Just found out France doesn't tax pensions, Social Security or 401K/403B income. Um, hello Montpellier, Toulouse. Obviously more research is needed. Both my wife and I have family in France.
Ola basement studio, Thanks for sharing. We have a France video coming soon. France has one of the best tax treaty programs of any European country with the USA. It is definitely worth taking a look at all the pros and cons while doing your research. Have a wonderful day Alan
Yes I’ve been researching France also. Not as safe as portugal. Also you have a limited time to sell US property. At a certain point if you still own global property it will be considered as if it is in France and subject to high capital gains /wealth tax-up to 50% when sold. If anyone knows more, let me kno. Looking at Panama and Ecuador also. Panama does not tax global income/social security
@@amarie3309 no and why the hell would you even tell french authorities you have a house elsewhere ? That's bs...you're nlt a citizen either , you have nothing to fear...if your pension is good stay in the US it's the best country with great nature...ans Costco 😍❤️
Visited Crete in fhe 90s and loved it. Food, culture, weather and beaches are all gtop notch. I will be going back but not sure if I want to retire there. Might get a little island fever. I look forward to your up coming videos on Crete.
Thanks for the video! I currently live in the United states. If one were to do an exploratory trip to Crete to live more like a loca for one to two months, do you have a recommendation on where to look as far as a short-term furnished apartment? I know sites like airbnbs but what are the alternative ways of searching? How do you determine if they're legit? Should one sign a lease before actually arriving or find some temporary accommodations while you look? Answers to these questions would be helpful for me and perhaps others on the channel.
Ola Johnathan Thanks for being here. It sounds like you are planning a wonderful adventure! On a short lease we would recommend that you use one of the large reputable companies. They offer some basic protections to ensure the property is legit. And will help if there is a problem. Since you are planning two months youay want to book a month in one area and then a month in another. This way you will spend time learning multiple locations. Hope this helps. Have a wonderful day Alan
Low-income retirees in the US pay no (or very, very little) federal income tax. Even those who are not considered low income can often find ways to minimize their income tax liabilities and pay only 15 - 20% (or less). The issue is finding a low cost place to live in the US that is at least a moderately interesting place with at least moderately interesting people - that is hard to do! The answer might be owning or renting a small place in one of these low-cost areas and living there 6 months a year and owning or renting a small place in a low-cost European country and living there 6 months a year - but you have to leave after 3 months and return 3 months later - so you have to pay for two round-trip flights a year. Better yet, find someone who wants to do the same thing and have them living at your place in the US while you are in Europe and vice-a-versa. That way you are essentially paying for only one place. A service that matches people up and helps them decide whether to rent or buy and where could potentially be a good side business venture.
Many thanks Alan for this video. Now you made me to search in Greece as well:) as you know we still havent found our place in the sun. All the best and enjoy your journey guys:)
Ola felizpete We are glad you are here. Thanks for your support. Don't forget to add Frabce to your list. I mean while you are at it. Have a wonderful day Alan
Nice! Excellent! Move to Greece (Move to live there !!! Not just to spent some time there during a nice period of vaccations !!! ).......and you will end up to find out what the future holds for you !! Good luck!!
I think you will find the best houses with property in Croatia in the area of Istria, the coast, Dalmatia or the islands. People are friendly, most young people know english, prices are low. And most importantly, security is much higher than in Portugal or Greece. Welcome to Croatia.🏖️
Good for you buddy, keeping your eyes open. Lots of people are so blind by Portugal, you have many options that you can choose to move to that will shower you with benefits.
I'm moving to Portugal because of lots of other great things about the country and its benefits. Many people will reconsider moving now because of tax issue. My view is, why shouldn't we pay taxes, the Portuguese do, why are we so special. Unfortunately TH-camrs now will see this is an issue. There are so many other reasons to move there. If you don't want to move because now of the possible NHR rule, great, stay home. Unfortunately TH-camrs have been plugging moving to Portugal for several years now saying oh wow what a great country to live and then when changes happen and house prices go up they are the first ones to moan about it. Don't get me wrong, absolutely love you guys but, youtubers posts like these only contribute to this issue. We are moving from the US in the next few months. We already have a house and probably won't make the deadline for the NHR, but so many more benefits to experience. Certainly better off there. Thanks
👏👏👏👏 Can't agree more. I have no problem paying my fair share of tax in Portugal. Why shouldn't I? I'm moving to Portugal from Chinada in early 2024. And I can't wait!
