ENDING my business in Germany was The BEST financial decision I ever made
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- Опубликовано: 15 сен 2024
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DISCLAIMER: This video is only for educational purposes only and any opinions are my own entirely. Please do your own research and due diligence before making any financial decision. Some links may be affiliate links, using which we get a small commission without any additional cost to you which helps support the channel.
A course worth $5000, absolutely free... Thanks
Just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains within months, l'm really just confused at this point.
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
Heard someone mention a couple making around $120,000 during the recent Bitcoin pump. How're they doing it?
I read on CNBC about someone who is netting $20k a month himself from just his tradings in the market, which is from capital he had amassed long ago. That is incredible. How do people do that?
You need a pro that is good at navigating the market. Someone like Angela Reinhard
I can relate to all of the issues mentioned here; dealing with the Finanzamt, the tax system, even the difficulty of finding a tax accountant, etc. Great video.
Getting a loan here in Germany is so difficult when you've a business of your own and quicker when you're on a payroll.
I advise people on the best way to earn without loan. I'm not German but I can tell you that you can make more money when you invest with and expertise in trading like Owen Arthur who has been consistent for over a decade now.
I think he trades for everybody I know. Met him twice at a conference in Nuremberg, after his lecture I had to personally beg him to be my Financial Adviser. I celebrate his strong feet.
Bucking conventional wisdom, the crypto market is currently bullish. Despite risks and high rates, it grows, emphasizing adaptability for traders. Instead of predictions, they should focus on trends and strategy adjustments. Key factors include specific stocks' performance and upcoming earnings reports. For those eager to thrive, real-time data and sharp analytics are critical. My own success? A testimony to Owen Arthur's strategies I've over 19btc in just six weeks.
Germany is a nice country and most times difficult to get a good paying job. It takes one to make thousands of Euros but I made €125k in just 21 days on trading with Mr. Owen.
wow this is awesome I'm new here how can I reach him?
"We both packed our cats"
Man knows his priorities
Getting loan for self-employed people are very difficult in Germany. Payroll does a way quicker job.
If you make German citizenship and move to another country should you still pay any taxes to Germany to keep citizenship ??
No. Only USA and Eritrea have tax residency connected to their passports / citizenship
@@Brandevise thank you
@@Brandevise thats why you moved to rumania and thats why you only pay all the tax there :D nice
that is a way oversimplified answer. Its not that simple@@Brandevise
@@kjdhfirueg what do you mean? Where does being a German citizen make any difference to German tax authorities? It can be complicated to move out of Germany when you own assets like real estate or companies, which you may get taxed for when moving out. But that is regardless of what passport you have.
I'm new to trading, and l've lost a good sum trying out strategies I found in online tutorials. I would sincerely appreciate any recommendations you have.
As a beginner, the best you can do to yourself is to get a professional that will handle your account and minimize lost to it's nearest rate.
I'd recommend Maria Andersen. Her profit is great even when there's a dip
Maria Andersen has really set the standard for others to follow, we love her here in Ontario Canada I as she has been really helpful and changed lots of life's
I remain eternally grateful to Maria, for her efforts that got me to this point, finally paid off my mortgage and all debts, what more could I've asked for. She changed my life for good.
please educate me, l've come across this name before, Now i'm interested
There is a time in the life of an entrepreneur w/o a physical business when it's definitely attractive to move to a country like Romania. But many tend to come back once they want to send their kids to school or grow older and need frequent access to doctors.
Regarding mail from German authorities, after being self-employed and running two companies in Germany for many years, it happens super rarely that anything unexpected is in the mail. If payment plans are set up properly, all you get are basically receipts. I'd prefer them as an email instead of paper, but that's still far away from something that would drive me out of the country. Definitely agree on the importance of having a motivated tax advisor, no matter where you are. The times I had to pay late penalties to the Finanzamt were actually because my tax advisor forgot to do their job.
Overall I guess there are always trade-offs to be made between infrastructure, quality of life, being near loved ones, and direct financial benefits. Thanks for sharing your insights!
Btw.: As a freelancer or entrepreneur in Germany, you can always opt into the pension system and have basically the same deal as an employee. The reason why many don't do it is because it's simply not a very good deal and you usually are better off putting that money in your own savings plan, real estate, etc.
