Bulgaria is fantastic. I am hoping to retire there. Class D visa should be obtainable for me because pension. Comparing Dubai to Sofia is just so wrong. Those 24 hour gyms? Not a draw, a nice walk around Sofia is more to my liking.
Comparing them isn't wrong for him but it might be for you, it all depends on your values and priorities. De gustibus non est disputandum. If you like it there, go for it, hope it works out for you and that you have a wonderful retirement!
Lived here in Bulgaria since 2018 (from the USA). Learning Bulgarian changes the experience. Also Bulgaria has much higher quality of food where as Dubai must import everything. Another great thing about Bulgaria is the low amount of violent crime.
Dubai is 3 months of summer and 9 months of hell. I prefer cooler summer weather and plenty of trees. Planning to move to Sofia from Bucharest next year for this reason...I like Romania but any place that has a whole month over 35 each summer isn't for me long term.
I would imagine learning Bulgarian would help a lot and if I thought it was my top place aside from that I'd learn it but it's not and the language is sufficiently obscure not to prioritize it. I strongly disagree re quality of food. Bulgaria has decent mid range food but not high end, the quality of beef for example is the worst I've found anywhere in the world. Locally produced fruits and vegetables are decent during the growing season but that's quite limited for selection. Want sushi in Bulgaria it's mediocre, Thai options limited, Indian options limited, French or Spanish or Mexican options limited. Dubai is far from the best in the world for food but you can get practically anything there and there's tons of really excellent food. Bulgaria is indeed quite safe but Dubai makes it look dangerous by comparison the crime is virtually non existent
If you prefer cooler weather and lots of trees yes Dubai isn't for you though the 3 & 9 months is an exaggeration I find it's quite good for about 7-8 months per year then again I'm happy with it being warm
@@OffshoreCitizen I live in East Bulgaria and away from Sofia in a smaller town. GMO is banned here, as well as various other products that are legal in the west. The yogurt and cheese here are the best in the world, and yeah if you're looking for foreign food, of course it isn't going to be good. You're in Bulgaria! Eat Bulgarian food, they know how to make it the best. Schkemba ciorba, tarator, sach, etc. The fruits and vegetables are also fresh and usually produced locally if you eat seasonal (more meats in the winter and preserved food). Real high end food is natural and not processed. I guarantee you in Dubai they do not do the same checks as the EU for freshness. I won't disagree about steaks in Bulgaria if that's your thing, but it never has been historically a part of their cuisine. Much more pork, lamb, and chicken. As for Bulgarian, I learned Russian which helped me with Bulgarian and Bulgarian helps with Russian. Lots of Russians in Dubai.....good luck there by the way
Just a comment regarding the weather. Sofia is at high elevations ~ 600 meters. It's a mountainous city. Plovdiv, the second largest city and a cultural capital, and Burgas, the 4th largest city, both feature a humid subtropical climate. Literally, all of Southern Bulgaria's lowlands feature either a Mediterranean (Primorsko/Sandanski) or Humid Subtropical climate. You can find wild olives, pomegranate, palm trees and kiwis growing outside w/o any winter protection. 2200-2800 annual sunshine hours. That's not cold. So the author has a rather limited understanding of Bulgaria; his views are only based on living in Sofia. This is like saying - America is cold because New York has bad weather.
You totally lost me at 'Bulgaria is cold'. Bulgarian weather is basically the same as Spanish weather, just on the south-eastern part of the continent. Enjoying a nice, refreshing Mojito while typing this comment btw. It's October 14 and the temperature outside is about 27 degrees Celsius.
I really disliked Sofia. I was there only 5 days. People were very aggressive and rude. Customer service does not exist. I was approached by prostitutes several times.( I’m 70!) I would never return. They are still recovering from Soviet mentality.
I just moved to Bansko, Bulgaria. Really enjoying it so far. Since it's a small ski town plenty of English speakers here. Made sense for me as already an EU citizen and love hiking and the outdoors too!
Great choice, I'm living in Plovdiv, but planning to check out Bansko come spring. Plovdiv has some nice in-city hiking, but the mountains are a bit far away for my taste (about 10 km). I may get a bicycle though, which should do wonders as far as closing the gap between me and the mountains for quick hikes.
@@Scolopente I am Swiss.... So I liked very much to watch several videos about Bansko! BUT the negative point is that in 2025 Bulgaria is going to enter in the EU !!! So stupid to like beeing part of the EU ! Just the hell and getting from bad to worse and worse !
@@entresolysombra5245 I just came back from Bansko and Bania. Great places, but I agree with you on the EU comment. Nothing good will come out of the USSR 2.0
I met a load of Peace Corps Americans way back in Bulgaria and it was very clear that they were a square peg in a round hole,all of them....... another thing I would say is like most capital cities Sofia is a little different to the rest of BG. Each to their own, for me Dubai is the last place I would ever want to visit never mind live, but thats the beauty of our realm.
It's amazing how people describe the rich Gulf countries as "a great place to live". These countries are governed by theocracies, and their laws are medieval. Especially for women.
I'd encourage you to actually spend time rather than judging by media narratives. What you're describing is simply not the factual on the ground reality
So I am a Bulgarian and judging by the title was curious to understand if this was going to be one of those trash-talking videos about our country. Turned out it's quite a positive video and mentioning some of the benefits that we have living here is great! Surely, not ideal, there are no ideal or perfect places despite you having mentioned such. I've traveled around and have lived abroad in Slovakia and do not consider relocating anytime soon. Not for the moment, at least. Home is a dear place.
I was in Dubai for business ....but that is definitely a place I wouldn't like to live, the same with London /UK/.. . Bulgaria in my opinion is absolutely the opposite.❤
I often hear people say....'you want to live there, but what about....insert someone else's projection here......' I agree with you that there is no perfect place and I'm pursuing the path of less than perfect places that all add up to a good life.
It is great that you have found the place to develop your endeavours. But, honestly, switching from Bulgaria to Dubai suggest a very high level of randomness in your choice. I cannot even think of business opportunities overlap between the 2 countries.
@@OffshoreCitizen I just don't get how you can handle the Dubai weather. But if you're traveling a lot, then I get it. I mean, it hits 47 'C sometimes in summer. Imagine the AC costs if electricity costs increase.
Interesting post. Personally I'd take Bulgaria over UAE anyday. I like seasons and nature. To be able to buy groceries or run on a treadmill at 3am doesn't appeal!! Dubai is too bling bling for me I prefer my brutalist architecture!
Dubai is a downgrade in terms of quality of life. Horribly planned city, dust and air pollution, extreme heat, no citizenship or permanent residency, dubious legal system and protections. You are always a second class citizen to a local.
Some fair points. The city is actually not too bad in terms of planning. I was back this year for the first time in 4 years and the roads were noticeably busier, so it is starting to show a little in terms of infrastructure challenges. On the plus side, the roads are MUCH better quality than almost anywhere else on earth. Weather is great 8 months a year and truthfully most people with the $$ leave for the other 4 months. Fortunately it is summer in the northern hemisphere during those 4 months, so there is no end of choices on where to go. The legal system concerns are a little overblown. There were some high profile cases in the past that highlighted a rather draconian approach. If you're living your life with integrity and honesty, there is little to be worried about. The upside is that I can stroll down any street at 3:00AM, wearing a $50,000 watch, and nothing bad is going to happen. Try that in the U.S. or Europe. As for being second class, true. I notice it when I'm there. It is one of the reasons I would probably not choose to live there year-round. Nowadays though, there are so many people from around the world, that it is becoming less and less of a thing. You seldom even interact with locals as they are such a small minority of the population.
Really. Dubai seems to be a weird place to me - foreign workers doing all the work, pockets of religious extremism, no drinking. Also, I think if you were a woman, you might re-think UAE..
I've never noticed being treated like or feeling like a second class citizen. Actually quite the opposite as I've described in other videos in Dubai I feel like a customer they want my business whereas in places like Europe and North America you're a resource to be exploited
I lived in Ukraine and Poland on around $1600 per month total. Then considered Moldova or Romania, and before that, an income visa in Spain. Now I'm in California spending 7 times as much😮
loved the way how you put it from all angels. I went through the same thought process and moved from UAE to turkey. but my circumstances are different. Good luck in Dubai.
Thanks for your reply. I am in Gaziosmanpasa area. I moved to turkey bus of better quality and less commercial med care. In Dubai you can't afford to get sick, I am 61. Worked 16 years in Dubai, now retired.
@lorenk.775 Deutschland, not Germany, not Almanya. أردن (Urdun), not Jordan. Россия ( Raseeya), not Russia, Sverige, not Sweden, der Schweiz, not Switzerland, Suomi, not Finland..... if we start that stupid game, where are we gonna end up?! So, yeah, Turkey. But you guys can call it whatever you like calling it.
I also think there is no ideal one place for everything. That's an industrial age idea. There is nothing stopping you from getting your fries from McDonald's, your burger from Burger King, and the shake from Wendy's. We live in a kind of à la carte world
This particular vlog He is rather amusing to me because I'm a senior and getting married to a European who exactly wants more freedom and flexibility in moving and setting up a local business. I actually wanted to consult with you in this regard. I'm managing some transitional details first. Thanks for all your videos. An American...
Man, stay in your Dubai!! Dubai: A big desert, no environment, huge buildings.. is that the dream life? Life is not only a business, beef and sushi! My opinion...So enjoy your life in Dubai! Obviously you don't know anything about my country!
I'm living in Sofia as we speak. Loads of pros and cons. But compared with rest of Europe, Bulgaria is still cheap which makes the country quite attractive. The weather could be better, I agree.
@@Chris-gs7cq Well, Sofia is surrounded by the huge Vitosha mountain and hence being cooler and you can escape there in 15min as it is a really cool place. Sofia also has huge parks that even in the summer you can always seek the shade within a short walk. South Park is definitely one of the best and not so far away from the city centre. Sofia is also not far from the Greek Sea and less than 4 hours to the Black Sea and around 7 hours to Istanbul. So there is a huge variety. Bucharest though has nicer architecture and feels much more urban. Sofia is more chilled and relaxed. In general, if you plan to move to Sofia always look at the southern neighbourhoods as they are more developed. Finally, Sofia has a really good metro system and ridiculously cheap. Trip from the airport to any place in Sofia is 0,80€.
No reason one could not stay in Dubai indefinitely. The golden visa is renewable every 10 years if you have the $$ requirements nailed down (RE investment). If you enjoy the lifestyle there, easy choice. But even if your tastes change and you want something a little more laid-back, having Dubai as your tax home might be well worth considering at any age. Even if you're retired, that investment portfolio/pension is going to be taxable in most places.
