Get Your Money Together BEFORE Moving to Portugal 🇵🇹

[@HelderP1337]

Wow, this was legit informative. Thank you both. As a Portuguese, that's been living in the US and thinking about going back eventually, this really brought up a few important points I'll need to consider.

[@Lookingtobounce]

We just signed with John! What a great guy! So happy that we now have a solid plan!

[@peterwatler8711]

This was an excellent interview with really key information and topics covered. Great job.

[@zeitgeist888]

Really good Q and A and overview of moving abroad. We are looking at 2 years out and really narrowed it down to Spain Portugal and France. After the NHR seems to have fallen we settled on France. It is very good for retirees as they recognize Roth IRAs, their taxes are decent and the tax treaty with the US means we will pay less in overall taxes than we do currently living in the Midwest. We had a French tax advisor go over our current and future situation and it looks really good for a move tax and cost of living wise. There is a saying that France is a great place to live but a bad place to die does mean inheritance issue can be a concern.

[@ExpatsEverywhere]

Thank you very much. We hope that you have a great time in France! - Josh & Kalie

[@franciscoarroyo7498]

Another topic to discuss when I'm heading to the runway, thanks Josh and Kalie.

[@ExpatsEverywhere]

You're welcome! Thanks for watching. - Josh & Kalie

[@jennifermello8063]

You just gave me so much more think about. I'm not sure what to do with my 4 family here in the states. I was unaware of the capital tax on gains from a sale.

[@ExpatsEverywhere]

We hope that's a good thing. If you need to plan more, certainly reach out to John or someone else that knows the financial implications of being an American abroad. - Josh & Kalie

[@jennifermello8063]

Yes. Thank you.

[@ConanNYC]

Yes me too. So if i understand correctly we need to sell our home before we move. Because in the US primary home sale is not taxed. But if you sell it while living in portugal you'll get hit with a big tax!!!!

[@richvangogh]

Hi Josh and Kalie! Thank you for that beautiful and fun video!!!! I bought that shirt for my sisters birthday! I already have the same shirt...I'm still looking for a deal in the US to spend 6 months here, and a place in Portugal to spend 6 months there. Yes, I am building the real Satellites in Kirkland, Washington, not in the Amazon jungle. Yes, it is Kuiper, a division of Amazon.

[@carlobiorggio8685]

Hi Josh and Kalie, Question: Do you have a video on what is better. To keep my Visa, MC credit cards from USA and use it in Europe or get a credit card from Europe. Exchange are fair? I will still have income from USA. Hope you could help. Thanks!

[@mjg239]

Hey I am an American living in Germany. Thanks for the content. But one question I have is about savings accounts. What is a good savings account to open in the EU for Us citizens residing legally in Germany? Looking for recommendations. I am a member of N26 but savings accounts are blocked for Americans in Germany.

[@JenShea]

I'd like to find a Canadian 'John' (financial planner, to be clear, ha ha). So many videos are geared towards US citizens. Great video!!

[@ExpatsEverywhere]

Thank you! Reach out to John and see what he knows regarding Canadian citizens and financial planning. - Josh & Kalie

[@GeraldFigal]

He’s right about France being better on taxes for retirees-basically any passive income designed for retirement (Social Security, 401k, IRA, rental income on property in US) is considered by France in the U.S.-France tax agreement as functionally equivalent to a French pension and thus not taxed by France. Rather, US citizens fall under US tax laws for such income. You would still, however, be liable for French taxes on capital gains, dividends, and interest earnings, etc. This is why France is my Plan B, although I would prefer Portugal (for many reasons) even if we have to pay more taxes there or have to get creative in minimizing taxable income. And this is the case even though I can read and speak French far far better than Portuguese! I was never into the move to Portugal for NHR.

[@ExpatsEverywhere]

Thanks for sharing, Gerald. We weren’t sure if you were going to watch this one because of the “optionality” thing. - Josh & Kalie

[@O1012-u7q]

All correct, except capital gains earned in the US by US citizens residing in France are only taxed in the US, per the treaty. All of this makes France extremely compelling for US citizens, it’s like living in Florida as far as taxes go (if you aren’t drawing a paycheck).

[@GeraldFigal]

@@ExpatsEverywhere And he was good about that until the last moment, where I was crestfallen that he used “optionality” again….

[@GeraldFigal]

@@O1012-u7q I stand corrected. I thought the idea was basically all US-earned French-pension-like income is taxed by US and capital gains did not qualify as such. I should have read the treaty more thoroughly.

[@brianpereira7483]

Portugal ftw ive been to france and i would choose Portugal spain brazil or mexico to move abroad

[@darius6331]

Hi, what are your thoughts on Cyprus in comparison to Portugal? Do you like Portugal more? Cyprus seems to have great tax laws.

[@ExpatsEverywhere]

Hi Darius, we do like Portugal more. Cyprus is cool though. We found the English levels to be good there. There are a few interesting places to potentially live but the life could be very simple/bland there because of how small it is overall. A couple years in Cyprus, cool, for the long term, probably not for us. - Josh & Kalie

[@darius6331]

Thanks for your answer! @@ExpatsEverywhere

[@thecyberseer]

I don't understand what he says about capital gains on the million dollar stock position. Does he mean you're taxed EVEN IF YOU DON'T SELL IT?

[@ebberheguedusch1935]

kind of Hard if you don't find a way to make money in Portugal while living there.

[@luisfilipe534]

Due to the extreme house crisis in Portugal, non residents should not be allowed to purchase houses here..

[@ExpatsEverywhere]

Do you think that should go for citizens that are non-residents too? - Josh & Kalie

[@TommyPinkerton]

Green Ocean John is one of the handsomest men I've seen online in a long time!