How to Raise Enough Money to Relocate to Europe

Relocating to European countries such as Germany, Spain, Italy, France, and Portugal is an exciting venture that requires thorough financial planning.

This comprehensive guide provides an in-depth breakdown of the necessary requirements, associated costs, and effective strategies to raise the required funds for your move.

1. Visa Application Fees

The type of visa you need depends on your purpose of travel—be it work, business, study, tourism or family reunification. Here’s an overview of visa fees for each country:

• Germany:
  • Schengen Visa (Short-Stay up to 90 days): €80 (approximately ₦70,000 to ₦85,000).
  • National Visa (Long-Stay): €75 (approximately ₦65,000 to ₦80,000).
• Spain:
  • Schengen Visa: €80 (approximately ₦70,000 to ₦85,000).
  • National Visa: €60 to €80, depending on the specific visa type.
• Italy:
  • Schengen Visa: €80 (approximately ₦70,000 to ₦85,000).
  • National Visa: €116 (approximately ₦100,000 to ₦120,000).
• France:
  • Schengen Visa: €80 (approximately ₦70,000 to ₦85,000).
  • Long-Stay Visa: €99 (approximately ₦85,000 to ₦100,000).
• Portugal:
  • Schengen Visa: €80 (approximately ₦70,000 to ₦85,000).
  • National Visa: €90 (approximately ₦75,000 to ₦90,000).

2. Flight Costs

Airfare varies based on the destination, airline, and booking time. Below are approximate one-way ticket costs from Lagos, Nigeria, to major cities in each country:

• Germany (Berlin): $500 to $700 (approximately ₦230,000 to ₦320,000).
• Spain (Madrid): $600 to $800 (approximately ₦275,000 to ₦370,000).
• Italy (Rome): $550 to $750 (approximately ₦250,000 to ₦345,000).
• France (Paris): $500 to $700 (approximately ₦230,000 to ₦320,000).
• Portugal (Lisbon): $650 to $850 (approximately ₦300,000 to ₦390,000).

International Flight Options

Securing affordable and reliable flights is a crucial step in your relocation process. Here are some airlines that operate flights from Lagos, Nigeria, to the respective European capitals:

• Lagos to Berlin, Germany:

  • Airlines: Air France, KLM, Lufthansa, Turkish Airlines.
  • Estimated One-Way Fare: Starting from $525.

• Lagos to Madrid, Spain:

  • Airlines: Air France, KLM, Lufthansa, Turkish Airlines.
  • Estimated One-Way Fare: Approximately $600 to $800.

• Lagos to Rome, Italy:

  • Airlines: Air France, KLM, Lufthansa, Turkish Airlines.
  • Estimated One-Way Fare: Approximately $550 to $750.

• Lagos to Paris, France:

  • Airlines: Air France, KLM, Lufthansa, Turkish Airlines.
  • Estimated One-Way Fare: Approximately $500 to $700.

• Lagos to Lisbon, Portugal:

  • Airlines: Air France, KLM, Lufthansa, Turkish Airlines.
  • Estimated One-Way Fare: Approximately $650 to $850.

Note: Flight prices are subject to change based on booking time, season, and availability. It’s advisable to book well in advance to secure the best rates.

3. Hotel Accommodation for First-Time International Travelers

Choosing the right hotel is crucial for first-time international travelers.

Look for reputable hotels with good reviews, proximity to key areas like airports or city centers, and essential amenities such as Wi-Fi, breakfast, and airport transfers.

Booking platforms like Booking.com, Airbnb, and Agoda offer detailed reviews, flexible cancellations, and competitive rates. Budget options like hostels and guesthouses can also help save costs while providing a comfortable stay.

Budget-Friendly Accommodation Options

Upon arrival, securing affordable accommodation is essential. Below are examples of budget-friendly hotels in each city:

• Berlin, Germany:

  • The Circus Hostel: Located in the Mitte district, offering both dormitory and private rooms with modern amenities.
  • Hotel Transit Loft: Situated in the Prenzlauer Berg area, this hotel provides simple rooms in a converted factory building.
  • Pension Peters – Das andere Hotel: A family-run hotel in Charlottenburg, close to public transport and city attractions.