I love Portugal and just got back from visiting the North (Guimaraes and Porto), Cascais and Madeira. While I don't mind paying taxes to receive the benefits a country offers, finances have to be a consideration when making plans. Can I afford to pay taxes of up to 48% of my income or is it more feasible to consider other options that offer a lower tax rate? I really appreciate you doing these videos.
Retirees have to consider the change given that Portugal taxes pensions and may not have clear distinctions related to an actual pension that a US expat might receive and did not contribute a part of their income to, and a 401k that is actually savings with a potential capital gain. A Tax lawyer may have to justify what portion of a retirees savings is capital gain and taxable. If the entirety, no one could manage it.
Ola Gary, Thanks for watching and supporting our channel. The taxes will effect each person differently. It is best to work with your tax attorney to understand how they will effect you. Have a wonderful day Alan
Very timely content. I am a firm believer in "geographic arbitrage" - find a place to live where your $$$ go further. If you can retire sooner and keep more of what you earn why wouldn't you? Coming from the United States, we have only been able to experience Europe in 2 to 3 week chunks of time. I'm all for finding an affordable base that allows you to travel and explore before committing to a single country & it's tax system. Then, as you said, crunch the numbers and see if it works for your situation. Billionaires pay 0 - 0.5% taxes on their wealth - no shame in legal tax avoidance and finding ways to decrease your cost of living.
I do like your video contents, only one thing I’m not agree with your opinion is about the tax you are paying in our country/island I’m a Maderian and have to pay why others avoid in paying? Just a question noting personal !!
Ola Stroopi, Just so you know we don't all qualify for the NHR. And depending on whether we bring a business with us and how our savings is invested we may pay tax just like you. We are speaking so that people interested in potentially moving and building a life in Portugal run all the numbers. It is important that when someone sells everything they own and spends thousands of dollars to move, that they do not discover they didn't understand their personal tax obligations and a couple years down the road find out they can't afford to stay. Each person's income comes from different sources and is therefore taxed differently. When moving from a new country it is important that you work with a qualified tax attorney in that new country (as well as in your home country) to have your income reviewed for tax purposes. I hope this helps. Have a wonderful day and thanks for watching.
Something that needs to be considered is, If you work, save and invest for decades in one money pool(say the USA) and then pick up your entire life and move it into another economy(say Portugal) and spend all or most of that capital without having taken from that economy then that's a major boost. It's a smart move for governments to have incentives to promote it, including favorable tax programs. It's not unfair as most folks think, just not explained very well. Trust me, the USA doesn't want people to earn there, and then take all of it and spend it elsewhere
Bom dia! We are glad you are here! Please like, subscribe and share. You can also support our videos by joining us on patreon at www.patreon.com/itllbefun or sign up for our free It'll Be Fun newsletter at www.itllbefunretirement.com. Have a wonderful day!
Retirees have to consider the change given that Portugal taxes pensions and may not have clear distinctions related to an actual pension that a US expat might receive and did not contribute a part of their income to, and a 401k that is actually savings with a potential capital gain. A Tax lawyer may have to justify what portion of a retirees savings is capital gain and taxable. If the entirety, no one could manage it.
I'm really disappointed about the discontinuation of the NHR in Portugal. I've thought about Greece but it gets really cold there in the winter and the healthcare does not rank as high as Portugal.
I'm moving to Crete on an EU passport so no visa issues for me, but I just want to let you guys know that there are plenty of daily flights to major destinations in mainland Europe from Heraklion airport, even off season. I could have easily chosen Portugal, but the Atlantic Ocean's water is very cold throughout the whole year and real-estate in the Algarve region has become prohibitively expensive, at least for me.
