every couple of years.

Cheers

JonMc
Newbie

Posts: 7

Point of origin Dec 15, 2014 9:19:01 GMT

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Post by JonMc on Dec 15, 2014 9:19:01 GMT

Wedge - thanks for your reply, from my contract I am on the Global Payroll.

I think I will get this ironed out at my relocation orientation as I do not feel I can ask the same question again now I have been given a seemingly different answer (i.e. that I can choose my protected exchange rate (documents I have states it remains the same for my whole career at Aramco) as what you are saying does make more sense to me)