@@alexcameron2880 too many people buy into propaganda, sadly. And once people get into government, they enjoy other people's money too much to do anything about it
The island can’t hold that many people and most people wouldn’t do out without their cars another conveniences. For me, I would like an island with bicycles and horses mostly
500 alcoholics clinging to a rock :), that was how a local described Sark to me when I worked in Guernsey many years ago. Never did get around to visiting.
I was there last month looking at property(with the only estate agent there) the property system there is like nothing elsewhere, very complicated. Only a few properties on the open market, which are available to people not born on the island. The tax system there is complicated. They do levy a wealth tax in which you voluntarily admit your global assets(you don't have to, but if they find out tou have more they will investigate) No serious medical facilities, they're ambulance is a tractor with a "medical box" attached. Maybe 3 restaurants worth visiting, so not all sunshine and roses. You also pay tax based on the value of your property in Sark.the likes of Abromovich have used it in the past as a tax haven.
One of the more realistic comments on here about Sark. I live in Sark. Most people coming here don't do their homework properly & have highly unrealistic expectations & are misinformed.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either...
There are taxes if you buy a home on Sark. A property transfer tax of 7.5% was implemented on Sark from January 1, 2024. Since most homes for sale are around £750,000, the tax would be a whopping £56, 250 !!
Lived there for some time. Tax situation is good, island is beautiful, aside from the trash-burning nearby the harbor. You can see the social dichotomy (people with and without teeth) and it is sometimes hard to plan trips. Always book refundable tickets for planes etc., since you cannot be sure that the ferry goes because of (unforeseen) weather issues.
owning a property in any european country now is a disaster. Not only is it expensive and being targetted for the "own nothing and be happy", but they also use it to claim you're still resident.
no. houses in southern europe are still fairly cheap. And yes residents have to pay different taxes. If you are not a resident then it should be possible to prove that?
@@mradventurer8104 just the fact of owning a house is enough some places for them to say you are resident. Denmark, for example, requires you to sign a form saying you'll never stay overnight there again!
@@mradventurer8104 owing a house under personal name is primary tie factor to the country that they can claim you are a tax resident even if you stay that country 0 day a year.
I visited Sark to investigate after this video! It's not the paradise it's made out to be. Facilities on island are majorly lacking. Water heavily polluted with copper. Politics is intense. More restrictive laws than there are people on the island. It really is not the "libertarian haven" it's marketed as. Real estate situation is dire. You could wait years for a freehold property to come to market, and leasehold situation is not ownership - it's a longterm rental with all responsibilities of ownership. Some places for "sale" require you to renovate a property at your own expense and give property back to land owner within 10-15 years. As beautiful as the island is, and as nice as the community spirit and living is... Sark has a long way to go if it's going to attract more residents to the island.
Thank you for sharing that. Great information and good analysis. The reality of what's really happening boots on the ground. This is why I'm looking into Panama. To me the ideal place to live is not just a financial Haven but it's clean food clean water and freedom along with beauty and if you can't have that then how can you feel like you've been treated your best
tax rules have already been changed after Apple's era of not paying real taxes in Ireland from European profits, CFC rules apply, stricter residency determination applies
Yeah, this guy lives with rose-colored glasses on. Acts like Columbia is super safe and some other shady places (only lives in rich city centers for a few weeks out of the year that 😂).
@@DeadWaits Not only did we go. We have just agreed to rent a property there. Not so much "bad laws", it's the over regulation. Sustainable spear fishing is illegal. Fines for riding a bike down a hill. Motorized transport not allowed other than tractors, (which are heavily regulated and limited ). Purchasing anything other than freehold property is ridiculous. Strict drug laws etc etc Tax haven = yes. Libertarian = no.
Sark has tax. It's not high, but it has tax. It doesn't have water mains, sewage, and all electricity comes from centrally owned diesel generators, it's illegal to have your own. It doesn't have cars. Shopping is limited to 2 small shops. There is no airport, you can only get there by boat. It also takes so long to buy or rent anything you will probably give up after 3 months. Also there is no way you can get enough land to support yourself as the place is tiny.
Sark was the last feodal regime of Europe and because of Barclay's brothers, they put pressure on EU to make it disappear.. Shame.., been there, the island is incredible, no cars, quiet place, beautifull landscape and sea... and most of all, very nice people and a beautifull flag !
I’m afraid Andrew actually oversimplified this one; in Sark, monarch’s actual title is “Chief Seneschal”. In countries that still have formal aristocracies, “Lord” is just a generic designation for a person who possesses a lordship over something (as well as being a mode of address); it doesn’t indicate what the lord’s actual title is.
