These Countries Will Prevent Rich From Leaving

Рет қаралды 20,917

Жыл бұрын

What if your country was to prevent you from ever leaving? What if you can't move abroad, get a second residency or citizenship somewhere else? Could this dystopian reality be on the horizon?
☎️ Book a call with Michael:
calendly.com/michael-rosmer?m...
Today, unlike in any other time in history the place where we live has little to nothing to do with our ability to make money! As digitalization takes over the world, more and more jobs are becoming remote. Meaning that you don't need to live in any particular place, which again means that you don't have to be in high tax countries.
If your income doesn't depend on your country, why would you pay high taxes when you can work from anywhere in the world?
It is estimated that by 2035 there will be a billion digital nomads - location independent workers!
This will mean less tax revenue for those countries that produce a lot of location independent workers. What if countries decide to put a halt to it and prevent those people from leaving?
As the old saying goes ''ounce of prevention is worth a pound of cure''. This scenario may become likely at one point in time, and when (or if) that happens you will have no choice but to comply.
Second residency or citizenship will no longer be viable options.
So what should we do to prepare ourselves for the worst? Get a second citizenship/passport and second or multiple residencies while we can!
This can be a good plan b, an option if your original country's government decides to implement some draconian measures.
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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.
At Offshore Citizen we understand that each individual's situation is unique. Unlike most industry service providers, we do not push any particular country or solution. Instead, we analyze your individual situation and custom-tailor the best countries and strategies for you, drawing on every part of the globe.
With Offshore Citizen, you can rest assured that you are in the hands of professionals who have your best interests at heart. Let us guide you through the complex world of international tax planning, immigration, residency, and second citizenship.
Contact Michael today for a personalized consultation and take the first step towards securing your financial future.
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Get personalized advice about tax, asset protection, offshore banking, residency, and citizenships.
☎️ Book a call with Michael:
calendly.com/michael-rosmer?m...
🌎 Visit our website:
offshorecitizen.net

Пікірлер: 222

@josh3771 Жыл бұрын

Honestly it's getting to the point in Australia where never going back is an acceptable and the easiest solution

@Hangover-ry9bo Жыл бұрын

100% correct,... have done this with Germany. It's now very similar here to Germany in the mid 90s to early 2000ds. Decluttering the life and finding a landing elsewhere is not something to put off. The 1900 and 1930 in Germany was like that. You got to pack before its in the news that the state is after your kind. In Germany I even had to register with the authorities. Otherwise I might be liable for the cost of receiving an inheritance with huge tax implication when my parents leave me the familie house. Im no longer invested in Australia and what my new home once offered has been taken since 2012.

@searlearnold2867 Жыл бұрын

When apartheid was instituted in South Africa in 1948, it took my father 20 years to position our family to sneak out and emigrate, while leaving all of the family wealth behind and figure out how to extract it later. Now, we have the heads up of what western governments are doing and how they force other countries to follow. Better to leave in advance, than get stuck.

@CommoditySC Жыл бұрын

Better 2 years too early than a minute too late.

@xxChacaronXX Жыл бұрын

What are the safest Countries to live in?

@ursdreyer3122 Жыл бұрын

@@xxChacaronXX Switzerland

@Hangover-ry9bo Жыл бұрын

@@xxChacaronXX Who ever answers this, will be flooded by immigrants, with baggage! Then the immigrants bring their baggage and rules/legislation will follow in less then 10 years. Thailand is good example where not to go anymore. Too many advertised openly how good this spot was and what they don't like about Europe. The Thaigovernment simply responded and slowly getting rid of all the burned out pore Europeans. Send them back to the mess they have created. Imagine you are 80 years old and get send back to Australia, because all the aussies target your favorite place.

@nehzanekkery8318 Жыл бұрын

The brief statement on your parents in the beginning put a smile on my face. May they lead a healthy and happy life, and God bless and have mercy on them.

@franglais-riders Жыл бұрын

I lived in Brazil for a couple of years, for work. We opened a bank account with HSBC that was an expat account. Allegedly our uk account was linked to our Brazil account. Well, when went back to the UK it became impossible to transfer our Brazil money back. Calling HSBC International expat team, they would ignore you the moment I mentioned Brazil account. In the end I used our two debit cards to withdraw money (300 pounds max each card) everyday until we got most of it. It was a nightmare but taught me a valuable lesson on capital flows and capital controls. And about the value of cash!

@YukonGhibli 11 ай бұрын

And the fact HSBC sucks. Literally one of the, if not the worst bank in the world.

