Super Rich Abandoning Norway due to Wealth Tax Increase

Tax for selling stocks and receiving dividends in Norway is almost 40%.

Norway should implement exit-tax

This is completely insane, I mean they are really looting the people wealth and all that story that they give amazing health care and so for is a total BS, might be good but it is full of gaps and waiting times.

If they punish the smart people that makes money, and create jobs and innovation, they will retain those that are and the base of the pyramid, and that means game over for the future of that country.

Some guy from that country told me, that it is a kind of friendly communist regimen or so... He explained in detail and I was blown away...... He had to pay some small tax fees and they charged tax on the tax..... Wow, total madness, weather is absolutely crap, then you have to pay some kind of different tax , in the sense that you need to flight away every few months to see and feel the real sun and warm weather in your skin.

And Sweden and Denmark even worst, because they have all these flags, plus they dumped in so many people from barbarians places, that actually took over many low income neighborhoods, creating no go zones, and shooting, I mean a completely mess.

Hello from Dubai 🧏🏼‍♀️
Have got a job offer in Norway but got a huge doubt shall I move there or not. I dont want to pay this 1% for things were earned in other country before.
May you please clarify to me (i just 2 weeks collecting info, not much understanding)
If Norwegien resident/ citisen will leave Norway so he /she will be free from this tax cabal the same year, including brokers acc. ect will not be taxed by Norway any more?
Where can I find more imfo how to escape this cabal later?

they are also now discussing adding tax on the gains on individuals stocks too...as if they where to be sold :/

If you have the equivalent of billions of dollars in the bank and you don't want to pay more taxes today, you're being greedy and selfish. I think anybody can live a very good life with $500 millions in any country.

What if it is limited to wealth in bank accounts leaving out physical assets?

Man i hope i win big in the lottery so i can move from norway aswell 😂

Switzerland also levies a wealth tax btw.
But wealthy foreigner can get a Pauschalbesteuerung (basically a flat tax) in some cantons, giving wealth foreigner tax privileges which no Swiss person can obtain (even very wealthy ones).

What an excellent problem to have. You Norwegians are so spoiled. Watching jealously from America 👀

Who cares as they probably pay less tax than normal people.

two comments: 1) you said weather is poor in Norway. but weather has been like that for thousands of years but Norwegians are quite used to it and have adapted to it. 2) high taxes - well Norway has had high taxe rates for decades (about 40-45% since the 1970s). it's the taxe rates in other countries that have come down quite significantly (e.g. in USA, where the richest billionnaires now pay a lower effective tax rate than the working class), making Norway's look higher now.

That is not the worce this goverment comes with. They want me as normal worker to pay 2000 euro a year in tax, because i own my own flat compare to rent it.... Its a normal flat in norway....

I got a fix for that, raise taxes everywhere leaving the rich nowhere to run to. Lower taxes more freedom, for those with plenty of cash.

A lot of rich Indians get ZERO from the Indian government for their tax money. There's a huge country to develop, feed and educated. So many rich Indians also feel like moving too.

It's not a myth: If you have low corporate tax new companies move into the area. These companies hire employees

Why can't they tax the rich for what their company makes, regardless of whether they are or not inside the country?

The communist disease that afflicted Europe is terrible. But I find it funny to read about the mass relocation of Europeans somewhere. You are so accustomed to comfort that you will not take out Asia or Latin America. This is an entirely different lifestyle and you will be aliens forever there, after 1-2 years you will be happy to back and pay 50% tax in your cozy communist Norway.
Therefore, flight is not an option, it is necessary to overthrow the government

A wealth tax is no biggie, Switzerland also has it, but the rates (1.1% wtf?) and the progression is insane.

In Switzerland you cap the progression somewhere arround 0.4-0.6% in most Cantons, plus there's a much lower income tax. So imho it's a fair deal. AND There's no capital gains tax in return, so in a way it's +-0 in the end, as a wealth tax is more consistent for both the tax payer and the state.

Living in norway i think it was a good video. 1% doesnt sound like a lot but it is. The wealth tax here starts once you hit 170.000 USD of total value of all assets. That means your car, your house, the vase and even the kitchen sink has to pas 1% yearly. Then you have to earn money and pay taxes to pay that 1% tax, putting you in a high tax bracket. Its a constant struggle to keep it from eroding away. There is a sence of "good riddens" from the people who live here, but I think its sad. The people who leave are often not only rich but also smart, motivated and ambitious. They also seem to forget whos going to pay the taxes when they leave - you are.

Please don’t show the far-left Guardian newspaper

Having a super overrated currency is also a problem. One of the most expensive places in the world, all is expensive it adds fuel to the fire.