I just went to Airbnb out of curiosity to see the rental rates for a room in someone's home, an apartment or a whole house. Prices began at $3,000 up to $10,000+ per month. Looks beautiful, but I'll stay here in Subotica, Serbia for $342 a month. Ha!!! Sark will be in my dreams though.
With Air Space in Europe closed as part of Sanctions against the country involved in Genocide and Crimes against Humanity and countries that support Genocide and Crimes against Humanity, also the threats against the Judges in the Court in the Hague, the Hague, Holland & Europe, people from US would be best to avoid & any that are in Europe are best to leave. The Air Space & Sea lanes closed.
@@blueocean2510 Which country are you talking about? Only one country comes to mind right now, speaking of genocides and crimes against humanity, but how is that relevant to a comment/post about Serbia?
Thanks for the tip. I have a company in the Isle of Man and Sark looks interesting to relocate to, however, property prices in Sark are in the millions of pounds, and rent is significantly higher than living in the Isle of Man/ Mainland UK
Sounds like an appealing place to sail to... Although I might risk getting high speed chased by mounted police because there is no way I'm paying a bicycle tax.
Well, you get what you pay for and with absolutely 0 tax there's no hospitals, roads, schools or any public service. You can say you're fine with that but I don't think non-existent tax is good for most people. Ideally low tax in the teens would be preferable.
@@riptyurass302 So there would be none of the things that you claim without income taxes that were around before income taxes? Schools, colleges, hospitals, etc. were around, as were roads. You see, gubment crowds out private solutions all the time and then people start to think that gubment is where all those things come from. Today there are private hospitals, and most hospitals for that matter are not funded by taxes. They are funded by patient visits, large donors, and other sources. Same with some schools. You literally argued by dropping a list of things that were done privately before gubment crowded some of it out and still, everything in your list still has some non-gubment options out there. But of all the things that gubment does do, private industry would to better and cheaper. Government has, or at least think they have, and endless money supply. Of the private sector solution isn't profitable they fail. If they aren't giving people what they need they get taken out by competition. People, not gubments, used to pay for schools, build hospitals, libraries, colleges, etc. Tax revenues should all come from sales tax or tariffs AND gubment should be lean and mean and only need to tax maybe 15% sales tax and have low tariffs to keep imported goods priced affordably.
@@riptyurass302 Taxes no longer are used for building hospitals, roads, schools etc. This used to be the case before fiat currency and quantitative easing. Nowadays taxes are just burnt repaying government debt interest. To build roads, hospitals and schools the government just prints more money, kicking the inflation ball further down.
@user-vl6xt2rt7p I thought I read that the Queen Elizabeth II had decided last few years of her rain that the royal family would pay taxes and they started that
Only good for the mega-rich as property is very expensive and the min. bank account that you must also have to get residence is more than most people have (in the millions). Also, Andorra rolled over and complied with external demands (from high-tax countries) to implement income taxes. They could have said no but given they chose to comply, most of the benefits are gone. If Andorra try to say no to such countries now, the response would instantly be "you can't say no, you did what we said before" followed by "we'll force you with sanctions". Sure Andorra is beautiful, has great shopping as far as the big fancy brands go, great skiing, etc. but can you really trust them to not increase taxes or have similar issues for citizens of certain countries (like how French citizens are forced to pay full French taxes, even if they fully like 100% of the time in Monaco)? For those who could afford Andorra (a country in which many will never be anything more than a resident), there are many options with zero taxes where those same people can become citizens either by CBI or through naturalization. Most mega-rich people simply visit Andorra for shopping and skiing but live elsewhere the rest of the time.
Sark sounds lovely. Build a Hobbit house in the landscape and make some tax-free babies with the locals, all while enjoying some mead directly from the cask and local artisan cheeses & cuisines.
The thing is worldwide as an investigator I will know where your money sits. One day I got an order to investigate on a financial flow of a company. I did not have to move for that. In the world trade center library you will find the money flow of any company. Just takes an hour or so. And I can investigate anonymously on any company. So they will know where you drop your cash. I do not need banking info for that. It is common good that channel islands are a tax heaven. In Europe I would first search there before Monaco or Andorra.
Nice! I ate at the Michelin star chicken rice place in Singapore. Which was the cheapest Michelin star place at the time. Might have to finally go to Mexico City to try these tacos! 🌮
There maybe one home available or none, given its size. Once has to keep travelling in all other places not to clock 183 days in any jurisdiction. It is an impossible to migrate place.
Currently you do not have to spend a single day in Sark to be resident - as long as you rent/buy a property and it is available for your own use and you pay the property tax. They are talking about introducing a 90 day resident rule because they get annoyed by ghost residents that add nothing to the island community, but nothing has been done so far.
