Thanks for the video. I am Irish and considering moving to Bulgaria at some point in future. I have an apartment there for about 10 years now and recently got a residency card.
I’ve made a separate video on this, make sure to check it out. It’s more on the pros and cons but I do go over a lot of the above mentioned inquiries. I may need to record a video where I am more descriptive on those specific items.
Hello! I have discovered your channel tonight and I like the content where you talk about countries. I was wondering, would you recommend Greece or Bulgaria for somebody that isn't into IT? I am a hyperpolyglot and language specialist and, given the situation worldwide, I am thinking of moving out of Portugal, since the rent is spiraling out of control (at least in Lisbon). What do you think? Thank you for the content and good luck!
Hey!! Greece is an awesome option - you just have to consider all the personal variables. As a language specialist will you be working online? Do you depend on work where you have to physically go somewhere? Taxes between Portugal and Greece are somewhat comparable - if that's cool with you then that's fine. If you have to depend on the local economy and salary, neither Greece or Bulgaria are great as rent-to-income ratio isn't that awesome at all. I don't know what you get paid in your sector in either countries, I'd research that, then research rent and cost of living and try to make a decision that way.
Γειά σου Jim, thanks for this video. I am half Cretan but have lived my whole life in Canada and just got my Greek citizenship last year. I have thought about living in Greece but like you I really don't want to do the military service. I have thought about living in Greece 6 months of the year and 6 months somewhere else. Do you know if it's possible to do this, to live 6 months in Greece and 6 months somewhere else in Europe?
Given the terrible taxes there I would definitely not do it. If I were to enroll under the Non Habitual Regime I could be there for a number of years without worrying about this but this is only possible now that I am a business owner. Wasn’t possible then. Do you live in Portugal?
@@JimPastirmatzis, no, I actually live in the UK, but I am looking for a country to live in when I retire in 8 years time. I like the warmth of southern Portugal and of course I feel comfortable knowing that there are a lot of black people there. I considered Spain too and the Philippines, but didn't like the fact that foreigners can't own land in the Philippines. I like Cape Verde for the constant warm temperature too, but was looking at Bulgaria for the value for money. Thinking about Ghana too. The drawbacks in Bulgaria for me are fear of racism, very hard language to learn and cold winters.
@@VWApachey If you don't like cold south Bulgaria would be preferable. I don't think you should be scared that much of racism you will just get stares because most people haven't seen black people. If you know only English you would be Ok but minimal language skills would be preferable for navigation. I personally think you should check it out because it is beautiful, cheap and fun ;)
@@boyanvalchev2953. Thanks, I think that I will definitely go and check it out. I just hope that they don't think that I am a Roma because I hear that they get treated very badly, but I am definitely looking forward to visiting in a few months time and I am very interested in investing in a property that suits my needs. Can't wait 😊
@@VWApachey No chance anybody thinks you are. Roma don't speak English usually have bad clothes and have 5children near them. I personally suggest Teteven and Qblanitsa but I think wherever you go you will be fine :)
I believe lowest vaxxed country in E.U. and probably half of documented vaccines in this country are fake - paid doctors that insert people in the system. I believe you can show previous infection, Green Pass or negative PCR to enter places. Frankly the security checking people in majority of places don’t care at all. They don’t even look or scan the document they just nod you in like showing ID to ensure you’re of age when entering a club. Lol
@@JimPastirmatzis thanks so much! I only hear great stories about Bulgaria. Right now I live in the Netherlands but the rules are getting crazier & crazier here!! It scares me. I'm also allowed to take my stafford dog with me right?
you could mention that to setup business it looks less an hassle than also in many countries. Not mentioning that part of the economy is grey ( 40% of GDP ), so many of small business do not pay full tax and a lot of services are cheap ( haircut is 3-4 e ) , regarding the fact that your roots are close , you can also easily have access to more premium product ( Bulgaria is in the category lower ) . For the military service it could have been an interesting experience for you , you will not get more money for sure but some good experience and fun to remember. I did my conscription military service 25 years ago , and it was one of my best time ... good social experience.
I can agree with all except military. Would you drop a multi-million dollar business that it took you 10 years to build in order to go? Believe me there is no way it can be run while in the military.
