Norway and Germany have recently implemented an 'exit tax' on startup founders, sparking significant concern among the startup community. This tax, exceeding 30% of the startup's valuation, is applied when founders decide to leave the country, even if they have not personally extracted any financial benefit from their company. Critics argue that this move has transformed Norway from an unfavorable to a highly toxic environment for startup operations, citing the combination of wealth tax and exit tax as detrimental. The debate has extended to the broader European startup ecosystem, with founders now questioning the best jurisdiction for incorporation in light of these changes.
Three destinations βbetter than Portugalβ for retired expats who βwant to pay less taxes in Europeβ https://t.co/2bgyiHRihg
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seriously insane. #Norway makes you pay an exit tax on the money raised for your company.. AI would not be this stupid. Maybe it's time to let it run things... @ASvanevik https://t.co/GlMiIFXt1i
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Germany and Norway have both adopted an "exit tax" on startup founders. Sure. So what's the best place to incorporate as a Euro founder now? π€ https://t.co/GlEDCm9Cfw
Norway has sadly gone from a bad to a horrible country to start and operate a startup in. Now with two taxes on unrealised gains and paper value (wealth tax and exit tax). A toxic startup-killing tax cocktail with no real reason to exist beyond ideological tunnel vision. https://t.co/M6MojrBq65
βIf you leave the country having raised money for your startup, youβll now have to pay an exit tax of >30% of your startupβs valuation - even if you never got a dollar out of the startup personally!β π³ Goddamn. https://t.co/3OZHeMa47g