@@RAMBO-OO7-ARNIE I think it’s sort of strange to be considered a resident when you’re not really a resident. . If I was in that community, I would be annoyed too if there was all these empty houses, rental or owned and nobody living in them, especially since it’s a very small island.
Your residency is usually where you reside, where your personal and working life takes place. It is not something formal, except if you are from the US.
Yes good weather in summer, but very cold all year. I lived in guernsey 5 years and visited sark multiple times, maybe if you work for the main hotel there you could save a bit.
@@nomadcapitalist Andrew, you didn’t mention the possible route to follow for Africans? Unless this doesn’t benefit citizens within the BRICS jurisdiction
Would be interesting to know how complicated it is to get a building permit on Sark. My uneducated guess is it's not worth it. Across EU in general it's quite complicated. I don't think any millionaire would like to live in a shack
You can get this only if you qualify for "local market" properties, which you do after 15 years residence in Sark. Otherwise you can only rebuild an old property from before 1973
And the local builders don't like competition. You don't get work, even if you're good & qualified. Or are better than them. They seem to employ locals preferably.
lol u can’t survive in sark people, I lived in guernsey and frequently went to sark just to walk around and enjoy the beach. Guernsey itself is boring at some point which is 66k plus inhabitants
My folks came from there, an old Norman property still a direct Ducal rule, they had real feudal homage there until the 70's, payed in kine, real life ! Has its own currency better than the pound .
@@MarkRose1337 for people that are use to living in cities and have a certain lifestyle, like I worked and lived in guernsey, loved it there to some degree, but a lot other things was lacking. No good friendship connection, u can’t decide to just leave the island and go somewhere else to see close connections, so this factors contribute a lot
@@MarkRose1337 don’t get me wrong am getting to a place on my life where I really love that kind of quiet life but for that to happen I would need someone or a few people I can build a solid connection with on such island
That seems like a lot of trouble. Here in the U.S. we pay a little under $3,000 for property taxes, sales taxes and gasoline tax combined. Nothing for income tax, nothing for long term capital gains/qualified dividends and thanks to forward thinking tax planning, nothing in the future either. I have no need for business, other than whatever monkey business I feel like getting up to and since our need of spending is low, building wealth completely tax free is an easy affair.
@@liquid_metal My personal record is $88K of gross income with no taxes when I sold a residential lot. Otherwise how I do it is to maximize the form 8880 retirement saver's credit which bumps my tax free zone up from the standard deduction. Additionally I'm working a long term tax plan with a good sized Roth conversions each and every year. The thing to realize is that the type of income matters more than anything else. Social security is only partially taxed depending upon your provisional (other) income and only up to 85% is taxable. If you keep yourself in the 12% tax bracket long term capital gains/qualified dividends have a 0% tax rate.
also European banks do report yor money flow to the tax services. I dropped 20000 euros on a account in two stages. The tax man came along after 9 months. So in Europe there is no banking secret.
this is very very interesting. im looking to escape the uk taking my business to a better place for growth.. so someone from the uk can just rock up in sark and say i want to live here and thats it ? go rent a place?
If you pay tax on your property then you don't really own it. And it's also huge . There are still places in Eastern Europe where property tax is really really small, not for long probably.
There is hardly any roads on Sark maybe only one so no one would need a scooter or Segway anyway. I had been to Jersey before and Sark is even more isolated, like on the video you can only get there by a boat or ferry and if the weather in the channel is bad, they’re stuck there.
@@enjoystraveling As a german: It is a shame, that is big enough for a parking lot, a highway (a small one) and a racing track, so it should have all of them.
Mortgage the house, make it an 'airbnb', use the house as an airbnb when you go there. Mortgage is an expense. Airbnb an income. You're not making a profit in the UK. When it comes to inheritance tax. Well you pay tax on asset less liabilities in the UK. That's zero.
Well if you like rain and humid weather go for it. Personally I prefer Arizona or Southern California 🌞 even if you have to pay taxes. Quality of life is key...
what kind of DTA protects me from the CFC rules? no DTA. There is a stupid basic tax haven like Monaco. Living in Shark does not protect against taxation in the home country if there is a right of permanent residence
All the talk of increasing the population to 1000 /1200 is pie in the sky. A recent water survey in Sark shows there is only enough water to sustain a maximum population of around 700/750 .
If you want to live on low tax British overseas territories that are located in Europe, Gibraltar is much better. Nice weather and low teens corporate tax with a lump sum personal income tax
Bro just single handedly overpopulated a whole island with one vid
Yes! My friends and I are already planing this 😂
🤣
Funny...as much as taxation is abhorred, you'd think people would force the governments to get rid of taxes.
