simon
2016-05-28 20:03
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jumichot
2016-06-03 17:33
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maxsuur
2016-07-31 19:22
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yura-by
2016-08-09 00:42
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maxsuur
2016-08-19 11:43
Hi guys, I was just tinkering with easy and low cost tax residencies in Europe for EU nationals to establish a home base. Any ideas?
kim
2016-08-19 21:02
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kl5340dc
2016-09-27 11:42
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kl5340dc
2016-09-27 13:42
@kl5340dc has left the channel
agalt
2016-10-05 22:30
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jase
2016-10-11 12:44
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rjmarsden
2016-10-16 07:44
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agalt
2016-10-22 17:53
bulgaria, montenegro (when they join the eu), Georgia (when they join)
jase
2016-10-22 18:46
Are you eligible for dual citizenship in the region @maxsuur ?
jase
2016-10-22 18:46
and what tax rate are you looking for?
jase
2016-10-22 18:49
Probably the easiest I'm aware of for EU citizens is Switzerland http://live-in-switzerland.com/e/residency/independent-means.html
jase
2016-10-22 18:51
I believe you can get personal tax to around 20% over there
jase
2016-10-22 18:51
If you're earning a lot, you can negotiate less
maxsuur
2016-10-22 23:45
I am looking for 0 tax rate or lowcost 5%
maxsuur
2016-10-22 23:46
I think 20% is way too much
maxsuur
2016-10-22 23:46
And Switzerland is friggin expensive
maxsuur
2016-10-22 23:46
I would not live there because of the high cost of living
maxsuur
2016-10-22 23:46
Probably eastern europe or malta
maxsuur
2016-10-22 23:47
Or what the hech, I may head to Paraguay
maxsuur
2016-10-22 23:47
My mother tongue is Spanish
maxsuur
2016-10-22 23:47
*heck
arcaballero
2016-10-28 10:07
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josh
2016-10-29 04:38
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stoplight
2016-10-29 15:36
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etienne
2016-10-29 20:59
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artem
2016-10-31 12:21
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vbraut
2016-11-02 22:51
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josh
2016-11-03 09:59
If anyone is interested in Panama, it?s still only $7,300 plus $2,500 per dependent to get residency, and that includes the company and bank account setup. You might be able to find a cheaper law firm as well. You don?t need to live there full time which makes it much more appealing than others in the region.
agalt
2016-11-03 10:01
5,000 + 3,000 euros in the bank in georgia gets you residency with citizenship application in a year or less + shengen visa on arrival later next year with the passport.
josh
2016-11-03 10:04
Do they require giving up other citizenship or no?
josh
2016-11-03 10:05
You?ve talked me into coming @agalt but I really don?t want to do it in the dead of winter!
agalt
2016-11-03 10:06
you can keep your old citizenship and technically you need to give up your gerogian citizenship after you get another passport afterwards, but i wouldnt sweat it because they are not nosy enough to check. Ill go for bulgarian and Isralie after this.
agalt
2016-11-03 10:07
its not that cold. come join jedijames and I. the winters are mild in Tbilisi
agalt
2016-11-03 10:07
they don't extradite also in georgia
josh
2016-11-03 10:08
haha do you know something I don?t about me?
agalt
2016-11-03 10:08
i dont know anything about you. panama is too close to the us for my comfort.
josh
2016-11-03 10:10
I meant because you made a point of the non-extradition. :wink:
josh
2016-11-03 10:11
any place to go snowboarding? Northern part has a big mountain range yeah?
stoplight
2016-11-03 10:12
Oh keywords = no extradition ?hahah
stoplight
2016-11-03 10:13
@agalt ..how difficult is the process getting georgian residency? Can I just go there?stay for a week or two?leave then come back after a year and apply for citizenship?
maxsuur
2016-11-03 14:29
@agalt israeli pasaport? Wouldn't that get you enlisted into the military?
vincent
2016-11-03 15:17
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agalt
2016-11-03 16:04
Not if i am old enough and my health doesn't meet their or us standards for service
maxsuur
2016-11-03 16:12
That sounds fair enough
maxsuur
2016-11-03 16:13
How old are you? And please do not inflict on you any unnecessary pain :p
rjmarsden
2016-11-03 16:17
@agalt Georgian residency sounds a good option for us Brits to remain in the EU, as well as all the other tax and residency benefits you've mentioned. Is there an article or any other info you could share on the process?
rjmarsden
2016-11-03 16:17
thanks in advance :slightly_smiling_face:
simon
2016-11-03 16:29
@agalt It takes years of hard work, to qualify for Israeli citizenship. You have to be sponsored by an approved Jewish organisation in your home country. You have tests to pass, regarding your knowledge of Judaism. Even then you will only get a passport if you pass their security checks.
simon
2016-11-03 16:29
It's only easy if you are already a Jew.
simon
2016-11-03 16:31
@rjmarsden Georgia isn't an EU member. In any cases, your supreme court decided today to allow your MPs to have a vote on brexit. This could derail the exit process for a while.
rjmarsden
2016-11-03 16:35
Thanks @simon I'm glad you've got your finger on the pulse, I'm a bit behind :slightly_smiling_face:
agalt
2016-11-03 17:36
sounds like there are no shortcuts on this one then. Thanks @simon it sounds like the process is time intesive to look into
agalt
2016-11-03 17:37
@rjmarsden there is an article about Georgia that @simon published awhile back https://www.freedomsurfer.com/georgia/
agalt
2016-11-03 17:38
It is a fairly straightforward process and the lawyers fees are reasonable. If you need the name of a guy for it send me a pm and I will send you in the direction that others have gone who have been naturalized in the last year.
agalt
2016-11-03 17:44
the residency/ naturalization process should be respected so that it does not go the way of paraguay. I really like Georgia and have found a home here, so it is not something that should be taken lightly. I feel like I have a home here and genuinely like the people and the culture, so if you come please remember these people are wonderful and it is important to respect them.
jase
2016-11-03 17:45
I'm not sure who spruiks their new home country more, myself or @agalt :joy:
agalt
2016-11-03 17:48
your in love with Andora :slightly_smiling_face:
jase
2016-11-03 17:49
The hardest part is continually discovering all of these amazing places
jase
2016-11-03 17:49
I haven't even been to Montenegro yet
agalt
2016-11-03 17:51
@jase Montenegro is amazing as well. 9% corp income tax and a very high quality of life for your money. Its on the "go back here" list for me. Very popular among Russians and people from the Middle East.
agalt
2016-11-03 17:55
Yachts, and fine dining, and coast-side properties as well if you are into that. http://nekretnina.me/en/
jase
2016-11-03 17:56
I'm tempted to buy a place there to escape to in Winters
jase
2016-11-03 17:56
not as if it's 25 degrees and balmy in winter, but it's better than Andorra
agalt
2016-11-03 18:00
it was beautiful the short 24 hours when I was there. Budva, and Tiviat are supposed to be nicer than Podgorica
jase
2016-11-03 18:01
I'm told Kotor is the way to go
agalt
2016-11-03 18:03
not an expert on monte. it is a nice place though :slightly_smiling_face:
reese
2016-11-03 18:53
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2016-11-06 12:13
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2016-11-06 21:00
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clr
2016-11-07 18:44
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darwin
2016-11-08 22:53
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2016-11-10 03:14
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2016-11-13 00:23
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2016-11-14 07:19
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2016-11-15 16:13
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2016-11-17 10:51
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2016-11-19 15:24
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gary
2016-11-19 19:47
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tal
2016-11-23 16:07
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torsten
2016-12-01 16:30
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soebusiness
2016-12-08 10:43
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2016-12-13 17:33
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mescos
2016-12-17 15:15
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max
2016-12-19 05:27
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agalt
2016-12-19 13:59
we have a contact on the ground in montenegro who takes care of the whole process: residency, company, finding an apartment, finding a house, banking, etc
agalt
2016-12-19 14:00
Shes the expert. I like helping the people with the landing and making sure they are treated well by our contacts on the ground.
max
2016-12-20 08:16
Hello fellows, I just joined in. I have a contracting business in the UK which next year I am looking forward to operate from Estonia, additionally my partner and I are operating a couple of saas businesses in Europe. My next concern is residency and possibility of repatriating funds to a low tax state. I have been reading up and educating myself in this area and eventually short listed Panama, Georgia, Hong Kong, Malta and possibly Bulgaria...
max
2016-12-20 08:21
Hong Kong seems like an impossible place to receive a residency these days, or at least not an easy one due to bank opening difficulties and significant amounts of cash one needs to invest. Georgia turns out is not an option due to the requirement of spending 183 days ```Any individual living in Georgia for 183 days during a consecutive 12-month period is eligible to apply for tax residency. In most cases these applications are accepted.
Of course, you may not be able or interested in spending half a calendar year in Georgia. Fortunately, the government has created a special regime for those designated as ?high net-worth individuals.? ```
max
2016-12-20 08:26
Having reviewed all qualification requirements for other states I found Panama's Friendly Nation's visa program to be a welcoming invitation, yet while searching this slack board I could not find anything on that matter, or nothing positive (perhaps due to the search limitations).
max
2016-12-20 08:27
So my question is: what are you thoughts on Panama residency program? Has anyone participated and could shed some light?
maxsuur
2016-12-20 09:11
I think there is ways to be considered resident of Georgia for tax purposes and not having to remain for the whole year each year @alexanderhay and @agalt may know a thing or two
maxsuur
2016-12-20 09:12
Regarding the Panama Thing, it is interesting to see how little it's been talked about in this char
maxsuur
2016-12-20 09:12
Chat
maxsuur
2016-12-20 09:12
Possibly it is due to the Panama Papers... that has given some bad rap about it
josh
2016-12-20 09:28
I've mentioned it but it was before October so I think those are all archived. It's about $7500 all in for Panama including corporate registration and you don't need to spend a ton of time in the country.
josh
2016-12-20 09:28
It's an "old" jurisdiction so perhaps not as sexy but just as valid imo
maxsuur
2016-12-20 09:30
As far as I know you only need to set foot in there once every couple of years
max
2016-12-20 09:31
LOL, I wonder how the sexiness factor is derived :slightly_smiling_face:
max
2016-12-20 09:32
Seems right once every two years
maxsuur
2016-12-20 09:37
Colombia is near enough, there is enough sexiness within colombian women to consider it worthwhile :smirk:
josh
2016-12-20 09:45
Colombia or Costa Rica yeah. But Panama City has some talent in that dept.
josh
2016-12-20 09:45
I really like Panama I'm not sure why it's fallen out of favor.
josh
2016-12-20 09:46
Although I must say I was blown away when I was there a few months ago by the amount of hijabs on the boardwalk. :unamused:
maxsuur
2016-12-20 09:53
Interesting
maxsuur
2016-12-20 09:54
Panama's Friendly Middle East Nations Visa Program
jase
2016-12-20 10:52
@max my opinion on Panama. Possibly the cheapest, easiest, most relaxed territorial tax residency to get (though getting a bank account initially can be a pain). My wife and I were going to go down that track but decided against it as we couldn't live there. To live at a standard of living that we were happy with, cost of living was higher than anywhere else we'd ever lived (Canada, Australia, New Zealand), and it was still a pretty rough country - if you've ever been to Malaysia, there are a lot of geographical similarities - similar type of cleanliness too. @josh my quote was for $5000 all in (been referred to the lawyer too so I'm fairly confident in them).
If you're going to spend a few months a year there, you can chill out in Bocas del Toro and relax, but in order to prove I'd changed domicile to the Australian government, we had to spend at least 6 months of the year there, which we weren't willing to do.
josh
2016-12-20 10:53
But that was a requirement by Oz not by Pa right?
jase
2016-12-20 10:53
@josh correct
jase
2016-12-20 10:54
It really depends on where you are moving from as to whether or not you can become a "PT/digital nomad" immediately IMO
josh
2016-12-20 10:54
That's interesting
jase
2016-12-20 10:54
It's kind of what annoys me about so much of the DN tax "optimization" stuff I read online.
josh
2016-12-20 10:54
I didn't realize that.
max
2016-12-20 10:54
@jase thank you for sharing, that's very helpful!
jase
2016-12-20 10:55
If my wife and I got residency in Panama, spent 3 months a year there, then spent 9 months a year travelling, then returned to Australia 5 years later, Australia can slap us with a tax bill for that whole time.
josh
2016-12-20 10:55
Wow that's crazy!
jase
2016-12-20 10:55
Which I really believe a lot of DNs are going to have happen to them as governments go broke in future.
josh
2016-12-20 10:56
So it's not just the US - I wonder how many countries don't take it as far as the states but are similarly draconian
jase
2016-12-20 10:56
As I understand it, Canada is quite tough to leave
max
2016-12-20 10:56
I am not really expecting much from the country, and I was not planning on setting my foot there more often than once every two years. I just want to manage my retirement funds myself and if the country does not meddle with it that's all I need.
jase
2016-12-20 10:56
The main point for Australia is the permanent place of abode
josh
2016-12-20 10:57
How do you have to prove that?
jase
2016-12-20 10:57
I haven't verified this info, but it may be helpful Max: http://www.wealthadviser.co/2016/04/25/238823/art-becoming-non-resident-uk-tax-purposes
max
2016-12-20 10:57
@jase exactly in your situation Australian revenue treats you differently, for me the only requirement is not living in my country more 183 days a year.
jase
2016-12-20 10:58
Easy then!
max
2016-12-20 10:58
Thanks this article comes in handy!!
jase
2016-12-20 10:59
Also, my 2c. Don't believe anything you read online or that a tax lawyer tells you :joy:
max
2016-12-20 10:59
Haha
max
2016-12-20 11:02
true, maneuvering around taxes is confusing!
jase
2016-12-20 11:02
The thing is, it's really easy to dodge taxes
jase
2016-12-20 11:02
But to do everything legally is really hard
jase
2016-12-20 11:03
Even with the best of intentions I suspect most people are breaking laws
agalt
2016-12-20 14:12
@max @maxsuur georgia is more leinient with the residency requirements. Then again they simply don't care when it comes to many things here. It is more of a "don't be an idiot and we will call you one of us" type of places. Georgia provides a lot of benefits. For me it was a way to basicly starting over after leaving the us: drivers liscense (available), health insurance, good hospitals, good schools, peaceful, etc. We really don't have Muslims here either. Personally people are just people, but if you are looking to get away from them and the "social justice warriors" Georgia is a good spot. It is a Conservative place, and the tax authorities know that 80% of the economy is "grey" and "black"
agalt
2016-12-20 14:16
the banks here are not CRS complaint as well which is a benefit. Most people don't actually have a business that is legitimate. Paypal transactions are done through personal accounts via online businesses. It is easy to keep your head down and work from one of the many cafe's or a couple of co-working spaces. the dollar to local currency exchange is 1usd- 2.5 lari. @max send me a pm and we can talk in depth. Ill even show you Tbilisi on viber video or skype if you want sometime.
agalt
2016-12-20 14:30
@jase good points. It seems as though the rules are put in place so that people break them. It is very very difficult to follow them all.
agalt
2016-12-20 14:43
The new tax laws here will push many business transactions into the open since the tax laws will be looser here than estonia. http://georgiatoday.ge/news/3783/Amendments-to-Georgia%E2%80%99s-Tax-Code
djoneverett
2016-12-21 11:08
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etienne
2016-12-22 09:16
@jase About Canadian residency, I will be able to tell you more about it within the next months as I plan to renonce to my Canadian Residency? Canadian gouvernement tend to do the same as the US Gov, so it will become more and more difficult for the following years I guess.
maxsuur
2016-12-22 09:43
What nationality are you exchanging it for @etienne ?
etienne
2016-12-22 10:04
I am getting my HK residency @maxsuur
maxsuur
2016-12-22 10:07
And I guess you plan to get HK citizenship and so on, how long would that take all in all?
etienne
2016-12-22 10:18
I do not intend to get my HK citizenship I do not see the point so far, ma Canadian Citizenship is perfect so far. I just want to get rid of my Canadian Residency though. And for your question getting your HK residency if you are under 30 isn't that long. A big thanks to Simon for that :blush:!!
maxsuur
2016-12-22 10:24
I am sorry etienne, just misunderstood the residency for the citizenship. Great, so, what are the residency requirements for HK for someone under 30? I may be interested as well..
etienne
2016-12-22 10:25
No worries bro! The thing is to get a working holiday visa. Have to go brb later on ;)
maxsuur
2016-12-22 10:25
No problem, man. Talk later!
jase
2016-12-22 13:59
I wasted my working holiday years :disappointed:
jase
2016-12-22 14:00
Would be nice to have sorted my banking out worldwide
maxsuur
2016-12-22 14:21
Let's do the holiday visa program bankathon
maxsuur
2016-12-22 14:21
Opening 10 bank accounts in a summer season
maxsuur
2016-12-22 14:21
How much would that be worth?
jase
2016-12-22 14:21
whats the objective? sounds like a nightmare to me
maxsuur
2016-12-22 14:22
I am not sure either
maxsuur
2016-12-22 14:22
Having money all over the world I guess
jase
2016-12-22 14:23
in a true banking crash, it's probably not going to minimize that much risk
maxsuur
2016-12-22 14:23
I guess it opens possibilites for permanent residency
maxsuur
2016-12-22 14:23
And then buying property, land...
jase
2016-12-22 14:23
Yeah that's what I'm talking about. I want to minimize my cash on hand - it's devaluing
jase
2016-12-22 14:24
Problem is, what to invest in when borderline everything is in a bubble?
maxsuur
2016-12-22 14:24
But the thing I am most unsure of is when they grant you the holiday visa, I think they expect you to work and travel there
maxsuur
2016-12-22 14:24
What happens if you dont?
jase
2016-12-22 14:24
nothing
jase
2016-12-22 14:25
People flake out on their WHV's all the time
maxsuur
2016-12-22 14:25
You can invest in local businesses as well through some p2p lending site
maxsuur
2016-12-22 14:25
Did not know that
maxsuur
2016-12-22 14:25
And how easy is to get one?
jase
2016-12-22 14:25
I got a WHV for Canada, we decided not to use it
jase
2016-12-22 14:25
but then in the last month of it expiring we reconsidered and entered Canada on the last day
jase
2016-12-22 14:25
(which enabled it for 2 years)
jase
2016-12-22 14:25
They're almost a formality
jase
2016-12-22 14:26
Send them a passport photo, copy of your CV maybe, original police report, scan of your passport
jase
2016-12-22 14:26
pay your $x (usually not that much 100-300)
jase
2016-12-22 14:26
4 weeks later you get a visa pre-approval
maxsuur
2016-12-22 14:27
So you dont even have to go to the embassy in person
maxsuur
2016-12-22 14:27
Interesting
maxsuur
2016-12-22 14:28
I will ask Simon which will be the best holiday program in my case
harvie
2016-12-22 14:45
Gold is not a bad choice for the long-term given stocks are at an all high. I use Bullion Vault.
maxsuur
2016-12-22 14:52
Gold, precious metals, strategic metals: palladium, etc..
etienne
2016-12-23 09:30
@maxsuur To answer of of your previous question (u asked it in the random channel I recon) I used this same strategy in 2014 when I spent a whole year in NZ. I still have my personal bank account with Westpac. what is nice with this way, as you understood, is that it is very easy to open a bank account. You may then request a credit card, use it from time to time and get a nice credit quote? So basically I am just doing the same thing that Ive done in NZ 3-years ago. It is slightly more difficult with HK but still way easier than most people over 30 :stuck_out_tongue:
etienne
2016-12-23 09:36
for those under 35, interested in Australia:
https://www.acacia-au.com/changes-to-benefit-working-holiday-makers.php
maxsuur
2016-12-23 09:38
Thanks @etienne
maxsuur
2016-12-25 20:29
Does anyone know the minimum stay requirement each year for EU nationals to maintain tax residency in Bulgaria?
agalt
2016-12-25 22:11
Let me ask someone tomorrow. Ill be in sofia until the 4th.
petr.novak
2016-12-27 09:29
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remy
2016-12-27 10:31
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alex
2016-12-27 23:54
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alex
2016-12-28 06:19
@maxsuur 183 days in each twelve month period.
https://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/tax-residency/Bulgaria%20-%20Information%20on%20residency.pdf
agalt
2016-12-28 09:43
YUCK! glad Georgia does not require that when it comes down to specifics.
maxsuur
2016-12-28 09:59
Thanks @alex
ahawkins
2016-12-28 10:36
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philippe
2016-12-28 14:28
has joined #residency
philippe
2016-12-28 15:43
@philippe uploaded a file: https://freedomsurfer.slack.com/files/philippe/F3KEHF3U4/pasted_image_at_2016_12_28_04_43_pm.png
philippe
2016-12-28 16:45
>In Asia, Malaysia and Thailand are both easy and decent countries to live in.
philippe
2016-12-28 16:45
What kind of taxation avoidance can be achieved with thailand ?
simon
2016-12-28 17:36
Thailand has a taxation system that works in a similar way to that of Malta. Non-remitted income is not subject to local taxation. Income remitted in the next tax year is not subject to taxation either.
simon
2016-12-28 17:36
It's a territorial form of taxation with caveats
sherice
2016-12-29 04:18
has joined #residency
max
2016-12-29 08:26
@agalt thank you for sharing, appreciate that, I will send you a PM. It does seem like there is quite a lot of benefits and good things about being a resident in Georgia, but still I am somehow concerned about the mentioned leniency of the authorities and would appreciate a clear situation. Especially in the light of other states not easily letting their tax residents go. Also not sure about the business setup there. it also seems to me that an Estonian company would appear to be a more legit partner when conducting business in EU or States than Georgian. Curious what your opinion on this aspect is?
agalt
2016-12-29 10:28
There is an official exemption to residency requirements if you earn over a certain amount currency. Honestly with a lot of thus stuff you simply have to hop on a plane and talk to people face to face. Fly to Georgia and sit down with a lawyer. Flights from sofia Bulgaria are less that 40 euros round trip with wizz air. Pack light and dont pay baggage fees.
jase
2016-12-29 11:37
SO EXCITED about Australia changing their Working Holiday Visa laws to 35. My hope is that other countries will change their rules (HK, etc) to 35 for Australians in reciprocation to unlock more banking doors :slightly_smiling_face:
agalt
2016-12-29 11:52
@max send me a message and we can talk
agalt
2016-12-29 11:57
here is the text about the exemption for "high net worth individuals" http://georgiatoday.ge/news/2143/Dechert-OnPoint%3A-Georgian-Tax-Residency
agalt
2016-12-29 11:59
@max @maxsuur "Georgian Tax Residency for High Net Worth Individuals
Georgian residency is, in most cases, granted to individuals who are present in Georgia for 183 or more days during any consecutive twelve-month period. However, some individuals are not interested in spending this amount of time in Georgia but still have an interest in acquiring Georgian tax residency. To accommodate such persons, Georgian policymakers introduced a special regime for the granting of Georgian tax residency to high net worth individuals (the ?Special Residency Regime?).
For Georgian tax residency purposes, the individual is deemed to be a high net worth individual if: (i) the value of his or her confirmed property exceeds GEL3,000,000 (three million Georgian Laris), or (ii) his or her annual income has exceeded GEL200,000 (two hundred thousand Georgian Laris) during the last three years (the ?High Net Worth Individuals?).
In order to receive Georgian tax residency status under the Special Residency Regime, the High Net Worth Individual must also satisfy certain additional requirements. In particular, under the Special Residency Regime, Georgian tax residency status is granted to a High Net Worth Individual only if: (i) he or she has either a Georgian residency permit or Georgian nationality; or (ii) he or she verifies receiving more than GEL25,000 (twenty-five thousand Georgian Laris) of Georgian source income during a single year. A High Net Worth Individual may request Georgian tax residency on the basis of any of these two grounds. Which of these grounds is preferable for any given individual depends on personal circumstances. For instance, if the High Net Worth Individual has neither Georgian nationality, nor a Georgian residence permit, then he or she may claim Georgian tax residency on the grounds set out under item ?ii?. If that option is not suitable for a specific individual (e.g. the individual does not have required the GEL25,000 Georgian-source income), then he or she may resort to the option set out under item ?i?.
"
alexanderhay
2016-12-29 17:15
This particular package strikes me as the least helpful the Georgians have come up with. I have to give them credit for trying. They have so many different visa options that it gets confusing, but it does show a sincere and honest motivation to bring people into the country to improve things. I took advantage of another procedure. I think the best one now is the Investment Visa option. It requires a small investment, almost nothing else (no proof of income or assets), the visa is indefinite requiring no renewal, and it applies to the whole family. For the family looking to immigrate to Georgia, and possibly get a citizenship in a short amount of time, this seems to me to be the best option. Of course there are others, but if it had been available when I did it I probably would have used that program.
philippe
2016-12-29 18:00
@philippe shared a file: https://freedomsurfer.slack.com/files/philippe/F3KEHF3U4/pasted_image_at_2016_12_28_04_43_pm.png
2016-12-29 18:00
@philippe commented on @philippe?s file https://freedomsurfer.slack.com/files/U3KE44B37/F3KEHF3U4/pasted_image_at_2016_12_28_04_43_pm.png: Is anyone up to date with CFC in Chile?
americanomad
2016-12-31 00:08
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petrsuska
2017-01-02 12:29
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dawn
2017-01-02 21:59
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tkrunning
2017-01-05 20:51
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ace01
2017-01-07 01:15
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princevaliant
2017-01-08 21:40
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ahawkins
2017-01-09 04:05
I read Read http://www.freedomsurfer.com/chile/. Is it just me or is Chile just amazing for remote workers? 5 years to citizenship is not bad either (it's not argentina though!)
jase
2017-01-09 09:58
I know a guy that got funding through Startup Chile too - really good experience he claims
maxsuur
2017-01-09 10:46
Chile is the most advanced country in Latin America
maxsuur
2017-01-09 10:46
They look more like Europeans than its south american counterparts
maxsuur
2017-01-09 10:46
*their
saskia
2017-01-09 11:41
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philippe
2017-01-09 15:21
I?m planning to stay 6 month later this year in Chile and ask for residency
skat
2017-01-10 13:24
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jjlm
2017-01-12 22:36
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danz
2017-01-13 04:23
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yuli
2017-01-16 06:35
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jd
2017-01-17 05:55
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alistair
2017-01-18 17:23
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arkdeeplove
2017-01-21 17:55
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hhenrikson
2017-01-23 09:29
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el_roberto
2017-01-23 13:11
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el_roberto
2017-01-23 14:17
Hi all, I currently am a tax resident in New Zealand, however in about 6 months I can become non-resident if I can find a new country - is Georgia a good choice? from my understanding I could gain tax residency via the high net worth (income over 200k Lari last year) route, get a cheap apartment and both NZ and Georgia will consider me a tax resident in Georgia. Then I can work outside of Georgia and my income will be exempt due to being "foreign sourced" FYI my income is from remote contracting to an NZ company
agalt
2017-01-23 14:18
Sure. Georgia is a great choice. @alexanderhay and I both live here and help people with georgia related stuff. send us a pm and we are happy to help
danz
2017-01-23 14:56
Can residency in Georgia means your exempt from paying taxes if your income comes from other countries?
agalt
2017-01-23 14:56
yes!
agalt
2017-01-23 14:57
for instance a US LLC owned by an offshore trust...
danz
2017-01-23 15:01
Thanks
agalt
2017-01-23 15:02
come join @el_roberto @alexanderhay and others here
danz
2017-01-23 15:03
Might come to Georgia for a short trip in march/april, to check out the city first
agalt
2017-01-23 15:03
we have a short seminar in april in georgia. short and reasonably priced weekend event
danz
2017-01-23 15:07
What is about exactly
agalt
2017-01-23 15:07
in order to not self promote ill send you a pm to respect simons chanels
danz
2017-01-23 15:09
Sure
foreverlearning
2017-01-23 18:33
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tatelev
2017-01-25 15:27
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save
2017-01-27 08:35
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726dbr
2017-01-28 07:05
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wojtek
2017-01-28 15:58
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maxsuur
2017-02-01 15:40
Hi guys, has any of you got tax residency in Mexico? I've heard somewhere that in some cases, this country could serve as a territorial taxation one if set up properly
agalt
2017-02-01 15:41
interesting
maxsuur
2017-02-01 15:43
I lived there for a while and I intend to get at least a residency for myself somewhere in the future despite its 6-month-tourist-visa that you can renew indefinitely
maxsuur
2017-02-01 15:44
Which is just awesome. People hop in a bus to Belize or the US for a few hours and then re-enter mexico for another 6 months
maxsuur
2017-02-01 15:45
Lots of argentinians working as waiters in Canc�n on their tourist visas though
agalt
2017-02-01 15:48
hmm
maxsuur
2017-02-01 15:52
@alexanderhay: probably is more knowledgeable on the topic of mexican tax residency
agalt
2017-02-02 20:55
@alexanderhay lived in mexico, so this may be an area where he can help.
maxsuur
2017-02-02 21:31
Could you ask him about it?
agalt
2017-02-02 21:32
yes. he is Tejas time zone now, so it may come a little later
maxsuur
2017-02-02 21:41
Ok thanks man
jb
2017-02-03 14:05
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alexanderhay
2017-02-06 16:17
You can get a "retirement" visa if you can make modest investment in Mexico. Many advantages.
maxsuur
2017-02-06 17:15
What kind of modest?
jb
2017-02-07 07:07
I am looking for countries that wont tax foreign employment income (or have tax breaks or similar that make them attractive), I am now thinking of forming an Estonian company and becoming resident somewhere that I won't be taxed on the employment income from the Estonian company - obviously can't be a tax haven as otherwise withholding tax will be charged in Estonia. For example I think Uruguay applies and it has a 5 yr tax exemption, does anyone know any other good places?
maxsuur
2017-02-07 08:08
Well: Paraguay, Panama, Costa Rica, Malta, Hong Kong, UAE... are some of the options available as far as I am concerned
jb
2017-02-07 08:23
Thanks, will look into those. Looks like Uruguay isn't very useful when combined with an Estonian company as the employment income would still be taxed if I was in Uruguay.
maxsuur
2017-02-07 09:12
Chile is yet another option
gbennett
2017-02-08 02:38
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mescos
2017-02-09 16:46
@maxsuur - Doesn't Chile tax Chilean residents on worldwide income?
maxsuur
2017-02-09 17:15
There is a 5-year exemption for foreign residents, as far as I know. You can check it out on Simon's course.
replay
2017-02-09 22:15
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mysteir
2017-02-10 04:48
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nemo
2017-02-10 13:07
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mescos
2017-02-10 16:14
@maxsuur - link? Not seeing it. Also what do you mean by "foreign resident"? Are you suggesting that permanent residents of Chile do not need to pay income tax for 5 years in Chile on worldwide income?
maxsuur
2017-02-10 16:40
Just check out Simon's Course. I can remember exactly, but it was very well explained there. I mean, foreign citizens who get tax residency in Chile.
mescos
2017-02-10 20:20
@simon - Do you have the link to the source on this? "Chile has a nice program that allows new residents to pay taxes only on locally sourced income for the first three years. In effect, this allows a nomad to move there and live tax-free for that period provided that a proper structure is in place. If some conditions are met, the three year amnesty can be extended allowing one to reach the point of eligibility for citizenship without having had to pay any taxes."
mescos
2017-02-10 20:24
(Also just to confirm, which type of "new resident" are you referring to - temporary or permanent? There are like 10-12 different types...)
philippe
2017-02-13 09:21
> There are some ways around this (domicile-based tax residency + constant travel for example) but they are not practical for most people. A certain number of days usually have to be spent in the country of tax residency every year in order to maintain the status.
COuld @simon confirm Chile is a good solution here ?
mescos
2017-02-13 15:57
Chile residency is obtainable/accessible as long as you can spend the required amount of time there to get it. After permanent residency is obtained, you only have to go back for 1 day per year or get an "exception" from Chilean embassy overseas to maintain it. If Chile is the "right" residency for you, that depends on your goals.
The bigger question is: Chile taxes permanent residents on worldwide income. So, with this in mind: 1) what is the source to amnesty quote above?, 2) how realistically obtainable is amnesty and what specific conditions need to be met?, 3) does this amnesty, if obtained, apply to the Chilean permanent resident's worldwide income or only local income? @simon
simon
2017-02-15 07:20
@mescos @philippe Sorry for the delay, I was on a road trip for the last few days. Here's more details on the exemption (from KPMG): https://home.kpmg.com/xx/en/home/insights/2015/11/chile-income-tax.html
simon
2017-02-15 07:20
See the section named "Expatriate concessions"
simon
2017-02-15 07:20
Quote "Foreigners with residence or domicile in Chile will pay taxes only on their Chilean source income during the first three years since their arrival to Chile. "
simon
2017-02-15 07:22
It doesn't matter which type of residency permit you have, your first three years in Chile are tax-free (foreign-sourced income) and while KPMG says the three additional year exemption is unusual, it is fairly easy to get approved for it if you have circumstances like ours (remote work, no Chilean income).
maxsuur
2017-02-15 10:26
Thoughts on Colombian residency?
jamief
2017-02-17 09:52
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replay
2017-02-21 17:51
Hi :slightly_smiling_face: I'm currently in Paraguay and planning to get the residency here. So I'm talking to some immigration lawyers (additionally to Robert Schulze who's mentioned on https://www.freedomsurfer.com/paraguay/) because I want to compare the different offers
replay
2017-02-21 17:51
the offer from FINESTRA Law Company seems good, does anybody have experience with them?
replay
2017-02-21 17:52
or did somebody use another agent to get paraguayan residency?
maxsuur
2017-02-21 18:24
Following. I am very interested in the paraguaian residency. Keep us posted.
replay
2017-02-21 18:30
@maxsuur will do so
maxsuur
2017-02-21 19:12
Thanks @replay
tkrunning
2017-02-21 22:44
If anyone has experience with the Maltese ordinary residency permit process for EU/EEA citizens, please let me know. Considering telling Denmark that I?m no longer living there (which TBH I haven?t in a few years) and set up another EU residency, and Malta is on the top of my list.
Actually, Denmark don?t require me to prove any other residency when I leave, and I?m not from a country with ?domicile? as part of their tax code, so technically I could just be without a *full* tax residency anywhere? Of course, I would technically have limited tax obligations to any country where I do work, but that probably wouldn?t be an issue in practice. But would rather have some residency than none, especially if it?s easy to maintain and comes with few tax obligations.
stoplight
2017-02-22 04:06
@replay ..we have a local partner in Paraguay who has been quite successful at helping expats get residency?let me know if you need her contact information..she?s a certified government translator?that?s really all you need?you don?t really need the services of a lawyer unless you really want to.
replay
2017-02-22 11:49
@stoplight oh, that sounds great. yeah i'd be glad if you could give me her contact details. thanks!
maxsuur
2017-02-22 14:30
I am interested too @stoplight .PM please her contact info. Thanks!
ivopalazzi
2017-03-01 17:53
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p32kz
2017-03-04 02:49
p32kz. hi @stoplight. Hi, I am also interested in the contact info of your translator partner in Paraguay. Thanks.
stoplight
2017-03-04 06:47
@p32kz sure! please send me a private message..
danz
2017-03-06 14:15
Anyone here got residency in Paraguay and could tell me how long the process approximately takes?
agalt
2017-03-06 14:40
why paraguay?
danz
2017-03-06 14:42
As I read some articles I believe it?s one of the best options to receive residency. The process seems to be faster then most countries, less requirements and not that much money either, and foreign sourced income can be tax-exempt, as Paraguay is territorial taxation country.
agalt
2017-03-06 14:42
does the process take more than 2 weeks?
simon
2017-03-06 14:44
@agalt can complete the process in a week if you know what you are doing. Very cheap too, if you apply on your own you can get everything done under a grand. Excluding travel costs obviously.
agalt
2017-03-06 14:46
that is very interesting.
danz
2017-03-06 14:57
Exactly
danz
2017-03-06 14:58
Within a week, wow
danz
2017-03-06 14:58
@simon. Would you recommend applying yourself or hiring an agency?
simon
2017-03-06 15:00
@danz I'd recommend applying by yourself. If you do not speak Spanish, you can hire a local translator for a couple of days to help you (very cheap).
danz
2017-03-06 15:02
Thanks, good to know
maxsuur
2017-03-06 15:08
@stoplight has a local contact in case you needed assistance with that @danz Talked with her, and she's very well versed on the matter. She is a certified translator also.
danz
2017-03-06 15:15
Thanks, could definitely use.
alexanderhay
2017-03-06 15:22
I have been in Paraguay and it was one of the worst places I have ever visited on Planet Earth. I would go with Georgia. Sounds about the same price, and time frame. IMHO.
agalt
2017-03-06 15:23
shengen visa on arrivial with Georgian passports does not hurt either
danz
2017-03-06 15:23
The problem with Georgia is, that you have to stay there 183 days in the first year I believe
danz
2017-03-06 16:05
Nevermind, that isn?t needed. I read it wrong. Might actually seem more interesting.
agalt
2017-03-06 16:10
Send me a pm. Im happy to listen to see if i can help.
yu138086
2017-03-07 15:21
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mrblonde
2017-03-08 17:25
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globalconsulteurope
2017-03-09 12:50
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jerobo
2017-03-12 17:19
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highflier
2017-03-12 20:00
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ahawkins
2017-03-14 13:23
Does anyone know if the residency option described for Chile applies to spouses? https://www.freedomsurfer.com/chile/. Would both my wife and I need to apply for temporary residency?
simon
2017-03-14 13:45
@ahawkins Yes, both of you would need to apply. One as the main applicant, the other as the dependant.
ahawkins
2017-03-14 14:17
@simon so in theory my income would cover both of us (via dependents)
simon
2017-03-14 15:21
@ahawkins Yes
johannago
2017-03-14 16:28
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crimsonpost
2017-03-15 11:28
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pedrodemendez
2017-03-16 13:38
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netroxx
2017-03-17 15:35
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pedrodemendez
2017-03-18 04:57
anybody here used the SRRV program in the Phillipines?
pedrodemendez
2017-03-18 04:57
I am wondering what my tax status will become if/when going for this program
pedrodemendez
2017-03-18 04:58
Am finding: "Resident Alien (RA) means an individual whose residence is within the Philippines and who is not a citizen thereof.
Note: taxable only on income derived from sources within the Philippines" but not sure if it applies..
pedrodemendez
2017-03-18 04:59
i am currently resident and citizen of a country without capital gains tax, and prefer not to end up in a situation where I will be taxed on capital gains made outside of the PH..
stoplight
2017-03-18 05:07
@pedrodemendez ?you will be tax resident if you have a PH business?otherwise..you can live ?tax-free? if you?re income is derived from abroad?if you haven?t visited already...here?s the website of the Philippine Retirement Authority which handles the SRRV? http://www.pra.gov.ph/
pedrodemendez
2017-03-18 05:08
And living on SSRV or just regular tourist visa makes no difference in that?
pedrodemendez
2017-03-18 05:09
thanks for the link
stoplight
2017-03-18 05:13
regular tourist visa is different?you?ll be treated like a tourist?the SRRV allows you to stay longer than a tourist visa?the PRA also provides some other privileges such as help in getting drivers license?government clearances, even tax exemption..
stoplight
2017-03-18 05:14
additionally, if you live outside of the major cities ?under the radar??nomad style?.you could essentially get unnoticed at all?live a lot less too..
stoplight
2017-03-18 05:30
If you happen to be in Manila, do let me know..
pedrodemendez
2017-03-18 06:13
I will thanks. Now in Cambodia, and next back home, sell my home and get rid of stuff before I go back to Asia. Probably Q4. Thx for the advise
ahawkins
2017-03-19 07:02
Do I have any options for Argentinian residency besides employment?
ahawkins
2017-03-19 07:04
My GF and I were planning on going to Chile because it's easy to enter as remote worker with path to residency. I'm not sure if there is a similar option for Argentina.
ahawkins
2017-03-19 07:04
We're considering Argentina because it's the fastest way for my GF to ditch her Indian passport.
ahawkins
2017-03-19 07:15
The ideal scenario for us is that we marry to quality for dependent status, then find a country that offers residency as long as you can prove funds coming from outside the country (e.g. an off shore business or remote work contract) and reside there to earn citizenship
ahawkins
2017-03-19 07:17
I a US citizen should able to gain permanent residence where my GF achieves citizenship through dependent relationship status as well.
simon
2017-03-19 08:46
@ahawkins there are plenty of ways to qualify for residency in Argentina. The government lists them all on their site: (in Spanish)
http://www.migraciones.gov.ar/accesible/indexP.php?nomercosur_temporaria
netroxx
2017-03-19 20:59
just make sure to protect your assets before you get legally married :wink:
roman
2017-03-20 10:05
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ahawkins
2017-03-20 10:17
@simon Thanks. I read through that but could not find a straight forward case in my situation. I plan to contact some immigration lawyers if they know a route for freelancers.
ahawkins
2017-03-20 10:18
That could be a could article for freedomsurfer. Residency options for freelancers
ahawkins
2017-03-20 10:23
I know the following countries offer some sort of self-employed, entrepreneur, or remote workers visas for US citizens: Chile, France, Netherlands (via the US/NL friendship visa), and Germany. Anyone know any more options?
maxsuur
2017-03-20 10:28
I think Spain does too
ahawkins
2017-03-20 11:03
oh right, i forgot spain!
ahawkins
2017-03-20 11:03
I know the have that entrepreneur visa
ahawkins
2017-03-20 15:07
news from an Argentine laywer:
ahawkins
2017-03-20 15:08
```
ahawkins
2017-03-20 15:08
```
Dear Sir,
if an Argentine company hires your as employee, you and your wife - if married - get the same kind of residency. This means, as your wife, she can work as you will do.
If you are not married, this cannot be completed.
If you are freelance/self employed, the only way would be:
1. Register a DBA in the United States in your name,
2. Get a certificate issued by an accountant stating that the DBA "XXX" is in your name and it generates for you monthly dividends that surpass the amount of $3,000 US Dollars
3. If you are married, both of you apply with just one qualifying.
Applying through this second option lets you both come, become legal residents for 1 year as well, and work as self employed in Argentina if you want, or work for a company, or just continue doing your job abroad.
Best wishes
```
ahawkins
2017-03-20 15:22
seems straight forward enough
maxsuur
2017-03-20 16:13
Definitely
mi
2017-03-20 23:41
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ahawkins
2017-03-22 03:19
only thing was this person was a bit wishy-washy on if those options eventually lead to citizenship. I need to figure out how one acquires permanent residency.
philippe
2017-03-22 07:23
To apply to Chile residency, is it better to come on visa exemption and work from here or to pre-apply ?
ahawkins
2017-03-22 08:05
good question, I'd like to know the answer to that one as well :slightly_smiling_face:
ahawkins
2017-03-22 09:14
also considering the Netherlands because DAFT; and Spain because of the entrepreneur program
philippe
2017-03-22 09:52
I think you can do the paperwork during the 90 day exemption but then do you have to get out then back in to activate the long term visa ?
philippe
2017-03-22 09:52
(like in HK for exemple)
simon
2017-03-22 10:10
Definitely apply in Chile. I've been told by a local lawyer that the application process is simpler on the ground and there is no need to leave the country to activate the visa.
ahawkins
2017-03-22 10:13
is that for the temporary work visa mentioned on the country page?
simon
2017-03-22 10:14
@ahawkins Yes. Norway also has a residency program for freelancers. It's pretty expensive there though and you'll be taxed to the moon and back.
ahawkins
2017-03-22 10:15
could be worth it if you want to settle there
ahawkins
2017-03-22 10:15
Norway is amazing
ahawkins
2017-03-22 10:16
@simon do you have a link with some info on that?
simon
2017-03-22 10:24
If you click on "how to apply", they will give you the requirements for your nationality
simon
2017-03-22 10:25
You can't apply in Norway though, only in your home country or in a country where you have lived for at least 6 months
andrew.m
2017-03-22 11:36
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ahawkins
2017-03-22 12:10
Sweden has a similar offering as well: https://www.migrationsverket.se/English/Private-individuals/Working-in-Sweden/Self-employment.html
ahawkins
2017-03-22 12:17
Do we have anyone specializing in Chile with us? Perhaps with local contacts :slightly_smiling_face:
globalconsulteurope
2017-03-22 12:17
Residence options for self-employed EU citizens in Bulgaria: http://migration.mvr.bg/NR/rdonlyres/6FE4E717-F0F7-4446-8A7B-F19DA29B14EF/0/Leaflet1.pdf
http://migration.mvr.bg/NR/rdonlyres/FECCB06E-F49B-465C-82D1-5CF416BA401A/0/Leaflet2.pdf
globalconsulteurope
2017-03-22 12:18
@ahawkins I did not understand whether you have EU citizenship or only US one
ahawkins
2017-03-22 12:18
@globalconsulteurope I have US and my girlfriend has Indian
ahawkins
2017-03-22 13:31
so far two chilean immigration service companies have disputed the information on the Chile country page.
ahawkins
2017-03-22 13:32
They are telling me that remote income must come from investments and not from a company (or a remote work contract)
simon
2017-03-22 15:30
@ahawkins It is in the way you get paid (can't be a salary). It used to be that any remote income worked but things changed recently and now you must prove that the income is guaranteed. This can easily be done with a trust, holding company etc.
simon
2017-03-22 15:35
@ahawkins I know a local lawyer in Chile who can help, his name is Cristian and you can email him at
ahawkins
2017-03-22 15:39
@simon zomg, thanks!
ahawkins
2017-03-23 13:12
:checkered_flag: just completed my application for estonia e-residency
globalconsulteurope
2017-03-23 13:38
Congrats, mate!
ahawkins
2017-03-23 14:23
who knows what will happen next :smile:
maxsuur
2017-03-23 14:59
Welcome to the e-club @ahawkins
ahawkins
2017-03-23 15:43
I hope I get accepted and can claim it before I leave India
maxsuur
2017-03-23 15:55
Very likely :)
ahawkins
2017-03-23 16:01
I think I had applied before when it _first_ came out but I don't remember what happend
maxsuur
2017-03-23 16:35
Time happened :p
ahawkins
2017-03-24 04:34
that's one open thread. Currently 3 open: Estonia E-residency; Chile residency investigation; Argentina residency investigation
agalt
2017-03-24 20:10
@alexanderhay sets up trusts, holding companies, and other types of structures you may need @ahawkins . He is a lawyer and not some guy with good marketing and a radio show.
ahawkins
2017-03-25 04:54
@agalt thanks!
ahawkins
2017-03-30 02:59
> Estonian Police and Border Guard Board has granted e-Residency
tkrunning
2017-03-30 06:50
Hey guys! Do you think it?s feasible to spend a week in Malta and do the necessary paperwork to register as a resident (apply for e-resident card?not to be confused with the Estonian e-residency card) in that time frame? I?m a EEA citizen and will probably register as self-sufficient. CC @netroxx @ivopalazzi
tkrunning
2017-03-30 06:50
Or do the Maltese authorities need to see proof that I?ve stayed there for close to 90 days already, before I can register?
tkrunning
2017-03-30 06:52
To be clear, I?m not expecting the ID card to get ready in that time, but would return to pick it up once it?s ready.
ivopalazzi
2017-03-30 07:06
No, they are very easy going with european citizens. But you need a rental agreement (it will take you minimum a week to come up with this), local medical insurance, & bank statement, and then apply, the whole process might take you 2 weeks. You don�t need to have stayed 90 days before you can register. I recommend you a great company that will do all this for you: Boston Multi Family Office (tell them Roberto recommends you). Regards
tkrunning
2017-03-30 07:08
Can the bank statement be just a printout or does it have to be signed by the bank as well?
tkrunning
2017-03-30 07:11
@ivopalazzi do you know if BMFO could provide a fake rental agreement? I might rent something later this year, but ideally not yet.
ivopalazzi
2017-03-30 07:23
I dont recommend you go for a fake rental agreement, and this comes from a stingy motherfucker. Sooner or later they will know if you have rented a place out or not(criteria for wich they grant you residence, and might revoke it as well). You can get an "address" but it will cost you 300-400 euros per month
ivopalazzi
2017-03-30 07:24
I recommend that its signed and stamped by your bank. Min balance for singles ?14.000
tkrunning
2017-03-30 08:18
Do you know if it needs to be cash sitting in a bank account, or can it be ETFs and stocks in a brokerage account, too?
philippe
2017-03-30 08:34
whaaaat
philippe
2017-03-30 08:36
but then you can?t be tax free with an estonia company :open_mouth:
philippe
2017-03-30 08:46
To be granted residency or to not pay income tax ?
philippe
2017-03-30 08:56
> It is VERY IMPORTANT you get your documents certified in good time before you leave the country as you often need to be present in person at the notary lawyer. Do NOT do what I did and leave only one week before your flight to legalize everything, or you will be running around like your ass is on fire trying to sort everything out.
philippe
2017-03-30 08:56
Oh, I?m in trouble
philippe
2017-03-30 09:02
And what about getting a job offer in Chile ?
aka
2017-03-30 16:31
has joined #residency
stoplight
2017-03-31 00:44
I guess its a general rule in getting residencies to have ample time plus a week more specially if you intend to do most of the work yourself. :slightly_smiling_face:
tkrunning
2017-03-31 10:17
Yeah, I agree in general, but this should just be a simple ?registration? since it?s intra EU (if you were referring to me, not philippe)
ahawkins
2017-03-31 14:38
Well I haven't been able to get clarification on that yet. That's a valid point though. I'll put that on my list. I'm still waiting on follow ups from a few lawyers.
philippe
2017-04-01 03:45
:open_mouth: I?m arriving in Chile in ?1 month, I hope we?ll find a way?
ahawkins
2017-04-01 04:08
```
Dear Adam
Thank for your email.
Yes in deed we will be able to apply and obtain temporary visas for both of you.
As an entrepreneurs or consultants we will be able to get visa m, consultancy contracts will be needed or a proof of in income as an alternative evidence.
