Very surprised to see Ireland on this list. I'm currently in Ireland as a tech contractor (i.e. self-employed) and researching my options. The main tax benefit of Ireland is the low corp tax rate of 12.5%, likely rising to 15%. Everything else is very high: Income tax is 40% on everything above €36,800. 20% below. The effective tax rate on income over €70,000 is around 50%. Capital gains tax is 33%. Dividends are taxed at your higher income tax rate i.e. 40%. If you invest in ETFs there is a 'deemed disposal' rule every 8 years where you'll have to pay tax on any unrealised gains. Cost of living is super high compared to many EU countries and there is a full blown housing crisis across the island making it impossible to find accomodation for a reasonable price. I love Ireland, a great place to live and visit but if you're researching for a tax friendly place to set up a 'base' there are better options IMO.
@@alexnezhynsky9707 You can eventually deduct whatever you pay for deemed disposal against your final gains/losses but in essences yes. Ireland is not a good place to be an individual 'retail' investor.
Thanks for the info as I was considering Ireland as my second choice in Europe as to Portugal. Looking at that tax rate between 40% to-50% from 36,800 to above 70,000 + cap gains of 33% could be steep when your just a LLC with around three employees just setting up your business there. Btw I like Ireland too but I''ll skip on the Black Pudding.
Here in Tirana, there is a one year 'remote worker visa' that allows an income tax exclusion to 135K USD and 15% thereafter. However, a remote worker couple at 270K USD per year, with a PPP of 2.54, has a stupidly high standard of living. I'm living in the very upscale neighborhood, Blloku. Very gracious lifestyle.
@@shillmybags7175 I spent 3 months in Albania, felt perfectly safe, masks mandated indoors and on public transport, but nobody bothered, was a breathe of fresh air, iliterally. Will go back there in 6 months, (if their government hasn't gone covid1984 mad), and apply for temp visa.
@@shillmybags7175 I suppose that, like nearly all cities, there are places to be avoided. I don't know them in Tirana. I hang out in Blloku, Stadium Village and downtown. All these place are absolutely safe.
Notice that France is never named because it's an absolute shit hole. They have more terror activity than any other Western country and the culture is extremely prejudicial to Americans.
What I care about most are places where people get left alone to work, play and generally get on with their lives without moronic infringements on liberty so Ireland is out for sure. Ideally low tax but after the past two years personal freedom now trump tax.
Hey Andrew, love the channel been watching for years. Granted I'm biased, but I own a Silver Nitrate Manufacturing company out of Blagoevgrad, Bulgaria. 10% flat tax, 5% dividend, cost me $60USD in paperwork and another $500USD in legal fees. Why no love for Bulgaria?
don't forget, Romania has the cheapest digital nomad worker visa, doesn't matter where you work if you get paid a minimum of 1100 eur/month, you are elligible for the 1 year visa. Georgia has a similar program, but you have to earn a min of about 2k eur
@@wolfgangwust5883 “Romania applies one of the lowest personal income taxes applicable at the level of the European Union (EU), of only 10%. However, it must be noted that certain categories of persons are exempted from the payment of this tax. ”
Are you sure the minimum paid has to be 1100 eur/month? I am reading some websites that claim is 3 times that amount, it means 3300 eur/month... Quite high for Romanian standards.
Hey, great content as always. I prefer Serbia, it is cheap and friendly. Also I love the sophisticated alternating eyebrow motion.. I tried to do it myself, but failed miserably.
@@alexnezhynsky9707 Wonderful people, crazy/corrupt government. Government workers are socialist robots. After dealing with them, you'll want to stay away.
Curious to hear about Moldova as well. Moldovan wines are second-to-none (well, maybe France and Napa Valley), it was the heart of the wine production in the USSR.
Really curious to find out more about Moldova's self-employeed / corporate taxes. I know they have so known "IT Park" where internet companies can register and pay 7% corp tax while employees are fully exempt from any taxes.