Freshly those are problems best not considered today. I never intend to retire and the world will change so much by then it's a fool's errand to try to predict what it will look like by then or if it will even be around. 30 years ago no one would have considered Dubai at all today it's one of the greatest cities in earth. What is coming that you can't see? The best path is to invest in optionality and be flexible
@@OffshoreCitizen Thanks for the reply, but at least we need one country where we can settle permanently, what will be your preference in that case, considering forex & crypto as your main source of income?
@@gauravpatil1867 He already answered your question according to his preference on life. You repeating your preference and question is irritating and achieves nothing. Learn to listen!
A very interesting video Michael as the Dubai / Balkan combo is what a lot of us europeans gravitate towards if we dont have the millions to play the monaco game. Looks very much like Dubai is the go to 'hub' where we can establish a home for 3 to 8 months of the year and then divide up the other time by carefully avoiding triggering residency in other european countries and not getting burned to a crisp in summer. I visited Bulgaria 20 years ago when it was still emerging. one of the first memories I had was one seeing a middle age woman crouch and take a dump in a central Sofia park bush. The hotel we stayed in at the time had a strip club on the top floor, on the second day the elevators went out of service and we have a 9 floor walk up to our rooms. we also took a road trip through the 'valley of the roses' and the road was so bad we broke one of the wheels of our van. I am sure it has improved vastly in the last 20 years but I have fond memories from back then.
Ya, people don't take shits in the street here, nor did they 20/30 years ago. I have a story about a crackhead woman that was squirting breast milk at people at a mall in Toronto, and plenty of other stories about sketchy hotels and sketchy people. Plain and simply, you stayed at a dump and ran into a crazy person, not very relevant to the conversation at large.
What is so "very interesting" about this video? He mostly kept saying things like (paraphrasing) "choose what you like the most", "some people don't speak English", and inconsequential remarks about his marital situation. The fact that his bare statements Bulgaria remind you of your pleasant experience there doesn't render this video interesting, let alone thoughtful.
A small correction, Bulgaria being part of EU means English is supposed to be the 2nd official language there, as reflected in the banks you went later on, therefore you don't necessarily need to learn the local language there or any other part of EU, though in some countries they don't prefer the English there and prefer foreigners learn the local language, such as in most of Italy and some parts of France.
There's no EU member which officially speaks english language as native. So the first second language of bulgarians should be american, not english. And the second second - russian of course. Unless if you are from this minority (1/6 of entire population) speaking turkish. Which is different from the turkish in Turkey.. At least we have google translate and middle fingers.
@@OffshoreCitizen learning another language is not as easy as some people think, perhaps in a very basic level with confident facial expressions, which will work primarily for the purpose of trying to impress a girlfriend with worldliness and intelligence, however it works poorly for communication
I would like to know about the real estate and how the country is for real estate investing. I am getting a citizenship by descent. I don’t know how long that’s going to take but I’ve been meeting other people that live in Bulgaria and possibly maybe even doing business with them before I even get there. Thank you for the insightful information truly appreciated.
I am Bulgarian living in the UK. Being a foreigner in Bulgaria, you better stay in one of the bigger cities, like Plovdiv, Varna, Burgas, or Sofia. Not because you must live in a city, but for practical reasons, like having social life, having other expats around available, having somebody to translate and interpret for you in formal cases, having libraries, theatres, restaurants, etc. Small villages do have charm and appeal, but you will be starved socially, and probably will be helpless if you need translation services. Do not underestimate that as a foreigner, you will have low availability of jobs suitable for your soft skills.
I'm in Plovdiv, Bulgaria now, as usual. Winter is about to hit, thinking about exploring somewhere. But it's still 1000x nicer than Norwegian winter. The great thing about Plovdiv is very little wind, and a couple of decades warmer than Sofia. Rain is really rare. Weather-wise it's almost a 10/10 all year. I'd say a 6/10 in winter, but still one of the mildest places to experience 0'C or lower in the world. I'm glad I'm not in Varna this autumn/winter, what with their Norwegian wind speed.
On 30 December 2023, the Council unanimously agreed on the accession of Bulgaria and Romania to the Schengen area. Thus, as of 31 March 2024, both Member States will start applying Schengen rules.
If the system was functioning so well we also wouldn't have those benefits that businessmen choose Bulgaria for in the first place. I am seeing a lot of negativity in the comments especially about the language. Well we are also not having the easiest time learning english but we are doing it for our own benefit. Talk to any 20-something year old in Sofia and you'll be able to communicate in egl, of course it's rare for people in their 40s or 50s. Go to France and try not speaking a word of french there for years. I think many of the commenters just don't like how bulgarian sounds so they don't want to invest time in it which is fine but then ofc bulgarins won't want to invest tine in alking to you. I am getting the impression foreigners want us to kneel for them, provide them better infrastructure but keep being poor so prices are low.
You have a point there. Lots of young people can speak English. I believe that lots of foreigners would like to learn Bulgarian, especially if they want to stay in Bulgaria long term but it’s a very difficult language to learn (unless you already speak a similar language such as Serbian or Russian). And yes, Bulgaria is a business friendly country which attracts entrepreneurs from all over Europe and further. Every country has positives and negatives it’s up to the individual to decide what matters to them and choose accordingly
Hey Michael, I like your perspective on this. I agree that convenience and ease of life are major concerns when choosing a location. Language can be a huge barrier and drastically affect your experience. Coming from an English background, I think I would only want places that have a decent amount of English speakers. Of course, not for everyone, but thats just me. Having said that, what are your thoughts on Saudi? They seem to be really easing on the rules and becoming more like Dubai. Still a ways away, but moving in the right direction. They certainly have the financial horsepower to achieve incredible things similar to Dubai.
Saudi is apparently an incredible place to make money right now so clients tell me. Some really cool tourist spots too. I can't figure out why anyone would live there over Dubai yet though. Same with Qatar and Bahrain both impressive places but lagging behind UAE by 5-10 years
As a south African I want to immigrate to the middle east Do you think working towards a uk/irish (plus non dom) passport is a good decision before moving to the middle east?
with a UK/Irish passport you will be positively differentiated in the middle east compared to a lower grade passport holder, so 100% go for it (e.g. better salary for same job, just because you have Anglo-Saxon passport)
I setup a company and Bulgaria and I kind of regret it. After several trips there, I have decided I don’t want to live there, and getting residency as an American is a pain. Without residency, my company cannot easily use revolut or Google Ads. Without residency, the border guards ask me a bunch of questions every time I go through passport control. Bulgaria doesn’t have a totalization agreement with the US, unlike Romania or Czech Republic. My Bulgarian bank has a tedious website and requires me to carry an Android phone to authorize CC payments. They cannot send SMSs to foreign phone numbers and they are missing an app on iOS. I struggled to hire good IT people there which maybe was just bad luck. I found it easier to hire good people in other countries. There are definitely good things about Bulgaria but for me, it’s not my forever place.
Hmm which bank were you using? Generally I'd avoid sms as a 2FA method vs email or an app but the banks I've used have iOS and Android apps The talent pool isn't very deep but depends what you're looking for, costs tend to be pretty good
@@OffshoreCitizen Raiffeisen which became KBC which became UBB. You can confirm wires using their Token app on iOS, but you cannot confirm credit card transactions. For CC, they send an SMS. But the SMS only works for Bulgarian numbers. Prepaid Bulgarian SIM cards don’t work outside of Bulgaria, and I refuse to get a postpaid SIM for the sole purpose of confirming CC transactions. On Android, the bank has an app called DigiPay which can confirm CC transactions. On iOS this app does not exist (not from the same bank). I asked why there’s no app for this on iOS. They said it’s because they support Apple Pay instead. But most online retailers don’t accept Apple Pay. So I’m forced to carry around an old Android phone. I agree, costs in Bulgaria are pretty good!
If you are able to change banks and want to do so, DSK Banka supports foreign phone numbers, at least they support Norwegian ones. However, I don't know if they have proper 2FA - I'm just using SMS. But it's OK for me, because I mostly use Revolut and such.
My dude, everywhere you go for a living, you need at least to try to learn the local language. Even by saying some basic phrases like "zdrasti" change the experience and open closed doors. I currently live with a Polish lady who refuses to learn Bulgarian and she lives here for 7 years now and she's constantly complaining that she has inconveniences and that everything here sucks but she refuses to learn the language or integrate into the society. Well...I can't help a person who doesn't want to be helped. For context, I used to live in Croatia, Greece, Slovakia and Czechia and always tried to learn some of the local languages. I went specifically to Greece to learn the language because I'm an hellenophile but that's a different story. Good luck in your journey and maybe you will be back in the future, who knows.
Why does your lady refuse to learn the local language? To refuse it after living there for 7 years doesn’t seem right. How can anyone enjoy living in a country without even making an effort to understand and learn the local language at some point…. 🧐🧐
@@sallygoldfinger she's not "my lady", we are just friends who live together but I agree with you. I asked her couple of times why she is refusing to learn the language and she just doesn't want to do it. Basically she puts borders on herself and is unhappy because she doesn't have any other Bulgarian friends besides me. She is just staying in her Polish bubble for years now and I personally find this odd. And I told her that. I can't learn Bulgarian for her, she needs to make some efforts too. She understands some of it because she is Polish and her language is kinda close to Bulgarian but not so much. She doesn't make any efforts of learning how to speak the language tho. Or at least try.
I traveled to Sofia and other parts of Bulgaria. If you speak a little conversational Bulgarian with good pronunciation they will think you are an immigrant without the respect to fully learn the language and judge you for it. If you only speak English they will think you are a somewhat rare tourist and treat you well (meaning normally). Many people are easily irritated by foreigners for no reason.
Bulgaria and Sofia airport is dreadful for European flight connections. Ive lived hear for the last 8 years and trying to meet friends from uk elsewhere in Europe is a constant headache meaning id usually need connecting flights There is a lot more high end apartment buildings now but unless you earn €100k after tax or have €600k cash you cant afford to live there
Hi Michael, I do remember your Bulgaria trade representative visa experience video you shared a few years back, where you mentioned that you can help also with finding the required active company which is mandatory for a trade representative visa. Is that offer still available? Cheers 🍻
I'm in Sofia right now.. I have spent this whole summer exploring places to live and doing research in Greece, Spain and Portugal.. I thought Spain would be it because of the South's good all year round weather and the fact I know a lot of Spanish, but their tax policies are sooo bad, and Spain can be boring.. Bulgaria was the last place on my list.. Thing are a lot easier as a couple I think, then a single guy moving somewhere... but what I can say, language barriers are tough over time. I may go back to the U.S., or live somewhere like Canada because not having language barriers is really great, people take language for granted. Not everyone can learn a language like Bulgarian or want to put the time in.. Just yesterday someone was trying to teach me "Thank You" and it was so hard I just lost it and said it sounded like Chinese and started to make fun of the word.. You will always be an outsider, and not many people actually know English well in Bulgaria.. I would love to live somewhere so affordable and have the freedom it brings, but looking back after 5, 10 plus years here, would I regret it? I think so..
