Cyprus is the easiest (if expensive) way to get an EU passport which is useful for travel. I don't read much past that. He already has an army of lawyers and accountants to deal with his taxes.
Eric Schmidt has applied to become a citizen of Cyprus
21–30 of 401 posts
Re: Eric Schmidt has applied to become a citizen of Cyprus
#22Earlier quoted context omitted.
Why do people think this is a "bad thing"? It's no different than buying an expensive home anywhere in the world, except it comes with a citizenship. I doubt he can use the favorable taxation - he would have to renounce his US citizenship for that.
Some people might see the ultra wealthy in the USA of late as having taken part in destroying the country and also preparing to leave it, which they can do thanks to their wealth. Pete Thiel and his New Zealand plans are another more explicit example.
Some people might see he knows who won the reelection.
Re: Eric Schmidt has applied to become a citizen of Cyprus
#23Earlier quoted context omitted.
Why do people think this is a "bad thing"? It's no different than buying an expensive home anywhere in the world, except it comes with a citizenship. I doubt he can use the favorable taxation - he would have to renounce his US citizenship for that.
How different is this from oligarchs using private jets to escape lockdowns?
People escaping lock downs in jets and boats are annoying, but at least understandable. Given the opportunity to escape to somewhere physically safer, I’d probably do the same thing.
Expatriating your massive wealth to avoid paying taxes makes it feel like they’re performing a smash and grab job on the whole country. Doubly so because the people doing this would still be fantastically wealthy if they stayed and paid their taxes; they’re just doing it to be even richer still.
Re: Eric Schmidt has applied to become a citizen of Cyprus
#24I don't blame him for taking advantage of the system. What I blame him for is all of his supposed altruistic bloviating. No different than a Russian oligarch.
Huh, why not? If not for people taking advantage of "the system", "the system" would not exist. I mean; here we have a guy that has taken all the advantage of all the benefits a developed industrial country has to offer and then in turn does everything in his power to give back as little as possible. Hell yeah I'm going to blame him. It's not moral behavior. I don't care whether it is legal or not, he's behaving like…
> It's not moral behavior.
Getting a second citizenship?
Re: Eric Schmidt has applied to become a citizen of Cyprus
#25Earlier quoted context omitted.
Huh, why not? If not for people taking advantage of "the system", "the system" would not exist. I mean; here we have a guy that has taken all the advantage of all the benefits a developed industrial country has to offer and then in turn does everything in his power to give back as little as possible. Hell yeah I'm going to blame him. It's not moral behavior. I don't care whether it is legal or not, he's behaving like…
> It's not moral behavior. Getting a second citizenship?
The act is not in question...its the motives that are.
Re: Eric Schmidt has applied to become a citizen of Cyprus
#26Earlier quoted context omitted.
Why do people think this is a "bad thing"? It's no different than buying an expensive home anywhere in the world, except it comes with a citizenship. I doubt he can use the favorable taxation - he would have to renounce his US citizenship for that.
Some people might see the ultra wealthy in the USA of late as having taken part in destroying the country and also preparing to leave it, which they can do thanks to their wealth. Pete Thiel and his New Zealand plans are another more explicit example.
Gabe Newell just applied for NZ citizenship as well
Re: Eric Schmidt has applied to become a citizen of Cyprus
#27The article does not mention why, but considering that cypress has an extradition treaty with the States of America, It’s likely for tax reasons as all rich people do
Re: Eric Schmidt has applied to become a citizen of Cyprus
#28I don't blame him for taking advantage of the system. What I blame him for is all of his supposed altruistic bloviating. No different than a Russian oligarch.
Huh, why not? If not for people taking advantage of "the system", "the system" would not exist. I mean; here we have a guy that has taken all the advantage of all the benefits a developed industrial country has to offer and then in turn does everything in his power to give back as little as possible. Hell yeah I'm going to blame him. It's not moral behavior. I don't care whether it is legal or not, he's behaving like…
[flagged]
Re: Eric Schmidt has applied to become a citizen of Cyprus
#29Earlier quoted context omitted.
> It's not moral behavior. Getting a second citizenship?
The act is not in question...its the motives that are.
Less hassle with visas? If you want to avoid taxation there are better places to go than Cyprus.
People go to Cyprus specifically because they want a Schengen passport.
Re: Eric Schmidt has applied to become a citizen of Cyprus
#30I literally just read an article 10 minutes ago saying he is expected to lead a tech industry taskforce for the Biden administration. Not a good look to be taking on a more involved role in US governance the exact same moment you're applying for citizenship of a different country.
Like, I really wish there was some way we could tell Biden like "yo, we voted you in, but please don't let Eric Schmidt in with you".