Transportation
Like any large metropolitan city of more than one million inhabitants (not counting tourists), it is generally a good idea to leave your car back home in the States. In doing so, you not only avoid the cost of auto insurance, but you won’t find yourself having to pay for garage space. And then there’s the problem of competing with the daily European gridlock.
The good news is that Prague’s transport system, Prague Integrated Transport (PIT) is not only very reliable, its comprehensive network of buses, trains, trams, metros, taxis and even ferries covers both the entire city and most of the surrounding outskirts. You can purchase a common ticket or “pass” from Prague Public Transport which will allow you unlimited use of any transportation method you choose. The cost of these annual passes generally run around $220 US.
General Living Expenses
Compared to popular European cities like Paris, Florence or Madrid, Prague remains an inexpensive place to live from day to day. Until the Czech Republic enters into the European Union in 2012, it should remain affordable for even those who wish to retire to the city even on strict budget.
So how much can you expect to spend on food, groceries, drink, cell phone, clothes, restaurants and the like?
Anywhere from $300 to $600 US a month depending upon your tastes and habits.
So How Can You Become A Resident Of Prague?
The first thing you want to do is place a call to the U.S. Czech consulate. They will offer advice on obtaining the necessary visas and paperwork. You then might want to contact anyone of the growing number of real estate businesses springing up all around the city. Simply type the key words “Living in Prague” into your favorite search engine and then select which company best suits your present and future needs.
It’s also a good idea to place a call to your accountant to inquire about advice on payment of taxes in both the U.S. and Prague. If you plan on maintaining a residence in America, you’re still going to have to pay Uncle Sam your fair share. But as a resident of the Czech Republic you’ll also be expected to give the Czech government its due.
But considering the overall affordability of this European jewel, paying a nominal amount of taxes is well worth the expense. Prague is a city of artistic riches, architectural mastery and inexpensive luxuries. In a word, it is artist friendly. It is a foreign destination where ex-patriots, bohemians and retirees can begin a new adventure outside the realm of the usual and the expected.