Destinations, Tax Havens, and Countries to "Escape" To

[Kak]

If you renounce for tax reasons though, you will never be able to enter the US.

I had no idea about this! What other reasons could you claim? Not even as a citizen of another country?

This makes me want to do it more actually. F*ck them, they don't own me.

 

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[GlobalWealth]

I had no idea about this! What other reasons could you claim? Not even as a citizen of another country?

The people I know who have renounced did it mostly for family reasons. For example, they became a NZ citizen because they wanted to re-establish their ancestral heritage.

F*ck them, they don't own me.

Yes they do. Birth certificate = title....think about it.

 

[Kak]

This is ridiculous. The US was once a country that encouraged people to get wealthy, now we punish them for having more than other people. I think we should be the most inviting place in the world for millionaires and billionaires. Instead we are running them off and when they leave we tell them to never come back.

:bgh::bgh::bgh::bgh::bgh::bgh::bgh:

 

[Gsuz]

I'm doing a lot of freelance work at the moment, the companies paying me don't care where they send the money to as I have to file taxes on my own anyways. I also have various websites that I make money off, estimated total for this year is in the high five figure range. I'm living very frugal and don't need a lot of money, just a few hundred euros/month.

I want to save as much money as possible for now, however tax, social security etc are getting quite high already, I'm located in Germany.

So my idea is to create a company on Malta or possibly entirely offshore like Seychelles, receive all my income to the company's bank account and pay myself a small wage per month. However, I read a lot of different opinions regarding this topic, agencies obv tooting their own horn along the lines of "No problem at all", whereas others say it's tax evasion, esp. with known tax paradises like the Seychelles. I think the truth is somewhere in between and thus due diligence is vital in order to be able to decide for the best path to take.


What I'm looking for is opinions, maybe recommendations for experts, your own experiences with similar cases and so on. It would be my pleasure to have some of you voicing their opinion on this. Also feel free to ask any questions you may have.

 

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[Kak]

I don't know how Germany works, but in the US the companies that you freelance with will be writing off what they pay you as a business expense. The paper trail doesn't end there. (1099) Now the government knows where the money went, to you, or some entity that belongs to you.

I am not at all an expert on this, but I dont think it will work that way.

 

[Lathan]

Thanks @GlobalWealth for the knowledge you provided in this thread.

Get on his email list. It will help you out.

This wasn't to me, but I took your advice anyways. Done

 

[Undercover]

I have given this question allot of thought. I do not want to simply place my business there, but I would actually want to live in that place, yet allow myself to travel with ease to meetings and what not.

If you are a real fast-laner, you wouldn't think of having just one home. In Europe, Malta, Monaco, Andorra, Schweiz, Luxembourg. I wouldn't actually know anything about Luxembourg, they sure do keep a low profile. How is life there, anyone that knows?

In Asia, I would probably want to live in Honkong or Australia.

In the Americas, the Cayman Islands or Cuba.

It is also interesting considering the place to choose, in regards of the protection that state can give you. You want to be in a country that is able to withstand any kind of pressure.

Here is some good info I found on Europe:

http://www.dw.de/the-whos-who-of-european-tax-havens/a-16753202

If your budget can't match this, you should consider Andorra. Similar to Monaco it's a nil tax area and has high-speed internet access with very good private banking facilities. Its also considerably cheaper, and you could be looking at £200,000 for a two-bedroom apartment. If you like skiing, another plus point is that Andorra is in the Pyrenees and offers excellent winter sports.

You'll also find that some of the key European jurisdictions such as Cyprus, Malta and the UK will have a large amount of double tax treaties with other countries, which can be useful for reducing tax on any dividends that you may receive.

http://www.dw.de/the-whos-who-of-european-tax-havens/a-16753202

 

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[MJ DeMarco]

Birth certificate = title.

Yup, and you are a chattel to money printing, since it isn't backed by gold.