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The crazy story of how Norway🇳🇴 gifted 5,000 millionaires and $100s of billions to Switzerland🇨🇭in just 2 years: In 2022, Norway raised its wealth tax to 1.1% (highest in Europe) and its capital gains tax to 38% (2nd highest). It made it virtually impossible to preserve wealth in the country and forced Norwegian millionaires out of the country. Here's how: If you have $100m in taxable wealth (to pick a round number), you need to pay $1.1 million in wealth tax each year. But where do you find that $1.1 million? Well, you have to sell off assets. But if you sell $1.1 million of assets, this triggers a 38% capital gains tax, leaving you with just $682k (not enough to pay the wealth tax). So you have to sell MORE assets. To pay both the wealth tax AND the capital gains tax on the money you were forced to raise, you actually have to sell assets worth closer to $1.8 million. Then you need to pay the entire $1.8m to the government - JUST TO KEEP THE MONEY YOU ALREADY PAID TAX ON WHEN YOU MADE IT IN THE FIRST PLACE. In other words, if you do nothing, you lose 1/50th of your wealth every year. And this doesn't even account for inflation or bear market years. It often also means losing control of your company, since you have to sell shares every year. And if you're a startup unfortunate enough to get investment at a high valuation, you will have to borrow money just to pay tax on money you haven't even earned yet! So, 5,000 Norwegians understandably moved to Switzerland, including 500 of the richest people in the country. And the ones who didn't leave in time, hoping for cooler heads to prevail, got punished severely. Because when the government saw what was happening, they introduced an EXIT TAX (effectively a financial Berlin Wall). So now, if you want to leave Norway, you have to pay 38% of the market value of ALL YOUR ASSETS. And the worst part is that the Norwegian government doesn't even need this tax money in the slightest. Because thanks to enormous oil and gas revenue, only about 18% of the government's revenue comes from taxes paid by private citizens. And only a fraction of that from wealth tax. Norway also has the world's biggest sovereign wealth fund, today worth $1.6 TRILLION, or $320,000 per Norwegian. Even if Norway didn't collect a single dollar in tax, it could still fund government spending for a decade using the money in that fund. The Norwegian government does not need the money. It is simply greedy and spiteful. Why would anyone EVER build anything in Norway? This is how you destroy the private sector as fast as possible. I suspect this is what this government ultimately wants since they can then control the remaining population with handouts. Some loopholes still exist, but they are closing fast. If you're a Norwegian who wants to get out of this abusive relationship, let me know, and I will put you in touch with people who can help.

$200k buys you: 6m² in Hong Kong🇭🇰 15m² in Seattle🇺🇸 24m² in Mumbai🇮🇳 33m² in Calgary🇨🇦 49m² in Belgrade🇷🇸 65m² in Mexico City🇲🇽 78m² in Baghdad🇮🇶 86m² in central Buenos Aires🇦🇷 Does BA being cheaper than Baghdad seem normal to you? This historical aberration will not last.

Djokovic knows how to play the game, and I'm not talking about tennis: First, he resided for 15 years in tax-free 🇲🇨Monaco. In 2020, he bought a family home in 🇪🇸Marbella, but in the same year, he became a golden visa resident of tax-free 🇦🇪Dubai. Take one guess which of those two jurisdictions he made his "center of vital interests." Now he's just moved to Greece on a golden visa, likely using that country's €100k flat tax regime (valid for 15 years). I wouldn't be surprised to find he has a 🇵🇦Panama foundation or a 🇨🇰Cook Islands trust protecting his assets. And a guy like him can get citizenship by merit in practically any country he wants. World's best tennis player. COVID-tyranny dissident. Sovereign individual.

Foreigner opening bank account in 🇵🇹Portugal: 13,247 documents Months of KYC/AML 2h wait at bank to speak to rep Open 10:00-13:00, Mon-Fri 🇵🇾Paraguay: Give ID, email, phone Open 24/7 (yes, really) More reps than customers 5 mins later: “Welcome aboard!”