@MrAmhara Жыл бұрын

The European and Anglo-American countries might be the worst passports to possess in the near future. I think so because they tend to justify just about anything for a political or economic end.

@OffshoreCitizen Жыл бұрын

What do you think would be a good option for them?

@DavidWilliams-qr5yj Ай бұрын

That's redickulous

@MrBetabit Жыл бұрын

Limiting transactions to a digital currency may have similar constraints on mobility and commerce.

@mvp019 Жыл бұрын

CBDC will be the end of anything resembling freedom.

@dansemacabre6515 Жыл бұрын

@@mvp019Exactly! Our beloved overlords can freeze your accounts with a single keystroke for any reason they like

@cesuntbanii 11 ай бұрын

oh yeah... CBDCs are the perfect digital prisons...

@maxmatten64 Жыл бұрын

It is already happening. This script is pretty old. The EU just forced every country to have an exit tax, and that exit tax already also applies if one wants to relocate a business to another EU country. In addition, the EU made it illegal to advise people on leaving the country and creating advantages tax structures internationally, even if those tax structures are formally legal. So one has to figure out how to relocate on your own, or use an adviser from outside. And then if one leaves, one has to pay an exit tax. I think one will still be allowed to leave physically, but one will leave naked.

@theroyalrecollections3832 Жыл бұрын

What is the percentage exit tax?

@maxmatten64 Жыл бұрын

@@theroyalrecollections3832 Depends on the country. In Germany for example I believe it is 28% of the value of the company.

@Hangover-ry9bo Жыл бұрын

correct Germany has a law about leaving and running a business to help leaving is illegal from inside of Germany. I read this 21 years ago. Its the brain drain, tax flight, and the middle class they want to keep. Any one with a 40 year long working life ahead of them is worth millions in tax collection.

@caelomarroquin111 10 ай бұрын

Personally, I’m feeling a lot of pressure to have a second passport for a variety of reasons. The US is feeling like a ticking time bomb and honestly I just don’t have the energy or will to engage in some of the insanity that is taking place and growing worse. I’m the caretaker of my 85 yo mom and we need to get out of Dodge- quick like.

@OffshoreCitizen 9 ай бұрын

Yeah probably rarely been a time when there's so much value in back up options

@caelomarroquin111 9 ай бұрын

@@OffshoreCitizen will be reaching out within the next six months.

@ivaniliev8805 Жыл бұрын

Spot on as always , Michael! That's exactly what I have been telling everybody - the impending tsunami from the 'west' to the 'east' is just starting ...best time ever to be part of it before it's too late

@Hangover-ry9bo Жыл бұрын

Tsumani is correct but also destructive. It's realy up to the individuals to not advertise where they go. All the followers will bring baggage and cultural demands to the new place, until the new place becomes infested.

@garrettmgunderson Жыл бұрын

People in the west have proven there is no limit to their entitlement, and the government is disincentivized from educating them with basic reasoning skills to understand that it isn’t moral to basically enslave certain professions to pay for their own end. I think you’re politely understating the matter, great video though.

@rogerwprice Жыл бұрын

As foreseen in The Sovereign Individual - we are living thru chapters 10 and 11 right now

@greenwatcher1620 10 ай бұрын

I share the a very similar view of how things will play out. Great video

@monstrositylabs Жыл бұрын

I totally agree. That's why I don't live in the UK any more. What I do disagree on is the timeline though. I think it will happen over the next 5 or so years.

@theroyalrecollections3832 Жыл бұрын

May I asked where you moved? I am in the US and looking to become bi-Continental. Thanks

@AlbertCloete Жыл бұрын

Yes. This is what's starting to happen for sure. I'm a South African, keenly aware that the government is trying to stop capital and human capital from leaving the country. They won't do this by making the country more attractive for you to stay, they'll just change laws to make it harder or impossible for you to do. They basically want to own you. I'm pretty worried about it.

@jonathanbartsch2938 Жыл бұрын

Me too, seeking solutions to this WEF sponsored gustopo.

@braaitongs Жыл бұрын

me too. Left SA in 2021

@surfboy344 Жыл бұрын

You should be. Leave.

@jenalatz3589 Жыл бұрын

NWO

@theroyalrecollections3832 Жыл бұрын

SA is going thru some hardships now with crime and that whole electricity situation. I lived there in early 2000s. I know folks who are leaving.

@soundslight7754 Жыл бұрын

A reflective Mile - Thanks for sharing your thoughts 😊

@OffshoreCitizen Жыл бұрын

My pleasure!

