als-arzt-auswandern
als-arzt-auswandern
als-arzt-auswandern
Sell Everything and Emigrate: Your Fresh Start to Freedom!
The thought of selling everything and emigrating is exciting. However, before you take the plunge, there are some things to consider. From correctly taxing your proceeds to organising your move – we guide you step by step. Would you like to learn more about how GoMovin can support you in your emigration? Get in touch here for personalised advice.
The topic short and concise
The thought of selling everything and emigrating is exciting. However, before you take the plunge, there are some things to consider. From correctly taxing your proceeds to organising your move – we guide you step by step. Would you like to learn more about how GoMovin can support you in your emigration? Get in touch here for personalised advice.
The thought of selling everything and emigrating is exciting. However, before you take the plunge, there are some things to consider. From correctly taxing your proceeds to organising your move – we guide you step by step. Would you like to learn more about how GoMovin can support you in your emigration? Get in touch here for personalised advice.
The thought of selling everything and emigrating is exciting. However, before you take the plunge, there are some things to consider. From correctly taxing your proceeds to organising your move – we guide you step by step. Would you like to learn more about how GoMovin can support you in your emigration? Get in touch here for personalised advice.
Do you dream of leaving everything behind and starting afresh abroad? This article shows you how to sell your possessions effectively, avoid tax pitfalls, and successfully make your emigration dream come true.
The idea of selling everything and emigrating is often driven by the prospect of a better life abroad. However, behind the romance of sunny beaches and new cultures lies a reality that requires careful planning and realistic expectations. At GoMovin, we understand that such a move is more than just a change of scenery. It is a profound transformation that encompasses both personal and financial aspects.
Introduction: More than just a change of scenery
Many people dream of living abroad, whether to escape everyday life, seek new career opportunities, or simply take the plunge into a fresh start. The notion of a carefree existence in a supposed paradise is tempting, yet it is important to realise that challenges and problems also exist abroad. Therefore, having realistic expectations is crucial to the success of your emigration project. The brochure Basic Knowledge for Your Step Abroad from the Federal Office of Administration provides valuable information for this.
Why people sell everything and emigrate
The motives for the decision to sell everything and emigrate are varied. Often personal reasons play a role, such as dissatisfaction with the current living situation or the desire for adventure and personal development. Some see emigration as an escape from problems or an opportunity for a completely fresh start. It is important to honestly reflect on these motives in order to make the right decisions for the future. In addition to personal motives, societal and economic factors can also play a role. Political instability or economic uncertainty in the home country can be triggers, as can attractive job offers or better living conditions abroad. Our property search helps you quickly settle into your new home.
Emigration: Financial planning minimizes risks
Proper preparation is essential for a successful move abroad. This is particularly true for financial planning. It is not enough to just keep an eye on the travel budget. The sale of property such as a house, car, and furniture must be carefully planned and executed. The decision to sell or store your possessions should be well considered.
Financial Planning: More Than Just the Travel Budget
Selling property is an important step in establishing the financial base for a fresh start abroad. Timing is crucial in this process. It is advisable to start planning 4-6 months in advance to have sufficient time for marketing and selling. Use online marketplaces, flea markets, or professional agents to achieve the best possible price. Careful documentation of all sales is important for budget control. Our support in purchasing a house abroad can help you stay on top of things.
Tax Aspects: Exit Tax and De-Taxing
When emigrating, tax aspects must also be considered. In particular, the exit tax and de-taxing can become relevant. The exit tax affects shareholders with a stake of at least 1% in a corporation. De-taxing is mainly relevant for self-employed individuals. However, there are ways to avoid or reduce the tax burden, for example through GmbH & Co. KG structures or the gifting of shares. Early tax planning is therefore essential.
Banking Matters: Accounts, Credit Cards, Money Transfers
Banking matters should also be settled in a timely manner. Inform your bank about your international travel plans to avoid card blocks. Ensure you have enough money in an accessible foreign account. GoMovin assists you with relocation support, allowing you to focus on the important things.