It is important to remark that the visa can be granted for 1 year, 10 month or 8 month this is discretionally decision to be made by immigration office, however we do make our better efforts to get the first visa for one year. After you Ate granted with a visa for one year you need to wait 1 year to get definitive residence it means apply for that and after 5 years counted since the first visa you need to be 5 years as a resident to be entitle to apply for passport.
Let me know when you would like to star with this idea in order to agree on the terms.
Best regards
Cristian Laborda
Director
Laborda Abogados
```
ahawkins
2017-04-01 04:08
From a lawyer in Chile that Simon recommended
philippe
2017-04-01 09:28
gracias !
philippe
2017-04-01 09:28
comments from @simon ?
simon
2017-04-01 09:30
@tkrunning as @ivopalazzi said, better get a real rental agreement. I have heard stories of people using fake agreements having their residency revoked after the government got suspicious of hundreds of them living at the same address.
simon
2017-04-01 09:30
@philippe In many cases, your documents need to be recent too. Usually 90 days of less.
philippe
2017-04-01 09:31
So do I really need to go back to my home country to notarize birth certificates and grades?
simon
2017-04-01 09:50
You should be able to get them certified at a French embassy but then migracion may or may not accept them.
philippe
2017-04-01 10:32
mm
philippe
2017-04-01 10:32
we?ll see then?
philippe
2017-04-01 10:33
Or someone may do it for me in France ? (since the documents are there anyway)
tkrunning
2017-04-01 17:12
@simon yeah I get that. Ideally what I would do is to convince an Airbnb host to rent me a room for cheap and let them Airbnb it the 11 months of the year when I'm not in the country. I've also seen rooms for rent in Malta for around 200 EUR per month if you don't care too much about location, so there's really no reason to not get a proper rental agreement.
ma-x-us
2017-04-02 02:44
has joined #residency
mysteir
2017-04-03 15:34
Hey everyone, just got my Panama residency. It took 1 week, and all went very smoothly. If anyone is curious about the process and wants info, ask away.
josh
2017-04-03 15:35
Wow @mysteir only a week? Congrats on that - who did you go through?
mysteir
2017-04-03 15:44
@josh I used Quijano and Associates. I was worried as they were sometimes unclear in their email communications- but they were on the ball over there. It isn't their first rodeo, and they know exactly what they're doing.
josh
2017-04-03 17:12
Good to hear - I talked to them when I was there a few months ago but I thought it was a longer process.
aka
2017-04-03 17:24
how long have you been in the country @mysteir ?
aka
2017-04-03 17:24
or you did this remotely?
mysteir
2017-04-03 17:26
Sorry I should have clarified.. it took quite a few weeks to gather the required documentation before going to Panama (security certificate, banking ref letter, etc..). Once all that was approved by the firm, the process in Panama was easy peasy (1 week, a few quick appointments).
mysteir
2017-04-03 17:27
I gathered all info remotely while in Thailand and flew over for 1 week once everything was in order
aka
2017-04-03 17:29
and did you use that to open a resident company from abroad?
mysteir
2017-04-03 17:29
I plan on spending more time in country and getting a better feel for it once I return to get my permanent ID card in 6-8 months. My quick impression of Panama City was super friendly people / accommodating locals but corrupt cops (was shaken down)
mysteir
2017-04-03 17:30
yes @aka the firm I dealt with opened a Panamanian company as part of my application process
aka
2017-04-03 17:30
Yeah, I can imagine, how is your spanish?
mysteir
2017-04-03 17:32
its basic, enough to put across basic thoughts - I see Panama as an opportunity to improve it. In Thailand I can operate 100% in english easily - Panama felt like you'd need Spanish to operate
aka
2017-04-03 17:33
i mean that usually helps to talk with the cops
mysteir
2017-04-03 17:34
for sure.. in the end they saw they wouldnt get much from me and returned my ID when I bought them 2 juices at the corner store
mysteir
2017-04-03 17:34
got harassed for 30 minutes before they finally asked for 2 juices
aka
2017-04-03 17:34
thats a lovely way of bribing them
mysteir
2017-04-03 17:35
they were edgy and total assholes, unlike the friendly corrupt cops in Thailand :slightly_smiling_face:
aka
2017-04-03 17:35
yeah i know the feeling
mysteir
2017-04-03 17:35
it shook me up a little because up to that point the locals had been superb.. and Panama City is very safe
josh
2017-04-03 18:11
Yeah the cops in Central America are not the same as SE Asia. :sweat_smile: A lot rougher.
The best way to learn the language though - en la calle y en la cama!
josh
2017-04-03 18:13
The gathering process must have been what I was thinking about when I looked at it all. Criminal background check etc, I'm in Asia as well and it's an annoyingly daunting thought to have to go get all that. But good to know it's quick once there.
stoplight
2017-04-03 19:01
@mysteir ?curiously?how much did they charge you?
mysteir
2017-04-03 23:11
@josh Agreed that Spanish would be helpful! You're right that the paperwork was a pain in the ass. It wasn't too bad until I hit a road block with the criminal certificate in Thailand. Since I spent most of the last few years in Thailand I opted to get the certificate from there and it ended up being pretty nightmarish. Got'er done though and happy I did because the residency payoff is huge.
mysteir
2017-04-03 23:12
@stoplight 7500$ (includes corp, excludes 5k bank deposit)
roman
2017-04-04 01:08
@mysteir what's the general requirement for residency? Do you need to invest a sum or what? Thank you.
mysteir
2017-04-04 01:33
@roman as I understand it you can do it through an investment in the country via "starting a business" (Panama Corp), Real Estate, and multiple other options. My firm set-up a Corp for me - which was included in their 7500$ fee. That Corp has 2 appointed directors (fees) plus an annual maintenance fee. I think it's around 500$/year but don't quote me on that. I suppose dissolving the Corp to avoid the yearly fees is possible after obtaining your residency, but in my case I'll keep it alive as I may have future uses for it.
You also need to deposit 5k in a local bank account. That's a good thing, because as part of this package you get a Panamanian bank account- mine pays 2.5% interest on USD (great place to park cash).
Aside from that, there's a process to go through obtaining paperwork before going, but the firm guides you through that and it's very doable.
I chose Panama for several reasons but generally it seemed to be the best "deal" going (Territorial taxation country residency for 7500$- that seems too good to be true). I am a resident of Thailand but have this in my pocket as a "backup" and possible place to retire in future. Who knows how much longer this awesome "friendly nations" visa will be around- I wanted to get it while still possible.
roman
2017-04-04 01:35
@mysteir so, to be clear, all in all, in total, it costs $7500 + bank deposit to get residency?
mysteir
2017-04-04 01:36
@roman yep
roman
2017-04-04 01:37
Wow, that's so great. Would a spouse need to apply separately or is it included?
mysteir
2017-04-04 01:39
@roman hmmm not sure as I'm not married so didn't ask that question
roman
2017-04-04 01:40
Ok, thank you. Good info!
josh
2017-04-04 02:43
@roman I believe it's $2500 for a spouse or dependents (each)
ahawkins
2017-04-04 05:02
great story & info. Thank you @mysteir :slightly_smiling_face:
soebusiness
2017-04-04 09:23
'
mysteir
2017-04-04 12:40
my pleasure guys
maxsuur
2017-04-04 13:01
Where do you come from @mysteir ?
mysteir
2017-04-04 13:03
@maxsuur I'm Canadian
maxsuur
2017-04-04 13:08
Mysteir's nationality is not a mystery to me anymore :p
roman
2017-04-04 13:15
@mysteir oh nice, I?m Canadian too. Was wondering if you were French or French Canadian hehe. I?m from Montreal, but don?t speak French, since I moved there only 2 years ago from the Ontario side.
mysteir
2017-04-04 13:59
Yep yep.. French Canadian from Ottawa :slightly_smiling_face:
mysteir
2017-04-04 13:59
Where do you call home Roman?
mysteir
2017-04-04 14:00
still Montreal?
roman
2017-04-04 14:00
For now, yes, Montr�al.
roman
2017-04-04 14:00
Officially Ottawa though :p
roman
2017-04-04 14:01
On paper that is.
roman
2017-04-04 14:01
Physically in Montr�al.
mysteir
2017-04-04 14:10
awesome.. although not as awesome during the winter :wink:
roman
2017-04-04 14:34
Ya that's why I'm in Chiang Mai now :p
pragmatic
2017-04-05 16:07
has joined #residency
pragmatic
2017-04-05 16:08
Hello. Is there any country other than Paraguay that meets the following residency criteria:
1. Easy to get
2. Do not need to live there to maintain it
3. Territorial taxation
agalt
2017-04-05 17:10
The Republic of Georgia
pragmatic
2017-04-05 17:14
@agalt hmm seems you have to be relocating to "manage a local company" ? https://www.freedomsurfer.com/georgia/
stoplight
2017-04-05 17:45
@pragmatic ?.our friends @agalt and @alexanderhay have gained good ground and experience in Georgia..they should be able to help you get residency?even citizenship there?
pragmatic
2017-04-05 17:48
@stoplight Okay thanks. So are Paraguay and Georgia the best options for the criteria I listed above?
stoplight
2017-04-05 18:04
If you just need residency and not thinking about citizenship after a number of years and just want the tax benefits, you actually have a multitude of options. In Asia, you have Thailand?s Elite Visa program, you have the Malaysia My Second Home program and the Philippines Special Retiree Visa program. In Europe, you can do the Malta Residency and Visa program. These are all government-approved programs which have been going on for a while and come at a cost. Compared to Panama, Paraguay and Georgia which you basically have to either DIY or hire a local to help you out which are also cheaper as well which is why many folks do this route. :slightly_smiling_face: ?if you want under the radar residency, I can help you with getting one in Tonga..for some really ?off-the-beaten-path? kind of residency..were they literally won?t give a rats as about you..lols! :joy: ..as long as your business isn?t porn or drug-related?then you should be fine there forever! hahahahha? :joy:
max
2017-04-05 18:11
@pragmatic I am currently in Panama completing my residency, you may also consider it as an option
pragmatic
2017-04-05 21:02
@stoplight thanks for the list. Yes, just interested in residency.
pragmatic
2017-04-05 21:02
@max Cool so Panama is another option, thanks!
maxsuur
2017-04-05 21:17
Tonga residency is so out off the box! Want one! More details please, sir :))
max
2017-04-06 03:45
by the way does anyone have experience with http://www.panamail.net or any other mail forwarding in Panama?
agalt
2017-04-06 07:07
@pragmatic there is an exception so you dont have to live there in some cases. Send me a pm if you hsve questions
jase
2017-04-06 07:16
@max I was using Mail Boxes Express for a while. Seemed alright but I'd prefer a more automated mail to PDF service.
mysteir
2017-04-06 13:21
No experience with them yet @max but please report on whether they're any good if you decide to use them
pragmatic
2017-04-06 13:30
So, if I have a residency for tax purposes in a country like Paraguay, or Panama, but don't actually spend any time there, and don't have a home there, would it be sufficient when another country is trying to determine your tax residency by domocile?
agalt
2017-04-06 13:47
get a 6 month lease maybe at a cheap spot, or rent a nicer place and have someone manage an air-bnb rental for you if you can work with a local?
mysteir
2017-04-06 14:19
As far as I know @pragmatic , at least under Canadian law, the answer is no. You would have to actually live and spend time there and have a solid case that it's your real home (long term lease, bank account, drivers license, club memberships, etc..)
pragmatic
2017-04-06 15:30
@mysteir I see. However, what about this case:
- You leave Canada/similar country (country A), to work in some other country for a year (country B), and you establish your domicile/abode there.
- After a year of working in country B you become a perpetual traveler.
- Country B has no claims on you now, because you required a visa and job in order to be a resident there
- Country A had no claims on you during the year you were living in Country B.
The question is, can Country A have claims on your tax residency after you've left Country B, even if they didn't for the time while you were in Country B?
mysteir
2017-04-06 15:43
That's a good question and not one I'm qualified to answer. I don't *think* so though. I don't believe that it's law that you *have* to be a tax resident of somewhere. I believe you can legally be a tax resident of nowhere 9perpetual traveller), and the tax code hasn't caught up yet. Grey zone. Again, I'm no lawyer but that's the legal advice I had previously been given.
mysteir
2017-04-06 16:00
What I had been advised upon leaving Canada is that the cautious route was establishing real ties and a real "home" somewhere for 2 years (being a real tax resident somewhere) before going the full perpetual traveller route.
roman
2017-04-06 16:16
That ?real home? can be in Bulgaria? I saw that you can buy real estate there for super cheap. So you can have the address.
roman
2017-04-06 16:17
I saw decent condos for 20k EUR, like really nice and fully furnished!
pragmatic
2017-04-06 16:19
@roman Bulgaria is not a 0% tax country though :slightly_smiling_face:
globalconsulteurope
2017-04-07 06:41
Yes, it isnt. 10% income tax for individuals on their world income.
agalt
2017-04-07 06:59
Georgia doesn't tax worldwide income, there is less bureaucracy, etc. Its gotten harder since they started changing things to make the eu happy. Ill be a citizen soon because i applied for residency before the rush and restrictions.
pragmatic
2017-04-07 07:27
I have several options for residency in territorial tax countries. That's not a problem. The problem is that I don't really want to actually live in them, and then may have a problem if I ever had to convince my original country that I have a permanent domicile elsewhere
maxsuur
2017-04-07 09:07
@pragmatic go for Paraguay then. Last time I talked with a local lead she told me that some clients of hers that registered as tax residents back in 2013, have never set foot in paraguain soil again, and still remain residents there
maxsuur
2017-04-07 09:07
It also depends on how strict your country of origin is when it comes to proof and stuff
maxsuur
2017-04-07 09:07
But I guess once you are out, you are out
pragmatic
2017-04-07 09:08
@maxsuur Yeah Paraguay seems the best option in that regard.
pragmatic
2017-04-07 09:08
@maxsuur as for my country (Australia), they didn't need to accept me going out or anything, I just put non-resident on my last tax return and that's it.
pragmatic
2017-04-07 09:08
it's just that, if they ever decide to audit me (unlikely), then I would need to prove that I have elsewhere domicile
maxsuur
2017-04-07 09:09
Cool
pragmatic
2017-04-07 09:09
And their rules do seem kind of strict. Similar to Canada I guess.
maxsuur
2017-04-07 09:09
The commonwealth..
maxsuur
2017-04-07 09:10
@stoplight knows a thing or two about the paraguay residency program. He introduced me to this woman.
maxsuur
2017-04-07 09:10
And once there you can also apply for nearby countries such as uruguay, chile, etc
maxsuur
2017-04-07 09:11
So you expand your options
stoplight
2017-04-07 17:13
@pragmatic ..paraguay is cheap?easy and not as complicated as the other Lat Am countries?.let me know when you would want to go there?if you?re sensitive about things?now maybe isn?t really the best of times to visit as they have some political crisis situation?a few riots?but it?s probably blown up more than it really is?..
agalt
2017-04-08 06:43
@stoplight so true. people panic about a political crisis when there are very few reasons to worry. The people who seem to worry about these social uphevals all to often have not seen voilence or political strife first-hand. The world is a safe place, minus a few areas here and there. Syria was a nice place 20 years ago before the USA started poking their nose in things.
jase
2017-04-08 07:36
+1. I went hitchhiking in Taiwan last week. Didn't die. :joy:
replay
2017-04-11 00:23
@stoplight i was in the middle of the political crisis in paraguay
replay
2017-04-11 00:24
i didn't know what's going on, and i just saw a big crowd of people, so at first i thought maybe it's another party on the streets in the city center (they've done that before)
replay
2017-04-11 00:24
then at some point i realized it's no party when the police shot tear gas and everybody started running, lol
replay
2017-04-11 00:24
later at home my flatmate told they've set the congress on fire
replay
2017-04-11 00:24
but it was pretty much a one-off event, wouldn't worry about it
replay
2017-04-11 00:31
usually paraguay is never in the news, like, ever... but exactly when i'm walking through the center of the capital they have to set their congress on fire :joy:
maxsuur
2017-04-11 05:37
Reminds me of Narcos- season 1
pragmatic
2017-04-11 14:41
@replay who did you end up using for your residence?
jake
2017-04-11 14:43
has joined #residency
pragmatic
2017-04-11 14:43
@replay Also, are you actually planning on spending time living there, or you will just use the residency for tax purposes?
replay
2017-04-11 14:51
@pragmatic i ended up going with the agent that @stoplight put me in contact with
replay
2017-04-11 14:51
no, i'm not planning to spend a lot of time here
replay
2017-04-11 14:52
i wouldn't say it's for tax purposes, i just got it because i needed some residency and this was the easiest one to get
replay
2017-04-11 14:52
i didn't have one for many years, and that's getting kind of difficult
ahawkins
2017-04-12 09:10
> Your Estonian e-residency card has arrived at our Embassy. The card can be picked up only in person during any Monday or Wednesday between noon and 1 pm (except for public holidays). Should these timings not work for you, please email to agree on an alternate timing. Please bring your passport with you at the time of arrival at the Embassy.
:confetti_ball:
stoplight
2017-04-12 09:36
seems like everyone here is getting an Estonian e-residency card?just wish I could justify its value for my needs?lol! :smile: ..
ahawkins
2017-04-12 09:50
it's an easy thing to get for the options it provides
ahawkins
2017-04-12 09:50
much easier than other things
ahawkins
2017-04-12 09:50
@stoplight what are your options?
stoplight
2017-04-14 00:06
@ahawkins I definitely agree on that! Though probably i?m just not looking at doing services in the EU zone, which is one of the best reasons to get the e-resident card..
sdfk787
2017-04-16 13:59
has joined #residency
skat
2017-04-16 14:24
@skat has left the channel
ayotech
2017-04-17 13:53
has joined #residency
brepalco
2017-04-18 06:11
has joined #residency
aka
2017-04-18 16:00
Smells fishy, and cheap
aka
2017-04-18 16:00
It costs $US60,000 for 20 years residency, along with a $US600 a year membership fee.
aka
2017-04-18 16:01
Included in the price is a state-sponsored concierge programme, entitling members to VIP access to government agencies dealing with immigration, driving licences, and work permits.
aka
2017-04-18 16:01
The government will also provide complimentary return airport transfers, an annual health check up at a private hospital and 24 spa treatments and golfing trips a year.
agalt
2017-04-18 16:27
Or they just run the government like a business and realize who their target clients are?
aka
2017-04-18 17:02
its a good business
aka
2017-04-18 17:02
altough its not directly through the goverment
aka
2017-04-18 17:02
its through a private company authorized by the gov tourist board
aka
2017-04-18 17:03
someone did some shady deals and presented a nice way of making 60k easily
soniasofia
2017-04-18 17:10
has joined #residency
harvie
2017-04-19 03:39
A few of my friends have the $10k visas for 5 years, all said they love it
stoplight
2017-04-19 04:17
The Thailand Elite program has been ongoing for quite a while.. :slightly_smiling_face: ?good business for the corrupt government officials?to line up their pockets..haha.. :smile: ?so it will probably continue till forever?lols! ?it has gone main stream in the last few years where they actually join citizenship & residency conferences..they?re actually marketing it globally now?
stoplight
2017-04-19 04:20
Ok..figures?this article was pushed by the PR company of Henley & Partners Asia Pacific? :slightly_smiling_face: ?they?re the newest promoters of the Thailand Elite program?
roman
2017-04-19 05:21
I think there is a bit of truth on both sides. There is corruption. But there it is also good for the country. Wealthy people are _usually_ entrepreneurs, and attracting these kinds of people to a country is always a good idea. Thailand needs more people like that.
roman
2017-04-19 05:22
@dawn I also read that this program existed for a while, but apparently, according to commentary, this is something new, which is similar to the old program. But I have not verified these claims. I never knew of the old program, so nothing to compare.
mrblonde
2017-04-19 12:50
the elite programme is totally legit and has been going for years, there was a short period where it was frozen a few years back but it was re-activated, designed to attract the affluent, also used as a tool by property developers as there is a version designed for them to bundle it in with condo deals etc
know many people with it who have no issues, saves them hassle of visa runs etc
stoplight
2017-04-20 04:19
Thailand has been a cesspool of expats for some time now..the Thai government knows this and it was really a no-brainer for them to think of something like this?in fact..if you ask me?other countries with high numbers of expats should follow suit?its really a good idea?.a visa+concierge+VIP service in one?
roman
2017-04-20 12:13
Ya no doubt. Why make it difficult if you can just make money off of it. Just business sense. :slightly_smiling_face:
roman
2017-04-20 12:13
Otherwise a ton of people were spending on stupid edu visas anyways.
roman
2017-04-20 12:13
Or running weird setups with local businesses, like Iglu
danz
2017-04-20 12:33
I still don?t know why people chose to work with Iglu in Thailand as it seemed very expensive to me and should be way better options
harvie
2017-04-21 03:31
@danz I think people don't know any better. Setting up a BOI is another way to get residency my friends are in the process of doing it now. I'd get the TE myself but not sure if I'll be here in 5 years, wish they did it on a yearly basis :disappointed:
mysteir
2017-04-21 03:33
I'm on the TE and it's wonderful. Saves an incredible amount of time and hassle
ahawkins
2017-04-21 09:27
Totally agree. I'd _totally_ got for a straight up money for residency visa.
ahawkins
2017-04-21 09:28
@harvie which visa are you referring to here? https://freedomsurfer.slack.com/archives/C1CG054AY/p1492573166897674
harvie
2017-04-21 10:15
The Thailand Elite, two of them have the 5 year one and said they love it. My mistake, it's not $10k, more $14k~ @ahawkins
ahawkins
2017-04-21 13:11
still 14K for a 5 year residency visa is pretty nice
agalt
2017-04-21 19:17
You can get permanent residency/ citizenship with shengen acess after naturalization in countries for less than this price. Why the interest in Thailand over other places when you can do visa runs for less in Thailand and get residency in another country for the combined 14k including your visa runs
roman
2017-04-22 07:53
@agalt if you have millions in your account you are not so worried about small things like that :slightly_smiling_face: Thailand attracts a lot of wealthy people for various reasons. Some invest, some ran scams, some do legit business, some just want cheap and accessible sex, some just love the country for what it is. I?d imagine some Chinese millionaire would be attracted to this offering. Close to home, good weather, can come for a weekend of golf or move your family here. Lots of Chinese kids in international schools in Thailand. (my friend told me half his class is Chinese the other 1/4 is Korean, and 1/4 Japanese). I think Chinese are really starting to ?occupy? Thailand for the last couple of years. 1) China has more billionaires than US, 2) China is now #2 in the world for total millionaires.
agalt
2017-04-22 09:11
Aha, this is a similar mindset to the Chinese who come to the USSA for the EB5 program. Years ago I worked with a US and Chinese national who ran these programs in the states. The barrier to entry was higher (500k usd + fees) but the promise of a better life for the family + better schools and no extradition was the draw. For some the US passport is still the draw, but many are leaving the the USSA for obvious (non-political) reasons. Asia does draw a great deal of people to it for similar reasons that Europe draws others. I'm not knocking the program. We all need a spot in the world that works for us.
agalt
2017-04-22 09:12
@roman good points and helpful data. Very helpful post.
ahawkins
2017-04-24 06:24
@agalt Where are you referring to in https://freedomsurfer.slack.com/archives/C1CG054AY/p1492802276979005 ?
simon
2017-04-24 07:01
It may interest some to learn that the new residency rules in Japan have finally been implemented. As long as you score 80+ points, you can apply for permanent residency after living in Japan for only one year. Most of the score is based on your income and age.
simon
2017-04-24 07:01
@simon uploaded a file: https://freedomsurfer.slack.com/files/simon/F52PQK5H7/image_uploaded_from_ios.jpg
simon
2017-04-24 07:02
Not a zero tax residency by any means but Japan is a pretty cool place to live in
simon
2017-04-24 07:03
agalt
2017-04-24 07:18
@ahawkins the Republic of Georgia used to be 10k for residency. There are members on here thst have gobe through the process. It is a nice place to live depending on your preferences as well.
ahawkins
2017-04-24 07:19
holy crap!
ahawkins
2017-04-24 07:19
@simon that's awesome!!
agalt
2017-04-24 07:22
@alexanderhay and i both got residency before they had visa on arrival for shengen, and another member on here got residency also. There may be others living in Georgia as well taking advantage of the 0% tax on software exports and no taxes on foreign earned income through a foreign corporation.
ahawkins
2017-04-24 07:22
@agalt that's really not bad
agalt
2017-04-24 07:22
Send me a pm and we can discuss more if you like
agalt
2017-04-24 07:24
You can also set up a structure very similar to an ibc with berrar shares in Georgia as well
agalt
2017-04-24 07:25
The Estonia style tax system lets you "expense" all of your profits out of a georgian company so you dont have any profits to be taxed as well
ahawkins
2017-04-24 07:26
o_0
ahawkins
2017-04-24 07:26
Any other such options that exchange currency for residency?
agalt
2017-04-24 07:26
The banks are great as well even for those of us from the ussa
agalt
2017-04-24 07:27
@ahawkins? I don't understand your question?
ahawkins
2017-04-24 07:27
@agalt pay X, receive residency
agalt
2017-04-24 07:28
Montenegro is also good
agalt
2017-04-24 07:28
Hungary and Bulgaria as well
agalt
2017-04-24 07:35
Bosnia also. Fast passport
agalt
2017-04-24 07:36
Latvia, etc
agalt
2017-04-24 07:37
Many of these options would require a conversation in a law office in Ljubljana, Slovenia
agalt
2017-04-24 07:45
It is no secret to people here that i like eastern Europe, but those of you who have a weak stomach for corruption, and a different way of life may not like these options
simon
2017-04-24 07:48
@ahawkins Most countries will grant residency in exchange for payment. This includes the US, Canada, most EU countries etc. The amount you have to invest is fairly substantial though, often over a million USD. Some countries have "cheap" programs. For example, Thailand has a paid residency program that costs a few grand a year, Malaysia has the MM2H program which is very cheap, many South American countries will grant residency if you can prove guaranteed income. There are also the "middle" programs, not exactly cheap but quite reasonable. Slovenia, Netherlands, Taiwan etc.
simon
2017-04-24 07:50
And now Japan where all you have to do is register a local business and pay yourself around 300k USD for one year (the taxes on that will be brutal) and then you get permanent residency.
brutus
2017-04-27 11:11
has joined #residency
alexanderhay
2017-04-28 05:10
agalt: This is true. All of the Chinese immigrants who came over on the $500K to $1M program are planning to leave with their money. The last 8 years have been too disappointing and the future offers little change their minds.
alexanderhay
2017-04-28 05:14
@ahawkins I am a little confused? Why are you so eager to pay for something that the Georgian government essentially gives away for free? There is about a $200 filing fee plus legal costs. The process has gotten a little more complicated. If you don't do it right you may not get the results you are looking for. etc etc etc. There is a residency program that involves making a modest investment and then you get a non-renewable visa (never has to be renewed) for you and your entire family.
brutus
2017-04-28 06:17
Hello everyone, new member. Can I ask if any of you has experience of getting Non-Dom resident status in Cyprus? Was it easy or difficult, which kind of documents were requested, how long it took...? Thank you!
ahawkins
2017-04-28 06:58
@alexanderhay I'm not talking about Georgia specifically, but rather arrangements where an individual exchanges money for residency. What do you mean by "gives away for free"?
agalt
2017-04-28 07:09
@ahawkins there are many such programs that you can buy residency through goverment approved programs (no funny business)
ahawkins
2017-04-28 07:11
Yes. My point was you can generally gain residency through simple direct payment to the government, opening a business, taking employment, or other various options. The first case is the fastest and most straight forward if you can afford it.
agalt
2017-04-28 07:11
montenegro has a neat program that is a "retirement visa" for residency
agalt
2017-04-28 07:12
yes, the cost barrier to entry in georgia is one of the lowest available right now which is why many are interested in it
agalt
2017-04-28 07:14
however a canadian friend of mine (not anyone on this slack group) tried to do georgian residency by himself. He speaks fluent Russian. The Georgian goverment officials did not take him seriously because of the way he presented himself, and also his lack of legal council. They requested that he come in for an interview for residency, and after laughing at him and his Russian national girlfriend only gave him 6 months residency
ahawkins
2017-04-28 07:15
ouch :disappointed:
agalt
2017-04-28 07:16
I walked in with an attorney when I got my residency while alternating between tea and coffee, checking emails on my phone, reading zerohedge, and drudge. No interview, no further questions. residency in 10 days
ahawkins
2017-04-28 07:18
ha! Living the dream.
agalt
2017-04-28 07:18
not the american dream... the republic of georgia freedom dream
danz
2017-04-28 07:18
Haha, it sounds good.
ahawkins
2017-04-28 07:18
In general my GF and I are trying to figure where the hell we're going to live. It's a very complicated problem that I'm trying to slowly untangle and come up with an answer
agalt
2017-04-28 07:19
well, they are accepting of indian nationals in Georgia
ahawkins
2017-04-28 07:19
Something like a few thousands dollars a year is completely feasible for us to residency
ahawkins
2017-04-28 07:20
zomg agalt you remembered! :joy:
agalt
2017-04-28 07:20
i remember most of what i see, what i hear is different
ahawkins
2017-04-28 07:20
I remember watching the Part Unknown episode on Georgia and thinking "this is interesting"
ahawkins
2017-04-28 07:20
the woman in that episode was pitching Georgia pretty hard
agalt
2017-04-28 07:20
come see us and the other freedom surfer crowd that has made our way to Georgia
agalt
2017-04-28 07:21
there are quite a few of us that have passed through, but due to client privacy I can not discuss that
ahawkins
2017-04-28 07:22
my GF's requirements are: 1) clean air; 2) clean water; 3) access to organic and healthy food
ahawkins
2017-04-28 07:22
also good power grid is a step for us in India :disappointed:
ahawkins
2017-04-28 07:22
5 hour power outage yesterday
agalt
2017-04-28 07:23
zomg
agalt
2017-04-28 07:23
seriously. hop on a plane and come to georgia
agalt
2017-04-28 07:24
what are you waiting for. I realize that India is cheap, but "cheap for what quality of life?"
agalt
2017-04-28 07:25
living in the white ghetto in America was cheap, but hearing gunshots every night is no way to live
ahawkins
2017-04-28 07:28
well the situation is that: I'm a full time employee here in India. So if I quit this job I must leave the country. Then that opens up the question of how will _both_ of us get residency. The easiest route to that is marriage which is a whole pre-req to do anything on the external residency front. It's easier for me to gain residency because I can (software/IT) can work anywhere whereas less for her (fashion/advertising)
ahawkins
2017-04-28 07:28
realistically we don't want to go the residency via employment route so trying to find something that supports self employed peoples
agalt
2017-04-28 07:28
and you have a 0% tax on software exports in georgia plus a low cost of living and good banking options
agalt
2017-04-28 07:29
TBC Bank is traded on the london stock exchange
ahawkins
2017-04-28 07:29
the current blocker is my job here and quitting that / getting out of the country to explore others for residency options
ahawkins
2017-04-28 07:30
she's never lived outside India so she's much more cautious than I am
agalt
2017-04-28 07:30
send me a message. lets talk
agalt
2017-04-28 07:30
or we can talk on viber. you pick. I want to help you.
ahawkins
2017-04-28 07:32
thanks a lot friend :bow:
ahawkins
2017-04-28 07:32
I really appreciate it
ahawkins
2017-04-28 07:33
seems the FS crowd are the only people I can discuss such things with :slightly_smiling_face:
alexanderhay
2017-04-28 08:57
Answering a question way up there: what is free? You can get a Georgian residence visa without paying anything other than the filing fee of about $200. You have to jump through some hoops, and I would advise being represented by a good Georgian lawyer, but you don't have to pay anything in exchange for the visa. There is an investment option that is very appealing for a family since the entire family is included and the visa for them all does not ever need to be renewed, but that is not for everyone.
ahawkins
2017-04-28 09:44
@alexanderhay Thanks for clarifying. What do you get with this $200 fee/process? Also does that cover spouses?
alexanderhay
2017-04-29 07:02
It is the filing fee. You pay the government $200 to file your papers. Like anywhere else. The standard application only covers you. The investment visa covers the entire family.
ahawkins
2017-04-29 09:06
Right. Sorry I was unclear. I was asking about what are the terms of the visa you get from the process (e.g. does it cover spouses?)
stoplight
2017-04-29 09:25
@ahawkins ?with your situation?Georgia would indeed be a good option and still a cheap one at that. Both @alexanderhay and @agalt have already established good connections there and can really push that extra mile specially since you want to live there as well. It will be a welcome change from India and with the Schengen access, not too bad as well.
agalt
2017-04-29 09:28
Georgia is so close to Europe if you want to fly to Greece or Italy for a weekend. I have a friend in Georgia that is used to visa paperwork, and could help someone that was indian get a tourist visa to italy or Greece.
agalt
2017-04-29 09:30
Lots of options there. We do business the old way though. Most everything is done without computers over coffee or dinner. This is a shock to some people in the digital age.
simon
2017-04-30 06:57
@ahawkins I'm not sure if I mentioned it before but as an American you can easily apply for residency in the Netherlands using the DAFT visa. The visa cost is very low and you can sponsor dependants. Taxes in NL are fairly high though and acquiring citizenship takes a few years.
maxsuur
2017-04-30 07:23
A spanish friend of mine has lived in the Netherlands tax free for almost 5 years.
danz
2017-04-30 07:23
While I paid up to around 50% as a Dutch citizen before
maxsuur
2017-04-30 07:24
Apparently if you are a qualified professional (engineer, architect, doctor) and start working for a company there. You've got a 8 year tax exemption
agalt
2017-04-30 08:50
@danz ouch! I pay nothing globally, but it took some figuring out until i got there. @alexanderhay set up the bahamas trust + texas llc and the georgian residency ties the strategy together. Even my georgian company pays no taxes using the new Estonian based georgian tax law. I don't deal with the monthly fees that would be required in Estonia also, and our banks are non-crs compliant as well. You can hire a georgian book keeper to expense all of your profits to the texas llc that is a pass through tax entity. You work hard for your income. No reason to be a tax slave if it is not required.
simon
2017-04-30 09:05
@maxsuur I'm aware of a program for expats in NL but I was under the impression that only employees qualify (not business owners). It would be great if there is a way to combine this + DAFT visa.
ahawkins
2017-04-30 09:41
@simon I'm aware of the DAFT. I understand that requires starting a company though. Is that correct?
simon
2017-04-30 09:44
@ahawkins Yes, you need to register a business and invest 4500 EUR in it.
ahawkins
2017-04-30 10:16
really not too bad
ahawkins
2017-04-30 10:16
especially if you want to start a business (like I do!)
agalt
2017-04-30 12:05
how are the taxes though?
ahawkins
2017-04-30 12:29
higher than others in general, but NL isn't so bad
ahawkins
2017-04-30 12:30
truthfully I don't mind paying taxes as long as I get value from them. I pay more tax here in India than I do in Sweden. Naturally you get shit all for that in India.
agalt
2017-04-30 12:32
@ahawkins if you do georgian residency the health provider is based out of vienna austria and they honor contracts
agalt
2017-04-30 12:32
then you pay 150usd a year for health insurance that can be combined with travel insurance
agalt
2017-04-30 12:33
you just pay and insurance contract instead of paying taxes to some place that uses them poorly on public services
ahawkins
2017-04-30 12:35
nice, more good info
ahawkins
2017-04-30 12:48
I really need to sit down and write up my thoughts/analysis of all the different option in front of us. I'm sure all of you would tear it apart :smile:
agalt
2017-04-30 12:52
these options are personal and tailored to individual needs
agalt
2017-04-30 12:53
for some bulgarian residency might be good, for some georgian residency fits, but for others hong kong may work. it depends on what you sell and what amount of goverment b.s. you can put up, and where you really want to live
ahawkins
2017-04-30 12:54
Of course. I'm talking about the places I've researched against our requirements. Our current focus is more long term residency so my GF can get a better passport.
brutus
2017-04-30 13:40
@agalt: this private health works only if Georgia based? And only in Georgia or also covers in other countries and for how many days max?
agalt
2017-04-30 13:41
Private health works worldwide
agalt
2017-04-30 13:42
Austrian based insurance contract
agalt
2017-04-30 13:42
Its offered through a georgian company
jase
2017-04-30 14:46
ahawkins: very cool @simon. I wonder if this could be a workaround for self-employed people to get a mortgage in a new country of residence?
ahawkins
2017-05-01 07:46
Anyone happen to have any experience with the US green card process for US citizens with foreign spouses? I'm curious how long it would take in my case. It _seems_ that getting married outside the US is faster than inside. In this case the spouse becomes a lawful permanant resident upon entering the country (given appropriate pre-req paperwork has been filed).
ahawkins
2017-05-01 07:53
seems that I, as US citizen with no domicile, must marry in my country of residence
alexanderhay
2017-05-01 08:15
@ahawkins I practiced immigration law for 20 years, and your understanding of things is not correct. I would strongly advise you to obtain a consultation with an up to date US immigration lawyer as soon as possible before you make some very big mistakes.
ahawkins
2017-05-01 08:27
@alexanderhay Thanks for the heads up :bow: I appreciate it. I agree. A US immigration lawyer is a must.
ahawkins
2017-05-01 08:30
any recommendations?
alexanderhay
2017-05-01 09:17
No. A good US immigration lawyer will usually charge you $500 non-refundable fee for the initial consultation. At that point they will work with you and figure out what is best. I suspect some have joined the modern world and will do a telephone consultation or something online.
alexanderhay
2017-05-01 09:20
@ahawkins now that I think of it there is a really good immigration lawyer in Dallas. He used to be the guy I went to when I couldn't figure out what to do for a client. Very smart. https://www.jw.com/james-prappas/
alexanderhay
2017-05-01 09:21
and they seem to have sent him back to Houston!
philippe
2017-05-07 20:27
just arrived in chile, let?s do it :slightly_smiling_face:
johncitizen
2017-05-09 00:05
has joined #residency
paul
2017-05-09 04:31
has joined #residency
brab
2017-05-10 16:29
has joined #residency
bmapilot
2017-05-12 08:20
has joined #residency
simonbcr
2017-05-12 09:53
has joined #residency
otkeedca
2017-05-18 05:22
has joined #residency
maxsuur
2017-05-18 13:28
@simon for Malta's residency you recommend doing it via a third party (service provider) or just doing it yourself?
ma-x-us
2017-05-20 07:07
@ma-x-us has left the channel
simon
2017-05-21 07:51
@maxsuur You can easily do it yourself
swiss_gael
2017-05-22 11:46
has joined #residency
brian
2017-05-23 21:14
has joined #residency
emondpph
2017-05-25 08:39
has joined #residency
architect
2017-05-25 12:27
has joined #residency
pieter.j.becker
2017-05-28 14:28
has joined #residency
jase
2017-05-29 15:38
@pragmatic by standards of this community Andorra is extremely hard and expensive to get residency in. https://jaserodley.com/living-in-andorra/
simon
2017-05-29 15:52
@jase Out of curiosity, can you apply in Andorra? It seems to me that having to apply at a consulate would be a pain considering how few they have.
jase
2017-05-29 15:53
Yeah that's how we applied @simon. You need an address for the company - for many people this is their home address, so visiting is a good idea first anyway. It's good to kick start the process.
pragmatic
2017-05-29 15:59
Malta option seems amazing for EU citizens. I can become a Hungarian citizen if I learn the language well enough to pass an interview at a consulate. I wonder if I spent a month full-time cramming Hungarian if I could make it :stuck_out_tongue:
maxsuur
2017-05-29 16:45
It is hard, but not impossible. I can give you the contact of some people very adept at language learning who can help you speed up the process @pragmatic
pragmatic
2017-05-29 16:47
Sure. @maxsuur
pragmatic
2017-05-29 21:52
@simon so I'm trying to understand the Malta domicile vs resident thing. If you are not domiciled in Malta, doesn't that imply you are domiciled elsewhere, and hence may be liable for taxation by domicile in that other country?
tkrunning
2017-05-29 23:17
Different countries have different definitions of domicile. And many (most?) countries don't tax based on domicile either. And even if the country where you're domiciled do tax based on it according to domestic law, tax treaties will often come to the rescue.
But yeah, theoretically/by definition, you will always have a domicile (and only one).
maxsuur
2017-05-30 10:11
@simon one of the members asked about registering for Malta's self-sufficiency program using a "private address". What do you think about using one of the addresses provided by these guys instead of renting: http://www.indotco.com/main/index.php?page=133 ?
simon
2017-05-30 10:26
@maxsuur I wouldn't recommend it. You would be sharing the same residential address with potentially hundreds of other "residents", a big red flag for the Maltese authorities.
josh
2017-05-30 10:40
I wonder if there are AirBnB owners who, for a fee, would be willing to share their address with only 1 or 2 select people...
agalt
2017-05-30 10:40
there are in Tbilisi
mep757
2017-05-30 10:56
has joined #residency
agalt
2017-05-30 10:56
Address, utillity bills, and phone that sits in the appartment to recieve messages. Mail forwarding of course
maxsuur
2017-05-30 11:31
simon: Thanks simon.
maxsuur
2017-05-30 11:31
josh: I am sure there is
pragmatic
2017-05-30 11:50
@simon @maxsuur so if you were to be a resident of Malta, and you owned an IBC, would that IBC technically be a Malta corporate tax resident?
simon
2017-05-30 12:31
@pragmatic In most cases yes, if it is managed from Malta. As a non-domiciled corporate tax resident, the IBC will only be liable for Maltese taxation on income remitted to Malta (just like individuals).
pragmatic
2017-05-30 12:34
Ah
pragmatic
2017-05-30 12:34
so the corporate tax works the same way
pragmatic
2017-05-30 12:34
with the domicile
jase
2017-05-30 12:42
I can just picture it now... people asking for "another power meter" installed on their apartment :joy:
agalt
2017-05-30 12:44
you can do it the right way with multiple apartments. People want to sneak arround with this residency stuff and utillity bills. It does not need to be this way.
jase
2017-05-30 12:45
like the UAE office space
agalt
2017-05-30 12:46
yeah, or whatever program provides it the correct way
agalt
2017-05-30 12:46
pick your country that works and do it correctly
jase
2017-05-30 12:46
agreed
max
2017-05-30 16:28
Any ideas on where I should try my luck registering a car in the continental Europe without permanent EU residency? Initially I hoped to register in the name of my Estonian company, but LeapIn told me it?s one of the things they do not do.
jase
2017-05-30 16:37
Andorra has tourist plates @max. Makes for cheap insurance I am told
jase
2017-05-30 16:38
And.... No speeding fines from cameras outside of Andorra :zipper_mouth_face:
max
2017-05-30 16:54
@jase are you serious?
max
2017-05-30 16:56
do you think they would go for a 100 year old flying Persian carpet?
max
2017-05-30 16:56
;-)
jase
2017-05-30 16:56
@max on which part? Both are technically correct... But of course I do not condone any sort of illegal driving :stuck_out_tongue:
jase
2017-05-30 16:58
I know someone that had cruise control set on 150kmh (130kmh zone) from South to North of France waving as they passed the speed cameras without issue.
jase
2017-05-30 16:58
Of course, get caught red handed and it's a different story.
max
2017-05-30 16:59
I meant: is it feasible from a practical point of view? Taxes, duties, registration procedure...Where do I buy the car?
pragmatic
2017-05-30 17:00
@jase how come they don't get speeding fines from outside Andorra?
jase
2017-05-30 17:01
I believe it's all very straightforward but I haven't done it myself as I am on resident plates. The Russians love them.
pragmatic
2017-05-30 17:01
But I know that some EU countries, if you're a resident, you're required to have local plates on your car.
jase
2017-05-30 17:01
@pragmatic no other country has access to the license plate database. They don't know where to send the fines.
jase
2017-05-30 17:02
One thing that surprised me... They told me my insurance won't cover me in 2 countries... Syria and North Korea
max
2017-05-30 17:02
Btw, I am reading about Slovakia, lots of people with Ferraris from there... Think they are easy on VAT
max
2017-05-30 17:03
@jase then you have to say no to those holiday offers, haha
jase
2017-05-30 17:03
4.5% VAT here Max
jase
2017-05-30 17:03
Yeah real shame! Haha
maxsuur
2017-05-30 17:25
@jase what a turnoff! If they don't cover those 2 countries, they'll never get me as a customer! Haha said no-one :))
maxsuur
2017-05-30 17:26
@jase thinking of buying a car solely to register it in Andorra.
pragmatic
2017-05-30 17:27
Can't you get a similar effect by registering a car in the name of an IBC? Or is that not possible?
jase
2017-05-30 17:43
Honestly it's made me begin to consider buying a 4x4 van and driving around the world
maxsuur
2017-05-30 17:46
haha, that's been long a dream of mine.
max
2017-05-30 19:12
@pragmatic I do not think you would get far with a registration of car in the name of an IBC in EU. In case I am wrong please correct me - I would like to know how to do it
max
2017-05-31 03:21
@jase I did a bit of research and Andorra is starting to look quite reasonable
max
2017-05-31 03:22
@pragmatic apparently you might be able to register as an IBC in Andorra..
max
2017-05-31 04:27
It appears that Andorra is quite right if you are purchasing a 2nd hand car, which has VAT already initially paid on it or if buying a car from a dealer with import only clause. Anything new and above 100K - I'd go for a Slovak/ Czech company setup and save VAT and duty imports which can effectively reduce the car price by a third.
simon
2017-05-31 04:54
@max You can drive in Europe with a car plated outside Europe (if you are not a resident). For example, a UAE plated car.
simon
2017-05-31 07:48
@brian International Business Company. It's the name used to describe the non-resident corporations formed in countries like the Seychelles
kl5340dc
2017-05-31 10:39
has joined #residency
c-bass
2017-05-31 15:36
has joined #residency
roman
2017-06-01 01:22
I know people who drove in Serbia with American and Canadian plates indefinitely. I think they just left the country once in a while or something like that.
kl5340dc
2017-06-01 05:32
some people just register their car in BG but drive it elsewhere in EU. It's easy to do and saves a ton of money in yearly car tax, checkup, etc
nickc
2017-06-01 07:53
has joined #residency
agalt
2017-06-01 08:13
Georgia is easy to get a liscense in if you are a resident, they dont inspect cars or tax them heavily. If any of you are in town and have your residency, look at getting a liscense
agalt
2017-06-01 13:57
Ask the attorney or the contact in Georgia i introduced you to. They can help you with this.
alexanderhay
2017-06-01 20:22
You are forced to drive in a two hour destruction derby contest. If you survive you get your license.
agalt
2017-06-02 09:08
Or sidewalks. Wait... No thats where people park :)
agalt
2017-06-02 09:34
@brian the georgians use the Russian lada with a roof rack as a pick-up truck
agalt
2017-06-02 09:38
I remember seeing a head on crash with a Mercedes suv and a small Renault in Tbilisi. The petrol is cheap, so if you drive in the future get something larger so the crash hurts less. Getting hit from the side at 40 mp/h hurt less in my subaru outback than the side colosion at the same speed in a passat.
agalt
2017-06-02 09:40
Seeing snowflakes screaming from the states in occasions like this is one of the qualities that seems to keep many of them out of Georgia
alexanderhay
2017-06-02 15:19
Cheaper and easier to hire a Georgian with a car to drive you around. There is really no reason to have a car in Tbilisi, or at least very few. I prefer utilizing those poor stupid shits who buy cars that can't really afford who then drive me around for next to nothing. Much better financially.
simon
2017-06-02 15:29
It's a wonder how they make any money. I regularly use Uber, Grab and Didi and in poor countries they are just unbelievably cheap. Sometimes cheaper than the metro. Gas prices here aren't low and neither are car prices...
alexanderhay
2017-06-02 17:03
Did you take the funicular to the top of Matsimindi?
alexanderhay
2017-06-02 17:05
@simon I have been asking that same question about taxis in Tbilisi. I don't know how they survive. The gasoline is cheaper than most places, and a lot of the cars run on natural gas which is almost free in Georgia. But still you have to buy tires, and parts, etc. Mechanical and body work is incredibly cheap in Georgia. So maybe that is it. A rebuilt engine costs something like $150 for most cars, particularly if you have the old engine to be rebuilt or traded in
agalt
2017-06-02 17:35
The taxis in sofia are cheap also, but Georgia has them beat for sure.
agalt
2017-06-02 17:37
Cars are also cheap in Georgia if people want to buy a beat up old Mercedes 4 door sedan or subaru. No emissions tests and no inspections so far until the eu starts telling Georgia how to behave when they are a sovereign country.
alexanderhay
2017-06-02 18:11
It has already started. The only problem is that Georgians either do everything ass backwards or the EU gives them really really stupid advice on how to comply with their endless list of demands. There are a lot of junky old cars in Georgia. And I suspect some of them are not kept in ideal running condition and are thus spewing unacceptable amounts of pollution. The solution has been outlaw the importation of Japanese cars that have right sided steering wheels. I don't get that. Those are some of the nicest cars out there, and they run better than most. Of course there is also the issue of trying to get rid of cars in Tbilisi. The city was simply not designed for this many cars, there is no way of fixing the problem, and most of the people driving don't need to be driving in the first place. I think it would be better to focus on what is the real problem: too many cars in a city that simply cannot handle them. But instead they outlaw the importation of cars with right sided steering wheels.
agalt
2017-06-02 19:21
Thsts unfortunate. Dashed my hopes of importing and restoring a subaru 22b 2 door :(
alexanderhay
2017-06-02 22:07
I bet you can find one here.
johncitizen
2017-06-02 22:53
Subaru Brumby...
alexanderhay
2017-06-03 01:54
That is scary.
agalt
2017-06-03 05:14
Taxis are crazy in sofia, but Tbilisi seems to have sofia beat for shock and entertainment value. @johncitizen The brumby is a neat vehicle. the 22b would be easier to find parts for. Reagan used a brumby on his ranch according to some. Beats a golf cart :)
agalt
2017-06-03 11:15
@ahawkins how is the traffic in India?
pragmatic
2017-06-03 14:53
@alexanderhay What do you like about living in Georgia? Other than the tax benefits of course.
alexanderhay
2017-06-03 19:57
@pragmatic Everything. You are free to do what you like. Well, within reason. Business opportunities are everywhere. Yes, things are confused and messed up, and the people have a very negative attitude about things, but that is why there is opportunity. I love the people, even with their negative attitude about Georgia, because they are warm and generous people. The country is beautiful. The food is wonderful. The wine is fantastic. If I was a ladies man, that would be something else to enjoy.
kl5340dc
2017-06-05 03:49
I got an answer back from tax lawyer in Georgia, recommended by @alexanderhay and @agalt
kl5340dc
2017-06-05 03:49
for tax residency without living there 183 days a year, he recommend the high net worth individual
kl5340dc
2017-06-05 03:51
this requires georgian source income of 25000gel a year (10000usd)
kl5340dc
2017-06-05 03:51
this could be done using a georgian company
kl5340dc
2017-06-05 03:51
So how does this happen in practice?
kl5340dc
2017-06-05 04:00
I'm confused about that "sourced income". If the money is earned outside of georgia, and there's no-one working in Georgia, does that qualify as sourced income?
kl5340dc
2017-06-05 04:01
Example - you setup a georgia company to receive affiliate commissions earned in the US. Does that qualify as georgia sourced income?
kl5340dc
2017-06-05 06:25
If you're not tax resident, there's not much point in the whole thing :slightly_smiling_face:
kl5340dc
2017-06-05 10:21
everybody has his definition of nice place. Georgia doesn't fit mine. Low cost is nice but I'm fine paying more elsewhere to get what I want
kl5340dc
2017-06-05 10:21
that georgia tax lawyer got back to me and he seems full of shit
kl5340dc
2017-06-05 10:22
says you need either 3 million gel real estate or 25k georgia sourced income to qualify for tax resident as person
kl5340dc
2017-06-05 10:22
Then says you can create georgia company, pay tax on it, but you won't be tax resident in person
pragmatic
2017-06-05 10:23
What makes you say he seems full of shit?
kl5340dc
2017-06-05 10:26
the pocket tax book of georgia, from their official website - https://investingeorgia.org/en/ajax/downloadFile/449/Pocket_Tax_Book
pragmatic
2017-06-05 10:30
Do you want to point out exactly what you think he said that conflicts with the book :slightly_smiling_face: ?
kl5340dc
2017-06-05 10:30
I read this
Page 17/18
- tax residency for high net worth individuals
- high net worth individual is defined as 3million property, OR income of 200k gel last three years
- can apply for tax residency if 25k georgia source income, OR holder of residence permit
agalt
2017-06-05 10:31
Get residency then
agalt
2017-06-05 10:31
Thats the fast way
kl5340dc
2017-06-05 10:31
He sent this
#####
to award Georgian tax residency you have to have two criterions:
1. Have property, which coast all together is more than 3 million Gel.
2. Have 25 000 Gel annual income from Georgian source (for example Georgian company)
Physical person can?t be tax resident unless he has property, which coast all together is more than 3 million Gel and have 25 000 Gel annual income from Georgian source together.