I have a 6 figure passive income from crypto and I'm looking to get my non-dom trifecta lifestyle sorted out asap. I'm currently in London, after this I go to Greece (just because I love Greece) and then I will look into my buying property options or just renting if its better. This was a really helpful video :)
Can you make a list of countries we can flee to that don't have the rona slavery pass, that's the real reason so many new viewers are watching your channel lately.
it had, the new super-majority government is changing the rules. If you value stable and clear laws, Romania is not the best country to go to. I think Georgia is still better. The UK also has a few "tricks" you can use to minimize your taxes besides the usual ones (non dom residency, 0 capital gains tax) that I never heard Andrew mention, and it def. better than Ireland/Portugal/Italy
@@in5minutes556 I just opened a company few months ago, and i currently have 1% income tax and 5% dividend tax. I think it's great tbh. I agree about the economical stability tho.
@@MrBodi1 lol, I’m talking about legislative stability, not economic stability. In the past you could pay 1% tax on revenue for up to 1 million euros and now they reduced it to 500k. There’s a chance this will be reduced even further. Also there are talks about increasing the dividend tax which is too low compared to the rest of Europe
It is really awesome how much extended is the idea that Europe includes Turkey. Wherever Turkey begins, Europe ends; this is how the concept of Europe was forged.
My husband and I are italians. He works remotely for a German company. He pays 60/ 70% tax.. For us italians it is a nightmare. We are planning to move to Portugal or Costa Rica next year.
What about Czech republic? For entrepreneurs they have a 60% income tax discount. Tax tables are only applied on the 40% of your income as far as I understand it.
Surprised the Baltic states aren't on the list, you have mentioned in previous videos they been pretty good towards those things and been working hard to attract them.
I am a mortgage Underwriter in the US with dual British citizenship and would love to move to work remotely somewhere in Eastern Europe. This is the last year of high school for my girls then I'm. Leaving. Been working on a plan for 3 years.
Considering the fact that freedom from restrictions and any kind of mandates is the most important aspect to me, it would be either UK or Sweden. Perhaps one of the Channel Islands.
Hi, please would you let us know, when you come across them, if there any places that are safe for the un-v...... thank you so much, it is becoming the top thing for me, but hard to find the info.
@@sevdev9844 Slovenia also has 0% tax for crypto. And if you're self employed there is an option (Normiranec s.p.) where you pay a monthly lump sum around €500 and a 4% income tax on top of that. So if you earn €50 000 a year your taxes would only be €8000 or 6,25%
But whats the point? How about I just move somewhere for like 2-3 months on a tourist visa and shut the hell up about my business? Why do I need to even bother with taxes in that country?
@@alexbloomberg4221 bro, you can just use your debit card. Just enable international transactions. The surcharge is only there for atm withdrawals. All other transactions aren't charged more(online/pos). This is true for all my cards in India
Happy new year Nomad Capitalist: Which Eastern European countries will be ideal for setting up a social media company when it comes to hiring and other logistics? Thank you
I can't speak for all but Serbia (if you like the place) is great if you are paid from another country. Only wire what you need as your incoming balances will be monitored by people not directly affiliated with the government.
My wife and I earn 70k canadian each. We are moving out at the end of the year. Would you consider foreign countries with tax treaty with our home base, or simply go where cost of living is lower. We will be able to keep our office jobs remotely
I think this guy changes his mind twice a day on what country to live in. Just pick a place and roll. You really going to pick up and flee every time a little change occurs?
What if you are just a dude who is tired of the US, and wants to move around the European continent and work remote for your US based company ? Just hop from one short term rental to another? Is there any tax consequences, other than the payroll taxes you would pay if you had just stayed home in the first place ?
From what I know you'd have to be 1099 not w4 w2 and each country has a certain amount of income requirement to stay there if you aren't a citizen, hope this bit of info helps
@@user-iu2kq7nx8u So far, when I go to Europe, I tell them I am just there to be a tourist. Actually, since I work at night because of the time zone difference, I actually AM a tourist during the day.
@@user-iu2kq7nx8u Data Engineering and Data Analytics. But know this, I still have an official residence in the US, I just travel to Europe for months at a time, then return. I still haven't sold and made a permanent leap out of the US yet.