The world's richest Norwegian, John Fredriksen, is worth $17 billion. He left Norway for UK non-dom tax residency in 1978. Now, he says, the UK "has gone to hell, just like Norway." He's moving to the UAE. "The whole western world is going downhill fast."

My daughter was born into 4 citizenships. She enjoys visa-free travel to 91% of the world🌎 And the right to live permanently in 39 countries. She'll be fluent in 4 languages spoken by 2.3 billion. Plus, she has her daddy's laser eyes. She'll be alright.

If you want visa-free EU travel, don’t get Caribbean citizenship 👇 There's no need to get a €500,000 Portugal Golden Visa either. Don’t even get a €60,000 Latvia Golden Visa. Just get Spain’s Digital Nomad Visa for €150. ✅ No tax in Spain unless you stay 183+ days a year ✅ No minimum stay (unless you want PR) ✅ Travel up to 6 months a year in the EU Visa-free EU travel isn't expensive.

Seen a lot LatAm bros “discover” SEAsia recently. I spent a lot of time in both regions. Similar climates, prices, population sizes, dating markets. The trade off: You will never be “safe” in LatAm. You will never “belong” in SEAsia.

Hear me out: 6 Signs 2023 Could Be the Year to Invest in Venezuela 🧵 If you’re thinking, “Why would anybody invest in Venezuela?”, you’re not alone. 20 years of socialism, world-record homicide rates, and systematic kidnappings have shattered a once-thriving economy, and, after all, the same guys are still in charge. Then again, many said the same about Colombia in the mid-'90s and, over the next 15 years, that economy quadrupled in size. Though Venezuela has not allowed the IMF to measure its GDP for years, credible estimates indicate economic activity has cratered by more than 80% since the peak. Economically, VZLA is at a historic low. It can’t get (much) worse. And that is PRECISELY what makes it an exciting prospect for those with an appetite for risk and some ambition. Capital is scarce, prices are in the doldrums, and risk premiums are enormous. There’s a non-negligible risk you’ll lose your investment, but there’s also a good chance you’ll make your money back five-fold in a handful of years. We recently spent 3 weeks in VZLA 🇻🇪, where we spoke to dozens of local entrepreneurs and investors about the country’s economic outlook right now. Things are changing fast, and we were in for many surprises. Here are 6 reasons you should at least consider investing in Venezuela in 2023.

39 Countries That Will Give You Residency for Free Just For Having Enough Passive Income/Savings: 🇦🇪 UAE 🇮🇹 Italy 🇵🇪 Peru 🇨🇱 Chile 🇲🇹 Malta 🇪🇸 Spain 🇧🇷 Brazil 🇧🇿 Belize 🇯🇪 Jersey 🇷🇸 Serbia 🇫🇷 France 🇮🇪 Ireland 🇲🇽 Mexico 🇨🇾 Cyprus 🇦🇹 Austria 🇬🇷 Greece 🇵🇦 Panama 🇪🇨 Ecuador 🇺🇾 Uruguay 🇭🇺 Hungary 🇹🇭 Thailand 🇬🇮 Gibraltar 🇩🇪 Germany 🇱🇰 Sri Lanka 🇲🇺 Mauritius 🇵🇾 Paraguay 🇨🇴 Colombia 🇧🇧 Barbados 🇭🇳 Honduras 🇮🇩 Indonesia 🇦🇷 Argentina 🇳🇮 Nicaragua 🇻🇪 Venezuela 🇨🇷 Costa Rica 🇵🇭 Philippines 🇬🇹 Guatemala 🇨🇭 Switzerland 🇿🇦 South Africa 🇩🇴 Dominican Republic NOTES: In IMI, we call these visa types "Independent Means Visas," but they are often called Rentista/Pensionado, Financially Independent Person, Non-Lucrative visas, etc. These visas are available without the need for investment, bank deposits, employment, or other financial conditions. Minimum income/asset requirements vary widely from country to country. This is not an exhaustive list. If you'd like to know the detailed requirements for any of the above independent means visas, check out the IMI Program Pages.