Ola Rosalind Nice to hear from you. Yes. Taxes are.taxes.and must be.paud regardless of where we live. It is wise to review them early (like you are) while you are putting together your research pros and cons. Have a wonderful day Alan
Luv your channel....curious what changes have happened, basically, how much more expensive it is now to pay taxes in Portugal? I am choosing between Spain/Portugal...
Ola Mark, The NHR program is coming to an end. It provided reduced taxes, if you qualified. So now it will be very important that you contact a Portuguese tax attorney (ours is on our vendor list in patreon if you are looking for one). Everyone's income is different and some people will be greatly effected potentially another 10 to 20% and others not much at all. Thanks for watching and supporting our channel. Have a wonderful day Alan, Leslie and Wolf
The deck looks stacked against Portugal for retirees, but I'm hoping there will be light at the end of the tunnel when the NHR dust settles. It might take a couple years, before it's affordable for retirees in Portugal again, but we're planning on Heaven or Portugal. Whichever comes first. 😂
The Portuguese D7 Visa requires a passive income of only €760 per month whereas Greece's D Visa requires a passive income on €2000 and so not similar at all.
Ola suchisthismystery, Thanks for sharing. Keep inmind that you can't really live on 760 so the 2000 reqirement is more realistic. Also there is a huge tax difference. Otherwise you will need to provide all the same type of documents in order to apply. Have a wonderful day
@@ItllBeFun Considering that the UK state pension is only €1000 per month, neither option is viable for me unfortunately. But hey! As one could possibly live (simply) in Portugal on a passive income of around €1300/1400 per month, Portugal would appear to be a more viable option than Greece for those of limited financial means that is.
Ola suchisthemystery, True. You can qualify for the Visa with less income. And as long as the NHR tax program is available you could still afford to live cost effectively.
I dont understand why you guys wasted a years rent while property prices were going up? And to compound things are you not already on the NHR? If not why not? Have you much experience of Greece? You do realise how many years you will have to live there before you can get citizenship? Good luck with passing the difficult language test that will be mandatory. And then there is the laid back culture, the extreme summer heat, and the bankrupt government. You had better have private health care. I’d stick with Madeira any day.
Thanks for watching and supporting our channel. Took our time to find the right place for us. Yes, in the NHR program. The heat in Summer would be a problem. Obrigado, Alan, Leslie and Wolf
I found maximum 50% saving move abroad, but the living quality is not attractive, Mostly only 30% saving, NOT worth moving abroad. maybe I should retire in Vegas?
Greece is always the best ive always felt home there i never felt a connection with my own country (Netherlands) i was conceived in greece long story haha… my parents did something on a beach years ago.. i even have a greek name : Arion from the greek legend Arion and the Dolphin 250-500k is alot of money tho, im lucky im an european so i only need a residence permit for greece, and if your income is from abroad and send some of that over they will only tax you on 50 percent of that income for 7 years so they dont look at the full salary but only 50 percent so if i keep it low lets say 20k a year they will only tax me on 10k for around 22 percent which isnt that bad because cost of living is not high i wouod easily be able to live on that amount.. thats the plan for the future
Hi Arion, Thanks for sharing this info. Could you share what % tax it would be after 7 years and what tax it would be on income generated within Greece say from Trading/Investing income? Thank you in advance.
@@salharve5473 thank you for the reply very interesting im in the same boat as you im a day trader next year il start working with propfirms to finanally change my life and make it worth my time without risking my savings, greece has tax brackets im not a financial advisor im still new with this myself and i will double check with an international tax advisor when i put this all in place but 22 percent tax on till 20k but they will probably only look at half of that, and 29 percent from 20.001k till 30k 37 percent on 30.001 till 40k etc the max tax rate is 45 percent it seems from 40.001 and above so to sum it up on 20k you probably only pay 2200 euros of income tax
@@mysterioanonymous3206 ofcourse there will be taxes 🤣🤣 tax evasion is illigal be very careful.. but tax avoidance is legal.. you pay taxes but try to structure it in a more benificial way for yourself (legally)
Ola! It would be fun to be a millionaire! And yes your choices in life will be much larger. Thanks for watching and supporting our channel. Have a wonderful day Alan, Leslie and Wolf
I do like your video contents, only one thing I’m not agree with your opinion is about the tax you are paying in our country/island I’m a Maderian and have to pay why others avoid in paying? Just a question noting personal !!