Emigrating: Digital documents secure a fresh start
In addition to financial planning, the organisation of important documents is also crucial for a smooth transition to your new life abroad. Digital backups are essential for quick access to critical information in case of an emergency. At GoMovin, we recommend digitising all relevant documents and securely storing them in the cloud.
Organisation and Documents: Digital Backups are a Must
Scan all important documents such as your passport, visa, birth certificate, and marriage certificate and store them in a cloud storage. This ensures you have access to your documents at any time, from anywhere. This is particularly important if original documents are lost or stolen. A checklist for emigrating should include this.
Cancellations and Re-registrations: What Needs to be Done?
Before emigrating, numerous cancellations and re-registrations need to be completed. These include rental contracts, insurance policies, subscriptions, and memberships. Also, inform authorities about your departure and obtain a certificate of deregistration. A comprehensive checklist helps ensure you don’t forget anything.
Logistics: What to Take and What to Sell?
Deciding what to take and what to sell is often challenging. Carefully consider what you truly need abroad. Take into account the costs of container shipping, which can vary depending on the destination and volume. A user in the America forum mentioned costs of around 8000 euros in 2009. Also check whether transporting electronic devices is worthwhile, as there may be issues with plug compatibility.
Luggage: Weight Check Before Departure
To avoid excess luggage fees, weigh your luggage before departure. Familiarise yourself with your airline's weight restrictions and pack accordingly.
Exit Tax: Shareholders Optimise Tax Burden
The exit tax is an important aspect that shareholders need to consider when emigrating. At GoMovin, we explain the details and show you ways to optimise your tax burden.
Exit Tax in Detail
The exit tax affects shareholders with a stake of at least 1% in a corporation. It becomes due when the shareholder relocates their residence abroad, depriving the German tax authorities of the ability to tax the appreciation in value of the shares.
Who is affected?
Shareholders with a stake of at least 1% in a corporation
Calculation Basis
The basis for calculating the exit tax is the notional sale of the shares at market value. The gain (market value minus acquisition costs) is taxed at 60% of the individual tax rate.
Tax Planning Options
There are various ways to avoid or reduce the exit tax. These include converting the company into a partnership, leasing out the business, or allocating assets to a domestic permanent establishment. Individual advice from a tax advisor is advisable.
Exit tax: Self-employed plan asset transfer
Even for the self-employed, tax planning when emigrating is of great significance. The exit tax can have substantial effects on business assets. We at GoMovin are here to help you make the right decisions.
Exit Tax for the Self-Employed
The exit tax is payable when business assets are transferred abroad. This means the German state loses the opportunity to tax the increase in the value of the assets.
What is taxed?
Transfer of business assets abroad
Basis of Assessment
The basis of assessment for the exit tax is the difference between the market value and the book value of the transferred assets.
Tax Planning Opportunities
There are also planning opportunities with the exit tax to reduce the tax burden. These include converting the business into a partnership, leasing the business, or allocating assets to a domestic permanent establishment. Careful planning is crucial.
Emigrating: Fostering Realistic Expectations for Success
The reality in the so-called paradise can often look different than expected. It is important to be aware of this and to have realistic expectations. We at GoMovin want to help you avoid disappointments.
Expectations vs. Reality
Many expatriates envision life abroad as carefree and idyllic. However, personal problems travel with you and are not simply solved by moving. It is important to be aware of this and to prepare for the challenges that will come your way. The author of the article Emigrating to Paradise shares her experiences in Costa Rica and the unexpected problems she was confronted with there.
Personal Problems Travel With You
Problems are not simply solved by moving
Unexpected Challenges on Site
Unexpected challenges can also arise on site, such as illegal business practices, drug use, or social dynamics. It is important to inform yourself about local conditions and be prepared for them.
Adjustment Difficulties and Culture Shock
Adjustment difficulties and culture shock are common side effects of emigration. Language barriers and cultural differences can make integration difficult. Homesickness and isolation can also occur. It is important to seek support and actively integrate into the new environment.