This otherwise excellent thread on 🇺🇾Uruguay misses one crucial point: For naturalized citizens, Uruguayan passports are practically USELESS. Here's why: Your Uruguyan passport will say you are a national of some other country. Uruguay is the only country in the world that lists naturalized citizens' ORIGINAL NATIONALITY on passports. This results from an interpretation fluke in the International Civil Aviation Organization (ICAO) manual. This leads to error responses at immigration checkpoints. But as this thread points out, there are many other good reasons to live in Uruguay: - Low tax - Low crime - Pleasant climate - Easy PR in a stable country ++ But don't do it for the passport.

The Great 11 Cities of the World🌍 - Huge & Important - Rich & Beautiful - Iconic & Historic 🇫🇷Paris 🇰🇷Seoul 🇯🇵Tokyo 🇨🇳Beijing 🇬🇧London 🇹🇷Istanbul 🇷🇺Moscow 🇨🇳Shanghai 🇺🇸Los Angeles 🇦🇷Buenos Aires 🇺🇸New York City See them all before your time here is up.

🇮🇹Italy is about to limit citizenship by descent to the 2nd generation: No more citizenship based on your great grandparents. This is a good moment to remember one of the 29 rules for sovereign individuals:

I will be the first person in line to buy this. There is no other citizenship I would rather buy, especially now with Milei. Very pleased to see they appear to have taken my suggestion to price it at $500,000.

The 🇪🇺EU has a Tax Haven Blacklist. I have a Tax Hell Blacklist: 🇪🇸Spain Tax agents who work on commissions and are among the most aggressive in the world. 🇫🇷France Inflexible system with extreme rates and a very high risk of audits. 🇧🇷Brazil Frequent, sudden changes to 90+ local and national taxes make compliance impossible. 🇮🇳India Bureaucratic and Kafkaesque. One of the world's highest volumes of tax-related court cases. 🇿🇦South Africa Capital controls, frequent audits, and especially harsh on expatriated wealthy. 🇺🇸USA Citizen-based taxation + FATCA + exit tax + thousands of pages of IRS code. 🇨🇦Canada The Income Tax Act has over 1 million words (more than the Bible). 🇳🇴Norway Exit tax + wealth tax + 38% on dividend/cap gains forced 5k millionaires to move to Switzerland. Who did I forget?

5 Countries That Give You PERMANENT Residency From DAY ONE for FREE: 🇲🇽Mexico 🇵🇦Panama 🇺🇾Uruguay 🇿🇦South Africa 🇩🇴Dominican Republic You need only prove a modest income or savings.

The crazy story of how Norway🇳🇴 gifted 5,000 millionaires and $100s of billions to Switzerland🇨🇭in just 2 years: In 2022, Norway raised its wealth tax to 1.1% (highest in Europe) and its capital gains tax to 38% (2nd highest). It made it virtually impossible to preserve wealth in the country and forced Norwegian millionaires out of the country. Here's how: If you have $100m in taxable wealth (to pick a round number), you need to pay $1.1 million in wealth tax each year. But where do you find that $1.1 million? Well, you have to sell off assets. But if you sell $1.1 million of assets, this triggers a 38% capital gains tax, leaving you with just $682k (not enough to pay the wealth tax). So you have to sell MORE assets. To pay both the wealth tax AND the capital gains tax on the money you were forced to raise, you actually have to sell assets worth closer to $1.8 million. Then you need to pay the entire $1.8m to the government - JUST TO KEEP THE MONEY YOU ALREADY PAID TAX ON WHEN YOU MADE IT IN THE FIRST PLACE. In other words, if you do nothing, you lose 1/50th of your wealth every year. And this doesn't even account for inflation or bear market years. It often also means losing control of your company, since you have to sell shares every year. And if you're a startup unfortunate enough to get investment at a high valuation, you will have to borrow money just to pay tax on money you haven't even earned yet! So, 5,000 Norwegians understandably moved to Switzerland, including 500 of the richest people in the country. And the ones who didn't leave in time, hoping for cooler heads to prevail, got punished severely. Because when the government saw what was happening, they introduced an EXIT TAX (effectively a financial Berlin Wall). So now, if you want to leave Norway, you have to pay 38% of the market value of ALL YOUR ASSETS. And the worst part is that the Norwegian government doesn't even need this tax money in the slightest. Because thanks to enormous oil and gas revenue, only about 18% of the government's revenue comes from taxes paid by private citizens. And only a fraction of that from wealth tax. Norway also has the world's biggest sovereign wealth fund, today worth $1.6 TRILLION, or $320,000 per Norwegian. Even if Norway didn't collect a single dollar in tax, it could still fund government spending for a decade using the money in that fund. The Norwegian government does not need the money. It is simply greedy and spiteful. Why would anyone EVER build anything in Norway? This is how you destroy the private sector as fast as possible. I suspect this is what this government ultimately wants since they can then control the remaining population with handouts. Some loopholes still exist, but they are closing fast. If you're a Norwegian who wants to get out of this abusive relationship, let me know, and I will put you in touch with people who can help.

