“Bengaluru Couple Relocates to Luxembourg Seeking Better Living Standards and Tax Benefits”
Prateek Gupta and Neha Maheshwari, a couple from Bengaluru, have relocated to Luxembourg, one of the world’s smallest countries, seeking a better quality of life and lower taxes. Their move to Europe in 2020 reflects a growing trend among professionals prioritizing lifestyle benefits over higher earnings in their home countries.
Prateek Gupta and Neha Maheshwari, a couple from Bengaluru, have relocated to Luxembourg, one of the world’s smallest countries, seeking a better quality of life and lower taxes. Their move to Europe in 2020 reflects a growing trend among professionals prioritizing lifestyle benefits over higher earnings in their home countries.
Prateek, currently a senior analyst with Amazon, and Neha, a finance manager for a German real estate firm, made the significant decision to trade larger paychecks for the refined lifestyle offered in Luxembourg. “While staying in India or moving to the US could have provided us with higher salaries and more career opportunities, we were drawn to the superior quality of life in Europe,” Prateek explained in an interview with Live Mint.
Financial and Lifestyle Benefits
One of the major advantages of living in Luxembourg, according to the couple, is the relatively lower tax burden. Prateek and Neha contribute approximately 28% of their income in taxes, which is 2-3% less than what they would pay in India. Despite this, the couple finds the tax rate manageable due to the extensive services provided in return.
Neha highlighted the benefits of Luxembourg’s health insurance system. “We contribute just 3% of our income towards government-sponsored health insurance, which covers all healthcare costs except dental care,” she said. Additionally, the couple appreciates the unemployment fund, which covers 80% of the last drawn salary for up to two years if they lose their jobs. “With just 5% of our annual income allocated to these emergency funds, we are well-covered for medical and job loss situations,” Neha added.
Affordability and Quality of Life
The couple also enjoys the affordability of luxury goods and travel in Luxembourg. They own a Mercedes Benz A-Class, which cost them approximately 43,000 euros. In contrast, a similar vehicle would cost about ₹55 lakh in Bengaluru. “In Luxembourg, luxury cars are priced much lower compared to India, making them more affordable relative to our income in euros,” Prateek noted.
Moreover, the couple finds European holidays more accessible due to lower costs in the local currency and the proximity of neighboring countries. “Traveling within Europe is cheaper since we spend in the same currency we earn in, and driving between countries is convenient and cost-effective,” Prateek explained.
The couple’s decision underscores a growing trend among professionals valuing lifestyle and quality of life over higher salaries. As they enjoy the benefits of their new European home, Prateek and Neha remain content with their choice, finding that the trade-off has been worth it for the lifestyle improvements and financial stability it offers.
Sources By Agencies
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