@@alexcameron2880 too many people buy into propaganda, sadly. And once people get into government, they enjoy other people's money too much to do anything about it
@@alexcameron2880Force the government? What do you think this is?
population before this video: 500. Population after this video: 500,000
The island can’t hold that many people and most people wouldn’t do out without their cars another conveniences. For me, I would like an island with bicycles and horses mostly
bro did em bad
Yes!
@newforestpony9567agreed. Walking and public transit is far superior to cars
@@enjoystraveling Mackinaw Michigan
500 alcoholics clinging to a rock :), that was how a local described Sark to me when I worked in Guernsey many years ago. Never did get around to visiting.
Sounds like an average Saturday night in alot of places I know.
Something tells me I would fit right in 😂
I bet some fine claret and brandy was imbibed to attain the alcohol levels though
hilarious description. very british.
😂
Even as a geography buff, I’ve never heard of Sark. Great find.
Sark is like stepping back 100 years.
It's beautiful
I was there last month looking at property(with the only estate agent there) the property system there is like nothing elsewhere, very complicated. Only a few properties on the open market, which are available to people not born on the island. The tax system there is complicated. They do levy a wealth tax in which you voluntarily admit your global assets(you don't have to, but if they find out tou have more they will investigate) No serious medical facilities, they're ambulance is a tractor with a "medical box" attached. Maybe 3 restaurants worth visiting, so not all sunshine and roses. You also pay tax based on the value of your property in Sark.the likes of Abromovich have used it in the past as a tax haven.
One of the more realistic comments on here about Sark. I live in Sark. Most people coming here don't do their homework properly & have highly unrealistic expectations & are misinformed.
@@shunter8888 Exactly - everyone seems to think that all these tax havens are sunny resorts. There's a reason that there's only like 500 people there.
@@shunter8888No cars, only 500 people, more sunshine than the U.K. Sounds ideal
This channel is a hidden gem.
Truly!!
Are you being sark-astic?
Jes, jes he is
❤
😂😂😂
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either...
That’s very common in India since time immemorial. You Americans / Europeans are just cry babies 🤣
The whole aim is 'they will own nothing and be "happy"... or else!'
Van life baby!
Why do you think the kids love it so much!
There are taxes if you buy a home on Sark. A property transfer tax of 7.5% was implemented on Sark from January 1, 2024. Since most homes for sale are around £750,000, the tax would be a whopping £56, 250 !!
Or 19% in Ukraine on your 2nd home
@@Mpg972fuck ukraine
Also worth mentioning: Sark has internet and you can use your smart phone normally.
@newforestpony9567 You can use Elon Musk's Starlink
@reneket2295 LOL!!!
to even make such a statement makes it sound like one is visiting a very strange place.
I don't know if just sounded really funny.
I was certainly wondering just about that
Thank you. Literally the only question I had.
Lived there for some time. Tax situation is good, island is beautiful, aside from the trash-burning nearby the harbor. You can see the social dichotomy (people with and without teeth) and it is sometimes hard to plan trips. Always book refundable tickets for planes etc., since you cannot be sure that the ferry goes because of (unforeseen) weather issues.
owning a property in any european country now is a disaster. Not only is it expensive and being targetted for the "own nothing and be happy", but they also use it to claim you're still resident.
no. houses in southern europe are still fairly cheap. And yes residents have to pay different taxes. If you are not a resident then it should be possible to prove that?
@@mradventurer8104 just the fact of owning a house is enough some places for them to say you are resident. Denmark, for example, requires you to sign a form saying you'll never stay overnight there again!
always buy homes using a company structure.
@@mradventurer8104 owing a house under personal name is primary tie factor to the country that they can claim you are a tax resident even if you stay that country 0 day a year.
what structrure in what jurisdiction works to be able to have a house and not be screwed over?@@user-to4iq4bq9g
Tax on bicycles?
Get a TRICYCLE.
or a unicycle
As Andrew said, Charming.
Or a jet pack
I visited Sark to investigate after this video! It's not the paradise it's made out to be. Facilities on island are majorly lacking. Water heavily polluted with copper. Politics is intense. More restrictive laws than there are people on the island. It really is not the "libertarian haven" it's marketed as. Real estate situation is dire. You could wait years for a freehold property to come to market, and leasehold situation is not ownership - it's a longterm rental with all responsibilities of ownership. Some places for "sale" require you to renovate a property at your own expense and give property back to land owner within 10-15 years.
