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15% tax + taxes in your country. Also be prepared that inflation eat all your profit.

Hi there, If you sell your house in the USA and have a capital gain would you be able to decrease or eliminate the gain if you purchase a house in Spain? Thank you.

I am surprised you didn't mention a third pro direct indexing has going: for US expats in the EU it avoids PFIC rules from the IRS and the EU ban on EU residents buying US based ETFs....

Super vid. As a nonresident alien I learned a lot I didn't know

The question is How?! Everyone seems to be beating about the bush... people wanna know HOW....

Really good content. Thank you.

I'm working for a software solution to this exact problem: Problem: Moving around is hard: what will be my taxes, how should I prepare? What will happen to my retirement account? What about social security?

You mentioned Charles Schwab being international expat friendly, what about Vanguard? Are there certain European countries besides UK that Vanguard would allow?

1- IBKR 2- IBKR 3- IBKR

Can l ask if buy a condo in another country and they deport you, not that l make it a habit of getting deported , but what then?

6:40 just search for bnp Paribas international on Google map in Paris. You'll see branches specialized in all continents.

Super useful info, thank you!! Would a High Yield Savings Account with a Spanish bank (cuenta remunerada) qualify as a PFIC?

Well Vanguard does not let you open a Roth IRA if you are living outside of the US or working outside the US for more than half t of the year, and Fidelity does not allow you to open an account if you are living outside of the US

12:15 not necessarily. Not all renunciations trigger a covered expatriate status. And not all covered expatriates have an exit tax to pay under section 877A. There is also the dual citizen at birth exemption.

ROTH IRA question, please! If you are a more "normal waged" worker in say Japan or China, making around 50,000 USD a year, the only way to contribute to a Roth IRA would be through foreign tax credits, right? 50K gross in China would likely come out to about 5,500 or 6,000 USD in total taxes paid to the Chinese government, I believe. 50,000 USD of earned income in the US would make me liable for about 6,300 USD of federal income tax, right? So would I owe the US government about 300-600 USD after my foreign tax credit? Then, I would legally be allowed to contribute the full 7,000 to my Roth IRA? If not, maybe just taking the FEIE would be better? Then I could contribute to a normal brokerage account and just buy and hold. Hoping to put in about 15K a year into a brokerage account and save another 9/10K cash due to the lower cost of living in Asia.

ROTH IRA question, please! If you are a more "normal waged" worker in say Japan or China, making around 50,000 USD a year, the only way to contribute to a Roth IRA would be through foreign tax credits, right? 50K gross in China would likely come out to about 5,500 or 6,000 USD in total taxes paid to the Chinese government, I believe. 50,000 USD of earned income in the US would make me liable for about 6,300 USD of federal income tax, right? So would I owe the US government about 300-600 USD after my foreign tax credit? Then, I would legally be allowed to contribute the full 7,000 to my Roth IRA? If not, maybe just taking the FEIE would be better? Then I could contribute to a normal brokerage account and just buy and hold. Hoping to put in about 15K a year into a brokerage account and save another 9/10K cash due to the lower cost of living in Asia.

How about Vanguard? No problem in Asia?

ROTH IRA question, please! If you are a more "normal waged" worker in say Japan or China, making around 50,000 USD a year, the only way to contribute to a Roth IRA would be through foreign tax credits, right? 50K gross in China would likely come out to about 5,500 or 6,000 USD in total taxes paid to the Chinese government, I believe. 50,000 USD of earned income in the US would make me liable for about 6,300 USD of federal income tax, right? So would I owe the US government about 300-600 USD after my foreign tax credit? Then, I would legally be allowed to contribute the full 7,000 to my Roth IRA? If not, maybe just taking the FEIE would be better? Then I could contribute to a normal brokerage account and just buy and hold. Hoping to put in about 15K a year into a brokerage account and save another 9/10K cash due to the lower cost of living in Asia.