@craiggibson9725 Жыл бұрын

Excellent video.I agree with your assessment.

@OffshoreCitizen Жыл бұрын

Thanks!

@rodrigocampos3558 Жыл бұрын

Interesting video, Michael. Thanks for sharing.

@OffshoreCitizen Жыл бұрын

Thank you for your support! What are your thoughts?

@Cyber-Shaman Жыл бұрын

Well said. 100% seeing this process happening around all around us, all around the world. What happens when every known country and territory is globalised?

@mcbbcn Жыл бұрын

Great video! Thank you!

@OffshoreCitizen Жыл бұрын

A pleasure is ours. What are your thoughts?

@jay7bah Жыл бұрын

In awe of your insight. Thank you for sharing.

@OffshoreCitizen Жыл бұрын

Thank you for the support! What are your thoughts on the topic?

@jay7bah Жыл бұрын

@@OffshoreCitizen That I need to get another passport with the help of Offshore citizen :D

@jhonnyfromme2109 Жыл бұрын

I like the video and where you think things are going, cool background imagery. Thanks.

@OffshoreCitizen Жыл бұрын

Thanks! Appreciate your support. Where do you think things are going?

@user-hx5kx1he8u Жыл бұрын

The passport system only developed after world war 1. USA diplomats were obliged in 1940-1941 to issue passports to people who had no identification whatsoever but claimed USA nationality.

@SingularityZ3ro1 Жыл бұрын

Fits well together with the plans to push hard for digital state currencies and the digital wallet that comes with it. Something that can conveniently be altered, or revoked, by the click of a checkbox. If I remember right, the EU version is "advertised" as: You will also need it to book a hotel, rent a car, store your driver's license, track your vaccination status, etc. How convenient... In a sense, I feel like it is already starting: As a German living in Cyprus, my passport expired a few months ago, and I instantly got notifications from all my credit institutes, telling me that I need to re-submit new, valid ID documents... (for my private account, but even for the LTDs which are supposed to be their own entities) Otherwise, I will gradually lose access to my bank accounts over the next months... Why? Of course, to protect my security, I could be another person now... To be honest, I was slightly shocked when realizing that regarding how far down the road we are already.

@jonathanbartsch2938 Жыл бұрын

That's sucks, and there is a lesson to be learned from your experience. It's incredible how far down the road one needs to plan for contingencies since we can not trust our greedy WEF sponsored governments. One needs to have everything set up beforehand.. what was your solution, please? That's gotta be tough and super inconvenient, not to mention references, and everything else would be out of date.

@ronti2492 Жыл бұрын

Nice intro Michael, kind and generous. Looks hazy in the back, is this from the fires in N America?

@antonwolkov4455 Жыл бұрын

Noticed this myself with the recently passed double taxation avoidance agreement between the UAE and Israel: the residency clause requires two consecutive years of 183 days instead of one. I wonder if this is a trend / push from the OECD

@chrismovac5274 Жыл бұрын

excellent arguments Michael. Keep up the good work.

@OffshoreCitizen Жыл бұрын

Thank you, Chris! What are your thoughts on the topic?

@chrismovac5274 Жыл бұрын

@@OffshoreCitizen I agree with you that it is just a matter of time until all Western countries start to clamp down on the "wealthy" to try to keep them from leaving or to force them to pay even if they leave. I liked your analysis of how easy it will be for them to convince the other 90% of the population that those who are leaving are selfish and should pay their "fair share". I think the other way they may force people to stay is through the digital passports coming to a country near you (most of the countries have already signed on with The WHO Proposal.) Once passports become fully Digital, any number of factors can be added to permit/restrict travel, such as medical status, divorce/alimony family court issues, criminal records and of course social scores like they already have in China. I think travel and/or choosing to exit a tax system will become a restricted privilege not a choice (like it used to be in Communist countries). East Germany had to build a physical wall to keep people in, now governments can use technology which is much easier.

@samtoye503 Жыл бұрын

Spot on with predictions- but also potential other commercial incentives that also influence migration. Exciting times if your aware!

@OffshoreCitizen Жыл бұрын

Any tips you'd like to share?

@mattball7074 Жыл бұрын

Bang on. Where will people go? I think Argentina, Uruguay, Mexico, here where I am now, Panama, perhaps Costa Rica Rich Caribbean like Cayman, St Barts (?), St.Martin island, Anguilla + Bermuda. St Kitts and Nevis to join the group? Southeast Asia like Malaysia, Thailand East side of Europe like Bulgaria, Turkey, Romania, Croatia, Serbia Maybe the safest spots of Africa like Botswana, Namibia, Tanzania, Rwanda (?) I think those Oceanic islands like Fiji, Vanuatu, Cook islands too Where do you think?

