Let's discuss taxation, retirement, and social rights for long-term immigrants in Georgia and Turkey. It's crucial for those considering relocation.
Indeed. Let's compare the systems to see which is more favorable.
First, Georgia. How does Georgia treat long-term immigrants regarding taxes?
Georgia's tax system is relatively straightforward and attractive. It operates on a territorial tax principle. Income sourced outside Georgia may not be taxed.
So, if I'm a digital nomad earning income from clients abroad, I might not pay Georgian income tax?
Essentially, yes. However, if you become a tax resident—spending over 183 days there—you'll be taxed on Georgian-sourced income. The rates are still generally low compared to many EU countries.
Now, Turkey. I've heard it's more complex.
Turkey's system is residency-based. Residents are taxed on worldwide income. There's no escaping taxation there.
Worldwide income? Even hypothetical income from a pet's endorsement deal?
Precisely. And Turkey's income tax rates are progressive, reaching around 40%.
Georgia seems tax-friendly, while Turkey is more rigorous. What about retirement? Can long-term immigrants retire in either country?
In Georgia, there isn't a comprehensive social security agreement with many countries, making pension building tricky. It relies more on personal savings and investments.
So, it's DIY retirement?
Smart financial planning is crucial. However, Georgia's lower cost of living helps stretch savings.
What about Turkey?
If you're legally employed in Turkey, you contribute to the SGK (Social Security Institution). After a certain period, you're eligible for retirement benefits.
Work, contribute, and eventually retire comfortably?
Yes, but be aware of the retirement age and contribution requirements, which are subject to change.
And social rights? Healthcare and other benefits for long-term immigrants?
In Georgia, healthcare access depends on residency status and private insurance. The public system isn't always easily navigable.
So, knowing some Georgian phrases might be helpful.
Precisely. But the government is working on improvements.
And Turkey?
SGK contributions grant access to public healthcare. Private options exist, but SGK helps with costs.
Georgia offers potential tax benefits but possibly more challenging healthcare access; Turkey has potentially higher taxes but clearer pathways to social security and healthcare.
It's a nuanced comparison. It depends on individual circumstances, income, and long-term goals. Consult a tax advisor or immigration lawyer.
Thorough research is essential before relocating.
Absolutely. Navigating these systems can be complex.
Remember to do your due diligence!