Exciting to study abroad
Simon Hallen is 21 years old and has studied abroad for two years. He was first in Belgium, and now he studies arts and culture in Maastricht, the Netherlands. Studying abroad was exciting, and that was one of the reasons he went.
– I thought about a little different places, for example Great Britain. But in the end the Netherlands was the Netherlands, in part because studying there is not very expensive.
Financing a stay abroad
In Maastricht, Simon lives in a student room. He finances it all with the help of loans and grants from CSN, including the Cost Plus Loan. In addition, he also worked.
– I was a cleaner in a resort in the Netherlands, and the salary was quite good.
However, in order to work, Simon first had to obtain a Dutch BSN, a type of social security number used to contact the authorities, for example when you have to pay taxes or need healthcare.
However, finding work in the Netherlands was not difficult.
– There were quite a few structures that help students find jobs. websites for example. University in Maastricht is very important to the city, so there are many opportunities.
important to memorize
And in line with rising inflation, prices are rising everywhere in Europe, which is of course something Simon also noticed in the Netherlands. At first he was completely financially free, he says, but it got tougher in line with inflation.
– I’ve had to try to live a little cheaper, take fewer trips, for example. I also bought some used stuff.
It is smart, he contends, to try to be frugal.
– If I had to do it again, I’d probably try to save more money. For example, you bought a fairly expensive bike, and it was not necessary.
It is important to think about finances
Thus, young people moving abroad can finance a lot with the help of CSN loans and grants. But Simon and many others also chose to work alongside their studies. If you do, it is important to know how you think about the taxes on the salary you receive abroad.
The basic rule in Sweden is that those who live in Sweden pay tax on income from working in Sweden, but if you live abroad most of the year, you usually do not pay tax in Sweden. So says Katharina Nordblom, professor of economics with a focus on taxation.
– However, it depends a bit on the agreements that exist between countries. Sweden’s income tax depends on where you live, while other countries (such as Denmark) depend on where you earn your money.
Regardless of where you work, you must pay a certain amount of tax in Sweden if, for example, you own a home or a business in Sweden.
– If you own property or have an LLC operating in Sweden, you need to pay property tax and corporate tax in Sweden, even if you live abroad, says Katarina Nordblom.
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