I was in Bulgaria when I started my online company, which is still registered there. For living: Try out the baltics. EVERYONE speaks perfect English which improves social life so much. You might of course have to go more south during winters.
why did you choose Bulgaria instead of Romania? Lol. Much easier language, bigger country, has mountains & sea side. Taxes were/are still pretty good. People are warm and women are beautiful :)
First! And welcome back; been wondering where you were - I hope all is well. Having now watched the first 6 minutes, I have a question. As I consider moving overseas, it seems that we have "too much stuff" (a not uncommon American phenomenon) - even with realizing that a significant portion of it will not come...how do you deal with that? (For example, I have more than a few musical instruments.) Do you just keep your computer and some clothes and move to various places? Keep in mind also that I am nowhere near the financial strata where you are (major props to you), so that is a factor...but I would think this is a question that applies to one degree or another to many people.
@@OffshoreCitizen Having now watched the first 6 minutes, I have a question. As I consider moving overseas, it seems that we have "too much stuff" (a not uncommon American phenomenon) - even with realizing that a significant portion of it will not come...how do you deal with that? (For example, I have more than a few musical instruments.) Do you just keep your computer and some clothes and move to various places? Keep in mind also that I am nowhere near the financial strata where you are (major props to you), so that is a factor...but I would think this is a question that applies to one degree or another to many people.
Not in the least I think Dubai is far better for that than most. It's already hot so everything is set up to deal with it, there's no tropical storms, no forest fires it makes zero difference if it's a degree or two hotter I find the biggest nuisance although hard to ascribe causality to climate change or not are forest fires in certain parts of the world so I'm quite happy to be in areas where that's not a concern
I think for most people it's less liveable due to weather. Appealing for people from UK who want to be close to London but doesn't offer a lot domestically If you're gong to consider Isle of Man should also consider Jersey
So what are your other places Michael? I am thinking of a trifecta approach for myself. I want to get out of the Canadian tax net, more and more every day when I see how stupidly the money is used. I will have business interests here, so not being on the other side of the world year-round would certainly be helpful. Not just the long flights but the time difference might get old fast. My working plan is Dubai from mid-October to March 1. Puerto Vallarta for March, April, and May. 10 days of travel at the start of June (Japan/North America), then Vancouver for their summer. That keeps a little bit of time in the home country. Then September 1st to mid-October would be various destinations in Europe. So much to see there. The weather is still good in Europe, but not oppressively hot. The crowds are thinning. Great time to explore Europe before heading back to Dubai to start the cycle again. With Dubai's newer 90 day approach to tax residency, that should sort out a large part of the tax problem. The inclusion of Mexico is to ensure easy access to Canada for business reasons without getting the CRA re-involved in my life (staying well under the 6 months). The weather outcome is nearly ideal year-round with plenty of sunshine and not too crazy hot temps. I have never seen the point of living somewhere that one needs to be hermetically sealed in an air conditioned room. To me that is only a slight upgrade from a similar room in a Canadian winter where we have the heat on. I love to have the windows open when I'm working at the computer, or better yet, be outside. Can't imagine that working out well in Dubai in July. Anyway, let's hope the world stays sane long enough to finish pulling the plan together!
Keep in mind being tax resident in Dubai doesn't make you non resident anywhere else especially Canada given it's essentially impossible to have the Canada UAE tax treaty apply. This being said if you're careful to severe your ties to Canada it could be fine. I tend to like Europe in the summers lots of great places there. Travel to Canada and US to see friends and family, then trips throughout the year to other areas especially time in Asia.
@@OffshoreCitizen Yes, good point. I will make sure to tick the boxes so as to leave no doubt that Dubai residency is solid. The plan is to set up a Dubai off-shore corp, then contract it to the Canadian corp. Within the confines of transfer pricing regulations of course. Any profits that remain in the Canadian corp (that cannot be shifted to the Dubai corp) will just have to go as salary and bonuses. Should bring the profit of the Canadian corp down to zero. The 25% withholding taxes on personal income will be my only contribution to the Canadian regime. At least a portion of the whole thing will be tax-free, and of course tax-free future investment gains on the money once liberated from the CRA's grasp. Can't see any way to fully shield the income generated in Canada as I would be deemed to have a PE in Canada. Not a zero percent tax rate, but when all is said and done, hopefully ~10%. Perhaps I will reach out next year and see if you have any thoughts once I've pulled together a more definite plan.
That was a very interesting post. I'm also Canadian, and I left about 13 years ago mainly because of the high tax, the terrible weather, and the insane difficulty in accessing healthcare. I moved 13 years ago to Israel from Canada and have no tax to pay for the first 10 years, of course that's over now and it's time to go somewhere else with my EU passport. Healthcare though is really excellent here, you're able to get the best of health care able to see professors in a day or two under the private system and access major operations within a week or two. Some people in Canada are waiting three four and five years for back surgery, and now they have to leave the country and pay a couple of hundred thousand USD to get an operation in the states are perhaps maybe a little cheaper to go to Europe. I know in the hospital I was at in Israel there was an awful lot of foreign residents mostly from Ukraine and Russia who came for back surgery. They would keep them in the hospital for 13 days just to make sure everything was okay and then they would whisk them off back to their home country and communicate on WhatsApp if there were any issues. You know when you're sitting in a country like Canada freezing your balls off, and paying 54% tax, you have to wonder is there a better way? You may want to analyze the rules on transfer pricing. They have become very onerous of late, and you will have severe difficulty in convincing cra that there is a bonafide operation enabling you to do transfer pricing. Even major corporations like Google that put their IP in Ireland to pay 4% tax and income and charge all the subsidiaries licensing now have to pay local taxes on their operations in each individual country. Of course that was too well enable the oecd to collect more taxes. But when you get an audit, they can really be brutal. Keep that in mind.
3:23: (nazi) Canda is not an option anymore, Bulgaria is very underrated unfortunately, Dubai is more tax friendly I think and more opportunities…..Dubai is my next place where I gonna live….
Im also in the same situation living in Bulgaria for since 2021, but going to UEA and pay 9 procent in any situation now will not make me wanna move to it.. when it was still 0 procent it crossed my mind allot.
I think Italy is outstanding for part of the year though don't get into their tax net I really like Dubai it offers a great life I'd like to get a beach house somewhere but haven't decided where yet. I've always had this view that I'd like a place in a great city, an estate somewhere more peaceful and a beach house. I find more and more it's appealing to be able to bring friends and family to a great place and spend time with them so that's a major consideration
@@OffshoreCitizen I couldn't agree more. Italy makes for a great hub in Europe. It's well-located making it easy to road trip to many destinations. Mountains and sea just a few hours between each other if even that. I too am looking for that beach place, so let us know when you find it!
@@OffshoreCitizen I wish you'd talk about "surviving the desert" in Dubai. I could not even see myself visiting Dubai except for winter. I can handle 34-ish 'C with no issues, but 40 'C is not gonna get me to climb even a hill (I considered doing so in Plovdiv, but decided not to)
We want to travel the world and we are not sure where to start as we do have 2 small dogs and own our own online business. Maybe Bulgaria would be a good place to start? How is the healthcare system there along with cost.
Why i left Bulgaria. Five mins in and I've been told his name multiple times. He told me about his wife and loads of lame info about his life that nobody wants to know. Hes told me about other counties and why i might want to live in those places, but nothing about leaving Bulgaria Lay off the Ritalin and stimulants, you cant get a sentence out your mouth with out slurring. You start the next sentence before youve got the last one out your mouth. Your all over the place. I think your wife was looking for different countries to get away from you 😂 Sorry but 5 mins listerning to you was 4mins 55 seconds too many for me. I think you gave me ADHD.
Michael, why don't you and others feel any concern about Dubai as a location in the nexus of a potential warzone involving the US and Russia in the Gulf, Iran and Shite rebellion, Israel and Iran. It strikes me as a fragile situation....
Where in the world isn't fragile right now though? Asia has all kinds of potential problems areas... the Korean Peninsula, as well anywhere that China thinks they have a right to. HK, not great. Japan, could be problematic. Just about every 3rd world country in the region is a potential target of Chinese power. Singapore will likely remain neutral. Malaysia and Thailand are powerful enough to resist hard power from China, but certainly not soft power. I would lump Australia in to that as well. Africa... nuff' said. Europe and North America might be the last places you want to be if things continue to escalate between Russia and Nato. I think that the monied folks who are flocking to Dubai will ensure that their global influence keeps Dubai a no-go zone for open and damaging conflict. The conflict might rage all around you, but... It is one of the few places I would actually bet on right now. That and South America, but I think I might prefer nuclear annihilation to being bored to death.
Life decisions are a series of trade offs. You're also balancing risks with certainties. Is there a chance you could see war affect Dubai? Certainly, we hope not and if things were escalating a lot I'm in the privileged position of having lots of places I can go accordingly but I actually think the risks there are the lowest they've been in a long time and risks have of course risen in some other areas. By contrast I've got certainties in many places like bureaucracy, tax, networking, conveniences, etc. So how do you balance those certainies with possibilities? I think choose the place that suits you best today and keep back up plans. Right now by many measures Dubai is the best place in the world for people looking for what I am. I wouldn't have all my eggs in one basket and I'd shift if the balance changes.
@@OffshoreCitizen Right now I'm sitting in Calgary just relocated in an Airbnb from NY. I take note of all your points, but just feel that the middle east is not a stable place as a choice, nor anywhere in Europe either. My favorite choices would be Panama, Costa Rica and Ecuador. Paraguay would probably be even better. I can't take the high heat and humidity, and can't imagine living in Dubai or anywhere around that region.
you should do a deep dive on Saudi & Bahrain before 'the other guy' does lol. I have heard Bahrain is a sleeper with cheap property options ready to boom.
It's becoming more popular but few people actually want to live there There's lots of places you can go with low costs the question is do you want to live there?
I lived in Bulgaria for past two years and all I can say is: complete shit show. 1. Bureaucracy: Bulgaria's bureaucratic processes can be complex and time-consuming. Obtaining permits, licenses, and dealing with government agencies may involve significant paperwork and delays. 2. Corruption: Bulgaria has struggled with corruption issues in the past, which can affect business operations. It is important to be aware of this and take necessary precautions to ensure a transparent and ethical business environment. Certain sectors such as healthcare controlled by mafia meaning government. Infiltrating market is a complete joke if you dont have connections. 3. Infrastructure challenges: While Bulgaria has made progress in improving its infrastructure, there are still areas where it lags behind. In some regions, transportation networks and logistics. Infrastructure is broken completely. A lot of new construction sites but no one invests in roads. Shit show 4.Political Instability: country that couldn’t form a parliament for almost two years. 5.Low Taxes: Absolute scam, due to the fact that you will have to constantly pay different service fees, accountants are expensive because of intricate accounting system. 6.Inefficient VAT system List keeps on going further, but all I can say: forget about moving here, sometimes its better to pay higher taxes and live in a system that properly functions.
