Where is the best place for entrepreneurs?

@josestubbs9379

2 жыл бұрын

Uae is add a corporate tax rate next year according to Reuters we need your thoughts

@victorrenevaldiviasoto9728

2 жыл бұрын

It depends on the type of business you're thinking & your primary market!

@arnoldvosloo220

2 жыл бұрын

@@josestubbs9379 Thankfully it only applies to UAE domestic companies and only to pr0fits above above 375k AED (~100k us). If you have set up a free-zone company there, which is probably what most foreigners are doing, there is still no t@x

@robertdominicanrepublic

2 жыл бұрын

What are your thoughts on the Baltic Countries of Lithuania, Latvia and Estonia.

@abestrauss6052

2 жыл бұрын

Ever considered Cape Town South Africa? The fact that the government is so criminal and does not prosecute those criminals and our constitution says we all equal before the law means that as a a SME, if you operate below the radar you can have a low tax rate. You decide how low you want it? 😉 But if you like things black and white and you like sticking to the rules determined by the king who does not wear pajamas stay away from South Africa.

I agree with your Toronto statement, the shut downs here seem to never end. Canada is shutting down 🇨🇦 👎

That list makes perfect sense to me: build up your network and clout in big western cities (even better if you’re born there) then go to smaller opportunistic cities in developing countries, set up shop, then start accelerating wealth.

@coolrunnings5383

2 жыл бұрын

That could only happen if one already has a credible business and (western) customers ... going abroad as a youngster with just ambition, and no track record, would put one squarely at the back of the queue.

@apegrasshoplizard

2 жыл бұрын

I plan to set up shop in Albania and then do most of my business in Italy and Germany

@tammyt7424

2 жыл бұрын

@@coolrunnings5383 lol, so you have been to all places and contacted all the financial institutions, spoke to all business people in all countries, you are a great salesman and you have a knowledge about human psychology ..pls, you haven't even made half presentation to anyone

@coolrunnings5383

2 жыл бұрын

@@tammyt7424 Lol, yes, I have. Have you tried going overseas and approaching foreign financial institutions with no experience and track record? Let me know how it goes.

🗣 PLEASE DO A VIDEO ON YOUR TOP FIVE CITIES TO HIRE EMPLOYEES! You have this scattered throughout several videos but we need one that is clear and concise! Thanks Mr. H !

Once again Andrew brings the TRUTH HAMMER 🔨!!!!!

So much logic. Love it. Gone back to my early 20s where I moved to Auckland. I would've gone to Manila

Your information is ahead of time. Those who would act on it will be wealthy within a decade. And, people will start taking this seriously in near future.

How are you going to get Sequoia to write you a $5mm Series A check if you live in Yerevan? I'm a big fan, but this is way off for high-growth tech startups.

great thank you

Andrew, you mentioned an entrepreneur could take advantage of incentives in the UK without an expensive London base, any suggestions as to where? University towns, Mid-sized towns, Birmingham, or Manchester?

@AKSmith15

2 жыл бұрын

Birmingham seems to be usual alternative, or you can try Leeds. Edinburgh could be an option too.

Gotta put Miami Florida on this list the city is beautiful and always opening new businesses.

Why so against "California"? London and NYC are all expensive as hell like California with high taxes

Would love to know what are the cyties you have in mind

I'm gonna try out panama city for 2 weeks as of Feb 27th ...I am starting a small construction company there with a!friend...never would I go to London to start a business...too high in taxes...I love toronto but it's too fucked up right now

Andrew, as an American, do I need to pay tax to the US if I start and grow my company, say in eastern Europe? that is either coop tax or federal income tax. what if the company becomes a global player like Facebook; is there any limitation for entering into the US market, from regulatory stand points or so called "privacy" ?

@gutsandgrittv5076

2 жыл бұрын

You have to denounce your US citizenship to avoid their octopus arms.

Florida, Texas, and Tennesse are probably the best states in the USA. I am amazed that they mentioned some of these high-cost, high-tax shitholes.

@danielogwara3984

2 жыл бұрын

How about the hurricanes in Florida? Generally the looseness of guns in the US discourages me.

The thing is for most low tax countries, they're relatively low income. So you do have a lower tax bill but your revenue is drastically lower.

Surprised to see Toronto at #7. And forbes under 30 with a total of 16. Still the city is getting super expensive. And as you mentioned. Not being able to do much because things keep closing (government restrictions)

@torontovoice1

2 жыл бұрын

Yes Toronto has become very expensive, and with the liberal government has not been the best environment for entrepreneurship. They took a page of biden's book. Make the rich poor, and make the poor comfortable. Unfortunately, watching this channel you'll know that it just doesn't work. The rich have greener pastures to go to, and the poor well, they just stay put and become your liability. So it's politically correct to talk about it, but political suicide to try to enact most of these left-wing hum ideas. Toronto's getting super expensive because of all of the immigration programs and all of the new immigrants that are coming into the country. And they were usually settling in either Toronto or the GTA for that matter or Vancouver or the greater Vancouver area. There's lots of places in Canada where you can live pretty cheap, but they're not in the big cities.

