Leo, let's discuss taxation, retirement, and social rights for long-term immigrants in Belgium and Israel.
It's crucial information for anyone planning to settle down. In Belgium, working immigrants contribute to social security, covering healthcare, unemployment, and retirement.
And the tax system?
Belgium's tax system is substantial. Expect a significant portion of your income to be taxed.
But the social benefits are extensive, including public healthcare and family allowances. What about Israel?
New immigrants often receive tax breaks under the 'Olah Hadasha' program, but these are temporary.
And afterward?
They contribute to national insurance and income tax, similar to other residents. Tax rates can be high, particularly at higher income levels.
What about retirement systems?
Belgium has a well-established system based on lifetime contributions. Israel's is more complex, with mandatory contributions, occupational pension funds, and other options.
What about social rights beyond pensions and healthcare?
In Belgium, legal residents have access to unemployment benefits, family allowances, and social assistance. Israel offers similar safety nets, but eligibility and benefit levels may differ.
Language must be a significant factor.
Absolutely. Knowing the local language simplifies navigating the bureaucracy in both countries.
So, the bottom line for anyone considering a long-term move?
Thoroughly research the tax system, pension options, and social rights. Consider professional financial advice.