Forget passports (I have 3), plan B,C,D etc. If you have an EU passport, and a small flat, or even a slip in the old marina of Monaco, you can secure and enjoy a European lifestyle, and have an exit plan in case funny governments want to tap into your hard earned wealth. The only point for going through the pain of building serious wealth, is to be able to enjoy it with those people that matter to you. Wasting your life in “exotic” places in order to avoid taxes is way too much. Securing access to a few well connected, yet tax friendly jurisdictions is strategically important. For a European, Monaco, Switzerland, Liechtenstein, Luxembourg, even the Channel Islands, are the right places. But even if you live in a hostile country from a tax perspective, there are strategies to get you out of trouble. For example you can …incorporate yourself. I won’t say more, but spend a few thousands and get some serious advice from E&Y, KPMG and the likes. It is the best investment you can make these days. Seriously, as people become wealthy, they sometimes forget to ask basic questions.
@@ianmoore6165 Ah, that’s a big question. Even when money is not an issue, the choice of residences around the world is more of an art than anything else. For starters, it does make sense for places you visit frequently, and spend time there, to have a home, rather than alternating among temporary residences. This way you travel really light, on very short notice, and you arrive at a place where you have your clothes, your own bed, your own bathroom, your support infrastructure etc. On the other hand, I have made mistakes in the process and seen others make mistakes too. It is easy to fall in the trap and buy a nice house on the waterfront of the lake in Geneva. But you soon find this to be an enormous waste given the actual time you or another family member spends there. So you really have to be practical. Instead of a house in London for example, it is better to own a comfortable apartment on the river, right across the parliament. And if you made that choice around year 2000-‘05, you are probably sitting on a highly valued property right now. Same in Paris, in New York, anywhere you need to go frequently. Now, for countries like Greece, Spain, Italy, and any place you would go for a break and not for business, it is not wise to maintain a home, unless of course this is your home country. Having a home in such locations, sort of forcing you to go to the same place most of the time, which is also a waste. Instead, in those countries you may want to station a yacht, and if you don’t have one, you may want to rent one for a week or two, for your break. Same holds for all summer destinations including the Caribbean, the South Pacific etc.
I moved to Latin America in 2016. Never felt so FREE in my life and was out of my financial troubles thanks to taxation in an instant. Europe is like a constant weight around your neck. It's nice to visit sometimes, but I couldn't live there anymore, no way.
In my home country Germany we will not get a wealth tax within the next 4 years of the new government, but on EU level they plan a wealth register which inevitably will lead to a EU-wealth-tax sooner or later. That’s what all EU citizenship are facing. 🤬
@@ashvina8244 As the EU AND Germany desperately needs more money even Germany would be happy to support a EU wealth tax and than can tell their public, that the government has to implement EU law in Germany.
You probably mean an EU resident based wealth tax. Not an EU citizen wealth tax. But then again the wealth tax has been a failure everywhere it has been tried. France finally got rid of it. Because it was a failure for savings. There are also lots of ways around it. Like putting your assets in a company.
EU have six month rule so get a strong EU passport like Italian or Spain for Visa free traveling but don't live there rather reside in a tax free or low tax country, soon I'm gonna renounce my us nationality and probably get a euro passport.
A passport of EU country A gets you residency in EU country B. Can you get citizenship in country B after a few years? Maybe renounce A if they decide to tax it’s citizens abroad.
Yes you can as long as that said country allows dual citizenship, and you meet all the necessary criteria. France for example no problem, restrictions with Germany.
Tax does not make it into the top three issues with the EU : 1) Europe has zero Energy security, making it a grim struggle there in the future. 2) The Refugee problem is intractable, and corrosive. 3) The EU dream has dubious cohesiveness even in good times. Under pressure, it will be the Balkans writ wide. Look at history, except for the past century (only two World Wars!) these countries have always, always fought.
Europe, like the rest of the world has always been manipulated, you mean. Then as now, no sane person wants war. It has ALWAYS been the infamous powers that shouldn't be instigating these wars.
@@yamanosu9463 "Held hostage" is quite extreme. Im actually happy with whats going on energy-wise. It will prompt Europe to be even more independent, which they have the means to do, but chose not to.
Hopefully the ease of dropping them makes such a policy a last resort for the egalitarian reptile. Mid-term to long-term, I wonder if current inflation rates have the potential to replace Keynesian planning with a more trade-aware framework like in the 80s. Obsession to tax everything that moves could then lose key rationalization if state spending is no longer seen as a way to prosperity.