@ElJefe1986

2 жыл бұрын

@@torontovoice1 Definitely other places and cheaper, you're right. But there are a few factors in why people don't want to live in...Saskatoon or Winnipeg (too cold,lack of jobs, etc). If I'm a new immigrant I'd probably look at the bigger cities as well. And that's all fine. A better way of living should be available to those who seek it. But when a born Canadians can't afford housing in the city they've been their whole life's then you really gotta question that. And of course it starts at the top with our leader. I'm actually interested to see forbes 30 under 30 from Toronto. I want to hear their stories and see their ideas.

@torontovoice1

2 жыл бұрын

@@ElJefe1986 That's one of the determents of immigration. Look at Vancouver for example. (Quebec immigrant inventor program caused havoc)

Detroit, Michigan is a great place to start. The downtown area is great and has a few billion dollar companies there. Alot of land for sale.

@finallyfriday.

2 жыл бұрын

Wow, dude. Great comment. Outside the box but real facts. Most people see the dirt, you see the opportunity. Thumbs up from an ex-Detroiter.

@tradinglifestlye8732

2 жыл бұрын

@@eze__95 no you have rocket mortgage and other great companies in downtown Detroit

@andrewhuston4510

2 жыл бұрын

Some of those Rust Belt cities are regenerating. Cleveland, Detroit are two examples.

@finallyfriday.

2 жыл бұрын

@@andrewhuston4510 I live a few hours north of Detroit and haven't been back in 40 years but I've heard it's on the upswing. This is that window of opportunity. But I haven't actually seen it, only heard. But I'm sure there is still many horrible areas.

@andrewhuston4510

2 жыл бұрын

@@finallyfriday. Me too. I've never been to Detroit, or Cleveland. Only read stories in the news.

Next video... HIS top 10. Let's hear them please!

Could not agree with this video more. These cities are living on a legacy they built many decades ago but have not been able to sustain as of recent years. They are bloated with golden bureaucracies and mismanaged high taxes. I’m taking my money, time and skills somewhere else.

I mean ur forgetting that the talent pool in San Francisco is very large

Hi Andrew, I have a question that you will not expect 😅 seriously, what would be the best place/country for a Muslim young entrepreneur ?

@ZakariaLACHGAR

2 жыл бұрын

And another one 😄 Covid restrictions and vaccine obligations is something nowadays

Any suggestions on what some of the more crypto and freedom friendly places are in Central America? (I would love to be a part of what's going on in El Salvador, but for someone whos still trying to bootstrap their own business... I'm not sure it's developed enough for me yet.)

@danielogwara3984

2 жыл бұрын

A couple of American crypto influencers I follow moved to Panama.

@BadbitStudios

2 жыл бұрын

@@danielogwara3984 Thanks for the tip, I've heard good things about Panama.

I feel like the rent at these places are so high that it’s hard to take risks

Young in the sense of age, or just doing entrepreneurship for the first time? Of no consequence, c’est la vie, v. good, (lol) 😀✅

I think you're missing one important point about these cities. Yes the cost of living is outrageous, and yes the taxes are burdensome to say the least, but they do offer other benefits that you wouldn't get in other countries. For example, in Canada they have the SR and Ed program, scientific research and experimental development which will provide entrepreneurs millions of dollars in r&d funding. They also have another program called Irap which will actually up front many are in the expenditures. Additionally they have the Federal Business development Bank which goes out and finances businesses to get started. As a financer of last resort, they literally provide millions of dollars in finance to businesses that otherwise could not find venture capital. Now when you look at the doing business guide one of the criterias in each countries portfolio relates to access to Capital. So if you go to a country with very poor access to Capital, yes the wages will be lower, and yes the taxes will likely be lower, and yes the cost of living will be lower too, however, you only pay tax on earned income. If you have no income you don't pay any tax. So the idea is to start earning real money and then look for greener pastures if they're available. The taxation in Ontario for example is not as high as you think. For example the small business tax on corporations is only 15% for the first $500,000 of income. And there's very liberal capitalization of capital cost equipment and all kinds of other expenses occasioned with generating money especially in the areas of r&d and high-tech. I think one has to take a holistic approach to wealth development, and make the necessary decisions based on where they are in their life. There's a reason why these cities are attracting this kind of talent and capital. It's not an accident! Additionally, you're in an environment of like-minded people and which is an inducement basis to productivity and success. Silicon valley didn't just get its name by accident!

