On average, it will cost between $8,000 and $17,000 for one person to move abroad. A couple should set aside between $12,000 and $26,000, while a family with a child should budget between $17,000 and $38,000. These estimates were provided by the immigration company Migranteu, which included in the budget the costs of paperwork, travel, housing rent, and expenses for the first three months of life in the new country.
These estimates apply to relocation based on employment, entrepreneurial activity, remote work, or a standard residence permit program. The total amount does not include the purchase of real estate, investments in the country’s economy, or significant expenses for transporting personal belongings.
What Goes Into the Cost of Relocating
According to an estimate by Migranteu, one of the most significant expense categories is obtaining legal status. Applicants may need to pay government fees, arrange for document translations, apostilles, and legalization, as well as purchase health insurance, obtain certificates, and hire professional assistance.
The second major expense is housing. After moving, you’ll typically need to pay the first month’s rent, a security deposit, and sometimes an agent’s commission. In popular European cities, the amount due upon signing the lease may be equivalent to three or four monthly payments.
The actual amount depends on the country, city, basis for the residence permit, and your accustomed standard of living. Moving to smaller cities in Central or Southern Europe is generally less expensive than settling in major capitals and international business hubs.
Family emigration requires a larger financial reserve
When moving with children, the main expenses are compounded by the costs of transferring school records, arranging insurance, finding more spacious housing, and enrolling a child in school or preschool. Private educational institutions may require an enrollment fee and payment for several months of tuition in advance.
“The main mistake is to calculate only the cost of tickets and apartment rent. After arrival, there are expenses for processing documents, communication, transportation, household purchases, and temporary housing. In addition, obtaining your first local documents or opening a bank account may take longer than planned,” explained Migranteu.
Therefore, experts recommend setting aside a financial reserve covering at least three months. If an applicant is moving without confirmed employment or a stable income from abroad, it is safer to set aside a reserve covering six months.
Where You Can Save Money
Planning ahead helps reduce expenses. It’s more cost-effective to gather documents before departure, since obtaining certificates and powers of attorney from another country may incur additional costs. It’s also best to secure long-term housing in advance, but you should only pay for it after verifying the landlord and the terms of the lease.
You can save money by choosing the right city. Rent outside the capital and tourist centers is often significantly lower, while access to government services, healthcare, and transportation remains comparable.
The budget depends on the purpose of the move
For a digital nomad, the main requirement may be proof of a stable income from abroad. An entrepreneur will also need funds to register and maintain a company. When relocating for work, the employer sometimes covers part of the expenses, while for students, tuition makes up a significant portion of the budget.
Experts at Migranteu note that the cost of emigration should only be calculated after selecting a country and a legal basis for residency. An option that seems inexpensive at first glance may entail significant additional expenses, whereas a more expensive application process sometimes provides clear long-term status and reduces costs after the move.
According to the company’s estimates, the minimum realistic budget for an individual applicant starts at approximately $8,000. For a family, a reasonable guideline would be an amount starting at $20,000, with an additional reserve for unforeseen expenses.