I don't really see countries with a lot of citizens living overseas imposing taxes on them. On the other hand these countries have been trying to "recover" their citizens living abroad so perhaps if they taxed them people would be less interesting in leaving which is the opposite of what they should do. They should be trying to become more competitive so people don't need to leave in the first place
This is exactly what we were looking for! Thank you! Been waiting for a video like this for years. I’m a fan. Wish we could afford the full service. 😂👍🏼
Abandoned me The problem with EU is it failed to protect millions like me in UK who grew up as an EU citizen, never wanted a UK referendum in 2016, voted Remain, as forced to vote, and have had EU citizenship an rights ripped off me and nothing from EU to me in aid, or lifeboat. Nothing at all. 14 million or more British Remain voters just walked away from by EU as though we were nothing and are still nothing. Remember if EU can treat us British (Welsh) EU Remain voters with such disregard when we most needed EU protection… what about you in your EU country? Why would EU parliament, commission, courts etc not simply cast you away too, as inconvenient? I am one of the abandoned, I’m still an EU citizen in my head but I’ve been left as waste at the side of the road? Why?
Because the EU is a totalitarian and disgusting attempt to destroy the national sovereignty of all its member countries. They do NOT care about the people they pretend to serve.
Sorry but your country chooses to quite the EU, and chooses not to stay in the common market as it was offered. So you're a third country now ! And UK was the one when in UE who propose to re-enforce the laws towards 3rd countries ! UE can't legally take care of non EU citizen non living in the EU. But I totally understand you, my british in-laws truly EU, are also feeling trapped now in UK. One escape to Danemark, one to Nederland.
I have french and canadian citizenship, high taxation is not great. My mother who had retired in France while still owning a canadian based business had to move back to canada this year because France wanted her to pay taxes there and they were starting to count retroactively since she had left France almost 10 years ago... There is its upsides to it however, I've lived in france, spain and italy thanks to that passport. there is no jobs however, best to retire there, not great for entrepreneurs in my opinion. If I could I would trade for a US passport.
UAE is basically the last place where you can still do offshore stuff and get a bank account with relative ease. If FATF / USA / EU put even just a little bit of pressure, UAE will cave in. Watch this space. And then you will not have any place as SG and HK are already super hard. There is nowhere left to run.
The polish population really really wants to stay in the EU, it's just some politicians playing with fire. But since the EU can't kick anybody out anyways, poland will probably just stay. There will be some monetary sanctions (already in place) but i think that's all. Most EU citizens really like the EU. I think there is not a single EU country where the EU leavers are close to a majority. The advantages are so obvious. Reforms may be needed, but that applies to practically every political entity.
If a country like Spain wanted to impose a tax on Spanish citizens residing outside of Spain, it would be easy for them to enforce the tax, in either of two ways: (a) denying passport renewal for those who had failed to meet their tax obligations, and (b) for those who chose to return to Spain to live full time (or even part time), the government could get the money out of them at that point. And for those who NEVER returned to Spain and who NEVER renewed their passport then yes.... the Spanish government probably couldn't collect the taxes owed, but it wouldn't much matter either.
I'm surprised you said Germany is a high tax country. The taxation laws are very complex but if you put enough time and effort into your tax return you shouldn't be paying much, if any tax. Also property tax is virtually zero and crypto gains are also zero % if you hold for at least 12 months. Add in free university, great, affordable health care and a relatively low cost of living, it really isn't that expensive to live there. Also it's a classless society so that, particularly in rural and small urban locations, everyone partakes in the same society and activities regardless of income.
@@sirgalahad2 no where near that in Germany. I pay around €200 a year for a house worth close to €500K. No wealth tax and 0% tax on crypto held for at least 12 months.
I want to move somewhere where the weather is cold, Im required to take an experimental vaccine, and I'm taxed at least 50% of my income. Any suggestions?
The way I said basically seventy or eighty percent of countries worldwide are going to require a vaccine to even travel and enter there. That's not a hill I want to die on. Would I've chosen the vaccine if I wasn't in the service and wasn't a medical doctor, probably not but I like to travel so the choice is clear.
@@marcind4644 Actually you pay more in the U.S. No one mentions the insane property taxes, HOA fees, tax on everything and meds through the roof. In many EU countries you pay the price at the register you see on the item, not surprise sales taxes. If one adds it up hmmmm.
Got a question for you, I'm a U.K. citizen but I can apply for German and/or Portuguese passports by descent. I speak german, not Portuguese (I read I don't need to though as it's "direct descent" from my dad, not my grandparent). I have some Crypto that I want to "protect". also, I wouldn't mind being able to swan about E.U. countries like I used to be able to. So, 5 questions, 1. how long does it take to actually get the citizenship you think in either Germany or Portugal, which is faster in your opinion? 2. Would you prefer one above the other in terms of "crypto-friendly tax" or should I just apply for both, or neither? 3. Is there any point at all in having both seeing as they are both E.U.? 4. Am I adding some liability by becoming a citizen? I don't hear people talk about any pitfalls in getting 2nd/3rd passports. 5. Does your company help with this form of acquiring citizenship, or is it too basic and I should just apply through the consulate myself with the paperwork? Can you help with getting and crypto advice, if so, do let me know. Thanks in advance, I like the channel.