• Madrid, Spain:

  • Hostal Art Madrid: Centrally located near Plaza Mayor, offering comfortable rooms with private bathrooms.
  • Ok Hostel Madrid: Situated in the La Latina neighborhood, this hostel provides both private and shared rooms with modern facilities.
  • Hotel Europa: Located in Puerta del Sol, offering budget-friendly rooms with excellent city views.

• Rome, Italy:

  • Hotel Mosaic Central Rome: A short walk from Termini Station, offering air-conditioned rooms with free Wi-Fi.
  • The Beehive: An eco-friendly hostel near Termini, providing both dormitory and private accommodations.
  • Hotel Italia: Located in the Monti district, offering affordable rooms with complimentary breakfast.

• Paris, France:

  • Hôtel du Petit Moulin: Situated in the Marais district, this boutique hotel offers uniquely decorated rooms designed by Christian Lacroix.
  • Le Pigalle: Located in the Pigalle area, known for its vibrant nightlife, this hotel provides stylish rooms with a local flair.
  • MOB House: Found in the Saint-Ouen neighborhood, this hotel combines comfort with a creative atmosphere, featuring a pool and co-working spaces.

• Lisbon, Portugal:

  • Lisbon Destination Hostel: Located within the Rossio Train Station, offering both private and shared accommodations with a vibrant social atmosphere.
  • Residencial Florescente: Situated in the Baixa district, this hotel provides comfortable rooms with modern amenities.
  • Hotel Ibis Lisboa Centro Saldanha: A budget-friendly option offering standard rooms with easy access to public transportation.

Note: Accommodation prices vary based on season, location, and availability. It’s recommended to book early and consider options like hostels or guesthouses for more affordable rates.

4. Accommodation Costs

Initial housing costs can be substantial. Here’s an overview of average monthly rents and initial deposits:

• Germany:
  • Rent: €700 to €1,200, depending on the city and apartment size.
  • Deposit: Typically three months’ rent.
• Spain:
  • Rent: €600 to €1,000.
  • Deposit: One to two months’ rent.
• Italy:
  • Rent: €650 to €1,100.
  • Deposit: Two to three months’ rent.
• France:
  • Rent: €800 to €1,500.
  • Deposit: One month’s rent.
• Portugal:
  • Rent: €500 to €900.
  • Deposit: One to two months’ rent.

4. Living Expenses

Monthly expenses include food, transportation, utilities, and other personal costs:

• Germany: €800 to €1,200.
• Spain: €700 to €1,000.
• Italy: €750 to €1,100.
• France: €900 to €1,300.
• Portugal: €600 to €900.

5. Health Insurance

Health insurance is mandatory in these countries:

• Germany: Public health insurance costs approximately €80 to €150 per month.
• Spain: Private health insurance ranges from €50 to €200 per month.
• Italy: Registration with the National Health Service (SSN) costs around €150 per year.
• France: Public health insurance contributions are income-based; private insurance varies.
• Portugal: Private health insurance ranges from €20 to €50 per month.

6. Additional Expenses

• Language Courses: Depending on the country and institution, language courses can cost between €200 and €500.
• Miscellaneous Fees: This includes expenses such as opening a bank account, purchasing local SIM cards, and initial household setup, which can total approximately €300 to €500.

Fundraising Strategies

To accumulate the necessary funds for relocation, consider the following approaches:

1. Personal Savings: Begin by assessing your current financial situation and determine how much you can allocate towards your relocation. Setting up a dedicated savings plan can help you systematically accumulate the required amount.
2. Selling Personal Assets: Lands, cars, Jewelries and houses have substantial resale value than other personal belongings. Selling some of these assets may be enough to raise the amount of money you need to relocate abroad, or at least, a significant part of it.
3. Selling Financial Instruments: Financial Instruments such as Stocks, bonds, crypto and even adsense accounts are some of the ways many people have used in the past to raise enough money for their travels. If you have any of these, you may want to consider selling a portion of them to fund your relocation dream.
4. Loans and Community Fundraisers: Despite its reputation, the fact still remains that taking a loan to fund your travel still remains a viable option. Loans can be taken from banks, local communities, as well as friends and families.
5. Starting a Profitable Business: When you don’t have enough money to fund your relocation dream, starting a profitable business like adsense arbitrage is also a good and viable option to raise money to fund your dreams.