Say you found a new job abroad and it’s in a place of which you have always dreamt of going. It’s great, you have the right skill set to do the job properly, and there will be plenty of opportunities to grow in your role. You are already on cloud nine thinking about the fabulous things you are going to do outside work.
You are thinking about the nightlife, road trips and tasting all the local delicacies. Duolingo already fired up on your mobile phone, and your flight is already booked. Are you forgetting something? You might be, here is a list of things that are a bit less exciting, but undeniably important to consider.
Have you looked into visa requirements yet? In most cases, with a job offer in hand, you will be eligible for a worker’s visa, especially if the country has a list of required jobs/fields, and you’re on it. Your future employer will usually help you apply for the visa and provide all the right documentation. This is also a good moment to think about the permanent residence and talk to a migration agent to see if you got all the bases covered.
Taxes, Health Insurance, and Pensions
To avoid any surprises when you get your first paycheck, you might want to look into all the mandatory contributions. Consider mandatory deductions for pension schemes, healthcare, and, obviously, taxes. Some countries require you to take out a basic ‘private’ health insurance.
Also, consider any requirements from the country you are leaving. Think of taxes still owed or health insurance cover. You don’t want to feel that you have covered all bases only to find a letter on your doorstep 2 years in demanding a back pay of taxes from your home country!
Chicken and the Egg
Speaking of a paycheck, the money will have to go somewhere. You will want to open a local bank account. It can be extremely tricky to get the order of things here right as you will usually need some (and usually several) proof(s) of (local) residence to get a bank account (e.g., rental agreement for your home, utility bill, etc.).
Sometimes to get these things, you will need a local bank account. It can be quite tricky. There are some flexible options with getting a virtual bank account that can handle (and more importantly receive) a multitude of currencies that will give some short term relief whilst you sort out a longer-term solution.
Endless List of Costs
Then there is just basic moving and setting up costs. This can run into big numbers quite easily. If you want to reduce the number of things you will have to acquire for your new home, you might want to consider shipping (containers) and removal services.
This will not be cheap. The alternative is you pack light and slowly build up your furniture in the new country. This will also run up a bill in the long run. You will have to do some careful planning and requesting and negotiation of quotes here to find the solution that works for you. What’s most important is to take your time to plan and research all the options as saving things till the last minute will definitely set yourself up for failure.