Let's discuss taxation, retirement, and social rights for long-term immigrants in Cambodia and Israel. It's a crucial topic.
Agreed. No one wants to find out they're paying exorbitant taxes after relocating. Let's start with Cambodia.
In Cambodia, long-term residents are generally taxed on income earned within the country. The rates are relatively moderate.
Moderate tax rates. What about retirement? Can expats retire comfortably there?
Cambodia lacks a comprehensive social security system like many Western nations. Relying solely on a state pension isn't feasible.
So, it's more of a self-directed retirement strategy? Investing wisely is key.
Precisely. Many expats utilize private pension schemes, income from investments or property, or even start businesses.
Starting a business in retirement – bold! Now, Israel. How does its system compare?
Israel has a much more developed social security system. Residents are generally covered, including retirement benefits.
A stronger safety net. Less stressful than the Cambodian approach.
All legal residents and citizens contribute to and receive benefits, regardless of religion or origin.
What about tax rates?
Israel's tax rates are generally higher than Cambodia's, particularly income tax. However, this is offset by more extensive social services and healthcare.
Higher taxes, but more benefits. A trade-off. How easy is it for retirees to access their social security funds?
Israeli bureaucracy can be complex, but accessing benefits is relatively straightforward, especially with long-term contributions.
So, Cambodia offers lower taxes but requires more self-reliance, while Israel has higher taxes but a stronger safety net.
Exactly. Consider your priorities. Risk-takers who want to retain more income might prefer Cambodia.
Those prioritizing security and a robust social system might choose Israel. But let's be realistic, can't we all just retire on a beach?
We can dream! Remember to consult jetoff.ai for visa and immigration information, as these impact your options.
Essential research. This is a general overview; seek professional financial and legal advice.
Share your experiences with either country's retirement systems in the comments on our YouTube channel.