EU Member to Tax its Citizens Worldwide?

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In this video, we cover the proposal of France's Finance Committee to tax French citizens abroad if they have lived in France for three of the past 10 years and now live in a country with a tax rate at least 50% lower than France's. Mr. Hendersons explains what potential exemptions there may be from the rule, as well as how France may make it difficult to get out of its tax net. Additionally, Mr. Henderson discusses how this move is part of a broader trend to prevent tax-driven relocations.

00:00 French Move Toward Citizenship-Based Taxation
01:40 Backdoor Tax vs. US-Style Taxation on Citizens
02:10 Specific French Tax Proposal
06:00 Forecasting Tax Policy Changes
09:18 Second Passports and Citizenship Options

Nomad Capitalist helps clients "go where you're treated best". We are the world's most sought-after firm for offshore tax planning, dual citizenship, and international diversification and asset protection. We use legal and ethical strategies and work exclusively with seven- and eight-figure entrepreneurs and investors.

We create and execute holistic, multi-jurisdictional Plans that help clients keep more of their wealth, increase their personal freedom, and protect their families and wealth against threats in their home country.

No other firm offers clients access to more potential options to relocate to, bank in, or become a citizen of. Because we do not focus only on one or a handful of countries, we can offer unbiased advice where others can't.

DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

[leloupdessteppes]

France's deficit is the worst in the entire EU. Now they want to punish citizens for leaving early. Socialism in France is a nightmare.

[henry]

Retroactively taxing a citizen is criminal

[timotheemathon]

As a French citizen I'm currently moving to Andorra and the process takes several months, then I'll be on the lookout for a second passport once established there.

Folks, if you want to leave France, do not wait, it's taking a lot of time.

[TeyimPila]

Like most public issues, we always skip over basic definitions. What are taxes? They’re money you pay to the government in exchange for basic services like roads, sanitation, fire services, etc. so why should someone pay taxes when they can’t enjoy any of these services

[fabthom]

As French leaving in an other country for 8 years, I really appreciate your video and point of view. You perfectly express my feeling about this amendment.

[asparrow]

Oh great. I fled Canada twice already to move back to France, now I gotta flee France AGAIN?!?! 🤦‍♂🤦‍♂🤷‍♂🤣🤣🤣🤣🤣 I'M SO TIRED OF THIS 😭😭😭😭

[Zelielz]

It is a fucking nightmare. Literally slavery.

[MrBlister]

If the "You'll own nothing, and be happy" crowd have their way, there will be nowhere to run; nowhere to hide. 🎉😅Cheers! 👎💩

[jeremyleonbarlow]

A lot of French people will be renouncing French citizenship.

[Rittlesleo]

At least they’re honest and call it a burden.🙄

[findhard]

Lots of wealthy French will become Swiss or Belgian citizens.

[tommyboman]

This has been discussed on EU(SSR) level as well. Once put to a vote in the EU(SSR) parliament it will pass. This together with CBDCs and individual carbon taxation will be one of the final steps to the destruction of Europe. This will not end well.

[Bufford]

Antartica is tax free, visa free, and low population. No extradition. Lots of UFO's . The Next great escape!😂

[westekforest]

The great thing about Nomad Capitalist's business strategy is recognizing trends well ahead of the 'herd'.
I think this clearly comes from the intellect, vision and understanding of Andrew where he sees the 'lather, rinse, repeat' cycle of governments throughout world history. Each and every time the fiscal situation of a given country, and in particular an empire or vassal state of an empire, gets out over it's skis and must frantically look for collateral / capital / taxes / control to remain in 'control', it always ends in the same way.
The productive leave the citizen relationship with that empire / country / vassal state, and go where they are treated best. Result is always the same as that brain and ability drain eventually makes even simple things impossible within that fetid shell that was once a productive economy and culture.
I have seen this writing on the wall since the mid 1980's in the U.S. / Western Europe, and believe Andrew is spot on with his analysis and recommendations.

[DPxedeeij]

I’m from Saint Kitts and Nevis in the Caribbean the EU basically forced us and other Caribbean islands who have CBI to increase the price of our passports, and suspend the passports for Russians! We are welcoming and very down to earth! But I must warn you, do not come if u are racist or think u are superior, u well be handled for u come to a peaceful country thinking u can do what u want

[Verticaltechwizard]

As a Canadian im able to get a passport in holland fairly easy. I've been on the fence for a few reasons and this is one of them. Western countries really should be off the list at this point.

[Gibberish]

Here in The Netherlands they are planning on doing it for only the first 5 years of someone’s abroad stay. I’m not too concerned as I’m a double citizen (Colombian and Dutch) so even if the whole of the EU goes insane, I could still live and work in any of the 11 Mercosur countries in South America.

[coolrunnings]

This is why we shouldn’t be pursuing nor paying for EU passports

[willempasterkamp]

When the eritrean regime taxed 'their' migrated 'refugees' in europe the EU was furious now european countries planning to do the same. oh the irony.
An other story to share ; moroccans living in the netherlands can't give up their moroccan ciitizenship as both countries have agreed. Even if they are 3th or 4th generation the males get a call for military duty and have to pay a sum to avoid conscription. same for Turkey.
Weird long arm from the motherlands receiving revenues. This practise being in existence for decades now.

[GreekArmyVeteran]

This is similar to the system in place in Greece. Greek citizens pay taxes for all income earned if they are registered with a tax authority within Greece. To register for the taxation catalogues for Greeks living abroad, one must prove permanent residence outside of Greece (which is an extremely bureaucratic process) and you need to designate a taxation representative. The good thing about this is that, once done, it's permanent unless you return to Greece and that you will not pay taxes on your foreign income afterwards, but in the interim the state will expect you to pay taxes to Greece - you pay the difference between the tax you pay in your country of residence and the tax you would have to pay in Greece on the same income. Since Greek taxes are among the highest in Europe, even on a German income you would have to pay a difference. We have not gone as far as the French, but Greece is hostile to its own taxpayers. Greeks evade taxes for a reason. I feel sorry for my French bros in any case. Our sister nation of France is NOT doing well financially.