Moving to another country comes with a lot of associated costs, and starting a new region-locked Xbox Live account is one such hassle to bear. Now, Microsoft is making things a bit easier for international trekkers.
All of your current subscriptions, except for Xbox Live Gold if you had any, will be cancelled.
You may lose the ability to re-download some, if not all, of the content in your download history.
Any content that you will subsequently download after the account is migrated will be subject to any applicable geofencing rules of your new location.
“Geofencing” might be the biggest inconvenience here, as it essentially requires you to repurchase contents that’s already been paid for across a regional border. At very least, though, you get to keep your achievements.
Microsoft Support also notes that the migration process can take up to six weeks. So, if you’re planning on making a big move, you’d better hope that your Xbox Live Gold membership will coincidentally run out during that time.