Leo, let's discuss taxation, retirement, and social rights for long-term immigrants in Georgia and Ukraine.
Sounds challenging. Let's start with Georgia.
Georgia's territorial tax system is appealing; you only pay taxes on income sourced within the country. However, tax residency requires at least 183 days within a tax year.
And retirement?
Georgia offers a state pension, but it's modest. Most expats rely on private pensions or savings.
So, personal financial planning is crucial. Now, Ukraine.
Ukraine operates on a global income tax system, taxing all income regardless of origin. However, double taxation treaties exist with many countries.
Navigating those treaties seems complex. What about social rights and healthcare?
Ukraine's public healthcare is free, but quality varies. Private insurance is often recommended. Unemployment benefits are modest and have specific requirements.
So, a less robust safety net compared to Georgia's simpler tax system?
Essentially, yes. Georgia offers simpler taxes but requires more personal planning for retirement and social security. Ukraine has a more complex tax system and a less comprehensive social safety net. Education access for children is generally good in both countries.
In short, thorough research is essential for both countries. Understand residency requirements, tax treaties, and plan your finances carefully. Learning the local language is also beneficial.
Excellent advice. Thorough research is key to a successful transition.