@elizabethtd1006 Жыл бұрын

The war is too close for comfort when it comes to Eastern Europe, plus much of it is EU which makes an Eastern European country as bad in terms of limitations and mandates as any other . Turkey maybe ....or even further, Kazakstan etc . I'd also be curious to hear his opinion !

@HexAlchemist5555 Жыл бұрын

Your ideas seem to echo those espoused by James Dale Davidson and William Rees-Mogg's "The Sovereign Individual," which I find to compelling. All of what you say will unfold as people realize they can move to better places to live, and governments will become desperate to cling on to their most productive citizens. I feel so fortunate I have already taken the appropriate steps to extricate myself and the people around me from this impending calamity.

@ZR_ZingoRingo Жыл бұрын

Thank you

@OffshoreCitizen Жыл бұрын

Welcome!

@mva6044 Жыл бұрын

Michael, technically there already are organizations that have passports that are not officially nations. I am looking into getting a passport through the knights of Malta (they have a consulate in Rome); I also believe if you are a countryless individual you can get a passport through the UN. And there are juristictions in the world like Svalbard where you can legally live with no residency status or passport.

@michiel5160 10 ай бұрын

Interesting. However, I wouldn't could on the UN to save you. And Svalbard sounds pretty miserable.

@wholebitcoiner2574 Жыл бұрын

I love Lethbridge AB too.🇨🇦

@joelr7208 Жыл бұрын

This is a very interesting perspective, however it is always about one’s resources and what kind of lifestyle one wants to live. Diss incentivizing the most productive producers of the tax base, is a sure fire way to have up the masses confused and wanting immediate results, which in turn eventually they have to entice the most productive back to the area. Thus the cycle continues….

@eightsprites Жыл бұрын

Wanted to go and live in USA for a few years, turns out that no BANKs want to work with me in my home country (Sweden) if I get taxed in the USA (U.S. Person) . Add to that I would be stuck with paying taxes for 10 years to Sweden if I left anyhow. This has basically canceled my plans if not stopped them all together.

@user-ic4ce8xb5v Жыл бұрын

wow that's wild. tbh the US (I live here) is going through a bad time now so you're not missing much

@dlukton Жыл бұрын

I've lived in the US all my life; but I really think that if I had never lived in the US.... but were given the opportunity to get US citizenship..... I probably wouldn't take it.

@JDushime Жыл бұрын

I mean yeah you will pay capital gains tax for 10 years if you leave indeed

@enjoyslearningandtravel7957 Жыл бұрын

I had the same problem when I lived in Germany as a U.S Citizen. Only one bank would take me out of four because they didn’t want to do all the extra work It takes to have a US citizen have some money in the German bank.

@OneEyedLion Жыл бұрын

You made this video for me. This is the second time in two days that I received this type of message. The message is clear: Get out now!

@getsmartquick Жыл бұрын

Love the iPhone pan in

@erdemulubas Жыл бұрын

If you start raising taxes of the high net worth people, they will start to run away. Thats why in Turkey government always increasing the taxes that effects the poor people the most (raising VATs on cigarettes etc)

@droid806 Жыл бұрын

A lot of countries already have leave tax. That's a step on that direction. The other issue is where can you enforce a "national" rule. In the 193 countries of world?

@stephandaley3197 Жыл бұрын

Use PPLI and then wind it up after you’re out of the tax net.

@InternetMadeCoder Жыл бұрын

I’ve been thinking this for a while now..

@MattDonaldsonLive 10 ай бұрын

Completely agree

@erniesulovic4734 Жыл бұрын

I am living in Australia and during covid, one thing that isn't well known is that even though our own citizens were not allowed back in, the govt allowed 150 000 Indians per year to come in behind the public's back. Now we are having a housing and rental crisis (gees, I wonder why), and prices have gone up thru the roof including interest rates (which are still way low in my own opinion. I remember the days of 18% interest rates on mortgages). I have heard yet not confirmed that Indians receive mortgage and loan interest rates at much lower amounts....true or not, unsure. Another thing I found out today re Australia is that they will be copying the US re taxes no matter where in the world we live. Thankfully I am moving to Europe to be with my Mrs and applying for citizenship asap and as soon as it hit 60 (5 yrs time) and get my Super, renounce my Aussie citizenship cos they can shove up their cake holes.