As beautiful as the island is, and as nice as the community spirit and living is... Sark has a long way to go if it's going to attract more residents to the island.
Thank you for sharing that. Great information and good analysis. The reality of what's really happening boots on the ground. This is why I'm looking into Panama. To me the ideal place to live is not just a financial Haven but it's clean food clean water and freedom along with beauty and if you can't have that then how can you feel like you've been treated your best
tax rules have already been changed after Apple's era of not paying real taxes in Ireland from European profits, CFC rules apply, stricter residency determination applies
Yeah, this guy lives with rose-colored glasses on. Acts like Columbia is super safe and some other shady places (only lives in rich city centers for a few weeks out of the year that 😂).
So cool that you actually went there! Any examples of the bad laws? You must be travelling a lot right?
@@DeadWaits Not only did we go. We have just agreed to rent a property there. Not so much "bad laws", it's the over regulation. Sustainable spear fishing is illegal. Fines for riding a bike down a hill. Motorized transport not allowed other than tractors, (which are heavily regulated and limited ). Purchasing anything other than freehold property is ridiculous. Strict drug laws etc etc Tax haven = yes. Libertarian = no.
Sark has tax. It's not high, but it has tax. It doesn't have water mains, sewage, and all electricity comes from centrally owned diesel generators, it's illegal to have your own. It doesn't have cars. Shopping is limited to 2 small shops. There is no airport, you can only get there by boat.
It also takes so long to buy or rent anything you will probably give up after 3 months.
Also there is no way you can get enough land to support yourself as the place is tiny.
😂 it went from from paradise to hell
There's always a catch!
@@Condorcet2011 well, most islands are hell, why do you think most regular people are escaping from the Caribbean))))
Sark was the last feodal regime of Europe and because of Barclay's brothers, they put pressure on EU to make it disappear..
Shame.., been there, the island is incredible, no cars, quiet place, beautifull landscape and sea... and most of all, very nice people and a beautifull flag !
New goal unlocked 🔓: Lord of Sark
😂😂😂
500 people population everyone incest! lol
Sark is super small you will not get happy
I’m afraid Andrew actually oversimplified this one; in Sark, monarch’s actual title is “Chief Seneschal”. In countries that still have formal aristocracies, “Lord” is just a generic designation for a person who possesses a lordship over something (as well as being a mode of address); it doesn’t indicate what the lord’s actual title is.
You think the Seigneur of Sark is going to sell his castle?
I just went to Airbnb out of curiosity to see the rental rates for a room in someone's home, an apartment or a whole house. Prices began at $3,000 up to $10,000+ per month. Looks beautiful, but I'll stay here in Subotica, Serbia for $342 a month. Ha!!! Sark will be in my dreams though.
With Air Space in Europe closed as part of Sanctions against the country involved in Genocide and Crimes against Humanity and countries that support Genocide and Crimes against Humanity, also the threats against the Judges in the Court in the Hague, the Hague, Holland & Europe, people from US would be best to avoid & any that are in Europe are best to leave. The Air Space & Sea lanes closed.
Aaah Subotica is beautiful!!
@@blueocean2510 Which country are you talking about? Only one country comes to mind right now, speaking of genocides and crimes against humanity, but how is that relevant to a comment/post about Serbia?
@@SRB_SYNDICATE yup
Sark! Who would have thought? Radical! Love it.
Thanks for the tip. I have a company in the Isle of Man and Sark looks interesting to relocate to, however, property prices in Sark are in the millions of pounds, and rent is significantly higher than living in the Isle of Man/ Mainland UK
Sounds like an appealing place to sail to... Although I might risk getting high speed chased by mounted police because there is no way I'm paying a bicycle tax.
this is what taxes should be... virtually non-existent
Well, you get what you pay for and with absolutely 0 tax there's no hospitals, roads, schools or any public service. You can say you're fine with that but I don't think non-existent tax is good for most people. Ideally low tax in the teens would be preferable.
@@riptyurass302Most of these can be accomplished privately if people want them.
@@riptyurass302
So there would be none of the things that you claim without income taxes that were around before income taxes?
Schools, colleges, hospitals, etc. were around, as were roads.
You see, gubment crowds out private solutions all the time and then people start to think that gubment is where all those things come from.
Today there are private hospitals, and most hospitals for that matter are not funded by taxes. They are funded by patient visits, large donors, and other sources.
Same with some schools.
You literally argued by dropping a list of things that were done privately before gubment crowded some of it out and still, everything in your list still has some non-gubment options out there.
But of all the things that gubment does do, private industry would to better and cheaper. Government has, or at least think they have, and endless money supply. Of the private sector solution isn't profitable they fail. If they aren't giving people what they need they get taken out by competition.