@@JimPastirmatzis its because you started already your business , you were not supposed to do it from 18 yo regardless studies ? It remind of my buddy in Army who had "small transport company" 3-4 trucks before to go to army but he was already 24 yo ... he lost his business for the 3-4 month that he needed to solve his issue. They made for him exemption , but it was possible in that time coz France ( my country ) was going to professional army, Greece I think has increased her duration due to the issue with Turkey. Did you ask to be exempted ? Its possible sometimes if you proof that you run a business.
We are looking into all possible options but definitely wasn’t as simple as getting an exemption on the basis of running a business, that would be great if it was possible. Also yes, the minimum is now 1 year. I am sure there are memories from the military some cherish, I know a lot of people find it to be a ginormous waste of time, but regardless of that it’s not even a consideration for me given my other interests and commitments.
In Greece, I thought you can pay yourself dividends from a foreign company and pay only 5% tax? On top of that capital gains from selling stocks is at 0% tax?
@@JimPastirmatzis thanks for your reply. To confirm, if I have an overseas company in say Hong Kong, I pay HK corporate tax, then there is zero tax on dividends in HK (no withholding), then just pay 5% in Greece? Any idea if solidarity tax is calculated on dividend income too? Thanks again
I've visited Bucharest a couple of times and I'm a big fan, but given taxes, I'd much rather move to Budapest if I were to choose. (I also like Budapest better)
@@juliobarca that's personal income tax. Corporate is higher. Social security taxes are higher as well. Personal income tax in Bulgaria can go lower than 10%. Typically 7.5%.
The local authorities and regulations / extortion and corrupy government should also be taken into consideration. The taxes may be low , however 90% of foreign business left because of government bribes and irregularities
I acknowledge the corruption in my other video where I speak about the pros and cons of living in Bulgaria but definitely didn’t know or hear that 90% of foreign businesses left as a consequence. Where did you get that intel from?
@@JimPastirmatzis this was official statistics from 2020 . Since then it hasn't got better. And majority of the foreign money coming from overseas into Bulgaria are from working immigrants who give back to their relatives just to keep them alive and pay bills. The standard of living for locals is horrible. Average salary of 500 euros per month , the lowest in EU and some of the highest costs for utilities.
Official statistics from where? Can you send me whatever literature you used to cite the above figures? I can agree that standard of living is by no means the best for locals and it's why many young people flee the country in pursuit of a better career elsewhere with more potential. Something similar is happening in Greece as well, unfortunately.
@@JimPastirmatzis i seen it on the news bTV last year. I'm sure the article is out somewhere else too. Also here is stats from the most recent census. От 7.3м на 6.5м души за 10г. София от 1.2м на 1.5м души за 10г и 700хил жилища. Средна възраст 42г
@@user-xp8xg8yp2n yes, Bulgaria in general has a decreasing population but that doesn't tell me much about foreign businesses not pouring in due to favorable tax jurisdiction. It's something I need to look into, the 90% figure was quite bold but if you say that's the case, I'll take your word for it for now, just need to look into it.
I'm glad to hear that you're doing quite well in Bulgaria setting up a business and payless tax onion field but it's quite easy to do but that's not quite true Bulgaria has been very discriminating towards the UK England and is using covic-19 and is using it for an excuse to prevent people travelling from the UK to Bulgaria for holidays or business Bulgaria visa for financially if it doesn't change what it politically doing incorrect now towards the UK because we are no longer in the EU but we still have very strong issues with the EU and guidance what is in the UK favour and also UK is no longer in the red zone and free travel is for everybody today access into the UK quite easily from the EU and set up businesses or just holidays lots of people from Bulgaria travel to the UK every day of the week quite easily and fly with Wizz Air travelling to the UK is quite easy for Bulgarian people
Please believe me when I say this, but we are actually trying to protect you from us, rather than the other way around. Bulgaria has the worst vaccine rate in the EU and the situation on the ground is abysmal. The tourism industry in particular has been hit really hard. Places which used to be tourism hotspots for hundreds of people, now barely have around 5-10 visitors per day. Lots of small businesses have filed for bancrupcy and things are not looking to get better anytime soon. This has nothing to do with your nationality, it's all to do with the current situation on the ground.
From February 1st you can enter Bulgaria with a simple negative PCR test (72 hrs) or even a rapid test. (48 hrs) Just read it on the UK government website. You can come in other words regardless of whether you have the jab or not at this stage and regardless of the category the UK is in. Of course do your own due diligence before flying out and even call the embassy and confirm. A lot of the travel restrictions at this stage are insane, not just here but around the world.