Dubai offers 100x more in terms of conveniences, lifestyle and networking This is a matter of taste though I value all the stuff that a modern first world city brings, Cyprus is too rural for me to live there but for others it's great. I also don't necessarily view being in the EU as a plus unless it makes it easier to relocate (only for EU citizens) or you can get some kind of permanent status out of it and Cyprus doesn't like to give away their citizenship by naturalization. So it's too each their own. I often suggest Cyprus as an option to clients and some move there though it's much less popular than Portugal etc
As long as your brain demands reason and your butt demands adventure.. I don't know what you want eat your gmo and stay where you came from! Otherwise visit London and have a nice walk and report afterwards how it went with the rolex and if you had any problems. But not only around, Soho ;)
Good information to know, but I have to say, just wait until you get older, and get tired of the pricey"conveniences" of city living. I thought I would live in Los Angeles forever, but glad I got out before their Draconian lockdowns! I now live in the Southeast of USA which is very hot in summers, with short winters, and boy, do I want more cold weather, sweaters, and a fire in the fireplace. Having grown up in the snowy North, I have no problem navigating the slick roads.
Missed bulgaria on the last trip, ut overlal was very unimpressed with Eastern Europe.... Next time in Turkey i'll go and check out Bulgaria though (assuming I don't lose the passport again ahha) Side note... My channel works at editing finance/residency videos for people like yourself... we did a mock up of one of your old videos where you recommended 5 different citizenships. Here it is: ua-cam.com/video/HmPKDvxmLHI/v-deo.html And there's a bunch there for other guys in similar spaces. If you like it, I'd love to talk about how our team might be able to help take your videos to the next level (need to find out a bit more about your business goals first though to see if we would actually be able to help). Feel free to say no, I know you;ve got guys doing some of that now. Just putting out there as an alternative and would love your feedback. Cheers!
Looking at lots of videos of Bulgaria, it looks quite a bleak place. The housing is in terrible condition and the gardens are just a mess as are the roads. The Brits appear to be aiming for the very rugged countryside with roads that are just tracks. Living next door to an abandoned ruin until another Brit arrives on the scene to buy it. I really don't see the appeal. What is the internet connection and phone signal like in the remote villages which is vital for business. What about employment? Folk will be moving to Pripyat next.
So you live where you work. This human made golf terrain is not a nature. According to history Bulgaria is more "forever place" than most of the countries in the world. Guess why. Enjoy the sand and the business.
Too far from reality! Bulgaria is a multidimensional choice, which the flat people (even though well-educated) cannot understand... But I made it for myself!
I like your alien example, but to make it more accurate, put the alien on a budget. As a Canadian, most places that have excellent qualities are now out of the price range for the average person.
I think you should reverse engineer it. Figure out the ideal place you want to live then figure out how to make the money to afford to move there, even be willing to move somewhere cheaper at first to build and get there. I'm fortunate that the cost of a place to live isn't really relevant to my choices at this point in my life but that also took working on it over many years. I think as a general rule the principle in life should be not to settle with your circumstances but rather to figure out how to change your circumstances to maximize your life. This isn't usually fast or easy and some people have a harder time at it than others but you've got one shot at life what are you going to do except give it your all? I never want to die feeling like I could have done better. I'd rather fail trying my best than settle in comfort for less than my potential.
@@OffshoreCitizen Good advice, but it is impossible to retrain or start something new without a considerable investment that is frankly unaffordable for some people, especially later in life when you have responsibilities like family and mortgages. Let's face it, living abroad was never a big thing for people from wealthy countries until life started to become unaffordable for many people living in those countries.
The weather is Bulgaria is very diverse because of the mountains across the country, for example the climate around Sofia is continental which means -Cold , 200 km from Sofia in Plovdiv the climate is sub tropical - mediterian with hot summers and mild winter, and near 200 km from Plovdiv to Varna - and black sea coast the climate is Black sea influenced with mild dry summers and mild humid winters .Talking about Bulgaria in general is very wrong from a geographical perspective
@@OffshoreCitizen that's not true the Plovdiv climate with all its data is a humid subtropical climate (Köppen climate classification Cfa) and it alwasys has been so are all cities around the black sea coast , anyway u shouldnt argue with people who are more competent in this field than u
@@OffshoreCitizen obviously you are slightly mistaken: Bulgarian authorities are not your business partner! They follow the constitution where it clearly said official language is: BULGARIAN!!! As all immigrants in Canada learn French and English as official language, as all foreigner in Bulgaria are expected to obey the constitution and speak the local language!! Hope you understand this as soon as possible or you may make more videos how life is unfair! By the way every European speaks two or three languages, but for our friends across the pond this is eresy. Too difficult, a???
Silly Europeons... I spent a long time learning Japanese, A TON of effort. Think I'm going to spend 10 000 hours learning Bulgarian even tho I may move in 6-12 months, who knows? NO. Yes, most languages are insignificant in a GLOBAL context. Bulgarian is primarily useful IN BULGARIA! Who would've thunk it? Spanish is however an example of a slightly significant language. If you want Bulgarian to become significant, then create a new Bulgarian Empire and I will agree with you when you've conquered a dozen countries. English is 1000x more useful than Bulgarian globally. My language Norwegian is 99,9999% useless outside Norway. Hence why in Japan I was an English teacher and not a Norwegian teacher! Get out of your bubble if you want to make any money at all.
@@OffshoreCitizen I used to find it slightly surprising you were going from Bulgaria to Dubai, but it's been hitting my radar more and more recently, because I realize I'd either want to live in an English-based place or alternatively a Spanish-based place. After all, the ROI of learning Spanish is potentially worth it. Even if I may end up not needing Spanish, it keeps Latin America + Spain + to some extent Portugal open to me. I might start studying Spanish, but Bulgarina is just too much study for a country I see myself staying in for maybe 6 months to 3 years from now on (I I think I gotta get out of that Norwegian tax net before considering living in Dubai).
@@OffshoreCitizen they added and are still adding a lot of stations, so little by little it is the way to travel in Sofia if you want to keep it cheap.
Bulgaria is fantastic. I am hoping to retire there. Class D visa should be obtainable for me because pension. Comparing Dubai to Sofia is just so wrong. Those 24 hour gyms? Not a draw, a nice walk around Sofia is more to my liking.
Comparing them isn't wrong for him but it might be for you, it all depends on your values and priorities. De gustibus non est disputandum. If you like it there, go for it, hope it works out for you and that you have a wonderful retirement!
How much is the minimum required (monthly) pension to become eligible for a retirement visa in Bulgaria?
As a Bulgarian. Bulgaria is not very nice
@@stefan7378 depends on where you go. There's both cheap beautiful places, and absolute dumpster fires in the country, as with any other nation
@@stefan7378 hi, im recently thinking about to move bulgaria. why you think that? can u explain ? thanks
Lived here in Bulgaria since 2018 (from the USA). Learning Bulgarian changes the experience. Also Bulgaria has much higher quality of food where as Dubai must import everything. Another great thing about Bulgaria is the low amount of violent crime.
Dubai is 3 months of summer and 9 months of hell. I prefer cooler summer weather and plenty of trees.
Planning to move to Sofia from Bucharest next year for this reason...I like Romania but any place that has a whole month over 35 each summer isn't for me long term.
I would imagine learning Bulgarian would help a lot and if I thought it was my top place aside from that I'd learn it but it's not and the language is sufficiently obscure not to prioritize it.
I strongly disagree re quality of food. Bulgaria has decent mid range food but not high end, the quality of beef for example is the worst I've found anywhere in the world. Locally produced fruits and vegetables are decent during the growing season but that's quite limited for selection.
Want sushi in Bulgaria it's mediocre, Thai options limited, Indian options limited, French or Spanish or Mexican options limited.
Dubai is far from the best in the world for food but you can get practically anything there and there's tons of really excellent food.
Bulgaria is indeed quite safe but Dubai makes it look dangerous by comparison the crime is virtually non existent
If you prefer cooler weather and lots of trees yes Dubai isn't for you though the 3 & 9 months is an exaggeration I find it's quite good for about 7-8 months per year then again I'm happy with it being warm
@@OffshoreCitizen I live in East Bulgaria and away from Sofia in a smaller town. GMO is banned here, as well as various other products that are legal in the west. The yogurt and cheese here are the best in the world, and yeah if you're looking for foreign food, of course it isn't going to be good. You're in Bulgaria! Eat Bulgarian food, they know how to make it the best. Schkemba ciorba, tarator, sach, etc. The fruits and vegetables are also fresh and usually produced locally if you eat seasonal (more meats in the winter and preserved food).
Real high end food is natural and not processed. I guarantee you in Dubai they do not do the same checks as the EU for freshness. I won't disagree about steaks in Bulgaria if that's your thing, but it never has been historically a part of their cuisine. Much more pork, lamb, and chicken.
As for Bulgarian, I learned Russian which helped me with Bulgarian and Bulgarian helps with Russian. Lots of Russians in Dubai.....good luck there by the way
@@Chris-gs7cq I live in places where peak temperature reaches 48-50 Deg C. So, Dubai should not be much of a problem !!!
the atmosphere, the nature, the food, the soil, the sea is indescribable, healing for the human soul
Just a comment regarding the weather.
Sofia is at high elevations ~ 600 meters. It's a mountainous city.
Plovdiv, the second largest city and a cultural capital, and Burgas, the 4th largest city, both feature a humid subtropical climate. Literally, all of Southern Bulgaria's lowlands feature either a Mediterranean (Primorsko/Sandanski) or Humid Subtropical climate. You can find wild olives, pomegranate, palm trees and kiwis growing outside w/o any winter protection. 2200-2800 annual sunshine hours. That's not cold.
So the author has a rather limited understanding of Bulgaria; his views are only based on living in Sofia. This is like saying - America is cold because New York has bad weather.
You totally lost me at 'Bulgaria is cold'.
Bulgarian weather is basically the same as Spanish weather, just on the south-eastern part of the continent.
Enjoying a nice, refreshing Mojito while typing this comment btw. It's October 14 and the temperature outside is about 27 degrees Celsius.
He spends part of his time in the Emirates. So yes, to him Bulgaria is cold :D
Bulgaria used have very cold winters back in the day. -25C was not rare.
Now winters are much more mild. One of the benefits of global warming.