Real estate speculation by foreigners is making impossible for locals to buy or rent a house

Any idea what applies as scientific? A PhD giving classes in PT would qualify?

Diz-me a verdade

Actually, he resigned, but they found out that it was a person with the same 2 first names, but the last name is Silva, so it's wasn't him. Antonio Costa Da Silva is the person that they are investigating. I don't know what's so funny about apologizing for starting the trans atlantic slave trade. If you all think for one second that people's lives are not affected today because of it, then you are very wrong. I can guarantee you would not want to be black in Brazil. Be happy that you are white and your ancestors were free. Parabens!

Dá-me verdade. Tone.

Ok so is it startups with more than 25 employees or startups with less than 25 employees? I’m applying for the startup visa and have not gotten approved (yet) but I am very interested to see if I can still qualify for the NHR with my tech startup.

You have been one of the key sources I have relied on for PT tax information. My wife (dual EU/USA) and I will hopefully be moving to Madeira this spring. We are waiting for the full text of the budget to be published by the government in Lisbon this Thursday. We were in Funchal at the end of November to apply for her residency CRUE, and we SHOULD BE good to go, provided the official transitional regime is as previously leaked, and the Madeiran government doesn't pull a fast one on us (they seem to be anti end of NHR anyway). BTW, I'm an audio engineer by trade, and those Shure SM-7's are directional cardoid microphones. Stan is completely off-axis to the pickup pattern of the mic in this video, and some of what he is saying as he trails off at the end of his sentences is so quiet that it's unintelligible. Other than that audio nit-picking, great job guys! Thanks!

Are any of these exit tax considerations impacted by international tax treaties? For example USA/CAN treatment of retirement accounts? Also - can you confirm that retirement accounts are taxed at gross / pre-value, so withdrawal plan over prior years could reduce your taxable amount?

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.Thanks to bridgestow

What taxes does would one retired person moving to Portugal from USA have to pay on social security and 401K income have to pay now, 2023, vs end of NHR in 2024. Considering move in 2024 but I am confused on all of this. Since you are already paying taxes on your 401k withdrawal in Usa, you still have to pay taxes in Portugal on both Social security and 401K that your earned in US. Dbl.taxation? Writeofs?

Hi - Are American capital gains taxed for someone moving to France ?

Are you guys joking? How are Russian investments any save today in the UK or in the US or in any European state? LMAO If there is any issue with you not following the Western narrative - they take your stuff! Done!

I think direct indexing the nasdaq 100 is much easier to track since it has only 100. And it has out performed almost all indeces except tech heavy or tech only indexes

We were considering retirement to Portugal, but they are shotting down NHR, very disappointed. We visited both Portugal and Spain, and loved Spain. So is couple retiring in Spain now will pay lesser taxes than Portugal? We are americans, and roughly will get social security about $3000/mo and 401k $2000/mo. Will be paying roughly $250/mo in US taxes. How much taxes we will roughly pay in Spain? I am 59 today.

For white immigrants. Let's keep it real.

I am surprised you didn’t talk about Slovakia or Czech Republic.

We are retired Americans planning move to Portugal in 2024. We have already invested in Portugal with the purchase of a condo currently under construction. My question is about the taxes for our pension and social security from the US. Is Portugal planning to increase taxes on retirees? I’m not clear on the double taxation agreement between Portugal and US.

First video I come across that doesn't beat around the bush and just lists my options. Unfortunately, I live in stupid ass Japan, so Schwab is not an option. I'll try those other brokers you mentioned. Ty

In Italy you can (still) get the same total tax benefit anywhere - just you get more in a single year if you head down south. So 30% of income is taxed in the north, 10% in the south however the total tax benefit is capped at the same amount in any 3 year period. So largely in the north you need to cap taxable income to 180k annually, in the south maybe 130k? IDK detail on the latter - Im in the north

2:34 I agree it has been a success , but bear in mind : 89,000 enlisted for NHR *Only 10,000 are still here* Cancelling it will make little difference… But many Portuguese think it will … Those Portuguese that think they should have a T2 apartment for €150K when they cost €250K plus are never going to be happy . They need to peek at Spain/Italy/ Croatia/Greece … these (expensive property) problems exist elsewhere….

