Moving abroad isn't what you think (Here's why)
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- Опубликовано: 9 июн 2024
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Introducing Michael Rosmer, the true modern-day Renaissance man and international entrepreneur, who has been mentored under top international tax attorneys.
He is widely regarded as the foremost international tax expert for legal cross-border tax planning, with extensive experience in immigration, residency, and second citizenship for those seeking a plan B, asset protection, global offshore banking, and payment processing.
Michael leads a team of lawyers and accountants who are top experts in their respective fields. This multi-lingual, multi-national team has worked with digital nomads, entrepreneurs, and investors from 62 countries, providing practical real-world multi-dimensional solutions for their clients.
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What you didn't explicitly mention, but seemed to allude to tangentially is that in supposedly rule of law countries (such as the EU, Canada, Australia, etc), those in the political class (and those who fund said politicians) most definitely operate outside of the laws, which are designed for everyone else, to the benefit of said political class. I am generalizing, but its an important point to make. If I were to summarize, in countries where the rule of law isn't followed, corruption is in our face, whereas in countries that supposedly have rule of law, corruption is much more sophisticated and more hidden from the common people.
Exactly! Their own laws are corrupt so they have VIP access to more reasonable deals while everyone else is supposed to cycle to work and live in a rented chicken coop.
"Rules for thee and not for me...." is the worst system. 😕
I've still yet to wrap my head around how people do this. Morally speaking I can feel it takes a toll on me, having to understand and adopt what's acceptable in that society just to be able to play the game, even if you feel it's wrong and you're so-called circumventing the rule of law.
Would love for you to make a video and do a Tier list, putting the countries that are mos commonly considered by expats and where they lie on the spectrum, and a few details about each. Interested to hear how Georgia changed specifically, and what a no-no now that was the usual before.
Great suggestion
not to piss against wind it is key rule.
I love your vidoes, they are very insightful.
I would be curious if you can make a videos on some examples on typical things that are on the books but not enforced in different countries. For example which countries enforce that second passports are not allowed and how they find out/process this
those Sweden rules sound insanely Authoritarian ! like wow
Very informative, thank you
I know many of you are excited about Argentina and the change of government. Milei (the new president) brought back income tax, hasn’t changed the currency controls and is still printing money. Sometimes people need to look more than only the speeches and social media posts of a candidate. Policies are more important.
Massive truth bomb!
Just common sense.
in Argentina the parallel exchange rate is called: Blue Dollar. Or "dolar blu"
As a Brazilian, I approve the message in the video 😅
Now being out of Canada I am well aware of this now living in other countries....Very freeing feeling actually.
What countries have you all lived in? How was the experience?
@@OffshoreCitizen Serbia and Mexico. Other places for 3 months at a time as a tourist..that doesn't count. I count it when you have local non expat friends, have bank accounts, gym membership and or residencies and have a lease or own a property. We bounce between Cyprus and hungary as well. Experience in Mexico was good. Immigration is fairly easy if you have someone to help you. Signing a lease is also fairly straight forward. I did not open up a bank account there. Overall after living in Mexico for 2 years, it just wasn't for us, but we will go back for visits. Serbia bureaucracy it a lot, but if you find a good lawyer it can reduce that burden substantially. I have opened a bank account here, which wasn't too bad when you had a lawyer involved. We like Serbia a lot more than Mexico, however this is just a personal preference. Also, in Serbia, because of the reasons you said in the video, the taxes are very very low for us in our particular situation. There is no point in us committing to Cyprus as a non EU citizen since taxes there would not be any lower compared to Serbia. We still would like to have a Hungarian base as well. Will be checking out Argentina next year, and possibly looking at Mendoza to make it a base for part of the year.
So important to remember, wise words spoken
💯I know exactly. I called it theory and practice. You might have a country like germany where the theory of law is exactly the same as the practice and another like Argentina where it differs widely. As for the "blue rate" in AR, I would call it the market rate, and the rate written by law is the paper rate. I say that because the blue rate is the number the market(even government services) operates on making the paper rate more like a donation rate.