The weather is not like in Spain for sure...
I really disliked Sofia. I was there only 5 days. People were very aggressive and rude. Customer service does not exist. I was approached by prostitutes several times.( I’m 70!) I would never return. They are still recovering from Soviet mentality.
Dubai is a big gay shopping mall of empty consumerist culture. Basically hell....
I just moved to Bansko, Bulgaria. Really enjoying it so far.
Since it's a small ski town plenty of English speakers here.
Made sense for me as already an EU citizen and love hiking and the outdoors too!
Shhhhh... don't tell everyone about Bansko....
Great choice, I'm living in Plovdiv, but planning to check out Bansko come spring.
Plovdiv has some nice in-city hiking, but the mountains are a bit far away for my taste (about 10 km).
I may get a bicycle though, which should do wonders as far as closing the gap between me and the mountains for quick hikes.
Moving to Bansko is like to buy house in Las Vegas downtown or in Disneyworld! Bansko is not premanent place to live is tourist attraction !
@@Scolopente I am Swiss.... So I liked very much to watch several videos about Bansko! BUT the negative point is that in 2025 Bulgaria is going to enter in the EU !!! So stupid to like beeing part of the EU ! Just the hell and getting from bad to worse and worse !
@@entresolysombra5245 I just came back from Bansko and Bania. Great places, but I agree with you on the EU comment. Nothing good will come out of the USSR 2.0
I met a load of Peace Corps Americans way back in Bulgaria and it was very clear that they were a square peg in a round hole,all of them....... another thing I would say is like most capital cities Sofia is a little different to the rest of BG. Each to their own, for me Dubai is the last place I would ever want to visit never mind live, but thats the beauty of our realm.
if you want to live like a stinky peasant then sure
It's amazing how people describe the rich Gulf countries as "a great place to live". These countries are governed by theocracies, and their laws are medieval. Especially for women.
I'd encourage you to actually spend time rather than judging by media narratives. What you're describing is simply not the factual on the ground reality
So I am a Bulgarian and judging by the title was curious to understand if this was going to be one of those trash-talking videos about our country.
Turned out it's quite a positive video and mentioning some of the benefits that we have living here is great!
Surely, not ideal, there are no ideal or perfect places despite you having mentioned such. I've traveled around and have lived abroad in Slovakia and do not consider relocating anytime soon. Not for the moment, at least. Home is a dear place.
Absolutely your home tends to be a part of you
"Go where you ... like it the most" made me laugh 😀
He definitely didn't say "Go where you're treated best" 😀
Iykyk
How about:
Go Where You Hate it Least😮
@@sonny8085 Actually, I prefer "Go where you like it the most" over r "Go where you're treated best". Sorry Andrew.
I was in Dubai for business ....but that is definitely a place I wouldn't like to live, the same with London /UK/.. . Bulgaria in my opinion is absolutely the opposite.❤
Interestingly enough, almost everything you described about disliking in Bulgaria is a pro for me and vice versa for UAE.
I often hear people say....'you want to live there, but what about....insert someone else's projection here......' I agree with you that there is no perfect place and I'm pursuing the path of less than perfect places that all add up to a good life.
Definitely a great way to go
It is great that you have found the place to develop your endeavours. But, honestly, switching from Bulgaria to Dubai suggest a very high level of randomness in your choice. I cannot even think of business opportunities overlap between the 2 countries.
If something doesn't make sense it usually means you're missing information😉
@@OffshoreCitizen I just don't get how you can handle the Dubai weather. But if you're traveling a lot, then I get it. I mean, it hits 47 'C sometimes in summer. Imagine the AC costs if electricity costs increase.
Interesting post. Personally I'd take Bulgaria over UAE anyday. I like seasons and nature. To be able to buy groceries or run on a treadmill at 3am doesn't appeal!! Dubai is too bling bling for me I prefer my brutalist architecture!
Dubai is a downgrade in terms of quality of life. Horribly planned city, dust and air pollution, extreme heat, no citizenship or permanent residency, dubious legal system and protections. You are always a second class citizen to a local.
I find nothing in the ME attractive. I rather pay more taxes than settle anywhere near.
I don't have the money to move and I have never been but honestly I don't even fancy going on holiday there. I could be wrong though.
Some fair points.
The city is actually not too bad in terms of planning. I was back this year for the first time in 4 years and the roads were noticeably busier, so it is starting to show a little in terms of infrastructure challenges. On the plus side, the roads are MUCH better quality than almost anywhere else on earth.
Weather is great 8 months a year and truthfully most people with the $$ leave for the other 4 months. Fortunately it is summer in the northern hemisphere during those 4 months, so there is no end of choices on where to go.
The legal system concerns are a little overblown. There were some high profile cases in the past that highlighted a rather draconian approach. If you're living your life with integrity and honesty, there is little to be worried about. The upside is that I can stroll down any street at 3:00AM, wearing a $50,000 watch, and nothing bad is going to happen. Try that in the U.S. or Europe.
As for being second class, true. I notice it when I'm there. It is one of the reasons I would probably not choose to live there year-round. Nowadays though, there are so many people from around the world, that it is becoming less and less of a thing. You seldom even interact with locals as they are such a small minority of the population.
Really. Dubai seems to be a weird place to me - foreign workers doing all the work, pockets of religious extremism, no drinking. Also, I think if you were a woman, you might re-think UAE..
I've never noticed being treated like or feeling like a second class citizen. Actually quite the opposite as I've described in other videos in Dubai I feel like a customer they want my business whereas in places like Europe and North America you're a resource to be exploited
I lived in Ukraine and Poland on around $1600 per month total. Then considered Moldova or Romania, and before that, an income visa in Spain. Now I'm in California spending 7 times as much😮
loved the way how you put it from all angels. I went through the same thought process and moved from UAE to turkey. but my circumstances are different. Good luck in Dubai.
Turkiye! not "turkey" or Turkey.
@lorenk.775 and... "angles", not angels.
How are you liking Turkey? What area are you in?
Thanks for your reply. I am in Gaziosmanpasa area. I moved to turkey bus of better quality and less commercial med care. In Dubai you can't afford to get sick, I am 61. Worked 16 years in Dubai, now retired.
@lorenk.775 Deutschland, not Germany, not Almanya. أردن (Urdun), not Jordan. Россия ( Raseeya), not Russia, Sverige, not Sweden, der Schweiz, not Switzerland, Suomi, not Finland..... if we start that stupid game, where are we gonna end up?! So, yeah, Turkey. But you guys can call it whatever you like calling it.
I had choosen Bucharest instead of Sofia and I am very happy with the choice, almost everybody speaks English here.
Glad you're enjoying it, Romania is underrated in the world I'd say
I guess if you like mititae and mamaliga
Greetings from Bogotá- great video, we enjoy your content. Cheers
Awesome, thank you!
Soy de Colombia y viviendo temporalmente en Bulgaria ...hay cosas que me gustan otras cosas que no
I also think there is no ideal one place for everything. That's an industrial age idea. There is nothing stopping you from getting your fries from McDonald's, your burger from Burger King, and the shake from Wendy's. We live in a kind of à la carte world
Definitely can get lots of benefits designing your life that way... Though I'd never choose burger king for my burger 😜
This particular vlog He is rather amusing to me because I'm a senior and getting married to a European who exactly wants more freedom and flexibility in moving and setting up a local business. I actually wanted to consult with you in this regard. I'm managing some transitional details first. Thanks for all your videos. An American...
Man, stay in your Dubai!! Dubai: A big desert, no environment, huge buildings.. is that the dream life? Life is not only a business, beef and sushi! My opinion...So enjoy your life in Dubai! Obviously you don't know anything about my country!
I'm living in Sofia as we speak. Loads of pros and cons. But compared with rest of Europe, Bulgaria is still cheap which makes the country quite attractive. The weather could be better, I agree.
Definitely one of the best places in terms of value for money. Hard to beat that
We're moving to Veliko Tarnavo region in a couple of months - can't wait. Good luck with it all
I am looking at moving to Sofia next year for the cooler summers...here in Bucharest it is 35 whenever Sofia hits 30. Plus winter is just as cold.
@@Chris-gs7cq Well, Sofia is surrounded by the huge Vitosha mountain and hence being cooler and you can escape there in 15min as it is a really cool place. Sofia also has huge parks that even in the summer you can always seek the shade within a short walk. South Park is definitely one of the best and not so far away from the city centre. Sofia is also not far from the Greek Sea and less than 4 hours to the Black Sea and around 7 hours to Istanbul. So there is a huge variety. Bucharest though has nicer architecture and feels much more urban. Sofia is more chilled and relaxed. In general, if you plan to move to Sofia always look at the southern neighbourhoods as they are more developed. Finally, Sofia has a really good metro system and ridiculously cheap. Trip from the airport to any place in Sofia is 0,80€.
@@Chris-gs7cq whereas, not whenever
But Dubai doesn't offer permanent resdency or citizenship, what's your plan for your retirement days let's say after age 60/70?
Retirees have an easy time getting permanent residency anywhere. You just need the money to retire without social security.
No reason one could not stay in Dubai indefinitely. The golden visa is renewable every 10 years if you have the $$ requirements nailed down (RE investment). If you enjoy the lifestyle there, easy choice. But even if your tastes change and you want something a little more laid-back, having Dubai as your tax home might be well worth considering at any age. Even if you're retired, that investment portfolio/pension is going to be taxable in most places.
Freshly those are problems best not considered today. I never intend to retire and the world will change so much by then it's a fool's errand to try to predict what it will look like by then or if it will even be around.
30 years ago no one would have considered Dubai at all today it's one of the greatest cities in earth. What is coming that you can't see?
The best path is to invest in optionality and be flexible
@@OffshoreCitizen Thanks for the reply, but at least we need one country where we can settle permanently, what will be your preference in that case, considering forex & crypto as your main source of income?
@@gauravpatil1867 He already answered your question according to his preference on life. You repeating your preference and question is irritating and achieves nothing. Learn to listen!
10:05 "Go where you're treated...where you like it the most!" Haha just kidding Mike. Great video
Michael is by far the better consultant/guru, but the other guy's marketing is just next level. Nothing wrong with stealing that 🙂
A very interesting video Michael as the Dubai / Balkan combo is what a lot of us europeans gravitate towards if we dont have the millions to play the monaco game. Looks very much like Dubai is the go to 'hub' where we can establish a home for 3 to 8 months of the year and then divide up the other time by carefully avoiding triggering residency in other european countries and not getting burned to a crisp in summer. I visited Bulgaria 20 years ago when it was still emerging. one of the first memories I had was one seeing a middle age woman crouch and take a dump in a central Sofia park bush. The hotel we stayed in at the time had a strip club on the top floor, on the second day the elevators went out of service and we have a 9 floor walk up to our rooms. we also took a road trip through the 'valley of the roses' and the road was so bad we broke one of the wheels of our van. I am sure it has improved vastly in the last 20 years but I have fond memories from back then.
