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Well said. Unfortunately, despite all of our warnings, the crowd will continue to listen to the Snake Oil Salesman.

I cannot tell you anything about that country. My discussion with @Don is about Georgia. You mix two things that have nothing to do with each other. No. Read again. And think. This discussion has become meaningless since everything has been said: A Georgian HNWI certificate cannot be used for...

In cloud cuckoo land. I do not need any banned goods. So, no need for any "seperate money". -------------------------------------------------------------- Why do you cite the last part of post #21 ?

Again hot air. If such a person stays more than 183 days in any rolling 12-months-period, he/she is an ordinary tax resident. HNWI is not applicable (will be disregarded). Note: Ordinary tax residence is automatic, by law. HNWI is voluntary, based on a specific application.

Just hot air. Nothing special here. @kekmaw replied to post #32 which refers to the Georgian HNWI certificate. A person with GE HNWI status cannot use a DTT.

No! Read the last sentence of your citation.

No !

This cannot be compared. There is a difference between the Georgian HNWI certificate and the Georgian ordinary tax residence certificate. No matter if the Georgian ordinary tax residence certificate is issued in connection with a DTT or not, it is very useful for many situations. The very same...

Of course, "RIGHT". The question is why you started all this bla-bla and repeated it even in your post #22. A tax residence certificate is -first of all- just a piece of paper. It confirms that the issuing country claims you as being its tax resident. In this forum many people write about a tax...

No, not at all. Another prominent example is Switzerland with its (unfortunately not yet abolished) lump sum taxation for ultra-wealthy foreigners (a Swiss cannot take advantage of this system at all). So, please check your understanding of the system. Do not construct some fancy model just by...

Every tax authority on Planet Earth will laugh about this piece of paper.

It will be regulated to death, unfortunately. Rest assured, if governments and politicians are good in one thing then it is to kill innovation. When Wise informed me about this -> Wise personal account is Joke I stopped doing business with them. It has become financially uninteresting to...

Most of the new houses (buildings) in Southern and Eastern Europe, Central Asia and the Middle East are of very low quality. At least until now developers have found enough morons who bought that crap. So, "high quality" is -sadly- not a requirement.

Well, if you skip "overpriced" you can do that in Georgia. The local financial industry gives anybody a mortgage. And you can see it in the country: Buildings are being erected everywhere. Of course, quality is miserable and prices are cratering.

This one will get very fast very big. It's easy for them to implement since they have already everything in place. Just expand on the CRS system. https://www.oecd-ilibrary.org/sites/0e164a20-en/index.html?itemId=/content/component/0e164a20-en

It's written on the HNWI certificate. Moreover, the changes have been discussed at length in this forum about a year ago. Actually, the HNWI certificate could never be used for international tax purposes since it doesn't qualify for ordinary tax residency. Well, I don't have the time to go...

Nope, the HNWI certificate cannot be used for DTT purposes. Moreover, conditions have been amended recently. Please collect information on the ground and read the Georgian version of the Tax Code. One year leisure without being able to demonstrate taxation elsewhere won't be accepted by RS. You...

They cannot do anything in Georgia. It is relatively difficult for them to open and maintain a bank account, to get a residence permit (if they really want one), to find a job and to find a sympathetic landlord. Many leave for Serbia. They are young and Western-oriented, and the lifestyle in...

The part of ToS you cited does not give the bank the possibility to charge whatever it wants. You always have to see the ToS in connection with the official fee schedule. FIDLEG + FINRA regulations apply to a Private Bank as much as to any other Swiss financial institution. There must be more...

Sounds ridiculous. Even private banks have a fee schedule (which is always up to negotiation). Maybe the client confused that amount with the money he/she lost during stupid speculation with dubious financial instruments in that specific account :rolleyes: Last edited: Nov 7, 2023