Super smart move from Norway they are pushing away the successful locals and they replace them with poor immigrants because they are easy to control I guess

Michael what do you think about Palau new ID digital residency card?

Wow look at the videography improvement!

I’m Norwegian and thanks for the help getting my affairs set up in an optimized way❤

crazy thing is they have the highest tax revenue to GDP and have the largest sovereign wealth fund from oil so why would they need the money from a wealth tax? just trying to piss people off?

Reminds when AHA's singer Morten Harket was knighted or had some royal condecoration in Norway, A-ha the most successful international band from Norway, he was very sarcastic and said something like ''to be successful we had to leave Norway'' , ' We are a natural resources Superpower but we need to go deeper' pointing out the country's lack of industry or development of technology. Probably so dependant on oil, with the electric car close ahead, they need a new cash crop aka rising taxes.

Clearly not as much solidarity in proudly socialist Norway as citizens like to believe. A wealth tax is good and proper for the really rich at low rates of 3 to 4% not counting a primary residence. In exchange - billionaires should be alright to deduct income taxes and capital gains taxes. I prefer that a billionaire pays 3% on his 2 billion dollar fortune than 50% on his million dollar salary. The latter is not a proper reflection of his fair share.

Another government putting ideology over economics. After shutting the world down due to the stupidity virus, there’s fierce competition by countries for wealthy individuals to help rebuild shattered economies. A lot of countries are starting to take economics very seriously indeed, not socialist Keynesian but Friedmanite, the right to choose. Which globally will be a beneficial blessing.

Huh? Slow down and sit on your hands.

Norway is gonna turn into Venezuela within half a generation

It’s a little funny seeing rich people running around the world and giving up citizenship to escape taxes. Maybe they should have refugee status for all the injustice. Or maybe they should seek amnesty.

I'm pretty sure not just millionaires, but even folks making 6 figures might move out of the Nordics. Yeah, the environment's nice, and stuff's good quality, but you're paying tens of thousands in taxes for services that aren't what they used to be. Wanna see a specialist? Good luck, you're better off shelling out for a private hospital. Education isn't terrible, but it's just meh. The weather sucks, and the culture makes you feel all alone.

Hi there Mr.Rosmer,
Do you help with opening Retail Bank accounts for foreign non residents in countries like Singapore ?
Can I book a free call to enquire about more with you ?

I mean for retail/personal banking btw , not corporate banking.

It's the lefties decision to 'screw the rich. There will be an election in 2 years. It looks like the rightwing parties will win....

Hope everyone leaves the communists states of northern Europe
PS: Living in Germany and thinking of leaving because of the same reason.

I like your style. I like Nomad Capitalist but he's such a snob wedgie boy. You have a more real approach this subject

When governments kill businesses ability to function and the economy grows smaller and the government needs a larger percentage of the total economy to keep their same spending, and thereby reducing business further, don’t they? And that has been happening throughout history, hasn’t it? Greed often kills wealth, doesn’t it. Look at castles along the Danube, river pirates? And in Krakow, the leader built a covered marketplace with very low cost to use, so prosperity? A small piece of a very large pie can be far larger than 90% of a very small one, can’t they? Governments often don’t get that, do they?

You cannot discuss wealth tax without mentioning capital gains tax. Its either the one or the other, having both at the same time sounds like double taxing.

does Norway have an exit tax?

👏🏼👏🏼👏🏼

Please define “super rich” . It would be helpful in understanding your position. Thank you.

"Abillity", "Kuala Lampur", "Send a messesage", "Faild experiment" - I'm afraid your video editor needs a spell checker

The UK under the Labour government had income taxes at 98 percent and overall tax burden for the rich at 102 percent. Most affected people left the uk which led to a union crisis and inflation crisis. The uk went from among the world’s richest countries to needing an imf bailout.

They have tall poppy syndrome there. And this is a case of the vast majority can impose at will upon a tiny minority.

If the Nordic welfare states are to survive (they actually have a lot going for them), they need to treat their business owners and entrepreneurs better than this. It's not only people in the billionaire segment who are leaving now.

When I hear about governments introducing taxes like these, I wonder about what's really going on. Do they have economists that predict that this wealth tax will raise revenue over the next 10 years? Is there some unseen external pressure? Is this some kind of distraction?

I would really like to see a rational analysis of this tax that shows some hope of profit by some reasonable metric, otherwise I'm forced to consider more eccentric theories.

So it’s ok for d regular worker to lose 30 -40 % if there pay but not the ultra rich🤷‍♂️!! I’m sure they won’t be on the bread line after paying wealth tax.. if they want to leave let them at least they have enough money to make that change.. bye bye is what I say to deserters