Hahahaha fortunately it's improved a lot
Ya, people don't take shits in the street here, nor did they 20/30 years ago. I have a story about a crackhead woman that was squirting breast milk at people at a mall in Toronto, and plenty of other stories about sketchy hotels and sketchy people. Plain and simply, you stayed at a dump and ran into a crazy person, not very relevant to the conversation at large.
What is so "very interesting" about this video? He mostly kept saying things like (paraphrasing) "choose what you like the most", "some people don't speak English", and inconsequential remarks about his marital situation.
The fact that his bare statements Bulgaria remind you of your pleasant experience there doesn't render this video interesting, let alone thoughtful.
those budget hotels present with many surprises
Please make a video about their healthcare system-really helps those considering retiring there.
Please make a video about the "great migration" in general!
Working on it
Thank you for these informative presentations and reviews based on your experience and wisdom, which I find very helpful
Glad it was helpful!
A small correction, Bulgaria being part of EU means English is supposed to be the 2nd official language there, as reflected in the banks you went later on, therefore you don't necessarily need to learn the local language there or any other part of EU, though in some countries they don't prefer the English there and prefer foreigners learn the local language, such as in most of Italy and some parts of France.
You do need to if you want to be able to communicate
This is a very flawed logic to think that English needs to be a 2nd "official" language in a EU country.
@@marcusdamarcus837English is the de facto 2nd language needed, not de jure. You need to speak the language of your rulers, it’s common sense.
There's no EU member which officially speaks english language as native. So the first second language of bulgarians should be american, not english. And the second second - russian of course. Unless if you are from this minority (1/6 of entire population) speaking turkish. Which is different from the turkish in Turkey.. At least we have google translate and middle fingers.
@@OffshoreCitizen learning another language is not as easy as some people think, perhaps in a very basic level with confident facial expressions, which will work primarily for the purpose of trying to impress a girlfriend with worldliness and intelligence, however it works poorly for communication
100 times I take live in Bulgaria than dubai.nonsense video.
You almost said the Nomad Capitalist way: go where you are treated best 😂
Welcome back, Michael!
Nice overview, btw. So many places, far too little time.
I would like to know about the real estate and how the country is for real estate investing. I am getting a citizenship by descent. I don’t know how long that’s going to take but I’ve been meeting other people that live in Bulgaria and possibly maybe even doing business with them before I even get there. Thank you for the insightful information truly appreciated.
Great video...ps what is the best city in Bulgaria to live and work in or to retire for ex UK citizens
I am Bulgarian living in the UK. Being a foreigner in Bulgaria, you better stay in one of the bigger cities, like Plovdiv, Varna, Burgas, or Sofia. Not because you must live in a city, but for practical reasons, like having social life, having other expats around available, having somebody to translate and interpret for you in formal cases, having libraries, theatres, restaurants, etc. Small villages do have charm and appeal, but you will be starved socially, and probably will be helpless if you need translation services.
Do not underestimate that as a foreigner, you will have low availability of jobs suitable for your soft skills.
It is so difficult to order things online that I received more than 100 shipping orders from China :D :D :D
But UAE does not offer citizenship to any foreigners, unless they have changed that recently.
You can skip straight to the 8 minute for the reasons. You will not miss anything and I haven't heard any obvious reasons why to left Bulgaria
Boring
get to the point
I'm in Plovdiv, Bulgaria now, as usual.
Winter is about to hit, thinking about exploring somewhere.
But it's still 1000x nicer than Norwegian winter.
The great thing about Plovdiv is very little wind, and a couple of decades warmer than Sofia.
Rain is really rare.
Weather-wise it's almost a 10/10 all year.
I'd say a 6/10 in winter, but still one of the mildest places to experience 0'C or lower in the world.
I'm glad I'm not in Varna this autumn/winter, what with their Norwegian wind speed.
On 30 December 2023, the Council unanimously agreed on the accession of Bulgaria and Romania to the Schengen area. Thus, as of 31 March 2024, both Member States will start applying Schengen rules.
This could have been much shorter- RESPECT your viewers time.
If the system was functioning so well we also wouldn't have those benefits that businessmen choose Bulgaria for in the first place. I am seeing a lot of negativity in the comments especially about the language. Well we are also not having the easiest time learning english but we are doing it for our own benefit. Talk to any 20-something year old in Sofia and you'll be able to communicate in egl, of course it's rare for people in their 40s or 50s. Go to France and try not speaking a word of french there for years. I think many of the commenters just don't like how bulgarian sounds so they don't want to invest time in it which is fine but then ofc bulgarins won't want to invest tine in alking to you. I am getting the impression foreigners want us to kneel for them, provide them better infrastructure but keep being poor so prices are low.
You have a point there. Lots of young people can speak English. I believe that lots of foreigners would like to learn Bulgarian, especially if they want to stay in Bulgaria long term but it’s a very difficult language to learn (unless you already speak a similar language such as Serbian or Russian).
And yes, Bulgaria is a business friendly country which attracts entrepreneurs from all over Europe and further.
Every country has positives and negatives it’s up to the individual to decide what matters to them and choose accordingly
Hey Michael, I like your perspective on this. I agree that convenience and ease of life are major concerns when choosing a location. Language can be a huge barrier and drastically affect your experience. Coming from an English background, I think I would only want places that have a decent amount of English speakers. Of course, not for everyone, but thats just me. Having said that, what are your thoughts on Saudi? They seem to be really easing on the rules and becoming more like Dubai. Still a ways away, but moving in the right direction. They certainly have the financial horsepower to achieve incredible things similar to Dubai.
Saudi is apparently an incredible place to make money right now so clients tell me.
Some really cool tourist spots too.
I can't figure out why anyone would live there over Dubai yet though. Same with Qatar and Bahrain both impressive places but lagging behind UAE by 5-10 years
As a south African I want to immigrate to the middle east
Do you think working towards a uk/irish (plus non dom) passport is a good decision before moving to the middle east?
Definitely it's a great long term asset especially Irish with EU access
with a UK/Irish passport you will be positively differentiated in the middle east compared to a lower grade passport holder, so 100% go for it (e.g. better salary for same job, just because you have Anglo-Saxon passport)
Been in UAE for 22 years, looking move to Bulgaria. Tired from hectic, only money- oriented, no-permanent friends country.
Feel free to reach out in case you need any assistance with that
I’ve been waiting for this video ;)
Ha, me too :)
Comparing Bulgaria with Dubai ? Are you serious? 😂😂😂😂
I setup a company and Bulgaria and I kind of regret it. After several trips there, I have decided I don’t want to live there, and getting residency as an American is a pain. Without residency, my company cannot easily use revolut or Google Ads. Without residency, the border guards ask me a bunch of questions every time I go through passport control. Bulgaria doesn’t have a totalization agreement with the US, unlike Romania or Czech Republic. My Bulgarian bank has a tedious website and requires me to carry an Android phone to authorize CC payments. They cannot send SMSs to foreign phone numbers and they are missing an app on iOS. I struggled to hire good IT people there which maybe was just bad luck. I found it easier to hire good people in other countries. There are definitely good things about Bulgaria but for me, it’s not my forever place.
Hmm which bank were you using? Generally I'd avoid sms as a 2FA method vs email or an app but the banks I've used have iOS and Android apps
The talent pool isn't very deep but depends what you're looking for, costs tend to be pretty good
@@OffshoreCitizen Raiffeisen which became KBC which became UBB.
You can confirm wires using their Token app on iOS, but you cannot confirm credit card transactions. For CC, they send an SMS. But the SMS only works for Bulgarian numbers. Prepaid Bulgarian SIM cards don’t work outside of Bulgaria, and I refuse to get a postpaid SIM for the sole purpose of confirming CC transactions.
On Android, the bank has an app called DigiPay which can confirm CC transactions. On iOS this app does not exist (not from the same bank). I asked why there’s no app for this on iOS. They said it’s because they support Apple Pay instead. But most online retailers don’t accept Apple Pay. So I’m forced to carry around an old Android phone.
I agree, costs in Bulgaria are pretty good!
If you are able to change banks and want to do so, DSK Banka supports foreign phone numbers, at least they support Norwegian ones.
However, I don't know if they have proper 2FA - I'm just using SMS. But it's OK for me, because I mostly use Revolut and such.
My dude, everywhere you go for a living, you need at least to try to learn the local language. Even by saying some basic phrases like "zdrasti" change the experience and open closed doors. I currently live with a Polish lady who refuses to learn Bulgarian and she lives here for 7 years now and she's constantly complaining that she has inconveniences and that everything here sucks but she refuses to learn the language or integrate into the society. Well...I can't help a person who doesn't want to be helped.
For context, I used to live in Croatia, Greece, Slovakia and Czechia and always tried to learn some of the local languages. I went specifically to Greece to learn the language because I'm an hellenophile but that's a different story.
Good luck in your journey and maybe you will be back in the future, who knows.
Why does your lady refuse to learn the local language? To refuse it after living there for 7 years doesn’t seem right. How can anyone enjoy living in a country without even making an effort to understand and learn the local language at some point…. 🧐🧐
@@sallygoldfinger she's not "my lady", we are just friends who live together but I agree with you. I asked her couple of times why she is refusing to learn the language and she just doesn't want to do it. Basically she puts borders on herself and is unhappy because she doesn't have any other Bulgarian friends besides me. She is just staying in her Polish bubble for years now and I personally find this odd. And I told her that. I can't learn Bulgarian for her, she needs to make some efforts too. She understands some of it because she is Polish and her language is kinda close to Bulgarian but not so much. She doesn't make any efforts of learning how to speak the language tho. Or at least try.
I traveled to Sofia and other parts of Bulgaria. If you speak a little conversational Bulgarian with good pronunciation they will think you are an immigrant without the respect to fully learn the language and judge you for it. If you only speak English they will think you are a somewhat rare tourist and treat you well (meaning normally). Many people are easily irritated by foreigners for no reason.
Good to see you back where you been :) ………………...
Get the point?
