Located in the heart of Europe, Germany is one of the most sought-after EU-destinations for expats and exchange students. As an Erasmus student, life in Germany can be an exciting adventure and can pave the way for excellent future possibilities
People relocate to Dusseldorf for the money, and they stay for the art. The city also has a thriving nightlife, making it a destination for those who like to work hard and party harder. The city is known for its telecommunications, banking, and advertising sectors where career-focused expats can find their niche.
Frankfurt is the fifth-largest city in Germany. It is rated as an ‘alpha world city’ according to the Globalization and World Cities Research Network. Frankfurt is a global hub for commerce, education, culture, tourism, and transportation. The city is also one of the major financial centers of the European continent. Moving to Frankfurt is advantageous for both expat students and workers.
The Bavarian capital, Munich, is world-famous for the Oktoberfest, a beer celebration attended by over 6 million people every year. Besides being a tourist attraction, the city is also a center growing in appeal for its art culture, technology, and business opportunities.
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.
About 73 million people or 90% of the population of Germany are a part of its statutory health insurance system. With the spread of the COVID-19 pandemic, Germany has brought into effect some digital health reforms. This further support the maintaining of social distancing norms. The Digital Healthcare Act was passed by the parliament. It has sparked a debate on the breach of privacy of German residents.