People, not gubments, used to pay for schools, build hospitals, libraries, colleges, etc.
Tax revenues should all come from sales tax or tariffs AND gubment should be lean and mean and only need to tax maybe 15% sales tax and have low tariffs to keep imported goods priced affordably.
@@BbTennAmerican hospitals are private and are significantly more expensive than pretty much anywhere else. It's unaffordable
@@riptyurass302 Taxes no longer are used for building hospitals, roads, schools etc. This used to be the case before fiat currency and quantitative easing. Nowadays taxes are just burnt repaying government debt interest. To build roads, hospitals and schools the government just prints more money, kicking the inflation ball further down.
you got me at 'introvert' LOL
I have sailed to Sark a couple of times ... Lovely place but only a handful of people and not much to do. Guernsey or Jersey have a bit more going on.
I’ve been to guernsey and sark - great places, especially if you want to get away from it all.
The English Royal Family keep their money there. That is why it's tax-free.
i thought the Isle of Man
Buried treasure or that famous billion pound note?
@user-vl6xt2rt7p I thought I read that the Queen Elizabeth II had decided last few years of her rain that the royal family would pay taxes and they started that
Reign I meant not rain
Fact: The British royal family only pay taxes they want to pay.
We went on holiday to Sark when I was a kid. Beautiful place.
Would please also talk about any country that wouldn't do 2030 schedule plan?
I am French and I have never heard of that island, Oh MY!
Qu'est-ce que vous avez entendu dire ?
@@MarinaLaroche rien du tout lol, Andrew m’apprend des choses
Pas à s'inquiéter, moi non plus....
I've never heard of Sark before. If the locals are known as Sarkastics then I'm on the next flight
😂😂😂😂
Why you never talked about Andorra before? It's a nice place
Real state too expensive
@@SamiNami ski 🎿 and snowboard 🏂 during winter I guess some hiking during the rest of the year
Andorra practically still work under France thumb.
@@SamiNami it's convenient for retirees
Only good for the mega-rich as property is very expensive and the min. bank account that you must also have to get residence is more than most people have (in the millions).
Also, Andorra rolled over and complied with external demands (from high-tax countries) to implement income taxes. They could have said no but given they chose to comply, most of the benefits are gone. If Andorra try to say no to such countries now, the response would instantly be "you can't say no, you did what we said before" followed by "we'll force you with sanctions".
Sure Andorra is beautiful, has great shopping as far as the big fancy brands go, great skiing, etc. but can you really trust them to not increase taxes or have similar issues for citizens of certain countries (like how French citizens are forced to pay full French taxes, even if they fully like 100% of the time in Monaco)?
For those who could afford Andorra (a country in which many will never be anything more than a resident), there are many options with zero taxes where those same people can become citizens either by CBI or through naturalization.
Most mega-rich people simply visit Andorra for shopping and skiing but live elsewhere the rest of the time.
Must be hard to have a business there that requires any regular delivery of materials
Before he said Sark which I have never heard of I thought he was going to say Svalbard.
The only problem is there is no houses available
The Barclay Brothers live in Sark (technically on the neighbouring offshore island) and they're not popular with the other inhabitants.
I lived in Sark for a few years c.30 years ago. It was an interesting experience.
I'lll probably be here in the US until the last, but I love your broadcasts.
Sark sounds lovely. Build a Hobbit house in the landscape and make some tax-free babies with the locals, all while enjoying some mead directly from the cask and local artisan cheeses & cuisines.
You are wet behind the ears... LOL
Tax free babies. Seriously. What does this have to do with anything. This isn't Brazil.
I doubt the dating pool is very good out there. Everyone young and single probably left
Anyone remember Cutty-Sark?
The thing is worldwide as an investigator I will know where your money sits. One day I got an order to investigate on a financial flow of a company. I did not have to move for that. In the world trade center library you will find the money flow of any company. Just takes an hour or so. And I can investigate anonymously on any company. So they will know where you drop your cash. I do not need banking info for that. It is common good that channel islands are a tax heaven. In Europe I would first search there before Monaco or Andorra.
Andrew, did you see that a taco stand in Mexico City got a Michelin star (unprecedented)? Taqueria El Califa de Leon. Is that "your" taco place?
It’s about time, street tacos are some of the very best food on the planet!
Nice! I ate at the Michelin star chicken rice place in Singapore. Which was the cheapest Michelin star place at the time. Might have to finally go to Mexico City to try these tacos! 🌮
The History of the Channel Islands is quite fascinating. It goes all the way back to the Angevin Empire.
great informative video! I had never heard about Sark until now.
