This is uncompetitive relative to Greece, Switzerland (flat tax and normal tax system with zero capital gains tax and no CFC rules), and Malta remittance based tax.
Yup, even under normal tax regime in Swiss, one can pay very little tax. For example, if one has company, just base it outside swiss, and hold all meetings outside swiss. No CFC rule is insane.
The issue with Switzerland is you'll eventually have to take the income personally but yes it can be decently competitive for Europe, which is why it's attracting a lot of wealthy people fleeing other places
@@OffshoreCitizen Your competitor in rnd channel just did video how you can do it. Dont forget there is also always a buy, borrow, die... when you can borrow against assets.
It seems a truism in this world of 2nd or 3rd residency/citizenship/tax schemes - that today is the best time to apply. We just received our Sarawak MM2H pass approval and have now heard rumours that these requirements are dramatically changing soon. We're glad we are locked in to the current requirements and may be 'grandfathered' in potential for life. Same thing happened in Portugal with the NHR - we got in quick and saved us tens of thousands. Fortune favours the brave/bold.
Correction: The 100k flat tax rate is not for 15 years and never has been. It is recalculated after 5 years, at which point it increases to 400k, aligning with Switzerland's flat rate. The new 200k rate follows the same pattern - 200k for the first 5 years, after which it is recalculated and adjusted upwards to match Switzerland's rate.
Since when swiss lump sum is 400k? In Ticino starts from 123k. I would only live in Lugano, as its warmer than Geneva or other cantons, and only 1 hour away from Milan. Now makes no sense to live in Italy.
@@OffshoreCitizen The minimum total tax burden referred to in points 2 and 3 amounts to approximately CHF 146,400 for married couples in the municipality of Lugano with a taxable amount of CHF 429,100 and approximately CHF 149,500 for unmarried taxpayers. From Steimle&Partners... you know the guys, that actually can give advise without saying not a financial advise.
@@don_kandon6006 There isn't a fixed lump sum tax amount; it’s negotiated with each canton. You have the flexibility to 'shop around' and see which canton offers you the most favorable terms, as they often compete to attract residents with better tax deals. For instance, I know of a Spaniard who pays CHF200k annually in the canton of Zug, though this amount is generally doubled if you're not an EU citzen. If you qualify for a lump sum under CHF200k, it's generally more advantageous to just opt for the ordinary tax rate. Overall, the more you plan to spend in Switzerland, the higher your tax liability will be.
@@don_kandon6006 From Steimle&Partners for non EU persons “Canton Ticino has defined the notable fiscal interest with a minimum taxable income of CHF 805'000 since 01.01.2024. This category of foreign nationals therefore will be assessed in 2024 with a minimum taxable income of CHF 805'000 at cantonal level and CHF 805'000 at federal level and since 01.01.2016 with a minimum taxable wealth being 5 times the minimum income assessment basis. Thus minimum taxable wealth since 01.01.2024 is CHF 4'025'000 resulting in an overall tax burden in Canton Ticino of approximately CHF 308'000 for singles resident in Lugano, respectively approximately CHF 305'000 for a married couple residing in Lugano.” - And if you’re an US citizen you still have to pay tax in the US in addition to the lump sum in Switzerland.
MichaeI, your videos wiII easiIy increase traffic ten-foId and more if you invest in pronunciation improvement / cIear speaking training and practicing. You can research and see a huge ROI if you improvre your speaking quaIiity and cIarity. No negativity here whatsover, just a friendIy advice, your content is highIy vaIuabIe just need to have a more presentabIe deIivery incIuding cIear speaking and perhaps some text buIIets / visuaIs to anchor and summarise your content.
This is uncompetitive relative to Greece, Switzerland (flat tax and normal tax system with zero capital gains tax and no CFC rules), and Malta remittance based tax.
Yup, even under normal tax regime in Swiss, one can pay very little tax. For example, if one has company, just base it outside swiss, and hold all meetings outside swiss. No CFC rule is insane.
