A Bengaluru couple has moved from India to Luxembourg, Europe for superioir quality life. Prateek Gupta is a senior analyst in Amazon and Neha Maheshwari is a finance manager for a German real estate company. According to this NRI couple, living in India would have given them bigger increments and they could have earned more by moving to the US or Dubai. Prateek said that migrating to countries like the US or Dubai can increase their earnings by 1.5 to 2 times with higher net savings. However, the couple have prioritised the superior quality of life that Europe offers.
Prateek Gupta said “Continuing in India or moving to the US would have given us more career and earning opportunities. But we wanted to taste the superior quality of life, which Europe offers. I wouldn't easily buy a luxury car in India priced over Rs 50 lakh. But these German luxury cars are priced much lower here in Luxembourg and are easily affordable under my income in euros.”
The couple also revealed that the vacations in Europe are also much more affordable for them. “For the same reason, holidays in Europe are affordable as we spend in the same currency we earn in," Prateek further added.
The couple also appreciates Luxembourg's taxation feature of unemployment fund. They contribute 2% of their income to this fund.
Prateek’s wife Neha Maheshwari said, “We have to mandatorily contribute 3% of our individual incomes towards government-sponsored health insurance. At just 3% cost, healthcare is entirely free for us, barring dental care. Under this scheme, if someone is fired, the government pays 80% of the last drawn salary for two years or until they find another job.”
Neha further revealed, “We have to mandatorily contribute 3% of our individual incomes towards government-sponsored health insurance. At just 3% cost, healthcare is entirely free for us, barring dental care.”
The Bengaluru couple has also shared about the tax system in Luxembourg. They shared that they pay almost around 28% of their income in taxes and this amount is low than the tax amount they paid in India. However, they feel that, the services that they receive in return of paying taxes are worth it. This couple has moved to Luxembourg for maintaining a balance between their work, financial stability, and lifestyle.