Well I can answer with the german one. Once I paid the fee and provided all of the documents I recieved the passport in 3 months. Granted I splurged on the rush shipping but it is doable. Is get all of the documentation together at once as my advice including genealogy charts. If you have living relatives in Germany it will go even faster. You will be required to go in for an appointment at your local embassy, I think a lot of the speed depends on the discretion of the worker Is so if you have your genealogy chart and all your paperwork set together as well as the money bring it in cash, I should see no problems
@@marcind4644 Thanks for the reply, some good information. I'm already living in Japan (last 5 years) so I think that makes tax a resident in Japan, not the U.K. at this time. Although I'm not sure if there is something I should have done to make this official so to speak, any idea if I should have and if so what? You said about checking tax residence, can't I just declare that I'm tax resident in Japan, I mean records will show I haven't been in the U.K or derived any work from it for 5 years now, so it should be obvious. Thanks also for the "no real downsides" idea. Do you think I should just apply for both? I'm thinking things like visas in non E.U. countries would maybe make this a good idea. Like you can stay for 90 days on one passport, then leave, then go back in on a second passport, then get 90 days on that. Little things like this might work, I'm not sure. I don't intend to live in any country more than 6 months in the year. The idea is to keep moving around. Anyway, thanks again.
I was just recently thinking of how much value U get for an EU countries citizenship.....27 countries for 1 EU country citizenship. Many that speak English too and there are some of the greatest countries of the world there. But this definitely gives some food for thought. Especially if U want to get EU citizenship but not live in Europe!
How much would it cost to get a new passport, for the Republic of Ireland if Your original passport and Foreign birth records were lost.I had an Irish passport in addition to my American passport, Just wondering cost wise how much to get both the Foreign birth record and passport, would cost at this time?
Where can you actually do a paper residency? You've mentioned it a few times and there was even a short video on it, but it was incredibly vague. The only country I've heard of doing paper residency, Serbia, has been explicitly denounced by Serbian attorneys.
With the US it is. I am not against paying taxes. There are a bunch of services that I want and am willing to pay the private sector for or if it is done properly be taxed for the government to provide it. My issue is with things like the US where the taxes are outrageous and I don't see shit for it. The infrastructure is falling apart. The public transit system is non existent. We have some kind of weird hybrid govt backed health care system in which I make far too much to qualify for the govt healthcare and because govt healthcare exists the premiums for private healthcare which I have to purchase is fucking outrageous. All our tax money goes to paying debt, bullshit social programs that prop up people who don't want to work, and an industrial military complex that is completely unnecessary. This system is fucked and I am ready to leave.
Andrew M - services like drone striking children in Sryia? Or being locked up for 2 years with covid restrictions? If you care about the betterment of the world, then you have a moral obligation to not pay taxes. You are funding these things with your money.
@@amcmillion3 I thought only Australia was all the above. I keep saying the same. And yes, the reason I am preparing to leave it after so many years. The strictest and the longest 5km lockdowns gave us a push. We are going to the unknown. EU to start with but it might change, depending who offers most freedoms in the end after this madness is over.
@@amcmillion3 exactly! that's the biggest problem with the taxation in California or any other states with high taxation - you can have a high tax rate, but you must provide welfare or service that are on par with such high tax. what welfare or service does ca provide? lol fking nothing! you cannot even live in ca without a personal vehicle...
Brand name shouldn't mean half of your earnings should be wiped out, regardless what you get for it. In California 1% pay 60% of taxes yet California is fast becoming a shithole. Starting point should always be individuals being able to keep as much of what they earn while planning for said benefits.
what are your thoughts on the Ireland immigrant investor visa program? 1M Euro on government approved investment fund plus you need at least 2M Euro net worth and it gives you 2 to 5 yrs residency and then you can apply for Ireland citizenship
Thanks Andrew another great topic. Can you please tell more about Mauritius, me and my partner are thinking of getting 2nd citizenship in Mauritius and highly appreciate your feedback on this. Just came back from this beautiful island and so far is looks very attractive from the tax perspective and the conducting the business. Thanks a million for sharing your thoughts
Only problem with Mauritius is you're limited to housing designated by the government and the prices are heavily inflated due to limited supply. Also if you're from SA you may find it difficult living on an island. Possibly wait for the ANC to collapse by 2024 and see massive structural reforms. DA is already forming coalitions so the cards are being played as we speak.
I have a US passport and an Irish passport....I live in UK and am eligible for a UK passport (through marriage/residence). Would you recommend getting one as well? (be interested in hearing the pros and cons)
@Nathan Mcilveen Transport? People everywhere pay that themselves. Healthcare? I would say that's a separate cost paid by people themselves in the majority of countries. Sanitation? Are you talking about garbage removal? That's separate from the federal income tax in most places I've heard of. Obviously you do get some services, the point is you get poor value for money in most cases. That's why some people complain, especially smart entrepreneurs. They know they could do a much better job with the same amount of money. In same cases you get zero, or even negative value. E.g. when you have to pay for a TV licence and don't watch TV. Then even worse, the programming is so bad it has a negative effect on those who do watch it.