@torontovoice1

2 жыл бұрын

@@goclick oh that's very true. But, if all these countries were that bad, people would be trying to leave there. And exactly the opposite is happening. The populations are growing, and there's a long waiting list of people that are trying to immigrate

Who / how did toronto get on a best list? Heck no. I'm looking forward to getting outta here. There are alot of frustrated entrepreneurs here who are successful here inspite of all the rotten conditions. To their credit and especially to front line workers. Its bad & getting worse. Although the ultra rich are still doing well. Amoungst an Evergrowing homelessness problem. Countless ill people in public literally smashing glass windows in frustration. Fithy subway & bus seats. Being forced to stand etc. What good is it to be well off in a city where other people are crumbling before your eyes? I also noticed deep discounts to condo downpayments & fees recently. Determined to stay positive despite it all. In sol 💌

You forgot to answer to just one question ... where should young entrepreneurs live?

Tel Aviv 🤨??

I love Tel Aviv. It’s a great place.

@torontovoice1

2 жыл бұрын

Try iryamim

The best city is where my parents live, so I am not paying rent 😁

Time to leave, forget young entrepreneurs, ANY age is a win, if you’re 40, leave, 50, leave, 60? Leave

If ur into tech in America don’t go to California as we all know Austin tx is the new silicon valley. You got apple, google building new campuses and tesla straight up moving their headquarters there. Low taxes, low garbage regulation

If you want to create a tech remote-based company, I would invite you to Guadalajara, México. Tons of English-speaking technicians at competitive salaries, same time zone as the US, somewhat similar culture and top tax rate of 35% (you can save by deducting your expenses' VAT, Mexico doesn't charge VAT to service exports). Plus our airport has direct flights to all of North America.

As an entrepreneur that has lived the expat life in and around Asia top cities in my experience: Singapore, Bangkok, Ho Chi Minh, Kuala Lumpur, Istanbul, Tell Aviv, Seoul, and if I were to say one city in the US...nope never mind. I'm American, and what people fail to realize about NYC, San Francisco, and Boston beside the high living costs, there is rampant homelessness...I would never want to live in such a city where people are so complacent about the homelessness which is nearly unavoidable. Plus very unsafe to walk, especially if you're a woman.

@finallyfriday.

2 жыл бұрын

CA unsafe especially if you're a man.

@Tr786hala

2 жыл бұрын

Tel aviv is the most expensive city in the world

@BlairCadetabc

2 жыл бұрын

@@Tr786hala Very true, but I went to grad school in Haifa, and it's not too far by train. So you don't necessarily need to live in Tel Aviv.

@BlairCadetabc

2 жыл бұрын

@@finallyfriday. I can only speak of my experience...when I traveled to San Francisco I didn't feel safe at all....

@finallyfriday.

2 жыл бұрын

@@BlairCadetabc That'd be nice if you did speak just for yourself but you said it unsafe especially for women when crime facts show men are far more victims in SF. Far more homeless men there and they suffer at a very high rate, people shot more often- men, businesses robbed more often owned by men, stabbed- men, beat up- more men, suffer police brutality more often- men. Rapes? Yes, men if you don't discount the prison system. And don't dismiss this cuz the perpetrators are men in prison- rape is rape and usually far more psychologically damaging to male victims. Victims of corrupt legal system- men. Killed as cops in SF far more policemen than policewomen. I could go on. And how can you say you, speaking for yourself, feel more unsafe than a man? Have you ever been a man? How do you know how unsafe a man feels? Particularly when a man is often shamed by people to "man up!". I've heard far more women use that shaming line than men. So even if he's afraid... he's not allowed to be. Please don't throw those cliché platitudes around to be PC cuz, besides being statistically very inaccurate it also is dismissive.

I LOVE picture in the background

San Francisco? Los Angeles? NYC?? Bruhh you must love paying taxes lmao

Cooperate media and all the top suggested Google results are modern day cable television 📺

Thank you! My company is in the Silicon Valley and California is killing me. I’m literally crossing the boarder to Mexico 🇲🇽 right now and getting a Green Card.

London and SF. Who has the money to live in such places when they're starting out (unless from a wealthy family)?

