What stops me from converting a large portion of my savings in United States Dollars, exchanging them for say Chinese Yuan, and then with that money, live like a king in China? Despite my savings being pretty average in the US, can you not move to a country with a lower quality of life and enter the top 1% instantly?
>live like a king
>in china
>>1703044
Perhaps not China, say India, Russia, Mexico. There are elites who live very well in every country, no?
Not having a bank there.
The quality of living is much different
>>1703070
Maybe I'm misunderstanding, but they have banks no? https://en.wikipedia.org/wiki/List_of_banks_in_China
>>1703074
He's meaning YOU don't have a bank there.
>>1703020
Depends on the laws of the country you're entering. First you need to get your visa approved for permanent residence. Some countries completely block foreign ownership of property, or make it prohibitively expensive, so you either need to get around that through a loophole (local buyer) or find another country. On top of that, some countries place massive taxes on foreign nationals living there, and make you declare how much money you have upon entering (not just what you're carrying).
Latin America is probably your best bet. Avoid any country with a history of socialism and you should be sweet.
>>1703077
I mean, that can be fixed in a few hours, right?
>>1703020
yes pls. fuck america bg
>>1703020
Not top 1%, maybe top 10%.
Top 1% costs pretty much the same no matter where you are.
Also, you want to consider the cost of living in those countries, not the exchange rates. Exchange rate is simply how many currency you can convert to another, use cost of living to compare how well you'd be living.
Then its what >>1703084 said