# Intro and question re bringing money



## 30Mauser (Feb 25, 2017)

Hi all! I realize this is the Germany forum but am hoping some of my questions are best answered here as we prepare to move back to Austria next year. I do have some experience as an expat, having lived in Japan 90-92 and Germany 95-97. 

I'm a US citizen and my wife is Austrian. We met in 2004 while I was on business in Vienna, married in 2009, and have lived together in the US since 2010 while raising my children from my first marriage. We were blessed with a child together in 2015. 

We are planning our resettlement to Austria (Niederösterreich/Wien area) in spring/summer of 2018 and are starting to get into the details of the logistics. 

My first question is regarding the best way to convey a large sum of money for building a home there. We expect to have six figures in cash (USD) from the sale of our current home and are trying to find the most efficient way to make it available in Austria in EUR. Preferably with minimal tax and fee losses.

Thanks in advance for your guidance!


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## Bevdeforges (Nov 16, 2007)

Simply transferring money into Austria (or any country) isn't a tax-generating event - as long as the funds were in your account(s) back in the US. 

Best way to go is to first set up your bank account(s) in Austria and then look into making either a bank transfer (which can be expensive) or transferring the funds through an FX service. I have found this site has good comparative information about all the most popular transfer services, including fees, limits, exchange rates, etc. Best Way to Send Money Abroad to UK, Europe, USA, Australia, Singapore, UAE & More 

There is always the option of going through your bank, but generally speaking, there will be a fee charged by your bank for making the transfer (often a percentage of the amount being transferred) and then another fee charged by the receiving bank (for receiving the transfer). 
Cheers,
Bev


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## 30Mauser (Feb 25, 2017)

Thanks (again) Bev!

Good to hear that the transfer of personally held funds is not a taxable event. As for the transfer fees, that was our next concern as I expect they're a percentage of the sum and we're probably looking at a couple-hundred-k. Was wondering if private investors could buy into the currency trade markets for lower transfer and conversion fees. 

I will study the companies from the link you sent me and see what the fees look like for starters. Thanks again!


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## Bevdeforges (Nov 16, 2007)

Some of the transfer services on that comparison site have all sorts of features for pegging the exchange rate at the ideal point, or locking in favorable exchange rates like an investor. Others are more nuts and bolts - how to get an amount from point A to point B as fast and efficiently as possible. It really depends on your needs and desires.
Cheers,
Bev


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