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Helsinki Relocation Package: City as a Service

helsinkibusinesshub.fi

51–60 of 632 posts

Re: Helsinki Relocation Package: City as a Service

#51

I'm confused if this is for people that are already employed (aren't there tax implications for working in another country?) or for startup founders, or startup employees?

You won’t be taxed by the Finns since you need to be there 181 days to be considered a tax resident. For those staying for about a year, the US has a FEIE exemption that kicks in for the first 105k or so anyway. No exception for California taxes, however.

Re: Helsinki Relocation Package: City as a Service

#53

I was lucky enough to have a company funded stint in Helsinki some years ago. The tech culture is vibrant and interesting. Most everyone speaks English better than most in the US. It can also be a place where it's hard to make friends -- I still have a handful (former colleagues, etc) -- just cultural. I'll consider applying again as it would give me a fun way to expose my girlfriend and her kid (she already chats wi…

Can you please elaborate more on why it is hard to make friends? Thanks!

Re: Helsinki Relocation Package: City as a Service

#54
post #32

Earlier quoted context omitted.

Also: 24% VAT (sales tax) 18% employer payroll taxes 10% employee payroll taxes 20-30% typical income tax Take your American disposable income and cut it in half. Still worth it for 'free' education and 'free' healthcare? Also a lot of cold and darkness.

> Still worth it for 'free' education and 'free' healthcare? Yes.

Yes, because I'd rather live in a society where everyone has a decent education, instead of segregating the population based on who can pay to become smarter.

Re: Helsinki Relocation Package: City as a Service

#56
post #19
post #12

“Participants can apply between 4.11.2020-10.12.2020.”

The only thing worse than mm-dd-yyyy is dd-mm-yyyy. Long live yyyy-mm-dd

"yyyy-mm-dd" and "dd-mm-yyyy" are both sorted - one descending, one ascendig.

"mm-dd-yyyy" is just an arbitrary bag of entities, and a part of the population memorizes the order of them.

Re: Helsinki Relocation Package: City as a Service

#57
post #2

This is honestly a great way for tech entrepreneurs to experience Nordic living. The fact is Finland has one of the most startup friendly environments around: — top schools (Aalto U. produces incredibly talented engineers) — startup friendly ecosystem (cheap rents, cheap internet) — Finnish work culture (direct, no nonsense, hard working but balanced) — fantastic food and beverage scene in downtown Helsinki My wife i…

Also: 24% VAT (sales tax) 18% employer payroll taxes 10% employee payroll taxes 20-30% typical income tax Take your American disposable income and cut it in half. Still worth it for 'free' education and 'free' healthcare? Also a lot of cold and darkness.

> Still worth it for 'free' education and 'free' healthcare?

No brainer, absolutely worth it.

Even making good money in Silicon Valley I'm perpetually afraid of medical bankruptcy if something were to happen. And the cost of education here takes another 15% off my salary for schools far lower quality than in Finland.

Re: Helsinki Relocation Package: City as a Service

#58
>We’re not after your money

Paying very high income taxes and having a salary under half what you get in the states is at least buying the Finnish government one tesla a year.

That said, it's almost worth it because Finland is a great place to live.

It's just too bad you trade your own wealth stock pile for the possibility of getting in on that social welfare that may not pan out in the long run (most is not applicable to you as a foreigner in the prime of your life).

As an American that worked in Denmark quite a while, I'll say it's a major trade off. Financially, I'm definitely poorer for having done so. But it was a terrific time in my life.

I'd like to see some reduced taxes for foreigners not eligible for the services until they're proper and permanent.

Re: Helsinki Relocation Package: City as a Service

#59
post #2

This is honestly a great way for tech entrepreneurs to experience Nordic living. The fact is Finland has one of the most startup friendly environments around: — top schools (Aalto U. produces incredibly talented engineers) — startup friendly ecosystem (cheap rents, cheap internet) — Finnish work culture (direct, no nonsense, hard working but balanced) — fantastic food and beverage scene in downtown Helsinki My wife i…

Also: 24% VAT (sales tax) 18% employer payroll taxes 10% employee payroll taxes 20-30% typical income tax Take your American disposable income and cut it in half. Still worth it for 'free' education and 'free' healthcare? Also a lot of cold and darkness.

I mean if you do the math on it, it's a lower upfront cost for everyone with insurance that you won't be bankrupted by chance, thus creating more stable more incremental wealth.

So it depends, but as a general policy it's far more sensible to have stability than not.

The question should be whether we could lower those costs (taxes) and still have the free education and free healthcare, and if so what are the compromises to be made in order to do that.

Remember it's not a zero sum game, which means a nation can start to produce wealth or save on costs, bringing up efficiency and lowering the required taxes per person to deliver the same goods and service.

The real problem is corruption, and inefficiencies.

Re: Helsinki Relocation Package: City as a Service

#60
post #2

This is honestly a great way for tech entrepreneurs to experience Nordic living. The fact is Finland has one of the most startup friendly environments around: — top schools (Aalto U. produces incredibly talented engineers) — startup friendly ecosystem (cheap rents, cheap internet) — Finnish work culture (direct, no nonsense, hard working but balanced) — fantastic food and beverage scene in downtown Helsinki My wife i…

Also: 24% VAT (sales tax) 18% employer payroll taxes 10% employee payroll taxes 20-30% typical income tax Take your American disposable income and cut it in half. Still worth it for 'free' education and 'free' healthcare? Also a lot of cold and darkness.

If these numbers are correct, the payroll taxes total about 13% higher than American payroll taxes, but if you add in what Americans pay for the health insurance that’s presumably included in one of these taxes, it’s probably fairly similar. 20-30% is a very normal marginal American tax rate, and the VAT is high (looks like it may be lower for certain things), but not ridiculous compared to a lot of American state income taxes (Since the income tax is on income and not just consumption). I’m skeptical of a halving of disposable income, especially for someone moving from somewhere like California.
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