I build all the marketing and sometimes sales infrastructure for startups and take them from low or non existent numbers to multi million dollar companies. Also an investor in other companies and startups. But my bread and butter is marketing.
Hello from Drama my friend, im an 18 years old teenager and i would like to see some videos about how to set up businesses and also quick question do u have any social media so i can ask you some questions?
Happy to shoot videos about how to set up businesses, though the question is kind of vague. What kind of businesses? Do you mean how to structure your corporation? Do you mean how to set up an ecommerce store/clothing business, or online marketing business? There are many types of businesses. If you can be more specific, I'd be happy to look into this and consider what videos to create. Have you subbed so you can get notified for when I put them up? As far as socials go, best way to reach me would either be via email jim@pastirmatzis.com or on Linkedin. I have the link on my channel, happy to talk with you.
Thanks for the video. I am Irish and considering moving to Bulgaria at some point in future. I have an apartment there for about 10 years now and recently got a residency card.
Hi Jim could you mention about the expenses in bulgaria like rent, food in detail thanks for sharing
I’ve made a separate video on this, make sure to check it out.
It’s more on the pros and cons but I do go over a lot of the above mentioned inquiries.
I may need to record a video where I am more descriptive on those specific items.
Can you make one video on setup business in UAE and get residential visa ?
Yes. Can do one like that in the near future.
Nice videos - I'm hitting the subscribe button :) What kind of business do you run?
Thanks!
I run a marketing business, a lingerie business, have a podcast, multiple investments in different companies so equity and crypto.
Hello! I have discovered your channel tonight and I like the content where you talk about countries. I was wondering, would you recommend Greece or Bulgaria for somebody that isn't into IT? I am a hyperpolyglot and language specialist and, given the situation worldwide, I am thinking of moving out of Portugal, since the rent is spiraling out of control (at least in Lisbon). What do you think? Thank you for the content and good luck!
Hey!! Greece is an awesome option - you just have to consider all the personal variables. As a language specialist will you be working online? Do you depend on work where you have to physically go somewhere?
Taxes between Portugal and Greece are somewhat comparable - if that's cool with you then that's fine.
If you have to depend on the local economy and salary, neither Greece or Bulgaria are great as rent-to-income ratio isn't that awesome at all.
I don't know what you get paid in your sector in either countries, I'd research that, then research rent and cost of living and try to make a decision that way.
Γειά σου Jim, thanks for this video. I am half Cretan but have lived my whole life in Canada and just got my Greek citizenship last year. I have thought about living in Greece but like you I really don't want to do the military service. I have thought about living in Greece 6 months of the year and 6 months somewhere else. Do you know if it's possible to do this, to live 6 months in Greece and 6 months somewhere else in Europe?
It’s of course possible just not sure how it would work with military.
For taxes you probably want to stay quite less.
I believe that it’s a 3 month stay. You can buy out your service with a fee.
No double taxation. You will get taxed in Canada
Thanks a lot!!!
2:38 you mean 25 (24) MegaBITS/s. That's 1/8 of a MegaBYTE.
Shit…. I have noticed saying megabytes instead of megabits before.
Thanks for the correction. Unfortunately can’t edit that.
Hi, did you consider Portugal? (moving there), would love to hear your feedback.
Given the terrible taxes there I would definitely not do it. If I were to enroll under the Non Habitual Regime I could be there for a number of years without worrying about this but this is only possible now that I am a business owner. Wasn’t possible then.
Do you live in Portugal?
@@JimPastirmatzis, no, I actually live in the UK, but I am looking for a country to live in when I retire in 8 years time. I like the warmth of southern Portugal and of course I feel comfortable knowing that there are a lot of black people there. I considered Spain too and the Philippines, but didn't like the fact that foreigners can't own land in the Philippines. I like Cape Verde for the constant warm temperature too, but was looking at Bulgaria for the value for money. Thinking about Ghana too. The drawbacks in Bulgaria for me are fear of racism, very hard language to learn and cold winters.
