Awesome set of information that not many might be aware of! In hindsight it is funny how you have to explain to people what is good for them, because come on it is so clear how awesome this is! Moreover many of these benefits plus also some student scholarships are not restricted to German citizens but anyone living here 😊
I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks (with the help of my Financial Advisor of course) and made about 246k, but guess what? I put it all back and traded with her again and now I'm rounding up close to a million.
The pandemic came and taught everyone the importance of having multiple stream of income, unfortunately having a nice paying job doesn't mean you are financial secured anymore. So we all need to put in an extra-income earning chance, like investments.
@@davidwallace1052 I agree with you, Covid taught us the importance of having a plan "B" income. You are not safe with just one paying job, when nobody knows what will happen next. Look at what happened to so many of u
@@alejandrodelatorre3860 What is your advice for a new beginner like myself, I have been trying to practice using a demo accounts, but I am scared that I don't know enough to start trading all by myself. What to do next.
@@edwardspencer845 Expert Mrs Brenda Ramirez. She is famous and a registered broker I will recommend her trading service for you. her strategies is amazing and is working perfectly well for me at the moment.
Thank you for this information. This is the reason why i like your video. You provide complete information after doing research and maths. Your efforts are highly appreciated!
Germany has become a joke. All the casual jobs I'm finding pay under 2k netto. 1 bedroom apartment 800+. What do you do with 1200 Euros, you can save peanuts...
It’s exactly as you noticed- there isn’t much German government for single people. On the other hand, I don’t think it’s only Germany- single people are most hated social group all over the world despite us being rather mostly the very good taxpayers. Thank you - anyway very informative video.
dude, I live in Germany for a couple of years, this relief does not affect the financial situation of families significantly, come up paying 30% tax as a family is still high. you see some countries like UAE you can make huge sums money without paying any taxes
@Bahrat in Germany. I watched this video careful and i liked it. So right now i live in Germany with my 2 children. I live in Hannover. I have a question, where can i get this integretion course? And where can i get for children to learn deutsch?
Thanks for the great video Bharat. 👏 The point in the section Switching to private health insurance was not clear for me. What's the benefit in 2023 in that regard?
France also provides some similar assistance, and people do get the money from the government. Maybe not as high or often as Germany or Scandinavian countries, but it's not bad. However, now that you updated about new regulations, seems like German authority has genuinely given attention to attract people to move there. I just hope it is not just IT and Computer science people haha
If you avail kinderfreibetrag, then essentially kindergeld gets nullified. becasue kindergeld is added into your taxable income. So that point is wrong. that kindergeld is free money and tax free. Its either kinderfreibetrag or Kindergeld. not both. This is automatically taken into consideration by your tax office. but in general if you have a higher salary, kinderfreibetrag is what is considered.
Hello Bharat, the calculation that you have shown for Kinderfreibetrag is incorrect. Its an allowance and not a benefit. When it comes to income tax office, they would check if kindergeld or Kinderfreibetrag makes sense for your taxable income. Kindergeld is seen as an advance payment in case kinderfreibetrag seems more favourable for the family. Please check that again as i believe people will be misled
Hi Bharat! Thanks for the informative video. It was really concise and well presented. However, just wanted to let you know of a small error: Kindergeld has been spelt wrong at 1:09. :)
Could you please make a video on german tax returns? Do we get all the amount stated in our Lohnsteur bescheinigung Even as employees? I have heard that most internationals do not aware of it. Would be grateful if you take my question into consideration. So that it will be helpful. Thanks 😊
Thanks a lot for the details. Could you make some comparisons on these same facilities between Germany VS Netherlands? It would really be helpful. Thanks again.
Thank you so much for this insights. Lately, I have been seeing people blindly complain so much about the tax system in Germany. I gladly pay these taxes because the benefits far outweigh the costs.
Nice info! But I am a Bachelor and still pay 43% of my paycheck in taxes in total. Private insurances go up over time, well above over public insurance when you are older. Here are a few extra caviats: Germany still has the one of the highest costs in internet, electricity, gas, water in Europe.
Great and Informative video, but the part discussing the change to private insurance is not clear, it came across as reiterating what is known. Would you elaborate on the change?
Hi i have a question regarding textile like tshirt importing from india to Germany and how can i sell that on Amazon what are the paper requirements and how much tax or import duty or how much i have to pay on Amazon and how can i kleine Gewerbeschein anmelden if it’s possible so every things on detail it would be appreciated thaks
Thank you for the valuable inforamation. You did a really good work👍. I used to live in Dortmund for 14 years. Now i live in brautiful south of Turkey. With this positiv message i might come back to stay.near my aging mother.
