Are you entirely comfortable with your living situation, financial responsibility, investment environment, and all other aspects of your life? If not, you are not required to stay where you are!
You have the opportunity to achieve both personal and financial liberation overseas by tapping into new and developing sectors, and developed areas of investment, allowing and encouraging you to diversify your portfolio.
In terms of financial planning, expatriating can be a lucrative step in a fiscally responsible retirement. The cost of living, tax benefits, and quality of life are all reasons to spend your retirement years abroad. At Alpen Partners, we are well versed in the financial planning that goes into retirement. A good retirement plan takes years of careful saving and sound investing to live a carefree life after paid work. By spending your retirement abroad, you are allowing yourself to obtain the most out of all the work you put into saving.
Expatriating doesn’t just have to be a good idea for your wallet. In the realm of your personal life, expatriation allows you to find the lifestyle that works best for you. Germany is one of our favorite destinations for ex-pats. This country is a financial and cultural hotspot for people all over the globe. Let us take a look at just some of what Germany has to offer and how you can make the move today.
For more information about relocating, contact Alpen Partners below.
Why Choose Germany
Germany is a lovely European country that has so to offer, especially for those looking to get a top-notch education.
Our first reason to move to Germany is the bustling entertainment and nightlife. There is so much to see in both big cities, like Berlin and Munich, and neighboring smaller towns. Berlin is one of the most affordable cities in the world and is a hotspot for young artists.
With reliable public transportation throughout the country, it is easy to explore new places. Trains are almost always on time, and there are high-speed rail connections between major cities. Additionally, transit is ver inexpensive, clean, and spacious. In smaller towns, there are reliable busses. Germans and expats are so content using public transportation; many choose not to have a personal vehicle at all.
A third benefit of leaping to Germany is not even in Germany. You will be living in the heart of Europe. The opportunity to travel is vast and accessible. It is inexpensive to take short trips to countries such as Greece, Italy, and more!
Are you a foodie? Germany is the spot for you (unless you do not eat meat). Highly coveted German sausage is literally everywhere in the country, with over 1500 various kinds of wurst or sausage. If sausage is not your favorite, luckily, Germany is one of the most multicultural hotspots in Europe and features some of the most delicious foods.
Two primary reasons people are flocking to Germany from all areas of the world are the cost-free college education and high work standards, plus a world-class medical care system.
Moving to Germany
Each country has its own rules and regulations when it comes to moving in. Some options include residency and citizenship that can be both temporary and permanent. Expatriation may involve acquiring a new passport and renouncing citizenship. Acquiring a new passport or citizenship allows for various investment opportunities, as well as opportunities for travel.
Let us take a look at what it can take to move your life to Germany. Note that this article cannot take the place of proper relocation guidance. If you are serious about taking your life offshore or to a new location, contact Alpen Partners to plan your move with the experts.
For those who want to live in the country long term, the first thing they will want to do, after spending time in the country, is to obtain a residence permit. There are a few different standard permits an indicial can obtain:
- Work Permit
- Training courses/ education permit. This includes being part of a research team ar a university.
- Family reunion
- Former German citizen that would like to return to Germany
After a certain amount of years holding standard residence permits, individuals can apply for a settlement permit, which is Germany’s permanent residency permit. Here is how:
- Hold a standard residence permit for at least five years
- Prove to have more than basic German language proficiency
- Demonstrate financial security and your ability to meet all expenses related to your stay in Germany
- Enroll in an integration course and successfully pass the exam
If you want to renounce your current citizenship or reap the benefits of dual citizenship, there are routes to obtain citizenship in Germany. The first way is through naturalization. Here are the requirements for naturalization:
- Live in Germany on a residence permit for at least eight years, or
- Live in the country on a residence permit for seven years and attended an integration course
- Prove German language proficiency
- Financially able to support yourself and your family
- Prove to be a law-abiding citizen, free of a criminal record
- Pass a citizenship exam
The other two ways to become a German citizen are through the right of blood (Jus Sanguinis) or the right of Soil (Jus Soli).
For those interested in dual citizenship, it is not an easy task. There are only a handful of circumstances where an individual can hold two separate citizenships in Germany. If an individual is:
- From an EU country or the former Soviet Union
- From a country which does not allow you to give up your citizenship
- An ethnic German
- A child of US parents
- In agreement with German authorities to hold a second citizenship
Relocate with the Experts
There are a lot of other aspects of living abroad to consider as well. Banking offshore and how you will file your taxes will need to be considered. Luckily, you don’t have to know all of these regulations and steps. That’s what we’re for.
Taking the leap and leaving your home country can be a big decision with tons of personal and legal steps. The hassle of navigating the legal process of expatriation can be reduced with the guidance of Alpen Partners. Each step requires assistance, including getting the passport, making sure everything is completed correctly regarding taxes, acquiring work permits, making investments, and more. No matter what expatriation route is chosen, it can be a powerful tactic to allow clients to gain better control of their financial and personal lives.