This is brutal — the EU is forcing banks outside the EU to stop providing core banking services to EU residents, unless those banks set up a licensed branch inside the EU. Note that what matters is your residence, not your passport — an EU citizen who is tax resident elsewhere is not affected. If you want to avoid trouble opening an account with any non-EU bank in the future, I recommend securing residency outside the EU (we'll gladly help with Paraguay, Uruguay or Panama). As an EU resident, you may already run into problems opening a bank account outside the EU from next year. EU Directive 2024/1619 ("CRD VI") introduces a new Article 21c. From 11 January 2027, it prohibits banks established outside the EU from providing core banking services — including deposit-taking — to clients established or situated in the European Union, unless the bank operates a licensed branch in the relevant member state.

Germany does NOT take 50% tax of everything you make. Germany has a progressive income tax system. Meaning: - You don't pay the highest rate on your full income. - You only pay it on the part above the threshold. - The max income tax rate is 45%. - Everything below that is taxed in lower brackets. So no, if someone in Germany makes $117k, the government doesn't just take half. For companies, it's different. Corporate tax, trade tax, distributions, etc. Germany has many problems for founders. But let's at least hate on the correct ones.