Maybe, but you need to factor in the costs and opportunities for your particular circumstances. The issue is that this type of lifestyle has a certain bas cost, which means that it is most suitable for those who have a certain level of income or wealth. The first step is ideally to plan how to make your income stream(s) portable and, ideally, to not rely on conventional employers.
So I can be the king of Georgia or continue to put up with the nonsense and costs of the US. And people look at me crazy around here when I tell them the research I am doing to get out.
3 ปีที่แล้ว +1
Georgia is the best. 1 % income tax a very cheap and safe country.
I don't see a single positive comment about any country mentioned in the video. Maybe everyone should just grin and bear it where their permanent residence is and not move anywhere. If all of these countries are that bad from a taxation standpoint then it isn't worth the time and effort to pack your bags and shuffle of to some foreign country where you don't speak the local language and wind up totally unhappy and frustrated with new laws that seemingly take even more of your hard earned money.
I am beginning to think you are a CON MAN, dude; You talk a big game and we never seen any proof of anything. just wanted to tell you that your cover is now blown - get a new gig and stop grifting !
Hey nomad I love ya and am an employee Making 70 a year and am not ignorant just reformed. That said there is no where to hide on this planet Christ is the lord find him find real shelter
Looking forward to another 365 episodes of Nomad Capitalist
Agree. This channel is one of few channels that pumps daily videos of great content & controversy.
It seems like Bulgaria is lately becoming the favorite EU country for remote workers.
Very surprised to see Ireland on this list.
I'm currently in Ireland as a tech contractor (i.e. self-employed) and researching my options.
The main tax benefit of Ireland is the low corp tax rate of 12.5%, likely rising to 15%.
Everything else is very high:
Income tax is 40% on everything above €36,800. 20% below. The effective tax rate on income over €70,000 is around 50%.
Capital gains tax is 33%. Dividends are taxed at your higher income tax rate i.e. 40%. If you invest in ETFs there is a 'deemed disposal' rule every 8 years where you'll have to pay tax on any unrealised gains.
Cost of living is super high compared to many EU countries and there is a full blown housing crisis across the island making it impossible to find accomodation for a reasonable price.
I love Ireland, a great place to live and visit but if you're researching for a tax friendly place to set up a 'base' there are better options IMO.
Oh wow, so Ireland already has an unrealized capital gains tax
@@alexnezhynsky9707 You can eventually deduct whatever you pay for deemed disposal against your final gains/losses but in essences yes. Ireland is not a good place to be an individual 'retail' investor.
Thanks for the info as I was considering Ireland as my second choice in Europe as to Portugal. Looking at that tax rate between 40% to-50% from 36,800 to above 70,000 + cap gains of 33% could be steep when your just a LLC with around three employees just setting up your business there. Btw I like Ireland too but I''ll skip on the Black Pudding.
@@PatrickNoonan No country in the world likes self employed. They can't fully control us so they make life as hard as they can on us.
40% !!!!
Here in Tirana, there is a one year 'remote worker visa' that allows an income tax exclusion to 135K USD and 15% thereafter. However, a remote worker couple at 270K USD per year, with a PPP of 2.54, has a stupidly high standard of living. I'm living in the very upscale neighborhood, Blloku. Very gracious lifestyle.
Do you feel safe there ?
Tirana is in Albania. Just if anyone else wonders, and wants to google it. (I'm from Europe and had an A in geography, but still forgot. Lol.)
@@shillmybags7175 I spent 3 months in Albania, felt perfectly safe, masks mandated indoors and on public transport, but nobody bothered, was a breathe of fresh air, iliterally. Will go back there in 6 months, (if their government hasn't gone covid1984 mad), and apply for temp visa.
@@shillmybags7175 I suppose that, like nearly all cities, there are places to be avoided. I don't know them in Tirana. I hang out in Blloku, Stadium Village and downtown. All these place are absolutely safe.
Some of these countries are terrible choices now for anyone who values liberty and non discrimination.
Yeah, Ireland certainly is
Which would be your top options?