@worldobserver3515 Жыл бұрын

In the US they mandated vaccines, but let in six million unvaccinated illegal immigrants. SMH.

@neverlookback7039 10 ай бұрын

europe ??????

@janerikkvarsten2273 10 ай бұрын

You can excape Norway tax net if you move to another Schengen country with less tax for a year, and move on from there, so you can cut it to almost zero if you doo it right, but you have to spend 91 days or more in that coutry to get in to their tax system, and you can apply for tax exemtion for that time as well if you are smart :)

@BlackLabelExpat Жыл бұрын

Makes me want to stop checking that box that ask if you are a dual citizen

@grumpymcgrump5822 Жыл бұрын

As a USA citizen, I wish I could stop paying USA taxes after three years!

@youknowkbbaby 9 ай бұрын

I'm sure the other countries will implement something similar to the US system

@Orson2u 10 ай бұрын

At 5-7m and beyond - precisely what Connecticut did. Decline is a choice spiral.

@egreeno 11 ай бұрын

I have Panamanian and American citizenship. I will soon have Canadian and Spanish citizenship as well. Am I good?

@mobileandroid5299 Жыл бұрын

And second one! Damnnnnn.... BTW, I'm going to set up a call with you! What's the best way to get in touch?

@OffshoreCitizen Жыл бұрын

Thanks for the support! You can do so via Calendly (the link is in the video's description)

@CryptoNerd91 Жыл бұрын

Nice forest in the background. First world counties will try to prevent it's wealthy core from escaping as the west declines more and more. Rather than having a EU or western passport it makes sense to have a south american one. Those have good access as well but they can't enforce taxation to the same extent as the west

@johnnyutah4584 9 ай бұрын

Michael, I think this is an excellent overview. However, this scenario will only be plausible if the United States regains military supremacy and keeps dollar hegemony. Otherwise, taxation will become less and less meaningful if the dollar becomes less and less important. As of now, there are no signs the West is improving. Either way, a second citizenship is a must...

@OffshoreCitizen 9 ай бұрын

Countries will try all sorts of things that won't succeed

@toreon1978 Жыл бұрын

I am pretty sure you are mostly incorrect in your assumption that 2 passports will fix anything. There already exists Leave Tax in Europe and it does not matter if you have 2 passports. If you do not pay the leave tax your account will be frozen. And if you have those funds outside the EU and still leave you will become a fugitive and taken into custody as soon as you return to any EU country. 2 passports fix nothing here. And probably in most countries with access to Interpol as well. There are option but not like that.

@youknowkbbaby 9 ай бұрын

Well I suppose it's best to cut ties to any western nations period. So any passport needs to be from non western sources.

@bfnew4440 Жыл бұрын

Throughout history quite a few countries won't issue a citizen with a passport without completing compulsory military service (let alone consider dual citizenship) . Perhaps a reality check on how easy most of us have it currently is in order?

@RomilCPatel Жыл бұрын

Some still do that. In Singapore you must complete military service before you can even get rid of your citizenship and they have no dual citizenship allowed. Also if you are living overseas as a Singaporean you must return in Singapore when 18 to do military service or face prosecution if you ever step foot in Singapore.

@crossroads670 Жыл бұрын

The real cause of 'inequality' is the cost of purchasing houses. We need to lower house prices. Middle class people are indeed resentful of the rich because of it. Targeting rich people is the wrong solution however.

@katie4408 Жыл бұрын

100%

@MarcelDuits Жыл бұрын

1. They enforce the bordersecurity in the EU. Not just to keep people out. 2. The CBDC will not allow you to transfer money out of the current system - will automatically tax you if you relocate. 3. This is the top of the iceberg. Let's hope it will make the world a better place.

@JP-qn4uo Жыл бұрын

I give Australia max ten years before they do this!

@OffshoreCitizen Жыл бұрын

How do you see Australia in the future?

@danwednesday6748 11 ай бұрын

@@OffshoreCitizen East Germany mirror

@mildes6392 Жыл бұрын

Thanks for the video man! So If I live in Belgium and I want to move to Spain but I open an offshore bank account in Romania and relocate my company there, do I still need to pay taxes to Belgium or Spain ?

@OffshoreCitizen Жыл бұрын

Yes you do where you bank typically has no bearing on your taxes. Generally you can think of it this way if it was s9 easy everyone would do it and the local tax authorities would be out of business so clearly they've created rules to prevent most of the common things you'd try to do. You need to get much more sophisticated

@mildes6392 Жыл бұрын

@@OffshoreCitizen by getting more sophisticated you mean the “I Own Nothing” strategy ?