@@VWApachey If you don't like cold south Bulgaria would be preferable. I don't think you should be scared that much of racism you will just get stares because most people haven't seen black people. If you know only English you would be Ok but minimal language skills would be preferable for navigation. I personally think you should check it out because it is beautiful, cheap and fun ;)
@@boyanvalchev2953. Thanks, I think that I will definitely go and check it out. I just hope that they don't think that I am a Roma because I hear that they get treated very badly, but I am definitely looking forward to visiting in a few months time and I am very interested in investing in a property that suits my needs. Can't wait 😊
@@VWApachey No chance anybody thinks you are. Roma don't speak English usually have bad clothes and have 5children near them. I personally suggest Teteven and Qblanitsa but I think wherever you go you will be fine :)
Thanks so much. I'm not vaxed, how is it over there? Do you need to show a greenpass or QR for example to enter places?
I believe lowest vaxxed country in E.U. and probably half of documented vaccines in this country are fake - paid doctors that insert people in the system.
I believe you can show previous infection, Green Pass or negative PCR to enter places. Frankly the security checking people in majority of places don’t care at all. They don’t even look or scan the document they just nod you in like showing ID to ensure you’re of age when entering a club. Lol
@@JimPastirmatzis thanks so much! I only hear great stories about Bulgaria. Right now I live in the Netherlands but the rules are getting crazier & crazier here!! It scares me. I'm also allowed to take my stafford dog with me right?
I’m pretty sure you’re allowed though I’d do proper due diligence before doing so.
What have you heard of Bulgaria?
@@JimPastirmatzis Low taxes, low cost living, fast internet 😁 only 20% vaxxed. And I saw I need to show a negative PCR test
And I live in the Netherlands. Bulgaria put us on the red list. I'm scared for what is coming here
you could mention that to setup business it looks less an hassle than also in many countries. Not mentioning that part of the economy is grey ( 40% of GDP ), so many of small business do not pay full tax and a lot of services are cheap ( haircut is 3-4 e ) , regarding the fact that your roots are close , you can also easily have access to more premium product ( Bulgaria is in the category lower ) . For the military service it could have been an interesting experience for you , you will not get more money for sure but some good experience and fun to remember. I did my conscription military service 25 years ago , and it was one of my best time ... good social experience.
I can agree with all except military.
Would you drop a multi-million dollar business that it took you 10 years to build in order to go?
Believe me there is no way it can be run while in the military.
@@JimPastirmatzis its because you started already your business , you were not supposed to do it from 18 yo regardless studies ? It remind of my buddy in Army who had "small transport company" 3-4 trucks before to go to army but he was already 24 yo ... he lost his business for the 3-4 month that he needed to solve his issue. They made for him exemption , but it was possible in that time coz France ( my country ) was going to professional army, Greece I think has increased her duration due to the issue with Turkey. Did you ask to be exempted ? Its possible sometimes if you proof that you run a business.
We are looking into all possible options but definitely wasn’t as simple as getting an exemption on the basis of running a business, that would be great if it was possible.
Also yes, the minimum is now 1 year. I am sure there are memories from the military some cherish, I know a lot of people find it to be a ginormous waste of time, but regardless of that it’s not even a consideration for me given my other interests and commitments.
Can you tell us how to get citizen ship in bulgaria ? Thanks
Can help with the above - email us at immigration@offshorecapitalist.com
In Greece, I thought you can pay yourself dividends from a foreign company and pay only 5% tax? On top of that capital gains from selling stocks is at 0% tax?
You can get 5% tax on dividends after paying corporate tax and in some cases foreign withholding tax.
@@JimPastirmatzis thanks for your reply. To confirm, if I have an overseas company in say Hong Kong, I pay HK corporate tax, then there is zero tax on dividends in HK (no withholding), then just pay 5% in Greece? Any idea if solidarity tax is calculated on dividend income too? Thanks again
@@bamboozle999 can’t give you advice on financials and legal.
You’re best off consulting a professional in the space.
Check Offshore Citizen
Have you thought about Romania? Thanks
I've visited Bucharest a couple of times and I'm a big fan, but given taxes, I'd much rather move to Budapest if I were to choose. (I also like Budapest better)
@@JimPastirmatzis Hi Jim, Bucharest /Romania has also only 10% tax income , i think it could be a great option to consider with bulgaria
@@juliobarca that's personal income tax. Corporate is higher. Social security taxes are higher as well.
