Moving to a new country as an expat can be exciting and terrifying in equal measures. Although you’re leaving behind your life and the security that comes with living in a familiar place, settling abroad can be the beginning of a completely new, exhilarating adventure. Some needs, such as opening a new bank account, often turns out to be one of the big challenges.
Managing your finances wisely while you move around the world comes with a lot of responsibilities and issues.
As an expatriate, your financial position is often complicated, and you will have to make multiple financial decisions in terms of which bank to open an account with, whether to become a non-resident for tax purposes, where to move your investment account, how to access insurance for best healthcare facilities and more.
Through this short story of my expatriation journey I am explaining the importance of achieving the right financial freedom and desired lifestyle, even while migrating.
When we talk about financial inclusion, you might be picturing the world’s poorest nations locked in inflated cash economies, or refugees fleeing from the struggles of their home country. Our current understanding has made us recognise that the issue is far broader than that.
Germany is a vibrant country that is becoming one of the most popular destination in Europe for expats. Being one of Europe’s healthier economy, Germany provides a range of interesting life style and job opportunities across the country.