Financial Planning for Relocating to Europe: Insights from Immigration Lawyers

*This is a collaborative post on insights from immigration lawyers when financial planning for relocating to Europe

As with every start of a year, thoughts of new beginnings might be on the horizon. There is nothing quite as refreshing as packing up and starting a new life elsewhere and relocating to Europe might be just the thing. But as exciting as this might be, the financial involvement of planning any move – especially a move to a totally different region – can be daunting. So where do we start?

Consulting with an European immigration lawyer can give insights on what to consider when planning a big move abroad, from visa fees and other costs, to travel, housing, and establishing long-term residence in Europe. It is always best to be informed and plan ahead to stop unnecessary stressors from distracting from all of the exciting things life in Europe has to offer.

Legal costs and immigration requirements on relocating to Europe

The first step when considering relocating to Europe is to research and prepare for the immigration steps you will need to follow to gain the right to live in the country of your choosing. This will involve figuring out the right visa for you and anyone who might be accompanying you, and understanding the associated fees which often include the main application fee as well as possible charges for translations, additional licences if they are required, or even to expedite your application.

Depending on your circumstances, some visas require individuals who move to Europe from the UK to meet certain financial or income requirements. You will need to show that you have the financial means to support yourself and any dependent family members when living in Europe. The exact thresholds that you might be required to meet depend on your visa and circumstances, and will factor in any children or other relatives who would be relying on your financial care. You should think ahead and consider whether you can support yourself based on your savings, or what type of employment you might be suited to in another country. 

Planning your move

Besides your visa application, one of the biggest financial commitments that can sometimes fly under the radar is the actual cost of moving. Depending on where you’re relocating to in Europe, getting there might not be as easy as loading up your car with all of your belongings and getting everything moved there in a few trips. Moving services can usually provide a pretty reliable service, but you should reach out early and with a good overview of the things that you will be bringing, to get a reliable quote. Decluttering before a move can not only help you find a fresh start but also keep your moving costs down. Consider donating or selling items that you might no longer need.

You might also want to try and find secondhand or cheaper alternatives for your moving supplies. From boxes to bin bags, packing with a little bit of creativity can make sure that you aren’t going over budget just by packing the things you wish to bring to your new life in Europe.

Considering where you will live

Of course, as with any move to any location, you will need to have a place to move to. Depending on Europe, housing availability and prices can vary drastically so it is good to do your research and get a good idea of the area and type of home that you are looking for.

It can be a good idea to try and visit before the big move so that you can get a better feel for the area and avoid any surprises. While this might mean an additional visa application initially, in the long term this could save you a lot of stress. You can always seek help from an European immigration lawyer to help with the visa.

Besides the general costs of renting or buying a house, you should consider whether you can likely maintain secure employment and also consider how much general life may cost you. From grocery costs to leisure activities or even travel to further explore your new surroundings, try to anticipate and budget for the financial components of your new life.

How to get to your new life

Once you have found where you want to move and all of your items are ready, the last big step will of course be to get there. Depending on your area of choice you should consider whether you want to travel by airplane or train. Many areas of Europe are pretty accessible via public means of transport, but you should always make sure to book your travel arrangements well in advance to make sure that you get the best price. Also consider whether your planned date of travel coincides with any holidays or popular vacation seasons, as this might significantly affect the available fares. 

Alternatively, you might decide that instead of taking public transport you want to get to your new life by driving. This is possible, the UK is well connected through ferry services that allow you to bring your car from the UK to the European mainland. However, you should remember that you will need to drive on the other side of the road once in Europe. Driving from the UK to your new home in Europe might not only be exhausting and take several days, depending on your chosen location, but it could also be inconvenient. While you may import a UK-standard car with the appropriate paperwork, switching to a car that matches EU layouts will likely be more useful in the long run. Additionally, you might have more trouble selling your UK car in Europe, meaning that your overall costs might be higher.

Looking forward to long-term residence after relocating

Finally, once all is settled and unpacked, you will need to consider your long-term options. Depending on your circumstances and initial visa, you should try to understand the available avenues that might offer you long-term permission to stay where you are now living. Maintaining a visa will bring interspersed renewal fees, but you might be able to achieve long-term residence and even become naturalised in the future which will put an end to those.