In this paper we study the effects of cultural determinants on the migration flows across countries and the financial flows back to the country of origin of the migrants in the form of remittances. We present econometric models for migration and remittances and test the relations between migration and remittances on one hand and cultural dimensions on the other hand. We find that collectivist countries produce more migrants per one inhabitant. This finding corresponds to social reason for migration - to be closer to family or friends, or social networks. In addition we find that countries with more pronounced long-term orientation and countries with pronounced indulgent values attract more remittances from abroad.