“Hollande, who is tipped in polls of voting intentions to beat conservative incumbent Nicolas Sarkozy in a May 6 run-off, announced the 75 percent tax rate plan in late February and has since said it is a symbolic measure that would hit about 3,000 people and generate around 200-300 million euros a year.”
http://www.reuters.com/article/2012/04/10/france-election-tax-idUSL6E8FA4LP20120410
75 percent income tax? Wtf?
In other news, “one in five affluent Britons plan to leave the country in the next two years.”
http://blogs.wsj.com/wealth/2012/04/16/do-higher-taxes-drive-out-the-rich/
It is unclear if taxes are the main reason, though they are probably one reason.
if you’re going to tax someone 75% might as well screw his wife too…75% is sorta like a nice version of Cuba…
I would give up my citizenship asap
Cuba with better cheese, I guess.
I’ve been wondering this for some time but have not done the homework. If you are going to renounce your citizenship in a major developed country – the US / England / France (not a major developed country, but let’s pretend), etc., where would you look to get new citizenship? It can’t be another developed country with a bad balance sheet if you are trying to avoid taxes.
Can anyone help me out?
Requirements:
Favorable tax rates
Decent place to live (I’m not that picky, but no worn torn nations, etc.)
Must have some English speaking population
Actually eligible to gain citizenship in some reasonable time frame without sponsorship (not a decade)
No crazy requirements for citizens (I’m not going to serve in the military for some other country, etc.)
Thoughts? There has to be one somewhere.
How is Canada’s balance sheet, eh?
Hmm. I think it depends on whether or not you have to work. If you have to work, any tax savings from moving will likely be offset by lower income. If you already have a large amount of capital, cultural differences might end up being more important than the savings. For instance US -> France is a big lifestyle change. Some people might not feel comfortable in a new place, even with more desireable taxes or benefits.
But I guess if you really wanted to move, intra-EU might be practical due to (presumed) ease in getting visas. Otherwise, many developing countries are receptive to immigrants from Western countries. I don’t know if you can get citizenship, but at least you can live there. Lots of them speak English too - because of that whole deal with Britain conquering everyone at one point.
Canada or Australia for you.
Belgium or Switzerland for the French.
Cayman Islands
Monte Carlo?
If you’re looking to avoid high taxes, Canada’s not where you want to move to…
Try Kenya, quite a no. of American Expats.
"What makes Kenya truly unique and adventurous as per Mr. Dry: During one of his adventurous tours of Kenya’s wild countryside, a lion came close to entering his tent because of a friend’s loud snoring. “We were on a family outing with a friend who snored so loudly that a lion came by mistaking it for a wounded wildebeest. Where else do you find that? This is the gem that many out there do not and may never realize or experience until they land here and are immersed into it!!”
Isn’t it relatively difficult to get citizenship in Australia?