Why I Left Europe Forever
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- Опубліковано 9 чер 2024
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I lived the first 24 years of my life in Europe and I never felt like I fit in that well.
Specifically - I am someone who is obsessed with growth: growing personally, growing my wealth, and moving forward - and as years went by, I started feeling that Europe was a place that was the opposite of that: a place that looked to the past, rather than the future, that was more focused on pulling people like me down rather than moving forward.
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CHAPTERS:
0:00 I'm Not a Fan of Europe
1:10 Crazy Taxes
4:10 Culture
6:30 Running a Business
7:30 "But Europe has high quality of life"
8:50 Is Europe Right for You?
9:40 Where to go instead
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I will never forget when I had some friends over, a couple of months ago, and we all were joking about how pensions will be a joke when we retire. Everyone agreed. Everyone accepted it as a fact. Everyone laughed about it. Nobody seemed worried about it.
Damn, crazy
There will probably be a nuclear war before then so dont worry mate
You're speaking my mind🙄👍
I'm gonna join you in Dubai☀️
Hi Tuomas. It’s so refreshing to see your videos, as very few people (online anyway) tend to share our love of dynamic and exciting cities that look to the future. I’m from Dublin and find Europe so sclerotic. I’ve lived in Bangkok and Astana and will move to Doha soon. Hope to get over to Dubai for a visit this year. Keep the good content up!
Thanks for sharing!
This was great. Why? You were honest and very even-handed in your analysis. I am old enough to be your dad, and what you are saying about "growth mindedness" being behind your move (among other things) may seem like it would appeal to the younger crowd, but here I am in my mid-50s agreeing with you 100%. I am in southern California. I moved here when I was younger because I thought it was a dynamic place with perfect weather and has always had an mythical aura about it in American culture. This place has changed A LOT over the course of my adult life. There is no more "California Dreamin'" and the "Blonde Surfer Boy" went extinct around the year 2005. I think within a few months I will be in a position to relocate. You have given me a lot of food for thought across your videos, so for that I thank you very much.
Happy to hear I could help. Yeah I grew up dreaming of California but I have realized that is no longer the promised land. Hope it gets back up although it will get worse before it gets better.
blonde surfer boy went Extinct? how is that an issue?
I’m 57 and live in Ca for another month. I’m from here.
He’s exactly right about the conditions here now. I’m leaving and never looking back.
You fixed your posters above your bed, nice!
Factssss
Ex-londoner here. Absolutely decline city and west Europe in decadence.
London looks more middle eastern now than Dubai LOL
Thank you for sharing. Do you do Q&As?
I will do at some point!
1- Income tax: The first instance of income tax in Britain was during King Richard, who needed to raise money to fund first Crusade :)
2- EU culture of risk averse: Well America makes innovation and EU just regulate and tax American tech companies to generate revenue. Works well. Squeeze money from American innovation as much as possible. There's a video from Eric Schmidt that talks about it.
After moving to Barcelona for 5 months, I am already planning to leave it, great place, but Europe won't be any good in the future
Can I share your video (this) on my Facebook page?
I come from Paris and now live in London. I share your analysis. What about the USA? I'm also thinking of leaving Europe and have always dreamed of the USA. Is the US still competitive with places like Dubai ? (I'm not setting up a business, I'm a young graduate from a top tier European university who wants to work in tech)?
If you want to work in tech then USA is 100% the best choice (if you can somehow get a work visa there)
Dubai is optimal for online entrepreneurs and/or banking, real estate, consulting and a few other industries. Not there yet for tech.
Do you recommend for a digital nomad from a 3rd world country to settle in Europe (Germany) for a while to get a strong passport, or move to Dubai or south east Asia were you can't really naturalize but will have a better network as an entrepreneur & an overall better environment to grow your business ?
Depends on how important that passport would be for you, hard to say
Would be great to know where expats can look for dubai jobs, what the salaries are like, were to live etc etc.
Last month i paid 63% tax here in Denmark. I am thinking about moving out by the end of this year. You just work hard and live a normal life, that's the role here
🤯🤯
Very true! There is a lot of red tape.
I think even more so, if you have a small business with €3-4M revenue... Tons of expenses, employees etc... And you manage to get lets say €2-300k profit...
Then step one... Handover 25% in company tax... I can't even reinvest the full amount in the following accounting year within the company.
It's insane... Dubai with the 9% tax is also making this mistake... But at least compensating with no income tax...
But that is the initial way to stop growth of companies... That's why a LLC in Delaware for an example is so popular for foreigners. As you don't have company tax as such - it's first taxed at distribution.
I think Estonia has something similar.
With a US LLC you have to pay tax on the profits wherever you run that company from - for eg, you can't escape UAE corporate tax with a US LLC
Other than that agree, although 9% tax is tiny compared to everything you have in most other places
@tuomaskiv Now it's coming into tax advice which is not a category I'm going into...
But let's say you founder Amazing Software LLC... You may even own this personally.
You may have a Freezone company in UAE that you just invoice for your role in the US LLC. And only drag out the money you need.
US LLC gives you better payment infrastructure to charge credit cards yet - you decide to keep your taxation minimal.
You can still do quite a lot within fair pricing regulations as a small shop...
If you are trying to built a number of software businesses at the same time this can be beneficial...