Yeah, and none of those countries are better than Italy. Greece has maybe a few islands that come close.
The issue with Switzerland is you'll eventually have to take the income personally but yes it can be decently competitive for Europe, which is why it's attracting a lot of wealthy people fleeing other places
@@OffshoreCitizen Your competitor in rnd channel just did video how you can do it. Dont forget there is also always a buy, borrow, die... when you can borrow against assets.
It seems a truism in this world of 2nd or 3rd residency/citizenship/tax schemes - that today is the best time to apply. We just received our Sarawak MM2H pass approval and have now heard rumours that these requirements are dramatically changing soon. We're glad we are locked in to the current requirements and may be 'grandfathered' in potential for life. Same thing happened in Portugal with the NHR - we got in quick and saved us tens of thousands. Fortune favours the brave/bold.
It's not flat tax, it's lump sum
The second time you said it right lol
Id be interested to learn more about the polish lump sum tax and at what income level it makes sense
I believe we have another video on it. Otherwise feel free to send a message through our website
Wait, what? I thought the UK canceled their non dom
They did and replaced it with a 4 year tax holiday on foreign income
Correction: The 100k flat tax rate is not for 15 years and never has been. It is recalculated after 5 years, at which point it increases to 400k, aligning with Switzerland's flat rate. The new 200k rate follows the same pattern - 200k for the first 5 years, after which it is recalculated and adjusted upwards to match Switzerland's rate.
Since when swiss lump sum is 400k? In Ticino starts from 123k. I would only live in Lugano, as its warmer than Geneva or other cantons, and only 1 hour away from Milan. Now makes no sense to live in Italy.
That's not accurate. Where do you get that idea?
@@OffshoreCitizen The minimum total tax burden referred to in points 2 and 3 amounts to approximately CHF 146,400
for married couples in the municipality of Lugano with a taxable amount of CHF 429,100 and
approximately CHF 149,500 for unmarried taxpayers.
From Steimle&Partners... you know the guys, that actually can give advise without saying not a financial advise.
@@don_kandon6006 There isn't a fixed lump sum tax amount; it’s negotiated with each canton. You have the flexibility to 'shop around' and see which canton offers you the most favorable terms, as they often compete to attract residents with better tax deals. For instance, I know of a Spaniard who pays CHF200k annually in the canton of Zug, though this amount is generally doubled if you're not an EU citzen. If you qualify for a lump sum under CHF200k, it's generally more advantageous to just opt for the ordinary tax rate. Overall, the more you plan to spend in Switzerland, the higher your tax liability will be.
@@don_kandon6006 From Steimle&Partners for non EU persons “Canton Ticino has defined the notable fiscal interest with a minimum taxable income of CHF 805'000 since 01.01.2024. This category of foreign nationals therefore will be assessed in 2024 with a minimum taxable income of CHF 805'000 at cantonal level and CHF 805'000 at federal level and since 01.01.2016 with a minimum taxable wealth being 5 times the minimum income assessment basis. Thus minimum taxable wealth since 01.01.2024 is CHF 4'025'000 resulting in an overall tax burden in Canton Ticino of approximately CHF 308'000 for singles resident in Lugano, respectively approximately CHF 305'000 for a married couple residing in Lugano.”
- And if you’re an US citizen you still have to pay tax in the US in addition to the lump sum in Switzerland.
MichaeI, your videos wiII easiIy increase traffic ten-foId and more if you invest in pronunciation improvement / cIear speaking training and practicing. You can research and see a huge ROI if you improvre your speaking quaIiity and cIarity. No negativity here whatsover, just a friendIy advice, your content is highIy vaIuabIe just need to have a more presentabIe deIivery incIuding cIear speaking and perhaps some text buIIets / visuaIs to anchor and summarise your content.
1st 🎉🎉
are you a child?!