For most people, that's taxes in Europe vs taxes + health insurance premiums in the US.
Even if the combined totals are equivalent or higher in Europe, government-provided healthcare provides cost predictability that doesn't exist in the US. One year I might pay a much lower amount in the US, while the next year a single medical procedure could easily double my expenses.
Monaco is the place if you're super rich.
Point you're making applies to countries like Belgium or France.
I'm all for progressive taxes, but fuck system where Comarch CEO pays fraction of my tax percentage.
I'm not doing it tho, 15% ryczałt (lump sum?) is low enough to not care, and ipbox seems like tax trap. I'm not paying money to villains like Memcen to lower my taxes.
I think even at the biggest FAANGS in the US, you total <<net>> compensation as a senior engineer will be $250k-$300k, leaving the ratio somewhere around 4-5x (and this is for a super limited set of companies and positions; I'd imagine that the average ratio would be closer to 2-3x).
And don't forget that local living expenses are minimal. You'd get to keep maybe even 90% of your salary.
[0] https://justjoin.it/remote-poland?tab=with-salary&sort=salar...
The median Romanian net salary for software developers is RON 7000 per month. That's about €1400 or $1600 per month, so $19.2K, net. 3x.
You were saying?
> I'd imagine that the average ratio would be closer to 2-3x
To which you replied:
> 10% is a gross exaggeration but "the average ratio would be closer to 2-3x" sounds equally exaggerated in the other direction.
My original example pointed to the top of the range and then I used the median, which is the statistically most relevant indicator for comparing salaries.
> 3x != 2x, and I suspect 3x is still too low; also comparing median salaries is not enough.
At this point, you're arguing in bad faith.
https://www.vox.com/recode/2020/11/9/21547055/eric-schmidt-g...
Any country can be a tax haven if you're not already living there and rich enough to negotiate special terms.
Greece and Cyprus offers citizenship-by-investment, and there are many ways wealthy people can 'invest' in the same way they do 'philanthropy'.
Remote work? Or own a foreign company and pay yourself in dividends? These are extremely common cases.
> And on top of that, Cyprus is one of the few european countries that are not yet in the Schengen area. So you'll have to stay on the tiny 9,251 Square Kilometers.
That's not how Schengen works: Schengen is about being able to freely travel in the Schengen area without having to even show your passport / national ID card. For example I regularly cross borders, by car, between Belgium, France, Spain, Monaco and Andorra (Monaco is Schengen while Andorra, wonderful place on earth btw, is not, but Andorra has got agreements for free travel with France and Spain anyway) and I've never been asked my ID once. Heck, lately I've always been doing my PCR tests, as officially required due to the sars-cov-2 restrictions, and although it's mandatory to cross borders I've never been asked to show them.
A passport from Cyprus allows you to travel, without the need for a visa, to most countries in the world if I'm not mistaken. The thing is: because Cyprus is an island you'll very often be flying to/from there and you'll have to show your passport. But you're definitely not stuck on the island.
I think Eric Schmidt can afford that
> you know that you pay taxes on the country you live & work in
Yes, I know this. I live abroad.
Yes, every country has taxes. The tax rates are not the same. Additionally, countries like Singapore have zero capital gains tax. Executives can just take a symbolic job and pay themselves a symbolic salary, but they're not getting rich off their salaries
No you won't, you'll just have to pass a border control whenever you leave or re-enter the country. That's hardly a huge hindrance, unless you're wanted.