Thank you for your inputs! Would you be up for a video together sometime? I think it could turn out to be a very interesting discussion. You can just drop me an email at bharat@brandevise.com and I get back to you.
About the story of Romania being attractive for digital business - it is 100% true, but also the story that this is not going to be probably a forever thing. My wife, who also has her company in Romania, is already getting registered in Denmark from January 2024 as we are expecting a child and we personally find Denmark to be the safest country so far in EU to build a family - prices for everything are really ridiculous though - from Handymen, to groceries and taxes. Health care I also do not think is the best - there I think rarely any country comes close to India. A lot of doctors, quick access to healthcare (if you have money). To kind of summarise from my POV if you really have to cherry pick - this would be heaven:
1) Romanian taxes
2) German education / universities / job opportunities
3) Safety of Denmark
4) Healthcare from India
5) Weather of Mallorca
6) Humility of the Japanese
7) Friendliness of the Americans
And that's the thing then - you simply never find the perfect place - not that it doesn't exist. If you add another dimension = money, and this is more or less passive, then if you get to a ridiculous level of money - then you can really live don't have to worry about taxes. Then you can work with fewer constraints. I personally found Bavaria and BW very beautiful. I would have loved to stay there if my experience with German authorities was not so horrible. Next closest thing would be Switzerland (someday).
@@Brandevise please tell me that the two of you made this collaboration happen! Is there a video or podcast?
Beware that everything is forgiven for taxes you own after 5 years and ANAF is actually waiting until the 4th year when penalties are way bigger until they decide to go after those who still own them tax money. It's a trick they they tend to do so you will find out about 4 years after the 1st year of Romanian taxation if you actually got everything covered or not. Also beware that you might get a letter and called by ANAF for a chat even if everything was paid properly just because they system triggers a false positive. Otherwise still a great move from Germany, hopefully everything is well covered and no issues will appear for you and your company. Best of luck !
The problem with countries like Romania is the corruption and unreliability. Sure it’s cheaper and more lucrative to invest but when you run into issues where you’ll need to be able to rely on the system to legally and fairly protect you and your assets. I’m sure people like Andrew Tate wouldn’t have thought that they would have the issue that they’re facing today.
@Brandevise, did you think or consider Dubai, UAE? what do you think about it?
Very useful video! Thank you!
7:42 As a self-employed you can contribute to the pension funds in Germany, it is just voluntary, not obligatory (now).
The last 5 minutes is crazy resonating with my life situation right now and I have been debating with myself whether I should move from Germany. And Bharat, damn, I just needed to hear that right now. Seriously, I have been trying to open a business and do all this paperwork, without having much funds or resources available its been so hard on me, getting it done and I have been unemployed without income since the last 9 months, I think I have enough of this BS with German bureaucracy and want to take it a little slow and start somewhere else. I can’t think properly. I am so much stressed.
@Branevise Hi Bharat, I thought you were promoting Germany initially. I wonder that making money and paying huge taxes wasn’t a good deal. A couple of your videos states that Germany is the best place to be. You seemed very proud to be part of Germany. But I feel a lot of difficulties and differences. Would it not make it better that you would like to reconsider your old videos
Germany is a great place to be at if you are a student, employee or even a small business making up to 120k euros. After 120k euros, it doesn't make sense to be in Germany. When you reach that level, you can always find better places to move to. This income level is irrelevant to most people, and hence, for most of the people - Germany is simply the better place to be at.
@@Brandevise 120 K in reveue or profit?
Thank you. For a salaried employee in Germany, how to get started with real estate portfolio in a SIP/Savings scheme way? Apart from real estate ETFs is there any other way?
Thank you for very informative video, i have two questions, 1-what do you recommend for a person who just started working as an emplyee and also entered stock market? 2-if i am a regular imployee in Germany (paying tax) and in the same time i trade stocks, is it possible to not paying tax for the stock trading? or some kind of solution to pay less tax?
I guess you are biased with Romania.
Good quality Video and your other videos as well.