If you want to establish the Georgian company, make your business though your company then company has to pay taxes in Georgia, but you as a physical person won?t be tax resident of Georgia.
#####
kl5340dc
2017-06-05 10:31
this information he sent is wrong
agalt
2017-06-05 10:36
@alexanderhay care to clarify?
pragmatic
2017-06-05 10:38
@kl5340dc I'm a bit confused, but if I understand correctly, you are saying that the lawyer claims you must own property to be a tax resident? But the tax book says that, another way is to have 25k georgia source income?
kl5340dc
2017-06-05 10:38
right
kl5340dc
2017-06-05 10:39
he says can't be tax resident unless own property and 25k income.
kl5340dc
2017-06-05 10:39
but the tax book says you can just as well have 200k income last three years and residence permit
kl5340dc
2017-06-05 10:57
nope never
kl5340dc
2017-06-05 10:57
lived in bulgaria 6 months
kl5340dc
2017-06-05 10:58
the tax book clearly lays out a clause for indivuals to get tax residency without needing to live there, it says right there
kl5340dc
2017-06-05 11:01
If you don't spend more than 6 months anywhere, don't own anything anywhere, avoid spending too much time in your country of citizenship, then what
kl5340dc
2017-06-05 11:03
one thing - if you ever go back to your country of citizenship, proving that you were tax resident somewhere avoids them trying to get the tax back for all the years.
kl5340dc
2017-06-05 11:03
If they ever get that crazy idea in their head, which I think with countries getting more aggressive, they may be
kl5340dc
2017-06-05 11:03
I was tax resident bulgaria for 2016
kl5340dc
2017-06-05 11:04
visiting once a year not enough to maintain tax residency in bg
kl5340dc
2017-06-05 11:04
you need to actually live there 6 months a year. I did and it was still a pita for them to accept my tax money for them.
kl5340dc
2017-06-05 11:05
And it's what you said - cheap country to live etc, but really if you travelled around, there are just much much better places.
kl5340dc
2017-06-05 11:05
no
kl5340dc
2017-06-05 11:06
you don't need all that
kl5340dc
2017-06-05 11:06
residency is easy - you just rent a place, go to office, takes 2 days
kl5340dc
2017-06-05 11:06
company tax you're not liable if company registered abroad
kl5340dc
2017-06-05 11:06
personal tax I paid 5% on dividend from company abroad
kl5340dc
2017-06-05 11:07
this is all according to the rules, yet still to accept that 5% they basically didn't know what to do with a case like mine
kl5340dc
2017-06-05 11:07
the suggestion was to forget about it and pay nothing, but I want proof for homecountry in case I ever go back that I paid soemwhere
kl5340dc
2017-06-05 11:10
for tax residency you need to have lived 181 days there
kl5340dc
2017-06-05 11:10
if not lived there 181 days, you're not liable for tax
kl5340dc
2017-06-05 11:10
so had to prove 181 days there
kl5340dc
2017-06-05 11:10
accountant handled it
kl5340dc
2017-06-05 11:11
i'm surprised too
kl5340dc
2017-06-05 11:11
considering how easy the residency was
kl5340dc
2017-06-05 11:12
eu citizen hyes
kl5340dc
2017-06-05 11:12
was approved the very next day
pragmatic
2017-06-05 11:13
@kl5340dc if you're an EU citizen, you should just do Malta residency imo
kl5340dc
2017-06-05 11:13
using rental proof of airbnb :slightly_smiling_face:
kl5340dc
2017-06-05 11:13
can't believe they approved that
kl5340dc
2017-06-05 11:13
@pragmatic yes malta looks easy, but requires 181 days living there which I don't want
kl5340dc
2017-06-05 11:13
adn I live mostly in Asia which means passport to get in/out of europe
pragmatic
2017-06-05 11:13
Ah
pragmatic
2017-06-05 11:14
I don't suppose you have a second citizenship?
kl5340dc
2017-06-05 11:14
I have actually and can get second passport, but it's weak one compared to what I have
pragmatic
2017-06-05 11:15
If you were to use that one to get in and out of Europe, would be pretty hard for anyone to say how long you stayed in Malta
kl5340dc
2017-06-05 11:32
thailand makes most sense as my plan is to live 4-5 months a year there
kl5340dc
2017-06-05 11:32
and it's territorial taxation
kl5340dc
2017-06-05 11:35
what do you mean
kl5340dc
2017-06-05 11:38
you mean visa
kl5340dc
2017-06-05 11:38
there's elite visa 15k for 5 years
kl5340dc
2017-06-05 11:38
comes at 3k a year
kl5340dc
2017-06-05 11:40
there;s education visa
kl5340dc
2017-06-05 11:40
and there's the iglu or what it's called
kl5340dc
2017-06-05 11:40
elite visa is best
kl5340dc
2017-06-05 11:41
must be 50y for retireee, i'm too young for that
kl5340dc
2017-06-05 11:41
multi-year entry visa for 5y in a row
kl5340dc
2017-06-05 11:42
the alternative is that 6 month visa with extensions, but you need to get out of country every 60days, and you need to go back to home country to apply for it. When you calculate the costs, the 3k saves flight/hotel costs plus all the hastle
jase
2017-06-05 12:05
@kl5340dc would Malaysia work for you?
kl5340dc
2017-06-05 12:07
thought about it. Program seems easy. Never been there. But been in Singapore. Too hot to live there. I'm fan of east-asia (korea/japan) except for winters (thailand) and summers (europe)
jase
2017-06-05 12:08
If you like the efficient systems of Singapore/Japan/Korea, Malaysia may not be suitable. Climate is definitely humid
jase
2017-06-05 12:08
I saw some very nice parts of Penang I'd consider
jase
2017-06-05 12:08
More and more entrepreneurs choosing Langkawi
kl5340dc
2017-06-05 12:09
yeah japan/korea humid too in summer. but spring/autumn it's perfect there
kl5340dc
2017-06-05 12:09
not too cold, not too hot, not rainy etc.
kl5340dc
2017-06-05 12:10
food good, lowest rate obesity in the world, fast internet, no crime, clean, all well organized
kl5340dc
2017-06-05 12:10
rent expensive though, esp tokyo, and they're not that friendly towards foreigners (esp korea), but hey
stoplight
2017-06-05 13:01
@brian agree..they?re pretty much the same weather?
@kl5340dc ?you can also consider the Philippines ?retiree? visa..age requirement is 35 years old and you need to put minimum of $20,000 in a bank account..in your name?if you buy a condo..you can use that same money..
kl5340dc
2017-06-05 13:02
hmmm
kl5340dc
2017-06-05 13:02
what's the catch with philippines?
stoplight
2017-06-05 13:02
Agree! :smile:
kl5340dc
2017-06-05 13:02
sounds like malaysia but only 20k
stoplight
2017-06-05 13:02
Catch is you have to treat me to some alcohol when you?re there! hahha
kl5340dc
2017-06-05 13:02
must live there?
stoplight
2017-06-05 13:03
@brian terrible food? Hmm..where do you eat? lols! :smile:
stoplight
2017-06-05 13:03
definitely high electricity costs..specially if you live in nice condos..
stoplight
2017-06-05 13:04
Wow! really? Sorry to hear that..
stoplight
2017-06-05 13:04
Oh?you definitely don?t get good western food there?or at least in the commercial places anyway.
stoplight
2017-06-05 13:05
Seems you really had a bad experience. Next time you?re around, let me know.
stoplight
2017-06-05 13:05
@harvie loves coming over..hahaha.. :smile:
maxsuur
2017-06-05 13:05
@kl5340dc as far as I know, there is no minimum stay requirement in Malta, as long as you don't qualify as tax resident somewhere else. If you're looking for something similar to that, Paraguay is a good option too
stoplight
2017-06-05 13:06
Though i?m not in Manila now?i?ll be back in the Philippines in September.
stoplight
2017-06-05 13:07
@brian well?it really depends where you stayed?where you ate..and local expats?rich or poor would have a different mindset.. :slightly_smiling_face:
stoplight
2017-06-05 13:08
Those are not the best places. :smile:
stoplight
2017-06-05 13:08
Sure, there are a lot of wealthy people there, but not necessarily the best places! haha..
stoplight
2017-06-05 13:09
Haha..ok..seems you?ve made up your mind and you?ve really had a bad experience..but I doubt it will be the same for everyone :slightly_smiling_face:
stoplight
2017-06-05 13:11
Ok will respect that..i?m not harping on anything..it?s just that I find it quite mean of you to say that?nonetheless?will respect your opinion.. :smile:
stoplight
2017-06-05 13:14
No worries! :slightly_smiling_face: ?i?m not taking offense?it?s just that the food isn?t really geared for expats where most of them congregate anyway?it?s mostly designed for wealthy locals...just like Indonesia?haha..and the nice food places are normally not on the ?tourist? map? :slightly_smiling_face:
kl5340dc
2017-06-05 13:16
residency
kl5340dc
2017-06-05 13:16
whole thing is major pita of setting up residency
kl5340dc
2017-06-05 13:16
thinking eaisiest is to get that thai visa 15k, spend winter in thailand, rent app in chiang mai whole year for just 200usd
kl5340dc
2017-06-05 13:17
total cost 5k/year, only problem
kl5340dc
2017-06-05 13:17
200usd a month in chiang mai yeah
kl5340dc
2017-06-05 13:17
i like it there, less hot than bkk
kl5340dc
2017-06-05 13:17
so 200usd a month app, then 3k for visa a year, is 5k/year
kl5340dc
2017-06-05 13:18
only problem is not considered tax resident if I don't live there 183 days
kl5340dc
2017-06-05 13:18
I rent an app last jan/feb for less than 200usd, at nimman, was perfect for my needs
stoplight
2017-06-05 13:25
@brian ?Mandarin Hotel? oh my?then it has indeed been a while since you?ve been to the Philippines I guess..Mandarin was demolished in 2014 I think?
stoplight
2017-06-05 13:26
@brian yes..it?s was an old crappy hotel?that was there since I was born! hahah :smile:
stoplight
2017-06-05 13:26
Yup..there?s only one.. :slightly_smiling_face:
stoplight
2017-06-05 13:28
Really? Never really liked it there?even if my friend used to be the Manager there?I find Shangri-la old and Mandarin really?off the times?
stoplight
2017-06-05 13:28
Well..great bands are everywhere?hahah?
harvie
2017-06-05 13:50
@stoplight I'm back again next month, not told the gf yet though :joy:. Manila is fun, can get a little getting used to. I agree the food isn't the best when you compare it to Thailand/Mayal/Singapore, but when you factor in that everyone speaks fluent English, you can flirt and make jokes with girls (c'mon on guys, that's why we're all travel anyway) which is pretty hard in Thai/Viet etc, it has it's upsides. For me after Bangkok the next place in Asia I would consider living in is Manila. You kind of need someone on the ground to show you the ropes otherwise you can end up having a not so good time.
stoplight
2017-06-05 13:51
@brian honestly don?t know if it will be on the same lot?but I know they?re planning to build a new Mandarin somewhere in the area..
stoplight
2017-06-05 13:52
@harvie hahahha..sorry bro?won?t be around?but i?m sure our ?friends? will take care of you :wink: hahah..
stoplight
2017-06-05 13:52
@brian I believe so?
simon
2017-06-05 15:37
SE Asia is quite popular here but you guys should not immediately dismiss East Asia.
HK is an amazing city in which to live in, the most efficient in the world with low taxation and right next door to nightlife that would make Bangkok seems tame. It's not as expensive as some people imagine, quite similar to places like London or NYC.
Taiwan has great food and territorial taxation, it's quite cheap too. Nice weather and cities like Kaohsiung offer the beach lifestyle that so many are looking for.
China is a world of its own and it's very easy to live there tax-free. It's a personal thing obviously but as far as I'm concerned, it has the best food in the world. Especially if you experiment and go to the countryside. The big cities like Shanghai feel a lot more developed than anything you will find in SE Asia, not just in terms of infrastructure but also in terms of sophistication. It has insane economic opportunities too.
Japan and Korea are very interesting and it's fairly easy to become a resident but taxation is a bit of an issue and it gets real cold in the winter.
kl5340dc
2017-06-05 15:42
I spent a month in taiwan, a month in korea and a month in japan this year, as well as 2 months in thailand
kl5340dc
2017-06-05 15:43
taiwan is indeed cheap, very advanced. Food is good. But it's small, can be boring. English not so good. Teh weather is also unpredictible
kl5340dc
2017-06-05 15:43
korea is bigger, food is good, rent more expensive, very advanced, not so foreigner friendly, little foreigners in fact, nightlife is insane, girls hottest of all asia
kl5340dc
2017-06-05 15:44
japan easier than korea, rent expensive in tokyo, food much better, korea/japan lowest obesity rate worldwide, more foreigners, etc
kl5340dc
2017-06-05 15:45
it seems japan has some interesting setup re residency without taxation when not spending there too much time, saw that clause about 5y out of 10y (so only 6 months a year), you would seem to avoid personal taxation. That would seem great as winter is too cold and summer too hot
simon
2017-06-05 15:47
@kl5340dc Have you been to China?
kl5340dc
2017-06-05 15:47
yes severla times. had a chinese gf for several years
kl5340dc
2017-06-05 15:47
was in shanghai in march for a week. Second time. It's nice but at the saem time feels so materialistic
kl5340dc
2017-06-05 15:47
china too chaotic for me
kl5340dc
2017-06-05 15:48
I'm in HK now
simon
2017-06-05 15:54
If you have time, cross the border into Guangdong. Great nightlife there, and amazing food.
I lived in the Shanghai area for a couple years (SH itself and the northern part of Zhejiang). The cities can be challenging, with the pollution and all, but if you go to the countryside it's absolutely great. There's nothing like finding an ancient tea house on a mountain side after getting lost in the fog and then being served local tea with the spring water.
pragmatic
2017-06-05 15:55
What's the china tax situation?
kl5340dc
2017-06-05 15:58
@simon I've been to Mount Lushan, near Nanchang. Quite nice
kl5340dc
2017-06-05 15:59
@pragmatic got a friend who lives in shanghai since almost 10y. He pays nothing. Not sure how he does with the visa, maybe marriage thing. He said china corrupt, whatever
simon
2017-06-05 16:08
To be considered a tax resident of China, you need to be domiciled there (most expats are not) OR spend all your time in the country every fiscal year. You are allowed to leave the country for up to 30 days (single trip) or 90 days (multiple trips) without losing the status.
simon
2017-06-05 16:09
So it's as easy as leaving for 31 days.
simon
2017-06-05 16:09
And maintaining residency elsewhere, Panama for example.
simon
2017-06-05 16:19
@simon uploaded a file: https://freedomsurfer.slack.com/files/simon/F5N4RSJGY/image_uploaded_from_ios.jpg
simon
2017-06-05 16:19
Took this one in Southern Zhejiang, near the Fujian border
pragmatic
2017-06-05 16:20
@simon Hmm but Panama needs 180 days for tax residency right?
simon
2017-06-05 16:22
From Deloitte: "An individual is resident in Panama if he/she is in the country for more than 183 days in a calendar year or has established permanent residence in Panama."
pragmatic
2017-06-05 16:23
Ah right. And the friendly nations program is permanent residency program?
simon
2017-06-05 16:23
Yes
simon
2017-06-05 16:24
It sounds great on paper but Panama has a pretty poor reputation. This is something that has to be considered.
pragmatic
2017-06-05 16:26
True.
pragmatic
2017-06-05 16:29
I guess if you're telling your Canadian/Australian/UK/German government your tax residency is now in Panama, they might want to look more into you. If you say Malta, or Hong Kong, they'd probably move on.
jase
2017-06-05 20:10
For real? I prefer Singapore personally. But cost wise I can see how HK could be great after spending time there and "optimising" your lifestyle.
stoplight
2017-06-05 23:06
Same with @jase ?I like HK and to some extent Macau but I enjoy SG much better except it?s just too damn expensive nowadays?I just find SG more organized overall, less crowded and the locals generally much nicer in my opinion?but that?s just me? :smile:
benjamin
2017-06-06 04:57
has joined #residency
simon
2017-06-06 08:01
HK has so much more to offer than Singapore. @jase there are even some pretty epic mountain bike trails :slightly_smiling_face:
simon
2017-06-06 08:01
Plus, HK is part of the Pearl River delta which also has tons to offer (way more than JB in any cases).
jase
2017-06-06 08:02
@jase uploaded a file: https://freedomsurfer.slack.com/files/jase/F5P40M3U3/dsc04559.jpg
jase
2017-06-06 08:03
We did some exploring, maybe I need to try it again. My limited experience was, it's cheap in some areas or insanely expensive in others. Whereas Singapore is generally in between. (re: food/drink)
kl5340dc
2017-06-06 10:20
I eat for 5usd in hk all the time. if you eat like locals it's cheaper than tokyo, sg etc
simon
2017-06-06 10:54
Yeah plenty of 40-60 HKD eats
simon
2017-06-06 10:54
Especially for lunch
simon
2017-06-06 10:55
Singapore has cheap food too if you go to the hawker centers
simon
2017-06-06 10:56
To me Singapore just lacks personality. It's bland, has no nature and its nightlife is nothing to write home about
pedrodemendez
2017-06-06 11:01
But how to get a HK resident visa nowadays? Or do you stay on tourist visa's?
pedrodemendez
2017-06-06 11:01
Investment in real estate option is gone i believe?
simon
2017-06-06 11:02
@pedrodemendez You can get residency by setting up a local business.
simon
2017-06-06 11:02
Just like in Singapore
jase
2017-06-06 11:10
Never said it wasn't cheap to eat in HK. I experienced a greater divide is all. Very cheap or extremely expensive.
jase
2017-06-06 11:11
Starbucks in HK is laughable
jase
2017-06-06 11:18
@simon have you been to Lazarus Island? Check it out next time you're in SG, very easy to get a secluded beach to yourself if you explore!
simon
2017-06-06 11:37
@jase I'll check it out next time I'm in SG ( in two weeks)
emondpph
2017-06-06 22:25
Hi everyone, new here. Thanks Simon for this great resource ! I have an issue you might be able to help me with. I am a Canadian citizen and I have been working remotely and travelling around the world for 2 years using only Tourist Visas. My girlfriend and I would now like to settle down for some time. We are looking to rent a flat in Budapest, Hungary and stay there a year or so. She is Slovak, so no problem for her. But for me, the EU visa is only 3 months in, 3 months out. What would be the easiest process in order to secure a 1-year EU Visa ? I am also open to change my residency if it?s the best way, and if I can save some precious $$$ tax money.
roman
2017-06-06 22:44
@emondpph the easiest might not be the cheapest, so be careful what you are asking :stuck_out_tongue:
roman
2017-06-06 22:44
You can get a residency for several hundreds of thousands of euros in some EU countries. But pretty sure it is not what you are looking for.
roman
2017-06-06 22:46
But tbh, I haven?t found any easy ways as a Canadian yet. But I didn?t look too hard at that yet, as it wasn?t a problem yet. But I did some surface level research. Maybe @simon has some insider knowledge, as he?s also Canadian.
yuli
2017-06-06 23:04
I am looking to do something similar as to what you are after @emondpph next year to be in EU for a year. I also have a 3 month visa.
yuli
2017-06-06 23:04
Would be curious to know what people will recommend you :slightly_smiling_face:
maxsuur
2017-06-07 04:29
@emondpph You've got options: a) citizenship through ancestry (italy or hungary), b) Marry your beloved girlfriend, c) Pay a hefty sum to the Eslovenian govt, d) the spanish entrepreneur visa program can help too
maxsuur
2017-06-07 04:29
Just some of the options that came to mind :)
maxsuur
2017-06-07 04:30
Btw, went to bratislava last weekend. So many beauties! :)
simon
2017-06-07 05:49
@emondpph If you are under 35 years old, an easy workaround would be to apply for a Czech working holiday visa. The process is obviously very easy and it can be extended to two years. Of course, Hungary and Czechia are two separate countries but given the lack of border, who's to tell where you actually spend most of your time right?
simon
2017-06-07 05:50
Not a long-term fix but for 1-2 years its as easy as it gets.
emondpph
2017-06-07 11:53
Hey @simon do you think I can apply for this Czech working holiday visa on site instead of the embassy in Ottawa ? Meaning I just go to the immigration office in Prague.
emondpph
2017-06-07 11:56
I was also thinking about applying for a temporary residency in Hungary. This would grant me a renewable 1 year visa, according to what I read. I?m not so familiar with the residency concept? Would I lose the Canadian residency by obtaining that temporary Hungarian residency ? And where would I have to file personnal income tax, Canada or Hungary ? At the moment, I?m only getting paid in dividend through my incorporated Canadian company. Thanks for all the help !
gregor
2017-06-10 15:08
has joined #residency
simon
2017-06-11 11:46
@emondpph Not sure if that's possible. You'd have to ask them directly.
danielabagnale
2017-06-12 03:10
has joined #residency
pedrodemendez
2017-06-12 08:58
@simon looked into the hongkong residency but found that the incorporation/residency can only be done when you don't claim offshore status for your company
pedrodemendez
2017-06-12 08:59
Is that correct?
ahawkins
2017-06-12 09:02
I contacted the US Embassy in here in Bangalore regarding questions about the marriage/visa options for a non-resident US citizen and my Indian girlfriend. Their response: We do not help choose the correct visa. ..... WTF?!
ahawkins
2017-06-12 09:02
wtf is the point of even advertising support for visa questions :disappointed:
ahawkins
2017-06-12 09:02
shit is absolute madness
simon
2017-06-12 09:09
@pedrodemendez Correct. It doesn't make much sense to run a HK company as a resident.
simon
2017-06-12 09:10
@ahawkins Considering there is a lot of Indian immigrants in the US, have you tried asking in the relevant Facebook groups? I bet many have used marriage visas and would know exactly how they work.
ahawkins
2017-06-12 09:16
@simon no I did not consider FB. I can look there as well. Good tip
rtiagm
2017-06-13 02:20
has joined #residency
stoneagezen
2017-06-15 21:06
has joined #residency
stolzlos
2017-06-17 08:35
has joined #residency
evl4r
2017-06-17 12:07
has joined #residency
rtiagm
2017-06-20 07:47
Has any EU citizens here obtained tax residency in Malta? I'm interested in obtaining tax residency in Malta but unsure about some details.
pragmatic
2017-06-20 08:46
Why don't you just ask your quedtion ?
rtiagm
2017-06-20 11:21
@pragmatic Well, I'm wondering what's the process to obtain tax residency there? How strict is the whole thing. Can I just rent an apartment temporarily or it's better to rent a place even if I don't stay there, just to have an address?
kl5340dc
2017-06-20 12:37
you need to have an address
kl5340dc
2017-06-20 12:38
Some countries ask for rental agreement. Some accept proof of address too (which could be a declaration from the owner that you live there).
kl5340dc
2017-06-20 12:39
for personal taxation you usually have to live x days a year there, in order to claim tax residency
kl5340dc
2017-06-20 12:39
a rental agreement and proof of montly payments etc is usually a good way to show that you lived there, and thus can claim tax residency so you don't have to pay in your country citizenship
kl5340dc
2017-06-20 12:40
for residency itself, you may not have to rent a place the whole year. Just proof you live somewhere. With a yearly visit that may be enough ot maintain residency
kl5340dc
2017-06-20 12:40
But you're unlikely to be able to claim tax residency in that scenario
kl5340dc
2017-06-20 12:41
it is usually advised when leaving your country to live in a low tax country for +6 months to get tax residency there, before travelling around. This way there's a year inbetween with a different tax residency so your home country leaves you alone afterwards. It is gray zone though
rtiagm
2017-06-20 13:26
@kl5340dc I'm already considered a non tax resident in my citizenship country. I'm now interested in obtaining tax residency in Malta and keeping it while having the lowest overhead possible. I would prefer not to spend too much time there.
kl5340dc
2017-06-20 14:17
how did you plan to do that?
rtiagm
2017-06-20 14:52
@kl5340dc To do what? Become a tax residence in Malta?
kl5340dc
2017-06-20 17:41
yes
chaostar
2017-06-20 18:43
has joined #residency
stoplight
2017-06-20 23:01
I know many of you aren?t looking at this side of the world..but i?ll share it anyway? :slightly_smiling_face:
Insider tip for those looking at options for tax free residency?met with the head of the St. Kitts Citizenship by Investment Unit earlier today?they?ll soon be offering a Residency program?.no full details yet but will be out in a couple of months?.St. Kitts has no personal income tax?wether you make money there or anywhere else in the world.. :slightly_smiling_face:
rtiagm
2017-06-21 03:35
@kl5340dc Ideally just rent a place, stay there a few months then go to the city hall, and tax office to obtain residency papers (as an EU citizen that should be easy)
fish
2017-06-21 04:59
has joined #residency
mysteir
2017-06-21 10:18
@stoplight I'm intrigued. Don't they have an actual "passport for sale" program there for around 300k as well? What's life like there in general? Is it generally a comfortable life there?
simon
2017-06-21 10:27
@stoplight Do you know if they'll require physical presence for most of the year to maintain the residency? St Kitts has nice weather and beaches but it's not the kind of place most people would be happy to spend most of their time.
pascal
2017-06-21 11:26
has joined #residency
v
2017-06-21 11:38
has joined #residency
pascal
2017-06-21 11:52
Hello, :slightly_smiling_face: Six months ago, I saw on http://FreedomSurfer.com a course that helps to get the "residence" in "South America". Is there still?
pascal
2017-06-21 11:54
I have two questions about georgian residency :
1) "Document certifying employment and entrepreneurial activity (labor contract or any other document certifying the employment)."
Source : https://www.freedomsurfer.com/georgia/
Is it possible to produce a document certifying employment and entrepreneurial activity with a non-georgian company ?
2) Do you know a mailing address in Georgia ?
mikeseo
2017-06-21 12:11
has joined #residency
clr
2017-06-21 15:04
@rtiagm When applying for residence, you will need to get this form signed by your landlord: https://identitymalta.com/wp-content/uploads/2016/04/Rental-declaration-form.pdf
clr
2017-06-21 15:05
Note how it asks for the number of residents in the property.
millnmd
2017-06-23 04:34
has joined #residency
stoplight
2017-06-23 05:13
@mysteir Yup! Their citizenship by investment program is the oldest program in the world going back to early 1980's and for a long period of time, they were the leaders in the industry. Roger Ver has renounced his US citizenship and is a citizen of St. Kitts. Sadly, competition with many other countries offering a similar program has forced the country to almost at the bottom of the list instead of being on top of it.
Just left there a few days ago. Stayed for a week. Life in a small island with barely 50,000 people and a good number of expats will be diverse. If you like to live the high life, Frigate Bay/Timothy Bay is where most of the wealthy people are and that?s also the touristy part of the island. On the other hand, if you want to live like a local, other parts of the island are cheap but you?re still barely less than an hour away from the capital of Basseterre.
Define comfortable? Because different people have different definitions of it. Living in the Caribbean is laid back, no highways, no high rise buildings, there will be lots of tourists specially when the cruise ships come in and not so much women to choose from. Work wise, you have good internet, not blindingly fast but are 4G/LTE capable. If you have money to burn, i?m sure you can get a DSL or cable. You also have various stuff available, from branded duty free shops to a Payless shoe store and US products sold in supermarkets. They have a nice movie house that has 3D and all but no IMAX, I actually watched Tom Cruise?s The Mummy while I was in St. Kitts.
If you get really bored and miss the city life, New York and Toronto are about 4 hours away. If you want to hook-up with some ?chicas?, Miami is 3 hours with daily flights while Puerto Rico is just an hour away too. :joy:
??food is diverse....because of the tourists?you get Asian, European, American and Caribbean food?sadly..the only fast food available in most of the islands is KFC?no McDonalds or any other?.which suits me fine because I love chicken! :smile: ?everything grown on the island will be organic and natural so people with some space in their backyard grow and eat their own stuff pesticide free..?..crime rates are grossly overrated and every person being shot is national news??.but me I walk around at night?.if you?ve lived in the big cities where people get shot just for traffic stops?..then living on the island is a walk in the park because they actually have strict gun laws here?..St. Kitts is actually thinking of harsher penalties?even death for gun-related homicides?..sure you can get the occasional stoned locals asking for a dollar but if you don?t mind them, say sorry and walk away?they don?t bug you anymore?.there are drugs?but mostly weed?..so fried brains are rare?the locals themselves don?t like all these chemical stuff so it?s probably the reason why they rarely have drug-related crimes?.
??overall, island life is not for everyone but so far, i?ve been here in the Caribbean for several weeks now and will be here for almost two months and i?m loving every minute of it specially because i?m pushing my best to live like a local staying away from the tourist places. :slightly_smiling_face: ?I eat where the locals eat and buy at local markets to keep my costs down?.getting around is easy because the place is small specially if you have a car but watch out for taxi?s, they?re expensive because they cater to tourists?.its best to take the local transport vans or ?buses? as they call them, they are cheap to ride on, about US$3.70 per ride??
?...i?m actually ending my trip with a visit to Trinidad & Tobago which will be much different from all the smaller islands. Not only does it have a bigger population and produces oil, it has that mixed city/island vibe to it complete with high rise buildings, tourist cruise ships and all. It?s like the Caribbean meets Singapore.
mysteir
2017-06-23 05:40
@stoplight Great post. For me comfy life means a gym where the EQ is not old and falling apart - a few good coffee shops with good wifi, healthy food available, low crime rates and good infrastructure.
The gist of my question was based on the fact I tried to setup in the Seychelles.. and the longer I spent there, the harder it became. Prices were absolute insanity (think 15@ for 2 eggs in a restau), wifi data was brutally expensive (needed 2-300@ per month of data for my working/laptop) and the locals were super lazy & generally "bad vibe". Everyone was more interested in drinking, getting stoned & easy money rather than work for a living.
I quickly realized I would not be able to spend even half of the year in a place like that, despite the fact it's beautiful, and the beaches are stunning.
Sounds like St-Kitts is better & might not be so bad to spend time there. The "straight to passport" citizenship option is super intriguing to me, but if I ever go that route, I'd like it to be in a place where I enjoy spending time.
stoplight
2017-06-23 05:41
@simon ?I can?t confirm anything as details given were scarce?we we?re just having a conversation about the UAE free zones and he inserted the discussion about the residency program?.from what I gather though is that they would require about just two months per year which could also be divided into different family members?.because what i?m thinking is that they?re still targeting rich Chinese families and competing with Malta?s residence visa program and other European residency programs?.I really don?t have much specifics yet but definitely once I do, i?ll let you know?
stoplight
2017-06-23 06:02
@mysteir Seychelles and the Eastern Caribbean islands are apples and oranges in my opinion. They may be island countries but Seychelles has a more deep African influence to it while the Caribbean has more North American/European influence. There are some common denominators because of the heritage but the small Caribbean islands have a distinct advantage because of the still very strong ties with the UK. In fact, some of them namely Antigua, Bahamas, Barbados, Grenada, St. Kitts, St. Lucia and St. Vincent are still Commonwealth realms and regard Queen Elizabeth as the head of state much like Canada, Australia and New Zealand. Other islands like Anguilla, Montserrat and the BVI are all overseas UK territories while some other islands like Guadalope and Martinique are French dependencies.
Not to sound like that I have much vested interest but getting a citizenship in one of these islands that are part of the Organisation of Eastern Caribbean States (http://www.oecs.org) is actually a good time now because they?re implementing freedom of movement similar to the EU. This means that if you?re a citizen of one island, you can freely move to the other islands and live, work, do business, etc. without anything else needed?.if you?re seriously considering fast track Caribbean citizenship and you?re alone?meaning no wife & kids..then the ?cheapest? solution would be Dominica and St. Lucia. Although I would go for St. Lucia more than Dominica because not only is their passport stronger, the country itself is a better place to live in. :slightly_smiling_face:
stoplight
2017-06-23 06:04
@stoplight uploaded a file: https://freedomsurfer.slack.com/files/stoplight/F5YC6SDFC/p_20170623_015659.jpg
stoplight
2017-06-23 11:17
@brian For a solo application, the flat government donation is $100,000 plus other fees would come up to roughly $135k-$140k depending on your agent. It takes about 3-4 months without stepping foot in St. Lucia.
stoplight
2017-06-23 11:24
Once you?re a citizen from one of the islands, you can take up residency in another island such as Antigua or St. Kitts which has more favorable tax benefits than the others as they don?t have personal income tax at all whether you make money on the island or not, no estate, death, inheritance and Capital Gains Tax either. Some islands do have territorial taxation but most if not all islands don?t have exchange controls, no restrictions on the repatriation of profits and imported capital. Take note, since there is freedom of movement, you can actually just rent some place in one of those two islands, open a bank account, show some ties, etc. etc. and be on another island or anywhere else in the world really. :slightly_smiling_face:
stoplight
2017-06-24 19:55
@brian ..yep?that?s why i?m here?learned a lot from @simon and researching for the last few years and decided to just go ahead and plant flags as much as anywhere I can in different and sometimes unlikely places.. :smile: ..was in the South Pacific last year?.Tonga and Vanuatu to be precise.. :slightly_smiling_face: ?best experience I got was going inside an ANZ bank and getting a bank account?no questions asked! :smile:
agalt
2017-06-24 20:46
you are not a ussa shitizen though @stoplight We walk around with a target on our backs and a financial boat anchor arround our neck.
agalt
2017-06-24 20:47
Im excited to hear more about ANZ. I remember hearing from you about the exciting news when you did this awhile back.
stoplight
2017-06-24 21:05
@agalt yup?in some ways i?m lucky I guess but the Philippines has territorial taxation only for foreigners, both resident-foreigners and non-resident foreigners get that lucky tax break?whereas citizens like myself get taxed for their foreign-sourced income whether we live there or not?.think FATCA for the Philippines?..so as long as I continue transacting business as a Filipino, i?m basically fcuked! lols! :smile: ?i?m thankful that they haven?t signed up for AEOI so i?m still relatively safe?for the mean time anyway?so planting a residency flag and getting another citizenship somewhere else helps me diversify things and be able to do business without the damn government being able to do anything about it now or in the future!
As for my ANZ account in the South Pacific?Tonga to be precise?well just checked my account a few weeks back..money?s still there?earned a few cents on interest?hahah..will probably be back there next year?no urgency to go back yet?.the residency and citizenship program we were planning with my local contacts there is moving slower than a turtle.
agalt
2017-06-24 21:07
you are. It seems the most logical thing many of us can do is sever ties with our former tax-slave nations. Some are worse than others. You can hold assets in berrar shares without them knowing in many places, but I and many others would simply like to follow the rules without making our lives more complicated.
stoplight
2017-06-24 21:16
@agalt definitely agree?that?s why i?m going for the smaller island countries?where the only pressure is coming from meddling countries like the U.S. and China?heck?diplomatic relations are even unheard of?.for example?.Antigua and Vietnam established relations only in 2013?..St. Lucia and the Philippines only in November last year?.and some island countries have zero relations with other countries.?.because most of the world takes these small countries for granted you actually get a different line of defense against the others..
agalt
2017-06-24 21:17
that is good. small countries are the beacons of light out there in the fog
agalt
2017-06-24 21:18
we should not have to break the rules to be left alone. I don't go back to Amerika for any reason (funerals, weddings, etc) I want nothing to do with the place. However, they stilll demand to know what you own where. I suspect this is the case for other countries as well
agalt
2017-06-24 21:20
i missed an important funeral and wedding in the last year because i refuse to go back. It is painful, and seperates you from family because they don't understand these things. Being afraid that you can not leave again is enough to keep you away often.
stoplight
2017-06-24 21:22
yup?definitely..?it is indeed a painful process??.I can?t severe ties completely because my daughter is still back home?.I still file my annual income tax returns?.to satisfy the S.O.B.?s in government?.it?s a hard long process.?
?so far smaller countries are great if you have low expectations?.admittedly there is definitely a degree of difficulty in living in places like this but if you?re looking out at a true unhampered under the radar living?well?small islands offer more than just sun, sea and sand?
agalt
2017-06-24 21:23
they are appealing, but it is hard to walk accross a land boarder in a pinch if you need to. That is the philisophical question I have with the island nations
agalt
2017-06-24 21:24
eastern europe is flexible. if you want to get out without a stamp you pay someone and make it happen or walk through the woods
agalt
2017-06-24 21:26
i worked with federal felons in the usa who talked all the time about how they just wanted to peacefully leave. well, you can't leave with a felony in the us
agalt
2017-06-24 21:27
drug crimes or beating someone within an inch of their life for hurting a woman is not something to sieze your passport for
agalt
2017-06-24 21:28
they are stuck. one guy i knew tried walking accross the mexican boarder 3x. they caught him 3x trying to leave. But they let people in without documents
agalt
2017-06-24 21:29
St. Louis, Mo USA was a really rough place, and if you didn't stand up, you got walked on. If you stand up the jack booted thugs stomp on you for fun
agalt
2017-06-24 21:30
when you peacefully try to leave, they reel you in like a fish and shout, "get back here tax slave!"
stoplight
2017-06-24 21:31
Yup! agree with you?.you?re right?island nations will be difficult to leave by foot but unlike land borders?they?re also harder to patrol?moreover the Caribbean nations have very limited resources and cannot patrol their borders properly even?.so paying someone with a speedboat to bring you to South America or Cuba won?t be a problem?.
agalt
2017-06-24 21:31
the balkans is that way also. If you have the cash you can get out by boat
agalt
2017-06-24 21:31
georgia has land and water boarders
stoplight
2017-06-24 21:32
True?but I just hope that they really rethink about joining the EU though.. :disappointed:
agalt
2017-06-24 21:32
im not whoring out georgia. Simply agreeing with you about boats and exits
agalt
2017-06-24 21:33
they wont join the EU...
agalt
2017-06-24 21:33
they have been screwed by other countries for hundreds of years, and have a really bad taste in their mouth
agalt
2017-06-24 21:35
The mentality is similar with Bulgaria. They will take money from: EU, USSA, or Russia but sometimes it dissapears and they forget how to follow the terms and conditions.
agalt
2017-06-24 21:35
it is nice to have the "free money" but those rules? what rules
stoplight
2017-06-24 21:36
I hope that they really don?t?I still want to do things there! :smile:
agalt
2017-06-24 21:37
come visit. We will go out on the town if you with with the other FS guys who are there if they are available
agalt
2017-06-24 21:40
ill be back soon. Flying out of Albania on my way there. It seems like a better option than spending time in greece on the way back.
stoplight
2017-06-25 20:15
Well?this is something new?Trump?s immigration policies is now Canada?s biggest marketing initiative? :smile: ?they might as well put up an ad and say?.?we accept techpreneurs here, fcuk the U.S.? ?lols? :smile:
http://money.cnn.com/2017/06/14/technology/business/canada-silicon-valley/index.html
gmarkey
2017-06-26 00:15
has joined #residency
roman
2017-06-26 01:25
Canada doesn?t lack talent. Most really talented people leave Canada, because wages are much lower. Probably around 50-70% of what you can get in US for the same position. The biggest problem in Canada is VCs. There is just not enough money to go around to support the talent.
roman
2017-06-26 01:26
There are a few notable names in Canada. E.g. Shopify (Ottawa based), Unbounce (Vancouver), Ubisoft (Montreal), RIM (Blackberry) (super unfashionable now, but at one point they were big) (Kitchener/Waterloo/Ottawa)
roman
2017-06-26 01:27
But overall, the startup scene is not very good.
roman
2017-06-26 01:31
I can see Montreal being a huge startup hub. It?s has ALL of the potential. It?s ?artsy?, it has good vibes, it?s young, it has 3 major universities, including McGill, which is pretty prestigious, and most importantly, abundant space for offices (old buildings left over from industrial era) AND very cheap rent (compared to nation wide).