@@anpleidhceeireannach9498 Does this affect white people as well?
just forget about Hungary and Italy and you will be OK
Notice that France is never named because it's an absolute shit hole.
They have more terror activity than any other Western country and the culture is extremely prejudicial to Americans.
Your videos are always the best Andrew Henderson and your team
Happy New Year all!
Thanks for one more great video!
What I care about most are places where people get left alone to work, play and generally get on with their lives without moronic infringements on liberty so Ireland is out for sure. Ideally low tax but after the past two years personal freedom now trump tax.
Florida,Texas, México and that's about it
@@brendan1675 let's go Brandon
Hey Andrew, love the channel been watching for years. Granted I'm biased, but I own a Silver Nitrate Manufacturing company out of Blagoevgrad, Bulgaria. 10% flat tax, 5% dividend, cost me $60USD in paperwork and another $500USD in legal fees. Why no love for Bulgaria?
Sounds like a reasonable place.
It gets freezing cold. They would need to pay me to leave Hawaii.
What are income tax in bulgaria?
@@DamienYuen7718 🤩🤑
Live first a while in Bulgaria (People behavior, language, food, weather) and then decide - I didn’t like it at all personally 👎
don't forget, Romania has the cheapest digital nomad worker visa, doesn't matter where you work if you get paid a minimum of 1100 eur/month, you are elligible for the 1 year visa.
Georgia has a similar program, but you have to earn a min of about 2k eur
What about income tax in RO?
@@wolfgangwust5883
“Romania applies one of the lowest personal income taxes applicable at the level of the European Union (EU), of only 10%. However, it must be noted that certain categories of persons are exempted from the payment of this tax. ”
Are you sure the minimum paid has to be 1100 eur/month? I am reading some websites that claim is 3 times that amount, it means 3300 eur/month... Quite high for Romanian standards.
Ireland, Portugal, Italy, Hungary, Serbia, Turkey, and Moldova
Hey, great content as always. I prefer Serbia, it is cheap and friendly. Also I love the sophisticated alternating eyebrow motion.. I tried to do it myself, but failed miserably.
@@alexnezhynsky9707 Wonderful people, crazy/corrupt government. Government workers are socialist robots. After dealing with them, you'll want to stay away.
For many of these locations, especially for someone who is self employed, will the social security contributions ruin the low tax deal?
Curious to hear about Moldova as well. Moldovan wines are second-to-none (well, maybe France and Napa Valley), it was the heart of the wine production in the USSR.
I claim they have the best wineries in the world.
Tough competition in Georgia!
@@fireflyfarmletontheeno777 how u mean?
@@dankadesign7462 Georgian wines are the best in my opinion! 😀
@@fireflyfarmletontheeno777 tnxs..Hope will find any here in Australia.
Really curious to find out more about Moldova's self-employeed / corporate taxes. I know they have so known "IT Park" where internet companies can register and pay 7% corp tax while employees are fully exempt from any taxes.
Look up Romania! You can set up an LLC here and only pay 8% tax.
Great content, thanks for your time and efforts.
Bulgaria has flat rate income tax of 10% and Internet speeds are high.
I have a 6 figure passive income from crypto and I'm looking to get my non-dom trifecta lifestyle sorted out asap. I'm currently in London, after this I go to Greece (just because I love Greece) and then I will look into my buying property options or just renting if its better. This was a really helpful video :)
Can you make a list of countries we can flee to that don't have the rona slavery pass, that's the real reason so many new viewers are watching your channel lately.
Anti-Vaxxer? Watching too much conspiracy B.S?
Mexico, el Salvador and Costa rica are the only country that I found that doesn't require covid pass or wearing mask to enter
Dubai
@@ginorako2176 No, some people just want to be left alone
Romania has ridiculous low taxes if you start you own company.
it had, the new super-majority government is changing the rules. If you value stable and clear laws, Romania is not the best country to go to. I think Georgia is still better. The UK also has a few "tricks" you can use to minimize your taxes besides the usual ones (non dom residency, 0 capital gains tax) that I never heard Andrew mention, and it def. better than Ireland/Portugal/Italy
@@in5minutes556 I just opened a company few months ago, and i currently have 1% income tax and 5% dividend tax. I think it's great tbh. I agree about the economical stability tho.