Emigrating: Renting Ensures Flexibility
Not always is a complete sale the best option. Renting out a house or apartment can be an attractive alternative to maintaining flexibility and generating income. At GoMovin, we show you the advantages and disadvantages.
Renting Instead of Selling
Renting out a house or apartment offers the possibility to generate income while keeping the option to return open. This can be particularly meaningful if you're unsure about staying abroad permanently.
Rent Out House or Apartment
Advantages: Generate income, keep the option to return open
Disadvantages: Administrative burden, tenant issues
Partial Move
A partial move can also be an option. Instead of selling everything, you can store some of your belongings. This way, you have the opportunity to decide later what you really need. However, consider the storage costs.
Emigrating: Success Factors for a Fulfilling Life
There are numerous success stories of emigrants who found happiness abroad. However, there are also negative examples where the dream turned into a nightmare. At GoMovin, we show you what you can learn from both sides.
Success Stories and Pitfalls
Positive examples show that careful planning, realistic expectations, and openness to new experiences are crucial for success. Negative examples highlight that inadequate preparation, unrealistic expectations, and a lack of language skills can lead to problems.
Positive Examples: Emigrants Who Found Happiness
What did they do right?
Careful planning, realistic expectations, openness to new experiences
Negative Examples: When the Dream Turns into a Nightmare
Common mistakes and how to avoid them
Inadequate preparation, unrealistic expectations, lack of language skills
Emigrating: Planning Ensures Your Successful New Start
Selling everything and emigrating is a big step that requires careful consideration. However, with realistic expectations, thorough planning, and financial security, you can successfully make your dream come true. We at GoMovin are here to support you along the way.
Conclusion: Emigrating requires careful consideration
The key elements for a successful emigration are realistic expectations, thorough planning, and financial security. Gather comprehensive information, plan early, and seek professional assistance to realise your dream of living abroad.
The key points summarised
Realistic expectations, thorough planning, financial security
Outlook: The future of emigrating
Globalisation and the increasing interconnectedness of the world make emigrating easier than ever. Trends like digital nomadism and remote work open up new possibilities for life abroad. Flexibility and adaptability are crucial success factors in this regard.
Are you dreaming of a fresh start abroad? GoMovin supports you every step of the way – from planning to arrival. We offer an all-in-one solution for international relocations with personal consultation, legal support, property services, and cultural integration. Contact us today to start your personalised consultation and successfully realise your emigration dream. We look forward to accompanying you on your journey!
Further useful links
The Federal Office of Administration offers valuable information for planning your emigration project with the brochure 'Basic Knowledge for Your Step Abroad'.
FAQ
Which tax aspects must I consider when emigrating?
When emigrating, the exit tax (for shareholders) and the de-taxation tax (for self-employed individuals) are particularly relevant. Early tax planning is essential to minimise the tax burden.
How far in advance should I start planning my move?
It is advisable to start planning 4-6 months in advance, particularly for the sale of property. This gives you enough time to market and sell at the best possible price.
What should I consider when selling my possessions?
Use online marketplaces, flea markets or professional brokers to achieve the best possible price. Carefully document all sales for budget control.
Which documents should I digitise and store in the cloud?
Scan all important documents like your passport, visa, birth certificate and marriage certificate and store them in cloud storage. This way, you have access to your documents anytime and from anywhere.
How do I inform my bank about my emigration?
Inform your bank in good time about your international travel plans to avoid card blockages. Ensure you have sufficient funds in an accessible foreign account.
What can I do if I'm not yet sure whether I want to stay abroad permanently?
Renting out your house or flat offers the opportunity to generate income while keeping the option to return open. A partial move with storage of possessions can also be an option.
What role do realistic expectations play in emigrating?
Many emigrants envision life abroad as carefree. However, personal problems travel with you. It's important to be aware of this and prepare for the challenges.
How can GoMovin help me with emigrating?
GoMovin offers a comprehensive solution for international moves with personal advice, legal support, real estate services, and cultural integration. We support you every step of the way – from planning to arrival.