But, of course, the government spoils the fun, as usual. Quebec has draconian language laws that nobody in their right mind would want to play by. Like having your company be totally in French, if there is more than 50 employees, everything internally must be in French, including software, and all communications. Taxes are different from the rest of the country. And many other ?funny? things they do, including dictating how your signs should be on the business.
roman
2017-06-26 01:32
But due to low wages and low overhead, a lot of US companies do outsource to Montreal. Usually the creative/advertising stuff, and Montreal has a huge gaming industry with several big players.
stoplight
2017-06-27 12:02
finally?thats out?we were expecting that a couple months back..
stoplight
2017-06-27 12:05
Antigua?s citizenship program was undermining Canada?s own investment immigration programs?the Quebec program and even some provincial nominee programs lost some business to Antigua?this is their way to combat competition in the industry more so now that they?ve adjusted and made it easier for immigrants to come to Canada.. :slightly_smiling_face:
roman
2017-06-27 12:21
Yeah, and current government, last week, lowered the citizenship requirements to before Harper time, which is now back to 3/5 years and no minimum half a year requirement.
roman
2017-06-27 12:21
Harper changed the rules to 4/6 years plus every year minimum of half year.
maxsuur
2017-06-27 13:16
I'd love to see a ranking of the most common residencies Freedom Surfer members have
dsim
2017-06-29 14:51
has joined #residency
rtiagm
2017-07-01 13:37
To obtain and properly keep Bulgarian residence, is it necessary to spend 6 months a year there?
kl5340dc
2017-07-01 14:51
no
kl5340dc
2017-07-01 14:52
but you need to provide proof of address
kl5340dc
2017-07-01 14:52
proof address is either rental contract or declaration from the owner (unless you're the owner)
kl5340dc
2017-07-01 14:52
declaration must be notary signed and joined by proof that hte person signing is the owner
kl5340dc
2017-07-01 14:52
for tax residency you need to prove you've spent six months in the country
kl5340dc
2017-07-01 14:53
for maintaining residency not
pragmatic
2017-07-01 15:48
@kl5340dc How does one prove they've spent six months there :slightly_smiling_face: ?
kl5340dc
2017-07-01 16:37
well that's up to you
kl5340dc
2017-07-01 16:38
proof of rent paid, flight tickets in/out country, paymetns made locally on recurring basis, etc
kl5340dc
2017-07-01 16:38
that's is you have no ties to the country like - owning real estate there, family living there (kid/wife/etc). That stuff make it easier
roman
2017-07-01 21:26
You can buy real estate in BG for cheap. I've seen as low as ?10,000 and really nice apartments, new for ?30,000.
millnmd
2017-07-02 03:19
can you renew the 1 year permit for five years and quality for permanent residence in Bulgaria without physical residence?
millnmd
2017-07-02 03:20
but with only proof of address for non-eu citizen?
kl5340dc
2017-07-02 08:24
the laws change, so who knows what happens in two years
kl5340dc
2017-07-02 08:24
the first year I got my residence by just showing an airbnb invoice as proof of address
kl5340dc
2017-07-02 08:24
this year they're asking for notary signed declaration plus proof of ownership
kl5340dc
2017-07-02 08:24
appearentlly the refugee thing makes them suspicious
kl5340dc
2017-07-02 08:25
there are countries where they send police to the place to check you actually live there, before residency get accepted. Maybe one day they get to that. If they have the means. Who knows.
kl5340dc
2017-07-02 08:26
Right now you need to provide a proof of address which is either rental contract or declaration of the owner (assuming you rent). And it has to be notary signed with notary act to prove ownership (or other way to prove ownership).
kl5340dc
2017-07-02 08:26
It is not simple to get that kind of paper from an airbnb host. You could rent and cancel the appartment after a few months, but you have the same issue again a year later when needing to provide proof of address again
kl5340dc
2017-07-02 08:27
Thsi is again just to get residency permit to get access to a residency card which may help if you need for example to open a bank account abroad, and they ask for proof of address. But it will not get you tax residency unless you can prove you lived there 6 months.
kl5340dc
2017-07-02 08:30
And don't believe the hype - nice places in sofia city center don't cost 30k. The deals are in the countryside where you prob don't want to live as it's too far from the action.
kl5340dc
2017-07-02 10:24
they do not check address at this time
roman
2017-07-02 13:16
My point re cheap apartments was just to get residence. You can just buy 10k place, use that as your official address. Then you are free to actually live anywhere. I'm sure most would save more on taxes just in the first year. Bonus you still own that real estate. If you buy something nice for 30k in a resort town added benefit is that you could probably rent it out.
kl5340dc
2017-07-02 13:23
yes and you'd qualify for tax residency even without 180 days in that case
kl5340dc
2017-07-02 14:09
I don't know about non-eu
kl5340dc
2017-07-02 14:10
for tax residency they look at center of vital interests. ties etc. And bulgaria considers property a strong sign of that.
kl5340dc
2017-07-02 14:11
eu people don't need to own property for residency - check their website, it's written what is needed
kl5340dc
2017-07-02 14:13
for tax residency it's usually the same everywhere - if you do not spend 180 days there, then they look at where your interests are. This usually includes family (married a local, kids, parents live there, etc), owning property, local employments, investment, etc.
kl5340dc
2017-07-02 14:17
this in bulgarian, the application form is there
agalt
2017-07-02 17:44
(joking here) Maybe we are doing things wrong... How much do Syrian passports cost? Maybe we should be buying those and applying for asylum to get our residency. Being white and owning companies might count against some of us: http://www.zerohedge.com/news/2017-07-01/and-country-receiving-most-asylum-applications-world
yuli
2017-07-03 02:15
If I would be looking to get some kind of residency in EU, so I'll be able to travel for a while in EU countries (looking at ~1 year or so at the moment), without having to spend a lot of time in the country necessarily I am obtaining the residency, which country/path would you choose?
maxsuur
2017-07-03 07:22
There is some czech residency as far as I remember. Borders are pretty loose in Europe too
rtiagm
2017-07-03 09:50
@roman You mention good apartments for 30k, is that your personal experience or have you seen it online? Also, how much is the Bulgarian property tax? Personal income tax is 10% as far I can tell (probably more with social tax)
rtiagm
2017-07-03 12:14
@brian That's interesting. Is that only for people that work and live there? Why is Bulgaria mentioned as a good option for residency for digital nomads?
roman
2017-07-03 12:17
@rtiagm I've looked at listings online, but also have heard personal accounts from 2 people.
rtiagm
2017-07-03 12:38
Where would you guys recommend to setup residency? I've been looking at Malta and Bulgaria so far. Someone mentioned Paraguay...
rtiagm
2017-07-03 12:45
EU citizen
rtiagm
2017-07-03 12:46
What's the difference between Bulgaria and Malta? Malta seems a better option.
rtiagm
2017-07-03 12:48
I can see that the cost of living in Bulgaria is cheaper but in there I have to pay 10% tax and rent a place. In Malta I can rent a place the whole year and only pay taxes on remitted income.
rtiagm
2017-07-03 12:55
That's pretty amazing. Are you still doing business in Bulgaria?
roman
2017-07-03 13:45
@brian FWIF in Canada they also make me go in person to close bank accounts. I went a couple of weeks ago, waited 15 minutes in line. The teller was vastly incompetent. Was running back and forth to talk to the supervisor. Eventually she told me she has to call the support line herself and asked me to sign a paper saying I give her permission to talk on my behalf. She basically called the same general support line anyone would call. She said she was going to just email me when it?s all done and closed. I probably spent another 20 minutes at the teller. 5 business days later I got an email saying it was done. And this was Scotiabank! Major bank!
roman
2017-07-03 13:45
I feel like banks in general are just sooooo behind in everything :slightly_smiling_face:
roman
2017-07-03 13:46
Nah, they didn?t do that. But even the first part is enough for me to be grumpy about :smile:
roman
2017-07-03 13:46
Yeah yeah. I was just saying. That even in developed countries banking is all messed up.
roman
2017-07-03 13:47
I?ve never had a positive experience with a bank in any country :smile:
roman
2017-07-03 13:48
That?s terrible.
roman
2017-07-03 13:48
Is it not possible to use something like N26? Or did you need local bank to pay out to your employees or something?
agalt
2017-07-03 14:48
Bulgaria is good for many things. There is a lot of miss-information about taxes there. So much of it depends on your situation. It is a great place of residence for some, and for others it does not work.
agalt
2017-07-03 14:49
Bulgaria allows foreign ownership of companies, and your company could be owned by a us corperation that is a pass through tax entity. You would not necessarly need to own the company and a salary could be paid to you as an employee.
agalt
2017-07-03 14:49
@globalconsulteurope would know more about this since he is an attorney in Bulgaria.
agalt
2017-07-03 14:51
the requirements to live in bulgaria for your residency are very flexible as they are in Malta, and The Republic of Georgia, and many other places
agalt
2017-07-03 15:21
why wouldn't you? If you were American or an EU citizen and you needed a tax residency, but you also had income from other sources: Asia, South America, and the US for instance...
agalt
2017-07-03 15:22
you would need a tax residency: (pick one) Malta, Bulgaria, Georgia, etc
agalt
2017-07-03 15:22
then you have your us company or 2.
agalt
2017-07-03 15:22
what bulgaria does not see does not hurt them
agalt
2017-07-03 15:22
i think you are missing the point here. Ill lay it out with a picture in a mind map
agalt
2017-07-03 15:23
a bulgarian company does not have to do business in bulgaria
agalt
2017-07-03 15:24
ING bank in romania was happy to open accounts for Georgian, and Bulgarian companies
agalt
2017-07-03 15:24
your right. this is why I am sitting in Tbilisi, Georgia right now.... BUT the point is: Bulgaria and Malta work for some people
agalt
2017-07-03 15:25
Bulgaria works if you do it right. If you get bad advice from a bad lawyer you end up paying all of your taxes in bulgaria
agalt
2017-07-03 15:26
the point in bulgaria is paying enough taxes to get them to stop bothering you. The other money can come from companies that are owned by trusts and Georgian JSC companies which are private in a sense
agalt
2017-07-03 15:27
No. It may not work for you, or myself, but this does not mean that it is a bad option for some people
agalt
2017-07-03 15:29
this is stuff you have your lawyer do for you. why do you run arround and sweat when you can just pay someone to fix it?
agalt
2017-07-03 15:34
i paid a bad one in Georgia orrigionally (you and others have heard this story) Now, I was lucky to find one that was competent. However, this person and others won't help people who refuse to listen.
agalt
2017-07-03 15:34
there are some things to pay for and some things to do yourself.
agalt
2017-07-03 15:35
regarding Bulgaria: no, no, no to your questions
agalt
2017-07-03 15:36
some people have an emotional need to be a tax resident of an EU country. I don't understand it, but it works for some people to have payment options, etc.
agalt
2017-07-03 15:36
there is no magic bullet out there. It boils down to what your needs are and we all have different needs
agalt
2017-07-03 15:37
i don't know. That is a question for someone else
kl5340dc
2017-07-03 18:31
Bulgaria you can own company abroad and thus pay nothing. Then you pay yourself dividend and pay 5 percent on that (if you live there 183 days).
kl5340dc
2017-07-03 18:34
you can own a company abroad. It's not considered tax resident if the company is setup abroad. Read the pampflets. You thus pay zero if you for example own a hong kong company
kl5340dc
2017-07-03 18:35
you do not have to pay yourself a salary, you can pay yourself a dividend. That is 5 percent
kl5340dc
2017-07-03 18:35
so effectively 5 percent of your dividend which you decide how much you'll pay yourself out
kl5340dc
2017-07-03 18:36
add cost for rent and living there 6 months - it's cheap place to live, cheaper than malta, weather just as good
kl5340dc
2017-07-03 18:37
Bulgaria is eastern-europe though so they have that ex-communist mindset of why do I need to give you good customer service, we're all paid the same anyway. That's cultural thing. The service is indeed in general not good and can come over as rude. It's good to experience. Get tough.
kl5340dc
2017-07-03 18:37
Malta residency seems much harder, and it seems like they'd mingle in your company owned abroad etc. Bulgaria doesn't care about what you own abroad.
kl5340dc
2017-07-03 18:37
It is simpler and cheaper
kl5340dc
2017-07-03 18:39
please shutup about georgia. It's 10k to setup, all complicated stuff to setup locally, bla bla. And I doubt it's any better to live than bulgaria. Can just as well do it in bulgaria for a digital nomad who plans to travel around and not live there.
pragmatic
2017-07-03 19:02
@kl5340dc How does Malta seem harder?
pragmatic
2017-07-03 19:03
and foreign earned income not remitted to malta is not taxable
maxsuur
2017-07-03 20:03
I believe weather in Bulgaria is a lot harsher than Malta's, especially in winter
kl5340dc
2017-07-03 20:04
bulgaria does not care at all if you own company abroad. Malta seems different
agalt
2017-07-03 20:04
:slightly_smiling_face: i like the winter in Bulgaria. It keeps you hard mentally and physically.
kl5340dc
2017-07-03 20:05
bulgaria winter is quite cold yeah, short and cold and snow. I heard malta is not that great winter though - wet with apartments not well isolated. But who cars, if tax residency you only need to live there in the summer which is basically sun almost every day in bulgaria
kl5340dc
2017-07-03 20:05
one thing not mentioned here is that bulgaria has very good interent, one of hte fastest in the world
agalt
2017-07-03 20:06
yep :slightly_smiling_face: it is a nice place. Many good options exist in the Balkans
agalt
2017-07-03 20:08
It depends who you go with, what you need in the future from that lawyer, and the business relationship you are trying to establish locally
pragmatic
2017-07-03 21:08
@kl5340dc what do you mean exactly by malta aeems different?
pragmatic
2017-07-03 21:09
in what way would foreign owned companies be affected ?
alexanderhay
2017-07-04 06:18
hehehehehe...
kl5340dc
2017-07-04 08:20
For sure not for EU citizen, and the people asking are eu citizens. Bulgaria you walk to the immigration, with 5 docs, And you got your residence. You can do that yourself. Cost is 10.5 leva. Done. You don't need to setup company in the country. They don't ask anything about the company you own abroad. 5% tax dividend if you live there 6 months and done.
pragmatic
2017-07-04 09:23
pay wall...
max
2017-07-04 13:27
@pragmatic posted a screenshot of this on #taxation
mattbellme
2017-07-04 13:34
has joined #residency
jemmasta
2017-07-04 13:56
has joined #residency
max
2017-07-04 14:22
Back to residency. My last day of my second visit in Panama City, flying back to EU this evening. Mission accomplished - I am officially now a ?Permanente Residente? and I love how that rhymes. I will use this exact spelling in my letter of tax resignation in Europe, lol
max
2017-07-04 14:33
My lawyer filled with immigration to get my cedula which I am told upon receiving in a month or so can also later be used as tax ID number, if I apply for it. Here is a breakdown of what the cedula is and what it allows you to do: http://www.panama-guide.com/article.php/20041019142508902. But that?s not the end of the story: as I like to keep my options open, during my visit I have spoken to a number of other law companies around here and a new thing came up on the horizon - the ?tax residency certificate?, which apparently panama can issue and can renew on yearly basis. My friend Michael from Israel who is here with me doing the residency is particularly interested in this as it is harder for him to escape tax liability in his come country and he wants a proof of having paid taxes. Now that was a background, here comes a question: being a permanent resident in Panama and not falling into any of automatic residency tests in the UK or any other EU country (183 days, etc..) should I be concerned about this tax certificate? None of the people I have met here, meaning expats with Panamanian residency had it. So I am a bit puzzled specifically because the tax residency is a bit of a effort to renew
max
2017-07-04 14:40
@brian i did not count all the money, but the lawyers will cost you anything from 4-6 k USD. My biggest expense was not monetary, it was more of an unnecessarily committed time to staying and waiting for my lawyer to do their thing and time flows differently for them - at least in this company With a different law firm I was told I could had done it all in a day or two instead of over a week.
millnmd
2017-07-04 15:13
I'm a Canadian, I was looking into getting a Long Term Residence Permit (EU Citizenship Lite) because it gives limited Free Movement in EU (everywhere except EFTA countries and Ireland/Denmark). and Best of all I wouldn't have to prove I'm not a Resident and and stay away of what every countries I'm a EU citizen of. Also I don't want to have to spent time in that country if i can get away with it either allowed or hush hush allowed with methods above (friend signing declaration proof of address). My main method was try to get Montenegro PR by geting a temporary Resident permit renew for 4 y get PR 5th Year and there is no requirement to stay in country aslong as you pay minimum tax 135eu + accounting fee if you don't want to have to do any thing. this one is good because when I get the PR I will be grandfathered in when it becomes a EU country and would have limited free movement. I can then take advantage of Malta tax residency, or Georgia tax residency and live in two boarder cities in Eu and Spent 5 months in each vacation for 2 months lol. Montenegro is a hands off plan and I have to wait for them to join EU(All countries that join eu after 2003 implemented Long term Resident Free movement Directive 2003/109/EC)
millnmd
2017-07-04 15:13
with accounting fee its 200-250 month euro for montenegro temp permit.
millnmd
2017-07-04 15:16
but you have to go back to renew every year, if returning to Bulgaria every year to do the same but with a extra step of getting a Declaration of some one who owns a property. then it might be possible.
millnmd
2017-07-04 15:24
Montenegro Is the safest beacuse they allow you to not live in country (Only for business owners) as long as you pay tax. but who knows how long it take for them to join EU.
pragmatic
2017-07-04 16:13
@max are you going to spend a lot of time in Panama?
pragmatic
2017-07-04 16:15
@millnmd Can you link to some information about the Montenegro residency? And not being required to spend time there?
max
2017-07-04 16:18
@pragmatic I need to meet the requirements of the residency which is a visit every 2 years. I like the country side more than I like Panama City, so maybe a holiday trip to Boca or San Blas, other than I do not have any immediate plans to live here
pragmatic
2017-07-04 16:18
@max What is your original country/country of citizenship?
max
2017-07-04 16:18
Poland
pragmatic
2017-07-04 16:20
The certificate is probably a good to have, especially if you don't have strong pies to Panama. I don't know anything about Poland in particular, but some countries that you've left may ask after a few years to prove you've moved somewhere else permanently. And if you can't, they would want to tax you for those years.
millnmd
2017-07-04 17:22
@pragmatic Foreigner Act of Montenegro, there isn't any guides or articles to look at just the legislation. there is a requirement that you can only leave for 30 consecutive days or 90 if you have a reason for all temp permits for house ownership, family, etc EXCEPT for Business Owners who are employed (there is a labor market test for anyone who isn't Director) as Director, there are alot of people who are expats there and don't work. other Balkan countries allow the same thing like Albania and Bosnia. Serbia says you can only leave of 6 month at a time or 10 all together but a friend told me serbia don't do exit stamp most of the time (depends on the officer).
millnmd
2017-07-04 17:23
contact accounting companies, they do one stop shop solutions for Montenegro PR.
millnmd
2017-07-04 17:23
just have to visit annually.
kl5340dc
2017-07-04 18:19
I checked panama as well. From what I understand you do need 180 days to be there to be tax resident
kl5340dc
2017-07-04 18:20
the tax residency thing seems to generally come down to staying there 180 days. This is problematic for digital nomads. It's either that or creating ties by setting stuff up in that country (business, real estate, etc) But that opens its own problems
kl5340dc
2017-07-04 18:22
It depends on which your home country is. Some more aggressive than others before they let you go. One thing I heard quite a bit is for hte first year for real living in a place for 180 days that's low tax, pay something there, get proof it. Then leave that country while remaining residency. So now you no longer have the tax residency, but at least there was a gap before you left where you paid there. After that it's gray zone "I was travelling"
kl5340dc
2017-07-04 18:23
I thnk eventually you'll have to choose a place and settle down to avoid issues. But as of right now, and depdending of your home country, you could do this for 2-3 years travellgn around to decide what place you actually like to settle down in before commiting. That's my thinking
kl5340dc
2017-07-04 18:25
This has obvious risks if you decide to go back to your home country later, or if laws changes (likely). So you have to assess for yourself.
marc
2017-07-04 19:02
has joined #residency
millnmd
2017-07-04 22:07
@kl5340dc I though it was possible to get tax residency in panama with residence for PR without residency just ties like a idle company, phone bills, etc?
pragmatic
2017-07-04 22:13
@kl5340dc Actually for Panama if you have a permanent residency, and spend just one day per year, you are considered a tax resident: https://www.freedomsurfer.com/panama/
pragmatic
2017-07-04 22:13
Whether your original country will accept you having a tax residency somewhere you don't actually spend any time though - that's a different matter.
stoplight
2017-07-04 23:06
@millnmd ?sounds like a great plan?just a bit complicated though?the annual travel to Montenegro is a bit of a bummer but if it costs that cheap?then its worth it?I wonder when will the EU officially accept Montenegro..
millnmd
2017-07-04 23:07
@stoplight the president is saying 5 years
millnmd
2017-07-04 23:08
one of my fears is if they join to quick before one gets the PR and the change there laws to be EU complacent.
millnmd
2017-07-04 23:09
but there is a chance you get grandfathered in and they say only new applicants abide by the new rules and we use the old one
stoplight
2017-07-04 23:10
that?s a bit of a risk there?and 5 years is a bit too long too.. :disappointed:
stoplight
2017-07-04 23:11
By that time..I would think Georgia would be in the EU already?
millnmd
2017-07-04 23:13
yeah maybe but for stability they might try to get all the balkans first
stoplight
2017-07-04 23:15
Still..Montenegro is a great place to plant a flag..
millnmd
2017-07-04 23:15
but for PR in EU most western countries have some requirement to spend some time in a 5y period in order to maintain residency. eastern eu countries don't have that problem
millnmd
2017-07-04 23:16
yea Montenegro has some great beaches
millnmd
2017-07-04 23:18
never went but the videos are amazing. also there isn't much competition from what I can read in their market for everything condos, stores, etc.
mescos
2017-07-04 23:41
@max - Is there any specific reason why you need the tax residency certificate for Panama? Usually you only need the actual tax certificate if it is requested by a third party or if it is a legal requirement to do something or obtain something. For example: a bank (to open an account or confirm there are no reporting requirements for the customer), a corporate service provider or shareholder registry (i.e. if they require you to prove tax residency), a government or tax authority outside of Panama (i.e. your home country says that you need show proof that you are tax resident somewhere else before they will declare you a ?nonresident?).
kl5340dc
2017-07-05 04:33
good article residency process 2017 bulgaria for eu citizen - https://www.ruskov-law.eu/bulgaria/article/long-term-residence-permits-in-bulgaria-for-eu-citizens.html (I don't know that firm)
globalconsulteurope
2017-07-05 05:58
It is prestigious bulgarian-german law firm. You will get your job done but on western europe attorney fees
rtiagm
2017-07-05 06:17
What are the advantages of picking Bulgaria instead of Malta? Assuming you don't want to create a company in either country and are an EU citizen?
globalconsulteurope
2017-07-05 06:45
For residence of non-eu citizens lawyers work is of great importance. It is required to have properly established TRO or company
globalconsulteurope
2017-07-05 06:46
As for EU nationals residing here they can manage the application on their own, of course laywers presence at migration office speed up the process a little bit
globalconsulteurope
2017-07-05 06:57
Yes, new requirements are published by BCCI. I am going to publish them translated soon.
kl5340dc
2017-07-05 07:37
Bulgaria considers companies registered abroad with no permanent establishment in bg, non tax-resdent. So you effectively pay 0 if you for example have a company in hong kong. They do not have that mind and management rule like in many other countries.
kl5340dc
2017-07-05 07:38
That means there's zero work required in BG for that company you own abroad.
tkrunning
2017-07-05 11:18
clr: That?s if you apply for one of their residency schemes. If you just move there as an EU citizen you don?t need that form. You?re not even submitting an application, technically just a registration form?it?s your right to be a resident as long as you can support yourself.
tkrunning
2017-07-05 11:38
@kl5340dc But if you actually spend time working on the business while in BG I assume that might qualify as having a PE there, no? At least if you spend a large part of the year in BG and don?t have other employees where your company is registered. But I guess they probably wouldn?t check or look into it too much anyway.
tkrunning
2017-07-05 11:46
As for Malta, this is what Deloitte writes:
?A Malta resident and domiciled company is subject to tax in Malta on its worldwide profits, with credit granted for most overseas taxes. A company incorporated in Malta is considered both ordinarily resident and domiciled in Malta. A company that is resident or domiciled, but not both ordinarily resident and domiciled in Malta, is subject to tax in Malta in respect of Malta-source chargeable profits or gains and in respect of foreign-source chargeable income (not gains) to the extent such income is received in/remitted to Malta. A company that is neither resident nor domiciled in Malta is only chargeable to tax in Malta on Malta-source chargeable income and gains.?
Basically it?s remittance and source based taxation also for companies (like for non-dom individuals), as long as they are not both resident and domiciled in Malta (e.g. being incorporated there).
pragmatic
2017-07-05 11:48
@tkrunning What I wonder is how "source" works if your business is online consulting for example
tkrunning
2017-07-05 11:53
Source is where you perform the work
tkrunning
2017-07-05 11:57
If you are doing online consulting for a client in e.g. the US while you are sitting in a cafe in e.g. Malta (or Bulgaria, or Panama or whatever), then the latter is generally the source.
tkrunning
2017-07-05 12:01
Although most countries won?t tax you for replying to some emails while on a week-long holiday, technically that is still work performed in the country and generally taxable in the absence of a DTA. In practice it rarely works that way, of course. Some countries have official minimum time requirements before they legally can tax work performed by non-residents for non-local employers, but many (most?) countries don?t have any official legislation like that, but in practice just let it slide.
janemac
2017-07-05 12:10
has joined #residency
max
2017-07-06 12:46
@mescos I do not think I need it, but down the road some jurisdictions might ask for a proof that you have paid taxes somewhere.. This is possibly the case with my friend from Israel who stated that he is a bit paranoid about this, he owns rental properties in Haifa there and plans to return there in a few years. The Israeli authorities are very thorough about taxes and in many aspects things simply work differently there than in EU.
max
2017-07-06 12:59
I just had this thought, if Elon Musk lands on Mars and decides to live on it, how could he become a resident of it?
max
2017-07-06 13:01
Assuming his efforts are non government based and privately funded could he establish a society / nation there independently of his country of origin?
max
2017-07-06 13:01
Just a thought :wink:
maxsuur
2017-07-06 13:02
On the blockchain I guess :)
agalt
2017-07-06 15:14
The financial barrier to entry on Mars is much greater than residency on earth. With this in mind, the ideas and quality of the residents would be better according to some. It is difficult to disagree with his claim that direct democracy would be an appropriate solution.
max
2017-07-06 15:19
@agalt ?The financial barrier to entry on Mars is much greater than residency on earth.? - I would think so too :wink:
max
2017-07-06 15:19
lol
agalt
2017-07-06 15:20
Unless we are talking about volunteers for "crash test dummy" status :D
max
2017-07-06 15:22
@brian I guess I have not done enough reading on Musk, what you are saying is news to me, can you share some more light, link, src??
max
2017-07-06 15:23
OMG, some academics are already seriously thinking about taxing Mars: https://www.space.com/29095-space-taxes-mars-colonists.html
max
2017-07-06 15:24
haha
max
2017-07-06 15:24
?How does the current tax system apply to profits made in space?
The U.S. employs worldwide taxation, but this could more accurately be called ?pangalactic taxation,? Chodorow said. Even astronauts have to pay taxes. During NASA?s Apollo 13 lunar mission in 1970, astronaut Jack Swigert, who was originally part of the backup crew, ended up in space on Tax Day having not filed his taxes. He applied for an extension and received one, before a serious malfunction caused the crew to abort their moon landing and get back home safely.?
max
2017-07-06 15:26
@brian I did not know the numbers, but I see your point now
max
2017-07-06 15:28
that?s true, at least for now
max
2017-07-06 15:30
I fell the same way, many of us here no doubt
max
2017-07-06 15:39
We should to stop musk from creating another evil empire, let?s start a Republic of Mars and claim the territory to ourselves. We can easily travel between the planets on light beams, same way kevin spacey did on k-pax. We could issue visas, residency statuses, tax certificates, mine marscoins. And given the value of the benefits we could charge a bit for it as well :wink:
max
2017-07-06 15:39
vi paypal, lol
pragmatic
2017-07-06 15:50
@brian wah wah subsidised car, only because of those subsidies were Electric, environment saving cars able to push forward so quickly. The subsidies will end soon, they helped push the tech enough so that it's affordable
pragmatic
2017-07-06 15:52
If you are claiming that 98% of climate scientists are wrong, there's no point for us to get into a discussion
stolzlos
2017-07-06 18:42
if it were not for people like musk we would be on mars already since 200 years. The guy is just a criminal. I had so much respect for the guy. What a disappointment.
pragmatic
2017-07-06 18:55
had? What changed?
clr
2017-07-06 23:46
At some point the people in Mars would do a "Tea party" and claim their independence, like the American colonies did.
max
2017-07-07 13:13
?Russian billionaire?s plans for a floating nation in SPACE called Asgardia (which could be used as a tax haven) take a step closer to reality with launch of maiden data satellite later this year?
simon
2017-07-07 14:07
@max I hope a personal visit isn?t required to open a bank account :stuck_out_tongue:
maxsuur
2017-07-07 14:19
I am befriending Elon soon haha
alexanderhay
2017-07-07 14:30
I think something more down to earth would be easier. http://www.findafreecountry.info/is-a-floating-micronation-possible
stoplight
2017-07-07 21:11
We?ve discussed these projects in our own internal forum at Liberland?and it?s fascinating to see how some people are seriously pouring money into these otherwise ?out-of-this-world? projects?aside from Elon of course..
stoplight
2017-07-07 21:15
When I signed up to represent Liberland last year, I never imagined how micronations would survive in these world of geopolitics and globalization?but more than a year later?Liberland is now an observer member of the Unrepresented Nations and Peoples Organization (UNPO) which include current notable members Kosovo, Somaliland and Taiwan and former members who are now UN-recognized include Georgia, Estonia, Palau and Latvia among a few others.
stoplight
2017-07-07 21:18
So it may be a far flung idea right now but with what?s going on around the world, an increasing number of displaced people and people who are not too happy with their own country, projects and programs like this may soon become a reality. Cryptocurrency has been a driving force for Liberland?folks such as Roger Ver have committed an undisclosed amount of money to date but has also mentioned in certain events to Liberland government reps that he is committing at least the value of $10 million in Bitcoin to build the first building in Liberland?
maxsuur
2017-07-07 22:08
Wow. All of this reminds of me of the content of this book: "The Sovereign Individual" @stoplight worth a read
agalt
2017-07-07 22:12
thanks for posting this @stoplight This is indeed good news. How does entrance and exit work currently in Liberland. I pass through Croatia and Serbia frequently. Stopping by may be of interest.
stoplight
2017-07-07 22:38
@maxsuur ?thanks! ?oh..I should look up on that and grab myself a copy?
stoplight
2017-07-07 22:53
@agalt ?well..there?s still a lot of politics involved?the Serbian government basically ?doesn?t care? about Liberland so much so that they have actually stamped the diplomatic passport of some Liberland government people passing through Serbia?now Croatia on the other hand has been ?harassing? anyone and everyone wanting to visit Liberland even putting them in jail for ?illegally crossing international borders??using Police patrol boats to go after anyone who lands on Liberland?s shores through Croatia?this of course has been a struggle to construct anything on Liberland itself?the solution Liberland has done has been to rent some houses on both countries and use them as launchpad for activities. They recently also purchased medium sized boats to use as base of operations for future affairs happening along Liberland waters..there is a pending court case in Croatia filed by some people who were ?caught? crossing borders to Liberland from Croatia?.but this is on a current stalemate because the Croatian government can?t or won?t define its borders because it will be like agreeing to Serbia?s claims which they won?t do?.so there?s a big lull now?Croatia continues to ?protect? its borders according to international law?but in essence is really preventing anyone to do anything on Liberland which prior to the founding of Liberland, there was really no interest in this tiny uninhabited island?suffice to say?tourism has increased on both Serbian and Croatian side because of people wanting to visit Liberland?even the local governments have said this but they won?t dare state official support for Liberland because it would put them in hot water?overall?Liberland has positively increased business on both sides of the border but neither countries have ?officially? recognized the country..Serbia has ?de facto? recognized by saying that it doesn?t care that Liberland is there while Croatia?s patrolling of this ?unknown island? is like saying they don?t know what?s there but it?s not their land! Lols! :smile:
stoplight
2017-07-07 22:57
An article written by someone from the University of Chicago Law School explains the legal mumbo jumpo in Liberland?s unprecedented case in international laws?and suffice to say?nothing of this sort has ever happened before in world history?lols! :smile: ..read it here..
http://chicagounbound.uchicago.edu/cjil/vol17/iss1/10/#.V5geJ1uVcss.twitter
stoplight
2017-07-07 23:03
Now, the question remains..is Liberland a country or not. If you would ask Mr. Ivan Pernar, a member of Croatia?s parliament and a strong supporter of Liberland, it is a country and he wants to live there. If you ask Gov. Gary Johnson of the Libertarian Party last year, he officially stated that he would recognize Liberland as a country if he was elected President and many more diplomats, officials, big name business people, etc. have ?recognized? Liberland but has any UN member country ?officially? recognized it?no?.because no one want?s to be the first?hahaha?although there has been talk that some African countries were willing to do that in return for ?recognition support??lols! :joy:
agalt
2017-07-07 23:15
Interesting. Sounds like the usual bs from Croatian authorities. I like the people there, however the officials are, hmm, how do we say it "difficult" sometimes.
stoplight
2017-07-07 23:18
@agalt ..yes most definitely?much much BS?and we just can?t believe how much resources the Croatian government is using to prevent people to cross to Liberland..from zero patrol boats several years ago to 4 boats now patrolling this tiny area?hahah?for a small parcel of empty uninhabited piece of land that according to them?is not theirs?this is a lot of resources and manpower spent? :joy:
pragmatic
2017-07-07 23:19
haha @stoplight I love Ivan Pernar
pragmatic
2017-07-07 23:19
I'm very surprised someone outside serbia/croatia knows of him
agalt
2017-07-07 23:19
Pula, Croatia used to belong to Slovenia. Some of my Slovenian friends have property there, and as usual the people are cool, but the authorities drew new imaginary lines on the map. Their properties are in a different country than they bought them in
stoplight
2017-07-07 23:21
@pragmatic ?well..he has been put on the spotlight for his statement of support for Liberland during one of the sessions of parliament with other MP?s just saying some nasty words about him with him ending up being kicked out of the session?.hahaha?
pragmatic
2017-07-07 23:21
fair enough
agalt
2017-07-07 23:26
Croatian authorities are strange...
agalt
2017-07-07 23:28
There is a large oil drilling deal off the coast of Croatia with large US influence. Maybe their stance on liberland was influenced by us authorities?
stoplight
2017-07-07 23:30
@agalt if you would be able to watch a documentary made by a Liberland supporter?some families that actually own land in other disputed Serbia/Croatia land welcome Liberland because it has helped a direction for them?
https://laughingsquid.com/freedom-for-liberland-a-short-documentary-about-a-small-micronations-fight-for-recognition/
stoplight
2017-07-07 23:30
I don?t know if the US is playing any part in Liberland but its really mainly Croatians who are against this?
stoplight
2017-07-07 23:31
Liberland government reps were actually at Trumps inauguration?they actually had an invite thru someone who was close to Trump?s team..
agalt
2017-07-07 23:32
I'll take a look. That area of the world has great people, but really stupid politicians.
stoplight
2017-07-07 23:32
As for Trump recognizing Liberland?that is highly unlikely?but hey..the man is crazy..you never know..hahahah.. :smile:
agalt
2017-07-07 23:33
Maybe he is the good kind of crazy. I don't know, nor do I vote.
stoplight
2017-07-07 23:33
Haha..well..one thing?s for sure..he?s really shaking up things around the world.. :smile:
agalt
2017-07-07 23:36
Yep. He backed out of a large hotel deal in batumi, Georgia (on the black sea coast) right before the election. Something about people crying due to implied putin love.
agalt
2017-07-07 23:39
Putin and trump both have balls, and I can respect that.
stoplight
2017-07-07 23:40
yup agree?the Putin-Trump meeting earlier at the G20 was awkward and entertaining to say the least?
https://www.theguardian.com/world/live/2017/jul/07/g20-summit-trump-and-putin-to-meet-as-world-leaders-gather-in-hamburg-live-coverage
agalt
2017-07-07 23:42
It's a lot different than a guy who wears "mom jeans" sitting down with putin, and the conversation starting off with putin saying : "listen you little b......"
stoplight
2017-07-07 23:45
hahaha..yeah! Pissing contest 101 and Putin wins hands down! :smile:
pragmatic
2017-07-08 10:51
@stoplight Wanted to share this yesterday... Ivan Pernar about Croatia's EU and NATO membership: https://www.youtube.com/watch?v=4QBgbucKnGU
stoplight
2017-07-08 15:15
@pragmatic ?yup he?s been known to be very outspoken! :smile:
roman
2017-07-08 16:14
That YouTube channel belongs to Boris. He now lives in Canada and he's a documentary film maker. He has two docs out The Weight of Chains 1 & 2 describing the conflict of Yugoslavia and NATO involvement. Both are great and fact based films. He's working on the 3rd part right now. If you like that kind of stuff, please donate to him.
rtiagm
2017-07-09 14:54
I just read the following about Cyprus "In Cyprus where we live today, I pay no tax on foreign income as long as I am outside Cyprus borders more than 90 days per calendar year." and "As we now are tax residents in Cyprus I should normally pay my tax here, but because of the special tax scheme Cyprus has for workers who work for a non-Cyprus company and work outside Cyprus for more than 90 days per calendar year I pay no tax or social contributions".
rtiagm
2017-07-09 14:54
Is anyone familiar with Cyprus as a residency option for EU citizens?
etperth
2017-07-13 08:16
has joined #residency
jsimps28
2017-07-13 10:09
has joined #residency
archivebot
2017-07-20 07:22
has joined #residency
etperth
2017-07-20 13:53
Hey Guys,
I'm considering to move my residence to Malta as it seems very very attractive for EU citizen. I wanted to have some more information.
Do we have to stay at least 183 days in Malta to be a tax resident there ? If yes, how can they control how many days we are staying in Malta as there is probably no identity checked if we go to another European country for example.
Then, by being a resident there we do get a tax certificate right ?
Thank you for your help !
kl5340dc
2017-07-20 13:56
@simon should create a faq about this
kl5340dc
2017-07-20 13:56
there's residency and tax residency
kl5340dc
2017-07-20 13:57
residency you do not have to live 183 days in a country usually
kl5340dc
2017-07-20 13:58
tax residency you usually have to show strong ties to the country. The cheapest way is usually to live there more than 6 months a year. Alternatives that are not cheap is to setup strong ties like owning property, family, etc (vital interests).
kl5340dc
2017-07-20 13:58
you can be resident of a country without being tax resident at the same time.
kl5340dc
2017-07-20 13:59
and it's not whether they can control or what else. It's up to you to prove that you have strong ties to the country to be tax resident. It's up to them if they accept your proof.
pragmatic
2017-07-20 15:23
In my opinion, if you have a 12 month lease, and you're mostly travelling within the EU, it's pretty hard for them to say you weren't in Malta.
etperth
2017-07-20 15:27
Yes exactly. I was just wondering. The thing is I'm from France and I don't have anything there (except my family - parents). The only tie I have now is my bank accounts and my social security thing. But I just need to get rid off it and become a Malta Resident spent some time there, have a 12 month contract and paying a bit of tax in Malta even if it's 5 K and I should be all good (I think, I hope, I am not an expert)
pragmatic
2017-07-20 15:30
I agree, that seems to be what I figured from Simon's article too
etperth
2017-07-20 15:37
@etperth uploaded a file: https://freedomsurfer.slack.com/files/etperth/F6CGBTMM5/pasted_image_at_2017_07_20_05_37_pm.png
etperth
2017-07-20 15:37
alistair
2017-07-20 15:48
It's more the French government that you need to worry about IMO. In the event that you need to prove to them that you are no longer resident.
alistair
2017-07-20 15:48
I'm in Malta and it will be pretty easy to clock up 6 months here for the 1st year...
alistair
2017-07-20 15:48
Next year I'm not so sure :slightly_smiling_face:
alistair
2017-07-20 15:49
If I get bored I may travel more within the schengen area
pragmatic
2017-07-20 15:50
@alistair I'm curious, how do you setup your business to treat it as foreign income?
alistair
2017-07-20 15:51
I'm a sole trader
alistair
2017-07-20 15:51
no corporation
alistair
2017-07-20 15:51
My income is from Amazon Associates
alistair
2017-07-20 15:51
mostly the US
alistair
2017-07-20 15:52
paid into a US bank account
alistair
2017-07-20 15:52
I only need to declare the money that I move into Malta
alistair
2017-07-20 15:52
and pay tax on that
pragmatic
2017-07-20 15:52
Technically, also the income you earn from "Maltese sources", i.e. work done in Malta.
alistair
2017-07-20 15:53
yeah I worried about this
alistair
2017-07-20 15:53
but was advised it's not maltese sourced
alistair
2017-07-20 15:53
believe me I didn't do any work here lol
alistair
2017-07-20 15:53
i'm a lazy ass ))
alistair
2017-07-20 15:54
but yes if I had a job in malta
alistair
2017-07-20 15:54
or ran a business in Malta
alistair
2017-07-20 15:54
i'd need to declare this
alistair
2017-07-20 15:55
also if you have savings
alistair
2017-07-20 15:55
you can remit savings to Malta tax free
alistair
2017-07-20 15:57
quoting the Maltese accountant...
alistair
2017-07-20 15:57
"Keep in mind that you are allowed to remit capital (savings) to Malta without being taxed (such funds will be considered capital if they would have been earned outside Malta more than 12months before being remitted)"
alistair
2017-07-20 15:58
So if you have some savings that you earned more than 12 months ago... you can end up paying no tax
pragmatic
2017-07-20 16:02
But someone working as a freelancer or something like that would need a different structure
alistair
2017-07-20 16:02
yeah
alistair
2017-07-20 16:02
I think so
alistair
2017-07-20 16:03
you can also form a company here
alistair
2017-07-20 16:03
you pay the corportation tax in full
alistair
2017-07-20 16:03
then it get refunded
alistair
2017-07-20 16:03
and it works out at 5% in the end
etperth
2017-07-20 21:45
hey Aliestair are you from the US?
ivo
2017-07-24 08:46
has joined #residency
rtiagm
2017-07-24 14:35
@pragmatic "But someone working as a freelancer or something like that would need a different structure" -> Working as a freelancer from Malta to clients outside of Malta is considered "Maltese sourced income" ?
rtiagm
2017-07-24 14:38
@alistair (Regarding Malta) Did you obtain the self sufficient residency permit?
alistair
2017-07-24 15:12
@etperth No I'm British which made Malta residency very easy
alistair
2017-07-24 15:13
@rtiagm yeah I did. It's the most simple option if you have enough cash in the bank to qualify.
ivo
2017-07-24 15:23
It should be noted that the maltese Non-Dom status is the only one that can be adopted unilaterally without further notification to the authorities.
ivo
2017-07-24 15:24
In addition, AFAIK you are not required you to report any of your foreign held ressources (as opposed to ie Cyprus).
pragmatic
2017-07-25 08:40
@rtiagm technically yes
yannerbp
2017-07-25 22:46
has joined #residency
harvie
2017-07-26 08:55
does one need Estoina e-residency to open up a personal/business account?
fish
2017-07-26 17:21
@harvie as far as I know you don't have to but it sure helps and it would be the right way to go. I've seen an Estonian startup that takes it upon themselves to open a business + bank account + other bureaucracy for you for ~200 EUR
harvie
2017-07-26 17:32
@fish thanks for that. I just want a personal account, do you have a link for this startup? I am wondering if they can open an account for a HK business as I plan to have a holiday there maybe later in the year
fish
2017-07-26 17:35
@harvie I tried opening private accounts (can't remember the name of the bank) but it seems to be more difficult since 2015. You'll need to prove strong relationship with Estonia (studies, work, ...) and it might cost you 100-200 eur just to open the account. Let me know if it works out for you as I'm still interested myself.
wojtek
2017-07-26 18:25
100-200 eur just to open is cheap
wojtek
2017-07-26 18:25
which bank?
harvie
2017-07-26 19:00
@fish thanks, got the name of the bank and the link to the startup that helps?
ivo
2017-07-26 19:04
@harvie Does it have to be estonian? You can get a private and also hk business account at the lithuanian fintech paysera. You'll get a multi-currency account for over 30 currencies, SEPA account with a personal IBAN
harvie
2017-07-26 19:24
@ivo no it does not, any if fine, do you have more info on this? Do I need to visit?
harvie
2017-07-26 19:24
I contacted Paysera last time and they did not allow it for HK business unless things have changed recently
ivo
2017-07-26 19:25
you can do all the paperwork online. takes literally 1h to have the private account ready
ivo
2017-07-26 19:27
AFAIK its possible to get business accounts for HK Ltds. Better speak to Paysera directly on that. I dont have a business account with them but I know people who do.
harvie
2017-07-26 19:29
I have sent them an email now asking about it, I already have a personal account, I logged in and see they now offer debit cards, this was not here before or at least not for me (UK citizen). Do you know where I can find the IBAN, I'm logged in now can't see anything, but I've not really used or put money into the account so maybe that is why.
harvie
2017-07-26 19:30
hmm, looks like my HK business is there too and I've found the IBAN.
harvie
2017-07-26 19:31
"IBAN account can only be used for transfers in EUR inside SEPA." That is a bit annoying
harvie
2017-07-26 19:33
but thanks for the help!
fish
2017-07-26 19:39
@harvie let me see if I can find it out - no promis
fish
2017-07-26 19:41
So the bank was LHV Pank - My difficulties were that I had to be there in body and produce documents to show I have ties to Estonia
fish
2017-07-26 19:44
@harvie , Company opening startup: https://www.leapin.eu/ . I think they changed the pricing model though
harvie
2017-07-26 19:50
thanks, have sent them an email :slightly_smiling_face:
ivo
2017-07-26 19:52
@harvie "IBAN account can only be used for transfers in EUR inside SEPA." I didn't know about that - it is a bit annoying, yes. However, if your primary concern is to have a business acounnt for receiving payments it shouldn't be too bad.
- Other bad things one should be aware of: They aren't a bank but a Fintech. So there's no EU fund backing them if they go bust.
- They block any payments that seem related to Crypto Exchanges
fish
2017-07-26 19:54
Im reading content on Paysera for several minutes already but I still don't understand what they are
alex1
2017-07-27 11:06
has joined #residency
stoplight
2017-07-27 14:43
It?s finally official?details should be out in a few weeks according to my local partners?
http://wicnews.com/caribbean/citizenship-by-investment-ceo-unveils-st-kitts-nevis-residency-scheme-12473480/
bitesak
2017-07-28 17:39
has joined #residency
svending
2017-07-31 14:40
has joined #residency
stevesmith
2017-07-31 20:36
has joined #residency
jase
2017-08-01 07:28
Congrats @stoplight !
brutus
2017-08-01 11:10
Apparently some changes in Cyprus residency rules:
We would like to inform you about a recent and important change to the Cyprus tax legislation that primarily affects those of you that have relocated to Cyprus or frequently travel to and from Cyprus.
In addition to the current ?183 day rule?, the Cyprus parliament voted for a Cyprus tax law amendment adding a second test ? the ?60 day rule? ? for the purposes of determining Cyprus tax residency for individuals. The ?60 day rule? will be effective as from tax year 2017 and going forward an individual will be considered as a tax resident of Cyprus if the individual satisfies either the current ?183 day rule? or the new ?60 day rule? for the tax year.
The ?60 day rule? applies to individuals who in the relevant tax year:
(i) do not reside in any other single state for a period exceeding 183 days in aggregate, and
(ii) are not tax resident in any other state, and
(iii) reside in Cyprus for at least 60 days, and
(iv) maintain a permanent residential property in Cyprus which is either owned or rented by the individual, and
(v) have other defined Cyprus ties such as employment in Cyprus by a company tax resident in Cyprus, provided that such employment is not terminated during the tax year.
pragmatic
2017-08-01 11:53
I guess that's good news if you want Cyprus to be your tax residency. Bad if you don't want it, and you have no tax residency and run a Cyprus company and frequently travel there.
globalconsulteurope
2017-08-01 13:01
Honestly, if I were not Bulgarian, i would choose Bulgaria or Georgia for my tax residency. Cyprus is an exhausted solution.
danz
2017-08-01 15:00
Why Bulgaria, it?s not a territorial taxation country, right?
agalt
2017-08-01 15:24
It is important to look at what laws are actually enforced in a country regarding taxation rather than simply writing one off because it looks a certain way on paper.
pragmatic
2017-08-01 16:14
What's enforced can easily change, and if you've broken the law in the previous year, you can be a target.
pragmatic
2017-08-01 16:15
Just saying, I wouldn't risk it.
bigworld
2017-08-01 16:55
has joined #residency
stoplight
2017-08-01 17:02
Uhmmm?thanks @jase ?but I don?t know what for..hahah.. :smile: ?
jase
2017-08-01 17:02
Didn't you have a hand in this? If not, I take it back :smile:
stoplight
2017-08-01 17:04
sounds like Cyprus is targeting non-EU people for this?competing with Malta?s Residency programs..
stoplight
2017-08-01 17:06
Hahahaha?sadly no part in this.?I just had the advanced information direct from the horses mouth?namely mr. baldy himself when I met him in St. Kitts? :smile:
jase
2017-08-01 17:06
:zipper_mouth_face:
maxsuur
2017-08-01 18:44
Bulgaria is quasi-territorial taxation country. Definitely a low tax country @danz but I'd go for Malta first, as a EU national though
mysteir
2017-08-04 05:14
Hey guys, Ultimate Guide to Thailand on the freedom surfer site has been a dead link for some time (https://www.freedomsurfer.com/thailand-hub/ then clicking on ultimate guide is the dead link).