Just found out France doesn't tax pensions, Social Security or 401K/403B income. Um, hello Montpellier, Toulouse. Obviously more research is needed. Both my wife and I have family in France.
Ola basement studio,
Thanks for sharing. We have a France video coming soon. France has one of the best tax treaty programs of any European country with the USA. It is definitely worth taking a look at all the pros and cons while doing your research.
Have a wonderful day
Alan
@@ItllBeFun Can't wait to see it
Yes I’ve been researching France also. Not as safe as portugal. Also you have a limited time to sell US property. At a certain point if you still own global property it will be considered as if it is in France and subject to high capital gains /wealth tax-up to 50% when sold. If anyone knows more, let me kno. Looking at Panama and Ecuador also. Panama does not tax global income/social security
@@amarie3309 no and why the hell would you even tell french authorities you have a house elsewhere ? That's bs...you're nlt a citizen either , you have nothing to fear...if your pension is good stay in the US it's the best country with great nature...ans Costco 😍❤️
@@Bambotb I won’t tell them but the IRS would
Visited Crete in fhe 90s and loved it. Food, culture, weather and beaches are all gtop notch. I will be going back but not sure if I want to retire there. Might get a little island fever. I look forward to your up coming videos on Crete.
Thanks for watching and supporting our channel. The food was awesome.
Alan, Leslie and Wolf
Thanks for the video! I currently live in the United states. If one were to do an exploratory trip to Crete to live more like a loca for one to two months, do you have a recommendation on where to look as far as a short-term furnished apartment? I know sites like airbnbs but what are the alternative ways of searching? How do you determine if they're legit? Should one sign a lease before actually arriving or find some temporary accommodations while you look? Answers to these questions would be helpful for me and perhaps others on the channel.
Ola Johnathan
Thanks for being here. It sounds like you are planning a wonderful adventure! On a short lease we would recommend that you use one of the large reputable companies. They offer some basic protections to ensure the property is legit. And will help if there is a problem. Since you are planning two months youay want to book a month in one area and then a month in another. This way you will spend time learning multiple locations.
Hope this helps.
Have a wonderful day
Alan
Low-income retirees in the US pay no (or very, very little) federal income tax. Even those who are not considered low income can often find ways to minimize their income tax liabilities and pay only 15 - 20% (or less). The issue is finding a low cost place to live in the US that is at least a moderately interesting place with at least moderately interesting people - that is hard to do! The answer might be owning or renting a small place in one of these low-cost areas and living there 6 months a year and owning or renting a small place in a low-cost European country and living there 6 months a year - but you have to leave after 3 months and return 3 months later - so you have to pay for two round-trip flights a year. Better yet, find someone who wants to do the same thing and have them living at your place in the US while you are in Europe and vice-a-versa. That way you are essentially paying for only one place. A service that matches people up and helps them decide whether to rent or buy and where could potentially be a good side business venture.
Ola Ht
Great plan!!!!
Thanks for sharing.
Have a wonderful day
Alan
Many thanks Alan for this video. Now you made me to search in Greece as well:) as you know we still havent found our place in the sun. All the best and enjoy your journey guys:)
Ola felizpete
We are glad you are here. Thanks for your support.
Don't forget to add Frabce to your list. I mean while you are at it.
Have a wonderful day
Alan
Nice! Excellent! Move to Greece (Move to live there !!! Not just to spent some time there during a nice period of vaccations !!! ).......and you will end up to find out what the future holds for you !! Good luck!!
Thanks for watching and supporting our channel.
Alan, Leslie and Wolf
Nice video. Enjoy your holidays
Thanks for the continued support, Rui!
Happy holidays to you too.
Alan, Leslie and Wolf
I think you will find the best houses with property in Croatia in the area of Istria, the coast, Dalmatia or the islands. People are friendly, most young people know english, prices are low. And most importantly, security is much higher than in Portugal or Greece.