@Citsci Жыл бұрын

Had a feeling you grew up in the woods. I could tell something possibly feral was always hiding under the surface.

@OffshoreCitizen Жыл бұрын

😂😂😂

@infiad1275 Жыл бұрын

1:35 Yea I jumped! You got me. 😂 Am I blocked?

@ericyuan9718 Жыл бұрын

Oof not great timing to be out and about, are there still active forest fires around there?

@spellbindingjourney Жыл бұрын

Australia is probably going to implement taxation by citizenship. I’m sure Canada will follow as will others. The only option will to get a citizenship in a country that does not do this. But with globalization, there may be none left.

@OffshoreCitizen Жыл бұрын

What would be your plan B?

@spellbindingjourney Жыл бұрын

@@OffshoreCitizen Excellent question, and I'm trying to formulate such a plan, but some countries are far less likely to follow this path quickly, so the first strategy would be to find out which ones. Another, try alternative communities that use barter/gold/silver/crypto for trading, but you must have skill(s) or goods, like food, to trade. Of course, anyone can grow food or raise animals if they have the place to do it. There is no easy solution though, still working on a plan B and even C!

@DavidWilliams-qr5yj 27 күн бұрын

California is already trying to pass laws to continue taxing people moving out, for 5 or more years. It will happen with state to state before it does with the federal government. I've sold all my homes in the US and bought 4 condos and one home it Thailand. The cost of living is 25% of usa costs. If you have 1 million net worth, its like you have 4 million. We love Thailand 🇹🇭

@JimSmithBrazil Жыл бұрын

Once you have a dual citizenship are you then required to pay taxes to both countries on the income you make? Country 1 is the source of your income but you live in Country 2 and have citizenship in both.

@siduk2636 Жыл бұрын

some countries like America will tax you regardless of residence but generally speaking with most passports you are taxable wherever you are considered a tax resident and that usually means living in a country for 6 month or over a year

@lolknight4364 Жыл бұрын

I agree with this perspective. Plus currently at a worldwide scale we see that countries like Saudi Arabia want to join the BRICS which are getting stronger. Therefore many countries including in Africa won't be submitted anymore to pay their debts to the West, and will have more will towards the prices of their ressources sold to them, so those ressources could become much more expensive. The West industries are very dependant of those foreign ressources, with Europe being nearly ressource empty. The resulting would be much more scarcity and inflation and therefore a need for those governing agencies to install more control and prevent wealthy people to leave their countries. A true threat that I hope won't get too painfull and will get solved despite it could take a very long time.

@HoDLum Жыл бұрын

BRICS may be a economic powerhouse but will not be a bastion of freedoms don't make me laugh. Just look at what countries ARE in the bloc. We talking Russia, China, look at other comments from South Africans under this very video. Brazil under Lula reversed many freedoms, vaxx is mandatory again and so on. SA and Brazil will be the first to keep their rich n tax net and physically if possible later.

@KevinBanks512 Жыл бұрын

I shitted my pants when I heard the bear sound 😂😂

@GleeSmee Жыл бұрын

When you go back to see your parents and visit childhood places do you second-guess your decision to expatriate?

@pavel0900 Жыл бұрын

It’s certainly is plausible and very likely to happen

@hhf39p Жыл бұрын

U.S. taxes people abroad. Barbados will not let a person take out their money.

@peaceonearth8693 Жыл бұрын

Except for the politics of the world, I can't imagine leaving that beautiful greenery to go live in a pile of sand and glitz.

@OffshoreCitizen Жыл бұрын

Haha where do you think is ideal?

@peaceonearth8693 Жыл бұрын

@@OffshoreCitizen Somewhere natural, I might say New Zealand if they weren't politically nuts. Thanks for your many good videos!

@dlukton Жыл бұрын

It wouldn't surprise me if more countries decided to make their citizens continue paying taxes for three years (or so) after leaving the country. That being said, I think it's pointless for most people (other than US citizens, of course) who have a good passport to spend time or money getting a second passport. If a person is a citizen of a high-tax country, and wants to exit his tax system, he'll still be obligated to continue paying taxes for 3 years (or whatever the time period) after he leaves.... even if he's got a second passport. YES, he could "skip out" on his tax obligation.... but would it really be worth it? If he did that, he'd be unable to go back to his home country, and he'd risk some sort of retribution from his government if he had a large and unpaid tax bill. So I don't see the need for a citizen of e..g., Spain or Canada or France or Australia (for example) to get a second passport..... unless it can be obtained cheaply and easily.