A lot of information and important questions you raised are important especially to the fact of why Germany doesn't simplify paperwork and tell you in advance what you need to plan when you do business. Anyways one important question is, are you subject to German tax on your assets and businesses after you have done your Abmeldung?
@Brandevise If I may, it is not Ethiopia but Eritrea. All Americans living in the EU should renounce their citizenship for financial freedom. Obama's FATCA FBAR made it almost impossible for an American to keep or even open a basic bank account. Great info and thank you
Thanks for the correction!
If you are running online business in germany 🇩🇪. And most of your customers are crom outside germany do yiu have to pay VAT in the customers outside germany
No.
Great video. But i have a short question.
Can I register my online business in romania while living in germany or do i need to move to romania entirely
You pay taxes for registration adress. Means u need to move out
Can I ask you what the Tax percentage was when you decided to move to Romania ? Because I heard there is a huge Tax when you try to leave Germany with your business
A really great video, I just wanted to ask if you Switzerland was on your cards to operate your Business from, since I have heard quite a lot of stories of Switzerland being a Tax Haven for businesses. What do you think of Switzerland?
It's a better option for entrepreneurs having personal incomes above 10 million euros.
Do u think it would be possable to open a Business in Ro but getting a permanent Resident for whole eu ?
Привет ! Who manages your apartments in Bucharest if you're only occasionally there? And what is your second business?
Great video! do you have a plan to share your insight on the differences of capital gain / dividend tax between Germany and Romania?
if you have your bussines and houses for example yours in Rumania, everything online etc. but you lived physically in Germany, do you have to pay taxes in germany? or it would be double taxated? or just in rumania
This is cleared with the fiscal residence. Once you sign out from the Finanzamt(DE) and sign in at ANAF(RO) as a fiscal resident then you pay taxes in Romania. But the tax law is very birocratic and there are many exceptions and many strange situations.
Do you think its possible to live in some other country and at the same time work as a freelancer online in Germany? Isnt it too much scifi? :))
As always a good experience sharing Bharat! Keep it up… if im not mistaken, then you can benefit from all the mentioned things ONLY if you are European and not as an Indian or?
Are you still living in Germany and company in Romania.
Can i operate online affiliate marketing in Germany
Hi Barath, very nice video, thanks a lot for this very useful info. I got a question regarding taxation in Germany: what do you think about Steuercoaching from Alex Dusseldorf? Greetings and all best in Romania.
Hi Jacob!
I think everyone has something to teach. His main idea is with a holding structure GmbH and invest in real estate - that’s the primary way of reducing taxes in his approach. I do find it very interesting, but at the same time - I also think it’s relevant with income levels above 200k. A normal person would gain nothing - just bureaucratic headaches and more administrative costs.
What's about a student??
If you running an online business. Is it not possible to open it in another country while still living in Germany
Good question. Wanted to ask this too
Great video, good to know. However i find it ridiculous the amout of taxes you had to pay there. I know nothing about life in Romania but if i judge by this it must be beyond any comparison with Germany or Denmak etc., in every sense. I really dont know how developed they are, i would assume well, but there is a reason why Germany is flooded by romanians working here. I really do not know a country where you have excellent living conditions while paying so little in taxes. You still chose a fairly poorer country to move to and u mentioned Bucharest, id say same case..
Anyways, do you have any video on how you started your career? Would be great to hear out your story for us beginners.
This is the consequence of young minds tasting so called success. Chill man! Life is a long learning curve!
I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy.
That's awesome, which source/ platform did you use to earn such huge sum of money?
I keep hearing a lot about Mrs mary smith, must be really good
Trading has offered investors many opportunities to build a high portfolio despite our current economy.
Trading has offered investors many opportunities to build a high portfolio despite our current economy.
Yeah! 240k from Mary smith, looking up to acquire a new house in Ohio is a blessing B
Great video.
WELCOME TO ROMANIA!!!
20000 euros. Whatt the. Never knew you were that richh man 😂. Just wow 🤯. Imma watch videos that tells about your businesses(if it’s available).
🔥🔥🔥🔥🔥🔥🔥🔥🔥
I am in the same situation, how can I contact you by email?
@brandevise dude very helpful video! Thanks a lot for sharing all this ;)
Great video