But hey... All your videos seem to work.. Think we are heading to join you in a few weeks ;-)
Yes that is the exact structure I have - US LLC owned by UAE holding corp to get better payment processing via the LLC.
But the profits of that structure are taxable in the UAE (unless you claim small business releif which you can if you make less than 3mm aed)
US LLC is a pass-theough entity which means all its profits are automatically passed through to the owner - not possible to defer tax with it. And the US LLC is resident in the UAE if you run it from there.
Point is that the LLC will not allow you to avoid UAE corp tax
@@tuomaskiv If you owned the US LLC personally, you can decide not to pay tax of it... And then expense it to the UAE corp...
But you are right if you are UAE company owns your US LLC.
No you can’t, it pays tax wherever it is resident
50pct is absolutely crazy
❤❤❤
I like your mindset , most of employees now are bankrupted in Europe with taxes of 50% to give them to drug addicts and gangs
💯
What’s the dating scene out their like especially for a younger guy I could be wrong but I imagine for guys it’s quite a struggle
In Dubai? Yes it’s harder, but doable.
the gender disparity is insane. so mush more men than women.. very artifical and unnatural, cuz of many foreign male workers
@@tuomaskiv why is it hard?
Correct.....
100% true, I lived in Russia before the war as a German . less taxes , better bunsiness mentality
Northern Europe has cleanest air. I don't think Dubai air is so clean. Regulation also work both ways: once you run a business in Europe you can block others from threatening your market share. Not many people will want to overcome regulatory hurdles.
If slightly cleaner air is worth 50% tax + cold shitty weather to you then fair enough, each to their own
@@tuomaskivHe probably loves cold 🥶
Wait, wait, wait, I came from a poor country, and I emigrated to Europe, working as a software developer, the half of my salary goes directly to pay taxes, not all people from poor country are a weight.
What about your health? Isn't the air quality supposed to be very bad indoors and outdoors?
Will you renounce your citizenship?
Nah, not unless there are signs that Finland will adopt some crazy policies - but I will keep my eye out for plan Bs
@@tuomaskiv you may as well give it up 😄
What is the minimum budget/salary for somebody from western Europe to relocate there? I would say not less than a salary of 8k gross per month. Which is an insanely high salary if you ask me.
This is why people don't move there, it's just not possible to go there on a good salary, let alone an average one of typically 2-4k in western Europe. For that salary, you get at least 1-2k per month if you lose your job here. If you lose your job in Dubai.. Then good luck with staying there legally. Within 6 months, an average employee will come back to Europe without savings and rely on parents or family... If you don't have that, then you're homeless basically. This is still a good scenario though because it's better than becoming homeless in Dubai - it's illegal and you will land in prison, getting whipped and lashed on a daily basis for looking the guards in the eye.. Or am I mistaken?
It can happen fast.
1) I am not taling about the average person, I am (mainly) talking about a successful person who isn’t working a 9-5
2) no you will not go to prison 🤣🤣, you just have to leave the country.
@@tuomaskiv Successful meaning having your own company and making/getting at least 5 figures monthly somehow..
So step 1) Become millionaire
Step 2) Move there
Not the other way around! :)
You only have to own your online business or remote jobs to move there as working in dubai requires a qualifcation or something else to hire you to work in dubai. So, it can be both of things and save up and move there via all the regulations and loopholes to get out of the country where you at.
0% tax if you make less than $800k/yr? Is that profit or revenue? I thought it was $100k/yr
Revenue.
1. If you make less than ~800k usd (3mm aed) revenue -> exempt from corporate tax (small business releif)
2. If you make more than 3mm aed revenue, first 375k profit is 0% tax, rest (or profit) is 9%
interesting video, the whole define quality of life exercise is interesting I'll definitely give it a try, I guess different things are not for everyone, speaking as a guy who grew up in ksa where there's no freedom, and religious morality shoved down your face. I don't think I wanna live in any Islamic nations.. I love Western morality resonates more with me.
try Indonesia, it's a mix of religious morality, with a lil bit of western freedom. just live in Jakarta or Bali. religious morality is on the table but not shoved down to your throat. A lot of bars and night club and so did a lot of mosque, churches, and temple.
You don't saw Brazil man, high taxes and poor return, very sad!!!
EU is lost.
You’re a smart guy, great arguments. Europe is crumbling due to mass migration and many other reasons
Makes sense to me. Different people have different priorities, wants and needs. As long as you think about where you live and if it's suitable for you then that's the main thing. Personally I'm gay so I would always prefer Europe over Dubai, considering I would be put in jail in the latter just for falling in love. :)
Agreed.
(Btw you would not be put to jail for that lol, this is yet another misconception)
@@tuomaskivBut it’s illegal there, which is a massive curtailment of liberty.
Good
@@D3MANEGood you’re there away from me. 😂
It's not illegal there. Misconception.
I hate Europe too.... (I'm from South-Eastern Europe and lived in the UK, also traveled around Europe). If I could move to Asia or the USA would be amazing... the other thing is that when you say Europe everyone only thinks about the rich North-Western part of the continent and not about the East (Balkan, Baltic, etc) or South even which are the poorer and more "unsuccessful" parts of Europe that no one cares about... not to mention the fascist, nationalist and racist attitudes that western europeans have.
1st world is overrated and getting margin called, second world is where it's at.