According to Ashish Verma of Restaurant Brands, Switzerland, "I still prefer to put money in Indian stock markets before European stock markets."

 According to Ashish Verma of Restaurant Brands, Switzerland, "I still prefer to put money in Indian stock markets before European stock markets."

Your income usually soars when you relocate from a small town to a major metropolis. Likewise, your outlays do! When you reach the water, the situation completely changes. In addition to acclimating to a new way of life, one must also consider the implications of a new currency on buying power parity and other matters.

Ashish Verma, Global Lead of Innovation & Insights at Restaurant Brands International, went through a similar situation when he relocated from Malaysia to Indonesia and then established himself in Zurich, Switzerland. 

He discusses his bittersweet experiences in an email exchange with Livemint; some are shocking and eye-opening, while the others may seem ordinary to some.

Excerpts that have been edited: How are incomes and costs handled in Switzerland in comparison to Asia, especially India? There is a misconception that living costs are cheaper and that one may save a significant sum of money in India even with a lesser income. Just how real is this? 

Many individuals do calculations incorrectly while assessing employment offers in other countries. One of the "best salaries" in the world, if not the greatest in Europe, is offered by Switzerland. After working in four different countries so far, I can tell you that the criteria for determining \{best salaries´ is not based on the amount deposited to your bank; rather, it is based on the volume of net savings you have each month (i.e., salary minus costs). 

For instance, an eight-year-old IT worker in India who earns one lakh rupees a month manages to save sixty thousand rupees, or 60% of his earnings, because of the country's cheap cost of living.

Although the same professionals earn at least 6000 CHF (Switzerland's currency) a month, or over ₹5.6 lakh, in Switzerland, their higher "standard" of life causes them to spend 4500 CHF and save just 15% of that amount, or 1500 CHF.   

But when you translate the saved money to Indian rupees, it comes to almost 1.4 lakhs, which is more than twice as much as he was saving there. 

It is crucial to keep in mind that Switzerland provides cheap interest rates for loans, but it also gives lower returns on investment products like debt and equity funds. 

As a result, I like investing in Indian markets and transferring money there. However, if I had to purchase expensive goods like automobiles, motorcycles, etc. in Switzerland, I would take out a loan.

What financial and savings goals did you have before relocating to Zurich? Were those hopes fulfilled? Why not, if not?

Having done my study properly, I would say that I was in a comfortable place from the start. To assist me find out as much information as possible, I contacted a professional consultant (who cost 80 CHF per hour). 

In addition, I reached out to a few Indian expats in Zurich via Facebook's Expat community sites and LinkedIn. I spent around nine or ten hours on video conversations with these folks to hear their viewpoints, and it really helped me control my expectations.

The stunner was a few annual levies (fees) and a harsh penalty structure. 

Could you tell me what additional costs you had to pay there that you were not previously aware of?

A few things caught me off guard, particularly the annual indirect taxes and fees you have to pay to the local municipality office or the almost unavoidable fines and penalties. For instance 

Annual taxes on radio and television (which you seldom use these days, insane, huh?)

annual pet tax (if applicable)

Fees for Social Welfare

Pricey and specialized bags for collecting trash and, in some situations, a cost per kilogram for disposal 

Required insurances 

Additional insurances are not required, but they are necessary.

very severe fines for speeding on the road, etc. (nearly inescapable) 

penalties for breaking the garbage disposal regulations.

misuse of public transportation, etc.

The quality of living in Europe is thought to be higher, thus that deducts some of your money. Could you elaborate on the costs that you don't have to pay in India?

That's a wonderful topic. When relocating overseas, we often discuss salary and savings in general, but we don't typically speak about the high standards of living that come with the package. Here, as I said in response to the previous query, the savings amount is greater. However, you get a hundred times higher quality of life here than in many other developing and populated countries. 

For instance, the cost of attending an international school is relatively costly, but the quality and teaching techniques are excellent (local language schools are usually free). The amount of annual taxes and insurance is costly, but in exchange you get excellent road infrastructure, safety, a clean and green environment, etc.  

Do you intend to go there soon to settle down?  How come? (If it isn't, why not?) Does your income and/or savings play a role in your decision?

When it comes to infrastructure, healthcare, education, safety, and other things, this is a beautiful nation, and most Indians I meet are eager to return. Unfortunately, because of my priorities and life decisions, it doesn't work for me. A few private motives

This nation treats you; I sometimes refer to it as an illusory bubble. Obtaining permanent residence requires a ten-year, challenging procedure with no assurances. Language is a major barrier that often prevents you from interacting with locals since the outside world is not as organized and pleasant, and I want my daughter to be exposed to more obstacles in her early years to prepare her for future competition. 

The inhabitants are typically kind but not gregarious, and the land is incredibly tranquil and serene. This is not in line with my philosophy of life.

Because there is no domestic care available and there are few local connections, old age may be very difficult and costly in this place. It can also be rather depressing and boring. 

I am spending a few more years here with my family in order to see this lovely nation and maybe all of Europe, absorb the positive aspects of the local way of life, and create priceless memories.

What guidance would you provide to someone who plans to relocate from India to Western Europe in search of employment?

Better income, work-life balance, quality of life, travel options, exposure and learning, safety and security, decent education for children, more family time, and so on are just a few of the many benefits that Western Europe has to offer. It has been shown that one of the finest methods to develop yourself is to travel. 

Traveling and living abroad exposes you to a variety of circumstances, people, and locations that, at the most basic level, influence your approach. 

In addition, you could have a better work-life balance and more time for your family during times of need.