@mikeb5613 Жыл бұрын

Not only countries will make it more onerous to leave but states like California already are.

@OffshoreCitizen Жыл бұрын

How easy/difficult do you think it will be for states to implement such regulations?

@mikeb5613 Жыл бұрын

@@OffshoreCitizen In some cases, fairly easy. Decades ago when my mother left California, her pension from teaching in the university there was heavily taxed for leaving California. All governments, be them national or more local want to grab more and more money to fund their populist programs. When you sell your home, you will pay an additional “transfer tax” for example, which can be 4% or more. It will never get better, only more onerous.

@MetaphysicalExplorations Жыл бұрын

The same in South Africa!

@OffshoreCitizen Жыл бұрын

How's life in South Africa?

@youknowkbbaby 9 ай бұрын

The US charges $2,300+tax to renounce citizenship. S Africa hasn't done that.

@bbrebozo6417 Жыл бұрын

A “You didn’t build that” exit tax is more likely than the production of a large number of stateless of millionaires and billionaires. Those people fund political campaigns. The little millionaires will be more impacted by a “you didn’t build that” tax because the more you have, the more you can make up.

@MyLatinLife Жыл бұрын

Which countries?

@VoyagerIsHere Жыл бұрын

1:40. What was that?!

@getsmartquick Жыл бұрын

U ever think we will ever work in space and I not just as astronauts

@LydieBaillie Жыл бұрын

yes. very logical path for western countries to follow and some already do. Don't ask how I know ... Now to find a third citizenship passport that does not practise exit taxation.😊

@Mark-fh5lp Жыл бұрын

What if i renounce Canadian citizenship?

@dlukton Жыл бұрын

Why would a Canadian do such a thing?

@matthewnirenberg Жыл бұрын

Just be aware that during the last three years, the Australian govt said that even if one were to renounce their citizenship, they wouldn't be permitted to leave until the travel ban were lifted and that they would risk jail for illegally remaining in the country. Also, note that countries aren't required to accept your renouncement, its up to them to accept it so if they want to refuse, then you remain a citizen. Note that dual nationals (Australia and another country) who spent more than 190 days outside of Australia in the 8 months prior to March 2020, were permitted to leave without requiring permission as they weren't "ordinarily resident in Australia" - note that this was checked against Australia Border Force records by scanning their Australian passports to ensure they met the requirement. Simply put, the govt can do whatever they like because they make the rules, they have the people with badges and guns and the average person just has to "accept" that they have no control unless the govt is willing to let them. If you really need to leave in the future when things are really bad, you may have to do what many have done historically - flee the country with only your clothes and what you can carry / sneak out with knowing that return is impossible. My advice - get out now whilst its safe to and whilst its possible. Know that it means moving your whole life abroad though. Maybe do citizenship by investment (CBI) and then buy a house in the CBI country, move your entire "centre of life" there, fall into that locations tax net. As my grandparents always said, "its better to leave early than a day too late". Remember, if you do CBI, move abroad but keep your Canadian citizenship, then you can always move back in the future. If you truly love and are happy living abroad and are 100% certain that you never want to return or be Canadian, then and only then consider renouncing - understand that once you renounce, its final, there is no going back.

@RomilCPatel Жыл бұрын

Just leave Canada while you can then you won’t have to renounce to stop paying taxes

@JDushime Жыл бұрын

Don't forget exit tax! Countries taxing unrealised gains before you leave!

@worldobserver3515 Жыл бұрын

This is what California is talking about - taxing people after they leave the state for a period of ten years. So, they're basically claiming you as a hostage.

@OffshoreCitizen Жыл бұрын

How do you see California in the future?

@worldobserver3515 Жыл бұрын

@Offshore Citizen third world, failed communist experiment. The taxes will get higher to pay for poor people, like the new idea to add a flat fee to higher earners' electric bills, so poor people can have cheaper rates. This scheme of ever increasing taxes is getting old.

@MrBCWalker01 Жыл бұрын

Now compare this against the forecasts of geopolitical experts like Peter Zeihan. TLDR: With US Establishment being increasingly unable to convince the US population to support globalization, that system breaks down back to more regional blocks; North America has all it needs to remain a (if not THE) superpower, so those who flee NA to go elsewhere will be spending that wealth to recreate what they had back home. The Establishment _as a class_ knows this. That's why they are only concerned about neutering the few viable threats that they have, as they have every confidence that the millionaires and billionaires decamping for elsewhere will be driven back by geopolitical upheavals making those overseas locations untenable for them. It wouldn't take much. Just one more regional war or natural disaster involving a major regional power would do the trick. When there's no more alternatives that are actually better, where's the money going to go? Back where it came. Simple as.