Great insights. Thanks for sharing. But if I recall correctly, Kinderfreibetrag and the Kindergeld are mutually exclusive advantages. You get one or the other. Most people only get the Kindergeld as it’s the better option for them. The Kinderfreibetrag is applied to you if that will give you more money per child per month.
Thanks so Bharat. Also I'm from Nigeria, married with a lady who is German citizen. I'm still in Nigeria, but we would like to know how long does it take to get visa from the embassy then go meet my wife? Any idea please
Can you comment what is scope of CFA or Investment banking jobs in Germany? I am in accounting and want to change career and work in Germany. please advise.
Bro Thanks for your video, but I point out that, free tax explained here are usually based on individuals how really get away with it, because majority whom apply for this tax free applications mostly get rejected by tax authorities
Don't Join it. You can easily get admission in Public Universities. You will lost your lots of money in Private Universities. If you want to pay for tution fee in Germany then Go to USA or Canada or UK for study. Don't loose it carelessly.
My friend all is interesting but rent gone crazy high, % loans gone high, apartments cost wildly price like for 50m2 300.000€ so that what people get is good if u have own debt payed house, no loans on cars and can enjoy if u have kids and wife who don’t want divorce and take half for example. But thanks for info.
Thank you so much for sharing this..bharat can you please share more about how to calculate taxes and if the student is eligible to pay tax if they are not earning taxable income.
Hi Bharat, Really informative video specially in this time when so much misinformation are ther about germany. It is highly suggested to do your own research instead of being rely on others one.
Bharat sir this information provided by you is priceless very grateful to hear you I am a class 12th class student and I am planning to study medicine in Germany sir can you tell me how a student can apply to universities who is clueless and i can"t afford any consultancy
I think saying "tax is high in Germany" is a myth or nonsense is not fair. Anyone who is paying close to 40 percent tax is allowed to say they are paying very high tax. That's a fact. Please note that I am not debating the rationale for high taxes or the advantages people with kids get. I just think that it's not fair to say someone's opinion is nonsense when they are paying close to 40 percent tax.
If you pay 40 % tax in Germany you are really rich. Such people can afford a tax consultant who will find out how you can legally pay much less than 40%.
@@travelingonline479 not true... I pay 42% and I am not rich. You can only pay less taxes (reduce you taxable income) if you have expenses related to work. I work as a software engineer in home office and cannot declare any expenses to get money back. 😢
Thanks Bharat for such informative video. I recently moved to Germany and I think this new update on the financial changes would be really helpful to many of us 👍✌
Let's add that you are ENTITLED to receive all these deductions and benefits ON REQUEST. First you have to pay most of the fees and contributions but in the next calender year you can request the deductions by handing in a tax declaration (which quite many people are just too lazy to do). Not handing in a tax declaration is (for most workers) equivalent to donating money to the state. Luckily there exists a bunch of software tools which make filling out a tax declaration close to fun.
Sir I have a random question what if a person adopt a child than also they can get the 250€ allowance? Thank you sir for your such inspiring videos. Your videos give me motivation to come to Germany as fast as I can
Sir need assistance on biochemistry masters course. Can u post some videos from students who did their three years bachelor's degree and studying in germany universities. Please let us know it will be helpful for us
Hi Bharat, If i am single for now, what would be the approx in hand salary for 80000 euros per annum? And also can you please tell what is the general range of salary for software engineer for 8 years of experience? Thanks, would be very glad if you can share some advise.
Hi Bharat ! You have presented the information very well. Kudos 👏 Does the German government give people who are planning to become single parents (by legal adoption) any financial benefits? I have lived in Germany in the past for 3 years & planning for an adoption in India. If things work out well, I may return to Germany.
In America, you can easily convince clients to pay you let's say 10 grands for UX Design services and try doing that in Germany. Americans take risks and they make decisions fasters hence the Sales Cycle is much shorter. Change my mind if you have different experiences.
Bharath: Only people who have not integrated in Germany complain about the taxes. Me: Do you realize you used to have a different opinion on the social system of Germany even though you already had "integrated" in Germany?
I still have a different opinion of social system in Germany when you’re paying 100k€ in taxes on an income of 300k€ - which most people are not who is my audience. Most people are making 40-60k€ and what you get for your money in Germany as a normal employee is incomparable.
