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Hey guys,
A little intro about myself. I haven't finished Millionaire Fast Lane, but I'm on my way.
I've lived and grown up in Canada my entire life. At 16 I dropped out of high school to travel, did 17 countries in 3 months solo. Every year since I've added another country or two and am now up to 33 countries (I actually ended up graduating before my friends who stayed in school, despite being a year behind). I visited some friends I had met online in their small town in southern Croatia and fell in-love with the country. For the last 6 years, I haven't done much travel outside of Croatia, Montenegro, Bosnia, etc. It's the only place I care to be. Since I was 16 I've been working towards that goal of moving to Croatia. Unfortunately, in 2013 Croatia joined the EU and as such really tightened up their residence visa requirements. Being a guy that didn't finish College and didn't go to University, I figured I didn't stand a chance and the only way to make it work was to make boat loads of cash and buy my way in through Real Estate (only grants you temporary residency for 6 months out of the year), or Entrepreneurship (their requirements for this are absurd).
My issue here in Canada has always been motivation. I hate it here, and I've hated it here for as long as I can remember. This is probably crazy person talk to most, as half the world seemingly wants to live here. I get it, grass is greener, yada yada. It's hard to put the work in when you're self-employed when you hate the place you're in. I've always paid my bills, drive a nice new-ish truck and own my own house. I've never done without, but I'm not rolling in dough either. This is largely due to the absurd cost of living in this country, and also due to my lack of motivation to succeed in this country. By many people's definition, I have succeeded. I'm financially comfortable, have a truck, a house on some acreage and seemingly live a pretty nice life with month-long trips to Croatia every year. Not a bad life, but I'm not happy. I can't stand the people, the politics, the lack of culture and identity, and the left-leaning politics that in my opinion is absolutely crippling innovation and growth in this country. I'm tired of paying exorbitant amounts in taxes every year. Be it income tax, sales tax, carbon tax, property tax, etc. I need change.
When COVID hit, I knew this was my chance to start accumulating cash and getting this done once and for all. Now, it was around this time I was exploring other options in the Balkans that may prove easier. My goal was to get closer to my friends, and anywhere in the Balkans was good enough for me. I heard about Montenegro's easy path to residency through incorporation, and I immediately contacted some lawyers over there to clarify some things. It really is as easy as they make it sound - on paper. The reality is that once you're on the ground it's an ex-Yugoslav bureaucratic mess. Regardless, I got it done and am now a resident of Montenegro with my corporation there. The painstaking paperwork, dealing with incompetent government and bank officials, accountants and "lawyers", etc was well worth it. I think my experience was an isolated one, as other expats I speak with haven't had the issues I had. I took advantage of 8 years 0% corporate tax scheme by registering in the north of the country where no expat dares go. The problem is the police, banks, post office, notary, etc are not familiar with the residence application process there and they had some issues that ended up costing me thousands of Euros in flight changes, accommodation, rental cars, etc. Anyways...
I spent a couple months there this summer getting it all done and familiarizing myself with the local people, mentality, finding out what their buying power is, etc to see what businesses I could do. where I wanted to live, and so on. Even comparing to Croatia, Montenegro is missing a lot of services, and the way they do some things is so archaic it makes me laugh. But hey, if it works, why change it, right? I mean when I opened my three bank accounts, the teller pulled out a literal ledger and hand wrote my account details, name, address, etc.
I came back to Canada completely rejuvenated and ready to go. I'm putting my house up for sale in less than two weeks, and will take a sizable amount of cash with me to restart my life entirely. I'm going to be in a position where if I'm smart, I'll never have to worry about money again. I'm going to buy some land on the Adriatic Sea, build myself a modest home, and then decide if I want to flip it (labour costs are very cheap there), rent it out to tourists, or live in it myself. I've got a plethora of business ideas (mainly service based) that I'm itching to explore. I've never been this motivated in my life. It's an amazing feeling. There's so much potential in this tiny country that I can't wait to start making more friends, connections and money.
I would highly recommend Montenegro to anyone who's fed up with Western society and looking to relocate. 9% flat income tax, 0% Corporate Tax for 8 years if you register in the North, or 9% otherwise, extremely low cost of living ($1,000/mo is plenty), beautiful climate, up & coming nation trying to get into the EU (bad thing in my opinion, but not my country), easy access to the rest of Europe and the most important thing for me - a place where I can raise a family comfortably without too much government meddling in my affairs, and a generally sane, proud people that just let you live your life.
If anyone has any questions, feel free to post them here and I'd be happy to answer, or message me privately. I'm new here so bare with me as I figure out how to navigate the forums and respond to people in the proper format. I'll check the rules and whatnot and see if I can make another post similar to this one with more detail on Montenegro itself and the process.