Does anyone have a copy of it they could send me?
stoplight
2017-08-04 07:54
Qatar is fighting back the Saudi-led ?attack? on their country with a new residency program which essentially gives access to more people becoming permanent residents of Qatar including access to healthcare?but still citizenship is off the table?.this could ba game changer in the region? :slightly_smiling_face: ?
stoplight
2017-08-04 07:54
pragmatic
2017-08-04 08:11
game changer
pragmatic
2017-08-04 08:12
Until Saudia Arabia decides to start bombing the shit out of them
stoplight
2017-08-04 17:34
@pragmatic ?world war 3 if Saudi starts that?the U.S. base there protects the region?including Saudi?hahaha? :smile:
lifecoach
2017-08-04 20:09
has joined #residency
pragmatic
2017-08-05 09:50
fair enough
stoplight
2017-08-05 14:58
IMHO?it?s really just political bullying?if you look historically?they all support terrorists/extremists at one point anyway?
stoplight
2017-08-05 15:03
Qatar makes some good money from the the airline business?they?ve been number 1 for a while?maybe its envy?
adam1516
2017-08-07 05:39
has joined #residency
ciupi13
2017-08-07 08:29
has joined #residency
silviu.pojar
2017-08-07 09:02
has joined #residency
bmihalcea
2017-08-07 09:15
has joined #residency
popaionut
2017-08-07 15:15
has joined #residency
madalinchi
2017-08-07 17:41
has joined #residency
sherice
2017-08-08 05:46
Hi everyone, I'm not sure if this is the best place for this question but I wasn't sure where to post. My husband and I are
currently visiting Malaysian Borneo and had a question about residency and
taxes. We're both from Canada and have a company based there that we're able to
work from virtually and have been long term travelling for a while throughout
Asia. I understand that in some countries Malaysia included that if you stay in
the country more than 182 or 183 days you may be deemed a resident and pay taxes
so we usually tend to keep our stays under that duration. We haven't been here
quite as long yet, but are considering extending our stay and I wondered if the
taxes apply to foreign sourced income as well? And is it only if you bring the
funds into Malaysia? I guess in a nutshell, I'm wondering if we'd be taxed and
how if we stay longer than 183 days? Thanks for your help!
coroiumarius25
2017-08-08 07:03
has joined #residency
stoplight
2017-08-08 07:06
Hi @sherice ..welcome to the group! :slightly_smiling_face: ..generally, if you?re coming in and staying as a tourist?beyond the 183 days?then you?ll still be considered a tourist?
stoplight
2017-08-08 07:10
but if you plan to stay longer in malaysia, maybe you should consider the official residency program?for a fixed deposit of about $35,000?you can get a 10 year residency
stoplight
2017-08-08 07:11
technically you?re not allowed to work but if your business is completely online then its perfect for you..
stoplight
2017-08-08 07:12
living in malaysia could be much cheaper than canada..which part of canada are you guys from? Lots of Canadians here in the group?including simon.. :slightly_smiling_face:
sherice
2017-08-08 07:12
Thank you! And thanks for the quick reply :slightly_smiling_face:. It would seem so but then I come across info like this and it gets confusing. I remember it being a concern for us in Thailand too. https://toughnickel.com/personal-finance/Quick-Guide-to-Malaysian-Tax-for-Expartrites-and-Non-Residents (there's a definition for a resident and it says if you stay beyond 182 days)
sherice
2017-08-08 07:14
The 10 year program would be great but unfortunately our funds are tied up in investments right now. We're thinking about selling our property in Canada. I'm originally from Toronto and my husband is from the Windsor area.
stoplight
2017-08-08 07:15
Well..its just that?those tax info are for people working or planning to work in Malaysia?may not exactly apply to you if you fly under the residency program.
stoplight
2017-08-08 07:16
Oh cool from Toronto! I?m in Vancouver now actually..hehe..but going back to Southeast Asia, specifically Manila by the end of the month.. :slightly_smiling_face: ?
sherice
2017-08-08 07:16
Nice! I love Vancouver, I used to live there in my Uni days. Do you spend a lot of time there?
stoplight
2017-08-08 07:17
Another option is Thailand?lots of folks here are living in Thailand now..you can also get residency there?they also have a residency program?
sherice
2017-08-08 07:18
Interesting, we used to spend a lot of time there but the visa runs started to get a bit tedious so we started looking for something new. Residency in Thailand would be great too, the only challenge is, it's been hard for us to 'want' to stay in one place. And the ed visas have a one year commitment and we're not old enough for retirement yet.
stoplight
2017-08-08 07:19
it?s ?cheaper? than the malaysian program at about $25,000 I think?but its only 5 year residency..
sherice
2017-08-08 07:19
I really appreciate your help by the way! Especially at this hour :slightly_smiling_face:
stoplight
2017-08-08 07:20
I stay in Vancouver about a total of 4-5 months per year?but starting to shuttle between SEA, Canada and the Caribbean? :slightly_smiling_face:
stoplight
2017-08-08 07:20
No worries! Its only 12MN?hahah?too early to sleep! :smile: ?
stoplight
2017-08-08 07:21
Yeah I hear yeah?visa runs can be tedious?
sherice
2017-08-08 07:21
hahaha, thanks! That sounds wonderful
stoplight
2017-08-08 07:22
but my suggestion is to look at the Malaysian program?the country is great?KL is like any major city and KK?is dirt cheap! :smile:
stoplight
2017-08-08 07:22
then you have JB which is an arms length to Singapore?
sherice
2017-08-08 07:23
Yeah we're experiencing some of that right now. Our condo is on the 26th floor overlooking the mountains on one side and the sea on the other and it's only $450 CAD/mo - crazy!
stefan
2017-08-08 07:23
has joined #residency
stoplight
2017-08-08 07:23
could be expensive at first but the $35,000 is your money?it?s not going to go to the government?so you can withdraw it anytime you feel like looking for another nesting place?
sherice
2017-08-08 07:24
True, really good point. It's just going to take a bit of time before I can make the investments liquid so we were hoping to find a faster route.
sherice
2017-08-08 07:24
But if you're saying the resident situation wouldn't apply to us as tourists, that will be really helpful for the short term.
sherice
2017-08-08 07:25
We already pay taxes in Canada so I was hoping that staying longer wouldn't be an issue until we finally make our exit
stoplight
2017-08-08 07:27
yup?again its a general rule for many countries?come in as a tourist?you shouldn?t ?work? ?but once you extend your tourist visa?some countries ask how you intend to support yourself?etc. etc.
sherice
2017-08-08 07:32
Ah, I see. For some reason we were getting the impression from our accountant that it would be an issue because we're 'living' in Malaysia so to speak. Sept 1 puts us at 182 days and we'd like to come back. I figured that technically even if that law did apply to us because it's foreign sourced income we wouldn't be taxed, but my husband was keen to double check...better safe than sorry
stoplight
2017-08-08 07:33
I think visa-free access for Canada in Malaysia is only about 3 months?.so have you extended your tourist visas or just did visa runs?
stoplight
2017-08-08 07:33
is your accountant in Malaysia or Canada?
sherice
2017-08-08 07:33
We went to Brunei to reset the clock. Our accountant is based in Canada.
stoplight
2017-08-08 07:35
Ok then?well Malaysia will continue considering you as tourists?because thats how you came into the country?take note though?you can only exhaust visa runs to a certain extent?sooner or later immigration may grill you?
sherice
2017-08-08 07:36
This makes much more sense, but it sounds too easy, forgive me lol
sherice
2017-08-08 07:37
Yeah makes sense, we didn't really have much issue in Thailand but one of the officers did tell us not to say we were Software Consultants. I guess the terminology is a red flag now with all the digital nomads cropping up
stoplight
2017-08-08 07:38
one more thing?Malaysia doesn?t tax income of resident citizens, resident foreigners and non-resident foreigners? :slightly_smiling_face:
sherice
2017-08-08 07:39
Really? So taxes only apply to resident foreigners and non-resident foreigners if you 'work' in Malaysia...if I understand you correctly.
stoplight
2017-08-08 07:40
A more detailed explanation.. :slightly_smiling_face: ?Malaysia is on page 862?
sherice
2017-08-08 07:41
:relieved:
sherice
2017-08-08 07:41
You are the man! Thank you!
sherice
2017-08-08 07:41
Let me know when you're back out this way, we owe you a drink or several lol
stoplight
2017-08-08 07:42
Your welcome?.this is not a professional opinion?as i?m of course not an accountant..so this is just personal knowledge?.. :smile:
stoplight
2017-08-08 07:42
hahha! Surely! haven?t been to KK?.but its so near?so maybe i?ll drop by one of these days.. :wink:
sherice
2017-08-08 07:44
Of course, I totally understand. I'm waiting to hear back from a tax advisor in Bulgaria but in the meantime, I feel a little bit of relief because I don't have much time to decide where we go next lol. You definitely should, or if we're in your part of SEA, I'll definitely drop you a line so we can connect. What's your favorite?
stoplight
2017-08-08 07:52
You can send me a private message here? :slightly_smiling_face: ..or through skype as well? :slightly_smiling_face:
agalt
2017-08-08 07:53
Residency in Bulgaria is very flexible, so are taxes. @globalconsulteurope is an attorney in sofia If you want to send him a message.
stoplight
2017-08-08 07:53
Oh yeah?since were on the topic?another affordable option is latin america?
stoplight
2017-08-08 07:54
Paraguay to be precise.. :slightly_smiling_face: ?
agalt
2017-08-08 07:54
Paraguay is also good if you want to spend time around south america
agalt
2017-08-08 07:55
The question is: will this stack up on paper, will you actually spend time in this place to make it believable
agalt
2017-08-08 07:56
people want to say they are residents in these islands or whatever, and then when they get asked if they really go there, their stamps and utillity bills don't show that they actually live around there. Don't get caught up in some easy residency program where you don't actually live or live near.
agalt
2017-08-08 07:58
Latin america is beautiful, however I am very impatient. I wanted to shake the majority of the people in Costa Rica while i was there becuase they would not move fast enough. Eastern Europe fits my needs, but it may not work for everyone else.
sherice
2017-08-08 08:01
Thanks @stoplight will do! Yeah, we were thinking about South America as well and considering Chile. We haven't been there yet so we were considering a recon trip before making a decision. Thanks @agalt I appreciate the tip! That's part of the reason we've been trying so hard to make SE Asia work, we definitely don't want to be in a gray area and since we spend so much time here already it's legitimate. We did look at Bulgaria too but to be honest I wanted to learn more about what the quality of life would be for us first - we're an interracial couple. I've heard a lot of good things about Plovdiv but I'm not entirely sure how open people are.
agalt
2017-08-08 08:02
i lived in bulgaria for 4 months and dated a girl there for a year
agalt
2017-08-08 08:02
plodiv would be better if you were an inter-racial couple
agalt
2017-08-08 08:03
you can get an address there, and all of your necessary utillity bills etc. Send me a PM, we can talk more. It is also close to greece, macedonia, and albania if you want to go to the beaches :slightly_smiling_face:
agalt
2017-08-08 08:04
Sofia, Veliko Tarnovo, and Plodiv were areas I stayed in
sherice
2017-08-08 08:05
Thank you @agalt ! That sounds great, I would love to be in Europe as well so that definitely sounds promising. One of our developers is based in Sofia so we've been meaning to visit. How are the winter months there?
agalt
2017-08-08 08:06
winter on the coast would be better, The winters in sofia are cold and windy
agalt
2017-08-08 08:06
not much snow, just a lot of cold and wind
agalt
2017-08-08 08:07
your from canada so you will be alright
agalt
2017-08-08 08:07
i would take a vacation to albania in the winter if you guys wanted better weather
agalt
2017-08-08 08:07
albania does not stamp passports also
sherice
2017-08-08 08:07
That sounds good....haha. cold is why I left Canada :slightly_smiling_face:
agalt
2017-08-08 08:07
i don
agalt
2017-08-08 08:08
*don't know why they don't, however when i entered and left they just looked at me and smiled
agalt
2017-08-08 08:09
sofia has lots of students also, and is very cosmopolotin
sherice
2017-08-08 08:09
haha...
sherice
2017-08-08 08:09
So do you guys @stoplight & @agalt have your businesses offshore?
agalt
2017-08-08 08:09
bahamas trust + texas llc + bank of america corp account
agalt
2017-08-08 08:10
then one company in the republic of georgia to take advantage of the estonian style tax system here.
agalt
2017-08-08 08:10
I practice what i preach. Not sitting here bulsh!tting online.
agalt
2017-08-08 08:11
the us company pays no taxes since it is a pass through tax entity
agalt
2017-08-08 08:11
the georgian company pays very little taxes since i suck the profits out of it with the us company
agalt
2017-08-08 08:12
republic of georgia residency
agalt
2017-08-08 08:12
considering bulgaria soon myself as i will need a new residency after i get citizenship in georgia shortly
stoplight
2017-08-08 08:13
@sherice ?have a Wyoming LLC and a UK Ltd. Co?.Caribbean as my second citizenship :slightly_smiling_face: ?.and finalizing my Tongan residency as well? :slightly_smiling_face: ?
sherice
2017-08-08 08:14
Wow, that's interesting so you both have American LLC's
agalt
2017-08-08 08:14
are you using a trust @stoplight ?
agalt
2017-08-08 08:15
the american llc is one of the best for tax purposes and payment options
agalt
2017-08-08 08:15
you can use paypal, stripe, etc
agalt
2017-08-08 08:15
if done correctly you should not pay taxes or very little if you have us sourced income (that is a different animal for a private conversation though)
sherice
2017-08-08 08:15
Yeah, it definitely is. We considered it but I wasn't sure if all of our clients being in the US would be a concern
sherice
2017-08-08 08:16
When I talked to Simon, he suggested a UK LLC but we would need to sort out residency since it's a pass through as well. And his second option was Labuan which is part of the reason we came to Borneo
agalt
2017-08-08 08:16
you can move offshore to the caribean or a low tax european country
agalt
2017-08-08 08:17
residency is key for many people, and this is what keeps you in the clear of gets you in a lot of trouble
sherice
2017-08-08 08:18
So with your Georgian residency, do you have to spend 6 months there?
stoplight
2017-08-08 08:19
@agalt ?nope?using my Caribbean citizenship for the US LLC and since we?re not working with any US person and company?don?t need to use additional trusts?
agalt
2017-08-08 08:19
that is a delicate issue. georgia doesn't care much. It depends on what your country of citizenship requires.
agalt
2017-08-08 08:19
I live here because I like it. I spend more than 6 months a year here anyway, so i don't worry about it
agalt
2017-08-08 08:20
@stoplight smart :slightly_smiling_face: you are keeping it simple :smile:
sherice
2017-08-08 08:21
Cool, yeah Canada is going to care where we're domiciled. But good to know it's a non-issue for Georgia
sherice
2017-08-08 08:22
I really appreciate your insight, you both have given me more to think about. I'd really like to get this sorted soon.
agalt
2017-08-08 08:22
georgia likes canadians and western europeans. They won't allow citizenship for people from some countries or religions
stoplight
2017-08-08 08:22
yup! :smile: ?that?s what spending on the second citizenship is for?it?s a pain to the wallet but all my international business happens on the Caribbean citizenship including visits to Canada?so my original home country?has really no trace of anything?expensive at first but simple in the end?when I get my Tongan residency?I can start using my bank account in Tonga? :smile: :wink:
agalt
2017-08-08 08:23
people get offended when i bring this up, but people need to know up front, so i just go ahead and say it
agalt
2017-08-08 08:24
I'm offensive and kind of crass as people have figured out after they meet me in person.
sherice
2017-08-08 08:24
Really? Offended at what? That Georgia has cultural and religious biases?
agalt
2017-08-08 08:24
they wont naturalize arabs or muslims
agalt
2017-08-08 08:25
anyone can be a resident, but there are restrictions for citizenship
agalt
2017-08-08 08:26
georgia is culturally conservative and financially conservative. From a cultural perspective, the younger generations are getting better and more open.
agalt
2017-08-08 08:28
indians are welcome here, but Georgia will restrict naturalization for some parts of the world. They also will not welcome refugees
agalt
2017-08-08 08:28
we have very little social welfare programs here, and if you mess your life up, it is not the goverments problem. I like this, but some people don't
sherice
2017-08-08 08:28
That's cool, as long as I can live there safely 'for the most part', that's fine. My main concern was how prevalent racism was in Eastern Europe. I hear lots of great things but not all cultures have the same privileges so I have to take what I hear with a grain of salt.
agalt
2017-08-08 08:29
you will be fine in eastern europe
agalt
2017-08-08 08:29
i go to a bar in sofia that is 25% black on weekends
agalt
2017-08-08 08:30
i worked with a lot of people from North and East St. Louis city
sherice
2017-08-08 08:33
Wow had no idea that many black people were in Bulgaria, although I did hear that quite a few Africans go there for University. Either way, I'm good because I don't really live around a lot of my own culture now (or any lol) but a couple friends mentioned that it was hard for them to get an apartment because of sterotypes. I appreciate your candidness. It's not always an easy question for me to ask because who really wants to admit this kind of stuff
sherice
2017-08-08 08:34
Thanks so much for your time guys! I will definitely keep in touch :slightly_smiling_face:.
agalt
2017-08-08 08:34
Enjoy your night! Send me a PM if you have any questions
sherice
2017-08-08 08:34
You too and will do! Thanks again!
agalt
2017-08-08 08:41
And yes, in case anyone was wondering, I lived in the white ghetto in St. Louis the last 3.5 years before I left and worked a lot of odd jobs. This is why i spent time around different cultures.
roman
2017-08-08 11:07
@sherice if you want to stay in Malaysia (but Borneo region is excluded), you may look into Labuan incorporation. This gives you residency thru work visa. I was told the setup is about 3k. I have a contact that someone else who did this gave me, but I haven't done it myself. I found it to be excellent value, however my wife was adamant about staying on Borneo, rather than KL so this option was out.
danielmoise
2017-08-08 13:41
has joined #residency
sherice
2017-08-09 06:52
Thanks @roman! We thought about this too, it was part of the reason we came to KK. My husband and I were exploring the option based on Simon's suggestion and found a contact in Labuan, but unfortunately it didn't work out because Borneo is where we'd prefer to live as well. And when we factored in the yearly costs (taxes and permit) it didn't put us in an optimal situation tax wise. I noticed your Canadian flag :slightly_smiling_face:...are you from Canada and residing in Borneo too?
sego
2017-08-09 07:36
has joined #residency
roman
2017-08-09 11:12
@sherice nah not residing there. Did visit this year to KK and loved it. To Kuching and didn't love it. Now back to Canada. But will be back on the road once the winter sets. I'm still a resident.
sherice
2017-08-09 15:28
@roman us too! It's funny most of the people we talk to love Kuching, but we preferred KK too. We came planning to check out the place but here we are 4 months later lol. Nice to meet a fellow Canadian - we're still residents too but we've been travelling for a while now so it's about time we make an exit.
pedrodemendez
2017-08-10 13:17
@stoplight any news on the St Kitts residency program?
daciandemian
2017-08-11 07:54
has joined #residency
stoplight
2017-08-11 22:12
@pedrodemendez ..no details yet?but if you?re really interested, I can forward the information of the head of the unit and you can directly ask for details. Feel free to PM me. :slightly_smiling_face:
lucian.avadani
2017-08-14 14:47
has joined #residency
liviu
2017-08-14 22:12
has joined #residency
adrian7
2017-08-14 23:28
has joined #residency
valicotiga
2017-08-15 00:30
has joined #residency
actsellers
2017-08-15 04:32
has joined #residency
toughsegment
2017-08-15 12:52
has joined #residency
dia951
2017-08-16 14:37
has joined #residency
neal
2017-08-17 16:15
has joined #residency
goyologo
2017-08-20 16:35
has joined #residency
maxsuur
2017-08-21 18:11
what do you guys think of the Cyprus Tax residency new regime: https://www.bdo.com.cy/en-gb/news/bdo-cyprus-news-2017/cyprus-parliament-approves-bill-allowing-persons-w ?
alexanderhay
2017-08-21 19:32
Sounds awesome
maxsuur
2017-08-21 20:12
I am wondering how expensive it'd be
danz
2017-08-22 00:45
Yeah, it doesn?t sound bad. Only need 60 days to qualify for tax residency. Are there any other countries who offer anything like this?
roman
2017-08-22 02:04
Also need to be employed or be a director of a business. Not sure if they check financials and whether one needs actual business to be making money or just be a director and do nothing?
alexanderhay
2017-08-22 05:15
I remember spending time on Cyprus during the 1980s. Beautiful place, wonderful people, fabulous food.
stoplight
2017-08-22 07:13
That sounds interesting! I hope it won?t be too absurdly priced like their citizenship program.
pragmatic
2017-08-22 09:35
What is so great about a Cyprus residency though?
pragmatic
2017-08-22 09:36
I mean - tax wise.
maxsuur
2017-08-22 09:43
You need to live there only a couple of months a year to qualify as a tax resident. That is one of its great advantages, I believe.
johncitizen
2017-08-22 12:25
Next step, check if they have a tax agreement with your home country.
yuli
2017-08-22 22:58
Sounds super interesting. Would such a residency allow access to the Schengen area, curious to know?
alexanderhay
2017-08-23 06:54
@johncitizen In regards to tax agreements, it is always a good idea to understand how they work for you, but you don't necessarily have to do everything in the same country. For instance, you may choose to have your residency in one country and your business presence in another. There are many advantages to this sort of structure. Example: Georgia is a great place to have your residency because it is a true territorial tax country for individuals, however, you may want to have your business located somewhere else in order to protect your assets and further reduce your taxes.
brutus
2017-08-23 08:49
@pragmatic Cyprus tax wise: if you qualify for Non-Dom status (roughly no Cyprus origin & did not live there for last 17/20 years), dividends & royalties received tax free. Also no income tax on first 19.5 K EUR salary but (EU) mandatory health insurance, roughly 20% (employer + employee)
maxsuur
2017-08-23 11:18
Unless you have your company incorporated elsewhere
sylvain156
2017-08-24 08:56
has joined #residency
alistair
2017-08-24 09:56
Does anyone have any experience/knowledge of Portugese Non Habitual Residency Status? http://nonhabitualresidents.com/
alistair
2017-08-24 10:00
A friend was talking to a Portugese tax advisor and recieved this advice...
alistair
2017-08-24 10:00
"Please note that the acceptance to the NHR ("high value activity") programme is straightforward: you only need to be habitually resident in Portugal i.e. treat Portugal as your home, and not have been resident in Portugal in the previous 5 years.
With regards to your queries, please note that as a website manager/consultant you can be considered in Portugal an independent professional of an high added value activity, and thus your income being taxed in Portugal as a NHR at a special rate of 20%. The registration under one of these categories is done separately after being approved as NHR. The Tax Department needs to analyze all the supporting documents for this application.
You also have a second option which is setting up a company and receive dividends ? if you receive said dividends as a Portuguese tax resident from a company located in a foreign country, your income (dividends) will not be taxed in Portugal. Depending on the double taxation agreement (DTA), in some countries a withholding tax maybe applicable in a maximum of 15%.
However, if you set up a company in a specific jurisdiction, such as Malta, Ireland, Cyprus (or even a US company that pays dividends in Delaware) you can be fully tax exempt in both country of source and residency as a NHR. However, please note that you would still have to bear the costs of setting up and maintenance of the company.
Should you have any queries please do not hesitate on contacting us."
alistair
2017-08-24 10:02
Am I missing something? I don't see Portugal featured on http://Freedomsurfer.com or anyone talking about it here...
brutus
2017-08-24 10:55
@alistair An ex-colleague of mine was setting-up in Portugal 2 years ago (consultant of high added value activity). Last I spoke to him few weeks ago, he was still waiting for his tax status confirmation...
alistair
2017-08-24 10:59
hmm.. that's no use... because you need to become tax resident in portugal first and then apply for this NHR status...
brutus
2017-08-24 11:54
Sorry Alistair, I forgot 1 point: he is using a lawyer to apply for this status and is hoping to pay 0% tax for 10 years. Maybe why he is still waiting for a decision
alistair
2017-08-24 11:55
Yes that is what attracted me too )
maxsuur
2017-08-24 13:00
@alistair @brutus it'd be interesting to get more information about this issue
maxsuur
2017-08-24 13:00
I wouldn't hesitate for a minute to move there from Spain
alistair
2017-08-24 13:01
maybe you could get an update from your friend @brutus ???
alistair
2017-08-24 13:01
1 thing I'd be concerned about... if I ran my business through a malta company for example. That it would be treated as effectively managed and controlled in portugal
alistair
2017-08-24 13:02
and not qualify for the 0% tax on dividends
maxsuur
2017-08-24 13:02
what if the company was managed and operated from a UK LLP for instance?
alistair
2017-08-24 13:03
i don't know ))
alistair
2017-08-24 13:03
just heard about this portugal thing this morning
maxsuur
2017-08-24 13:03
there's very little written on the internet about it
alistair
2017-08-24 13:04
yeah that's why I dropped the question in here...
alistair
2017-08-24 13:04
yeah that's the one i linked above
maxsuur
2017-08-24 13:05
ah good
alistair
2017-08-24 13:05
6 years residency to get a Portuguese passport too
maxsuur
2017-08-24 13:06
not bad
alistair
2017-08-24 13:06
i'm british and brexit annoys me )
alistair
2017-08-24 13:06
i'd like an eu passport
maxsuur
2017-08-24 13:06
I cam imagine
maxsuur
2017-08-24 13:06
*can
alistair
2017-08-24 13:06
but you need to learn Portugese
alistair
2017-08-24 13:06
there is a language test
maxsuur
2017-08-24 13:06
It's very similar to English though
alistair
2017-08-24 13:07
yeah and 6-10 years to learn it
maxsuur
2017-08-24 13:07
you'd end up learning it haha
maxsuur
2017-08-24 13:07
faster than that
maxsuur
2017-08-24 13:07
get yourself a Portuguese(or brazilian) girlfriend, and you'll do so in no time flat
alistair
2017-08-24 13:08
lol
maxsuur
2017-08-24 13:09
pensions are included
maxsuur
2017-08-24 13:09
you can always set up that Trust Simon once mentioned
alistair
2017-08-24 13:09
i might talk to these Edge lawyers so if I learn more I'll update here
maxsuur
2017-08-24 13:09
that pays you recurring monthly income
maxsuur
2017-08-24 13:09
like a pension
maxsuur
2017-08-24 13:09
good idea
maxsuur
2017-08-24 13:09
let us know how the whole thing unfolds
brutus
2017-08-24 15:18
@alistair @maxsuur Yes sure I will try to get more info from my ex-colleague
mikeseo
2017-08-25 03:48
I emailed back and forth a bit with Tony at http://www.expatconsultportugal.com/ he seems knowledgeable and eager to share info about the NHR scheme
alistair
2017-08-25 13:51
thanks @mikeseo I sent him an email )
anairda
2017-08-25 17:47
has joined #residency
rtiagm
2017-08-28 06:22
Probably not the right to place to post this here but I'm going to rent a place in Malta. I only plan to stay there 6 months but interested in renting the place for the whole year. If anyone is also looking to rent a place there while staying 6 months or less and is interested in timesharing please let me know.
globalconsulteurope
2017-08-29 07:44
@alistair any news on this?
globalconsulteurope
2017-08-29 07:52
As you mentioned the need for EU passport, Bulgarian ID card might work as first step for getting the citizenship - http://companyinbg.com/id-card.html
The business can be ran trough US LLC, owned by trust. @alexanderhay can advise you in details for such set-up
nickc
2017-08-29 17:55
I wonder if as a "sports person" this NHR regime could work? Would be perfect for me. Have been looking into it but it doesn't seem to be easy.
nickc
2017-08-29 17:55
@alistair please keep us updated :slightly_smiling_face:
alistair
2017-08-30 11:25
@nickc the portuguese goverment publish a doc about it
alistair
2017-08-30 11:27
alistair
2017-08-30 11:29
@nickc first you need to get residence. It's easy if you are an EU national. I have no idea how hard it is if you are not.
alistair
2017-08-30 11:30
Once you are a resident of portugal anyone that has not been a resident in the last 5 years can get NHR status.
alistair
2017-08-30 11:30
The question is... will your income be taxed or not.
alistair
2017-08-30 11:32
I don't see anything about "sports person"...
alistair
2017-08-30 11:32
you play professional sports?
alistair
2017-08-30 11:34
Ah i see you mention a motorsports company
alistair
2017-08-30 11:34
foreign company dividends are not taxed in Portugal if you have nhr status
alistair
2017-08-30 11:35
but you'd need to setup the company somewhere with favorable corporation tax
rtiagm
2017-08-30 11:41
Funny as you guys are trying to become residents of Portugal and I'm trying to move out by having less and less connections to it. I guess its only advantageous if you're not a citizen.
rtiagm
2017-08-30 11:42
Last time I checked the NHR I got the impression that the government expects you to be taxed somewhere.
alistair
2017-08-30 20:58
@rtiagm they expect it to be possible to be taxed but you don't need to be taxed. Also if you are non resident of Portugal for the next 5 years you can go back and claim NHR status )
alexanderhay
2017-08-31 09:38
That is ironic and true in many situations. For instance I am a US attorney and I help people do business in the USA. Despite some of the negative attitudes, the USA is a really great 'tax haven'. You just can't live there, and you can't be a US citizen. And you have to be careful to avoid some simple errors. But for us citizens it sucks!
salliecookies
2017-09-01 15:13
has joined #residency
stoplight
2017-09-02 04:27
I guess that is true for many countries in the world. In the Philippines, foreigners fully enjoy territorial taxation whereas citizens are taxed on their global income. :disappointed: This was a main factor in my exit strategy out of the country and as @alexanderhay has pointed out, I personally chose the good ?ole USA to register my LLC. :slightly_smiling_face:
rtiagm
2017-09-02 12:29
For anyone wanting to become a resident of Malta, I have a place in Gozo (2 bedrooms) near the ferry and I'm still looking for someone willing to timeshare for 6 months of the year. As I don't plan to stay here longer than that in a year, it would be great if I could share expenses.
rtiagm
2017-09-02 12:34
I have to decide if I rent it for 12 months in 1 or 2 months.
alexanderhay
2017-09-04 08:18
One of the advantages of Georgia. Citizens and residents only pay taxes on Georgian income. Total territorial treatment, and a very laid back residency program.
patjk
2017-09-05 02:45
has joined #residency
freediddly
2017-09-05 12:11
has joined #residency
maxsuur
2017-09-05 12:26
Dear e-resident,
A group of international security researchers has identified a potential security vulnerability that affects the use of Estonia?s ID cards and digital IDs.
When notified, Estonian authorities immediately took precautionary measures, including closing the public key database, in order to minimise the risk while the situation can be fully assessed and a solution developed.
According to current information, this security risk is still theoretical and no one?s digital identity has been misused. You can continue to access your digital ID through your digital ID card. Should the situation change, you will be notified immediately.
This issue affects everyone with an Estonian ID card and digital ID issued after 16 October 2014 so the Estonian Prime Minister J�ri Ratas is speaking about this issue today to explain that the digital security of citizens, residents and e-residents will always be a top priority for Estonia.
We will keep you updated on any developments and you can also email us at if you have any questions.
We are grateful to the researchers for uncovering this issue and providing us with the opportunity to ensure our digital society can emerge stronger and more secure.
Kaspar Korjus
Managing Director, e-Residency
bravo17
2017-09-05 13:21
has joined #residency
johncitizen
2017-09-06 10:49
I'm not too concerned, I imagine it will at the very least involve the updating of software and reissuing of digital certs and pin numbers.
johncitizen
2017-09-06 10:50
My card is up for renewal next year, I'm interested in seeing what's involved int eh process.
ahawkins
2017-09-07 08:13
https://twitter.com/adman65/status/905329759038537728 - I got my e-residency finally \o/
ken
2017-09-12 23:01
has joined #residency
mikeseo
2017-09-18 04:07
@alistair how is your investigation into Portugal and NHR going?
mikeseo
2017-09-18 05:39
http://www.belionpartners.com/uploads/1/8/0/4/18049849/portugal_non_habitual_resident_guide.pdf page 24 has a nice summary chart
maxsuur
2017-09-18 07:59
Portuguese residency Programme:
?? there are several socalled
?tax havens? that
are white-listed, such as
those that are EU
member states
(Luxembourg, Malta,
Cyprus, Estonia,
Bulgaria, etc.)??
maxsuur
2017-09-18 08:35
On Income Tax
mikeseo
2017-09-18 09:23
I wonder if you just live full time in Portugal but have an corp/office/employees in Malta and travel over there to work and you pay Malta corp and personal tax, you can qualify for 0% tax in Portugal?
mikeseo
2017-09-18 09:24
seems kinda tricky to prove foreign sourced income and have another country minimally tax your salary? And also avoiding Portugal CFC rules?
admin
2017-09-18 10:36
has joined #residency
maxsuur
2017-09-18 12:32
Everything can be possible with just a little bit of creativity
ahawkins
2017-09-18 12:51
Does anyone have experience applying for Singaporean residency via some sort of self-employed business visa?
ahawkins
2017-09-18 12:56
thinking that Singapore would be a great second citizenship for my GF (indian) and a over-all nice place to settle for 5 years or so.
sylvain156
2017-09-18 14:45
The immigration of Singapore doesn't seems to be the easiest immigration. Have a look on Singapore channel if you want to heard my last experience one week ago
sdfk787
2017-09-19 09:38
you need to be able to hire staff in singapore from what I understand, they want to see you bring value to them
ahawkins
2017-09-21 07:27
interesting
ahawkins
2017-09-21 07:39
may be easier to get a job then :confused:
mikeseo
2017-09-21 07:53
I don't think Singapore allows dual citizenship either.
mikeseo
2017-09-21 07:53
Malaysia might be good, Penang reminded me of a cheaper slightly dirtier Singapore and you can form a Labuan company and give yourself a visa
ahawkins
2017-09-21 08:03
well I was thinking if it for my girlfriend. She's Indian so we're planning on getting a new citizenship for her.
mikeseo
2017-09-21 12:14
I've heard it's also difficult now to convert a Singapore permanent resident visa to a citizenship
mikeseo
2017-09-21 12:15
might be easier to do a western country like au ca eu us, work visa, 5-6yrs naturalization?
millnmd
2017-09-21 16:45
It looks like Chile might be worth it, you could become a citizen with only 6 months + 5 days residence (day a year for 5years). Its a very good passport. https://www.freedomsurfer.com/chile/
rtiagm
2017-09-21 23:33
How likely is that to happen, permanent residence with only a little over 6 months
rtiagm
2017-09-21 23:33
Has anyone here been able to achieve it in such short time?
rtiagm
2017-09-22 09:27
@brian I was asking about Chile.
mikeseo
2017-09-22 10:21
@rtiagm probably very likely. It doesn't seem hard to get pr in south america. I was able to get it in Paraguay and Panama easily, after a few months, coming and going.
fish
2017-09-22 18:21
Any tips for a work visa/residency for NZ? Asking for a friend
millnmd
2017-09-23 17:28
@rtiagm For 1 year temporary residence permit (Retirement and Periodic Income Visa) the requirement for PR is that you haven't spent a total of 6 months out the country and you apply for PR no earlier then 90 days before the visa expires. The 6 months don't have to be consecutive .
philippe
2017-09-23 18:21
Hey I?m back over there? just spent 4 month in chile and did not apply yet :smile:
I may wait until oct 2018 to apply,until then should I stay in Bulgaria or try something in Georgia or else (Malta?) ? I would apply somewhere else only if it?s quick and easy.
philippe
2017-09-23 18:24
@simon the georgia profile seems a bit ambiguous according to the comment section ?
aka
2017-09-24 12:29
Try Malta... Just because of its beauty...
rtiagm
2017-09-24 13:26
FYI, Malta self-sufficient (ESS) is not so easy anymore. When I tried to apply for ESS a month ago I was told I needed to be in Malta for 3 months before applying. A bank statement showing no income coming in and activity in Malta (spending) and a long term contract (6 months)
rtiagm
2017-09-24 13:26
They also expect you to be in Malta at least 3 months and a day, ideally 6 months every year.
rtiagm
2017-09-24 13:29
Any experts in Georgia? I'm interested in learning more about it.
maxsuur
2017-09-24 16:15
Wow, everything is becoming more and more complicated. Well, you can always go the Paraguay route though
rtiagm
2017-09-24 16:22
@maxsuur Paraguay has no minimal physical presence required right?
rtiagm
2017-09-24 16:22
@mikeseo Did you used an agent to obtain Paraguay residency? How long did it take?
maxsuur
2017-09-24 16:31
@rtiagm @stoplight has a local contact in Paraguay who could help you with that
maxsuur
2017-09-24 16:32
Paraguay is pretty lax. Some of her clients hasn't stepped in Paraguay since 2013 and still remain tax residents
maxsuur
2017-09-24 16:32
*One of
arkdeeplove
2017-09-24 18:14
Hi guys, is it possible to prove residency with Airbnb? I don?t want o get a six month contract, instead I want to use Airbnb.
bns200
2017-09-25 00:42
has joined #residency
mikeseo
2017-09-25 01:13
@rtiagm ya but he vanished now... he was fine doing my visa job but I emailed him recently and saw his website offline and no reply to my emails so I wouldn't recommend him now
mikeseo
2017-09-25 01:14
@rtiagm if you speak spanish, you could probably do it yourself for a couple hundred dollars
mikeseo
2017-09-25 01:16
@rtiagm I think it took a 1 week visit, wait a month or two, visit for another few days, wait another month or two, finished.
mikeseo
2017-09-25 01:18
I would recommend Panama over Paraguay, seems a bit more legit and stable/reliable... but both countries aren't really nice to live in fulltime imho. I wonder if Chile is more liveable?
mikeseo
2017-09-25 01:21
@arkdeeplove airbnb just gives you a receipt for the dates you booked...
arkdeeplove
2017-09-25 01:33
@mikeseo Thank you very much for the reply, will that be enough to prove the time spent in the country and residency?
mikeseo
2017-09-25 05:16
@arkdeeplove probably not, but it depends who you have to prove it to and what their requirements are
nort17
2017-09-25 08:28
has joined #residency
ianpaul
2017-09-25 09:12
has joined #residency
maxsuur
2017-09-25 09:15
@mikeseo remember Panama Papers? Several countries in Europe (including mine) have blacklisted Panama for obvious reasons. Paraguay is somewhat still under the radar for many
bigworld
2017-09-25 09:55
Panama is not blacklisted. I see the DTA treaty in place:
http://www.minhafp.gob.es/es-ES/Normativa%20y%20doctrina/Normativa/CDI/Paginas/CDI_Alfa.aspx
mikeseo
2017-09-25 10:18
@maxsuur ah good point, Paraguay does seem to have a much lower key reputation
rtiagm
2017-09-25 10:59
@mikeseo @maxsuur Does Panama and Paraguay have minimum physical presence time to keep the residency?
rtiagm
2017-09-25 11:00
@mikeseo Unfortunately I don't speak Spanish, although I guess I could learn it quickly.
danz
2017-09-25 11:42
I believe so
stoplight
2017-09-25 11:51
@rtiagm as a rule of thumb?.most normal residency routes do require physical presence and time on the ground?unless you can circumvent with investments into the country?which in Paraguay you can?I?m not too knowledgeable in Panama?the laws there have changed?.but in Paraguay?if you open a business or buy a lot?this helps you establish your permanent residency and can easily renew it?
maxsuur
2017-09-25 12:24
@bigworld as far as I know, Spain has an exit tax for countries like Panama, and they'd even tax you for a number of years after your departure.
bigworld
2017-09-25 12:37
@maxsuur that only happens if you move to a tax haven for 4 years after leaving straight from Spain. But because Panama have a DTA treaty with Spain, the later do not consider the former a tax haven. Although it could be a zero-tax jurisdiction though.
maxsuur
2017-09-25 12:48
@bigworld you're right. But watch out other EU nationals. This is what Simon wrote me a while ago:
"I'd recommend going with Paraguay for your residency. The reason being that Spain maintains a blacklist of tax havens and punishes its citizens who move there with worldwide taxation for up to five years AFTER the move. While Panama was removed from the list a few years ago, it still is on the EU blacklist and with the recent leaks (Panama papers), the risk of political / economic pressure or at least stigma is high. Paraguay offers the same tax benefits but without this risk. Also, it is cheaper and easier to become a resident there"
bigworld
2017-09-25 12:56
Agree, it's only that I am very scropolous with the wording because the devil is in the details. Thing is that altough Panama is not a tax haven for Spain residents, I would expect that actions will be under scrutiny if you do business under questioned jurisdictions. So agree with conclusions.
mikeseo
2017-09-25 13:00
the Panama lawyer I used said minimum is a couple days every 2 years to maintain residency
ahawkins
2017-09-26 03:45
great discussion in the scroll back! I get the feeling the situation on the ground will change in a year or so for my GF and I. We're departing on a 4/5 month trip around SEA. We're passing through Singapore, specifically with a residency/long-term outlook. We're in the US after that for a few months to visit my family. Then we need to find residency. It seems that South America (Chile specifically) is still a safe bet.
ahawkins
2017-09-26 03:49
Singapore would be easy if i got a job (easy in IT), but we want to be self employed
ahawkins
2017-09-26 03:53
I'm confident I could find employment anywhere (which makes residency -> citizenship straight forward), but _really_ don't want to do that.
ahawkins
2017-09-26 04:12
anyone have some advice on things to consider in the next 6 months?
maxsuur
2017-09-26 07:17
any updates on Portugal's NHR (non-habitual residency programme)?
aka
2017-09-26 08:35
you cant be portuguese to get it right?
aka
2017-09-26 08:35
or you still have to be like 1/3 of the year in portugal to be eligible?
maxsuur
2017-09-26 08:36
It seems that is indicated to Portuguese people who have lived abroad for a number of years and want to come back
maxsuur
2017-09-26 08:36
Just need to have an address there
aka
2017-09-26 08:36
i can give you that max
maxsuur
2017-09-26 08:36
"Place of abode"
aka
2017-09-26 08:36
use my address as you like
aka
2017-09-26 08:37
and the pool
maxsuur
2017-09-26 08:37
So, you are Portuguese,or live there right?
aka
2017-09-26 08:37
i am portuguese, but live in the uk
maxsuur
2017-09-26 08:37
Haha thanks @aka
aka
2017-09-26 08:37
because economy..
aka
2017-09-26 08:38
i only recently heard about this nhr
aka
2017-09-26 08:38
but it still did not entice me
aka
2017-09-26 08:38
so i cant apply because i have not been out of portugal for 5 years, so i kinda stop reading it there
maxsuur
2017-09-26 08:38
I imagine, I like the idea of living in Portugal and even learning the language while having maximum flexibility at the same time
aka
2017-09-26 08:39
come and visit
aka
2017-09-26 08:39
the country is beatiful, the sun is always there? people are extremely friendly
aka
2017-09-26 08:39
no economy
aka
2017-09-26 08:39
but for a digital nomad, internet is amazing
maxsuur
2017-09-26 08:39
I was there in Summer though. Cabo San Vicente
aka
2017-09-26 08:39
cool
maxsuur
2017-09-26 08:40
Very friendly people and delicious cuisine
aka
2017-09-26 08:40
altough.. kinda far from everything
aka
2017-09-26 08:40
go to lisbon
aka
2017-09-26 08:40
to have a more civilized look into it
maxsuur
2017-09-26 08:40
That's what I am planning
aka
2017-09-26 08:40
or porto, for more historical
maxsuur
2017-09-26 08:40
Went there for Blink 182's concert few years ago too
aka
2017-09-26 08:41
well that almost counts
aka
2017-09-26 08:41
but apart from that
aka
2017-09-26 08:41
i just never saw portugal as a prime example of low tax country
aka
2017-09-26 08:41
so its hard for me to believe this nhr is that advantageous
maxsuur
2017-09-26 08:42
Yep, I think that kind of happens to everyone of us in here
maxsuur
2017-09-26 08:42
The US can be a great tax haven for non-US people
maxsuur
2017-09-26 08:42
For instance
aka
2017-09-26 08:42
yes
maxsuur
2017-09-26 08:42
And so on, and so forth
aka
2017-09-26 08:42
so is uk
aka
2017-09-26 08:43
etc..
maxsuur
2017-09-26 08:43
Yup
aka
2017-09-26 08:43
for now i kinda figured my way out around here to keep it as low as possible
aka
2017-09-26 08:43
portugal is a good country if you want to buy a house to airbnb
aka
2017-09-26 08:43
so that has also been one of my hobbies
maxsuur
2017-09-26 08:44
That'd be a nice a idea too. My gf is doing that in southern Spain, my cousins too. Making a bit of money off of that
aka
2017-09-26 08:44
residency/european nationality wise, a few years ago it was one of the easiest countries to get in
aka
2017-09-26 08:45
you could literally become portuguese citizen by owning your own company and paying the minimum taxes for about 5 years
aka
2017-09-26 08:45
visiting every 180 days or so
aka
2017-09-26 08:45
i am not sure that exists anymore.. probably stricter now
maxsuur
2017-09-26 08:46
Everything gets more difficult but new options often arise, so is just a matter of staying on the lookout for new opportunities
aka
2017-09-26 08:46
yes
aka
2017-09-26 08:47
always
maxsuur
2017-09-26 08:47
This is unstoppable, and now I see that Flag Theory is gradually becoming more pervasive.
aka
2017-09-26 08:47
well? until the whole system is controlled by some merciless ai
aka
2017-09-26 08:47
lots of holes will be exploitable
maxsuur
2017-09-26 08:49
There's always a way
aka
2017-09-26 08:49
anyway come to portugal, chill and relax on a beach.. meet startups that are also exploiting some holes
maxsuur
2017-09-26 08:50
I will! Just curious,in which city is that address of yours?
aka
2017-09-26 08:50
i have one in lisbon if you want
aka
2017-09-26 08:50
another in albufeira
maxsuur
2017-09-26 08:51
Wow, like a buffet :)
aka
2017-09-26 08:52
well if you need in london that also can be arranged :slightly_smiling_face:
maxsuur
2017-09-26 08:53
Having options is always necessary haha
maxsuur
2017-09-26 08:54
I am probably hitting Portugal next month or so, to test the waters
aka
2017-09-26 08:55
yeah, water is usually the same over the year, oceans do not get warmer or hotter that easily
aka
2017-09-26 08:56
but the business/economical waters are still, almost frozen
maxsuur
2017-09-26 09:09
Let's how it goes.
roman
2017-09-26 11:53
You can also check the Azores. It?s also part of Portugal. But situated in between North America and Europe. It?s a bit of a villag-y vibe. But very peaceful and the nature is stunning. If you are a nature person then you?ll be in heaven. Internet is super fast there too as the underwater cable passes thru. I think it was even cheaper than mainland.
roman
2017-09-26 11:54
@roman uploaded a file: https://freedomsurfer.slack.com/files/U4LJFKJTV/F7A07JN0P/image_uploaded_from_ios.jpg
roman
2017-09-26 11:55
@roman uploaded a file: https://freedomsurfer.slack.com/files/U4LJFKJTV/F78QUUL3V/image_uploaded_from_ios.jpg
maxsuur
2017-09-26 11:57
@roman beautiful landscape though
andra_korb
2017-09-26 16:43
has joined #residency
aka
2017-09-27 09:32
paradise
aka
2017-09-27 09:32
island taxes, incorporation and etc is cheaper
aka
2017-09-27 09:32
but not very sustainable if you need to get things done swiftly
haralabob2
2017-09-28 08:17
has joined #residency
maxsuur
2017-09-30 15:50
This is veeeery interesting
maxsuur
2017-09-30 15:50
@maxsuur uploaded a file: https://freedomsurfer.slack.com/files/U1FB1A0NM/F7BD24R3L/image_uploaded_from_ios.jpg
rtiagm
2017-09-30 15:55
That's nice but $2500/m for the cheapest plan
maxsuur
2017-09-30 15:59
The concept is what I like
harvie
2017-09-30 16:19
good concept not sure if it will work in practice or interest nomads who live in Asia. For $1200 ALL in I can live like a baller in Bangkok in a really nice 1 bed.
danz
2017-09-30 23:58
Exactly, the concept is good but for this price I don?t many DN would do it.
millnmd
2017-10-01 00:54
@stoplight Seems like Montenegro could be the cheapest EU permanent residence if its acquired before accession. https://www.b92.net/eng/news/world.php?yyyy=2017&mm=09&dd=14&nav_id=102321
stoplight
2017-10-01 08:34
@millnmd yes..that?s what they?ve been trying to push since last year?
stoplight
2017-10-01 08:39
Following the success of Malta & Cyprus?many nations that are applying to the EU are establishing their own programs now?
stoplight
2017-10-01 08:40
main proponent of the Montenegro program is Henley & Partners, the largest citizenship & residency consultancy firm in the world?who spearheaded the Malta program?.they?re also assholes?but that?s just my personal opinion? :joy:
http://investmentmigration.org/event-item/special-investor-program-montenegro/
mikeseo
2017-10-02 07:32
Which cities do you guys like in Malaysia as a place a live? Been to Penang and liked it, planning on Kuching next, any other cities to put on the list?
pragmatic
2017-10-02 10:32
Does anyone know if Georgia has a tax-treaty with USA for reducing withholding rates on US source income under 30%? According to one of the comments here: http://nomadcapitalist.com/2016/05/17/pay-less-through-tax-residency-georgia/ (sorry for linking to NC), "The 1973 tax treaty means the IRS withholds 0% of U.S. earnings from Georgian tax residents instead of 30%." - he is referring to the USA - USSR tax treaty here.
The treaty is listed here: https://www.irs.gov/businesses/international-businesses/georgia-tax-treaty-documents
pragmatic
2017-10-02 10:33
Under Article 3:
1. The following categories of income derived from sources within one Contracting State by a
resident of the other Contracting State shall be subject to tax only in that other Contracting State:
and it lists rent, royalties, income, etc etc
pragmatic
2017-10-02 10:34
However, when you check here for example: https://www.irs.gov/pub/irs-utl/Tax_Treaty_Table_1.pdf I do not see Georgia listed?
roman
2017-10-02 11:04
Kuching was meh. Kota Kinabalu was more fun.
alexanderhay
2017-10-02 14:51
No.
alexanderhay
2017-10-02 14:52
Well for all intents and purposes no. The old Soviet Union tax treaty from the 1970s is still in force, but it is pretty much useless unless you are a ballet dancer visiting for a performance.
silviu_ruj
2017-10-06 17:27
has joined #residency
rwinorganization
2017-10-08 11:11
has joined #residency
usman
2017-10-15 16:22
has joined #residency
alex.bosyj
2017-10-17 15:23
has joined #residency
ggiampieri
2017-10-19 03:06
has joined #residency
jor.acker
2017-10-22 16:13
has joined #residency
ivan
2017-10-22 18:34
has joined #residency
bountybairn
2017-10-26 20:20
has joined #residency
me1
2017-10-30 07:31
has joined #residency
jeanpaul
2017-10-31 06:24
has joined #residency
adiviz1
2017-11-04 12:45
has joined #residency
philippe
2017-11-05 18:26
Hello, I need a new address for bulgaria ?long term residency? card, any suggestion ?
philippe
2017-11-05 18:45
Apparently the rules are getting harsher now.
globalconsulteurope
2017-11-07 06:58
I am dealing with Bulgarian cases. Can help you with yours.
mescos
2017-11-09 16:43
@millnmd @rtiagm:
Have you guys ever met someone that has successfully obtained Chile citizenship? It would be good to get some data points going here.
I know of two people who applied for Chilean citizenship after 5 years. Both have been waiting for over TWO years and it is still dragging on. And, both lived in Chile consistently for those 5 years.
Makes you wonder how a person who only spends 1 day per year in Chile is going to successfully obtain citizenship - if those who have strong ties to the country can?t even successfully obtain it within 2 years of applying?
rtiagm
2017-11-10 08:47
I?m not pursued Chile anymore
rtiagm
2017-11-10 08:48
Pursuing
stoplight
2017-11-10 11:19
like any ?non-standard? residency program, meaning the laws are in place but a concrete system is a gray area?these things will drag on depending on the whim of the government agencies that deal with them?
stoplight
2017-11-10 11:23
Even the residency programs which have thousands of applicants like Canada, Australia, New Zealand & UK already have concrete structures that have the necessary requirements, time on the ground, etc. before you can acquire citizenship yet they still have issues in them as well. So how much more for countries which are not used to easily granting their citizenship through residency?
bombine
2017-11-11 22:44
has joined #residency
onlinesale2003
2017-11-15 07:08
has joined #residency
andrei_adam2001
2017-11-20 11:57
has joined #residency
bwings.office
2017-11-23 10:38
has joined #residency
ahl
2017-11-27 08:14
has joined #residency
mathieu.bouvier
2017-11-30 02:25
has joined #residency
mathieu.bouvier
2017-11-30 05:39
Been hunting for help online to setup my georgia residency, i gathered three names, any of you have experience with them? If not do you recommend someone you worked with that set yours up smoothly?
Bobby casey
Andy galt
Mike snyder from flagtheory
cbf
2017-11-30 20:07
has joined #residency
mark24
2017-12-02 23:58
has joined #residency
pablesque
2017-12-03 14:35
has joined #residency
maxsuur
2017-12-03 15:55
Bobby Casey seems legit
maxsuur
2017-12-03 15:56
Just dont go the Andrew Henderson route for god's sake
mathieu.bouvier
2017-12-04 00:49
Whos andrew?
mathieu.bouvier
2017-12-04 00:49
I talked to bobby but his quote was very expensive and had to decline
mathieu.bouvier
2017-12-04 00:49
I have a phone cal schedule with andy tonight
mikeseo
2017-12-04 04:26
why not search on google and email a few georgia lawyers directly instead of going through a middle man?
maxsuur
2017-12-04 05:04
@alexanderhay is also infield
ggiampieri
2017-12-04 15:52
@mathieu.bouvier you don't need middleman. Just show up at the public hall, opposite to it there are companies that give you local address. Bank branches are inside the hall. You need to open a company, open bank account, put 3000$, then go with all documents to the lady at the counter, get your ticket number...wait.. talk to the lady, get your id. You can do it in few days!
ahl
2017-12-05 19:37
Hey any one have experience with "nomadcapitalist"?
ahl
2017-12-06 11:41
Is someone used the Panama ?Friendly Nations program ?? Did the EU recognize it? Or Germany will still ask me for tax
danz
2017-12-06 14:19
If you going to live there and get residency you should be fine
rtiagm
2017-12-07 08:25
Has anyone obtained the Thai Elite visa?
pristinegems4c
2017-12-11 17:05
has joined #residency
diamantino.ferreira
2017-12-13 19:00
has joined #residency
globalkibo
2017-12-17 10:35
has joined #residency
alex.bosyj
2017-12-18 00:54
Are there countries where I can obtain tax residency while not living there most of the time?
roman
2017-12-18 11:41
I think Labuan
pragmatic
2017-12-18 12:33
UAE
alex.bosyj
2017-12-18 14:50
but I still have to be out of my country for 182 days for this to work? (in my country that's the condition to count as tax resident) Or not necessarily?
maxsuur
2017-12-18 20:15
Paraguay/Panama
dfmanagement
2017-12-19 12:18
has joined #residency
pragmatic
2017-12-20 12:40
Yes
ivan
2017-12-21 14:55
Guys has any of you resided in Uruguay or Chile? Was wondering if there are risks of an IBC being declared pass-through in those countries during the tax exempt period. And how hard is to get the residence.
bifton1
2017-12-30 08:23
has joined #residency
rachel
2017-12-30 15:50
has joined #residency
ciorbaadrian82
2018-01-02 23:37
has joined #residency
franc.feliu
2018-01-03 11:24
has joined #residency
it.consultant.experti
2018-01-05 13:09
has joined #residency
dfmanagement
2018-01-05 23:05
If you like to exit from the German taxation system, you can not just cancel your registration to an offshore or low tax country. The Tax office will never accept that. There is some grace period of something with two years. To exit, you need to deregister and mention on the registration you move to some country like Spain, Bulgaria, Chech, Estonia, UK .... After this move, you just deregister from there and register in your low tax heaven. Like Panama, Gibraltar (has a unique resident program) , Dubai, Malaysia whatever is pretty.
mescos
2018-01-09 16:32
@alex.bosyj - where are you currently a resident?
alex.bosyj
2018-01-10 00:14
@mescos in ukraine
mescos
2018-01-10 12:57
Question for Canadian non-residents living outside of Canada/US: what do you say to customs if/when you need to travel to the US for business meetings? Do you need any official letters? What do you say to the customs officials? Are you allowed to go for meetings without a visa?
roman
2018-01-10 18:17
IANAL but to go to Canada you never need a visa if you are a citizen. You can?t even get one.
roman
2018-01-10 18:18
For US I was told that Canadians don?t need visa for meetings. But no work can happen inside US.
roman
2018-01-10 18:18
Even writing one line of code for US client is work.
roman
2018-01-10 18:19
So you can fly in, meet, fly out and do work.
geoffrey.theodule
2018-01-11 17:16
has joined #residency
petrus.luijpers
2018-01-13 23:29
has joined #residency
jor.acker
2018-01-16 11:14
Is a 1 year working holliday visa enough to change residency (for that period at least) with a one month lease contract in that country ?