Welcome to Croatia.🏖️
Thanks for watching and supporting our channel. And for sharing your thoughts.
Alan, Leslie and Wolf
Can you please do a video on comparing the Greece flat tax option vs. Financially Independent Persons visa vs. D Visa? Thanks!
Absolutely
Greece is the place for us! From Phoenix Arizona to Greece we go!!!! Thanks for the video
Ola! Fantastic! When are you going?
@@ItllBeFun June of 2025 for a visit then 2030 to retire!
Youre videos have been very helpful by the way so thank you very much!
Thank you! Come join us on Patreon. Www.patreon.com/itllbefun
Good for you buddy, keeping your eyes open. Lots of people are so blind by Portugal, you have many options that you can choose to move to that will shower you with benefits.
Thanks for watching and supporting our channel. Good to have options.
Alan,Leslie and Wolf
I'm moving to Portugal because of lots of other great things about the country and its benefits. Many people will reconsider moving now because of tax issue.
My view is, why shouldn't we pay taxes, the Portuguese do, why are we so special. Unfortunately TH-camrs now will see this is an issue.
There are so many other reasons to move there. If you don't want to move because now of the possible NHR rule, great, stay home.
Unfortunately TH-camrs have been plugging moving to Portugal for several years now saying oh wow what a great country to live and then when changes happen and house prices go up they are the first ones to moan about it. Don't get me wrong, absolutely love you guys but, youtubers posts like these only contribute to this issue.
We are moving from the US in the next few months. We already have a house and probably won't make the deadline for the NHR, but so many more benefits to experience.
Certainly better off there.
Thanks
thanks for your good words you are welcome to portugal or anywhere if you respect the country rules
👏👏👏👏 Can't agree more. I have no problem paying my fair share of tax in Portugal. Why shouldn't I? I'm moving to Portugal from Chinada in early 2024. And I can't wait!
I love Portugal and just got back from visiting the North (Guimaraes and Porto), Cascais and Madeira. While I don't mind paying taxes to receive the benefits a country offers, finances have to be a consideration when making plans. Can I afford to pay taxes of up to 48% of my income or is it more feasible to consider other options that offer a lower tax rate?
I really appreciate you doing these videos.
Retirees have to consider the change given that Portugal taxes pensions and may not have clear distinctions related to an actual pension that a US expat might receive and did not contribute a part of their income to, and a 401k that is actually savings with a potential capital gain. A Tax lawyer may have to justify what portion of a retirees savings is capital gain and taxable. If the entirety, no one could manage it.
Ola Gary,
Thanks for watching and supporting our channel.
The taxes will effect each person differently. It is best to work with your tax attorney to understand how they will effect you.
Have a wonderful day
Alan
Thanks for the info. You say €2,000 pm in Greece. Is that per person or for a couple?
Ola!
Per person.
Very timely content. I am a firm believer in "geographic arbitrage" - find a place to live where your $$$ go further. If you can retire sooner and keep more of what you earn why wouldn't you? Coming from the United States, we have only been able to experience Europe in 2 to 3 week chunks of time. I'm all for finding an affordable base that allows you to travel and explore before committing to a single country & it's tax system. Then, as you said, crunch the numbers and see if it works for your situation. Billionaires pay 0 - 0.5% taxes on their wealth - no shame in legal tax avoidance and finding ways to decrease your cost of living.
Ola Kathy,
Well said. Thanks for sharing and for supporting our channel.
Have a wonderful day
Alan, Leslie and Wolf
I do like your video contents, only one thing I’m not agree with your opinion is about the tax you are paying in our country/island I’m a Maderian and have to pay why others avoid in paying? Just a question noting personal !!
Ola Stroopi,
Just so you know we don't all qualify for the NHR. And depending on whether we bring a business with us and how our savings is invested we may pay tax just like you.
We are speaking so that people interested in potentially moving and building a life in Portugal run all the numbers. It is important that when someone sells everything they own and spends thousands of dollars to move, that they do not discover they didn't understand their personal tax obligations and a couple years down the road find out they can't afford to stay. Each person's income comes from different sources and is therefore taxed differently. When moving from a new country it is important that you work with a qualified tax attorney in that new country (as well as in your home country) to have your income reviewed for tax purposes.