Bulgaria and Sofia airport is dreadful for European flight connections. Ive lived hear for the last 8 years and trying to meet friends from uk elsewhere in Europe is a constant headache meaning id usually need connecting flights
There is a lot more high end apartment buildings now but unless you earn €100k after tax or have €600k cash you cant afford to live there
Agreed! That airport is QUITE bad
Hi Michael, I do remember your Bulgaria trade representative visa experience video you shared a few years back, where you mentioned that you can help also with finding the required active company which is mandatory for a trade representative visa. Is that offer still available? Cheers 🍻
Yes please send us a message through www.offshorecitizen.net
I'm in Sofia right now.. I have spent this whole summer exploring places to live and doing research in Greece, Spain and Portugal.. I thought Spain would be it because of the South's good all year round weather and the fact I know a lot of Spanish, but their tax policies are sooo bad, and Spain can be boring.. Bulgaria was the last place on my list.. Thing are a lot easier as a couple I think, then a single guy moving somewhere... but what I can say, language barriers are tough over time. I may go back to the U.S., or live somewhere like Canada because not having language barriers is really great, people take language for granted. Not everyone can learn a language like Bulgarian or want to put the time in.. Just yesterday someone was trying to teach me "Thank You" and it was so hard I just lost it and said it sounded like Chinese and started to make fun of the word.. You will always be an outsider, and not many people actually know English well in Bulgaria.. I would love to live somewhere so affordable and have the freedom it brings, but looking back after 5, 10 plus years here, would I regret it? I think so..
Malaysia is good in that regard
I was in Bulgaria when I started my online company, which is still registered there. For living: Try out the baltics. EVERYONE speaks perfect English which improves social life so much. You might of course have to go more south during winters.
why did you choose Bulgaria instead of Romania? Lol.
Much easier language, bigger country, has mountains & sea side. Taxes were/are still pretty good. People are warm and women are beautiful :)
plus A LOT of people speak English really well in Romania. More than half. Especially folks under 45
First! And welcome back; been wondering where you were - I hope all is well.
Having now watched the first 6 minutes, I have a question. As I consider moving overseas, it seems that we have "too much stuff" (a not uncommon American phenomenon) - even with realizing that a significant portion of it will not come...how do you deal with that? (For example, I have more than a few musical instruments.) Do you just keep your computer and some clothes and move to various places? Keep in mind also that I am nowhere near the financial strata where you are (major props to you), so that is a factor...but I would think this is a question that applies to one degree or another to many people.
Thanks! All is well, just been super busy in the last few months
@@OffshoreCitizen Having now watched the first 6 minutes, I have a question. As I consider moving overseas, it seems that we have "too much stuff" (a not uncommon American phenomenon) - even with realizing that a significant portion of it will not come...how do you deal with that? (For example, I have more than a few musical instruments.) Do you just keep your computer and some clothes and move to various places? Keep in mind also that I am nowhere near the financial strata where you are (major props to you), so that is a factor...but I would think this is a question that applies to one degree or another to many people.
have you also lived in Taiwan? I think I saw it on one of your videos. Would you say good place to relocation?
Never lived in Taiwan no, I've lived for a short time in Thailand
What are your thoughts on Bucharest vs Sofia?
How did you track cheap Qatar Airways business class deals from Sofia?
Don't you worry about global warming, and how it will affect UAE? One reason we chose not to relocate to Cyprus was this.
Not in the least I think Dubai is far better for that than most. It's already hot so everything is set up to deal with it, there's no tropical storms, no forest fires it makes zero difference if it's a degree or two hotter
I find the biggest nuisance although hard to ascribe causality to climate change or not are forest fires in certain parts of the world so I'm quite happy to be in areas where that's not a concern
@OffshoreCitizen Appreciate your points shared! What's your take on the Isle of Man especially when compared to Cyprus or, to some extent, Dubai?
I think for most people it's less liveable due to weather. Appealing for people from UK who want to be close to London but doesn't offer a lot domestically
If you're gong to consider Isle of Man should also consider Jersey
in Janet supermarket in Nasebar grape costs 9 usd per kilo now !!!
So what are your other places Michael?
I am thinking of a trifecta approach for myself. I want to get out of the Canadian tax net, more and more every day when I see how stupidly the money is used. I will have business interests here, so not being on the other side of the world year-round would certainly be helpful. Not just the long flights but the time difference might get old fast.
My working plan is Dubai from mid-October to March 1. Puerto Vallarta for March, April, and May. 10 days of travel at the start of June (Japan/North America), then Vancouver for their summer. That keeps a little bit of time in the home country. Then September 1st to mid-October would be various destinations in Europe. So much to see there. The weather is still good in Europe, but not oppressively hot. The crowds are thinning. Great time to explore Europe before heading back to Dubai to start the cycle again.
With Dubai's newer 90 day approach to tax residency, that should sort out a large part of the tax problem. The inclusion of Mexico is to ensure easy access to Canada for business reasons without getting the CRA re-involved in my life (staying well under the 6 months).
The weather outcome is nearly ideal year-round with plenty of sunshine and not too crazy hot temps. I have never seen the point of living somewhere that one needs to be hermetically sealed in an air conditioned room. To me that is only a slight upgrade from a similar room in a Canadian winter where we have the heat on. I love to have the windows open when I'm working at the computer, or better yet, be outside. Can't imagine that working out well in Dubai in July.
Anyway, let's hope the world stays sane long enough to finish pulling the plan together!
Keep in mind being tax resident in Dubai doesn't make you non resident anywhere else especially Canada given it's essentially impossible to have the Canada UAE tax treaty apply. This being said if you're careful to severe your ties to Canada it could be fine.
I tend to like Europe in the summers lots of great places there. Travel to Canada and US to see friends and family, then trips throughout the year to other areas especially time in Asia.
@@OffshoreCitizen Yes, good point. I will make sure to tick the boxes so as to leave no doubt that Dubai residency is solid. The plan is to set up a Dubai off-shore corp, then contract it to the Canadian corp. Within the confines of transfer pricing regulations of course. Any profits that remain in the Canadian corp (that cannot be shifted to the Dubai corp) will just have to go as salary and bonuses. Should bring the profit of the Canadian corp down to zero. The 25% withholding taxes on personal income will be my only contribution to the Canadian regime. At least a portion of the whole thing will be tax-free, and of course tax-free future investment gains on the money once liberated from the CRA's grasp. Can't see any way to fully shield the income generated in Canada as I would be deemed to have a PE in Canada. Not a zero percent tax rate, but when all is said and done, hopefully ~10%. Perhaps I will reach out next year and see if you have any thoughts once I've pulled together a more definite plan.
That was a very interesting post. I'm also Canadian, and I left about 13 years ago mainly because of the high tax, the terrible weather, and the insane difficulty in accessing healthcare. I moved 13 years ago to Israel from Canada and have no tax to pay for the first 10 years, of course that's over now and it's time to go somewhere else with my EU passport. Healthcare though is really excellent here, you're able to get the best of health care able to see professors in a day or two under the private system and access major operations within a week or two. Some people in Canada are waiting three four and five years for back surgery, and now they have to leave the country and pay a couple of hundred thousand USD to get an operation in the states are perhaps maybe a little cheaper to go to Europe. I know in the hospital I was at in Israel there was an awful lot of foreign residents mostly from Ukraine and Russia who came for back surgery. They would keep them in the hospital for 13 days just to make sure everything was okay and then they would whisk them off back to their home country and communicate on WhatsApp if there were any issues. You know when you're sitting in a country like Canada freezing your balls off, and paying 54% tax, you have to wonder is there a better way? You may want to analyze the rules on transfer pricing. They have become very onerous of late, and you will have severe difficulty in convincing cra that there is a bonafide operation enabling you to do transfer pricing. Even major corporations like Google that put their IP in Ireland to pay 4% tax and income and charge all the subsidiaries licensing now have to pay local taxes on their operations in each individual country. Of course that was too well enable the oecd to collect more taxes. But when you get an audit, they can really be brutal. Keep that in mind.
3:23: (nazi) Canda is not an option anymore, Bulgaria is very underrated unfortunately, Dubai is more tax friendly I think and more opportunities…..Dubai is my next place where I gonna live….
Im also in the same situation living in Bulgaria for since 2021, but going to UEA and pay 9 procent in any situation now will not make me wanna move to it.. when it was still 0 procent it crossed my mind allot.
There are still strategies for most people
What are the ideal places you’re moving towards, Michael?
I think Italy is outstanding for part of the year though don't get into their tax net
I really like Dubai it offers a great life
I'd like to get a beach house somewhere but haven't decided where yet.
I've always had this view that I'd like a place in a great city, an estate somewhere more peaceful and a beach house.
I find more and more it's appealing to be able to bring friends and family to a great place and spend time with them so that's a major consideration
@@OffshoreCitizen I couldn't agree more. Italy makes for a great hub in Europe. It's well-located making it easy to road trip to many destinations. Mountains and sea just a few hours between each other if even that.
I too am looking for that beach place, so let us know when you find it!
@@OffshoreCitizen I wish you'd talk about "surviving the desert" in Dubai. I could not even see myself visiting Dubai except for winter.
I can handle 34-ish 'C with no issues, but 40 'C is not gonna get me to climb even a hill (I considered doing so in Plovdiv, but decided not to)
We want to travel the world and we are not sure where to start as we do have 2 small dogs and own our own online business. Maybe Bulgaria would be a good place to start? How is the healthcare system there along with cost.
All depends on your personal circumstances, long-term goals, and all that you're trying to achieve. Probably best to reach out
Wow is that your house in Sofia? Did you build it yourself?
I did not build it no
Why i left Bulgaria. Five mins in and I've been told his name multiple times. He told me about his wife and loads of lame info about his life that nobody wants to know. Hes told me about other counties and why i might want to live in those places, but nothing about leaving Bulgaria
Lay off the Ritalin and stimulants, you cant get a sentence out your mouth with out slurring. You start the next sentence before youve got the last one out your mouth. Your all over the place. I think your wife was looking for different countries to get away from you 😂 Sorry but 5 mins listerning to you was 4mins 55 seconds too many for me. I think you gave me ADHD.
Michael, why don't you and others feel any concern about Dubai as a location in the nexus of a potential warzone involving the US and Russia in the Gulf, Iran and Shite rebellion, Israel and Iran. It strikes me as a fragile situation....
Where in the world isn't fragile right now though?
Asia has all kinds of potential problems areas... the Korean Peninsula, as well anywhere that China thinks they have a right to. HK, not great. Japan, could be problematic. Just about every 3rd world country in the region is a potential target of Chinese power. Singapore will likely remain neutral. Malaysia and Thailand are powerful enough to resist hard power from China, but certainly not soft power. I would lump Australia in to that as well.
Africa... nuff' said.
Europe and North America might be the last places you want to be if things continue to escalate between Russia and Nato.
I think that the monied folks who are flocking to Dubai will ensure that their global influence keeps Dubai a no-go zone for open and damaging conflict. The conflict might rage all around you, but... It is one of the few places I would actually bet on right now. That and South America, but I think I might prefer nuclear annihilation to being bored to death.
Life decisions are a series of trade offs. You're also balancing risks with certainties.
