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Moving from the US to the EU soon... Any advice? (sopuli.xyz)

submitted 1 month ago* (last edited 1 month ago) by frank@sopuli.xyz to c/asklemmy@lemmy.ml

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Hi all!

We're very excited to move to Denmark soon as lifelong Americans. I have a good job lined up, and we're set on a place to live for a while.

Any advice from people who have done it, looked it up, had friends who have done it, etc? Just in general :)

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[–] Kazumara@discuss.tchncs.de 20 points 1 month ago (2 children)

Don't bring a truck or guns with you. Change some dollars for euros. Remember that the US has an insane tax system that follows you abroad and you still have to file taxes in the US in addition to the country you live in.

[–] tiredofsametab@fedia.io 5 points 1 month ago

yes, be very careful of PFICs. I can't use any of Japan's versions of ISA/IRA because they all end up being PFICs which are awful to deal with on the US and more than destroy any tax advantage of putting money in them.

[–] Red5@lemmygrad.ml 4 points 1 month ago (1 children)

Those Euros will not be a lot of use in Denmark, a country outside of the Eurozone.

[–] lud@lemm.ee 3 points 1 month ago (1 children)

Does Denmark even use cash at all? In Sweden cash has been pretty much extinct for at least a decade.

[–] toastal@lemmy.ml 2 points 1 month ago

Depressing if true. Using cash lets us keep the transaction out of the records of the government & tech firms.