Avoid This Country At All Costs
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- Опубліковано 5 жов 2022
- The Country you need to avoid as a wealthy individual, Republic of Georgia.
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SOURCES and RESEARCH:
CRS Reporting in Georgia: www.oecd.org/tax/transparency...
Georgia Sourced Income Analysis: expathub.ge/foreign-income-ge...
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In this video we talk about the Republic of Georgia, the country that is highly promoted by large companies in the offshore industry as the best place to start an offshore company, do crypto banking, and pay lower taxes. I explain the many reasons why Georgia is a terrible place for wealthy people, and which countries to choose instead of Georgia.
The Republic of Georgia is a beautiful country with amazing nature, but it's not a place you should consider if you want more freedom and happiness in your life as high net worth individuals. We consider other places like Dubai, UAE or Portugal as much better options. Careful with companies out there selling you a dream, do the proper research.
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Other related people in this topic:
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DISCLAIMER: This video is not tax and/or financial advice. Any information or advice I give is purely based on my own experience and research. I am not a tax professional and/or lawyer and/or accountant so I am not liable for any steps you take to lower your taxes. I'm not a financial advisor nor do I pretend to be. Always do your own research.
I had a complete different story, I spent a month in Georgia and enjoyed a lot. Was very safe , cheap as f... Nice coffee places and restaurants with amazing food. Agree though about the complex geopolitically location they have , a bit risky at the moment.
Your experience is based on travelling perspective. A cheap cost of living is not the ultimate reason to move to Georgia.
@@krotsin of course, I mentioned the price coz it's always positive, but beyond that I had a great time there . People is friendly and very helpful since it's not as touristic as other countries in the region. I'd come back for sure!
I’m thinking of visiting Georgia in January from America. Can you explain a little more of what the risks could be? Is Russia thinking of invading there too? Does Putin think Georgia is supposed to be part of Russia?
@@marywilloughby6324 not right now it has Ukraine to handle and u will be safe there don't worry
@@marywilloughby6324 Late to comment here, but if someone has similar question. It's totally safe, the country is visited by 8 million tourists every year (population 3.5 million). Same rules apply, as in every other country, don't do stupid things like driving drunk, drugs, don't flash your money, order taxi by local taxi apps, don't swim during storm in the sea and you'll be just fine :D
Just moved to Georgia for now and it is NOT what I expected at all. It’s proven to me that I can’t trust videos, positive comments, etc about any place, or even products and people.
I expected to enter a beautiful, small country feel, friendly (because everyone seems to say that), clean, and so on, however, we entered a dirty city (Tbilisi), crowded, filled with garbage, graffiti, air pollution, racist people, and what breaks my heart the most, is the number of elderly that beg for money. Shame on any nation that forgets and abandons their elderly. It says a lot about its people!
And No one smiles, no one helps, no one is friendly, and we’ve been here only for less than two weeks.
I’m not black or Chinese or Indian (Because I heard that people here don’t like these nationalities). We’re not blond either. But the racism is so obvious.
And nothing is cheap here. The cost of rent is ridiculous for tiny, old, ugly apartments that face other concrete buildings, and so is purchasing one. I’m not sure why the prices are over the roof for this rundown country 🤔
If we find a better, more affordable, friendlier place in about a year, we will move again. I wanted to call this place home, but I’m not sure I can.
Their COVID-19 policies in these two years are such a turn off too.
I will NOT consider any country/city that has (or might have) forced testing, vaccination, or mask mandate.
I agree with you
For sure!!
I didn’t know this, wow that sucks
Big turn off
So basically most countries then?
Not sure what you mean by forced vaccination. Are you saying get it, or what was the consequences?
Most countries had mask requirements and testing for a while some were certainly worse than others, though.
@@GaryAJMartinSerbia dropped them within a MONTH after they were implemented shwabb their citizens stormed the government building.
What a bold and honest immigration review. Very rare
Do you have any info on South Africa?? Especially cape Town. Love your videos btw.
Is it expected that the Caribbean countries that have citizenship by investment programs lose the advantage of accessing the Schengen countries without a visa, as happened with Vanuatu? And when will the European Commission re-activate the visa exemption agreement between it and Vanuatu again?
Does Dubai and India Share info through CRS?
If I want to invest in Dubai real estate and international stocks, will I get taxed the corporate rate for holding these assets in a holding company?