Personal income tax in Bulgaria can go lower than 10%. Typically 7.5%.
Corporate tax ln Romania is 3% and 1% lf you have an employee. Hard to get a better deal.
@@juliobarca 3% revenue not profit. For some businesses with low margins this means death.
The local authorities and regulations / extortion and corrupy government should also be taken into consideration. The taxes may be low , however 90% of foreign business left because of government bribes and irregularities
I acknowledge the corruption in my other video where I speak about the pros and cons of living in Bulgaria but definitely didn’t know or hear that 90% of foreign businesses left as a consequence.
Where did you get that intel from?
@@JimPastirmatzis this was official statistics from 2020 . Since then it hasn't got better. And majority of the foreign money coming from overseas into Bulgaria are from working immigrants who give back to their relatives just to keep them alive and pay bills. The standard of living for locals is horrible. Average salary of 500 euros per month , the lowest in EU and some of the highest costs for utilities.
Official statistics from where? Can you send me whatever literature you used to cite the above figures?
I can agree that standard of living is by no means the best for locals and it's why many young people flee the country in pursuit of a better career elsewhere with more potential. Something similar is happening in Greece as well, unfortunately.
@@JimPastirmatzis i seen it on the news bTV last year. I'm sure the article is out somewhere else too. Also here is stats from the most recent census.
От 7.3м на 6.5м души за 10г.
София от 1.2м на 1.5м души за 10г и 700хил жилища. Средна възраст 42г
@@user-xp8xg8yp2n yes, Bulgaria in general has a decreasing population but that doesn't tell me much about foreign businesses not pouring in due to favorable tax jurisdiction.
It's something I need to look into, the 90% figure was quite bold but if you say that's the case, I'll take your word for it for now, just need to look into it.
I'm glad to hear that you're doing quite well in Bulgaria setting up a business and payless tax onion field but it's quite easy to do but that's not quite true Bulgaria has been very discriminating towards the UK England and is using covic-19 and is using it for an excuse to prevent people travelling from the UK to Bulgaria for holidays or business Bulgaria visa for financially if it doesn't change what it politically doing incorrect now towards the UK because we are no longer in the EU but we still have very strong issues with the EU and guidance what is in the UK favour and also UK is no longer in the red zone and free travel is for everybody today access into the UK quite easily from the EU and set up businesses or just holidays lots of people from Bulgaria travel to the UK every day of the week quite easily and fly with Wizz Air travelling to the UK is quite easy for Bulgarian people
Please believe me when I say this, but we are actually trying to protect you from us, rather than the other way around. Bulgaria has the worst vaccine rate in the EU and the situation on the ground is abysmal. The tourism industry in particular has been hit really hard. Places which used to be tourism hotspots for hundreds of people, now barely have around 5-10 visitors per day. Lots of small businesses have filed for bancrupcy and things are not looking to get better anytime soon. This has nothing to do with your nationality, it's all to do with the current situation on the ground.
From February 1st you can enter Bulgaria with a simple negative PCR test (72 hrs) or even a rapid test. (48 hrs)
Just read it on the UK government website.
You can come in other words regardless of whether you have the jab or not at this stage and regardless of the category the UK is in.
Of course do your own due diligence before flying out and even call the embassy and confirm.
A lot of the travel restrictions at this stage are insane, not just here but around the world.
What’s your business?
I build all the marketing and sometimes sales infrastructure for startups and take them from low or non existent numbers to multi million dollar companies. Also an investor in other companies and startups. But my bread and butter is marketing.
@@JimPastirmatzis interesting and well done. It might be worth making a video on what you do.
@@chris1806 thank you! Maybe in the future.
Hello from Drama my friend, im an 18 years old teenager and i would like to see some videos about how to set up businesses and also quick question do u have any social media so i can ask you some questions?
Happy to shoot videos about how to set up businesses, though the question is kind of vague. What kind of businesses? Do you mean how to structure your corporation? Do you mean how to set up an ecommerce store/clothing business, or online marketing business? There are many types of businesses.
If you can be more specific, I'd be happy to look into this and consider what videos to create. Have you subbed so you can get notified for when I put them up?
As far as socials go, best way to reach me would either be via email jim@pastirmatzis.com or on Linkedin. I have the link on my channel, happy to talk with you.
@@JimPastirmatzis i ll get in touch with you soon😁