Sorry direction eu passport does not allow you to live anywhere you want in Europe , won't let you live in the UK , we're still in Europe but not the eu .
While that is partly true there is one exception...if ones EU passport is Irish then they can still live in the UK due to rights that predate EU membership and are still intact to this day.
Not so it’s imploding as we speak, the EU as is will not survive. They are absolutely broke with the highest elements of corruption. It’s going down ⬇️
@@sheiladikshit5110 eu elites will be fine....everyone else, struggle to pay their heat and anything else....current solar cycle and more mean very long hard winters for eu (akin to mini ice age in europe 1200 to 1400) and hardship....seems you are a bit too optimistic or under the influence of paid media prostitutes
The EU is collapsing, like Byzance and the Roman Empire before it. Inefficient, corrupt politicians. A few hundred thousand highly qualified leave every year, replaced by low qualified, feeding criminality, coming in from Africa, Middele-East, Asia. Intellectuals more preoccupied with disserting on racism, sexism and whatever else than talking about geopolitics. And a follow up of the Covid story will be a hike in taxes. If you can get one of the passports without living there, great. Pity it is a nice place, with different cultures and a great history..
I dunno bout that. The right have been defanged over in the last century and are the slower wing of the progressivists. The EU is further along the way than the US. Let us see but I'm not holding my breath though.
Forget passports (I have 3), plan B,C,D etc. If you have an EU passport, and a small flat, or even a slip in the old marina of Monaco, you can secure and enjoy a European lifestyle, and have an exit plan in case funny governments want to tap into your hard earned wealth.
The only point for going through the pain of building serious wealth, is to be able to enjoy it with those people that matter to you. Wasting your life in “exotic” places in order to avoid taxes is way too much. Securing access to a few well connected, yet tax friendly jurisdictions is strategically important. For a European, Monaco, Switzerland, Liechtenstein, Luxembourg, even the Channel Islands, are the right places.
But even if you live in a hostile country from a tax perspective, there are strategies to get you out of trouble. For example you can …incorporate yourself. I won’t say more, but spend a few thousands and get some serious advice from E&Y, KPMG and the likes. It is the best investment you can make these days. Seriously, as people become wealthy, they sometimes forget to ask basic questions.
I like your process - looks like you have lived it and taken all options into account - so do I take it that you also have a residence in Greece?
@@ianmoore6165 Ah, that’s a big question. Even when money is not an issue, the choice of residences around the world is more of an art than anything else. For starters, it does make sense for places you visit frequently, and spend time there, to have a home, rather than alternating among temporary residences. This way you travel really light, on very short notice, and you arrive at a place where you have your clothes, your own bed, your own bathroom, your support infrastructure etc.
On the other hand, I have made mistakes in the process and seen others make mistakes too. It is easy to fall in the trap and buy a nice house on the waterfront of the lake in Geneva. But you soon find this to be an enormous waste given the actual time you or another family member spends there. So you really have to be practical. Instead of a house in London for example, it is better to own a comfortable apartment on the river, right across the parliament. And if you made that choice around year 2000-‘05, you are probably sitting on a highly valued property right now. Same in Paris, in New York, anywhere you need to go frequently.
Now, for countries like Greece, Spain, Italy, and any place you would go for a break and not for business, it is not wise to maintain a home, unless of course this is your home country. Having a home in such locations, sort of forcing you to go to the same place most of the time, which is also a waste. Instead, in those countries you may want to station a yacht, and if you don’t have one, you may want to rent one for a week or two, for your break. Same holds for all summer destinations including the Caribbean, the South Pacific etc.
@@Bambotb Everyone has a wealth tax. But have you checked the wealth tax rate for Switzerland? It’s really peanuts.
I moved to Latin America in 2016. Never felt so FREE in my life and was out of my financial troubles thanks to taxation in an instant. Europe is like a constant weight around your neck. It's nice to visit sometimes, but I couldn't live there anymore, no way.
Which country in Latin America out of curiosity ?
Yeah too bad that you can't drink the water and you might be killed if you take the wrong turn.
I needed to hear this
@@somejohndoe3004 Costa Rica
@@GuerreroMisterioso95 You can drink the tap water in Costa Rica. Took many wrong turn and am still alive.
In my home country Germany we will not get a wealth tax within the next 4 years of the new government, but on EU level they plan a wealth register which inevitably will lead to a EU-wealth-tax sooner or later. That’s what all EU citizenship are facing. 🤬
Don't worry Brother.
