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Best country to move for tax purposes?

Discussion in 'Making Money' started by WebsiteLiving, Feb 5, 2014.

  1. WebsiteLiving

    WebsiteLiving Registered Member

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    Hey guys,

    I have an online income that is enough to live off in most countries. However, the country that I live in has very high taxes.

    What would be a smart place to move, purely for tax purposes, and where it's easy to start a company, and preferably has some sun :p

    Thanks in advance
     
  2. wuquater

    wuquater Junior Member

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    Andorra

    Between Spain and France, a small country which is a hidden tax heaven, or Luxembourg, latter one has not much sun though
     
  3. laowai

    laowai Power Member

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    You could also just setup an company to low tax country like Hong Kong, no need to move there. Then just choose a place to stay where is sun and whatever you prefer.
     
  4. dan7899

    dan7899 Newbie

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    Just avoid Poland... Almost no sun and taxes high as Yao Ming :biggrin1:
     
  5. tushar3

    tushar3 Registered Member

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    come to India. :)
     
  6. the-dream

    the-dream Regular Member

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    Switzerland? South Korea?
     
  7. lostuptime

    lostuptime Newbie

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    I would recommend the country Belize.
     
  8. ChrisX

    ChrisX Jr. VIP Jr. VIP Premium Member

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    Hong Kong, Belize, Panama etc allow you to incorporate and not pay company tax.
    So there really is no need to live there for tax purposes.

    Monaco, on the other hand, doesn't charge its residents income tax, which is why property prices there are sky high. That's the place to move when you're wealthy.
     
  9. blackberry

    blackberry Power Member

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    I would suggest the state of Nevada in the good old USA.

    There is no individual or corporate income tax in this state and 300 days of sunshine every year :)
     
  10. emperorjones

    emperorjones Junior Member

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    I suggest forming two corporations. One in Belize and one in Panama (for example).

    1. Create corporation #1 in Belize or a similar country with zero income tax against profits made outside of the country (panama, hong kong? - research this).

    2. Create corporation (or trust) # 2 in Panama (or similar) - Panama also has zero income tax against profits made outside of the country, but more importantly they do not keep a record of who the owners of a corporation are on file. They only keep a record of who the company agent is. The agent (your private agent/lawyer) keeps the records. Only in the event of illegality will they request this info from the agent - (trick - don't give the agent correct info).

    3. Have corporation (or trust) #2 be the 100% owner of corporation #1, while you are the 100% owner of Corp #2.


    4. Open bank account in Corporation #1 country (ie belize). The bank account will be in Corporation #1's name with the owner of Corp #1 listed as Corporation #2.

    Now if your gov't ever gets the bank records, they still will have no idea (and won't be able to figure out) that you are behind it. This works in the United States with the IRS - which will eventually get bank records from every tax haven IMO.
     
  11. TheUnborn

    TheUnborn Elite Member

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    Mauritius is a good place for foreigners to escape tax.There is a video on it on youtube,will try to get that and post it here.
     
  12. wellnessnot11

    wellnessnot11 Newbie

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    but the question i have is how do you get the money out of the tax haven company bank account, if you are still living in a high tax country like USA?
     
  13. WinningIO

    WinningIO Regular Member Premium Member

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    Stick with HK, open an international bank account with HSBC/CitiBank, get their Debit/Credit cards that you can use everywhere.
     
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