Tax heaven countries

[Marian1988]

Just curious...

Anyone have moved in a tax heaven country?

Or if you need to move, where would you?

Personally I think Monaco would be my choice

 

[Sephrata]

Why chose Monaco? Do you like to spend money?

 

[Heiko]

I think cayman islands or Bahamas would be my choice.

 

[Sephrata]

Panama is a good choice - very easy to get residency and no requirements to spend a minimum number of days each year

 

[theRevolt]

Just curious...

Anyone have moved in a tax heaven country?

Or if you need to move, where would you?

Personally I think Monaco would be my choice

Most people worry about not paying taxes when they do not make that much that it is worth the hassle. Focus on making more money first then consult a tax lawyer that knows his stuff, while it might be a fun question to ask on a forum it's pretty useless. The big fish that really profit from this won't be posting the stuff here.
Do you have enough funds to live in Monaco? While tax laws may be favorable, it is for the rich and famous so getting a bank account there etc. goes along with that (forget your $100 despot for a new bank account).
Either way, check whether your country of citizenship still taxes you on worldwide income (USA for example), or whether you can still spend X days in your home country without having to pay taxes etc.
Good luck

 

[St0necold]

Just curious...

Anyone have moved in a tax heaven country?

Or if you need to move, where would you?

Personally I think Monaco would be my choice

Whats the point of moving to expensive Monaco if you want to save on taxes?

 

[JohnnyWOW]

Most people worry about not paying taxes when they do not make that much that it is worth the hassle. Focus on making more money first then consult a tax lawyer that knows his stuff, while it might be a fun question to ask on a forum it's pretty useless. The big fish that really profit from this won't be posting the stuff here.
Do you have enough funds to live in Monaco? While tax laws may be favorable, it is for the rich and famous so getting a bank account there etc. goes along with that (forget your $100 despot for a new bank account).
Either way, check whether your country of citizenship still taxes you on worldwide income (USA for example), or whether you can still spend X days in your home country without having to pay taxes etc.
Good luck

I agree with @theRevolt feedback, some valuable words here...

I have traveled 9 different countries, still living where taxes are pretty high....you just need to focus on making more...

 

[Alex D.]

Whats the point of moving to expensive Monaco if you want to save on taxes?

Maybe he thinks that Monaco is a cheap city.

 

[theRevolt]

Maybe he thinks that Monaco is a cheap city.

Well, most people just think "I am paying so much in taxes" and see other places with low / 0% taxes. However, they fail to do their research and would obviously know that any government will have to find an alternative way to make money. It is like when people move for saving some money on the monthly rent, but if they hire a moving company and divide that by 12 per month it likely will be the same (leaving out yearly increases etc. just a simple comparison).
There is more than 30-40% tax vs. 0% tax that needs to be considered before you move.

When you have enough money to consult a top tax attorney in your country then, and just maybe, you may be ready to think about this.

 

[Marian1988]

Maybe he thinks that Monaco is a cheap city.

Maybe not... as I have been living there ha

It was just a question out of curiosity, why so UPTIGHT?
I did not ask for advice...
So just by asking which one would choose, I ended up having no idea about this and that....whatever, smartasses.

 

[Marian1988]

Why chose Monaco? Do you like to spend money?

I lived there for a while and I like overall South of France

 

[Marian1988]

Whats the point of moving to expensive Monaco if you want to save on taxes?

So no point for all the millionaires and billionaires that relocated to Monaco because of the taxes as it is expensive there? Hmmmm, ok.

 

[theRevolt]

So no point for all the millionaires and billionaires that relocated to Monaco because of the taxes as it is expensive there? Hmmmm, ok.

Millionaires/Billionaires do not ask on a forum, they have highly paid tax lawyers do handle this for them.

PS. You should us multi-quote instead of responding to everybody individually.

 

[Marian1988]

Millionaires/Billionaires do not ask on a forum, they have highly paid tax lawyers do handle this for them.

PS. You should us multi-quote instead of responding to everybody individually.

My question was "If you need to move, where would you?" Not: "This is my story, where should I go, what should I do?" It was just a curiosity questions.

Anyway, not here to have pointless arguments.

 

[SkyrocketSEO]

So no point for all the millionaires and billionaires that relocated to Monaco because of the taxes as it is expensive there? Hmmmm, ok.

Millionaires live in Monaco cause it is a perfectly normal thing to park a Rolls Royce in a public garage in Monaco, or anywhere else in Monaco, no one is going to point fingers. Besides this, Monaco is a place where everything is clean, taken care of and besides glamour you have natural beauties. On top of that there is this tax thing that everything is talking about, but if I was loaded with money I would choose Monaco for safety, cleanliness and over the top luxury.

At least I felt safe there, when I visited it a month ago. I also saw the prices of apartments and I am pretty sure I wont be buying one any time soon

 

[kekmaw]

I moved to Dubai for the tax benefits. It’s clean, modern, 0% tax and no bs paperwork required. It’s easy to move here, just set up the company and go through the process of getting your visa by having your own company sponsor it.

FYI if you don’t make over 100k a year there is no point of moving anywhere. There are costa involved with moving, setting everything up and living. So put that extra effort into your business then consider relocating.

It costs about $10k to get setup with the business here then another $6k every year after that for your company license.

 

[theRevolt]

My question was "If you need to move, where would you?" Not: "This is my story, where should I go, what should I do?" It was just a curiosity questions.

Anyway, not here to have pointless arguments.

Only if you "had to move" there likely would not be many choices As a just for fun question this is fine, but you do see many people asking this seriously as they are considering moving because of the high taxes. Little do they know that they just do not have the money and thus a slim selection of where they can actually move to.

Millionaires live in Monaco cause it is a perfectly normal thing to park a Rolls Royce in a public garage in Monaco, or anywhere else in Monaco, no one is going to point fingers. Besides this, Monaco is a place where everything is clean, taken care of and besides glamour you have natural beauties. On top of that there is this tax thing that everything is talking about, but if I was loaded with money I would choose Monaco for safety, cleanliness and over the top luxury.

At least I felt safe there, when I visited it a month ago. I also saw the prices of apartments and I am pretty sure I wont be buying one any time soon

Yep, rich people (or just well off) tend to live in areas where other wealthy people do live as it is less hassle. Overall here I see Bentleys at the regular supermarket, McLaren at whole foods yesterday, so really nothing special and nobody cares (just as nobody pays attention to crazy outfits etc. in NYC)

 

[KKenneth345]

The list of tax haven countries are getting smaller and smaller every year. I believe for Monaco you need to show minimum 5million net worth to be considered for citizenship.