I never heard of Sark,interesting
Basic British geography.
There maybe one home available or none, given its size. Once has to keep travelling in all other places not to clock 183 days in any jurisdiction.
It is an impossible to migrate place.
Could you set up Sark as your tax residency without actually living there, as long as that is the only place where you have assets in your name?
Currently you do not have to spend a single day in Sark to be resident - as long as you rent/buy a property and it is available for your own use and you pay the property tax. They are talking about introducing a 90 day resident rule because they get annoyed by ghost residents that add nothing to the island community, but nothing has been done so far.
@@RAMBO-OO7-ARNIE I think it’s sort of strange to be considered a resident when you’re not really a resident. . If I was in that community, I would be annoyed too if there was all these empty houses, rental or owned and nobody living in them, especially since it’s a very small island.
I’d have to look it up again, but I believe you can get around the whole island and less than a day just by walking.
Your residency is usually where you reside, where your personal and working life takes place. It is not something formal, except if you are from the US.
I can confirm the weather in the UK is 89% dog Sh*t.
98%*
Thats a myth.
Specially the south-west of UK has "France" weather with palm trees everywhere.
Sark is only 30km from France.
@-pg6767google “English riviera beaches” and click on images
I would be more than happy to be invited to financially contribute to worth while government projects. That would be reasonable and fair..
Yes good weather in summer, but very cold all year.
I lived in guernsey 5 years and visited sark multiple times, maybe if you work for the main hotel there you could save a bit.
Thank you so much. This is gold!
You're very welcome!
@@nomadcapitalist Andrew, you didn’t mention the possible route to follow for Africans? Unless this doesn’t benefit citizens within the BRICS jurisdiction
Would be interesting to know how complicated it is to get a building permit on Sark. My uneducated guess is it's not worth it. Across EU in general it's quite complicated. I don't think any millionaire would like to live in a shack
You can get this only if you qualify for "local market" properties, which you do after 15 years residence in Sark. Otherwise you can only rebuild an old property from before 1973
And the local builders don't like competition. You don't get work, even if you're good & qualified. Or are better than them. They seem to employ locals preferably.
lol u can’t survive in sark people, I lived in guernsey and frequently went to sark just to walk around and enjoy the beach. Guernsey itself is boring at some point which is 66k plus inhabitants
My folks came from there, an old Norman property still a direct Ducal rule, they had real feudal homage there until the 70's, payed in kine, real life ! Has its own currency better than the pound .
Why not? I have family that lived on islands with fewer than 10 people, and no stores.
@@MarkRose1337 for people that are use to living in cities and have a certain lifestyle, like I worked and lived in guernsey, loved it there to some degree, but a lot other things was lacking. No good friendship connection, u can’t decide to just leave the island and go somewhere else to see close connections, so this factors contribute a lot
@@Godsmustbecrazi3 That's fair! I am somewhat used to extensive travel to see people, so taking a boat to get off Sark wouldn't bother me.
@@MarkRose1337 don’t get me wrong am getting to a place on my life where I really love that kind of quiet life but for that to happen I would need someone or a few people I can build a solid connection with on such island
Well that island is an improvement from Canada
That seems like a lot of trouble. Here in the U.S. we pay a little under $3,000 for property taxes, sales taxes and gasoline tax combined. Nothing for income tax, nothing for long term capital gains/qualified dividends and thanks to forward thinking tax planning, nothing in the future either. I have no need for business, other than whatever monkey business I feel like getting up to and since our need of spending is low, building wealth completely tax free is an easy affair.
@@liquid_metal Not a penny for federal nor state.
@@liquid_metal My personal record is $88K of gross income with no taxes when I sold a residential lot. Otherwise how I do it is to maximize the form 8880 retirement saver's credit which bumps my tax free zone up from the standard deduction. Additionally I'm working a long term tax plan with a good sized Roth conversions each and every year. The thing to realize is that the type of income matters more than anything else. Social security is only partially taxed depending upon your provisional (other) income and only up to 85% is taxable. If you keep yourself in the 12% tax bracket long term capital gains/qualified dividends have a 0% tax rate.
No worries, they don’t want or need you there anyway 😏
@@Wizerud Lol, what an odd thing to say. Funny too as apparently they love welcoming people with assets and lots of disposable income.
Thank you Andrew, really interesting
There is a property tax.. Sark quarters, a quarter is based on floor area
And surprise surprise, taxes could be introduced in a few years.
We regularily hit over 30c in UK summer now, on the mainland fyi :) Great vid thanks
Whereabouts aroud you in the UK? In my UK it has been raining since the day just after the last hose ban, is the universe sending us a message?