@@MrBodi1 lol, I’m talking about legislative stability, not economic stability. In the past you could pay 1% tax on revenue for up to 1 million euros and now they reduced it to 500k. There’s a chance this will be reduced even further. Also there are talks about increasing the dividend tax which is too low compared to the rest of Europe
It is really awesome how much extended is the idea that Europe includes Turkey. Wherever Turkey begins, Europe ends; this is how the concept of Europe was forged.
That's not the point of the video. I'd say the Bosphorus splits Europe and Middle East. So Turkey is partially in Europe (geographically).
Learned a lot!
My husband and I are italians. He works remotely for a German company. He pays 60/ 70% tax..
For us italians it is a nightmare.
We are planning to move to Portugal or Costa Rica next year.
What about Czech republic? For entrepreneurs they have a 60% income tax discount. Tax tables are only applied on the 40% of your income as far as I understand it.
Crazy Covid rules. Other than that, seems like a doable country.
@@alexnezhynsky9707 Interesting. I will have a look. Is that the cut off of the gross amount?
Surprised the Baltic states aren't on the list, you have mentioned in previous videos they been pretty good towards those things and been working hard to attract them.
It's not only about bureaucracy, but taxes as well. Never heard those countries were cheap.
@@sevdev9844 Yeah the Baltic countries are terrible for taxes and bureaucracy, so I don't see a reason why they would be in this vidoe.
Where would you move to work remotely? Leave your comments below!
I am a mortgage Underwriter in the US with dual British citizenship and would love to move to work remotely somewhere in Eastern Europe. This is the last year of high school for my girls then I'm. Leaving. Been working on a plan for 3 years.
Italy
Considering the fact that freedom from restrictions and any kind of mandates is the most important aspect to me, it would be either UK or Sweden. Perhaps one of the Channel Islands.
@@cineffect Yes, Italy is pretty much a prison now
I would say a place with low costs of living and a less omnipresent government...somewhere like Vietnam or Mexico.
Hi, please would you let us know, when you come across them, if there any places that are safe for the un-v...... thank you so much, it is becoming the top thing for me, but hard to find the info.
In Poland i pay 5% of income tax in IT :) (ipbox tax deduction)
What about Slovenia ?
Had the same thought. I would simply look into the flat tax countries. Personally I prefer Portugal, because I'm speculating with crypto (0% tax).
@@sevdev9844 Slovenia also has 0% tax for crypto. And if you're self employed there is an option (Normiranec s.p.) where you pay a monthly lump sum around €500 and a 4% income tax on top of that. So if you earn €50 000 a year your taxes would only be €8000 or 6,25%
Also under 50 000 there is no VAT obligation
@@andreasc7427 Oh, wow, the crypto tax rule must be quite new then or it is underreported.
@@andreasc7427 and the women.....i am moving there
Could you please explain turkey tax advantages with further detail?
But whats the point? How about I just move somewhere for like 2-3 months on a tourist visa and shut the hell up about my business? Why do I need to even bother with taxes in that country?
How are you going to withdraw the money?
@@alexbloomberg4221 bro, you can just use your debit card. Just enable international transactions. The surcharge is only there for atm withdrawals. All other transactions aren't charged more(online/pos). This is true for all my cards in India
This is the classic 'Perpetual Traveller' approach. It can be done with the proper planning and proper income/wealth model.
What about Cyprus?
Happy new year Nomad Capitalist: Which Eastern European countries will be ideal for setting up a social media company when it comes to hiring and other logistics? Thank you
More on Italy please
Once Covid 19 has died down IRE and ITA may become more useful. Not sure about MD, what about RO and BG?
What about Georgia for investor's that are retired, but not from investing? Tax haven?
Serbia Vs. Bulgaria Vs. Albania vs Romania for Remote Worker?