$200k buys you: 6m² in Hong Kong🇭🇰 15m² in Seattle🇺🇸 24m² in Mumbai🇮🇳 33m² in Calgary🇨🇦 49m² in Belgrade🇷🇸 65m² in Mexico City🇲🇽 78m² in Baghdad🇮🇶 86m² in central Buenos Aires🇦🇷 Does BA being cheaper than Baghdad seem normal to you? This historical aberration will not last.

Seen a lot LatAm bros “discover” SEAsia recently. I spent a lot of time in both regions. Similar climates, prices, population sizes, dating markets. The trade off: You will never be “safe” in LatAm. You will never “belong” in SEAsia.

🇵🇹Portugal Golden Visa with a 13-year path to citizenship will not be competitive. The EU has plenty of other nice countries offering investor residency for less. And unlike Portugal, they process applications in MONTHS rather than YEARS.

Where to Go If WW3 Breaks Out 1. Southern Cone: 🇦🇷🇵🇾🇺🇾🇨🇱 2. Down Under: 🇦🇺 or🇳🇿 3. Switzerland🇨🇭 4. USA🇺🇸 4/4 are geographically shielded from invasion. 3/4 are self-sufficient for fuel and food. 2/4 are low-value strategic targets. 1/4 will give you citizenship fast.

Foreigner opening bank account in 🇵🇹Portugal: 13,247 documents Months of KYC/AML 2h wait at bank to speak to rep Open 10:00-13:00, Mon-Fri 🇵🇾Paraguay: Give ID, email, phone Open 24/7 (yes, really) More reps than customers 5 mins later: “Welcome aboard!”

New Citizenship by Investment Program dropping this week! IMI has the exclusive story. The first person to correctly guess the country gets a free IMI Pro subscription for one year (value is €1,200). Leave your guess below (only one-country guesses will be accepted).

My daughter was born yesterday. She is already a citizen of 4 countries. No matter what happens to me and her mom, her future is secured.

My daughter was born into 4 citizenships. She enjoys visa-free travel to 91% of the world🌎 And the right to live permanently in 39 countries. She'll be fluent in 4 languages spoken by 2.3 billion. Plus, she has her daddy's laser eyes. She'll be alright.

The 🇪🇺EU has a Tax Haven Blacklist. I have a Tax Hell Blacklist: 🇪🇸Spain Tax agents who work on commissions and are among the most aggressive in the world. 🇫🇷France Inflexible system with extreme rates and a very high risk of audits. 🇧🇷Brazil Frequent, sudden changes to 90+ local and national taxes make compliance impossible. 🇮🇳India Bureaucratic and Kafkaesque. One of the world's highest volumes of tax-related court cases. 🇿🇦South Africa Capital controls, frequent audits, and especially harsh on expatriated wealthy. 🇺🇸USA Citizen-based taxation + FATCA + exit tax + thousands of pages of IRS code. 🇨🇦Canada The Income Tax Act has over 1 million words (more than the Bible). 🇳🇴Norway Exit tax + wealth tax + 38% on dividend/cap gains forced 5k millionaires to move to Switzerland. Who did I forget?