Is there a chance you could see war affect Dubai? Certainly, we hope not and if things were escalating a lot I'm in the privileged position of having lots of places I can go accordingly but I actually think the risks there are the lowest they've been in a long time and risks have of course risen in some other areas.
By contrast I've got certainties in many places like bureaucracy, tax, networking, conveniences, etc. So how do you balance those certainies with possibilities?
I think choose the place that suits you best today and keep back up plans.
Right now by many measures Dubai is the best place in the world for people looking for what I am. I wouldn't have all my eggs in one basket and I'd shift if the balance changes.
@@OffshoreCitizen Right now I'm sitting in Calgary just relocated in an Airbnb from NY. I take note of all your points, but just feel that the middle east is not a stable place as a choice, nor anywhere in Europe either. My favorite choices would be Panama, Costa Rica and Ecuador. Paraguay would probably be even better. I can't take the high heat and humidity, and can't imagine living in Dubai or anywhere around that region.
you should do a deep dive on Saudi & Bahrain before 'the other guy' does lol. I have heard Bahrain is a sleeper with cheap property options ready to boom.
It's becoming more popular but few people actually want to live there
There's lots of places you can go with low costs the question is do you want to live there?
Good suggestion for content will do
I lived in Bulgaria for past two years and all I can say is: complete shit show.
1. Bureaucracy: Bulgaria's bureaucratic processes can be complex and time-consuming. Obtaining permits, licenses, and dealing with government agencies may involve significant paperwork and delays.
2. Corruption: Bulgaria has struggled with corruption issues in the past, which can affect business operations. It is important to be aware of this and take necessary precautions to ensure a transparent and ethical business environment. Certain sectors such as healthcare controlled by mafia meaning government. Infiltrating market is a complete joke if you dont have connections.
3. Infrastructure challenges: While Bulgaria has made progress in improving its infrastructure, there are still areas where it lags behind. In some regions, transportation networks and logistics.
Infrastructure is broken completely. A lot of new construction sites but no one invests in roads. Shit show
4.Political Instability: country that couldn’t form a parliament for almost two years.
5.Low Taxes: Absolute scam, due to the fact that you will have to constantly pay different service fees, accountants are expensive because of intricate accounting system.
6.Inefficient VAT system
List keeps on going further, but all I can say: forget about moving here, sometimes its better to pay higher taxes and live in a system that properly functions.
Go explain these shits to yourself in front of the mirror. Such a trolling post!
Why Dubai and not Cyprus, as an alternative option that is in EU as well?
Dubai offers 100x more in terms of conveniences, lifestyle and networking
This is a matter of taste though I value all the stuff that a modern first world city brings, Cyprus is too rural for me to live there but for others it's great.
I also don't necessarily view being in the EU as a plus unless it makes it easier to relocate (only for EU citizens) or you can get some kind of permanent status out of it and Cyprus doesn't like to give away their citizenship by naturalization.
So it's too each their own. I often suggest Cyprus as an option to clients and some move there though it's much less popular than Portugal etc
@@OffshoreCitizen Yes, indeed, I have a EU passport. Thanks a lot for the detailed explanation
As long as your brain demands reason and your butt demands adventure.. I don't know what you want eat your gmo and stay where you came from! Otherwise visit London and have a nice walk and report afterwards how it went with the rolex and if you had any problems. But not only around, Soho ;)
Good information to know, but I have to say, just wait until you get older, and get tired of the pricey"conveniences" of city living. I thought I would live in Los Angeles forever, but glad I got out before their Draconian lockdowns! I now live in the Southeast of USA which is very hot in summers, with short winters, and boy, do I want more cold weather, sweaters, and a fire in the fireplace. Having grown up in the snowy North, I have no problem navigating the slick roads.
If you lile fireplaces.. Come to Bansko, Bulgaria 😂 very cold winter and nice summer
Maybe, I know lots of older people who feel differently. There is no one size fits all
Dubai for a ginger person? Watch the heat.
Hahaha 😂😂😂
Missed bulgaria on the last trip, ut overlal was very unimpressed with Eastern Europe.... Next time in Turkey i'll go and check out Bulgaria though (assuming I don't lose the passport again ahha)
Side note... My channel works at editing finance/residency videos for people like yourself... we did a mock up of one of your old videos where you recommended 5 different citizenships.
Here it is: ua-cam.com/video/HmPKDvxmLHI/v-deo.html
And there's a bunch there for other guys in similar spaces. If you like it, I'd love to talk about how our team might be able to help take your videos to the next level (need to find out a bit more about your business goals first though to see if we would actually be able to help).
Feel free to say no, I know you;ve got guys doing some of that now. Just putting out there as an alternative and would love your feedback. Cheers!
Thats the problem with balkans women: your bound to live close to her family
Why is it a problem?
Wonder if your Father was Canadian can a US citizen get citizenship /passport from Canada? Not to live there.
You should be able to yes
Looking at lots of videos of Bulgaria, it looks quite a bleak place. The housing is in terrible condition and the gardens are just a mess as are the roads. The Brits appear to be aiming for the very rugged countryside with roads that are just tracks. Living next door to an abandoned ruin until another Brit arrives on the scene to buy it. I really don't see the appeal. What is the internet connection and phone signal like in the remote villages which is vital for business. What about employment? Folk will be moving to Pripyat next.
you never left UK have you?
So you live where you work. This human made golf terrain is not a nature. According to history Bulgaria is more "forever place" than most of the countries in the world. Guess why.
Enjoy the sand and the business.
Bulgaria is not in Australia
???
Too far from reality! Bulgaria is a multidimensional choice, which the flat people (even though well-educated) cannot understand... But I made it for myself!
I like your alien example, but to make it more accurate, put the alien on a budget. As a Canadian, most places that have excellent qualities are now out of the price range for the average person.
I think you should reverse engineer it.
Figure out the ideal place you want to live then figure out how to make the money to afford to move there, even be willing to move somewhere cheaper at first to build and get there.
I'm fortunate that the cost of a place to live isn't really relevant to my choices at this point in my life but that also took working on it over many years.
I think as a general rule the principle in life should be not to settle with your circumstances but rather to figure out how to change your circumstances to maximize your life. This isn't usually fast or easy and some people have a harder time at it than others but you've got one shot at life what are you going to do except give it your all?
I never want to die feeling like I could have done better. I'd rather fail trying my best than settle in comfort for less than my potential.
@@OffshoreCitizen Good advice, but it is impossible to retrain or start something new without a considerable investment that is frankly unaffordable for some people, especially later in life when you have responsibilities like family and mortgages. Let's face it, living abroad was never a big thing for people from wealthy countries until life started to become unaffordable for many people living in those countries.
@@sommmeguyyou got fckd basically
The weather is Bulgaria is very diverse because of the mountains across the country, for example the climate around Sofia is continental which means -Cold , 200 km from Sofia in Plovdiv the climate is sub tropical - mediterian with hot summers and mild winter, and near 200 km from Plovdiv to Varna - and black sea coast the climate is Black sea influenced with mild dry summers and mild humid winters .Talking about Bulgaria in general is very wrong from a geographical perspective
Fair point there is some diversity though Plovdiv is definitely not sub tropical. It's generally considered continental
@@OffshoreCitizen that's not true the Plovdiv climate with all its data is a humid subtropical climate (Köppen climate classification Cfa) and it alwasys has been so are all cities around the black sea coast , anyway u shouldnt argue with people who are more competent in this field than u
I wonder are they many taxi drivers in Canada to speak Bulgarian? Or municipality officers? Are they any?
Of course not, Bulgarian is an insignificant language, while English is the global business language so people around the world frequently learn it
@@OffshoreCitizen obviously you are slightly mistaken: Bulgarian authorities are not your business partner! They follow the constitution where it clearly said official language is: BULGARIAN!!! As all immigrants in Canada learn French and English as official language, as all foreigner in Bulgaria are expected to obey the constitution and speak the local language!! Hope you understand this as soon as possible or you may make more videos how life is unfair! By the way every European speaks two or three languages, but for our friends across the pond this is eresy. Too difficult, a???
@@OffshoreCitizeninsignificant language? Wow, did you learn that arrogance in Canada! Sorry, there are not insignificant people or nations mister.
Silly Europeons...
I spent a long time learning Japanese, A TON of effort.
Think I'm going to spend 10 000 hours learning Bulgarian even tho I may move in 6-12 months, who knows? NO.
Yes, most languages are insignificant in a GLOBAL context.
Bulgarian is primarily useful IN BULGARIA! Who would've thunk it?
Spanish is however an example of a slightly significant language.
If you want Bulgarian to become significant, then create a new Bulgarian Empire and I will agree with you when you've conquered a dozen countries.
English is 1000x more useful than Bulgarian globally.
My language Norwegian is 99,9999% useless outside Norway.
Hence why in Japan I was an English teacher and not a Norwegian teacher!
Get out of your bubble if you want to make any money at all.
@@fjorddenierbear4832"who would've thunk it" and then we have groups like funny japanese signage😂
Since you aren't there anymore... do you mind sharing the building with such amenities or the developers atleast. 😂
Dude is comparing Bulgaria with Dubai 🤣🤦🏼♂️
Yeah people consider between them as places to live
@@OffshoreCitizen I used to find it slightly surprising you were going from Bulgaria to Dubai, but it's been hitting my radar more and more recently, because I realize I'd either want to live in an English-based place or alternatively a Spanish-based place. After all, the ROI of learning Spanish is potentially worth it. Even if I may end up not needing Spanish, it keeps Latin America + Spain + to some extent Portugal open to me.
I might start studying Spanish, but Bulgarina is just too much study for a country I see myself staying in for maybe 6 months to 3 years from now on (I I think I gotta get out of that Norwegian tax net before considering living in Dubai).
Where are you based now?
Dubai
Regarding your information about 24/7 gyms and stores. It is not true there are such available in Sofia ;)
Not much
I wouldn't even want to visit the UAE let alone live there for the rest of my life! Each to their own I guess.... 😶🌫
Why wouldn't you want to visit?
Yes,taxi's are doubled, but you now have metro at 0.8 euro now to travel around Sofia
Yeah they've had it for a while if you're in the line, on the line it even works fairly well
@@OffshoreCitizen they added and are still adding a lot of stations, so little by little it is the way to travel in Sofia if you want to keep it cheap.
I hope they bring it all the way to the foot of Vitosha mountain, that'd be cool.
waffle.
So what was the decision you guys made ? Where will the forever be ?
Great content!!
What's the best country to set up an ibc which offers equipment rental services in Jamaica?
Go to the free zone in mobay
🎉
That was many lovely things about Bulgaria. So why is that very negative sounding "NEVER AGAIN", and a scream on the video title image?
where in bulgaria where poor gypsies families offer their daughter in marriage to the higher bidder just to escape poverty?