Would be nice to talk about ease of starting a business, payment processing, etc instead of this singular focus on taxes

@torontovoice1

2 жыл бұрын

You're on the right track. And that's one of the things about being in a first world country, you have access to Capital, and automatic right to banking, and all of the other perks that go along with it. The world is shrinking. Not geographically of course, but from regulatory point of view it is. It's becoming more and more difficult to open up bank accounts, kyc is more intrusive, and some of the jurisdictions especially those that have low taxes and attract a lot of gray businesses have tremendous difficulties with the access to banking and capital. And I suspect it's only going to get worse. The United States just recently enacted a 15% minimum tax for large corporations. It always starts there and then works its way down. Pretty soon, and then also distant future you're not going to be able to get down below the 15% tax rate. So countries that have higher taxes might be able to lower them because they'll be so taxation. And the rules are going to be expanding to determine where the goods and services are sold as opposed to where the company resides. Holding patents in Ireland may not work a few years from now for Apple for example

@MyLatinLife

2 жыл бұрын

@@torontovoice1 We should talk about costs of opening a bank account. In USA this is free, but in Panama it costs like $1000 or more to open account due to fees and lawyers

@torontovoice1

2 жыл бұрын

@@MyLatinLife that's just getting an account. The fees are astronomical, and the banks are shaky. If they go broke, your money goes with it. And if you open up an account in Panama and you have accounts in first world countries, you might find your accounts Frozen because of the jurisdiction of your other accounts. So it's not quite cut and dry

@torontovoice1

2 жыл бұрын

@@MyLatinLife And that's just for an account. What about other costs, and risks with P2 or P3 banks!

Come to Colombia. Many foreign born entreperneurs are opening rental properties, hostels, restaurants. You'll have a strong currency advantage, low cost of living and a country with so much room to grow. And also the weather, the people, the nature...🤷‍♂️

@lerryperry

2 жыл бұрын

I'd love to move to Colombia when I become location independent but unfortunately Colombia doesn't have any digital nomad visa or easy residence like Mexico. 😢

@luoma9040

2 жыл бұрын

@@lerryperry Check Ecuador, they announced one, not sure where did it went to.

@luoma9040

2 жыл бұрын

@@lerryperry Check Ecuador, they announced one, not sure where did it went to.

Great video. I'm nowhere near his Forbes list but having worked on Wall St I fully understand where you're coming from.

I live in Stockholm. It is an insanely good life to live here if you earn a paycheck. But if you have your own company and want to grow it, there are much better places.

@pinetworkminer8377

2 жыл бұрын

Are you saying Sweden is a nanny state?

@christianorsa

2 жыл бұрын

@@pinetworkminer8377 more or less, same thing here in Finland where I live

@KingOfClay

2 жыл бұрын

Probably. Every country has positives and negatives. In Sweden, you can live comfortably with just about any job. For someone who is a taxi driver or a cook, it’s hard to beat the place. But entrepreneurs can definitely find better places to succeed.

@jeremybarlow2291

2 жыл бұрын

Yet per capita Sweden is home to more billionaires than just about anywhere and it is one of the countries with the greatest social mobility.

@Sunday8916

2 жыл бұрын

But in the winter you guys suicide yourself pretty hard

Singapore

@nicolas4771

2 жыл бұрын

As young entrepreneur it is almost impossible to get a visa nowadays

Young entrepreneurs = high energy = high libido = Kiev or Odessa, Medellin Colombia, Barcelona Spain, Rio de Janeiro Brazil, Riga Latvia are these tax friendly? no... are there many beautiful girls? YES

@user-dy2qq5wh4b

2 жыл бұрын

I believe Ukraine is 5% if you stay there 6 months a year? winters are too cold. Plus lets see what happens with Russia. Columbians are super nice and great warm weather!

@theItalianshamrock

2 жыл бұрын

100% agree with Colombia and Brazil. Not sure how hard it is to start a business there as an expat or the taxes they would charge you but the weather, women, and lifestyle make you raise your standard as a man

@finallyfriday.

2 жыл бұрын

Russia/Ukraine slam into the wall at 30, max. Good for girls, lousy for wives.

@elfulano5884

2 жыл бұрын

What about Belgrade?

That list is a joke, and not a funny one either.

Those rankings are a joke. It's like looking at countries' freedom rankings where you see Australia and the Scandinavian countries at the top.

@lerryperry

2 жыл бұрын

I know, right. 😂😂😂

Because nobody wants to deal with 3rd world Croatia. Young entrepreneurs need the predictability of a London or Los Angeles.

@torontovoice1

2 жыл бұрын

I think you're right. Taxes are important if you have a particular business that is structured in such a way that you're completely oblivious to the banking system. It's getting tougher and tougher all the time

@nicolas4771

2 жыл бұрын

Croatia third world? Have you been there??

I love the "quite frankly, quite frankly, quite frankly..."

As a beginning entrepreneur the cost of living, especially rent, in those places will eat you up alive.

@AV-iw3xc

2 жыл бұрын

Nope. Broke mindset, you find a way to make and exceed those around you but there’s a lower ceiling on that in certain areas, especially in time zone beholden businesses. As an entrepreneur that started in the Bay Area, I’m glad I started there because making big money become a habit, not an intimidation.