Leo, let's discuss taxation, retirement, and social rights for long-term immigrants in Colombia and Israel. It's crucial information for anyone considering a move.
Absolutely. Understanding the tax implications and social benefits is vital before relocating. Let's compare Colombia and Israel.
In Colombia, long-term residents are generally taxed on Colombian-sourced income. Tax rates vary depending on income level. You'll need a cédula de extranjería for official processes, including tax payments.
Correct. Income earned within Colombia is taxed. However, foreign-sourced income is generally not taxed in Colombia. In Israel, the situation differs. Residents are typically taxed on worldwide income.
Worldwide income taxation in Israel sounds significant. Does that mean even income from abroad is taxable?
Generally, yes. However, new immigrants ("Olim Hadashim") receive a ten-year tax exemption on foreign-sourced income.
A ten-year exemption is a considerable advantage. What about retirement benefits in Colombia?
In Colombia, contributing to the national pension system provides eligibility for retirement benefits. A private pension system is also available. The "Seguridad Social" system covers healthcare and other benefits for contributors.
And in Israel?
Israel has a mandatory pension system. Employed individuals and their employers contribute, as do self-employed individuals.
What about social rights? What access do long-term immigrants have in Colombia?
Legal residents in Colombia have access to the public health system, education, and other social services.
And in Israel?
Israeli residents are entitled to health insurance through Kupot Holim, covering a wide range of medical services. The national insurance system, "Bituah Leumi," offers various social security benefits.
So, should someone choose Bogotá or Tel Aviv?
It depends entirely on individual circumstances. Colombia may be more attractive for those living off foreign-sourced income and seeking a lower cost of living. Israel's ten-year tax exemption is a significant benefit for new immigrants. Careful research and professional advice are essential.