Could you make a video on Malaysia? Visas, taxes, lifestyle etc.
True 👍its sad also the government of georgia and courts are questionable
Any info on the Maldives, I’d love to see your take on it
Cheers
Rafael. I'd love to see a residence visa / tax planning video for The Seychelles.
Great idea I've been to the Seychelles and it's amazing
Thanks quite useful. Was in Tbilisi a few years ago (flew from Turkey) and loved it, but tbh didn't drive around on my own ..
what about portugal? specifically lisbon and porto, would love a comparative video about that with dubai
Less developed but it's still a beautiful place to invest and far away from the conflict, still a big fan of Portugal
@@WealthyExpat thank you
Omg you’re so funny 😂 yes you should do America next, I can’t wait to move to Dubai :)
I got offered a job there recently and had to pass on it. While the pay was insane given the actual average income there, I still didn't want to make it home. Holding out for Portugal.
What kind of job did they offer you?
U are absolutely right💯
Thank you !!
I lived in Georgia to start my IT business - while I found success there and I found my fiancée there Georgia is an extremely racist country and I had to deal with racism on a daily basis. We eventually left because of that. All love for my second home - it gave me my fiancée and my Georgian family. I will however stay away from it for now. It is my best friend and it is my home - but unfortunately my home does not love me back - I will always have love for it and I will always want to breathe Georgian air.
Sorry to hear that
Where are you from, if I may ask?
@@xxbryanxx60 I’m a Copt
@@Videokers1234 never heard that. Copt? Ah. I see. Egyptian.
I was curious what kind of racism? Cultural? Or more like what they have in the US? (More defined by color.)
@@GaryAJMartin Copts are indigenous Egypts that lived in Egypt before the Islamic invasion - we are Christians and Jews.
To be honest it’s all kinds of racism - I had a Nazi sign painted on the wall infront of my business - they said “to be white is to be right” then big red words that wrote “death”
I’ve been discriminated in all types of ways - by so many people. It is most harmful when it comes from people in authority like cops and bank officials.
Georgia has a problem - it hurts my soul that this is the reality
Thanks for the warning about Georgia being a racist country.
I've been to Georgia 2x. The first time, we had a great time. The second time, not so much. Yes, Tbilisi is inexpensive with unique architecture but there's also a ton of traffic, pollution and not much to do.
I really enjoyed Batumi though. If I were to live in Georgia then I'd live in Batumi.
Thanks for sharing. I guess Tbilisi has some very amazing sights the first time, and then you get accustomed to the unique details?
I feel this way about Plovdiv in Bulgaria, although I continue to enjoy the nice climate. Winter kinda sucks though.
I,m born in Georgia and live in Georgia 🇬🇪
Absolutely true!
Thank you for commenting!
Just like I commented about George a while ago in one of your videos it’s not the country where you want to settle in. There is a difference between travelling and living
How long do you recommend being there for
Nice video, that Hemderson guy goes on pushing and promoting, I guess he probably has some incentive into coning people into getting a Gerorgian passport
Georgia is EXTREMELY overrated now. It was great 15 years ago, but now that it is heavily promoted as an expat destination, the locals resent foreigners and it has gone down. The sophisticated middle class has gone abroad, and villagers have replaced them in Tbilisi. The one upside is Americans and some other nationalities can stay visa-free for about 365 days.
Did you steal their tears? 🤣
ROFLOL!!! No one else gets the reference.
@@ndyaarthurmartha8748 🙂
These past few days watching my portfolio decline is very disheartening. Holding doesn't really profit much, any idea how on how to earn better on the short run?
The market is profitable, but it depends on how you go about it.
From what I have Experienced. Newbies who are not aware of how crypto works and wish to make a profit from it..I'll advice you Invest with a professional like expert Paul Assigned by a trading company. it helps minimize the possibilities of losses.
People mostly think that investing in crypto is all about holding until it raises, but the real truth is it take time and it's a gamble at the end of the day. The recent crash will give you an ideal of how things are at the moment
I agree with you... despite all my research and investigation into coins before, the most I've made from crypto is by trading with Expert Paul
Please how do I reach him. I'm really interested, I guess is only risky not to try his method out.
Is georgia the next ukraine?
Dubai is beduoin nation with oil,hardly any natives
Who is this dude who has no clue?
is georgia still giving high interest on bank deposit base on their local currency georgian lari?
Armenia does.