Finding the Best Country for Value: Top Tax Policies and Benefits
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I think this isn't the top tier though. I'm︄ in this tier and I don't feel any closer to being at the top tier...︅
If u have a net worth of $1M, you cannot afford most of the residency︆ visa by investment, also the Bahamas' cost of living can be challenging.
The top tier︇ would be 10-30M net worth minimum.
Honest question about Switzerland, what are the tax rates︈ one can achieve doing the loopholes? I've reading in the forum out of curiosity but︉ I don't think we found a consensus. Some say it's too expensive, some say it's︊ not.
E.g. why having kids wouldn't be a good idea? Expensive schools?
If u have a net worth of $1M, you cannot afford most of the residency︆ visa by investment, also the Bahamas' cost of living can be challenging.
The top tier︇ would be 10-30M net worth minimum.
Honest question about Switzerland, what are the tax rates︈ one can achieve doing the loopholes? I've reading in the forum out of curiosity but︉ I don't think we found a consensus. Some say it's too expensive, some say it's︊ not.
E.g. why having kids wouldn't be a good idea? Expensive schools?
I would appreciate someone︁ breaking it down into more tiers and sub-tiers and explaining why jurisdiction x is best︂ in each case. It would make such a guide more interesting, and to be fair,︃ one starts to have the ability to be genuinely mobile only at a certain amount︄ of wealth, where it could also yield the most significant impact.
In regards to top︅ tier classification to quote a Swiss Bank: "To be among the global top 10 per︆ cent, you may not need as much money as you think. According to the 2018︇ Global Wealth Report from Credit Suisse Research Institute, you don’t even need six figures. A︈ net worth of $93,170 U.S. is enough to make you richer than 90 per cent︉ of people around the world, Credit Suisse reports. The institute defines net worth, or “wealth,”︊ as “the value of financial assets plus real assets (principally housing) owned by households, minus︋ their debts.”"
In regards to top︅ tier classification to quote a Swiss Bank: "To be among the global top 10 per︆ cent, you may not need as much money as you think. According to the 2018︇ Global Wealth Report from Credit Suisse Research Institute, you don’t even need six figures. A︈ net worth of $93,170 U.S. is enough to make you richer than 90 per cent︉ of people around the world, Credit Suisse reports. The institute defines net worth, or “wealth,”︊ as “the value of financial assets plus real assets (principally housing) owned by households, minus︋ their debts.”"
That means you are a big spender which likes western standards. If you were a backpacker, you would be in the UAE and live in Sharjah or Ajman where restaurants are scarce and spending more than 20 USD per person︀ is difficult.
I think I wrote pretty much about Switzerland on this forum. To summarise︃ it nicely: Switzerland was formed by parts from multiple countries (actually more like Duchies, but︄ let's just call them countries for now). It consists of numerous mountain valleys and has︅ 4 official languages, none of them being English. With all those cultures in one country,︆ there is also a myriad of different laws (and tax rates). The highest marginal tax︇ rate varies between almost 30 and 60%. While you will get away cheaply in Baar,︈ you will pay the a*s out of you in Geneva. On top of that there︉ is also flat rate taxation, but this is only interesting for those in the 8th︊ tier as the minimum payable is 400k.
Then comes the classic student problem. While no︋ Swiss student has been spotted eating at a restaurant and cooking at home is completely︌ normal for them, the immigrant students miss the restaurants they can no longer afford every︍ day. If you are from Chile and used to maids at 300 USD or less︎ per month, you may think Switzerland is rich. And it is rich, but even the️ rich take out their trash on their own because maids are also rich.
It is good, everybody is rich. Just be sure to remember when you are there next time: all employees of any kind cost the employer 6k per month minimum. If you are native, you won't have any issues. If not, just get used to DIY.
It limits you on your destinations and on the travel frequency.
I think I wrote pretty much about Switzerland on this forum. To summarise︃ it nicely: Switzerland was formed by parts from multiple countries (actually more like Duchies, but︄ let's just call them countries for now). It consists of numerous mountain valleys and has︅ 4 official languages, none of them being English. With all those cultures in one country,︆ there is also a myriad of different laws (and tax rates). The highest marginal tax︇ rate varies between almost 30 and 60%. While you will get away cheaply in Baar,︈ you will pay the a*s out of you in Geneva. On top of that there︉ is also flat rate taxation, but this is only interesting for those in the 8th︊ tier as the minimum payable is 400k.
Then comes the classic student problem. While no︋ Swiss student has been spotted eating at a restaurant and cooking at home is completely︌ normal for them, the immigrant students miss the restaurants they can no longer afford every︍ day. If you are from Chile and used to maids at 300 USD or less︎ per month, you may think Switzerland is rich. And it is rich, but even the️ rich take out their trash on their own because maids are also rich.
It is good, everybody is rich. Just be sure to remember when you are there next time: all employees of any kind cost the employer 6k per month minimum. If you are native, you won't have any issues. If not, just get used to DIY.
It limits you on your destinations and on the travel frequency.
The current world population is 8.1 billion people. And according to Kiplinger, globally there are about 59 million millionaires. Less than 1%.
How many millionaires are in the world?
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