EU is mostly controlled by Germany & Switzerland & France
@@ashvina8244 As the EU AND Germany desperately needs more money even Germany would be happy to support a EU wealth tax and than can tell their public, that the government has to implement EU law in Germany.
You probably mean an EU resident based wealth tax. Not an EU citizen wealth tax. But then again the wealth tax has been a failure everywhere it has been tried. France finally got rid of it. Because it was a failure for savings. There are also lots of ways around it. Like putting your assets in a company.
Hope you are right. 😎
Everyone is going to turn into Edward Snowden at this point
Good analysis Andrew.
EU have six month rule so get a strong EU passport like Italian or Spain for Visa free traveling but don't live there rather reside in a tax free or low tax country, soon I'm gonna renounce my us nationality and probably get a euro passport.
A Passport from España would be my choice. I grew up a bit there.
I live in the EU and I wanna get out of here asap.
I'm Canadian, I'm also Belgian and I work for the EU....and I definitely want to get out of the EU asap to Nicaragua.
We better duck down the sky is full of flying 🐷 pigs, what a total load of BS🤦🏻♂️
A passport of EU country A gets you residency in EU country B. Can you get citizenship in country B after a few years? Maybe renounce A if they decide to tax it’s citizens abroad.
Yes you can as long as that said country allows dual citizenship, and you meet all the necessary criteria. France for example no problem, restrictions with Germany.
Tax does not make it into the top three issues with the EU : 1) Europe has zero Energy security, making it a grim struggle there in the future. 2) The Refugee problem is intractable, and corrosive. 3) The EU dream has dubious cohesiveness even in good times. Under pressure, it will be the Balkans writ wide. Look at history, except for the past century (only two World Wars!) these countries have always, always fought.
Europe, like the rest of the world has always been manipulated, you mean.
Then as now, no sane person wants war. It has ALWAYS been the infamous powers that shouldn't be instigating these wars.
Europe is one of the most energy secure places on the planet, generally speaking.
@@SuWoopSparrow didn't have well seeing as half the continent is now being held hostage by a tyrannt.
@@yamanosu9463 "Held hostage" is quite extreme. Im actually happy with whats going on energy-wise. It will prompt Europe to be even more independent, which they have the means to do, but chose not to.
I wonder how long counties will go before they start to tax a passport holder, those with a few passports will need to dump them if that happens ?
Hopefully the ease of dropping them makes such a policy a last resort for the egalitarian reptile. Mid-term to long-term, I wonder if current inflation rates have the potential to replace Keynesian planning with a more trade-aware framework like in the 80s. Obsession to tax everything that moves could then lose key rationalization if state spending is no longer seen as a way to prosperity.
Good luck enforcing that.
I don't really see countries with a lot of citizens living overseas imposing taxes on them. On the other hand these countries have been trying to "recover" their citizens living abroad so perhaps if they taxed them people would be less interesting in leaving which is the opposite of what they should do. They should be trying to become more competitive so people don't need to leave in the first place
This is exactly what we were looking for! Thank you! Been waiting for a video like this for years. I’m a fan. Wish we could afford the full service. 😂👍🏼
Abandoned me
The problem with EU is it failed to protect millions like me in UK who grew up as an EU citizen, never wanted a UK referendum in 2016, voted Remain, as forced to vote, and have had EU citizenship an rights ripped off me and nothing from EU to me in aid, or lifeboat. Nothing at all. 14 million or more British Remain voters just walked away from by EU as though we were nothing and are still nothing.
Remember if EU can treat us British (Welsh) EU Remain voters with such disregard when we most needed EU protection… what about you in your EU country? Why would EU parliament, commission, courts etc not simply cast you away too, as inconvenient?
I am one of the abandoned, I’m still an EU citizen in my head but I’ve been left as waste at the side of the road?
Why?
Because the EU is a totalitarian and disgusting attempt to destroy the national sovereignty of all its member countries. They do NOT care about the people they pretend to serve.
Sorry but your country chooses to quite the EU, and chooses not to stay in the common market as it was offered. So you're a third country now ! And UK was the one when
in UE who propose to re-enforce the laws towards 3rd countries !
UE can't legally take care of non EU citizen non living in the EU.
But I totally understand you, my british in-laws truly EU, are also feeling trapped now in UK. One escape to Danemark, one to Nederland.
I have french and canadian citizenship, high taxation is not great. My mother who had retired in France while still owning a canadian based business had to move back to canada this year because France wanted her to pay taxes there and they were starting to count retroactively since she had left France almost 10 years ago...
There is its upsides to it however, I've lived in france, spain and italy thanks to that passport. there is no jobs however, best to retire there, not great for entrepreneurs in my opinion.
If I could I would trade for a US passport.
Better to negociate with this administration when they have nothing to seize.
When your taxes aren't mostly spent on maintaining war and debt...
