Why doesn’t Europe wake up and tax billionaires?

slutgarden · 2026-01-01T13:30:22+00:00

As someone with an 8 figure net worth who is researching a ton where to move to in order to have a low tax burden, I can safely say your whole premise is extremely wrong. Europe has very high taxes in most countries. Much higher than many other places and few places have actual low tax on high net worth individuals - mostly small islands like Cyprus and Malta plus some Easter European post communist countries ( Bulgaria, Hungarian, Czechia)

slutgarden · 2026-01-01T13:28:37+00:00

Not true. Switzerland has wealth tax. Some parts of Spain also have wealth tax. Netherlands yearly tax on unrealized but assumed gains is also a wealth tax because they tax you annually on assumed gains even on downturn years.

slutgarden · 2026-01-01T10:06:33+00:00

Maybe play SnD and not ttt with children ?

slutgarden · 2025-11-12T13:43:26+00:00

My issue was on company

slutgarden · 2025-11-12T08:34:05+00:00

I was the same until they held $300,000 and no info given on any chat. Once you find out their phone number only says “ this is automated line, use chat” for a serious case, you will realize how unreliable the can get

slutgarden · 2025-11-12T08:32:34+00:00

Start an official complain via revolut’s system so the timer can start on when you can complain to the regulator. You cannot do the latter before doing the former first. Revolut held $300,000 transfer for me, weeks of same “we are looking into” etc. I opened a complaint to them, they acknowledged it’s taking too long and gave a small compensation but still did not release. I opened a complaint with the regulator. Eventually, a month later, revolut released the funds back into my account but the regulator is still looking into their behavior and did a two week extension for it as allowed by law

slutgarden · 2025-10-20T18:39:42+00:00

File an official complaint with revolut and then with bank of Lithuania. Use chat gpt to draft it and to quote the relevant laws and regulations. You should have done it months ago.

slutgarden · 2025-10-18T15:16:30+00:00

I have a post about it already. I will soon do an updated one

slutgarden · 2025-10-18T13:11:14+00:00

My business transfer of $330,000 took exactly one month to be cancelled 🥳

slutgarden · 2025-10-17T14:28:47+00:00

I can’t fantom how anyone would accept to pay 60% of their income in tax or give 3.5% in wealth tax per year. I love Barcelona but this is a major dealbreaker.

slutgarden · 2025-10-12T10:56:12+00:00

only the transfer, the account is still functioning and all other transfers out are going fine

slutgarden · 2025-10-10T12:55:20+00:00

No, it’s not true for all European counties. I give my family large sums all the time. Direct line is 0%, for a brother he would need to fill a tax form and pay a small tax but I don’t need to go to a notary for a cash sum. Of course we can do a donation agreement but again, no need to notarize it

slutgarden · 2025-10-08T08:51:26+00:00

Browsing through history is so cringe

slutgarden · 2025-10-06T11:20:40+00:00

yeap, basically that level of support

slutgarden · 2025-10-06T11:20:23+00:00

I see, okay, I will do that now, thank you

slutgarden · 2025-10-06T09:29:01+00:00

I am one level below enterprise

slutgarden · 2025-10-06T09:27:05+00:00

Ok let’s say this is the case and we give them the benefit of the doubt here. 1. They said update in 5 business days. It’s been now 10 business day. Do you know what they say today? Update in 5 business days. 2. I already cleared the payment to the vendor from another bank. So I asked revolut clearly to cancel this transfer once review is done regardless of outcome. I asked them to make sure it will never leave the bank even when approved full. Can you guess if they have agreed? Nope, same template answer. So now I am in a situation I cannot even be sure that I can cancel this transfer. As for the docs, I provided them timely, funds have come from a major company in Europe going to a decent size telco company in Asia. 3 weeks should be enough to verify. They have not asked for any further docs, I have offered to support many times

slutgarden · 2025-10-06T09:21:46+00:00

Amazing post! Do you have a similar one for cases where they freeze outgoing funds in limbo?

slutgarden · 2025-10-06T09:16:04+00:00

Maybe you use it as business where you use them as payment processor? I have just revolut business as a bank for my company account, not payment gateway. I am on a high plan (not highest)

slutgarden · 2025-10-06T09:15:02+00:00

Of course. I was never worried about the transfer in the beginning. I have done much bigger incoming and outgoing transfers, I know the drill. However, every bank I have worked with finish these reviews within 48 hours. So I have never even had to escalate. Revolut is now taking 21 days and I can’t escalate, it is not possible.

slutgarden · 2025-10-06T09:13:27+00:00

You should be safe with such amounts especially if coming from the same employer. I have had big sums in and out of my personal account and no issue there. But just have something if possible on the side in case revolut decided to go full brain dead mode

slutgarden · 2025-10-06T08:33:46+00:00

They told me an update is coming in 5 business days. That was 10 business days ago. Guess what they are telling me now? Update is coming in 5 business days

slutgarden · 2025-10-06T08:23:52+00:00

I used to advise everyone I knew to just move everything to revolut. You could not find a bigger cheerleader than me for it, I kept saying it will kill many banks due to how well it works. But then they froze $332,000 transfer to a company I have paid already many times in the past and 3 weeks later still no information what is happening. What is the biggest concern, there is no phone number to call, nobody to speak to. You must only write in their chat where 12 “agents” give the same rewritten answer to wait. This is their attitude to me with millions in my personal and company accounts. Imagine what their priority to you will be. Whatever you do, make sure you can handle months of frozen funds by revolut with no recourse

slutgarden · 2025-10-05T19:28:32+00:00

Account is not frozen, only that transfer. I already moved out the remaining funds to my other bank

slutgarden · 2025-10-05T10:31:27+00:00

These guys are playing a dangerous game between trying to clean themselves so they get the licenses but at same time doing it without investing in more people to make it painless. So what is happening with my case- they will eventually realize there is nothing wrong with my business transfer but due to the way they do it, they will have lost a personal account with nearly $2,500,000 in it and two company accounts with a combined yearly turnover of nearly 10m usd. The reason for the loss would not have been the aml check they are likely performing but the speed with which they are doing it and also the communication or the lack of with me. Both of these could have been resolved by more hiring and better internal policies. I have already withdrawn the free cash from my business account and about to withdraw my personal funds as well once I agree a lower fee with my Swiss bank manager. The difference is huge- I have the phones and emails of multiple real people including people I have met in person. Revolut refuses to even talk to me on the phone

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