Or it's needed to spend a certain amount of time as well ? (basically i would want to make the visa change my residency then leave that country, i don't intend to stay)
jase
2018-01-16 19:43
Depends on where you are coming from Jordan
jase
2018-01-16 19:44
Take Australia for example, you can leave, declare you are now a non resident for tax purposes in Australia, go to HK, get residency there and travel the world for 10 years. Then return to Australia and they slap you with a tax bill.
jase
2018-01-16 19:45
Because Australia requires you to have your domicile in HK. Meaning you should have a home there the whole time. And cut as many ties with Aus as possible.
jase
2018-01-16 19:45
But different countries have different laws... Some are much easier to leave than others.
jor.acker
2018-01-17 16:58
Yea true i didnt precise, i'm from france
I guess yea hoping that the non residency will stay forever seems like a bad idea, should be fine for the one year of the working holliday i guess but still not 100% safe
timpetch
2018-01-18 10:24
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thesimitch
2018-01-19 05:54
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smuft84
2018-01-20 22:11
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stolzlos
2018-01-21 16:09
does anybody have a good read in regard to obtaining (tax) residency in HK? thanks.
smuft84
2018-01-21 17:28
I don't have a read but I've looked into it a fair bit myself and it's quite hard to get residency there. The easiest way is if you have skills that cannot be readily found in Hong Kong and a company wants to hire you. Other ways are entrepreneur visa but only so many of these are given out per year and requires >1m$+ investment. There is no "capital investment" type visa anymore, they were done away with a few years ago. Also you can marry and get tax residency :slightly_smiling_face:
smuft84
2018-01-21 17:29
HK is doing quite well so they do not not make it easy for foreigners to get visas or open bank accounts in their country anymore, they dont need them.
danielabagnale
2018-01-25 10:03
Are there any EU citizens here that have gotten residency in Malta? I would love to talk to you. Thanks
stolzlos
2018-01-25 10:33
Thanks @smuft84
ivo
2018-01-25 11:03
@danielabagnale I have
bitesak
2018-01-25 16:53
Has anyone gone through the Spanish residency program through the entrepreunarial visa?
ivan
2018-01-25 20:56
Hi guys, I've been planning on moving to Chile for their residency program. I'm part of the Mercosur which makes it even easier. They have this 3 years tax exemption for foreign income. Have any of you used a similar exemption? I've seen similar ones in other countries. Will they work if I manage an IBC or LLC offering services in other countries other than Chile? Won't they argue the companies are managed in Chile or something like that? How safe is to assume I can declare the companies in the country and they'll still apply the exemptions?
mcdonald.ben
2018-01-25 23:47
has joined #residency
mcdonald.ben
2018-01-25 23:57
Anyone achieved a Macau residency through this method? Register a company, acquire work permit to live and work in Macau through the company. -> https://www.freedomsurfer.com/residency-opportunities-outside-the-box/
mcdonald.ben
2018-01-26 02:02
There is also UAE residency, not required to spend much time in the country "The UAE resident is only obliged to visit the UAE every 6 months for 1 ? 2 days." https://taxresidencyuae.com/
rtiagm
2018-01-26 16:00
Anyone have news regarding the Thai Smart visa ?
mikeseo
2018-01-27 05:29
rtiagm
2018-01-27 07:15
Thanks @mikeseo
rtiagm
2018-01-27 07:16
Curious how taxation would work if you get the visa based on the 200k a month
rtiagm
2018-01-27 07:16
Will it depend on the time someone spends in the country?
rtiagm
2018-01-27 07:17
Especially if the income is foreign sourced
mrblonde
2018-01-27 11:58
thanks for the share @mikeseo
ivan
2018-01-28 14:10
Guys, I've been checking my countries' law and it states that a resident loses his tax residence after obtaining a permanent residence in other country or being away from the country for 12 + months. I was considering obtaining a residence in Chile but my main goal is simply traveling around with my family. I've read in the past that there's no such thing as no residence nowadays but looks like my country laws would allow for such a thing. Any feedback on this?
smuft84
2018-01-28 14:49
"residency" or "non-residency" is specific to your own countries laws
smuft84
2018-01-28 14:49
usually the tax authority in your country will define what it means to be a tax resident or not
ivan
2018-01-28 16:54
Thanks @smuft84. So most of the time it's something decided in an audit. Has any of you tried to travel perpetually without permanent residence somewhere? Many processes ask for a verified address, is there a cheap way to solve that in the cases they ask for utility bills and so on?
stoplight
2018-01-28 20:26
@ivan depending on your home country..proving tax residency in another jurisdiction can be tedious?have you tried consulting with a tax professional from your home country?
ivan
2018-01-29 10:20
@stoplight thanks. I haven't yet but planning to. According to the law it would be possible to lose it by leaving the country for more than 12 months. So I'm curious if that's a common law among countries and if the government respect that or make it hard to prove it.
rtiagm
2018-01-29 11:22
@ivan If you can tell, what?s your home country?
ivan
2018-01-29 11:24
Argentina
ivan
2018-01-29 11:24
@rtiagm
millnmd
2018-01-30 05:51
@mcdonald.ben That is to Maintain the UAE residency permit (all GCC have the same requirement, must not be absent for a single trip longer than 6 months so 2 days in country a year is only needed) but that isn't the same as getting a Tax domicile Certificate they want you to be in the country for 183 days and yes it is one of the requirements to request it. Also it is easy to get an permit there you just need to get a free zone company and many have no book keeping and trading requirements.
mcdonald.ben
2018-01-30 06:43
Thanks for the clarification on that millnmd . Important difference
millnmd
2018-01-30 06:46
no problem
patjk
2018-01-30 15:30
Anyone here get bonafide residency in Thailand?
marius.pellegrini
2018-01-31 10:15
has joined #residency
manishwalia53
2018-02-01 05:24
has joined #residency
stoplight
2018-02-01 07:15
@ivan it may be in the law but it?s possible that its not automatic?you may have to do filing and all that?would still suggest consulting a tax professional in your home country?
millnmd
2018-02-01 08:32
Anybody here get Mexican Permanent Residency?
ivan
2018-02-01 11:23
@stoplight, thanks. Will do
danz
2018-02-01 16:00
@millnmd, not permanent. But just received temporary residency. Permanent shouldn?t be that difficult I think.
millnmd
2018-02-02 04:15
@danz Did you start the process at a Consulate/Embassy or inside Mexico?
danz
2018-02-02 16:52
You have to start it in your country of citizenship I believe, that?s what I did. You can?t start it in Mexico, that changed a couple of years ago
maxsuur
2018-02-02 18:29
I got Mexican temporary residency visa as a student a while ago
maxsuur
2018-02-02 18:32
Then it unfortunately expired and at the time I did not have the knowledge nor the resources to convert it into a permanent one. Anyways, if you're planning on staying in Mexico, you can remain within the country as a tourist for 6 months, then do a visa run to the US or Guatemala or whatever, wait a couple of hours, and re-enter the country once againg. Then you're granted another 6 months. You can do this indefinitely. This is how a lot of Argentinians are living and working (under the radar) in Playa del Carmen.
maxsuur
2018-02-02 18:33
Mexico has one of the most generous tourist visa regimes in that regard I have seen. Been there and done that. Quite bothersome getting into a 12h-bus to Laredo (Texas) just for the visa. But.. no pain, no gain. :wink:
millnmd
2018-02-02 22:16
I've been hesitant because of the ease of Tourist visas and they make you jump through hoops if you are a TR or PR for bring over a foreign plated car. I probably wouldn't need to but that might be an issue one day if I rent a car in a border state and drive down.
millnmd
2018-02-02 23:18
But it would be a great way to future proof if they decide to not allow Visa runs.
ivan
2018-02-03 16:00
@maxsuur are you living in Playa del Carmen? I was considering moving there or somewhere in Brazil for a couple of monhs in march.
maxsuur
2018-02-03 18:02
I spent nine days back in 2004. Amazing vibes. Probably had I stayed there I'd be dead by now. Too much party, alcohol and madness all around. haha. But worth checking it out. I loved Tulum, though, less fast-paced and wonderful beaches. @ivan
pragmatic
2018-02-03 22:48
@millnmd I've been told that you only need to maintain your visa, (ie, visit every 6 months) to be eligible for UAE tax residency certificate
johncitizen
2018-02-04 02:34
I?m big into cave diving and go to Playa/Tulum once a year.
johncitizen
2018-02-04 02:34
I?d love to just move there for good, but my work moves around
maxsuur
2018-02-04 08:29
I've had that thought sooo many times
maxsuur
2018-02-04 08:30
I heard the story of one Spanish Architect in his mid 40s who made the move and never looked back. Tulum is truly a paradise on earth.
johncitizen
2018-02-04 08:33
Yes
millnmd
2018-02-07 02:39
@pragmatic The info i wrote above is what I've been told so I could be wrong. But I do know that 1 day every 6 months is the requirement to maintain the Permit. Also on the UAE website it says "individuals: to be resident in the state 180 days at least" and "A report from the General Directorate of Residency and Foreigners Affairs specifying the number of days the resident has stayed in the UAE." . I could be wrong, maybe holding the permit is the proof of days spent in county? Hopefully I am because it would make a great residence permit+company combo. https://www.mof.gov.ae/en/mservices/VTAX/Pages/ServiceCardTax.aspx
travelosopher
2018-02-07 02:39
has joined #residency
pragmatic
2018-02-07 15:43
@millnmd where does it say: "individuals: to be resident in the state 180 days at least"
pragmatic
2018-02-07 15:43
I don't see that on the link you sent
pragmatic
2018-02-07 15:53
@millnmd about 9 months ago, this was email I received from a UAE based firm that does incorporation and residencies
pragmatic
2018-02-07 15:53
"Please note that today UAE considers individual a tax resident, when the latter holds a resident visa and Emirates ID.
As such, when local authority refers ?to being a resident for 180 days?, they mean that you need to hold a resident visa for 180 days and not to reside in the country.
We assisted our clients with tax domicile certificates on a number of occasions and in none of the cases clients had to stay for 180 days in the country."
pragmatic
2018-02-07 15:53
I can't promise they are not lying though :slightly_smiling_face:
millnmd
2018-02-07 20:24
@pragmatic after going to the link, click the "Requirements & Paperwork" Tab. Thats great news, I originally though this is how it worked but was told otherwise and after seeing the "resident for 180 days" I have been unsure because that could been physical residency or just holding a permit. Thanks for clarification.:slightly_smiling_face:
rtiagm
2018-02-08 06:39
If I get this right, to be tax resident in the UAE one only needs to open a free zone company and spend 2 days per year in the country?
danz
2018-02-08 17:10
I think that?s correct
pragmatic
2018-02-08 22:38
not two days per year, at least one day every 6 months
rtiagm
2018-02-09 05:39
Ok, that sounds interesting. Is there any accounting requirements for the company?
millnmd
2018-02-09 05:58
I was told Sharjah Media(SHAMS) doesn't require book keeping.
millnmd
2018-02-09 06:00
@millnmd uploaded a file: https://freedomsurfer.slack.com/files/U5XQPFFUH/F96JKC05T/image1.jpeg
millnmd
2018-02-09 06:00
@millnmd uploaded a file: https://freedomsurfer.slack.com/files/U5XQPFFUH/F95R9MAFJ/image3.jpeg
millnmd
2018-02-09 06:00
@millnmd uploaded a file: https://freedomsurfer.slack.com/files/U5XQPFFUH/F95UA6NG1/image4.jpeg
millnmd
2018-02-09 06:19
From what I noticed most people get "freelance permits" from Shams and don't do any business activity or accounting. As long as you pay the annual fee your good.
millnmd
2018-02-09 06:24
Also the common practise for people who just want a permit is to get multiple people (min 3) to be share holders in one shell company and split the cost of the annual fee. For Example 1 Company + 1 visa = 3675 USD or 1 Company + 3 visa = 5853USD(1951USD each) or 1 Company + 6 visa = 7187USD (1197 USD Each).
millnmd
2018-02-09 06:44
If you want a UAE company it would make most sense to do this for the tax residence and get a Rak offshore 9000 AED (2400USD). You save about1400USD With the offshore, so it would only cost about 500USD to get the permit if its split 3 way. Seems pretty good as long as you wouldn't be utilizing the benefits of a Onshore which seems like the case. :smiley:
millnmd
2018-02-09 06:49
Renewal for RAK Offshore seems to be around 2000 USD.
millnmd
2018-02-09 06:52
Just realized Simon has some info on this. https://www.freedomsurfer.com/rak-offshore/
rtiagm
2018-02-09 07:30
Thanks @millnmd
rtiagm
2018-02-09 07:31
Did you form your company already?
rtiagm
2018-02-09 07:31
I need to read more on this. Sounds promising for my case
millnmd
2018-02-09 07:33
@rtiagm No problem :smiley: and No, I have some family living there as Expats running a business.
millnmd
2018-02-09 07:37
The benefit of UAE is it would be a nice place to spend some time there as a destination its self or while traveling between destination since its so well located.
mcdonald.ben
2018-02-09 07:40
UAE looks appealing as you only need to visit 2 times a year
rtiagm
2018-02-09 07:42
How do offshore banks look at UAE when someone claims to be a tax resident there? Do they ask for proof, such as having a tax certificate?
millnmd
2018-02-09 07:51
Heres a good quick breakdown of the Banking, Legal and Political seen in Dubai. https://www.youtube.com/watch?v=aEs1uOzt3KM
mcdonald.ben
2018-02-09 07:54
https://www.freedomsurfer.com/uae/ -> freedomsurfer link about UAE residency
millnmd
2018-02-09 08:00
In the link, my relative was telling me the 2 year visa is only if you buy a property in Dubai, if it in any other emirate they give you a 6 months visa renewable.
millnmd
2018-02-09 08:17
@rtiagm for the tax certificate, maybe since they use the 6 month rule (technically from the discussion on this channel they don't care about time spent on soil) I would assume your previous tax residence would apply until you qualify since UAE don't consider you a tax resident until you have a permit for longer than 6 months. Also for how it would be perceived, idk how banks would view but I know they are a CRS country. Lastly since there is such huge expat population, most western Tax authorities should be alright with just the tax certificate.
mcdonald.ben
2018-02-09 09:16
It was previously mentioned in the chat that losing your current tax residency is specific to your current country. They each have different criteria for residency
rtiagm
2018-02-09 12:22
In the article, it mentions "The UAE is a true tax haven. There is no personal income tax, capital gains tax or any other tax (except for a real property stamp duty). It is important to note, however, that to benefit from this lack of taxation you must be a UAE tax resident. This means spending at least 180 days in-country every year." I assume based on the previous conversation that this not accurate.
rtiagm
2018-02-09 12:36
"In most cases, however, you can count on having to contribute at least 70000 AED in share capital and pay up to 40000 AED in fees during the first year. " --- Is this necessary for a freelancer permit?
millnmd
2018-02-09 21:47
No, every free-zone has its own rules. All free-zone in Dubai need a Office while the ones in other emirates have different requirements. For example I believe any FZC in Sharjah needs a Flexible desk (Hot Desking) as minimum, which is one factor why its cheaper.
millnmd
2018-02-09 21:49
I think even the Fujairah free zone allows that.
millnmd
2018-02-09 21:59
From what pragmatic was told from an agent, What they mean by " to be resident in the state 180 days at least" is to holder of a Residence Permit for that time. The date of issue of the permit would need to be 180 days prior, from what I understand.
vinodgn0088
2018-02-11 12:14
has joined #residency
burrup.lambert
2018-02-12 11:21
has joined #residency
stoplight
2018-02-16 05:30
For those intending to go the Dubai residency route?in my opinion?RAK is still the best option in terms of cost. I know they even have an office in Dubai. A quick phone call straight to their office would be the best solution to all your queries. :slightly_smiling_face:
https://www.rakez.com/
burrup.lambert
2018-02-16 06:08
Thanks for link. Has anyone had any experience in UAE regards to opening a bank account or RAK LLC with an Emirates ID card that is approaching expiration or is only valid for 1 year? I will be working there later this year and as far as I'm aware I will receive a 1 year validity Emirates ID card. Looking to take the opportunity to open some accounts in a longer term plan to leave my current home country and begin planting some flags.
danz
2018-02-16 14:10
No experience, but I contacted several banks there for more information there. There are big differences in the minimum deposits you have to look at.
rp_vpnet
2018-02-18 07:10
has joined #residency
burrup.lambert
2018-02-18 10:46
What size minimum deposits are we looking at?
pragmatic
2018-02-18 15:18
@stoplight Do you know if UAE and/or RAK has any regulations about virtual currencies? And would UAE banks be happy to open an account for a company that deals with virtual currencies?
pragmatic
2018-02-18 15:18
I know it's pretty much impossible for US banks
ca
2018-02-18 18:34
has joined #residency
danz
2018-02-18 23:51
Depending from 5k to 100k
stoplight
2018-02-20 06:25
@pragmatic the UAE is pretty open in many business ideals. I believe, as long as it doesn?t fall under ?haram? it should be ok. :slightly_smiling_face:
dustdancer
2018-02-23 02:04
has joined #residency
augustas
2018-02-23 17:49
has joined #residency
ledrewy
2018-02-24 01:51
has joined #residency
madtruckers
2018-02-24 09:44
has joined #residency
piotrstelmach
2018-02-25 15:00
has joined #residency
freedom
2018-02-26 05:34
has joined #residency
augustas
2018-02-27 17:14
Hi, is there anyone living in Cyprus as a tax resident? I am looking for information on what types of businesses Cyprus residence can register and what are associated taxes? Anyone has a good resource about that or has knowledge?
Thanks
maxsuur
2018-02-28 09:39
you greek?
thy
2018-02-28 23:49
has joined #residency
augustas
2018-03-04 05:39
no
anemariaconcepts
2018-03-05 14:19
has joined #residency
ec9731a
2018-03-08 08:39
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julienplefebvre
2018-03-08 13:26
has joined #residency
mart.herndz
2018-03-08 15:30
has joined #residency
sacrifice24-10-91
2018-03-14 01:59
has joined #residency
paul.budny
2018-03-14 13:41
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freedomsurfer140
2018-03-14 16:29
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sacrifice24-10-91
2018-03-15 18:02
Hi everyone I'm looking for countries where I can become tax resident and build stronger connections than my home country. Also countries with no CFC laws and territorial tax. I've been looking myself but my options seem to be pretty limited. I will be working remotely for my own company. I was really interested in Thailand but I've read you cant claim a work permit as a remote worker and I'm not sure without it could I claim tax residency there over my domicile. Has anyone any alternative suggestions I could look at or has any familiarity with a similar situation
iulian.florescu91
2018-03-15 19:08
has joined #residency
stoplight
2018-03-15 21:01
@sacrifice24-10-91 whats your home country?
sacrifice24-10-91
2018-03-15 21:02
@stoplight Ireland
stoplight
2018-03-15 21:04
Southeast Asia is your cheaper option?but be prepared for red tape?weather it be Thailand, Philippines, Cambodia or Myanmar?you can ?eventually? claim some type of ?tax? residency?but you will need local help 100% sure?
stoplight
2018-03-15 21:05
A more straightforward option would be the UAE?they are used to doing this?have a good standard of living, reputable banks, etc..good place for expats as well..
stoplight
2018-03-15 21:09
You can of course just go ahead get another citizenship altogether?say in Vanuatu or the Caribbean..which will also get you access to ?easier? residency on the ground?and are all territorial taxation countries?
stoplight
2018-03-15 21:09
IMHO the challenge really is proving to Ireland?
stoplight
2018-03-15 21:09
your new domicile.
sacrifice24-10-91
2018-03-15 21:13
I own no property and I'm planning on selling my car and anything else before I leave, once I get set up somewhere I'll also close my bank account down. Will that be enough to claim tax resident in another country if I become resident there?
thy
2018-03-15 21:25
@sacrifice24-10-91 what about Georgia? :)
stoplight
2018-03-15 21:34
@sacrifice24-10-91 I?m unsure if you?re new country gives a damn hoot what you have in your other country?their major concern is their own country?claiming tax residency will affect their own laws and not your home country?that means jack shit to them.. :slightly_smiling_face:
stoplight
2018-03-15 21:35
Yes Georgia is another option you can take. Easier for you as well since its Europe too?but just like Southeast Asia?you WILL need local help.
sacrifice24-10-91
2018-03-15 21:36
I mean more so that my own country can't claim tax if I do that and I claim tax residency somewhere else as I'll have stronger ties. I'll still need to claim tax residency in the new country I go to
sacrifice24-10-91
2018-03-15 21:38
Georgia is an option sure just trying to find all out what countries I have options for, getting tax residency somewhere without CFC laws is the important thing for me and having stronger ties there than my own country where I'll have severed all ties by the time I leave
stoplight
2018-03-15 21:38
Uhmm?I don?t think it works that way that easily?try to do further research.. :slightly_smiling_face: ?just dropping everything you own and leaving isn?t just cutting off ties to your old country?which again..you have to PROVE to them in your new country?again..like anything?people here suggest talking to a tax specialist in your home country.
stoplight
2018-03-15 21:40
The process differs in each country?.but the basis is the same?.as long as you were born there?and actually renounce your citizenship?you are liable for whatever in your home country whether you can prove to them your ties are all gone or not?some laws ?keep? you home..even if you?re physically and financially away?
stoplight
2018-03-15 21:42
That?s why UAE is the best route even if it?s not the cheapest?.because their process is much more streamlined than in other countries?and getting tax residency forms are relatively easier?and proving to Ireland in the process would be the same as well?of course being ?tax free? and all is also a plus.
sacrifice24-10-91
2018-03-15 21:48
I have talked to an tax specialist in Ireland, he said if I removed my ties and am aiming to leave the country permanently my goal should be to claim stronger ties somewhere else, such as becoming tax resident, paying rent, health insurance, maybe a car stuff like that the more ties the better. He said there's no need to renounce my citizenship or anything like that. So I understand what I need to do from an Irish perspective, it's just finding a place where I can build those ties running a remote company, which has territorial tax, no CFC laws and where I become tax resident. It seems to be difficult to become tax resident in certain places as a remote worker though. UAE would be a bit too expensive for me living cost wise, Thailand would be ideal or somewhere similar but you can only get a tourist visa there not tax residency as I understand if you're working remotely for yourself, although you have said there's a way if you can find someone local? Thanks for all the info so far appreciate it!
stoplight
2018-03-15 21:54
Well if it?s simple as showing a tax residency certificate to Ireland then you can pretty much live anywhere.. :slightly_smiling_face: ?if you?re looking at Thailand..then suggest flying there?if you haven?t already?.live like a local for at least 2-3 months so you would know if it will fit you?in the process?find some other expats and know how they?ve done it?many have done it there?finding local knowledge is really the best way? :slightly_smiling_face:
stoplight
2018-03-15 21:59
Same goes for Georgia or other places you?re thinking of?all these places are great ?in theory??but may not fit the glove for everyone?I know of Europeans and Americans who have called Fiji their home and fly well under the radar? :slightly_smiling_face: ?but living in Fiji isn?t easy?but it?s also fantastic?as you?ve got the entire South Pacific as your play ground and with Fiji Airways offering flights to the U.S?some direct I think even?being half way in the middle of the ocean is party everyday kind of thing.. :smile:
rtiagm
2018-03-16 08:27
If you have the funds buy the Elite Thai Visa. Rent a place for 6 months or 1 year, then after 6 months request a tax Id and pay a couple of bath of tax for money brought to the country while you lived there.
jase
2018-03-17 10:11
@sacrifice24-10-91 are you planning to live permanently in this new location or sort of make it home tax base and never spend time there? If it's the latter, you may find it difficult (I don't have experience with Ireland though). Originally I planned to do this in Panama - get residency, bank account and an apartment but only spend ~3 months a year there.
It became clear that Australia expected me to spend more time there which I didn't want to do (Panama isn't my dream place to be).
For this reason I ended up in Andorra where I basically live year round, using it as my home base, travelling to everywhere from here. I wrote a heap about it here: https://jaserodley.com/living-in-andorra/
rtiagm
2018-03-17 15:45
@jase Curious, after you have changed your Australian status to non resident, how do they check if you spend x amount of time in a given place? Do you have Australian sourced income?
rtiagm
2018-03-17 15:46
Unless you plan to go back, then I guess they might ask questions.
jase
2018-03-17 20:16
@rtiagm This is the trap I feel so many fall into. They stop paying tax in Australia and assume all is well until they return a decade later and the tax man says "yep, you owe us". No news is not necessarily good news.
As far as I am aware, the only way to get around this is to:
1. do everything in your power to prove you are a non-resident (but you still run the risk)
2. get a private ruling https://www.ato.gov.au/General/ATO-advice-and-guidance/ATO-advice-products-(rulings)/Private-rulings/
Overall it is proven by completing the following:
get residency somewhere else
get a long term lease in that place
spend the majority of your time in that place
minimise your time in Australia, certainly under 183 days
when visiting Australia, make sure to tell immigration you are visiting as a tourist, not "returning home"
change your bank accounts to your overseas address and use them for investment purposes only
cancel your credit cards
cancel your drivers license
cancel your membership to any clubs/associations in Australia
notify the tax office that you are filling out your last tax return
ideally, stop doing business in Australia/with Australian businesses
pay tax in your new country of residence
make sure you are leaving for an extended period of time - ideally ~5 years
Not all of these are required, but a critical mass is.
sacrifice24-10-91
2018-03-17 20:48
Thanks a lot everyone for the advice so far really appreciate it! @jase I have the exact same issue you've hit the nail on the head! I need to build all the connections like you said and live in a specific country to gain tax residency. Your article on Andorra is great and while I'd definitely consider it as an option in the future I'm looking for somewhere with a big city that has a lot of people and entertainment if I'm going to be living there and resident for at least six months a year for the foreseeable at least. Do you know what other options there are? At the moment I have Panama, Georgia and Andorra that I know of, like you living in Panama doesn't really appeal to me. I'd like to be able to travel around for half the year and have a home base to go back to.
johncitizen
2018-03-17 20:58
@sacrifice24-10-91 you need to always maintain a home base for the ATO to believe you are a foreign resident. You can travel, just always have a steady stream of paperwork to prove you have a house somewhere you are maintaining
sacrifice24-10-91
2018-03-17 21:06
Sure @johncitizen I get that. I'm just trying to build a list of countries I have options to gain residency in that are low tax or zero tax if I'm running my business from an offshore company
sacrifice24-10-91
2018-03-17 21:07
I would have to stay somewhere for approx 6 months of the year like @jase said
mikeseo
2018-03-18 01:38
@sacrifice24-10-91 ya skip Panama, it's lame. What about Bangkok with an elite visa?
sacrifice24-10-91
2018-03-18 01:46
I looked into it @mikeseo but from what I've found its basically still an elaborate tourist visa, you still can't get a tax cert for remote work for an offshore company
mikeseo
2018-03-18 02:01
oh dang, maybe KL? Not really as fun and exciting as Bangkok... But you can start a Labuan company, get a 2yr work permit, rent a appt, office, and employee in Labuan, live in KL and visit Labuan a few times a year, $6000/yr in tax maximum
mikeseo
2018-03-18 02:22
do you specifically need a tax cert for your company or maybe you can just pay a little bit of tax in Thailand from some investment income? https://www.thaivisa.com/forum/topic/723144-i-require-a-thai-tax-residency-certificate/
jase
2018-03-18 08:22
Yep @sacrifice24-10-91 Malaysia was a strong possibility for us too. We were looking at Penang but KL would be prime if you want a big city. Great for travel too.
ozdemir_can
2018-03-18 10:46
has joined #residency
jd
2018-03-20 01:48
@johncitizen Regarding establishing a ?home base? with regards to Australian tax residency, would securing Panama residency through their friendly nation?s visa, and then establishing a home in Thailand on tourist and education visas suffice to be non-tax resident in Australia (as long as ties have been properly severed)?
jd
2018-03-20 01:53
Hi Jase,
I?ve been speaking to http://Wealthsafe.com.au and wanted a second opinion. They?ve advised that properly severing ties with Australia, gaining tax residency in Panama and spending virtually no time there would suffice as a non-tax resident in Australia. As long as ties have been severed in the right way.
Would you agree with this? Interested in your experience
johncitizen
2018-03-20 04:31
@jd that would be over complicating it. You really do need to have permanent residency or temp residency and be working towards establishing roots and a domicile.
johncitizen
2018-03-20 04:31
An investigator is going to ask why you aren?t living in Panama if your residency is there
johncitizen
2018-03-20 04:32
Can you get an employment visa or investor visa?
jd
2018-03-20 04:47
@johncitizen Thanks for your reply. I know I can get the Thai Elite visa, but I believe that is considered a tourist visa - so may revert back to Australian residency? That?s why I was thinking - regardless of the visa, perhaps having Panama residency would be the fallback elsewhere
jd
2018-03-20 04:47
I?ll look into the other Thai visa classes
jd
2018-03-20 05:20
To throw another idea out there - I am eligible to apply for South Africa citizenship as I was born there, but grew up in Australia. Would it this help in any way to remove tax residency?
johncitizen
2018-03-20 06:31
Maybe
johncitizen
2018-03-20 06:42
Certainly gives you many more options
mcdonald.ben
2018-03-21 09:37
For residency you can look at your previous country's tax departments website for information. New Zealand lists three ways you can be a resident. And the last one that many other countries share is "A permanent place of abode in ...". Which is vague. NZ tax website has a optional form you can fill out to understand if you have a "A permanent place of abode in New Zealand". It lists many different ways you can be tied to the country (family and social ties, economic ties, intentions, benefits, pensions and other payments). If your country has something similar it would help you understand how they evaluate this.
chris2224
2018-03-21 13:21
has joined #residency
jase
2018-03-21 18:05
:slightly_smiling_face: I've sent Warren some money before. I am not a tax lawyer, he is. However as a tax payer wanting to stay compliant, I'd suggest you'd need to sever ALL ties to Australia, and really establish yourself in Panama to make it work... Full time apartment, banking, join clubs, travel to/from "home" in Panama, etc.
robert.mihaila01
2018-03-26 21:08
has joined #residency
robert.gryphes
2018-03-28 16:25
has joined #residency
hozgur
2018-03-30 15:43
has joined #residency
philhech7
2018-03-30 18:06
has joined #residency
iamvaillancourt
2018-04-01 02:42
has joined #residency
tha.siva
2018-04-01 09:45
has joined #residency
pragmatic
2018-04-05 15:18
I wondering what countries allow you to have (low) tax residency without needing to prove significant ties, or stay for at least 6 months in the year. In other words, a good base for someone that wants to spent most of the year travelling wherever they want. This is what I've come up with:
UAE: Need to establish freezone company (Costs $8-15k per year) and visit once per 6 months.
Malta Global Residency Program: can't spent more than 183 days in any other country, needs to pay minimum 15k tax per year, needs to own a home, or rent for at least 10k/year.
Georgia: High Net worth individuals (Must have earned at least about $85k in any of past 3 years), and must have at least $11k Georgia source income, no minimum stay requirement.
Monaco: Needs to stay at least 3 months a year (although, being in Schengen zone, I guess it's hard to prove otherwise as long as you spent 3 months in Schengen), need local bank account with $1,000,000, and apartment in Monaco.
aka
2018-04-05 15:27
there was also some portuguese one
aka
2018-04-05 15:28
portuguese non habitual tax resident regime
pragmatic
2018-04-05 15:29
@aka Any individual who becomes Portuguese tax resident in accordance with Portuguese Law i.e. who has his habitual residence in Portugal or who spends more than 183 days in Portugal in the tax year, which runs from 1st January to 31st December or has a dwelling in Portugal at 31 December of that year with the intention to hold it as his habitual residence
pragmatic
2018-04-05 15:29
That wouldn't meet my "without needing to prove significant ties, or stay for at least 6 months in the year. "
aka
2018-04-05 15:30
yeah no short terms
danz
2018-04-05 15:39
@pragmatic, Mexico would work to I believe, but temporary up to 4 years so not a permanent solution.
prietonicolas
2018-04-05 15:51
has joined #residency
jase
2018-04-05 16:21
@pragmatic a passive resident in Andorra needs 3 months. https://jaserodley.com/living-in-andorra/
jase
2018-04-05 16:22
Panama might be an option, but whether you can spend any time there will depend on what you're looking for
maxsuur
2018-04-05 16:25
Malta: there's this programme for EU citizens, which is far less expensive and time intensive
Paraguay: 5k USD retrievable deposit into a state-owned bank and set foot once every 2-3 years, you're all set.
maxsuur
2018-04-05 16:26
Panama: Friendly Nations Visa Program
pragmatic
2018-04-05 16:26
@maxsuur For the Ordinary Residence you need to be in Malta 6 months (or center of vital interests)
pragmatic
2018-04-05 16:26
@jase source for the 3 month thing?
pragmatic
2018-04-05 16:27
@maxsuur @jase Panama, as far as I can tell, is 6 months/center of interests for tax residency
maxsuur
2018-04-05 16:27
@pragmatic I believe it is less than 6 months (at least after the second year on)
maxsuur
2018-04-05 16:27
And, Malta's authorities are quite lax about it, as far as I am concerned
pragmatic
2018-04-05 16:27
Is that what you are doing?
maxsuur
2018-04-05 16:28
I live in Spain
maxsuur
2018-04-05 16:28
But I know people who're doing it in those countries, and I plan to in the near future
maxsuur
2018-04-05 16:29
in some of those countries mentioned above
jase
2018-04-05 16:32
every passive resident I know, tax lawyers, government
jase
2018-04-05 16:33
Where are you from @pragmatic?
pragmatic
2018-04-05 16:34
Same as you @jase but I was tax resident in the US for a year, and in Europe for last year
jase
2018-04-05 16:34
As a citizen of said country, your problem is likely not that of the country you're getting residency in, it's that of your home country.
jase
2018-04-05 16:35
Realistically in Andorra, if you move here and begin paying tax, they don't care if you spend 3 months here, as they get the income. The only thing they care about is having another tax authority cause trouble for them.
jase
2018-04-05 16:36
However, say if you spent 3 months a year in Andorra, had a load of ties here and 0 in your previous country of residence, then spend 9 months a year travelling.. chances are your home country still has a good argument in court that you need to pay tax there.
jase
2018-04-05 16:36
It was a bitter pill to swallow, but ultimately convinced me to spend the bulk of my year here
stolzlos
2018-04-05 16:47
@jase if your native country is such a tax risk, would it not be better to simply get rid of your passport?
jase
2018-04-05 16:48
Well, not for me as I can prove residence elsewhere
jase
2018-04-05 16:48
IMO getting rid of a passport is madness unless you're from the USA
jase
2018-04-05 16:48
Or a criminal :joy:
stolzlos
2018-04-05 16:50
in our times it feels like that any proper citizen trying to reduce the tax burden is automatically considered a criminal unless proven otherwise
jase
2018-04-05 16:50
Good call
stolzlos
2018-04-05 16:50
but I get what you say
stolzlos
2018-04-05 16:53
I mean I am not in your situation, at least not yet, but the risk that the authorities of your native country can screw you would keeps me thinking whether it would not be better to get rid of your passport. Why do you think it is madness? Costs? The hassle?
jase
2018-04-05 16:53
Frankly, it's an excellent passport
stolzlos
2018-04-05 16:53
access wise I assume
jase
2018-04-05 16:53
Well first and foremost I'm still working on a second passport
jase
2018-04-05 16:54
But still - why give away a passport before having a problem?
jase
2018-04-05 16:54
Even if I had a second passport, why give it up now before there is a problem (which I am confident there won't be as my affairs are in order)?
jase
2018-04-05 16:55
Not only this, just because you don't have a passport from that country doesn't mean you aren't liable for taxes. My family still lives in that country, so I still want to visit rather than be arrested at the border, regardless of the passport I'm travelling on.
jase
2018-04-05 16:56
I'm all for thinking outside the box in life but when it comes to stuff like this I want to play by the rules. Because the freedom I would lose by not playing by the rules isn't worth it to me.
stolzlos
2018-04-05 16:57
well, yes. I agree.
stolzlos
2018-04-05 16:57
it just feels like such an unnecessary hassle. But then again, these are the rules.
jase
2018-04-05 16:57
Now that I'm on the other side of the hurdle, I don't feel this stuff is so hard.
jase
2018-04-05 16:57
But yes, I had many frustrating years
stolzlos
2018-04-05 16:58
looking forward on being on the other side. Not looking forward getting there.
stolzlos
2018-04-05 16:59
thanks
danz
2018-04-05 17:11
The process is frustating for those kind of things, but once you get there it rewards itself:)
ivan
2018-04-05 20:14
What about moving to some of the countries listed above, residing there for the bulk of the year until your previous fiscal residency accepts your residency change and then start traveling around? For my current residence country the law says 12 months outside the country without intentions of coming back or a permanent residence somewhere else. What I heard from local attorneys is that it's not so simple and the local tax department will try to defend its case, hence the removing of all connections to the country like bank accounts, etc, etc. You still can visit for 3 months a year in theory. But once the government accepts your new fiscal residency I would guess it's over.
ivan
2018-04-05 20:15
@jase there's no way to confirm on the residency loss for you?
rtiagm
2018-04-06 03:51
Not exactly true. Last time I was there, they were getting stricter with the requirements.
jase
2018-04-06 10:54
You can get what is called a "private ruling" @ivan I haven't pursued it but may be an option for people with less clear scenarios
ivan
2018-04-06 11:01
So I guess there's ways in which one can lose his residency status and then switch to traveling more from a homebase in a place like Panama or whatever.
The other day I was reading about business' fiscal residency. Basically what they look into for considering a business owes taxes in a specific country. And some countries could technically ask for income taxes on your business if you are the only director and operate from there for just a couple of months based on those laws. I guess in paper things look more terrible than they usually are because I can hardly see that happening.
jase
2018-04-06 11:06
Exactly @ivan, IF I wanted to be a PT (I travel too slow now) and was a resident of a high tax country that keeps a close eye on my affairs, I'd probably "lose" my tax residency by living in a place like Panama for 2-3 years.... Have a house there, bank there, own a car there, etc. Sever all ties to my home country. THEN become a PT.
jase
2018-04-06 11:06
It's a royal PITA but I'd think it would be the clearer way of doing it long term.
ivan
2018-04-06 11:11
Good info, thanks @jase.
jd
2018-04-07 01:21
Hey guys,
Has anyone taken up, or have info on the Panama Friendly Nations Visa using a Teak Plantation investment? Apparently can be secured for $20K.
stoplight
2018-04-07 04:54
@pragmatic I would also suggest Paraguay as a nice place to plant a residency flag. You can get residency easily and quite affordably. By creating local ties such as purchasing a lot which you can resell later and make some income or opening up a small business which you can do remotely, you can make some good money on the side. After doing this for a number of years, you can put up a case and apply for citizenship to receive your second passport. All without staying there permanently. Taxes are pretty ok depending on the local business you do.
stoplight
2018-04-07 04:57
You can also do Southeast Asia. Many folks here have connected well in Thailand and they have done well there, local residency, taxes and all. You can also go for the Philippines, they have a retirement residency visa that accepts ?retirees? as young as 35. As long as you can prove you have income elsewhere, you can be a retiree. Retirees can also ?work? such as consultants, etc. thereby paying local tax, etc.
kl5340dc
2018-04-07 06:07
I just found something that looks a little too good to be true
kl5340dc
2018-04-07 06:09
https://www.juridique.jp/business/foreigncompany.php
Representative office in Japan. The foreign company sends you to Japan to do market research. You open local representative office for this. That local company grants you access to visa to stay in japan. You receive salary from that local company and pay taxes on that salary (minimal of course). The parent company is untouched.
kl5340dc
2018-04-07 06:09
Thoughts?
rtiagm
2018-04-07 06:36
@kl5340dc be aware that he parent company needs to meet certain requirements. Not huge though. I have that information in an email somewhere. I will try to dig it up. Also the minimum salary I think it?s 250,000 and you have to pay pension and health insurance. You might get away with the last 2
kl5340dc
2018-04-07 07:24
25000usd a year minimum salary?
rtiagm
2018-04-07 08:28
250,000 yen a month
rtiagm
2018-04-07 08:29
Yeah, I guess it's around 25k a year.
rtiagm
2018-04-07 08:29
You will need to have a dedicated office space.
jase
2018-04-07 10:42
Why would you bother? Loads more expensive than normal Friendly Nations Visa. AFAIK there's no upside unless you aren't eligible for FNV.
jd
2018-04-07 22:56
Hi Jase,
There are now reporting requirements for corporations, I thought this would be an easy way to avoid.
Have you gone through the process?
jase
2018-04-08 07:26
I haven't. Reporting costs would be negligible no?
amrthewrestler
2018-04-08 16:04
has joined #residency
maxsuur
2018-04-08 18:57
At least they used to be. Things change quite rapidly in the offshore world.
pabloaura
2018-04-09 09:27
has joined #residency
markamerling
2018-04-14 17:19
has joined #residency
millnmd
2018-04-17 15:50
Does Paraguay PR allow visa free to Mercosur countries? @stoplight
ivan
2018-04-17 16:43
@millnmd, not 100% sure but it should. I live in a Mercosur country so I know a little bit about it. Basically there's a visa called Mercosur Visa, I've studied it because I was thinking of migrating to either Chile or Uruguay. Let me know if you need to know more about it. I imagine you just wish to travel around instead of changing your residence, tho.
ivan
2018-04-17 16:44
You can travel without visas within Mercosur countries by using your DNI only.
ivan
2018-04-17 16:44
It's similar to EU.
millnmd
2018-04-17 19:02
@ivan thanks I was looking into for two reasons, First and main reason is that it is a good tax residency with no Physical Residence requirement like panama and similar cost to panama. Secondly, it possibly allows Citizenship in three years with some ties like what was mentioned above but as a Mercosur Citizen it could open up business & property opportunities across South America.
ivan
2018-04-17 19:04
You probably can do those same businesses without being part of the Mercosur. Beyond that, it's very easy to get and keep. Paraguay is very corrupt, tho, which can be a good thing or a bad thing, depending on what you're trying to do.
ivan
2018-04-17 19:04
Costs are way cheaper than Panama, tho.
ivan
2018-04-17 19:04
It's one of the cheapest countries in Latin America
millnmd
2018-04-17 19:06
how much would the fees be for paraguay?
millnmd
2018-04-17 19:06
other than the $5000 deposit.
ivan
2018-04-17 19:07
You mean the fees for an immigration agent?
millnmd
2018-04-17 19:07
yeah
maxsuur
2018-04-17 19:08
Well, if you know Spanish you could everything yourself
maxsuur
2018-04-17 19:08
Or have someone in the ground help you out
millnmd
2018-04-17 19:12
I don't know spanish, also don't know anyone in paraguay. Would the savings of getting a spanish translator be worth it over a agent?
maxsuur
2018-04-17 19:15
I'd get an agent in your case
maxsuur
2018-04-17 19:15
@stoplight knows someone there
maxsuur
2018-04-17 19:16
She was very helpful on Skype when she talked to me. I didn't go through with the residency plan though.
millnmd
2018-04-17 19:17
Did you go with a different residency?
ivan
2018-04-17 19:25
Usually the fees for countries in the region vary from 2k to 10k per individual. I'd suggest using a reputable agent as well. As I said the country has high levels of corruption so it'll be safer to hire someone who is taking care of the process.
ivan
2018-04-17 19:25
I can't recommend anyone, tho.
ivan
2018-04-17 19:26
I looked into it myself a couple of years ago.
millnmd
2018-04-17 19:40
Thanks @ivan @maxsuur
ivan
2018-04-17 19:45
No problem!
ivan
2018-04-17 19:46
If you need any info on Latin America in general I'll be happy to help. I'm argentinian so I know a bit about the surrounding countries and its policies.
millnmd
2018-04-17 21:41
@ivan whats the likelihood of being able to get paraguayan citizenship with minimal physical residence?
ivan
2018-04-17 22:03
Based on the rumors and word of mouth I heard, it's very doable. Specially since the borders in Paraguay are a joke (can guarantee that). It's so easy to get in and out of the country unnoticed that all you have to do is leave the country via Brazil without ever registering the exit. So on paper you never left the country but in reality you are 2000 miles away.
About a decade ago during a backpacking travel to Brazil I wanted to visit Paraguay's "Triple Frontera" which connects Paraguay, Brazil and Argentina. It's a hub for black commerce in the region, prices are crazy cheap. The place is a bit scary as well, tho: Lots of hired guys everywhere with shotguns and thieves. Long story short, I ended up crossing the border from Paraguay to Brazil without registering the entry to Brazil, and that was by mistake. The border is that much of joke, and that was crossing it via the legal way.
The place is also famous for how easy it's to cross a river and get to another country. Most fugitives in Argentina end up in Paraguay.
That considered, Asuncion is gaining a better reputation lately. And crime is supposedly lower than in Buenos Aires. It's still a very poor country, tho.
ivan
2018-04-17 22:04
@millnmd
ivan
2018-04-17 22:05
I'm sure most immigration agents will offer you advice on how leave the country. You probably just have to hire some services to your name in some specific address and pay the bills during that year.
ivan
2018-04-17 22:05
For the citizenship you'll probably need to speak spanish.
millnmd
2018-04-17 22:15
Wow thats very good news
millnmd
2018-04-17 22:17
but what happens when you naturalize and your passport has stamps leaving brazil?
ivan
2018-04-17 22:19
That's a good question. I'd guess I'd try using the Paraguayan passport for entering Paraguay and whatever other passport you have for leaving Brazil, Argentina or whatever other country you leave from.
ivan
2018-04-17 22:19
Paraguay has borders with several countries.
ivan
2018-04-17 22:21
I read about people doing that same thing for hiding they have more than one passport. Many countries don't like that. I don't know if Paraguay is okay with you having dual citizenship. I'd assume they're okay with it.
ivan
2018-04-17 22:24
Also consider Mercosur doesn't ask you for your passport when moving around Mercosur countries. Just remembered that bit.
ivan
2018-04-17 22:24
So you won't be getting any stamps on it.
ivan
2018-04-17 22:25
ID will be enough.
mikeseo
2018-04-18 01:48
I paid a Paraguay lawyer $1800 and another $1000 in govt fees and deposited $5000 in the bank. I met a German living there and they said I could of done it easily for a couple hundred myself if I spoke Spanish. I used Jeronimo Finestra http://www.paraguayresidency.com/ but his website doesn't work anymore and he doesn't reply to emails either so I dunno what happened to him. He had told me that citizenship would cost maybe $15k in bribes and a $30k investment.
mikeseo
2018-04-18 01:50
I wouldn't do Paraguay again unless you really need to get a new passport, Panama residency seems much more legit and live-able but less likely to get a passport.
maxsuur
2018-04-18 10:16
@jase I entered a country that doesn't exist (Trasnistria) once, without having my passport checked or stamped. When I tried to exit the border, the officer got me off the bus and put me in a small cubicle because I had illegally entered the country. After a lot of gibberish and mutual misunderstanding I pull out my wallet and gave him 3 USD, said "spasiba" which means (thank you), the moustached-guy smile and I was back on the bus, with my heart beating a 10000mph. Then back into Moldova, and then Romania. Erasmus life would go on just fine. I was merely 24 yrs old at the time.
maxsuur
2018-04-18 10:17
""random""" just got an idea. Did you guys read that book "Bye Bye Big Brother" by Grandpa?
maxsuur
2018-04-18 10:17
Those are all stories from various folks who lived (or even still living a PT life)
maxsuur
2018-04-18 10:18
It'd be awesome to share our stories anonymously and then publish them into an ebook to inspire and encourage other would-be location-independent fellas
maxsuur
2018-04-18 10:19
It'd be a nice Lead Magnet for Simon, though. Publish on Kindle and get a lot of traffic to the site.
maxsuur
2018-04-18 10:19
@simon
ivan
2018-04-18 10:46
Yes, if you speak spanish you can do all of that almost for free for sure (except for the 5k deposit) in theory. But I bet the people handling all of that in immigration receives bribes from the agents constantly and sure as hell they know what you're up to so they might make your life harder than usual, not sure. The amount of money those lawyers are charging is huge for a country where the average salary is USD 350 and that business is on the raise in Paraguay. They're not only getting first world citizens trying to avoid taxes but mostly rich people from the surrounding countries.
ivan
2018-04-18 10:51
I think it's slowly replacing Uruguay
ivan
2018-04-18 10:51
Which used to be the local tax haven.
ivan
2018-04-18 10:58
@maxsuur, well, I had to hide in the bus when I left Brazil because I didn't have any papers, the argentinian driver was kind enough to let me. But things could have totally gone the same way they did for you. I was told it was a 100 USD fine here for that, which is probably just a bribe..
ivan
2018-04-18 10:58
That book would definitely be a fun read.
jase
2018-04-18 20:50
Reminds me of a book I read in Panama about a guy living in Thailand. It was basically 300 pages of laced vodka red bulls, full moon parties, sketchy visa runs, bribes, the odd ladyboy and what not.
jase
2018-04-18 20:50
Not usually my kind of book, but there was no internet and I had nowhere to be except in a hammock.
jase
2018-04-18 20:50
No clue what it was called though!
nikolay
2018-04-19 04:57
has joined #residency
maxsuur
2018-04-19 07:01
Did anyone go through the Non-habitual-residency scheme in Portugal?
erik.stromberg
2018-04-21 03:28
has joined #residency
ivan
2018-04-21 17:59
@maxsuur, nope but I would like to look into it. Any reading you can recommend? I was just reading the article SImon wrote about Spain and sounds interesting. I'm not clear about the exact off-shore structure he recommends to apply for the non-resident taxation, you have to own less than 25% of the business?
tkrunning
2018-04-22 12:06
@maxsuur I have a few friends who just got the status this year. Anything in particular you?d like to know?
maxsuur
2018-04-22 12:38
The overall process.
n321
2018-05-05 06:01
has joined #residency
freedomsurfer140
2018-05-05 08:38
I have gone through the teak process many years ago, but agree with Jase above that Friendly Nations is cheaper, easier and better. The "better" part comes from them including a work permit, which used to be a separate, expensive process.
pedrodemendez
2018-05-06 07:53
pedrodemendez
2018-05-06 07:53
Permanent Resident in PH
pedrodemendez
2018-05-06 07:54
It gives you status of resident alien, taxable only on PH sourced income
stolzlos
2018-05-06 07:57
thanks
stolzlos
2018-05-06 07:58
350 USD for permanent residency? I understand that correctly?
pedrodemendez
2018-05-06 07:58
and a whole lot of working and waiting
pedrodemendez
2018-05-06 07:58
that is just the fee to BI,
pedrodemendez
2018-05-06 07:59
You need health certificate, blood tests, nbi clearance, preferably ACR card, bank certificate which states you have 2.5M peso in a PH bank account.
pedrodemendez
2018-05-06 07:59
and birthcertificate and police report from your own country
pedrodemendez
2018-05-06 08:00
and i included diploma's and 3 reference letters describing my person and experience
stolzlos
2018-05-06 08:03
thanks, I see. Looks manageable. So you got yours already? Or in process?
pedrodemendez
2018-05-06 08:03
got mine
pedrodemendez
2018-05-06 08:04
you can use a lawyer as well.. cost about 475-500000 peso..
stolzlos
2018-05-06 08:04
good to know
ibbyazam
2018-05-10 07:51
has joined #residency
matt
2018-05-16 03:57
has joined #residency
jd
2018-05-16 11:42
Thanks @freedomsurfer140
asarun72
2018-05-18 00:24
has joined #residency
vs301991
2018-05-20 07:29
has joined #residency
jd
2018-05-20 13:25
@mikeseo and crew - I?m an Australian looking at Panam� or Paraguay residency. Essentially cutting tax ties with Australia, gaining new tax residency then living in Thailand.