I can't speak for all but Serbia (if you like the place) is great if you are paid from another country. Only wire what you need as your incoming balances will be monitored by people not directly affiliated with the government.
@@mgtowski395 What do you mean by "Wire what you need" ?
@@guillemsolersuetta5924 Send.
What are the tax rules of Hungary ? It was only a few seconds I was interested in actually knowing about remote working there
Does anyone if there are any tax implication for a company reg in uk with few employees working remote in Moldova for less then 150 days?
Could you do a video on living on and working from a boat. Thanks
I'm so confused by Georgia - how is it 0 - 1% tax when it's in fact 20% when you take a draw from the company? Does anyone know?
Italy is a tax hell
Didn't they want to create a flatrate?
@@sevdev9844 well, I'm Italian and our government changes idea every hour on everything.
Italians aren't known for organization (no offense to you).
@@mgtowski395 I totally agree, unfortunately 😞
My wife and I earn 70k canadian each. We are moving out at the end of the year. Would you consider foreign countries with tax treaty with our home base, or simply go where cost of living is lower.
We will be able to keep our office jobs remotely
I know people in Ireland. By all accounts the place has become unbearable due to covid restrictions. Even worse maybe than Australia.
I think this guy changes his mind twice a day on what country to live in. Just pick a place and roll. You really going to pick up and flee every time a little change occurs?
I’ve heard the Turkey $250k CBI has been canceled, and news on this?
And also what about Channel Islands and Isle-of-man?
What if you are just a dude who is tired of the US, and wants to move around the European continent and work remote for your US based company ? Just hop from one short term rental to another? Is there any tax consequences, other than the payroll taxes you would pay if you had just stayed home in the first place ?
From what I know you'd have to be 1099 not w4 w2 and each country has a certain amount of income requirement to stay there if you aren't a citizen, hope this bit of info helps
@@user-iu2kq7nx8u So far, when I go to Europe, I tell them I am just there to be a tourist. Actually, since I work at night because of the time zone difference, I actually AM a tourist during the day.
@@sirgalahad1470 what field are you working in? I haven't had any luck with finding any remote work while overseas, everyone needs to send equipment 🙄
@@user-iu2kq7nx8u Data Engineering and Data Analytics. But know this, I still have an official residence in the US, I just travel to Europe for months at a time, then return. I still haven't sold and made a permanent leap out of the US yet.
No mention of Bulgaria with 10 percent corporate tax and income tax. And it’s an EU country. What is the reason?
Would this work for people who ARENT 7 and 8 figure entrepreneurs?
Maybe, but you need to factor in the costs and opportunities for your particular circumstances.
The issue is that this type of lifestyle has a certain bas cost, which means that it is most suitable for those who have a certain level of income or wealth.
The first step is ideally to plan how to make your income stream(s) portable and, ideally, to not rely on conventional employers.
Hi Andrew, as per your site you don’t have remote working opportunities, isn’t it?
So I can be the king of Georgia or continue to put up with the nonsense and costs of the US. And people look at me crazy around here when I tell them the research I am doing to get out.
Georgia is the best. 1 % income tax a very cheap and safe country.
Italy - very very expensive country for living - needs to be considered as well - don’t look only on taxes
But most Europian countries are cold and expensive
Dubai recently introduced a freelance and remote work visa. Honestly a great place with almost no crime. Very expensive property prices though
I don't see a single positive comment about any country mentioned in the video. Maybe everyone should just grin and bear it where their permanent residence is and not move anywhere. If all of these countries are that bad from a taxation standpoint then it isn't worth the time and effort to pack your bags and shuffle of to some foreign country where you don't speak the local language and wind up totally unhappy and frustrated with new laws that seemingly take even more of your hard earned money.
Now it is just normies in remote... boring
🤓🤳
I am beginning to think you are a CON MAN, dude; You talk a big game and we never seen any proof of anything. just wanted to tell you that your cover is now blown - get a new gig and stop grifting !
Hey nomad I love ya and am an employee Making 70 a year and am not ignorant just reformed. That said there is no where to hide on this planet Christ is the lord find him find real shelter
What about Cyprus?