Moving to New York City: Financial planning

For many, New York is the dream city where a series of successes awaits them. And it’s a coincidence because the city that never sleeps looks very attractive and promising. In this city of over 8 million people, everyone is on a mission: without purpose and tenacity, the city will swallow you up. For the first-time visitor, New York City is to admire the Empire State Building, walk in Central Park, or Times Square at midnight, attend a Broadway show, etc. However, in the case of permanent residence, you will have to see the other side of the coin as well։ as transportation, housing, getting a job, paying taxes, and other everyday issues․

Sometimes after realizing that what we want is not that easy it often seems easier to give up on a dream, but the most wonderful thing about life is that you have different ways of reaching your goal. Below you will find a small guide to make your steps more competent․

New York City skyline

How much will it cost to move to New York City?

To move to the U.S. legally, you must have a valid visa regardless of the purpose of moving: school, political asylum, or work. But depending on the visa type the requirements are different. Say, a refugee is eligible to apply for permanent residency after one year, unlike other visa holders that have to live in the U.S. for five years․ If you are applying for permanent residence in America, you must be an upstanding person with no criminal charges or convictions. It’s good if you know the history of The United States because that will be one of the requirements. Take into account that legal immigration can take up to two years to complete. In the meantime, there will be interviews and background searches. Yeah, it is not that easy to reach the ceremony of swearing an oath to the United States.

Of course, you can study the details of immigration in detail and follow the mentioned steps, but the relevant specialists will perform this work faster and more competently for you. So, the most promising option is to find more about immigration lawyers in New York and take more confident and promising steps toward your dream. The knowledgeable and compassionate team will maneuver where you will face an obstacle.

Accommodation in New York

New York’s rental market can be tough at times. Finding an apartment in NYC is not cheap and almost every owner of a house requires a security deposit. In order to rent an apartment you often have to pay commissions that are equal to 10%-15% of annual rent. You may use the appropriate service or website to find a roommate so you don’t have to lease an empty apartment. The cost of living is also insane, besides housing, all your bills will be higher: groceries, entertainment, etc. After moving to NYC your budget is going to increase. So, it is necessary to plan beforehand how you’ll make it work. Before you move, you can use the Home Affordability Calculator and determine what kind of apartment you can afford.

Work in a NYC

Laptop computer over New York city skyline. Retro filter effect

The next adventure awaits you in a job market with many challenges and successes.

If you suffered a burn injury accident we advise you to contact a burn injury lawyer from New York to help you establish liability, file a claim & seek compensation.

Immigrants make up half of New York’s labor market․ They often work for low wages and there are several reasons for this: limited English proficiency, lower educational achievement, and inability to get re-credentialed in the United States. If you finally build your team in NYC, then think about organizing appreciation events for them, such as giving them eco-friendly gifts for Christmas, celebrating their birthdays at the workplace, and trying to treat their hard work.

You can consider remote or freelance work if you’re, for example, a content writer or, say, a graphic designer or other IT professional. This option will allow you to cooperate with specialists located in different parts of the world. Digital tools like Asana or asana alternatives will help you coordinate your work in the digital reality

How to run a business in New York?

Group of diverse people having a business meeting

There are various reasons why business startups are located in New York: It is considered to be one of the top business-friendly places in the world.

The good news is that by registering a new company in NYC, you might qualify for the incentive programs offered by the state: tax advantages, credibility factor, state incentives. This reduces the overall tax burden on businesses. One of the popular tax benefits is the “Startup New York”, which allows the selected businesses to enjoy 10 years of tax-free operation. It also has been designed to encourage more start-ups.

It is worth mentioning that a tax credit is offered if you hire employees from target groups that face significant barriers in terms of employment.

Maybe you’re a Senior Programmer, a high-class dressmaker, or a financier with years of experience and want to run your consulting business. But at the bottom of the skyscrapers of New York, you’re just an ordinary person until you show the will and persistence to get to the next level. Often the best professionals who are really in demand in the field have a hard time presenting their abilities.That’s why you can simply turn to a business consultant who will suggest a competent strategy for starting a business.

Dream BIG

And so, New York is a dream that may be difficult to achieve, but not impossible.  Remember that only through persistent efforts will you be able to climb the scale of personal growth and use the opportunities created by man for man. You just need to have a clear goal, discover unprecedented ways where many have laid down their weapons and on a beautiful, starry evening, look at the brightest city from the roof of one of the skyscrapers.