Can anyone outline whether Panam� or Paraguay would be the most suitable option? I understand Paraguay only requires visits very 3 years to maintain residency. Panama seems to be more open and less corrupt.
Keen on anyone?s thoughts, or anyone who has gone through the programs.
ggiampieri
2018-05-20 14:20
@jd why not while living in Thailand..get residency as well! You just need working visa, very simple to get! You get the same benefits. Otherwise Panama is good option with PR, but you should buy property and have proper utility bills in place.
roman
2018-05-20 15:59
@ggiampieri but to get work visa in Thailand costs $. So essentially it?s like tax too. The only route I know is via the company that helps with that, but forget the name. Or do you know other ways?
burrup.lambert
2018-05-20 17:54
Let us know how it goes @jd! Fellow aussie also looking at bailing in the near future. Are you looking at obtaining a second citizenship, too? Any idea on how long it takes to become a non tax-resident of Australia? Will you go for a private ruling from the ATO?
ggiampieri
2018-05-20 19:08
@roman yes it does cost if you use an agency. But you can apply for by yourself and reapply every year.basically you apply for non immigrant B to have the right to look for a job. After a year you do it over again. https://www.tielandtothailand.com/easy-peasy-thai-visa-run-penang-malaysia/
http://www.thaiembassy.org/penang/contents/files/services-20140508-110623-169095.pdf
ggiampieri
2018-05-20 19:10
If you need agency support there's one in phuket town it should be 1000$ a year
ggiampieri
2018-05-20 19:12
Personally I think business is Asia centric and flying to south America just for visa is pointless. Panama is good if your government is not strict and you dont need to go to asian factories!
jd
2018-05-20 21:46
@ggiampieri Thanks for your reply!
I thought having Panama residency was a good backup in case we moved to Malaysia, Singapore and generally hopped around.
Would Thailand continually renew working visas if the only revenue out there was foreign sourced and thus not taxable? I?m presuming tax returns must be filled out each year, and you are generally treated as a local tax resident?
jd
2018-05-20 22:54
@burrup.lambert Hi John,
Not looking st second citizenship - I actually have access to South African citizenship to by birth if I apply, so will probably do this.
Time to become non-tax resident - I believe it?s more about cutting tax ties. See the following article for context:
https://flagtheory.com/tax-free-in-philippines/
I?ve been advised not to bother with private ATO ruling.
ggiampieri
2018-05-20 23:01
@jd you can remit a little bit of income and pay tax on that, just to make them happy. I am not sure how many times they renew the visa, but if you talk to an agency they assume you can do it 'forever' as basically you spend time=money into the country.
ggiampieri
2018-05-20 23:06
@jd if you plan to visit Malaysia and you have cash consider mm2h, 10 years visa. Probably one of the best options out there,you get interest onn your deposit, no fees and same side of the world! No stay requirements!
roman
2018-05-21 00:23
There?s also the Labuan option. Gives you the ability to live in Malaysia mainland.
roman
2018-05-21 00:25
@ggiampieri I was thinking like Igloo option. I don?t like the visa runs and the grey territory that comes with it. Especially bad for proving non-residence in home country.
mikeseo
2018-05-21 00:56
@jd I dunno specifically about the ATO but my guess is getting a Panama/Paraguay residency and not living there would be useless and make you look like a shady tax dodger.
It sounds like it's difficult to lose Australian tax residency and be a digital nomad moving around countries every few months. If you're making a lot of money than it might be worth settling in Thailand/Malaysia/Philippines, getting a resident visa and actually living there to have a more real looking situation for the ATO.
mikeseo
2018-05-21 00:58
That's maybe the one good thing about being a US citizen, we can easily be tax free (up to 100k) digital nomads without settling in 1 country.
jd
2018-05-21 01:16
@ggiampieri Thanks for he advice! Will definitely look into it.
@roman Iglu looks interesting, will check it out
@mikeseo Thanks for your take.
The advice I?m getting from an ex-ATO forensic tax guy (http://wealthsafe.com.au) is that it?s more important to sever tax ties with Australia, than where you are living.
My gut feel is that living in Thailand or Malaysia and paying some tax would be a good idea though!
mikeseo
2018-05-21 01:36
did the wealthsafe guy suggest you get paper residency in Panama/Paraguay and not actually live there?
jd
2018-05-21 01:49
@mikeseo He did, as long as tax ties were absolutely severed in Australia
jd
2018-05-21 01:49
Gym memberships, sell the car etc?
mikeseo
2018-05-21 02:41
maybe talk to a couple more AU international tax lawyers and see what they think
jd
2018-05-21 04:25
Sure - I think that?s a good idea @mikeseo
jd
2018-05-21 04:28
Hi @jase,
Missed your reply here and only just found it! Thanks, I agree with you man. The more I look into it, the more I?m unsure of whether the advice is correct. I would presume one would need to show ties elsewhere rather than a piece of paper showing residency
ggiampieri
2018-05-21 08:14
For Italy for example, beside cutting all ties, we must register at embassy. If you leave the country and move to another one we must do the same. If the embassy looks for you via phone or mail and cannot reach you, they put your residency back home, unless you show up to another embassy. But no tax cert, but most of the time, expecially in black listed countries, HK, panama, and others they ask for address and employment company. I guess this system is easier than other western countries, but still everything must be in place! But for example you start in one country, then down the road you move to a PR one like Malaysia and you should be fine! You can come and go from Malaysia with ID card, no stamps on passport and be wherever you want!
ggiampieri
2018-05-21 08:15
Panama has another trick like Australia, stamp when you get in, but no stamp when you get out...
ggiampieri
2018-05-21 08:16
Many italians living in Switzerland keep all the bills and receipts to show govt in case they bring you to court
ggiampieri
2018-05-21 08:17
Same applies for Monaco, so many licence plates in Milan...... :joy:
mikeseo
2018-05-21 09:06
@ggiampieri do you notice Italian citizens with Malta residency spending most of their time in Italy too?
ggiampieri
2018-05-21 09:26
Malta is red flag, I would not go there it is perfect place to get in trouble and you are stuck there then
ggiampieri
2018-05-21 09:27
Never seen any car from malta in the country, hard to say!
ggiampieri
2018-05-21 09:27
May cars from bulgaria, romania, portugal
michael
2018-05-22 00:08
has joined #residency
jase
2018-05-24 15:29
Andorra's cheaper residency program is changing slightly - only requires you to be in the country for 183 days now, BUT will require a ?15000 deposit (government bond). This could work out well for budget conscious nomads.
jase
2018-05-24 15:30
***that want a very legitimate residency.
maxsuur
2018-05-24 20:21
@jase thanks for sharing Mr. Jase :slightly_smiling_face:
vinodgn0088
2018-05-25 01:21
@jase, Any website url announcing this new change?
michael
2018-05-25 04:32
15000 deposit is very reasonable.
jase
2018-05-25 05:53
No @vinodgn0088 as the law hasn't changed yet. Everyone has told me different dates, but if you want residency without the bond I think there would be enough time to start the process now and get it done in time.
nikolay404
2018-05-25 18:33
has joined #residency
musso.bros
2018-05-25 21:29
has joined #residency
roman
2018-05-27 01:25
Used to be 50 per first applicant plus 15 for each thereafter, right? Now it?s just 15?
jase
2018-05-27 08:53
Different program - used to be ?0, now it's ?15k
michael
2018-05-27 11:55
haha.. ok, so it went up lol :stuck_out_tongue: still very reasonable.
freedomsurfer.com
2018-05-27 17:06
has joined #residency
roman
2018-05-27 17:15
What program is that? I didn?t know about any $0 options...
roman
2018-05-27 17:15
Is there still time to get in via free route?
jase
2018-05-27 17:40
Yep still doable. It's called "Compte Propi". Basically, you're self employed.
vinodgn0088
2018-05-29 05:10
I am planning to get a Portugal Citizenship by living there for 6 yrs on temporary residency permit. My idea is to move there on "Passive Income Visa" and then convert the visa to "Self Employed". I know that there are pros and cons.
vinodgn0088
2018-05-29 05:11
Pros: Low cost of living, Temperature levels are similar to where I live now, moderately high quality of living, easy to visit other European countries
vinodgn0088
2018-05-29 05:13
Cons: Taxes are a bit high even with NHR status, Internationally schooling is costly (not needed for now)
vinodgn0088
2018-05-29 05:17
I don't plan to live in Portugal forever. The idea is just to get a good passport and move to another country ( Like Andorra). Is there any better option for me? I don
vinodgn0088
2018-05-29 05:18
I don't want (don't have) millions to buy a property and get passport through it
mikeseo
2018-05-29 08:48
@vinodgn0088 why do you want an EU passport? What passport do you have now?
vinodgn0088
2018-05-29 10:38
@mikeseo, EU passport gives me opportunity to live/work/do business in 26 EU countries. I want to live an retire in a county where quality of life is good and want to give the same to my children ( planning). Getting a Portugal passport and moving to Andorra seems to be a good plan in all sense. I hold Indian passport and quality of life is getting worse day by day.
jase
2018-05-29 11:00
EU may not last the way Italy is going lol
mikeseo
2018-05-29 11:09
Did you already research that Portugal is the best EU country for the combination of attainable visa, fastest naturalization, and lowest tax?
You could buy a Caribbean passport for $100k and get visa free access to schengen for 3 months every 6 months and avoid EU taxes but that's not really a long term plan for the future...
Or move to Malaysia and get a visa with a Labuan corp/work permit and pay $6k/yr flat rate tax but still no tier1 passport naturalization path..
vinodgn0088
2018-05-29 11:10
@jase, Any better ideas for me?
mikeseo
2018-05-29 11:10
Did you already visit some countries in EU and did you like them? Did you visit AU/CA/US?
vinodgn0088
2018-05-29 11:11
@mikeseo, I am already using Labuan route. But it won't last like you think. Now they are forcing more and more rules and need to prove that your must reside in Labuan to do business.
vinodgn0088
2018-05-29 11:11
@mikeseo, I did visit Netherlands, Paris, Riga, Estonia
mikeseo
2018-05-29 11:12
you're willing to pay high taxes to live in NL/FR?
jase
2018-05-29 11:12
In theory the Panama route is a good one
jase
2018-05-29 11:13
Get residency there, don't actually live there, then claim your passport 5 years or so later (I forget the specifics)
jase
2018-05-29 11:13
But I doubt it is that easy in practice
vinodgn0088
2018-05-29 11:13
My plan is to compromise for 6yrs, get Portugal passport and then move to Andorra.
mikeseo
2018-05-29 11:13
ya I don't think Panama is realistic to get the passport like that
jase
2018-05-29 11:13
Yeah I'd think there are some tighter controls or untold numbers of bribes required
jase
2018-05-29 11:14
I know some people who have made it happen in Guatemala. In the end it was basically down to bribes
vinodgn0088
2018-05-29 11:14
But panama passport is good for those who already have tier1 passport.
mikeseo
2018-05-29 11:14
ya you need a longterm way to live in the 1st wordl
vinodgn0088
2018-05-29 11:16
I did consider Canada first. But, I won't fit in to the skilled migrant category. Business category is out of question for me as it requires bigger investments and local job creation blah blah
mikeseo
2018-05-29 11:16
did you verify that you can get that Portugal visa?
vinodgn0088
2018-05-29 11:17
Actually I did some research and looks like I can get it. Unless Portugal decide that an Indian guy is not good.
vinodgn0088
2018-05-29 11:18
There is an option in spain also. But that will cost be lot more in taxes as portugal offers a NHR scheme which allows me to save taxes on my interest income
vinodgn0088
2018-05-29 11:20
Where ever I go, I still have option to get a OCI card from India ( life time visa to enter and work in India - Last resort if all plans failed and I can't survive abroad)
vinodgn0088
2018-05-29 11:20
@mikeseo, Are you from Canada?
mikeseo
2018-05-29 11:20
does the NHR scheme count toward naturalization?
mikeseo
2018-05-29 11:20
US
mikeseo
2018-05-29 11:21
but once you get the US passport you're fucked.
vinodgn0088
2018-05-29 11:21
yes NHR count towards naturalization.
vinodgn0088
2018-05-29 11:21
Based on search results, many US, CAN, UK citizens are moving to Portugal
mikeseo
2018-05-29 11:22
are any Indians?
mikeseo
2018-05-29 11:22
there must be a reason why the Chinese have to pay 500k euros to get a visa there
mikeseo
2018-05-29 11:22
I assume they don't qualify for the passive income visa
vinodgn0088
2018-05-29 11:22
I haven't heard anyone moving on the route I chose or Golden Visa.
vinodgn0088
2018-05-29 11:23
Golden Visa offers more benefits. With that visa, you don't have to spend more days in Portugal
mikeseo
2018-05-29 11:23
if you haven't yet, maybe your next step is to confirm with a Portugal immigration lawyer that your plan will work
mikeseo
2018-05-29 11:23
but if you don't spend enoigh days in portugal... you can't get naturalized right?
vinodgn0088
2018-05-29 11:24
But the Passive Income Visa is like a standard ticket. You need to live more days and learn Portuguese to get naturalized
vinodgn0088
2018-05-29 11:24
I am planning to contact this firm
mikeseo
2018-05-29 11:25
cool
vinodgn0088
2018-05-29 11:25
@mikeseo, Where you live now?
mikeseo
2018-05-29 11:25
you'll prolly have to pay a few hundred bucks to get answers from a couple lawyers
mikeseo
2018-05-29 11:25
philippines
vinodgn0088
2018-05-29 11:26
How about the tax situation. You need to pay US even if you stay outside right?
mikeseo
2018-05-29 11:26
correct, although you can get the first 100k tax free if you stay outside the US for 11 months of the year
mikeseo
2018-05-29 11:26
i wouldn't try to get a US passport
mikeseo
2018-05-29 11:27
unless you want to live in the US
vinodgn0088
2018-05-29 11:27
Definitely I am not planning to get US passport
mikeseo
2018-05-29 11:27
:slightly_smiling_face:
mikeseo
2018-05-29 11:27
is there any kind of special visa for Indians to move to the UK?
mikeseo
2018-05-29 11:28
Estonia has just announced the first official visa for digital nomads. The permit will entitle such people to 365 days of working in Estonia, including 90 days? travel in the Schengen area of the European Union (EU). Since EU citizens can already move and work freely, it is aimed at people from further afield: from the United States, Asia and Latin America. It will be launched in January 2019.
http://www.scmp.com/magazines/post-magazine/long-reads/article/2146681/how-estonia-incubating-city-future-inviting
vinodgn0088
2018-05-29 11:29
I am not aware of any budget ones. There could be options if you want to invest big in UK
mikeseo
2018-05-29 11:29
Startup Estonia in the beginning of 2017, has received most applications from India, Russia, Ukraine, Pakistan and Turkey.
mikeseo
2018-05-29 11:30
really cold there....
vinodgn0088
2018-05-29 11:31
@mikeseo, I don't want to get Estonian passport as I need to spend like 10 years, then learn Estonian and extreme cold on winter. + Russia can invade it in 10min ( most likely they won't)
vinodgn0088
2018-05-29 11:32
@mikeseo, what type of visa you are using to stay in Philippines
mikeseo
2018-05-29 11:32
i got a permanent resident visa from marriage
vinodgn0088
2018-05-29 11:34
Oh. That's good.
mikeseo
2018-05-29 11:34
I want to move somewhere with a higher quality of living too
mikeseo
2018-05-29 11:35
@jase makes Andorra sound good
vinodgn0088
2018-05-29 11:35
Why don't you move to Andorra. I was planning to move straight to there, but 20 yrs to naturalization.
jase
2018-05-29 11:35
I always recommend visiting first - don't take my word for it, you may hate it here
jase
2018-05-29 11:36
But Alex (another FS member) visited after speaking with me, him and his family now live here
mikeseo
2018-05-29 11:37
if you have a EU passport, can you just move to Andorra or do you need to get a resident visa?
jase
2018-05-29 11:37
Need resident visa
jase
2018-05-29 11:37
Andorra is not part of the EU
vinodgn0088
2018-05-29 11:38
@mikeseo, There is a treaty between Andorra, France and Spain, you can freely move between those. But to do work you need permit
mikeseo
2018-05-29 11:38
if a non-citizen gives birth in Andorra do your children get citizenship?
vinodgn0088
2018-05-29 11:39
@mikeseo, Jases' son already got provisional passport. If he study in Andorra until 18, he can keep the passport
mikeseo
2018-05-29 11:40
so you could get your future children a tier1 passport that way?
jase
2018-05-29 11:40
@jase uploaded a file: https://freedomsurfer.slack.com/files/U1UMK6C3S/FAYKPLLES/img_20180529_133945.jpg
mikeseo
2018-05-29 11:40
and just get yourself a permanent residency
mikeseo
2018-05-29 11:40
:sunglasses:
vinodgn0088
2018-05-29 11:43
@mikeseo, yes thats an option for future children. But I need a good passport too. I still can't forget the HK Immigration staffs. They were treating me like I was there to steal their job.
mikeseo
2018-05-29 11:43
$100k caribbean passport?
jase
2018-05-29 11:43
Try being an Australian going to Canada :joy:
vinodgn0088
2018-05-29 11:43
@jase, :rolling_on_the_floor_laughing:
jase
2018-05-29 11:44
I took $3000USD cash out of Canada once
jase
2018-05-29 11:44
Was when we left Canada
jase
2018-05-29 11:44
It was like the kick in the ass "GTFO our country"
jase
2018-05-29 11:45
Never been treated so poorly by a government staffer
mikeseo
2018-05-29 11:46
:white_frowning_face:
vinodgn0088
2018-05-29 11:46
@jase, Was that the reason you decided not to go back to Canada
mikeseo
2018-05-29 11:46
my Philippines wife always has troubles going through US immigration
mikeseo
2018-05-29 11:46
first time they held her for an hour in some interrogation room
jase
2018-05-29 11:47
Climate, socialism, insane property prices, taxes
vinodgn0088
2018-05-29 11:48
@jase, Canada tax is like 25 to 29 % including social security coverage right?
jase
2018-05-29 11:48
Well, I loved BC
jase
2018-05-29 11:48
Which is the highest rate
jase
2018-05-29 11:49
Canada is one of those countries where if you live in the most miserable part of it you can lower your tax to "still twice as much as is reasonable"
mikeseo
2018-05-29 11:51
mikeseo
2018-05-29 11:51
Austria and Belgium ranked above Portugual
jase
2018-05-29 11:51
Montenegro?
jase
2018-05-29 11:51
500k
mikeseo
2018-05-29 11:52
possible to apply for Austrian citizenship by naturalization generally after 10 years of continuous residence in Austria
vinodgn0088
2018-05-29 11:52
With Portugal thats coming only to 6yrs
mikeseo
2018-05-29 11:52
to acquire citizenship through residence you must have been living in Belgium for five years
vinodgn0088
2018-05-29 11:53
Then again, who is going to give me a work permit in Austria :disappointed:
jase
2018-05-29 11:53
Portugal doesn't seem terrible
mikeseo
2018-05-29 11:53
After you have lived in Spain for five years you can apply for permanent residence and after 10 years you can apply for Spanish nationality
jase
2018-05-29 11:53
IIRC if you're willing to live in the Azores you get a flight pass - unlimited flights around the country for something like ?120/yr
vinodgn0088
2018-05-29 11:54
@mikeseo, I was considering spain first. Non-lucrative visa.
mikeseo
2018-05-29 11:54
Austria offers 10 different types of residency permit, none of which require investment in the country.
vinodgn0088
2018-05-29 11:55
But with portugal NHR, I can save taxes on Interest Income atleast
vinodgn0088
2018-05-29 11:55
I am considering cost of living also.
mikeseo
2018-05-29 11:55
I think Belgium has no capital gains tax?
mikeseo
2018-05-29 11:56
sounds like your next step is to call a couple Portugal lawyers
vinodgn0088
2018-05-29 11:57
I will continue to search further options and make a list
vinodgn0088
2018-05-29 11:57
So far on my list is Portugal, Spain
mikeseo
2018-05-29 11:57
are you going to pay more than $100k in tax in 6 years of living in Portugal?
mikeseo
2018-05-29 11:57
better to spend a couple hundred bucks to talk to a lawyer instead of researching and thinking for days...
mikeseo
2018-05-29 11:58
best to talk to 2-3 cuz they might say something different
vinodgn0088
2018-05-29 11:58
@mikeseo, I think thats the way to do it.
jase
2018-05-29 11:58
Yep if I was spending this sort of money I'd head to Canada - the business connections made there would be worth it over Portugal IMO
mikeseo
2018-05-29 12:13
@vinodgn0088 you're living in Malaysia now? How do you like it?
ggiampieri
2018-05-29 12:37
Slovenia and bulgaria might be worth a call as well. Andorra like Switzerland is a little piece of roman empire left who are not under EU dictatorship. You can tell from words written in passport too. I think EU would be good old style, this way is making me trow up. If you talk to normal people from any of the big countries they feel the same shit! AND old rulers in politics have no clue and just lick bankers butt!
ggiampieri
2018-05-29 12:38
I would move to Singapore... good weather great flights, own currency
vinodgn0088
2018-05-29 12:38
@mikeseo, I live in Johor and the cost of living is not bad. But the inflation is high and no one can live with a local salary. Property prices are rocketing and once you buy it, you can almost forget about reselling it in future. On top of all of this, they don't have a fixed rule for immigration. MM2H rules are constantly changing. Labuan visa renewal is also becoming hard as they no more like nomads.
vinodgn0088
2018-05-29 12:40
@ggiampieri, Singapore is good if you are a multi millionaire. I lived in Singapore for 4 years. If you want own car, a good condo etc, prices are not cheap. Also, to buy a car who need to bid for it. There is virtually no option left for normal PR by residency. if you can forkout 2.5 Million SGD, you can get a PR
vinodgn0088
2018-05-29 12:41
Those who apply for PR by residency is getting rejection letters without any reasons mentioned.
ggiampieri
2018-05-29 12:47
Sure it is super expensive, but as you said if you plan to work for some company might be worth the hassle. If after 4 years you think is it enough, come to madness europe, I won't stop you, but be ready to live in the oldest western continent with
ggiampieri
2018-05-29 12:48
All the downsides
vinodgn0088
2018-05-29 12:55
@ggiampieri, Which country you are based in ?
ggiampieri
2018-05-29 13:00
I roam around the crazy peninsula,coming to Asia very often. Remember people in EU live ok if they live at grandma house. If you live in any city and pretend to pay for rent and living a decent life forget about it. Few exceptions might be London and some nordic countries. My friend for example does consulting for Norway clients and lives in Serbia, with italy passport is easy enough to do. But salary and same city don't match well,unless you are supported from family. This is a trend I see everywhere. Different thing is you make money online and live in the iberic peninsula, I like it as well, no pollution good weather easy life!
vinodgn0088
2018-05-29 13:02
@ggiampieri, I don't plan to work for some company. But I plan to get a Tier 1 passport from Iberian side of EU and then move to Andorra. Which is stable and good. I left Singapore not only because of expense, there is no option for naturalization or permanent residency for normal people. There was such options before and was easy. Now days it not. If you don't have a PR education for kids could become a nightmare.
vinodgn0088
2018-05-29 13:02
I resided in Singapore by setting up a company and then applying for Employment pass as director.
ggiampieri
2018-05-29 13:08
Then if you can support yourself go for it, life is good there and you are well connected to the rest of the world. Those countries are good because you get all the tourists flights to nordic eu countries and it is easy to move. Housing is cheap, gasoline cheaper then other places. If you are used to asian city action, you might miss it. I like big city life as I am in my 30s, maybe in 10 years will be different.
vinodgn0088
2018-05-29 13:11
@ggiampieri, I am not fond of Big city life. I like nature and like some people around to social
vs301991
2018-05-29 13:18
@vinodgn0088 I'd highly suggest talking to reputated firm in Portugal before walking along that path, not all countries have naturalisation path as simple but rather beaurocratic. For example Spanish citizenship by marriage just requires you 1 year of tax residency in Spain to be eligible but in reality it's far from what's said in theory.
maxsuur
2018-05-29 14:02
Hi from the south of the iberic peninsula. reporting myself from there. What you said is mostly true.
jjlm
2018-05-29 14:59
I would say same thing as for Canada. Get out of Germany, cut off all ties, and make sure you can prove you're living in Panama for at least 6 months. This means collect rent, grocery, gas, restaurants bills paid with a card not cash. There is something called the RUC in Panama, like a tax residency certificate, which Canada might ask you for, as stated in the NR73. To get the RUC, you must show the collected bills. But not sure if they really can enforce anything. All of this is just "rules" and not laws. I have met people who simply left Canada with no ties, and that's it. But you need at least to have a resident status elswehere. Canada don't want you to leave, and they want to tax till you're dead and beyond.
michael
2018-05-29 15:01
+1
prietonicolas
2018-05-29 15:13
Hi I recently joined Freedomsurfer.
prietonicolas
2018-05-29 15:14
Anyone aver thought about just declaring your place of residence in a place without income tax, like UAE for example, just renting a virtual address there
prietonicolas
2018-05-29 15:15
Im lithuanian living in Spain/Lithuania
ggiampieri
2018-05-29 17:08
:)
mikeseo
2018-05-30 00:43
@vinodgn0088 so you put 4yrs in Singapore and they wouldn't give you PR and a clear path to naturalization? It would suck to put 5-6yrs into Portugal and than find out there's too much bureaucracy to get naturalized. If I was going to put in that many years and pay taxes than I would want to be sure there is a passport waiting for me at the end. Which means more of a well run country? Canada, Australia, Germany, Belgium, Netherland, nordics, etc? I asked my wife what countries her filipino friends who went abroad were able to get a passport from, she said Canada, Australia, US. If you have to apply for an Andorra residency regardless of EU citizenship, you might as well do 4-5yrs in Canada first to get your passport...
vinodgn0088
2018-05-30 01:34
@prietonicolas Without living in UAE 183days+ you won't get a tax residency certificate. And you need to hold a valid residency visa (not just a tourist visa)
vinodgn0088
2018-05-30 01:37
@mikeseo, I did consider Canada, New Zealand and Australia even before thinking about EU. But I am not sure if I can enter there through skilled migrant programs. The business/investor visa routes needs big investments and local job creation.
mikeseo
2018-05-30 04:27
@jase do you have to pay a social security tax in Andorra?
jase
2018-05-30 05:30
Yes @mikeseo, because of the type of residency I have. https://jaserodley.com/living-in-andorra/
mikeseo
2018-05-30 06:46
440 euro x 3 people = 1320 euro per month??
How much are you really paying for social tax for your family per month?
jase
2018-05-30 06:50
440*50%(discount) - currently it's around ?226
jase
2018-05-30 06:50
My wife and I both pay, but she will likely become a dependent of mine this year
jase
2018-05-30 06:50
My son is a dependent
jase
2018-05-30 06:50
So it is possible to have your whole family (including parents if they are dependents) covered for ?226
jase
2018-05-30 06:51
However once the company is earning more money this will increase to ?440... which to be honest I'm happy to pay
mikeseo
2018-05-30 07:06
the social tax covers all doctors visits and medical expenses? dentist?
if your wife and children don't have any income than they are dependents? so they don't have to pay any social tax?
mikeseo
2018-05-30 07:07
health insurance in the US for a family might be 800 euro a month...and that is only covers big accidents, $5000-10,000 deductible..
jase
2018-05-30 07:54
75% of elective stuff, 90% of emergencies/surgeries
jase
2018-05-30 07:55
Dependents are basically anyone who you are paying their way. Has nothing to do with their income.
jase
2018-05-30 07:55
My wife could have 100k in income from investments and still be a dependent
pedrodemendez
2018-05-30 09:19
@jase what if one was to go your route and establish a company in Andorra to get the visa. But also have a company abroad. How would interest and/or dividend income from that foreign company be taxed? I believe Andorra doesn't have a territorial tax regime?
mikeseo
2018-05-30 09:36
mikeseo
2018-05-30 09:38
http://crowehorwath.ad/sites/default/files/investment_in_andorra_english_0.pdf
"In the event that the controlled company is not a tax resident in the Principality
of Andorra, it must be subject to a tax that is similar to Corporate Tax"
mikeseo
2018-05-30 09:39
https://www.globallegalinsights.com/practice-areas/corporate-tax/global-legal-insights-corporate-tax-5th-ed/andorra
"not yet introducted any cfc..."
jase
2018-05-30 10:04
Can't comment. You are getting into the realm of customized tax advice. Too many variables
nchuprin
2018-05-30 11:28
has joined #residency
vinodgn0088
2018-05-30 13:34
@mikeseo, Having no CFC rules is not eliminating the corporate tax in Andorra. Andorra is taxing worldwide income and If your foreign company is managed from Andorra, its taxable in Andorra. Example, Estonian company owned/managed by a Single person and he is residing in Andorra. But still Andorra is offering 40000 EUR as tax free income for a couple. Anything over that you need to pay 10% tax.
mikeseo
2018-05-30 14:40
if they tax a controlled (inside Andorra) foreign corp, that would be a cfc rule...no? Or are cfc rules for something else like transfer pricing?
vinodgn0088
2018-05-30 14:43
@mikeseo, thats named place of effective management. And DTA will play a vital role.
jase
2018-05-30 16:11
There are plenty of options. For example: Creating a holding company in Andorra, which is taxed at 2%. Dividends then paid to a local resident are tax exempt as there is no double taxation. This holding company would then own the Estonian/HK/US/whatever company
vinodgn0088
2018-05-31 16:25
Can someone confirm if the idea mentioned by Simon on below given URL actually works or not.
michael
2018-06-01 07:23
Just had a read.. seems pretty legit to be classified as "passive income".. never needed to prove that I do have passive income. I am sure there are members on here who will be able to shed more knowledge on your Q.
jase
2018-06-01 10:22
I'd think it would be fairly easy to achieve in a lot of different ways
jase
2018-06-01 10:22
Company that pays dividends may suffice for example
jase
2018-06-01 10:23
Just needs to be set up so you're not paying tax or huge fees in transferring the money to/from
vinodgn0088
2018-06-01 10:38
@jase, If I show that I have monthly dividend income is there any chance that the Immigration/Govt department say that dividend income can't be treated as a permanent passive income. Dividends depends on performance of the company.
jase
2018-06-01 10:46
That sounds like a great question for the immigration departments of the specific counties you are wanting to move to.
sanderkocken
2018-06-04 10:33
has joined #residency
don.white
2018-06-04 14:02
has joined #residency
iamvaillancourt
2018-06-06 20:57
Hey all, hope all is well, I haven't had the time to catch up to all the new messages
iamvaillancourt
2018-06-06 20:57
Does anyone know what would be the fastest way to emigrate from Canada into a pretty much no tax zone for someone making a living online?
iamvaillancourt
2018-06-06 20:57
Like what country residency would I need to get
iamvaillancourt
2018-06-06 20:57
timeframe / etc probably a lot of people have done this
iamvaillancourt
2018-06-06 20:57
where I can bank, go live
iamvaillancourt
2018-06-06 20:57
I've read the entire website
iamvaillancourt
2018-06-06 20:58
Panama?
ggiampieri
2018-06-06 21:41
@iamvaillancourt It entirely depends on how you make money and where you like to live. What goods/service do you sell? How do customers pay you? Do you need a company? Where are you going to spend the money/time? How often do you travel? Have you visited the country/countries you might move to? Make a detailed plan first. It sounds like your business is not ready yet!
iamvaillancourt
2018-06-06 22:03
I sell services online mainly to customers in the US, and I can do it from anywhere in the world
iamvaillancourt
2018-06-06 22:03
have been living outside of canada for 5 years, just that my business is setup there
iamvaillancourt
2018-06-06 22:04
I can set it up anywhere in the world no problem as long as the country won't have problem
iamvaillancourt
2018-06-06 22:04
I just dunno how it works with foreign banks and stuff
iamvaillancourt
2018-06-06 22:04
and I'm very mobile and can travel all day long
iamvaillancourt
2018-06-06 22:04
all I need is a comp and an internet connection
iamvaillancourt
2018-06-06 22:05
Basically what I'm looking for is a country where I can setup my online business in, somewhere where I can have my bank account
iamvaillancourt
2018-06-06 22:05
then a permanent residency somewhere
iamvaillancourt
2018-06-06 22:05
so I can just leave Canada
iamvaillancourt
2018-06-06 22:05
I can live anywhere else
iamvaillancourt
2018-06-06 22:05
can be on tourists visa
iamvaillancourt
2018-06-06 22:05
can change places every 6 months
iamvaillancourt
2018-06-06 22:05
really don't care
iamvaillancourt
2018-06-06 22:05
Anyone else doing this?
iamvaillancourt
2018-06-06 22:05
or would be able to easily assist me?
iamvaillancourt
2018-06-06 22:05
great info btw in these slack channels and let me know what channels I should be asking this in :slightly_smiling_face:
ivan
2018-06-06 23:59
@iamvaillancourt, it's not clear to me if you want to be able to travel around all the time and pay little taxes or you would like to reside in a specific country. Being from Canada might make the prospect of living in an underdeveloped country a bit hard on the long-term. You'll need Canada to accept your fiscal residency change, that means that even if Panama accepts your residency and you only need to re-visit it one day to keep it, Canada might still demand you pay your income taxes there.
I'd suggest you speak with other canadian (there are several here) or a canadian tax attorney about the exact requirements for that. Usually if you can't prove a long-term residency in a different country, your government won't accept the fiscal residency change.
iamvaillancourt
2018-06-07 00:01
Yeah
iamvaillancourt
2018-06-07 00:02
I've lived in poorer countries, so I am okay with that, and can switch countries every 6 months no problem
iamvaillancourt
2018-06-07 00:02
Basically I'm looking for a country with low taxes to setup my Permanent Residency in
iamvaillancourt
2018-06-07 00:02
By that I just mean for Canada to accept it
iamvaillancourt
2018-06-07 00:02
I can be on tourists visa in other countries all day long I think once Canada has accepted
iamvaillancourt
2018-06-07 00:03
I'd love to hear about your situation vndc
iamvaillancourt
2018-06-07 00:04
what are your current hands on experience and what you have done for you ?
iamvaillancourt
2018-06-07 00:04
have you ever done anything similar?
ivan
2018-06-07 00:28
@iamvaillancourt, haven't done it, but I've done the research related to my current country. I'm aiming for Andorra and I plan to stay there most of the time since I have a daughter.
ggiampieri
2018-06-07 05:57
@iamvaillancourt great! As @ivan said talk to a local tax attorney, find a country which is well recognized from your government Panama is good because is permanent on the spot, Costa Rica or if you want to change continent..Malta, Thailand,Philippines,Malaysia. Then Uk llp + Revolut business+stripe/paypal or Hk ltd +neat business+ stripe+paypal. Then open a Singapore personal account and you are well set to remit your profits and spend you cash. Backup personal can be easy Revolut, Australian banks, a good Swiss, Dubai or Jersey bank, even Georgia.
ggiampieri
2018-06-07 06:11
@iamvaillancourt oh and make sure if you sell b2b that your customers can write off your invoices. With both Uk and Hk shouldn't be a problem, but ask a tax consultant in US. I am sure someone here knows!
iamvaillancourt
2018-06-07 06:55
great :slightly_smiling_face:
ggiampieri
2018-06-07 07:19
@iamvaillancourt If you dont need a company, which mostly means you sell your time to companies you can open a personal Paypal account in HK and invoice with that. You can use Neat card to verify it. Stripe should also accept personal account, in HK/Australia they do, so just open an account there to withdraw funds then remit them to wherever you want but not to your home country :)
coler.liviuovidiu
2018-06-07 09:40
has joined #residency
jd
2018-06-08 03:23
@mikeseo I believe you went through Paraguay and Panama residency programs, but had reservations about the Paraguay program. Could you elaborate a little on this if choosing between the two options for permanent residency?
FYI I sought another tax advisor out here in Australia, and they echoed a similar tune on tax residency - very very important to cut ties with Australia, and ?make a life? elsewhere. In this sense, with PR in another location, even if living in another country, one should be covered.
mikeseo
2018-06-08 04:55
ya I did both, the PY gov offices are sketchy and more 3rd world, it seems there are more requirements like a PY police clearance and a medical exam but I just sat in some police station waiting room while the lawyer talked with the police guy in the office and than the lawyer asked for a little bit of money. I never saw any doctor but I got my medical exam signed off from a doctor. The whole thing just seems sleepy, shady and small time, like they are all friends and in cahoots.
the PA gov offices seemed much more legit, less small timey and no bribes. The PA lawyer had a real office with many employees and much more professional. There were lots of other south americans getting residency in Panama. Noone really in Paraguay.
my impression was maybe for every 100 people who do the PA residency maybe 5 people do PY residency. And that it's not really likely to get a PA passport. And that you could most likely bribe your way to a PY passport.
mikeseo
2018-06-08 04:56
I would recommend PY if you are on the run from the law and want to hide out.
mikeseo
2018-06-08 04:56
I would recommend PA if you just want a paper permanent residency with no realistic chance of a passport and don't mind flying there every 2 years.
mikeseo
2018-06-08 04:57
I would recommend Thailand elite or Malaysia MM2H if you want to live in that country and don't need specifically "permanent resident visa"
vinodgn0088
2018-06-08 05:17
@mikeseo Malaysia MM2H rules are changing on a regular basis and expats now prefer Thailand or indeonesia.
mikeseo
2018-06-08 06:37
ya I think I'd prefer Thailand too
jd
2018-06-08 06:46
@mikeseo Thanks for the sage advice there.
The plan is to go to Thailand, but I believe the Thai Elite visa is a temporary residency permit. In that sense, Australia could still term permanent residency to be home. So I was thinking PA or PY, then temporary visa or work visa in land of the smiles.
jd
2018-06-08 06:47
PY only seemed attractive due to 3-year in country requirements, but to be honest - I think a corporation in Panama shows more ties
jd
2018-06-08 06:58
Which provider did you use in Panama Mike?
vinodgn0088
2018-06-08 08:15
@jd, move to a low tax country with work permit. In that case Australia can't tax you income generated outside of Australia
mikeseo
2018-06-08 08:36
bank accounts in Panama don't seem great.. difficult to get and shitty internet banking
mikeseo
2018-06-08 08:37
what about Georgia? Perm residency, corp, and bank all in one? I've never been there
mikeseo
2018-06-08 08:40
https://tax-free.today/blog/georgia-residency/
"Georgia is not the best option for nomadic businessmen for example, who are only looking to be in the country once a year (for these people it is preferable to live in Panama or, if they are citizens of the EU, Cyprus or Bulgaria). This is because you have to visit the country at least two or three times a year in order to obtain fical residency there."
jd
2018-06-08 11:12
@nomadn A work permit will only cease double taxation if the relevant treaty is in place I believe. Thailand does have a tax treaty with Australia, but the work permits are temporary - so in essence one has not cut tax ties with Australia I believe.
I think you need permanent residency to actually fulfil this.
jd
2018-06-08 11:13
@mikeseo Thanks, will check it out. Regardless of structure, the plan is to live on Thailand as central and really love the place.
Will also look into Malaysian option (MM2H I think?)
mikeseo
2018-06-08 11:48
malaysia mm2h is a temporary 10yr visa too
mikeseo
2018-06-08 11:48
i think the only permanent visa in asia is if you get married to a local?
mikeseo
2018-06-08 11:53
@jd the Panama permanent resident visa takes maybe 6 months and a few visits to panama. Might be easiest to stay in latin america for that whole time and just fly back to panama when needed. Medellin to Panama City is a easy flight
mikeseo
2018-06-08 11:55
flying around down there is expensive and difficult
mikeseo
2018-06-08 11:56
Los Angeles to Panama 6hrs, Panama to Paraguay another 6 hours
mikeseo
2018-06-08 11:56
Copa Air is the only option and their hours suck
mikeseo
2018-06-08 11:56
I was going over there from Asia and it sucks...
mikeseo
2018-06-08 11:57
or if you don't want to travel around than just rent a place in Panama City for 6 months
mikeseo
2018-06-08 11:59
the lawyers fees were like 6000 USD after everything and a 5000 USD deposit held in the bank during the process
roman
2018-06-08 12:08
There?s also Labuan residency, which allows you to live in Malaysia. Someone here had that. I only spoke to the person who sets this up. It sounded real good and an inexpensive option. The reason I didn?t pull the trigger is because my wife and I prefer Borneo region in MY, but Labuan work visa only allows mainland stay. Other than that it sounded good.
roman
2018-06-08 12:09
This was the guy that was recommended to be by some other member here: http://www.labuanoffshoretax.com/
mikeseo
2018-06-08 12:09
I think Labuan work permit is only 2yrs though?
mikeseo
2018-06-08 12:23
still seems odd to me that having a Panama permanent resident visa and not actually living in Panama is a stronger non-resident case versus having a Thai 5-20yr longterm resident visa and actually living in Thailand. The first seems to scream tax evader while the second seems more realistic
roman
2018-06-08 12:26
@mikeseo my understanding that it was not limited, but I might be wrong
roman
2018-06-08 12:28
It does have other req?s though they are atypical, such as having a real office.
mikeseo
2018-06-08 13:23
well I think it's renewable, but it's just for 2 yrs at a time and called a work permit
jd
2018-06-08 14:58
@mikeseo @roman Thanks for the input guys, will check it all. Have a great weekend
vinodgn0088
2018-06-08 17:00
@roman, Labuan needs a 250K MYR paidup capital + You need to show 10K MYR monthly salary. Out of 10K, you can make 5K as director fees (tax exempted until year 2020). For the first year you will be paying 28% monthly tax deduction (non-resident rates). Second year you can request refund when you become tax resident. Most importantly they have tightened up the rules and no longer interested in Nomad. You need to write down a strong business plan that your presence in Labuan is a must in order for the company to do business. Should you wish to live in West Malaysia (KL, Johor etc), you need to pay license fees for co-located/marketing office with a operational office setup in Labuan. Every year they are tightening the rules so much. Then on top of all these shits, Labuan is black listed by EU countries and many countries specifically exclude Labuan from Its DTA agreements with Malaysia. Banking rules are a bit tight as well. For every outward wire transfer, you will need to provide invoices or supporting documents. Sometimes they will ask you to provide invoices/supporting documents for Incoming payments too.
roman
2018-06-08 18:20
Sounds like it all went downhill since I looked at it last time.
vinodgn0088
2018-06-09 01:26
@roman, yes it is. I am holding Labuan visa and trying to move to somewhere else as well.
mikeseo
2018-06-09 01:29
@vinodgn0088 did you investigate further if you will qualify for a Portugal visa?
vinodgn0088
2018-06-09 01:32
@mikeseo, no. I didn't so far. My Labuan visa is under renewal process. I will investigate further after I have Labuan renewed.
vinodgn0088
2018-06-09 01:34
@mikeseo, I paid 1500 USD +800 USD for Labuan renewal ( 2 years visa). So I will initiate Portugal application next year only.
vinodgn0088
2018-06-09 01:35
@mikeseo, Your wife is holding Philippine passport right? I think she can get a Portuguese passport within 2 years of stay in Portugal. Need to learn Portuguese language though.
mikeseo
2018-06-09 01:51
@vinodgn0088 I think that's for Spain, not Portugal. I got an Italian passport last year based on ancestry from my great grandfather. My wife can get the Italy passport after 3 years of being married to me, this December :slightly_smiling_face:
mikeseo
2018-06-09 01:54
I'm learning there are quite a lot of advantages to having a shitty 3rd tier passport though....if you have money. You can bank around the world and no big worries about your citizenship government chasing you for taxes. No restrictions on trading. I think a 3rd tier passport with that as your place of birth that you use for banking and a 1st/2nd tier passport that you use for travel would be the best combination.
mikeseo
2018-06-09 01:56
@vinodgn0088 have you considered Chile at all?
vinodgn0088
2018-06-09 02:39
@mikeseo, how can you get a 3rd country passport without your actual place of birth listed on it ?( Bribe?). How will you get around with FATCA and CRS ?
vinodgn0088
2018-06-09 02:45
@mikeseo, Whats so special about Chile? taxes seems to be high.
mikeseo
2018-06-09 03:46
I mean that it's advantageous if your 3rd tier passport has the 3rd tier country listed as the place of birth. You use the 3rd tier passport to open bank accounts and trading etc. Tax and liability protection because the 3rd tier country doesn't really enforce laws as effectively as 1st tier countries. The banks only see the 3rd tier passport so CRS gets reported to your 3rd tier country, where the tax office is ineffective.