Yes you will pay more taxes in Portugal overall compared to US taxes since the deductions are much smaller and the rates a bit higher, however cost of living is dramatically lower (outside Lisbon) than it is in USA. So for families earning less than $100k/yr USD it’s much better value for your money. If you’re earning more than that, then the tax changes should really give you pause. I moved to Spain and I don’t receive a special tax status but we live a much better quality of life even thought we pay about $5k-$10k more a year in taxes. If you really want to avoid higher taxes, then I recommend island nations w advantageous tax schemes like St. Lucia, OR central or South America, OR extremely high cost of living (ie Singapore). But if you are middle income person/family and if had your heart set on Portugal for the culture, infrastructure, healthcare, weather of Portugal, then the ending of the NHR program should not dissuade you.

It's a progressive tax system, starts at 14.5% for the first 7,479 EUR, then it goes to 21%, etc, up to 48%. There are also tax credits that can reduce total tax owed. It's not that you will get taxed at 48% for all your income.

Im worried. We are right in the middle of the process and now it’s become very complicated. Our tax attorney and Visa specialist don’t really know what’s going on. We are moving forward but with caution. Our kids are enrolled in school and we were looking at places last week. 48% tax on income over 80K is a lot more vs what we were looking at realistically with NHR. And we can’t get any guarantees that we can get it. VFS meeting in Nov. Temp visa is 45 days later. SEF is 30 days after that. Then takes 2-4 months to get the resident Visa, then 2 more months for NHR approval. If we had the VFS today it would be March or April at best to get if sorted. Having a hard time seeing this working for us and we are far along in the process. Super bummed right now.

We were seriously looking at Portugal for a country to move to with pre move scouting trip this next year. 48% vs 10% tax rate makes a huge difference and it is likely off our list because of that. I wish it wasn't so but it sure seems to be. I am not sure why if housing costs and supply is such a big reason to stop the NHR program that Portugal doesn't do like Italy or Greece and only allow the NHR program in areas where housing cost and availability are less stressed. That way you get foreigner dollars(Euros) year round, increase economic activity in slow or declining areas while supporting the economy locally and nationally. This goes even further when retirees come and don't displace a Portuguese worker but probably help employ some.

The budget that was released a few days ago says you must be a tax resident by the of 2023. They DO NOT want a major influx in 2024. Unless you are already pretty far along in the process it is probably too late.

As i understand you cannot invest as us citizens in Switzerland banck wouldn't accept you, you can open a 3a pilar but cannot invest, is that correct?

Hi, I have a question. You mention that as an expat working in Spain, you can contribute to a pension plan via your job. In my case, I don’t have a plan through my job. Could I create a Spanish pension account? Or would this be considered a PFIC and not make it possible to declare it on my US taxes? Thanks

Hungary with paranoid fascist Orban, are you fucking kidding?

the 7% Italian plan has been around for over 10 years.

Well that was useless info.

I retired at 46 and in the almost 10 years since the hardest part is answering the question everyone has. What do you do? There was some adjustment but everyone says "you are too young to be retired" or what do you do all day. As a man I doubt these same people would ask a stay at home mom or housewife the same question or even think the same. Regardless doing hobbies and travel keep me busy as does the ease of doing normal chores and activities without the pressure of having to get it done before work starts back up. Doing the activities and lengthier trips I couldn't or wouldn't do while working and burning vacation time is so freeing. It is worth thinking about but I think too many people fear change or losing their identity so they put off retirement until they are old and in poor health then they can't enjoy it. I worked from 16-46 or 30 years and I hope I live to 76 to balance it out or even better to 92 for a 50/50 split.

How are things?. how splendid , 🤙