@pm5418 Жыл бұрын

One more Prime Minister like Justin and this can become a reality in Canada pretty quick. They are addicted to spending other people's money..

@worldobserver3515 Жыл бұрын

Until Trudeau has them change the rules so he can stay in power.

@Hunters61 Жыл бұрын

100%

@modelmark Жыл бұрын

Locked in your 15 ninite city

@tonymalerba1067 Жыл бұрын

Asteroid on the WEF

@spankythemonkey9828 Жыл бұрын

Asteroids that travel at hypersonic speed.

@Donatellangelo Жыл бұрын

Now you's can't leave!

@jonathank7667 Жыл бұрын

Is it possible to get a 2nd citizenship if you don't make 6 figures?

@dlukton Жыл бұрын

Naturalization..... ...... or citizenship-by-descent.

@HoDLum Жыл бұрын

Of course, but you need to actually move and live in another country (that has a tried and tested naturalisation process) for X amount of years - from as little as 2 to 5 or 10. Or you can marry a French national - you can apply for French citizenship after a year of marriage without the need to even live in Franc.

@r3dp1ll Жыл бұрын

In Mexico for example, yes. Not that hard.

@RomilCPatel Жыл бұрын

Try to naturalize. Some places will do that in just two years are Argentina or DR and some three like Uruguay. Also look into your family tree for citizenship by decent.

@user-hx5kx1he8u Жыл бұрын

You should find a place close enough to you to bring your parents to you.

@RomilCPatel Жыл бұрын

Exactly what I though. He should help his parents get a second home where he lives as he certainly has a money for it.

@billyflanagan9657 Жыл бұрын

We loan power to the government the government doesn't loan power to the people 🙂

@ZR_ZingoRingo Жыл бұрын

true..."cow to be milked"

@cesuntbanii 11 ай бұрын

The one percent will start using bitcoin and because bitcoin has "number go up technology" a lot of people from the lower rungs will follow. Even state officials wil want to exist the state system into something that is unconfiscatable and holds is value. A black market with payments in bitcoin will develop - the word "donation" will be heavily used in classifieds (I donate a 2017 Mazda - onchain or LN), the state might not cope and crumble (with some sort of a fight). This is where The Sovereing Individual takes hold. No need to leave - sell most assets and go into bitcoin, anonymise it, declare it lost. Bam!

@esportbets Жыл бұрын

If any law can prevent you from leaving, then you are not as rich as you thought. The truly rich will find a way to bend the law or evade whatever obstacle they face.

@themothers Жыл бұрын

Well thats why its unfair…

@joebidet2050 Жыл бұрын

1% of 40million ? So you include under 18 and retired?. More like 200000

@amostofi1999 Жыл бұрын

Become a muslim and tell them you need to leave for Haj. Never come back.

@matthewnirenberg Жыл бұрын

If countries did what Australia did over the last three years, that won't work. The travel ban stopped that and internal restrictions both prevented all worship (except from home) and made travel to the airport illegal (if it was further than 5km from your house) even if you had managed to get a permit to leave as said permit didn't permit you to travel more than 5km, it only permitted you to cross the national border. The scary part is now that they've done it once successfully, what's to stop them from doing it again? My advice is get out now before its too late.

@veritasoffshore Жыл бұрын

Winter is coming.

@bigb9673 Жыл бұрын

Canada The worst during covid

@hemantparakh6462 Жыл бұрын

I take €5 of Passive income to stay in these Countries instead of People who wish to Expatriate

@CosmosChill7649 Жыл бұрын

Rich countries will continue to be richer for a reason - they are able to create money and lend it out to the poorer countries. And the rich ( and influential ) from the poorer countries, move out to the richer ones. Both happen with the concurrence of the powers in both of them, and is not likely to change.

@hangwithdoug 10 ай бұрын

It will be a worldwide hunt for rich people. haha

@joebloggs339 Жыл бұрын

Did youtube shadowban me or did the host?

@OffshoreCitizen Жыл бұрын

Hi David, no bans :) We just manually approve all the comments as there are a lot of scammers offering false services. It's our priority to protect our audience, hence check all the comments first. So it takes a while to approve everybody

@joebloggs339 Жыл бұрын

@@OffshoreCitizen Oh phew - bc I watch all your videos and I like to comment. Many Thanks

@mobileandroid5299 Жыл бұрын

Yooooooooooooooooo......... I am the first one!