I hope this helps.
Have a wonderful day and thanks for watching.
@@ItllBeFunthanks for your explanation and have a great day.
@@ItllBeFunvery well said Alan!
Something that needs to be considered is, If you work, save and invest for decades in one money pool(say the USA) and then pick up your entire life and move it into another economy(say Portugal) and spend all or most of that capital without having taken from that economy then that's a major boost. It's a smart move for governments to have incentives to promote it, including favorable tax programs. It's not unfair as most folks think, just not explained very well. Trust me, the USA doesn't want people to earn there, and then take all of it and spend it elsewhere
Well said.
Bom dia! We are glad you are here! Please like, subscribe and share. You can also support our videos by joining us on patreon at www.patreon.com/itllbefun or sign up for our free It'll Be Fun newsletter at www.itllbefunretirement.com. Have a wonderful day!
Retirees have to consider the change given that Portugal taxes pensions and may not have clear distinctions related to an actual pension that a US expat might receive and did not contribute a part of their income to, and a 401k that is actually savings with a potential capital gain. A Tax lawyer may have to justify what portion of a retirees savings is capital gain and taxable. If the entirety, no one could manage it.
Thanks for watching and supporting our channel. And for sharing your thoughts and information. We appreciate it.
Alan, Leslie and Wolf
I'm really disappointed about the discontinuation of the NHR in Portugal. I've thought about Greece but it gets really cold there in the winter and the healthcare does not rank as high as Portugal.
Thanks for watching and supporting our channel. You have some good points.
Alan,Leslie and Wolf
Have you been in Portugal in the winter?
It actually gets cold in Greece? Like what 10 degree Celsius?
The economy is a mess
@@FilipeSilva1 He's likely talking about the Algarve and generalizing the climate in the region to all of Portugal.
I'm moving to Crete on an EU passport so no visa issues for me, but I just want to let you guys know that there are plenty of daily flights to major destinations in mainland Europe from Heraklion airport, even off season. I could have easily chosen Portugal, but the Atlantic Ocean's water is very cold throughout the whole year and real-estate in the Algarve region has become prohibitively expensive, at least for me.
Thanks for watching and supporting our channel. You bring up some excellent points. Good luck on your journey.
Alan, Leslie and Wolf
Portugal, Croatia , Greece, Italy and Mexico is on my list. At this point taxescwill be high anywhere. It's just a matter of what you want to pay.
Ola Rosalind
Nice to hear from you. Yes. Taxes are.taxes.and must be.paud regardless of where we live. It is wise to review them early (like you are) while you are putting together your research pros and cons.
Have a wonderful day
Alan
So been a while since I checked with you guys.
I have a nitpick, it's " Shen-Gen", not "Shin-Gin"
Yep. It is. Have a wonderful day!
I honestly didn't know what he was talking about, glad you pointed it out
Luv your channel....curious what changes have happened, basically, how much more expensive it is now to pay taxes in Portugal? I am choosing between Spain/Portugal...
Ola Mark,
The NHR program is coming to an end. It provided reduced taxes, if you qualified. So now it will be very important that you contact a Portuguese tax attorney (ours is on our vendor list in patreon if you are looking for one). Everyone's income is different and some people will be greatly effected potentially another 10 to 20% and others not much at all.
Thanks for watching and supporting our channel.
Have a wonderful day
Alan, Leslie and Wolf
The deck looks stacked against Portugal for retirees, but I'm hoping there will be light at the end of the tunnel when the NHR dust settles. It might take a couple years, before it's affordable for retirees in Portugal again, but we're planning on Heaven or Portugal. Whichever comes first. 😂
Ola Chris,
It may actually work out just fine even now. It just depends on how your money is set up.
Nice to hear from you.
Alan.
GREAT Crete video!!!!! BEAUTIFUL!
The Portuguese D7 Visa requires a passive income of only €760 per month whereas Greece's D Visa requires a passive income on €2000 and so not similar at all.