With a EU passport you can move to countries like Belgium, Germany or Ireland pretty easily if you want to have a solid job opportunity.
Nearly every Canadian I know would rather have a US passport
@@ggabbay0 id trade the european one for it too lol.
Andrew is that a solid gold 24 karat Toucan?
your'e crushing it bro! $$$
lmao
Lol doubt that
Thoughts on how this may effect Montenegro if it joins the EU as it likely will
UAE is basically the last place where you can still do offshore stuff and get a bank account with relative ease. If FATF / USA / EU put even just a little bit of pressure, UAE will cave in. Watch this space. And then you will not have any place as SG and HK are already super hard. There is nowhere left to run.
The EU is not going to last much longer so once Poland leaves it is the end and others will reconsider whether it's worth it being in the block.
No way Poland leaves imo, neither side wants that to happen. EU is supporting Poland 100% with regard to the Belarus border crisis also.
Poland or Hungary kicked out would not be good, but long from mortal
The polish population really really wants to stay in the EU, it's just some politicians playing with fire. But since the EU can't kick anybody out anyways, poland will probably just stay. There will be some monetary sanctions (already in place) but i think that's all.
Most EU citizens really like the EU. I think there is not a single EU country where the EU leavers are close to a majority. The advantages are so obvious. Reforms may be needed, but that applies to practically every political entity.
If a country like Spain wanted to impose a tax on Spanish citizens residing outside of Spain, it would be easy for them to enforce the tax, in either of two ways: (a) denying passport renewal for those who had failed to meet their tax obligations, and (b) for those who chose to return to Spain to live full time (or even part time), the government could get the money out of them at that point. And for those who NEVER returned to Spain and who NEVER renewed their passport then yes.... the Spanish government probably couldn't collect the taxes owed, but it wouldn't much matter either.
I'm surprised you said Germany is a high tax country. The taxation laws are very complex but if you put enough time and effort into your tax return you shouldn't be paying much, if any tax. Also property tax is virtually zero and crypto gains are also zero % if you hold for at least 12 months.
Add in free university, great, affordable health care and a relatively low cost of living, it really isn't that expensive to live there. Also it's a classless society so that, particularly in rural and small urban locations, everyone partakes in the same society and activities regardless of income.
Oho? I thought property tax was 0.26-1% yearly. Have things changed?
@@sirgalahad2 no where near that in Germany. I pay around €200 a year for a house worth close to €500K. No wealth tax and 0% tax on crypto held for at least 12 months.
Amazing information 📝 How about Belgium 🇧🇪
I want to move somewhere where the weather is cold, Im required to take an experimental vaccine, and I'm taxed at least 50% of my income. Any suggestions?
Canada would be #1 on your list
Welcome to The Netherlands!
The way I said basically seventy or eighty percent of countries worldwide are going to require a vaccine to even travel and enter there. That's not a hill I want to die on. Would I've chosen the vaccine if I wasn't in the service and wasn't a medical doctor, probably not but I like to travel so the choice is clear.
doesn't exist, except for in some maga fantasy land
Try to do a research on any of the three Baltic countires. Ukraine is another option!!
European taxes, no thanks
@@marcind4644 Actually you pay more in the U.S. No one mentions the insane property taxes, HOA fees, tax on everything and meds through the roof. In many EU countries you pay the price at the register you see on the item, not surprise sales taxes. If one adds it up hmmmm.
@@marcind4644 👍
Got a question for you, I'm a U.K. citizen but I can apply for German and/or Portuguese passports by descent. I speak german, not Portuguese (I read I don't need to though as it's "direct descent" from my dad, not my grandparent). I have some Crypto that I want to "protect". also, I wouldn't mind being able to swan about E.U. countries like I used to be able to.
So, 5 questions,
1. how long does it take to actually get the citizenship you think in either Germany or Portugal, which is faster in your opinion?
2. Would you prefer one above the other in terms of "crypto-friendly tax" or should I just apply for both, or neither?
3. Is there any point at all in having both seeing as they are both E.U.?
4. Am I adding some liability by becoming a citizen? I don't hear people talk about any pitfalls in getting 2nd/3rd passports.
5. Does your company help with this form of acquiring citizenship, or is it too basic and I should just apply through the consulate myself with the paperwork? Can you help with getting and crypto advice, if so, do let me know.
Thanks in advance, I like the channel.
Well I can answer with the german one. Once I paid the fee and provided all of the documents I recieved the passport in 3 months. Granted I splurged on the rush shipping but it is doable. Is get all of the documentation together at once as my advice including genealogy charts. If you have living relatives in Germany it will go even faster. You will be required to go in for an appointment at your local embassy, I think a lot of the speed depends on the discretion of the worker Is so if you have your genealogy chart and all your paperwork set together as well as the money bring it in cash, I should see no problems
Wait until you see which countries are worse for 'pandemic' restrictions before making a choice.