This was an excellent video! Thank you! 🔥
A pleasure! What are your thoughts?
The difference is in Europe only the rich can break the law, legally, as they just have it written to favor them, while in other countries everyone can do the same to a certain extent (not in many circumstances but you won't get a fine for changing your front door color without a permit). Everybody uses cash for small transactions if they want and nobody is tracked on every small expense. I am growing increasingly frustrated in NL
I'm relocating to Brazil, I am trying to follow the rules, but know I can likely fall back on paying people off if needed. I would be resistant to this because it is a double-edged sword.
Good insight and it is quite useful to me
Good to hear! What are your thoughts?
Years ago, while stationed in Asia with the U.S. Army, the banks paid one rate and certain "shop Keepers" paid differing rates. Each cash exchange could be different. $1.00 military script got paid one rate while $1.00 cash was paid a different rate. The size of bill got different rates depending on the size of the bills. There are countries which still do this today. The more depressed the local economy the more pronounced this behavior becomes. "Hey taxi, take me to ---." "You pay (local currency) or dollars?" If you say dollars, you just made a friend for life.
very interesting 👍
What are your thoughts?
Only $5k????
In my understanding the dept or extention of it is the real differentiator here. It's a very tiny layer at the top in Germany or similar countries that will attempt certain things, deploying connections, working around a certain rule and so on. Think the Berlin airport scandal, the big fintech scandal lately and stuff like that. In Argentina it's everyone, those things are less precluded, have less barriers, they are available and the means everyone will feel perfectly entitled to reach to. It's like deviant or forceful stuff let's say, dries up, rarifies, the more "civilized" a place is.
In EU countries with large social programs, the different programs/funds/grants are the form of corruption. For example, they are selected by individuals or groups and of course they are biased with their “criteria”. Entire industries live off government funding and climate change companies are one of the most corrupt ones
I live in Bavaria and don`t see it as a country of law, I know they put a lot of effort in keeping this picture alive, a 3rd world country hasn`t the means to keep such a picture alive but our country has. Search for the Mollath case in Bavaria, what they did to this guy.
The first policeman in Mauritius who told me "no, no need to pay your fine by credit card, just pay it by cash. And you'll even get a discount [wink wink]" I was a bit astonished, but in the end everyone was happy.
This exist in EU too, and is actually standard procedure. If you don't pay a fine for say breaking a traffic rule to the badge and in cash, the administrative costs are higher, courts can get involved and while this is the only way if you wanted to complain or something, it would also cause the fine to become significantly higher.
But are you talking about bringing cash into Argentina?
Is Italy a land of law?
North, South or Sciliy?
AR pesto "real" rate is known as the "blue" rate.
Ha ha lols, getting busted in Thailand for drinking and driving, give the cops a few thousand baht (100 bucks) then they tell you to drive too the ATM to get the money! I love it lols, Thailand rocks!
Bulgaria's passport scheme lives rent free in Michael's head 😅. I know the feeling 😅
If only did I know back then! 😅
@@OffshoreCitizen same here lmao
shocked.. I don't want to ever step into land of SA when I'm alive
Basically go learn about before mo i g before going there
If you think Argentina is corrupt, wait till you visit India 😂
😂
Agree with your discussion, except on the subject of immigration. Most ‘3rd world’ countries protect their borders better than ‘1st world’ countries. Try entering without a passport or overstaying your visa in Mexico or Thailand for example. You’ll get free room and board in jail!
You dont go to jail for overstaying your visa in Mexico. Stop talking about what you know nothing about.
Thanks for another great video! How is the situation in Malaysia and Thailand? I’m aware of corruption, but how bad can it be? Just trying to understand the rules there.
Hello Sir,
Are you looking for a professional RUclips thumbnail designer to grow your views?
This is one of the most amazing videios you made ... Would you please share your email so that I could comment on that with a more profound explanation?