Hvala puno!
A little intro about myself. I haven't finished Millionaire Fast Lane, but I'm on my way.
I've lived and grown up in Canada my entire life. At 16 I dropped out of high school to travel, did 17 countries in 3 months solo. Every year since I've added another country or two and am now up to 33 countries (I actually ended up graduating before my friends who stayed in school, despite being a year behind). I visited some friends I had met online in their small town in southern Croatia and fell in-love with the country. For the last 6 years, I haven't done much travel outside of Croatia, Montenegro, Bosnia, etc. It's the only place I care to be. Since I was 16 I've been working towards that goal of moving to Croatia. Unfortunately, in 2013 Croatia joined the EU and as such really tightened up their residence visa requirements. Being a guy that didn't finish College and didn't go to University, I figured I didn't stand a chance and the only way to make it work was to make boat loads of cash and buy my way in through Real Estate (only grants you temporary residency for 6 months out of the year), or Entrepreneurship (their requirements for this are absurd).
My issue here in Canada has always been motivation. I hate it here, and I've hated it here for as long as I can remember. This is probably crazy person talk to most, as half the world seemingly wants to live here. I get it, grass is greener, yada yada. It's hard to put the work in when you're self-employed when you hate the place you're in. I've always paid my bills, drive a nice new-ish truck and own my own house. I've never done without, but I'm not rolling in dough either. This is largely due to the absurd cost of living in this country, and also due to my lack of motivation to succeed in this country. By many people's definition, I have succeeded. I'm financially comfortable, have a truck, a house on some acreage and seemingly live a pretty nice life with month-long trips to Croatia every year. Not a bad life, but I'm not happy. I can't stand the people, the politics, the lack of culture and identity, and the left-leaning politics that in my opinion is absolutely crippling innovation and growth in this country. I'm tired of paying exorbitant amounts in taxes every year. Be it income tax, sales tax, carbon tax, property tax, etc. I need change.
When COVID hit, I knew this was my chance to start accumulating cash and getting this done once and for all. Now, it was around this time I was exploring other options in the Balkans that may prove easier. My goal was to get closer to my friends, and anywhere in the Balkans was good enough for me. I heard about Montenegro's easy path to residency through incorporation, and I immediately contacted some lawyers over there to clarify some things. It really is as easy as they make it sound - on paper. The reality is that once you're on the ground it's an ex-Yugoslav bureaucratic mess. Regardless, I got it done and am now a resident of Montenegro with my corporation there. The painstaking paperwork, dealing with incompetent government and bank officials, accountants and "lawyers", etc was well worth it. I think my experience was an isolated one, as other expats I speak with haven't had the issues I had. I took advantage of 8 years 0% corporate tax scheme by registering in the north of the country where no expat dares go. The problem is the police, banks, post office, notary, etc are not familiar with the residence application process there and they had some issues that ended up costing me thousands of Euros in flight changes, accommodation, rental cars, etc. Anyways...
I spent a couple months there this summer getting it all done and familiarizing myself with the local people, mentality, finding out what their buying power is, etc to see what businesses I could do. where I wanted to live, and so on. Even comparing to Croatia, Montenegro is missing a lot of services, and the way they do some things is so archaic it makes me laugh. But hey, if it works, why change it, right? I mean when I opened my three bank accounts, the teller pulled out a literal ledger and hand wrote my account details, name, address, etc.
I came back to Canada completely rejuvenated and ready to go. I'm putting my house up for sale in less than two weeks, and will take a sizable amount of cash with me to restart my life entirely. I'm going to be in a position where if I'm smart, I'll never have to worry about money again. I'm going to buy some land on the Adriatic Sea, build myself a modest home, and then decide if I want to flip it (labour costs are very cheap there), rent it out to tourists, or live in it myself. I've got a plethora of business ideas (mainly service based) that I'm itching to explore. I've never been this motivated in my life. It's an amazing feeling. There's so much potential in this tiny country that I can't wait to start making more friends, connections and money.
I would highly recommend Montenegro to anyone who's fed up with Western society and looking to relocate. 9% flat income tax, 0% Corporate Tax for 8 years if you register in the North, or 9% otherwise, extremely low cost of living ($1,000/mo is plenty), beautiful climate, up & coming nation trying to get into the EU (bad thing in my opinion, but not my country), easy access to the rest of Europe and the most important thing for me - a place where I can raise a family comfortably without too much government meddling in my affairs, and a generally sane, proud people that just let you live your life.
If anyone has any questions, feel free to post them here and I'd be happy to answer, or message me privately. I'm new here so bare with me as I figure out how to navigate the forums and respond to people in the proper format. I'll check the rules and whatnot and see if I can make another post similar to this one with more detail on Montenegro itself and the process.
Hvala puno!
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