@@marcind4644 Thanks for the reply, some good information. I'm already living in Japan (last 5 years) so I think that makes tax a resident in Japan, not the U.K. at this time. Although I'm not sure if there is something I should have done to make this official so to speak, any idea if I should have and if so what? You said about checking tax residence, can't I just declare that I'm tax resident in Japan, I mean records will show I haven't been in the U.K or derived any work from it for 5 years now, so it should be obvious.
Thanks also for the "no real downsides" idea. Do you think I should just apply for both? I'm thinking things like visas in non E.U. countries would maybe make this a good idea. Like you can stay for 90 days on one passport, then leave, then go back in on a second passport, then get 90 days on that. Little things like this might work, I'm not sure. I don't intend to live in any country more than 6 months in the year. The idea is to keep moving around.
Anyway, thanks again.
I am really looking forward to the day you will write a script and make a video straight to the point. High valour, less time, inevitable growth.
we don't even now what will the size of eu in next 20 years maybe 50% countries developed countries like france and ireland may leave eu for good
I was just recently thinking of how much value U get for an EU countries citizenship.....27 countries for 1 EU country citizenship. Many that speak English too and there are some of the greatest countries of the world there. But this definitely gives some food for thought. Especially if U want to get EU citizenship but not live in Europe!
plus eea countries and switzerland.
How much would it cost to get a new passport, for the Republic of Ireland if
Your original passport and Foreign birth records were lost.I had an Irish passport in addition to my American passport,
Just wondering cost wise how much to get both the Foreign birth record and passport, would cost at this time?
We are living in Frankfurt.
Where can you actually do a paper residency? You've mentioned it a few times and there was even a short video on it, but it was incredibly vague. The only country I've heard of doing paper residency, Serbia, has been explicitly denounced by Serbian attorneys.
What about the St Kitts passport? They have a sale!!! On donations right know $150k per family of 4.
What do you get with the St Kitts - is it EU access? Or just that island - that is the question.
No paran de cambiar la realidad de una agresion
@Nomad Capitalist Andrew, if you are already an EU citizen, do you think it makes sense to get say Maltese citizenship for non-dom tax treatment?
High tax places doesn't necessarily means it's a bad place to live and raise a family, iust know that brand name comes at a cost.
With the US it is. I am not against paying taxes. There are a bunch of services that I want and am willing to pay the private sector for or if it is done properly be taxed for the government to provide it. My issue is with things like the US where the taxes are outrageous and I don't see shit for it. The infrastructure is falling apart. The public transit system is non existent. We have some kind of weird hybrid govt backed health care system in which I make far too much to qualify for the govt healthcare and because govt healthcare exists the premiums for private healthcare which I have to purchase is fucking outrageous. All our tax money goes to paying debt, bullshit social programs that prop up people who don't want to work, and an industrial military complex that is completely unnecessary. This system is fucked and I am ready to leave.
Andrew M - services like drone striking children in Sryia? Or being locked up for 2 years with covid restrictions? If you care about the betterment of the world, then you have a moral obligation to not pay taxes. You are funding these things with your money.
@@amcmillion3 I thought only Australia was all the above. I keep saying the same. And yes, the reason I am preparing to leave it after so many years. The strictest and the longest 5km lockdowns gave us a push. We are going to the unknown. EU to start with but it might change, depending who offers most freedoms in the end after this madness is over.
@@amcmillion3 exactly! that's the biggest problem with the taxation in California or any other states with high taxation - you can have a high tax rate, but you must provide welfare or service that are on par with such high tax. what welfare or service does ca provide? lol fking nothing! you cannot even live in ca without a personal vehicle...
Brand name shouldn't mean half of your earnings should be wiped out, regardless what you get for it. In California 1% pay 60% of taxes yet California is fast becoming a shithole. Starting point should always be individuals being able to keep as much of what they earn while planning for said benefits.
What's your income?
Nice to have the clarification.
Sovereign individual explains what is happening now.
what are your thoughts on the Ireland immigrant investor visa program? 1M Euro on government approved investment fund plus you need at least 2M Euro net worth and it gives you 2 to 5 yrs residency and then you can apply for Ireland citizenship
Ireland is a Bolshevik Communist enclave just run no matter the PR.
@@sheiladikshit5110 Which ones?
How long do I need to spend in Ireland per year to do this?
Andrew, I got Hungarian citizenship by descent in 10 months. It doesn't always take 2-3 years.
Did you have to learn Hungarian
@@MILE011 yes. I speak fluent Hungarian so that wasn't a problem. My best friend did get denied though because his Hungarian is not good
Thanks Andrew another great topic. Can you please tell more about Mauritius, me and my partner are thinking of getting 2nd citizenship in Mauritius and highly appreciate your feedback on this. Just came back from this beautiful island and so far is looks very attractive from the tax perspective and the conducting the business. Thanks a million for sharing your thoughts
Only problem with Mauritius is you're limited to housing designated by the government and the prices are heavily inflated due to limited supply. Also if you're from SA you may find it difficult living on an island. Possibly wait for the ANC to collapse by 2024 and see massive structural reforms. DA is already forming coalitions so the cards are being played as we speak.