I worked in sark. Brown envelope every friday.
I lived in Jersey and no one I know would move to Sark - no cars hard to access and small
What about San-Marino as tax-friendly place?
Don't know, but they have been run by communists in recent memory.
Great video. Getting your book
Awesome, share your thoughts after reading it!
also moving your business outside EU borders does not exempt you from EU tax investigation. I have a very nice example in gol trade.
____Asm sounds like a tricky island. Kul concept though. Kind regards.
That's amazing and I'm sure it will cause a stampede to Sark. But are there actually a surplus of houses to buy or rent?
We are so messed up, that we think 500 people can't manage themselves, without raising taxes. God have mercy.
also European banks do report yor money flow to the tax services. I dropped 20000 euros on a account in two stages. The tax man came along after 9 months. So in Europe there is no banking secret.
this is very very interesting. im looking to escape the uk taking my business to a better place for growth.. so someone from the uk can just rock up in sark and say i want to live here and thats it ? go rent a place?
Ty for making this
If you pay tax on your property then you don't really own it. And it's also huge . There are still places in Eastern Europe where property tax is really really small, not for long probably.
Cool. Do they have a large, convenient shopping mall? Or do you grow your own lettuce and catch fish etc
Are citizens from the Commonwealth of Native exempt from the business investment requirement
Hi @Nomad Capitalist, can you talk about the conditions in Andorra? Thanks
You can read our blog about it: nomadcapitalist.com/global-citizen/andorra-tax-residency/
Is it a studio or your apartment? How do I get the same interior design? Please share your designers contact
Great video!!
Strange how you say no cars allowed , however after looking at properties online in Sark , half of the properties have cars ?
No they don't. Only vehicles are farmers tractors.
Tax on Horses and Bicycles? And no cars? This is 2025 - Scooter and Segway ;) Done. How do they define car? I mean, trike?
Alas they just have to tax something, it's the mongol blood , are not these government bodies little mosquitoes
My horse is literally named Scooter.
There is hardly any roads on Sark maybe only one so no one would need a scooter or Segway anyway. I had been to Jersey before and Sark is even more isolated, like on the video you can only get there by a boat or ferry and if the weather in the channel is bad, they’re stuck there.
@@enjoystraveling As a german: It is a shame, that is big enough for a parking lot, a highway (a small one) and a racing track, so it should have all of them.
How's the highspeed internet connection?
Think Starlink or Sat phone.
You had me at "introverts".
Mortgage the house, make it an 'airbnb', use the house as an airbnb when you go there. Mortgage is an expense. Airbnb an income. You're not making a profit in the UK. When it comes to inheritance tax. Well you pay tax on asset less liabilities in the UK. That's zero.
what hapen if you get injured on the island, were there be a doc to come for free😉
@nomadcapitalist where would your no. 2 place be in Europe?
Sark, here I come! 💯👍🏻
Well if you like rain and humid weather go for it. Personally I prefer Arizona or Southern California 🌞 even if you have to pay taxes. Quality of life is key...
You crashed the Sark estate agent website.
Is there internet connection on this island???
It´s in Europe, but outside EU. So with that said it´s ecual to any other country with 0/low taxes that have much better climate in the world.
What do you do for healthcare or if you need police? Do these services exist without taxes?
No. But don't need police in a community where everyone knows each other.
@@stephenday4834 you would hope so but who knows what kinds of people will show up in the future after this video
what kind of DTA protects me from the CFC rules? no DTA. There is a stupid basic tax haven like Monaco. Living in Shark does not protect against taxation in the home country if there is a right of permanent residence
Interesting idea. If you have your own catamaran it's probably really interesting idea to live there as an expact. Thank you for information.
Thank you for your feedback!
Does Amazon deliver over there ?
All the talk of increasing the population to 1000 /1200 is pie in the sky.
A recent water survey in Sark shows there is only enough water to sustain a maximum population of around 700/750 .
Neptun also seems to be tax free. Bonus points, it's free from humans and cars. Great escape.
If you want to live on low tax British overseas territories that are located in Europe, Gibraltar is much better. Nice weather and low teens corporate tax with a lump sum personal income tax
Top tier presale just begun. I think Cortux is one of the most promissing projects year to date.
As a retired senior citizen the only tax that concerns me is property tax.
I think we ought all to get scared, when you see they are planning to tax driveways and gardens.
@@BoominGame and unrealized gains. Your property tax assessment goes up. Now you also owe IRS unrealized capital gains tax of 25%!
How much do you need in the bank initially?
Me my backpack, bicycle and 200,000 pounds.
Annual sheep racing is a great day out!