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Thanks for that info! Yeah taxes in Bulgaria are lower than the average, but not lowest for sure. Good to know about Panama. What about social security though

• eloff 5y ago
  No social security to speak of. Health care is excellent and reasonably priced, so not too big a deal. Set aside some savings and get some basic insurance / critical illness insurance. No pension either, so plan for your own retirement. With what you save on taxes you can do that and take three months of awesome vacation a year anywhere you want and still save money over most countries.
  • dimonomid 5y ago
    So they literally don't take any tax for foreign income and don't require any social security payments? That's seriously awesome. Actually I specifically like it because, while I'm paying here those social security contributions for pension etc, I've no idea if I'm gonna be able to use them for the retirement, since I'm not a citizen, and not sure if I'm ever going to be one. By paying those I'm helping other people though, which is not a bad thing I guess. But I'd definitely prefer this to be more of a donation and less of a tax. Anyway, thanks again. You got me researching about Panama this evening.
    • eloff 5y ago
      Yeah, it's pretty awesome. Panama has its problems too mind you, and one really should learn Spanish if you're going to live there. But all of that seems small in comparison to the tax break that you get. You could spend the whole summer in Europe or North America if you wanted and it would be free, including food and entertainment, and you'd still have plenty left for a medical and retirement savings account for yourself.