Millionaire Reveals: Real Reasons and Costs of Moving Abroad
According to Gerald Hörhan, fewer than one percent of people can genuinely move abroad. He stresses that actual reasons and costs, such as taxation and loss of social networks, are often overlooked.
Gerald Hörhan, CEO of Investmentpunk Academy GmbH, challenges the widespread dream of emigrating. He states that over 90 percent of individuals cannot realistically relocate due to factors concerning employment, family, and financial standing. Hörhan explains that a successful emigration requires three concurrent conditions: the ability to integrate one's profession in the destination country, family ties that allow for flexibility, and a sufficient financial base. Professional qualifications are often difficult or impossible to get recognized abroad. Furthermore, family responsibilities, such as children in school or elderly parents needing care, pose significant barriers for the majority. For the few who can consider moving, considerable challenges remain. Hörhan highlights issues like language barriers, the absence of a social support system, extreme climates, differing legal systems, and environmental concerns. Additionally, departing from countries like Germany can incur a substantial exit tax (Wegzugsteuer), potentially reaching hundreds of thousands of euros for business owners. Ultimately, Hörhan estimates that fewer than one percent of the population meets the criteria for a genuine emigration. He argues that purely tax-driven motives are rarely sufficient justification, and the true reasons lie in pursuing quality of life, security, or personal freedom, provided the fundamental prerequisites are met.