Exactly... I am single in Germany and it is kind of bad. Being single means: the highest taxes, you have to pay for accomodation and bills alone while couples share. I don't find it fair.
Since you became German citizen, please don't lure innocent to come to Germany. You are completely biased and you hide all the darkside. Also all your points is not applicable to everyone. I am living with my wife and 2 kids and i know how difficult life is here. I hate the fact if someone decide to leave on their own after understanding it won't work out. You people call them as losers.. i would say if u are not happy in Germany but still you decide to stay here before social pressure or listening to these videos then u will regret over next year's and will become a real loser in life. What I wanted to convey is, if you are happy nobody is stopping you to settle in Germany. But if you are unhappy and you understand life is hard here, please be brave enough to leave the country.. ultimately your health and happiness is more important rather than all.
Unnoticing latest comments...I did write in similar lines what you mentioned here. This guy is bluffing and luring people! People like him were the problem earlier projecting falsely life here , people like him did nothing spread the true sense of abroad!!! I did notice he is just living here because of social pressure!! He is fully biased too...
@@sateeshprathapani totally agree. Normally i have never wrote comments in social media. Buy today i posted a comment here. The struggle of my life for daily routine i still get tears. I came with a f Permanent contract, promoted twice in 3 years, i am still the technical manager with owning crucial roles in developing memory products. Both my kids were going to taggesmutter and kindergarten. My daughter despite 3 years old was not given kindergarten because of skilled worker shortage. My son didn't get a full day school..No school van pickup so daily have to run around to pickup and drop my kids to and fro to school. Imagine doing it in cold weather. My wife was also well integrated here. Completed integration course and B1 telc certified..was pursuing B2 course and also got a job as software engineer 6 months initial contract. But we can't manage life both working and with 2 kids. She stopped once again for family welfare. She was a successful software engineer in BNY Mellon India before she moved to Germany trusting me for a better life. Later we also say our daughter struggling because the taggesmutter was toxic. Since after so hard we found 1 taggesmutter we are hoping it will work out well. We gave 3 months of try but once we saw behaviour change in my daughter my wife decided to leave her job and took care of my daughter at home and we stopped sending to taggesmutter.I even wrote an feedback email to kindergagespflege person. We didn't have any more options for my daughter because of demand . That's the most annoying part not having options. Also my son despite attending 2 years of kindergarten and speaking good German they still took him in a school where they focussed on German language rather grade 1 subjects. They were saying to me he is still struggling to make friends after 1 year of school. He is sometimes alone during breaks and doesn't have 1 close friend although he is friendly with all.. I sat and talked to him for a week to understand him better. He told me there are 2 groups there one is German or European and another are arabisch group. For him he told i am friendly with all but i am happy in kindergarten but not in school.. he mentioned in kindergarten he had good friends and lot of people wrote slambook for him. The kindergarten teacher was so happy with him everyday.. so i understood somewhere language, ethnicity playing a big role in my child life. I literally was burnout and frustrated so many days not able to handle daily life. Not worth the pain doesn't matter which part of the world. Then thought an ebike would help which didn't. Then thought a car would help which didn't. Deep down the heart i understood happiness, health and kids future is more important than me staying abroad to make myself and my family happy. So finally decided to move my family back after 3+ years here. I am still working since my company providing full support here. He only talks about 250 euro for each child.. 2 child is awesome. But how difficult is to raise 2 child people in India don't know while coming. Life is not easy here guys especially with family and 2 kids. Kids will get 2 weeks leave every 45 days once and also 6 weeks summer vacation etc. Literally both working in this cold country is truly challenging. Also keep in mind kids feel sick more frequently during winter days which will put the family under pressure Guys I am eligible for PR, but i didn't even apply. It's all a paper or bureaucracy stuff. You have to decide what's good for you and family.. never go with the flow either it's negative or positive.
@@azhagarasans7532its the reality! Thank you sharing your detailed experience and practical struggles here. Let's hope someone reads our genuine comments not believing this bluffmaster. All the best with your relocation.
Seems you came with a false expectations of life in the west. Glad you found your path. I’m British on Indian subcontinent decent. The life is tough, we have to do everything, we grow up doing that with little support. Mainly everyone needs to their homework before they decide what’s right for them. The decision might change after experiencing it, but it’s going to make you stronger, resilient and grow through the learning. Wishing you and family well in your new set up.
Hello Bharath, Thanks a lot for your time and effort. I want to ask if you could share any ways to earn extra money with fixed job other than investments. Please let me know
