If you think of relocation to the other country here is a piece of advice. 

Before you will actually start to pack your suitcases, have a seat and think carefully of everything, which you might need at your new place. 

Am I financially prepared?

First of all, are you financially prepared to relocate to the other country. If you are invited for a job in the new country, evaluate how much net income (after all taxes deducted) you will get in the new country. Examine, what taxes are in the new country, which allowances and deductions are available for you. Sometimes, the income might not be so appealing after all, but a new experience or better living conditions worth a relocation.

If you are planning to go to the new country, because it’s more interesting for you to set up a new business, then you have to have an amount of money to cover all relocation expenses, starting the new business, and most importantly, you have to be able to live there until your business will start to generate you some profit. I would say, you look at 2 years of your living current budget, including rental, medical, transportation, insurance, dental, gym and entertainment expenses. That’s all what you need for quality of life, so estimate what you worth, without any deductions or assumptions that you won’t need it in the new country. You never know what you will need, so you will have some budget for that.

If you are a young graduate looking for the new opportunities, just skip the following step and move to the next one. 

Did I prepare to relocate my family?

If you have a family and kids, I would suggest the second important thing to do is to look for the good school for your child. If you are working in the international environment, you will be most presumably thinking of any international school in the new country. Take into account, that most of the international schools are overcrowded and not willing to take the new pupils, so you have to be prepared for that. 

So, look for the best schools in the city you are planning to relocate. Write those schools, which you think are the most appropriate for you child, asking them for the meeting and excursion. In case your communication is successful, plan a trip to see the schools you picked up for your list. The actual visit is very useful, as you might see the place with your own eyes and talk to the school director, feel the atmosphere in the school. In case your child is not the first-grade pupil, it would be great to take him or her to see the place. Furthermore, ask the school before your arrival for the possibility to attend the lessons with the class, in which you child will be transferred in the future.

How does medical system work?

Once you picked up the school, and proved yourself that you are financially feasible, you might need to check on medical services access for foreigners. Some countries require to have an insurance, some provide you with a government insurance if you are employed and the employer is paying insurance contributions. So, it is vital to check what will be available through the insurance and what will not. Where will you go in case of medical need? Is there any hospitals providing foreigners with the medical assistance, in case you don’t speak the language of the country you are going to? That will be all very important once you will need a medical help or get a prescription.

The same issue should be checked for your spouse and children. Sometimes, the regulations may differ, covering only employed person and not the whole family.

Where to settle down in the new city?

In case you don’t have any particular place in mind already, you might base your decision based on your priorities. For example, in case you have a child in the primary school, probably the best choice would be to settle close to the school to avoid traffic and all the complications in the mornings and afternoons. 

On the other side, in case you don’t need to take care of getting your child to the school, you might consider to settle down close to your workplace, which will give you some privilege to get to/from the office quite quickly. 

The other very popular option for living is to choose historical city center. Obviously, all the restaurants, cafes, sightseeing, theaters and cinemas are located in the city center. So, being close to all of them gives you a possibility to enjoy the new city all the way.

What will be the next very important thing?

It really depends on the city and country you are relocating to, but I would say learn the local language (in case you don’t know it). It will not only give you a freedom to communicate freely in the shops, markets, hospitals, or governmental authorities, it will also provide you with the possibility to learn the people, their traditions and will help you to adjust yourself quickly in the new country.

About the Author: Olena Bokan

Financial Advisor, international tax lawyer
olena.bokan@astonground.com
Published On: December 1st, 2020 / Categories: Blog /