We've covered accommodation and visas, but now let's discuss taxation, retirement, and social rights for long-term immigrants in Croatia and Vietnam.
A necessary evil, allowing us to enjoy the fun stuff later. Let's start with Croatia. As an EU member, its system is generally straightforward for immigrants, especially EU citizens.
For EU citizens, it's relatively simple. However, Croatia also offers a Digital Nomad Visa for non-EU citizens, potentially offering zero income tax for the first year. This is a significant incentive.
Zero income tax for a year is tempting, but after that, Croatia's progressive income tax applies. Contributing to social security is crucial for retirement and healthcare access. It provides coverage, though wait times may be longer for some procedures. Reciprocal agreements with other countries can also benefit your overall pension.
Now, let's consider Vietnam. Culturally and fiscally, it's quite different.
Vietnam's system is more fluid for long-term immigrants. Formal employment with a Vietnamese company means paying income tax. However, for digital nomads without formal employment, the tax situation is less clear, depending on income origin.
For retirement in Vietnam, foreigners typically don't rely on the local system. The social insurance scheme mainly benefits Vietnamese citizens. Most expats rely on personal savings or their home country's pension. The same applies largely to social rights; while public healthcare is available, many expats opt for private insurance.
Vietnam lacks the comprehensive social safety net found in Croatia. Foreigners are largely responsible for their own welfare.
Croatia offers a more structured path, particularly with the initial tax break. Vietnam necessitates more self-reliance and careful financial planning.
Thorough research is crucial before relocating. Remember to consult resources like jetoff.ai for detailed guides on global living.
Understanding these systems is key to a financially stable life abroad.