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However, those who live far from home also have to deal with some difficulties, and not every city makes it easy for newcomers. In addition, arranging one’s finances across borders is an enduring challenge. “This is where we can help expats”, says Danijela Skopljak, International Sales Director at Moventum in Luxembourg. “In the financial centre of Luxembourg, the conditions are optimal to provide banking services to expats in and from all regions of the world.”

The secondment of employees has gone from being the exception to the rule. Even medium-sized companies have production or sales sites in different countries – and send their own employees there on a temporary basis. However, the destinations vary greatly in their popularity, according to the latest Expat Insider study by the InterNations network. The networking service had asked 12,000 expats in 180 countries about their experiences abroad: living conditions and quality of life, costs and job opportunities, but also leisure activities and social connections.

The result is a ranking of 53 countries – in which Europe scores relatively poorly. Expats give the best marks to Mexico. Spain follows as the best European country. Germany is in 49th place, with complaints about high rents and the difficulties of making new acquaintances. Expats in Norway also suffer from loneliness and high costs, coming in second to last, followed by Kuwait.

“Unfortunately, we cannot address the issues of high rents and social isolation”, says Skopljak. “However, we can significantly simplify expats’ financial lives, enabling them to tackle the essential challenges.” Considering the high mobility of expats and the need for frequent relocation, it is essential to offer investment options that can be seamlessly carried along. “While changing bank accounts or applying for a new credit card is relatively straightforward, relocating pension funds and invested capital is a far more time-consuming process”, explains Skopljak. Individuals who frequently change their workplace often lack the time to familiarize themselves continually with the investment regulations of each new country.

For expats, Skopljak emphasizes the importance of accessible account management across new locations, while maintaining security. When account management takes place in Luxembourg, the client’s personal data remains protected by Luxembourg’s stringent regulations, regardless of the client’s current residence. Skopljak explains, “Luxembourg’s high level of internationality provides an optimal foundation for personal financial investments.” These regulations are among the best and are compatible with various legal systems worldwide. This reliability is particularly crucial for individuals who are frequently relocated by their companies or institutions, as they need to carry their retirement provisions across different jurisdictions. This is especially relevant for groups like UN employees, whose portfolios Moventum oversees in diverse locations and currencies. In total, Moventum serves investors from 124 countries and managing portfolios in various currencies.