Ola suchisthismystery,
Thanks for sharing. Keep inmind that you can't really live on 760 so the 2000 reqirement is more realistic. Also there is a huge tax difference. Otherwise you will need to provide all the same type of documents in order to apply.
Have a wonderful day
@@ItllBeFun Considering that the UK state pension is only €1000 per month, neither option is viable for me unfortunately. But hey!
As one could possibly live (simply) in Portugal on a passive income of around €1300/1400 per month, Portugal would appear to be a more viable option than Greece for those of limited financial means that is.
Ola suchisthemystery,
True. You can qualify for the Visa with less income. And as long as the NHR tax program is available you could still afford to live cost effectively.
I dont understand why you guys wasted a years rent while property prices were going up?
And to compound things are you not already on the NHR? If not why not?
Have you much experience of Greece? You do realise how many years you will have to live there before you can get citizenship? Good luck with passing the difficult language test that will be mandatory.
And then there is the laid back culture, the extreme summer heat, and the bankrupt government. You had better have private health care.
I’d stick with Madeira any day.
Thanks for watching and supporting our channel. Took our time to find the right place for us. Yes, in the NHR program. The heat in Summer would be a problem.
Obrigado, Alan, Leslie and Wolf
and Cyprus? English widely spoken too.
Thanks for watching and supporting our channel. We appreciate it.
I found maximum 50% saving move abroad, but the living quality is not attractive,
Mostly only 30% saving, NOT worth moving abroad.
maybe I should retire in Vegas?
Maybe you should. This journey is not for everyone.
Thanks for watching
Greece is always the best ive always felt home there i never felt a connection with my own country (Netherlands) i was conceived in greece long story haha… my parents did something on a beach years ago.. i even have a greek name : Arion from the greek legend Arion and the Dolphin 250-500k is alot of money tho, im lucky im an european so i only need a residence permit for greece, and if your income is from abroad and send some of that over they will only tax you on 50 percent of that income for 7 years so they dont look at the full salary but only 50 percent so if i keep it low lets say 20k a year they will only tax me on 10k for around 22 percent which isnt that bad because cost of living is not high i wouod easily be able to live on that amount.. thats the plan for the future
Hi Arion, Thanks for sharing this info. Could you share what % tax it would be after 7 years and what tax it would be on income generated within Greece say from Trading/Investing income? Thank you in advance.
@@salharve5473 thank you for the reply very interesting im in the same boat as you im a day trader next year il start working with propfirms to finanally change my life and make it worth my time without risking my savings, greece has tax brackets im not a financial advisor im still new with this myself and i will double check with an international tax advisor when i put this all in place but 22 percent tax on till 20k but they will probably only look at half of that, and 29 percent from 20.001k till 30k 37 percent on 30.001 till 40k etc the max tax rate is 45 percent it seems from 40.001 and above so to sum it up on 20k you probably only pay 2200 euros of income tax
@@salharve5473 and after 7 years i expect you to be taxed just like any greek person like on the full amount
@@Ari-vc2dttaxed like any Greek person yeah? Well then there's no taxes I guess 😅
@@mysterioanonymous3206 ofcourse there will be taxes 🤣🤣 tax evasion is illigal be very careful.. but tax avoidance is legal.. you pay taxes but try to structure it in a more benificial way for yourself (legally)
Try Morocco they don't go after your money and is n1 in Africa
Thanks for watching and supporting our channel. Obrigado
Alan, Leslie and Wolf
If you are a millionaire you could live anywhere in Europe. Many millionaires in both Portugal and Greece.
Ola! It would be fun to be a millionaire! And yes your choices in life will be much larger. Thanks for watching and supporting our channel.
Have a wonderful day
Alan, Leslie and Wolf
Foreign retirees can benefit from the preferential Greek tax regime for a duration of 15 years
That's agreat incentive for sure. Thanks for watching and supporting our channel.
Alan
I do like your video contents, only one thing I’m not agree with your opinion is about the tax you are paying in our country/island I’m a Maderian and have to pay why others avoid in paying? Just a question noting personal !!