Starting out in a new country brings many changes, including some bureaucratic steps that can feel overwhelming at first. To make the transition to Germany as smooth as possible, here is an overview of the most important financial topics, from opening a bank account to the tax identification number and the insurance policies that provide cover in everyday life.

Bank account in Germany

One of the first things to take care of in Germany is opening a bank account – without one, many other steps are difficult to manage, such as renting an apartment or taking out insurance. There are various providers and account models available, and a basic account is also an option for those just starting out. What to look out for when opening an account and which documents are needed can be found here.

Tax identification number

The tax identification number is one of the most important numbers in the German administrative system. It is automatically sent by post after registering a permanent address for the first time and remains valid for life – it is needed, among other things, for taking up employment and filing a tax return. Since it is essential for many official matters, it should be kept somewhere safe. All further information on the tax identification number can be found here.

Essential insurance in Germany

In addition to mandatory health insurance, there are other insurance policies that can be useful in everyday life – such as personal liability insurance, household contents insurance, or legal expenses insurance. Personal liability insurance is also sometimes required as a condition for renting an apartment. Further information on these insurance types and what they cover can be found here.