This otherwise excellent thread on 🇺🇾Uruguay misses one crucial point: For naturalized citizens, Uruguayan passports are practically USELESS. Here's why: Your Uruguyan passport will say you are a national of some other country. Uruguay is the only country in the world that lists naturalized citizens' ORIGINAL NATIONALITY on passports. This results from an interpretation fluke in the International Civil Aviation Organization (ICAO) manual. This leads to error responses at immigration checkpoints. But as this thread points out, there are many other good reasons to live in Uruguay: - Low tax - Low crime - Pleasant climate - Easy PR in a stable country ++ But don't do it for the passport.

I will be the first person in line to buy this. There is no other citizenship I would rather buy, especially now with Milei. Very pleased to see they appear to have taken my suggestion to price it at $500,000.

Djokovic knows how to play the game, and I'm not talking about tennis: First, he resided for 15 years in tax-free 🇲🇨Monaco. In 2020, he bought a family home in 🇪🇸Marbella, but in the same year, he became a golden visa resident of tax-free 🇦🇪Dubai. Take one guess which of those two jurisdictions he made his "center of vital interests." Now he's just moved to Greece on a golden visa, likely using that country's €100k flat tax regime (valid for 15 years). I wouldn't be surprised to find he has a 🇵🇦Panama foundation or a 🇨🇰Cook Islands trust protecting his assets. And a guy like him can get citizenship by merit in practically any country he wants. World's best tennis player. COVID-tyranny dissident. Sovereign individual.

If you want visa-free EU travel, don’t get Caribbean citizenship 👇 There's no need to get a €500,000 Portugal Golden Visa either. Don’t even get a €60,000 Latvia Golden Visa. Just get Spain’s Digital Nomad Visa for €150. ✅ No tax in Spain unless you stay 183+ days a year ✅ No minimum stay (unless you want PR) ✅ Travel up to 6 months a year in the EU Visa-free EU travel isn't expensive.

🇦🇩Andorra: Low-Tax Life in The Heart of Europe · No tax on capital gains* · Only 10% tax on income · No wealth or inheritance tax · World-class skiing⛷️ in Gran Valira · Practically crime-free (leave door unlocked) · 2.5hr drive to Barcelona🇪🇸 or French Riviera🌴 Drawbacks · Small and a bit boring · Naturalization takes 20 years · No real airport: Drive to BCN for int'l. flights

Hear me out: 6 Signs 2023 Could Be the Year to Invest in Venezuela 🧵 If you’re thinking, “Why would anybody invest in Venezuela?”, you’re not alone. 20 years of socialism, world-record homicide rates, and systematic kidnappings have shattered a once-thriving economy, and, after all, the same guys are still in charge. Then again, many said the same about Colombia in the mid-'90s and, over the next 15 years, that economy quadrupled in size. Though Venezuela has not allowed the IMF to measure its GDP for years, credible estimates indicate economic activity has cratered by more than 80% since the peak. Economically, VZLA is at a historic low. It can’t get (much) worse. And that is PRECISELY what makes it an exciting prospect for those with an appetite for risk and some ambition. Capital is scarce, prices are in the doldrums, and risk premiums are enormous. There’s a non-negligible risk you’ll lose your investment, but there’s also a good chance you’ll make your money back five-fold in a handful of years. We recently spent 3 weeks in VZLA 🇻🇪, where we spoke to dozens of local entrepreneurs and investors about the country’s economic outlook right now. Things are changing fast, and we were in for many surprises. Here are 6 reasons you should at least consider investing in Venezuela in 2023.