Did you know that the amount of money you can save or make by going offshore is not just tied to the tax rate that you’re paying in that specific country? Actually, there are a handful of factors that help good entrepreneurs make and save more money once they’ve gone offshore.
Let’s delve into the four different ways that could help you live the life you want with more money in your pockets ↓
- Lower taxes;
- Less money on living;
- The “off-limits” opportunities;
- Increasing certain income.
For this, we’ll use the ideal, conditional „you” (the one you’ll hopefully become after reading this) Let’s go!
1. Lower taxes
Let's say you’re earning around $500,000 a year, $220,000 of which goes to taxes. You could move from your country to a new one and pay a $10,000 tax a year.
The money you’ll save can go into developing your business without having to sacrifice your quality of life.
2. Less money on living
Hypothetically, you live in Western Europe and you pay $100,000 a year to live. After you’ve already saved around $210,000 off taxes, your actual cost of living is much easier to afford.
Moving to Southern Europe will cut your expenses to around $50,000 a year, because of cheaper rent and products. You’ll also experience a behavioral change and liberation. Being away from home gives you the freedom to finally spend the money the way you want, because there’s no social pressure from your homely community.
3. The “off-limits” opportunities
You might think about investing into something, while constantly worrying about the risks of that investment. Still, there are so many opportunities that you will be missing out on by stopping in your home country instead of going offshore or moving to another place! Don’t just refuse taking certain opportunities due to the fear of not knowing how to approach them or where to ask for help!
4. Increasing good income
This might be the most important bullet point because it implies an emotional connection to yourself.
Sometimes, you might be feeling as if you’re holding back your real potential, because half of the income goes out the door, being taken away by taxes.
You might wonder: why do it?
Now, if you apply the mentioned above lifehacks, you’ll end up spending less money and finally wondering what more you could do. You’ll be finally experiencing the value of feeling good about where your money is going.
Conclusion
The point of your „potential future” study is to see how much money you could save by going offshore.This potential reality might be a huge jump from where you’re right now. Still, by moving your life and business offshore, you can experience so much more.
There are a lot of people out there who do not fully exploit their potential because they couldn’t choose where to be born and they think there’s no way out of the vicious cycle.
But if you want to see just how much you can earn and develop by moving offshore, feel free to reach out and work with Bizonaire!