I definitely have 8-figure income in Turkish lira.
Hungary already implements citizenship-based taxation
Andrew... Everything is turning Digital so they can see everything that will happen and where you all will be at. Count on it! 😊
Basically the EU needs to fold like a taco.
In Scandinavia all taxes ( VAT included) and debts have a time-limitation period a five years, after that expired debts can no longer be collected.
Who pays for that debt then (when it expires and no longer collected)?
I seek an Indo-European Citizenship so kindly suggest a suitable plan
Bhai tamaara pahe kitli paiha che passport waaste?
At the end of the statement: Go where you're treated the best
I have a US passport and an Irish passport....I live in UK and am eligible for a UK passport (through marriage/residence). Would you recommend getting one as well? (be interested in hearing the pros and cons)
@Vercingtorix7 I am able to use the NHS now, as I have Irish passport and am resident in UK...so would need to be other benefits/pros to it
Is it easy to emigrate to Russia?
Why would you want to?
Just say no!
You generally take free things that are offered to you? There in lies the problem.
why is everyone so afraid of tax?
Because it's an incredible waste of money. It's crazy how good politicians are at getting only a dollar's value from one hundred dollars in tax.
@@MrHarumakiSensei than dont elect those politicians..
@@tjlate I'm outnumbered by credulous people with short memories.
Good point. If no one pays tax, where will the services come from?
@Nathan Mcilveen Transport? People everywhere pay that themselves. Healthcare? I would say that's a separate cost paid by people themselves in the majority of countries. Sanitation? Are you talking about garbage removal? That's separate from the federal income tax in most places I've heard of.
Obviously you do get some services, the point is you get poor value for money in most cases. That's why some people complain, especially smart entrepreneurs. They know they could do a much better job with the same amount of money.
In same cases you get zero, or even negative value. E.g. when you have to pay for a TV licence and don't watch TV. Then even worse, the programming is so bad it has a negative effect on those who do watch it.
How about the offshore islands of China?
Why would you want to move to a totalitarian country?
No such thing as EU citizenship.
Exactly, there is no legal status of a "EU citizenship".
It’s a short title and everyone watching this channel knows what he means
there is - being a EWR citizen gives you rights in other member states that no citizen of a 3rd country has
@@MariaBelenSeyssInquart if you are a citizen of an EEA country, you have quite clearly defined legal rights in other member states
Sorry direction eu passport does not allow you to live anywhere you want in Europe , won't let you live in the UK , we're still in Europe but not the eu .
nice that you perceive it that way, but very often folks in the UK talk about "Europe" as that place on the other side of the Channel.
While that is partly true there is one exception...if ones EU passport is Irish then they can still live in the UK due to rights that predate EU membership and are still intact to this day.
There in Albion, the subjects always say you are not Europe.
except irish passport.
Bird Beak Better
Lol. You’re not getting the props you should for this comment.
The EURO and the Eurozone will survive the next 20 years,this might be interesting.
Not so it’s imploding as we speak, the EU as is will not survive. They are absolutely broke with the highest elements of corruption. It’s going down ⬇️
@@sheiladikshit5110 eu elites will be fine....everyone else, struggle to pay their heat and anything else....current solar cycle and more mean very long hard winters for eu (akin to mini ice age in europe 1200 to 1400) and hardship....seems you are a bit too optimistic or under the influence of paid media prostitutes
@@sheiladikshit5110 😭🤯😭
The EU is collapsing, like Byzance and the Roman Empire before it. Inefficient, corrupt politicians. A few hundred thousand highly qualified leave every year, replaced by low qualified, feeding criminality, coming in from Africa, Middele-East, Asia. Intellectuals more preoccupied with disserting on racism, sexism and whatever else than talking about geopolitics. And a follow up of the Covid story will be a hike in taxes. If you can get one of the passports without living there, great. Pity it is a nice place, with different cultures and a great history..
@@wendymoore7641 should you not look to your own place for corruption ? You are way better there.
As long as the right wing are majority in Europe..then it's safe
Even if it´s not, as we´ve seen with Brexit the Union cant "Overeach"
@@sebas8225 with Brexit they've got a lesson in fact they've removed some countries on black list for tax purposes
I dunno bout that. The right have been defanged over in the last century and are the slower wing of the progressivists. The EU is further along the way than the US. Let us see but I'm not holding my breath though.
Countries with public spending over 50% GDP are right wing?
@@invest48 Divorce your American definition of right wing from the International definition. The conversations will make a lot more sense.