You may have decided that moving from UK to Switzerland is the best option for you. It may be for your work, your spouse’s work, your children’s education, or simply to be closer to family. Moving from the UK to Switzerland can be overwhelming with so many things to organize and prepare. However, nothing is as overwhelming as the costs of moving to another country.

Moving from the UK to Switzerland can be extremely expensive which is why you need to make a proper calculation of all of your expenses beforehand. You need to make a budget. Your budget should include the costs of moving as well as the costs of setting in a new country. The fact is that moving to another country without having a proper financial plan will have many disastrous consequences.

Before moving from the UK to Switzerland, you should have at least seven to nine months’ worth of living expenses in savings. This is very important in helping you to settle in Switzerland. Without adequate finances, you may fail at building a new life in Switzerland. You should make sure that you can cover the basis costs of housing, food, transportation, education, insurance and utilities for at least seven months before deciding to move to Switzerland.

You should investigate the banking options in Switzerland. Is it possible for you to set-up a bank account before arriving or will you have to set it up once you have arrived? In how far is it possible for you to transfer the funds from your UK account to your new Switzerland account? What are the accepted credit cards and ATM options? What are the interest rates? It may not be possible to open an account before arriving in Switzerland but you can start obtaining all of the necessary information and documentation needed to open your account as soon as possible.

Before moving to Switzerland, you will also want to understand your tax responsibilities so that you can include these costs in your budget. Many people think that they will not need to pay taxes when they move to a new country. Big misconception!