Than your second passport is from a 1st/2nd tier country, it has the 3rd tier country listed as your place of birth but that doesn't really matter if you just use it for traveling.
mikeseo
2018-06-09 03:49
I think you can get permanent residency in Chile pretty easily and it seems possible to actually get a passport from Chile after living there 5 years. I think Chile has a tax holiday for the first 3 years.
jd
2018-06-09 04:18
@mikeseo Last Q on PY - have you maintained your residency by revisiting, or let it lapse?
mikeseo
2018-06-09 05:15
I did go back there in January, I hit PA and PY for a couple days each
mikeseo
2018-06-09 05:16
no issues in immigration, PY customs took my toothpaste and sardines leaving the country..
pedrodemendez
2018-06-09 05:55
pedrodemendez
2018-06-09 05:55
you can get above visa in Philippines, Asia, without being married
pedrodemendez
2018-06-09 06:01
above article talks about other options.. but i find visa13 the best option :slightly_smiling_face: less yearly requirements after receiving the visa
mikeseo
2018-06-09 07:55
@pedrodemendez you can just apply for a immigrant visa without being married and without a job? (not including the retirement visa)
jd
2018-06-09 23:42
@mikeseo I believe PY you need to be in the country once every 3 years? However - received this email from Alice Neufield (Lawyer) out there: - ?There is NO minimum time required to stay in Paraguay - neither to obtain nor to maintain Paraguayan residency!?
mikeseo
2018-06-10 00:16
I'm not sure if it's 2 or 3 years but I have to go to Panama every 2 so I just threw PY in there. That's a fucked up statement, you gotta stay in Paraguay long enough to go to all the gov offices to obtain PY residency...which is like two separate 2 week trips. And I dunno how you are going to visit the country every 3 years without spending any time in Paraguay? Maybe there is no specified number of days required but you will need to spend X days to obtain and maintain residency? Fuck those immigration lawyers anyway, they just want to make a sale and don't care about what's best for you.
mikeseo
2018-06-10 00:16
@mikeseo uploaded a file: https://freedomsurfer.slack.com/files/U5Y01UY4E/FB4877MA5/screenshot.png
vinodgn0088
2018-06-10 00:24
@mikeseo, How many passports you have? US, IT, PA, PY ......... :slightly_smiling_face:
jd
2018-06-10 00:44
@mikeseo Agreed !
mikeseo
2018-06-10 01:02
i don't think i can get a PA passport even if I lived there most of the year. Getting a PY passport seems possible if I put effort/bribes in but I lost interest when the lawyer disappeared.
pedrodemendez
2018-06-10 03:38
@mikeseo yes, the quote immigrant visa (13) you can apply for from a tourist visa status. No need to be married. Need to prove you have 2.5m peso in the bank which you theoretically could take out after getting the bank certificate, or after receiving the visa
pedrodemendez
2018-06-10 03:39
depends on what country you come from if you are eligible, koreans for example are now on the 'no' list
mikeseo
2018-06-10 04:20
wow that's good to know, only 50k USD in a Philippines bank? So it's a permanent resident visa? Is the first year a probationary visa and than you can change it to a permanent visa the next year? Any idea what the minimum days you need to spend inside PH every year to maintain residency?
pedrodemendez
2018-06-10 04:43
pedrodemendez
2018-06-10 04:44
yes its a permanent resident visa, you have to go into immigration every year to pay a certain fee, or send someone there for you. i heard its 130 peso only, but did not find confirmation of that.
pedrodemendez
2018-06-10 04:45
am not sure yet about the time needed to spend inside PH, my lawyer says there is no requirement but recommends not to stay away all the time..
mikeseo
2018-06-10 04:45
ya you gotta file a annual report every year withing the first 60 days of the year, 310 php
pedrodemendez
2018-06-10 04:45
fee is low, lines are long :slightly_smiling_face:
pedrodemendez
2018-06-10 04:45
and every 5 year you have to renew your ACR card
pedrodemendez
2018-06-10 04:46
but its lifetime, and permanent immediately
mikeseo
2018-06-10 04:46
you don't have to go to the BI in intramuros to file the annual report. You can go to other branch offices like in SM Aura
mikeseo
2018-06-10 04:46
wow interesting, I never heard of that 2.5mm PHP option
pedrodemendez
2018-06-10 04:46
yes, no need to go to Manila..
pedrodemendez
2018-06-10 04:46
no article talks about this, a friend here told me.. he did the same..
mikeseo
2018-06-10 04:46
nice
pedrodemendez
2018-06-10 04:46
i know 4-5 people who got it..
mikeseo
2018-06-10 04:47
I did the 13a marriage visa and the first year was just probationary
mikeseo
2018-06-10 04:47
it took my wife and I like 3 months and 8 visits to BI to get it done ourselves...big hassle
pedrodemendez
2018-06-10 04:47
tax status is that you become 'resident alien', that means no 180 day rule, you are tax resident..
pedrodemendez
2018-06-10 04:47
i used a lawyer, picked up birth certificate and police report in europe in december.. and got the visa in april
mikeseo
2018-06-10 04:48
but they don't require tax returns to qualify for the residency right
pedrodemendez
2018-06-10 04:48
am finding out
pedrodemendez
2018-06-10 04:48
i don't have a TIN yet
mikeseo
2018-06-10 04:48
you're gonna try to get one?
pedrodemendez
2018-06-10 04:49
am getting advise from lawyer/fiscal guy first
mikeseo
2018-06-10 04:49
you have employees and a office here?
pedrodemendez
2018-06-10 04:49
i have no company, and no work atm..
pedrodemendez
2018-06-10 04:49
after i get my advise i might setup company outside PH
mikeseo
2018-06-10 04:50
my understanding is that if you are a resident alien but you work outside of PH than you're not taxed in PH.
mikeseo
2018-06-10 04:50
territorial
pedrodemendez
2018-06-10 04:50
yes that is how i understand as well
mikeseo
2018-06-10 04:51
:sunglasses:
mikeseo
2018-06-10 04:51
@jd - maybe consider PH and use it as a home base
pedrodemendez
2018-06-10 04:54
a dutch friend living here has a BV in Netherlands with his brothers. If he gets a dividend from that company and sends it to PH.. He says its not taxed..
jd
2018-06-10 04:55
@mikeseo @pedrodemendez Super cool
pedrodemendez
2018-06-10 04:55
PH also doesn't have CFC laws
mikeseo
2018-06-10 05:10
and they have some kind of bank secrecy laws https://ndvlaw.com/philippine-bank-secrecy-law-simplified/
ggiampieri
2018-06-10 05:29
Beside Makati, which I did not really enjoy some years ago and remote beautiful islands, where is the best hub for expats?
mikeseo
2018-06-10 05:34
BGC
mikeseo
2018-06-10 05:38
imho it's the one place in PH that's barely tolerable...
ggiampieri
2018-06-10 05:47
I prefer Thailand, but a double base could be a plus. Thanks
mikeseo
2018-06-10 05:48
I agree Thailand is nicer to live
ggiampieri
2018-06-10 05:53
SE Asia is good for factory/emergin market proximity. I heard some people talking good about Dominican Republic, but caribbean is more of a vacation spot. Beside US hotspots, for same price flight ticket from Europe I prefer Asia.
mikeseo
2018-06-10 05:57
I agree, I prefer living in Asia/EU over Latam. Too much danger and theft, difficult/expensive to travel, too content/lazy lifestyle.
ggiampieri
2018-06-10 06:04
Then the list of good places avoiding expensive HK/SG is not so long for a base with all the dots in place. Airport connections, food, security and taxes.. fox example both Bali and Ho Chi Minh don't make the list even if they are nice spots!
mikeseo
2018-06-10 06:05
BKK Manila KL Taipei?
ggiampieri
2018-06-10 06:07
For big city life agree, I love the beach so I would add south Thai airports and north Malaysia
mikeseo
2018-06-10 06:09
what beach cities do you like in Thailand? - that are also big enough to have supermarkets, mall, movie cinema, international school
ggiampieri
2018-06-10 06:14
Phuket is a nice hub, plenty of Tesco shopping malls.. if you avoid/control tourists places. Penang could fit for a while. Bkk is huge and not easy to walk, KL is better. Manila...
mikeseo
2018-06-10 06:14
I haven't found any livable beach cities in PH. It seems to be either nice resorts or 3rd world shithole
mikeseo
2018-06-10 06:15
I agree Penang was pretty nice, almost perfect - just not my type of food and too humid
ggiampieri
2018-06-10 06:18
That's why Singapore peninsula is the best compromise
mikeseo
2018-06-10 06:19
Singapore almost perfect too...just not quite.
ggiampieri
2018-06-10 06:21
If you have good markets you can make your food. But yes I agree food is a big point for long lasting relationship. Being from Italy does not help much, but I am a 360� foodlover... but must be fresh
ggiampieri
2018-06-10 06:23
Big plus for Phuket is the chinese consulate, good to avoid HK if not on your route. Hkt airport has many connections with the mainland and if you visit factories it is a nice option to stay around China
mikeseo
2018-06-10 06:24
is Phuket one of your home bases?
mikeseo
2018-06-10 06:26
BGC in Manila was the best compromise I could find across all the requirments, tax food weather cost etc
ggiampieri
2018-06-10 06:26
I would go for it
mikeseo
2018-06-10 06:27
because I had to specfically get a "permanent resident visa" for US tax exemption. TH elite and MM2H wouldn't qualify.
ggiampieri
2018-06-10 06:28
Next time I visit the Philippines I will check it out. Any suggestions on islands? Beside boracay which is closed now I have a dutch friend who loves Siargao
ggiampieri
2018-06-10 06:28
I know you guys have hard time with that
mikeseo
2018-06-10 06:29
I like Hennan resort on alona beach in Panglao, Bohol
mikeseo
2018-06-10 06:29
bunch of pools right on the beach, walkable to some restraurants and bars right next door
mikeseo
2018-06-10 06:29
$100-$150 a night
mikeseo
2018-06-10 06:30
but that's more of a couples place
mikeseo
2018-06-10 06:31
if you're going alone or just guys, I'd go to Boracay when it reopens
ggiampieri
2018-06-10 06:32
That's the place
ggiampieri
2018-06-10 06:32
Hennan resort looks good though
mikeseo
2018-06-10 06:33
I like it quite a bit, the one in Panglao
mikeseo
2018-06-10 06:33
maybe come to BGC for a couple weeks and meet some girls and bring one with you to Panglao
ggiampieri
2018-06-10 06:34
Sounds like your last plan:joy:
mikeseo
2018-06-10 06:35
:slightly_smiling_face:
pedrodemendez
2018-06-11 02:31
El Nido, Siargao, Camiguin, Panglao
pedrodemendez
2018-06-11 02:31
for business, Cebu City and Davao migth be option..
pedrodemendez
2018-06-11 02:32
and from Cebu City its just a ferry ride to Panglao :slightly_smiling_face:
mikeseo
2018-06-11 04:40
@pedrodemendez have you checked out the condos with a ocean view in Mactan? I haven't yet, the view looks good but I'm not sure if there's any sand beach and also how far away they are from a supermarket and what traffic is like. Like http://www.cebuinvestment.com/arterra-residences.html
pedrodemendez
2018-06-11 09:57
no haven't.. its 45 minutes from cebu city.. and punta engana ... in bad traffic it might take 1 hour 15 minutes..
pedrodemendez
2018-06-11 09:57
there is a place closeby where you can take a banka to go diving or snorkling.. some restaurants and movenpick and shangri la are there as well..
pedrodemendez
2018-06-11 09:58
don't know of a public beach..
pedrodemendez
2018-06-11 10:01
I would prefer Maria Luisa, if you have the money to spend... in the mountains.. from there easier to go to both bus terminals.. the ferry and to the airport..
mikeseo
2018-06-11 10:21
pedrodemendez
2018-06-11 11:08
yes
pedrodemendez
2018-06-11 11:09
will look for something there later this year
matt
2018-06-12 03:15
I am trying to get apply for temporary residence (and hopefully permanent) in Chile. Does anyone have any recommendations for a good English speaking lawyer or immigration consultant that can take care of the process? I do not speak any Spanish.
mikeseo
2018-06-12 03:29
I forget where I found this guy and I don't know if he is good or not. http://escapeamericanow.info/chile-consulting/
stephen
2018-06-12 11:51
has joined #residency
igoremls
2018-06-12 16:39
has joined #residency
matt
2018-06-12 22:06
@mikeseo Thanks Mike for the suggestion, I will send the Dr. an email. If anyone else has any suggestions, it would be greatly appreciated.
chriskeane100
2018-06-13 04:36
has joined #residency
matt
2018-06-14 03:50
Does anyone have any experience with the timelines for residency -> citizenship for Brazil/Uruguay/Argentina/Chile? My spouse is planning on having a baby in mid-February, and we are trying to plan out our timeline. We were originally considering Chile for residency, and birth in Brazil...but are also considering Argentina/Uruguay. My understanding is that Brazil requires 1 year of nearly full-time living after gaining PR to apply for citizenship. Argentina requires 2 years of PR, but you only need to be present 6 months each year (total of 1 year in-country). I would also be interested in how long the bureaucracy takes in each country. Argentina/Uruguay is on the table because it appears to be more livable/safe than Brazil, and I have heard that Brazil PR applications and citizenship inevitably get held up, so 1 year probably is not a realistic time frame.
jpatmon
2018-06-15 06:03
has joined #residency
thy
2018-06-17 05:45
Anyone here resident of UAE / Georgia / Cyprus? :)
michael
2018-06-17 09:05
UAE.. I'm in the process of dropping it.
erik.stromberg
2018-06-17 09:50
@michael Mind telling why? I'm also looking at UAE and Cyprus.
burrup.lambert
2018-06-17 10:10
Hi @michael. Do you bank you in Dubai? I have a question over in the #banking channel.
michael
2018-06-17 10:32
@erik.stromberg cost wise.. and with all the new rules & regulations.. I decided to opt out of Dubai.. I have several associates who are doing the same as well..
michael
2018-06-17 10:33
I spend more of my time in Asia.. so Dubai.. with all the costs involved.. wasn't worth it.. there are new rules with the Investor Visa, where you are required to have a legal residency tenancy agreement/property etc..
michael
2018-06-17 10:34
I recently setup residency in Singapore.. and business there too.
michael
2018-06-17 10:35
@burrup.lambert yes, I saw your post.. i did set one up with my Dubai visa.. and it was easy... i set it up with emirates nbd... i did ask without a residency visa, if it was possible (was a couple years ago), and they said, I need my residency visa first.
erik.stromberg
2018-06-17 10:35
@michael Thanks. I don't plan to actually live there so UAE maybe isn't the best option then.
michael
2018-06-17 10:37
@erik.stromberg The costs, of setting up a company in the Free Zone areas (depending on the service provider 7-10k USD) in order to to obtain the visa .. aren't worth it if you aren't going to spend time there.
michael
2018-06-17 10:37
@erik.stromberg where do you spend most of your time?
erik.stromberg
2018-06-17 10:40
Mostly SEA with a few months in Europe
michael
2018-06-17 10:46
@erik.stromberg same here.. you could look into SG.. the cost of living is higher than of course the rest of SEA... there are options in Malaysia, Thailand for some form of residency.
thy
2018-06-17 15:56
@michael What were your costs in UAE besides the company incorporation costs? Which rules / regulations are not comfortable with investor visa there?
Also, what will your costs with Singapore Company + Residency be? I know it?s quite expensive to manage the company in Singapore as a non-resident, but don?t know what it is like for residents and what are the rent costs there. Also how much do you expect to save with moving to SG and how to keep tax planning on the single-digit tax rate there overall?
I am a lot into Republic of Georgia (affordable costs, territorial taxation system, no CFC / effective management rules, no social ?security? contributions - other than flat rate 20% tax for Georgian-sourced income, great ease of doing business rank, effectively 0% taxation, etc.).
The only thing is that I don?t speak Georgian nor Russian (yet). If anyone is resident of Georgia, some practical insights would be very welcome - I am especially interested in how to live as an English-speaking expat there.
Also I have heard that Cyprus is a great low-tax jurisdiction inside of EU (5% - 10% overall tax if optimised properly).
For both UAE and Cyprus I have read that minimum stay is just a few months (3 or less) or in case of UAE even few weeks. For Georgia there is Entrepreneur permanent residence option, without minimum stay - but with minimum earnings (but expat should still be present less than 180 days in the country of origin).
There are so many options, that?s why I am asking for some practical insights, numbers (costs) and experiences.
erik.stromberg
2018-06-17 16:14
@thy 2 months for Cyprus according to http://www.tax-residence.com. I'm having a chat with them tomorrow to figure out if it's a good option for me.
thy
2018-06-17 16:39
@erik.stromberg Interesting site, I read it and it seems UAE is actually ideal even when just going on ?holidays? two times a year there. The only rules are that you visit it once every 6 months and not being present more than 183 days a year in any other country. I would be happy if @michael also tells his practical views from experiences, why it is not so good option overall.
erik.stromberg
2018-06-18 09:32
@thy I just spoke to someone from the website and Cyprus sounds pretty good. Basically I would have to rent an apartment the whole year (hopefully there are some cheap ones available), stay there at least 60 days per year and then I can receive dividends tax-free from my offshore company even if I'm running it from my apartment in Cyprus.
stoplight
2018-06-22 21:25
@vinodgn0088 been reading through your requirements?have you considered Canada?s Provincial Nominee Program?you may need some money upfront but that?s just for escrow then you can use it to open a business?some provinces are now gearing towards IT?that may be worth a look?and whatever cost you do to open up a business doesn?t go to the government?it goes to your business?that can be worth a look instead of spending too many years in Portugal with no assurance..definitely in Canada once you get a PR and establish your business and stay in country within the 4 year requirement?you?ll get your citizenship?after that you can dump your business and move to another province like BC?the smaller provinces with less people are easier to get into?
stoplight
2018-06-22 21:26
@pedrodemendez sounds like you?re having fun in the Philippines..which part of the country do you live in? :slightly_smiling_face:
stoplight
2018-06-22 21:29
By the way @vinodgn0088 if you?re looking for a shorter route to get a better passport..consider the Caribbean while the prices are low?and don?t discount the misconception that most islands are just vacation spots until you actually visit there?having a Caribbean passport gets you freedom of movement from the OECS countries as well as CARICOM countries..with the Caribbean Single Market and Economy, you can open up businesses easily?no specific amount required in bigger countries like Trinidad and Tobago?where there is a large Indian community?
stoplight
2018-06-22 21:37
You only need two visas for Caribbean passports?a US and a Canadian one to make it a great travel document?I already have a Canadian visa on mine?will wait out for the US visa in a few more years?when I?m about to finish the pages on my passport with stamps?.so that they can see my travel records when they review it?frequent travels looks better as long as its not to anti-US countries..haha?
?you can achieve all this?Caribbean passports for your family and a new business on the ground say in Port-of-Spain, Trinidad?all in less than year?.you can retain all your current businesses as well?
stoplight
2018-06-22 22:02
Traveling on a Caribbean passport anywhere in the world..from Singapore to Fiji to UK and elsewhere in Europe has had no problems for me.?the lesser known the Caribbean country the better?highly unlike it will be on the red flag list?unless the birthplace on your passport says Syria or Iran..then you?re fine?.
stoplight
2018-06-22 22:05
In the future..you can also put a long-term Schengen visa on your passport if you buy a property and open a business in a schengen country?you can get a long-term visa on it?that may pe a cheaper route to get a PR as a backup plan in the EU if you really want to do that?but EU taxes are a nightmare?
vinodgn0088
2018-06-23 00:31
@stoplight, I did search about Canada PNP and found that Quebec offers a great entry option. But unfortunately they are not taking new applications until Apr 2018. Also, not sure if they will accept in future too. Btw which Caribbean country passport you bought?
vinodgn0088
2018-06-23 01:16
@mikeseo, thanks for the url
mikeseo
2018-06-23 02:08
@vinodgn0088 so the Labuan work permit route is a pain in the ass now? You have to have some real presence in Labuan and pay a lot of misc fees? Is the MM2H route still decent?
roman
2018-06-23 02:17
Quebec also has an investment route, which is hefty now. But they also recently said they wanna take in less Chinese citizens and that should open doors for other people.
roman
2018-06-23 02:31
Also good opps for investment in QC in real estate. I think it?s the next growth hub.
pedrodemendez
2018-06-23 02:44
@stoplight Cebu Visayas
vinodgn0088
2018-06-23 02:53
@mikeseo, Labuan has become a pain in ass now. No longer attractive to a digital nomad. Also, not a good option if you have B2B with EU clients (black listed). If you just want a Malaysian residency then MM2H is better ( but this will also change soon). Govt. decided to increase fixed deposit amount and remove the tax free car perk.
vinodgn0088
2018-06-23 02:55
@roman, don't have millions to show. So, investment route is out of picture. For me, only entrepreneur/self-employed is the option.
stoplight
2018-06-23 04:55
@vinodgn0088 PNP?s have as little as CAD$150,000 investment which will go into your business?Quebec has so much influx of large investment from Chinese that they?re also trying to get other people in but generally the other provinces will be more open to people who aren?t chinese and speak english well?
As for the Caribbean passport?at the time I did that?the only cost-effective option I had was Dominica?which I already knew some colleagues on the island?so it was really a no brainer for me?now?.because of the lower costs?you and your family can go for Antigua or Saint Lucia which are a bit better than the others and are less known than St. Kitts & Nevis and Dominica when it comes to their economic citizenship programs. If you go beyond the misconceptions and structure properly?doing the Caribbean route may work well for you better than Portugal which according to reports even those who?ve had their Golden Visas 5 years ago are still not citizens today?
stoplight
2018-06-23 04:58
@pedrodemendezoh..great place! Metro Cebu traffic is a nightmare though?and because of the smaller streets are probably worse than Metro Manila?then again the beaches are all nearby?so that?s a big plus! :smile: ?sad to hear about your wife having a hard time with US immigration?if she didn?t have a lot of travel stamps on her passport?sadly?that is not an isolated case?due to the high incidence of mail order brides and marriage for convenience from rural Filipino women? :disappointed:
stoplight
2018-06-23 05:02
For those wanting to have an ASEAN passport?the Cambodians have an economic citizenship program?although now its on hold due to the numerous red tape?if it goes back online?that should be worth a look for those who want to plant a Southeast Asian flag..
vinodgn0088
2018-06-23 05:27
@stoplight From where you heard that citizenship was not granted to PT Golden Visa holders. Any URL/Website address for this news. One thing I understand is that, getting PR is different and Citizenship is different. There are some provisions in Golden Visa which allows the buyers to spend very less days in Portugal compared to temporary resident visas. But when it comes to naturalization the trap pops up. If you actually want to be a citizen you need to prove that you have intention to live there and not applying just to get a passport. This intention can be proved only by staying tax resident in Portugal, paying income and social security taxes, have a family and kids studying in Portugal and pass the Portuguese language test. Based on words from others definitely its not a easy task and bureaucracy can be expected in citizenship application. Also, I did check PNP's, what you said is true some of them have only 150K CAD investment but the catch is need to hire local staff. Will do some deep study on this.
nikolay404
2018-06-23 17:30
@stoplight isn?t the citizenship requirement for Canada this: 1,095 days out of 5 years? I.e. in theory you can apply after 3 years of PR
stoplight
2018-06-23 19:49
@vinodgn0088 here are some articles about Portugal visas?
https://www.bloomberg.com/news/articles/2016-01-20/chinese-property-buyers-stuck-in-portugal-s-golden-visa-limbo
https://www.bbc.com/news/world-europe-26636829
https://www.occrp.org/en/goldforvisas/a-portuguese-crusader-seeks-to-tap-the-brakes-on-golden-visas
Unless you?re really hell bound on living the Portuguese lifestyle?IMHO and professional opinion...it?s really not worth the entry to the EU at this point?you?re probably better risking your money in places like Georgia?who may be part of the EU in a few years while Georgian passports are now given schengen access?
Yes PNP?s do require you to hire local staff..minimum of only one?which is really a no brainer?.as you would really need local staff anyway?he/she could be your local secretary/messenger/go-to person..etc?and the program requires you to stay in Canada anyway so you would need to have help?.a tech start-up would typically need a few people so the $150k and one-local person minimum would easily be filled?
@nikolay404 yes correct?it?s not a theory?I have relations that did it in less that 4 years time including swear-in and passport?that?s why its the fastest route in the world now actually for PR to citizenship without spending $$$ of course?the years fly past right away specially if you don?t leave the country?
stoplight
2018-06-23 20:14
@vinodgn0088?here?s a ?cost-free? professional tip.. :smile: if you?re really adamant in living in the EU?consider Belgium as a residency starting point.? :wink:
vs301991
2018-06-23 23:27
Hey @stoplight is it just residency or a prospective citizenship tip as well?
vinodgn0088
2018-06-24 00:58
Mattoy, number of horror stories about Belgium is larger than Portugal :sob:
mikeseo
2018-06-24 01:31
@vinodgn0088 I think Mattoy is hinting that western style governments like BE DE CA AU US etc will actually follow their laws and give you your passport after you pass the naturalization time. Whereas fucked up countries like PT ES GR etc it's a gamble if they will follow their own rules. And the fucked up countries are going to be more "racist" about giving out citizenship to a non-white.
vinodgn0088
2018-06-24 01:32
@mikeseo, Got it man
pedrodemendez
2018-06-24 08:00
@stoplight I had no wife at US border problem.. must be someone else :slightly_smiling_face:
nikolay404
2018-06-24 17:50
So it?s seems that Canada is really the best option when it comes to time required time spend on the ground when it comes to getting a 1st tier passport? @stoplight have you heard if there are any caveats?
roman
2018-06-24 19:06
The only annoying part about Canadian PR is the fact that you need to live 3/5 years. If you value travel or must travel for business, it can create an issue.
roman
2018-06-24 19:08
But the good thing about that is there is no longer minimum days per year requirement. Just literally 365*3/365*5 days present qualifies for citizenship application. Then takes 6 month to a year to get the citizenship. But you can leave after applying.
jase
2018-06-24 19:57
I gotta say, there are worse places in the world to live 3/5 years to get a passport.
roman
2018-06-24 20:02
Hehe sure! :) Canada isn?t so bad. Just a bit bland in some places and lacks character. But it?s safe and secure.
jase
2018-06-24 20:16
yeah but to spend ~7-8 months a year for a couple of years is NBD
jase
2018-06-24 20:17
bit of skiing, bit of coastal life = all good
jase
2018-06-24 20:17
then escape to somewhere tropical :slightly_smiling_face:
stoplight
2018-06-24 22:37
Oops! My bad?I probably misread someone?s post earlier..sorry about that.. :slightly_smiling_face:
stoplight
2018-06-24 22:39
I think I was referring to @mikeseo?s wife? :smile:
stoplight
2018-06-24 22:49
@nikolay404 I agree with @roman..the only downside is if you have to leave to travel for work/pleasure..the time on the ground gets longer..but other than that?.living in Canada even in places like Yukon isn?t really bad?I visited there during winter time and saw the northern lights at -38 degrees?personally I can?t imagine people living all their lives in Whitehorse but I was more surprised to meet some migrants and their families from tropical countries who have lived there for years?and they say its just fantastic in Spring?so yeah..Canada is great even in the most northern and cold parts?that?s why there?s an influx of people going to Canada?with Australia and NZ following a similar model?but the 3/5 years is unique to Canada for now and such is the strong attraction from folks around the world.
definitely @jase ?I mean living in Whistler is just so bad right? ..hahaha?lol... :joy:?
stoplight
2018-06-24 22:55
correct @mikeseo..unless you come in with boat loads of money in other countries?like what many mainland Chinese are doing?then its always going to be challenging to convince them whereas countries with better developed immigration laws and lesser corruption will tend to follow them 90% of the time..so those horror stories you?ve heard about Belgium may not be whats really on the ground and may not apply to you. There are many factors to consider as there are many ways to enter any country..both legally and illegally?I was just in Brussels a few weeks ago?and I adore the place! I myself am thinking of planting a flag there in the future?it?s just too costly for me at the moment but I?m not looking at Brussels where everything is $$$$ ?lots of other places in Belgium where folks speak a fair amount of English and will be cheaper..
stoplight
2018-06-24 23:03
@vs301991 it really depends on your needs?you can get permanent residency then apply for citizenship after a number of years of actually living in Belgium?AFAIK?there are no shortcut programs in this country? :slightly_smiling_face: ?unless you?re a refugee?which is another story altogether
mikeseo
2018-06-25 04:34
haha @stoplight now she just lost her PH passport while in Australia....Do you have any DFA Manila contacts?
vinodgn0088
2018-06-25 08:19
@stoplight, what you think about following https://www.delcroixgroup.com/belgium
stoplight
2018-06-25 20:47
@mikeseo OH my! :flushed: ..sadly no?DFA people are either very political or money hungry?I personally stay away as much as I can?I do know the Phil. Ambassador to New Zealand though..he?s a friend?I?ll ask for his opinion?are you guys in in Oz now?
stoplight
2018-06-25 21:26
:+1: ..but as always?my professional suggestion to my clients?before making any decision?is to do their own ?dip on the water? and live like a local on the ground in any country they wish to migrate to?nothing beats that... :slightly_smiling_face: ?entering in as a tourist but with the objective to live locally for at least 2-3 months could be a deal breaker?.sure everything looks great in paper and your ready to apply.?but when you arrive on the ground?you realize?.you don?t like the weather?.the food isn?t to your liking and cooking is difficult because ingredients are not available?.the language barrier is so hard that you get lost often because you can?t understand the street signs?etc. etc?these may be small issues for some but could also be deal breakers for others?solo nomads can easily adapt but if you?re going to live in a new place with your wife and family for a very long time?.adjustment and adaptability may be difficult specially if there are no relatives or friends in the new country.?.the adaptation process should be seamless or at least its best to find the path of least resistance?.horror stories are born because it?s human nature for people to have some difficulty adapting to change?and the objective is to prevent those stories.?.you may say ?reconnaissance? trips could be expensive but they?re a whole lot cheaper than risking years that will amount to difficulty or worse?amount to nothing?with airbnb, low-cost airlines and advance planning..this should be fairly easy nowadays.. :slightly_smiling_face:
mikeseo
2018-06-26 02:48
very wise advice @stoplight not following it is how I ended up with unnecessary PA and PY residencies. What low/no tax countries do your clients end up actually enjoying living in full time?
Asia - I searched for a couple years and so far I settled for BGC in PH (just ok for a young couple). Penang in MY seems to be an ok option for a family.
LATAM - I didn't want to live anywhere there with a Asian wife nor raise a family there, everywhere either felt too dangerous or too slow/boring.
Europe - income/business/social taxes are confusing...
mikeseo
2018-06-26 02:55
She's flying back to Manila on Thursday. I ended up booking her an appt for next Monday. The DFA website says they release their schedule 12pm and 9pm Mon-Sat. At 12pm nothing was available anywhere in the Philippines. At 9:05pm some slots opened up in Mindanao and Cebu... 9:30pm some slots opened up in Manila. They disappeared pretty quick but I grabbed one, the website seems to work if you persevere.
henrik_fjerdingen
2018-06-28 17:01
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info
2018-06-28 18:35
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stolzlos
2018-07-01 10:03
does anybody have recommendations for a good real estate search engine (If possible via map search) for Malaysia and/or Thailand?
stolzlos
2018-07-01 10:50
thanks
ledrewy
2018-07-01 12:19
:pray:
stolzlos
2018-07-01 17:04
thank you
michael
2018-07-02 07:22
@thy - The biggest was to do with having to rent a property in Dubai, to keep bank accounts and the mobile phone (which is linked to your bank account). And for me, spending time in Asia and having to fly every 6 months to Dubai wasn?t worth it, especially with little business interest there.
- For Singapore, the costs were around $3000 SGD to set the company up plus getting my employment pass.
- I do believe you should manage your costs, with regards to your part on how much do expect to save with moving to Singapore. However, my focus is more on what opportunities and how much can I grow being ?based? in Singapore. And it?s much more than keeping the UAE visa.
- With regards to Tax planning. Singapore is a relatively low tax regime. Capital Gains are not taxed. I will draw ?decent? salary and pay tax off from that.
ggiampieri
2018-07-02 08:07
DDproperty for Thai is the best, they have app too
hello
2018-07-03 19:32
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michal.opoka
2018-07-03 21:59
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curtayalex
2018-07-07 11:23
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matt077
2018-07-07 12:46
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will
2018-07-11 03:33
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thy
2018-07-11 19:24
@michael Thanks for sharing your experiences and broader views! :) Much appreciated!
julienduteurtre
2018-07-15 19:27
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kuka
2018-07-19 19:57
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colbybridges
2018-07-20 17:13
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james
2018-07-24 09:26
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jase
2018-07-25 19:36
Just referenced this in an Andorra Guides article :sunglasses:
arthur.capard
2018-08-01 12:40
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roman
2018-08-02 11:51
Self employed route looks interesting.
roman
2018-08-02 11:51
Lower barrier.
simon
2018-08-02 11:54
Looks interesting, but only 50 spots...
vinodgn0088
2018-08-02 15:25
Looks like priorities will be given to those with French language proficiency.
stoplight
2018-08-02 21:39
Yes @vinodgn0088 it?s been a requirement for Quebec immigrant programs since the proliferation of Chinese applicants which are almost 90% of those who apply. This is also the same reason they put a quota now and increased the required investment because apparently, a lot of Chinese can afford to do so. And sadly, after a few years, they all end up in Richmond or Vancouver! :joy:
stoplight
2018-08-02 21:47
@simon the 50 cap is a bummer indeed?when I found out about the Self-Employed program awhile back, I personally wanted to apply?but was thinking I couldn?t make the cut so it looks like I would need to learn French to circumvent the quota and deadline! Oui! :smile:
stoplight
2018-08-02 21:54
In case anyone is interested..here are the exact regulations?
http://www2.publicationsduquebec.gouv.qc.ca/dynamicSearch/telecharge.php?type=1&file=103602.pdf
danz
2018-08-03 06:03
@stoplight, just came from Richmond Hill. Literally 90% Chinese because of the program:sweat_smile:
stoplight
2018-08-03 06:05
@danz Richmond Hill Ontario? or Richmond BC? :smile: ?I?m confused?
stoplight
2018-08-03 06:06
If you meant Richmond BC?.the 10% you would be referring to would be the airport! :smile:
danz
2018-08-03 09:10
Toronto area
simon
2018-08-03 09:38
I'm loving this, it's really improved the quality of the food in those areas. I was in Scarborough recently (Toronto area) and could easily find all my favorite HK dishes. Some even tasted better than in HK, thanks to the better quality Canadian ingredients.
roman
2018-08-03 10:59
I thought Chinese were in Markham. Richmond Hill is mostly Russians and Jewish.
roman
2018-08-03 11:05
Wiki says 30% Chinese. Wow. I lived in North York in 2010 and it wasn?t like that.
roman
2018-08-03 11:07
Markham is 45% Chinese :)
danz
2018-08-03 12:51
@roman I guess it depends on which neighbourd exactly, neighbourhood I just stayed for a month has atleast 50%+ Chinese I would say. But an other one was mostly Jewish. And another Portuguese.
rj22
2018-08-06 07:26
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monargent
2018-08-07 19:34
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wimva
2018-08-14 20:59
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wimva
2018-08-14 21:48
@stoplight It may be a bit old, but I'm confused why you'd consider becoming a long term resident of Belgium. The country's grey as it gets, with a full year of 'in between weather'. Taxes are sky high and starting 2019, they're even taking these dreaded CFC rules on board...
As an (almost life long) local, I feel there's something I might be overlooking.
itaiohayon
2018-08-16 20:15
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stoplight
2018-08-17 11:55
@wimva Agree with you on cost of living in Belgium. That answer was my response to Nomad Dude for his residency requirement to enter the EU and suggested the Belgium route. Living and working in Belgium is an entirely different matter. :slightly_smiling_face:
wimva
2018-08-19 06:44
Ok. That may make sense from a business point of view. Currently still employed over here and then taxes are absolutely bonkers while multinationals like Inbev are gladly let off the hook :smile:
piotrstelmach
2018-08-20 17:23
Anyone here with personal Maltese tax residency? How did you obtain it? What are the costs? Would love to chat some more with you if there is anyone
ivo
2018-08-22 16:32
@piotrstelmach I used to have one but applied already two years ago. Process was as easy and no costs AFAIR. Literally just wlaked into the offices and showed them my bank statement and lease agreement - that's it. But I've been told that they require more documentation
ivopalazzi
2018-08-23 16:06
Malta is changing, and a lot:
ivopalazzi
2018-08-23 16:06
szekessy
2018-08-28 18:20
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osiris
2018-09-05 19:02
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burrup.lambert
2018-09-06 16:53
For people that may be entitled to South Africa permanent residency via a relative...
- The processing of visa applications made at foreign missions is on average 5 ? 60 days and passports are held during processing.
- In order to file a permanent residence application in South Africa, the protocol of Home Affairs is that you must first acquire your relative visa and once you enter South Africa on same, are you able to submit your application for permanent residence, the processing of which is on average 2 ? 24 months.
- I understood from our discussion that you may elect to file your permanent residence application in Australia. In this respect, I caution that the channel between the High Commission in Canberra and the Adjudication Hub at the Department of Home Affairs in Pretoria, South Africa, is securitized. It is impossible for a lawyer, or anyone else for that matter, to lawfully intervene the channel between the aforesaid points of contact of the South African Government. Furthermore, the bureaucratic problem which has clouded the application process is the fact that there exists no formalized and effective tracking system which identifies and ensures the trail of an application from a foreign mission to the Department of Home Affairs in Pretoria. Applications filed at foreign missions have accordingly proven over time to go missing.
burrup.lambert
2018-09-06 16:55
Also an immigration White Paper was released July 2017 that states that will be getting rid of the PRP (Permanent Residence Permit), which is a permit that allows you permanent residency indefinitely and it is very hard to lose. The only requirement is that you have to visit South Africa every 3 years. It will be replaced with a long-term visa which is reviewable.
burrup.lambert
2018-09-06 16:57
In short, if you are eligible, apply for it sooner rather than later because it'll be gone in 24 months. I have also been advised that typically South Africa does not apply the law retrospectively, so if you are granted the PRP and then it is replaced with another visa, you still fall under the PRP and the caveats applied to it.
tcdemomento
2018-09-08 10:13
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hullmat1
2018-09-10 07:03
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mcdonald.ben
2018-09-15 01:03
If you get a Paraguay residency you can get a Cedula id card with allows you to live and work in Argentina, Brazil and Uruguay
dsolutions
2018-09-16 15:42
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grante.francois
2018-09-20 04:39
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henrique
2018-09-21 02:43
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greenard23
2018-09-21 06:11
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koshis
2018-09-22 03:15
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redareda9
2018-09-23 00:00
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c-bass
2018-09-25 19:36
Hey guys.. I have a question.. my girlfriend is Italian and she is a resident of Bulgaria (she has residency there and nowhere else). If I were to marry her, I already understand that wouldn't really put me on a path to an Italian passport unless we both chose to move back to Italy and reside there, although do tell me if I'm wrong there. My question is this, would marrying her allow me to stay and travel freely in the Schengen area since this is one of the (I assume) benefits of being married to a Schengen country citizen?
mikeseo
2018-09-26 03:13
@c-bass I think if you marry her and live outside Italy, you will be eligible for an Italian passport after 3 years...
sanderkocken
2018-09-26 05:04
@c-bass According to European law, every non-EU partner of a EU citizen should get granted the right (after some simple requirements are met) to join the partner and get residency in any EU country different than in your case, Italy (in that case national immigration laws would apply). For most countries you don?t actually need to get married for this, as long as you can proof a stable and durable relationship. But since Bulgaria is not a Schengen country yet, moving there wouldn?t help you much to travel freely. If you?re only seeking to travel only, the EU law states that non-EU family members (also non-married partners) should be allowed to travel with you freely to any EU-country. I am not sure whether the Schengen 3/6 rule would still apply. From what I understand you should go to apply together at the embassy or consulate of the country you want to travel to, prior to your travels (or in theory the EU law states that you can get admitted at the border security, after proving your relationship on the spot). Then you would be granted access to all Schengen countries. As I am in a similar situation (but for my girlfriend as I am dutch), I am curious whether this is still limited to the 3 months per 6 months, or if we would be able to apply again after 3 months. Anyone thoughts on this? https://europa.eu/youreurope/citizens/travel/entry-exit/non-eu-family/index_en.htm
koshis
2018-09-26 07:34
Hey guys, any one had any experience with he Phillipines SIRV application? If you know a good agent to handle this please let me know. Cheers!
michael
2018-09-26 09:50
No. Did a quick search online, looks pretty interesting.
koshis
2018-09-26 14:38
Yep.. seems pretty straightforward too
koshis
2018-09-26 14:41
Good place from a tax perspective... only resident **citizens** are taxed on a worldwide basis
jase
2018-09-26 16:23
@mikeseo have you been through the process of getting Italian citizenship by marriage?
jase
2018-09-26 16:23
My wife became an Italian a few years ago, we are already married - it's on my to do list to suss it out for myself
mikeseo
2018-09-26 16:34
@jase I'm going to try this December, our 3yr anniversary.
jase
2018-09-26 16:34
Awesome, congrats @mikeseo
mikeseo
2018-09-26 16:35
:slightly_smiling_face:
michael
2018-09-27 09:22
Yeah, work going on the ground and seeing the potential service providers. Depends what you are after in terms of internationalisation.
michael
2018-09-27 09:22
worth* going
koshis
2018-09-27 09:23
Yep. I plan on making a quick visit in a couple of weeks
pedrodemendez
2018-09-28 02:40
Take a look at Section 13, Immigrant Quote Visa, it gives you status of resident alien, the SIRV might only give you non-resident alien..
pedrodemendez
2018-09-28 02:40
And I think SIRV has some yearly requirements to keep up with
koshis
2018-09-28 02:45
Interesting... but does that require being married to a phillipines citizen? http://immigration.gov.ph/faqs/visa-inquiry/permanent-resident-visa
pedrodemendez
2018-09-28 03:31
nope, see SEC13.. no extra letter
pedrodemendez
2018-09-28 03:34
need to show 2.5M peso in a bank account at moment of application. this money can be used after, and no need to proof that you have this money in later years
koshis
2018-09-28 03:44
Thanks @pedrodemendez will definitely make enquiries about it!
burrup.lambert
2018-10-06 09:11
Anyone have a recommendation for a lawyer or service provider for a Panama Friendly Nations Visa?
koshis
2018-10-06 09:27
I've started the process with Kraemer&Kramer
(Marcos Kraemer )
koshis
2018-10-06 09:27
Was recommended by someone and he has been very easy to deal with and prompt
mikeseo
2018-10-06 16:28
@burrup.lambert I used Mata-Kelly, she was fine and professional, not too cheap
cliqueapp
2018-10-07 12:11
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me1892
2018-10-08 00:53
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mirceabujanca
2018-10-09 03:24
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ivan.lakatos
2018-10-09 04:15
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bryanlum888
2018-10-10 00:04
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me1892
2018-10-10 07:41
Anyone here have experience with the MM2H scheme?
danz
2018-10-10 09:41
I know someone who does. They just put this programma on a break and might close it. What would you like to know? I could ask perhaps some questions for you.
me1892
2018-10-10 10:28
@danz I have heard this rumour too, though some are saying it's just due to the management of the programme being moved from one govt. department to another.Did your friend use the programme to establish tax residency? Trying to figure out whether it's a viable option for moving my residency from NZ
danz
2018-10-10 10:30
He did it to establish his residency, he lives there most of the year. It is because of the government, but unsure what the reason is yet. There?s not much info about it yet.
me1892
2018-10-10 10:38
Do you know if your friend had any difficulties with the tax authorities in his home country or is it pretty straight forward if there's a DTA in place?
danz
2018-10-10 11:24
Zero difficulties, it is still pretty easy to move out of the Netherlands in that way.
danz
2018-10-10 11:24
It?s basically filling in a form saying your leaving.
sergiy.shlykov
2018-10-11 08:55
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umgelurgel
2018-10-21 08:16
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redareda9
2018-10-23 03:20
Anyone here who had his residency in France and got rid of it?
iamvaillancourt
2018-10-27 15:37
Anyone successfully became a permanent resident of Panama? If yo could send me a PM that would be great
wiksch
2018-11-03 20:10
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kiwiz
2018-11-05 03:01
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ren
2018-11-05 12:51
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aphelan1
2018-11-16 00:08
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22525
2018-11-20 14:51
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koshis
2018-11-22 12:22
Anyone here successfully acquired the Thai Global Elite Visa ?
sanderkocken
2018-11-22 16:12
@koshis Not personally, but I got two friends who purchased the stripped down 5 year Elite Easy Access for 500k last year. From what I heard it?s a very straight forward process. I suggest you ask around in the Thai Visa Advice group on Facebook, there are multiple elite members active who are happy to share their experience.
koshis
2018-11-23 00:53
Thanks @sanderkocken. Yes that's one I am hoping to purchase. I'm dealing with a guy called Russell Sim there, apparently I'm all approved, but just want to make sure it's all legit before I transfer the funds to them... will hit up that group you mentioned :ok_hand:
kommodis
2018-11-25 09:31
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trevorjames
2018-11-27 02:15
If you get a residence permit in UAE by creating a corporation in a free trade zone, does that mean that your previous home country (Canada in my case), will consider you a non-resident for tax purposes?
vinodgn0088
2018-11-27 02:49
@trevorjames, You need to inform Canadian tax department that you are moving. Also, you need to cut down any ties with Canada ( move family with you, cut down major economical relationships, rent out your home or sell it etc)
redareda9
2018-11-27 03:06
@vinodgn0088 Just wondering. Informing your origin country that you're moving won't trigger an automatic fiscal control?
me1892
2018-11-27 04:09
@redareda9 people emigrate all the time. Countries don?t get unlimited dibs on your productive capabilities after you cut ties? unless they?re the USA :wink:
redareda9
2018-11-27 04:12
I mean if you emigrate to a low income tax country like Panama or certain countries flagged as tax-haven, if I'm working with the IRS, I'll be tempted to trigger a control.
vinodgn0088
2018-11-27 04:47
@redareda9, Just imagine you left Canada without informing the tax department. They will continue to deem you as tax resident and if you don't pay taxes or fail to file tax returns, you will get a hefty tax bill with penalties added up. Informing them in advance is a good idea; But, you need to make sure that you have cut your ties before your departure other wise you will have a hard time if you are selected by tax department for audit (after several years of zero/low tax from you).
redareda9
2018-11-27 05:00
Yeah got it
yuli
2018-11-28 11:31
Anyone knows some immigration lawyers at the UK or CA? I am considering of getting a permanent residency in either of those countries. Any referrals will be appreciated. Thanks :slightly_smiling_face:
daniel
2018-11-28 16:21
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daniel
2018-11-29 15:52
Does anyone here have experience with residency in Indonesia?
danz
2018-11-29 15:54
Nope, I only know the Visa situation is pretty easy over there. Can get it 6 months every time I believe. I don?t know if there are any benefits of getting a residency there tbh.
daniel
2018-11-29 20:59
yeah, definitely no tax benefits of it. I have some family there so I was hoping someone would be able to give me some insight on the tax situation.
blackbear18
2018-11-30 02:39
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nnmatveev
2018-12-03 06:45
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assefphilippe
2018-12-05 08:45
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contact
2018-12-06 01:12
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burrup.lambert
2018-12-06 02:30
What are peoples thoughts on Argentina for residency/citizenship (prompted by a recent SMC Alert)? I was fairly set on Panama but now I'm having a second guess. Originally my goal was to reduce tax and maybe get a passport out of it after 5 years, but wasn't holding my breath. Argentina though you can apply for naturalisation after 2 years of living there (despite being a temporary resident) and have the process complete by the end of year 3. After that you can leave Argentina and as you are no longer a resident (spend < 6 months there) you are not taxed on world wide income. With both countries you are required to stay there for 183 days anyway to become a tax resident (or maintain temporary residence in Argentina), again which was my ultimate goal. Alternatively I'm thinking I could do both... get a FNV with Panama but live in Argentina 7-8ish months of the year, other 4-5 months in Panama. After 2 years apply for Argentinian citizenship then move to Panama living there 6+ months a year for years 3, 4 and 5 of the FNV (showing commitment to the nation) and then apply for naturalisation in Panama after 5 years. Thoughts?
mikeseo
2018-12-06 03:01
do you actually want to spend so much time living there? I tried Panama and left after a month. Argentina might be more livable. I don't think it's easy to get naturalized in Panama after 5 yrs,
johncitizen
2018-12-06 03:08
2 years in Argentina.
johncitizen
2018-12-06 03:13
Panama is too nebulous. Easy to get the visa, extremely difficult to get citizenship from what I?ve been told.
burrup.lambert
2018-12-06 08:15
@mikeseo Panama you mean? No idea, never been :sweat_smile:. I too have heard that of Panama, easy to get residency, hard(er) to get naturalised. Argentina seems easier and definitely a greater chance of getting naturalised. Also more bang for your buck with the way the Argentine peso is. Where did you end up @mikeseo?
mikeseo
2018-12-06 13:35
Philippines but could only stand 2 years here, moving again soon.
jase
2018-12-06 16:19
@burrup.lambert I had the same theory. Like @mikeseo I ran away after a month, it's not a place I'd want to spend time in, not to mention expensive for what it is. Also, I'm yet to meet anyone who managed to get a passport, let alone even heard a story of someone who managed it.
michael
2018-12-08 14:09
@koshis Aside from the privilege perks, airport assistance etc. Note, that in the legal eyes this is an extended 1 year tourist visa. You don't get many rights with this visa, nor is it an official right of adobe.
johncitizen
2018-12-10 04:41
Argntina is also bankrupt and heavily in debt, so all the more reason they would willingly hand out passports for cash.
burrup.lambert
2018-12-10 07:42
This is true. Hopefully this doesn't happen though! https://www.thebubble.com/argentine-citizenship-taken-away-from-400-immigrants-due-to-fraudulent-court-activity/
julienduteurtre
2018-12-11 02:36
Argentina has CFC rules and pretty bad taxes, Argentina is also one the few country you CANNOT renunciate your citizenship after getting it, I wonder what would happen if they switch to taxation on passport like US and Eritrea...
burrup.lambert
2018-12-11 04:10
Indeed that is a concern @julienduteurtre that I did not consider. Similarly there could also be a risk of compulsory military service that did previously exist and was abolished in 1994. https://www.thebubble.com/bill-abolish-military-service/. It would seem though that currently it only applies to ages 18-24, of which I am not. Combined with the current state of the Argentine military I would assess the risk as low.
As for citizen based taxation I would consider that a low risk as well. No more than my home country of Australia, or any other country for that matter, implementing it. Over the last several decades it would seem several countries have toyed with the idea, or abolished it. I would say the general world trend is moving away from citizen based taxation and sticking with residency based taxation (albeit with difference rules on how they define this).
Love to hear other peoples thoughts. I think I will speak to an Argentine lawyer and confirm some things like how easy it is to lose tax residency, an update with the conscription law etc.
All in all I'm still leaning towards it. From the accounts I've read it would seem that you can actually get your passport after TWO years. After ONE year of being in the country you apply to be naturalised, which takes about a year, so by the time that year TWO ends you have met your residency requirement and the paperwork is already submitted. Again, will confirm with a lawyer.
With where I am atm (in life) CFC laws do not apply to me. Regardless, I'd be willing to sacrifice 2 years of life (and taxes) to gain a solid Tier B Passport.
info837
2018-12-17 11:05
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2018-12-18 01:44
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magnus
2018-12-19 11:38
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2018-12-19 12:45
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2018-12-19 23:22
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2018-12-22 03:00
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2018-12-22 19:40
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2018-12-23 19:46
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2018-12-29 12:27
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philippe
2018-12-31 17:16
Hey what?s up! Back on Slack? I?m preparing for Chile Visa, is anyone up to date on Chile residency?
justin
2019-01-02 20:29
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danielabagnale
2019-01-04 10:03
I've been advised to Incorporate in Cyprus. To be able to apply the necessary tax treaties, I will need to become a non-domiciled resident there, which means maintaining permanent address there for both the companies and me as an individual. In practice I will spend but the min. of 60 days there. Therefor, I would like to minimise the costs of maintaining such a permanent address and was wondering if anyone had found any clever (yet solid) solutions for this problem?
vinodgn0088
2019-01-04 11:59
@danielabagnale, rent a room for personal residence and a fixed desk at co-working space for business address.
koshis
2019-01-05 10:13
Happy NY y'all. Does anyone have experience obtaining a work permit in Singapore, I believe it gives a one year renewable Visa. Specifically for your own company. Thanks !
blake.pope
2019-01-05 16:08
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carrabeanga
2019-01-08 01:33
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burrup.lambert
2019-01-09 07:26
Has anyone here used a trust to get around a passive income requirement that Simon mentions on his blog? Specifically Argentina?
m.moser
2019-01-10 10:46
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cornelis
2019-01-10 20:08
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cornelis
2019-01-10 20:19
@danielabagnale I might be doing the same thing and we could share the address. But I'm sure there must be a market for that already.
cornelis
2019-01-10 20:22
@danielabagnale The island of Cyprus is particularly handy because part of it is Turkish. So it's an option to leave/enter-again Cyprus 'unseen' via that route.
anosory0007
2019-01-12 05:08
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sebastian.leu
2019-01-12 13:57
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carrabeanga
2019-01-13 06:42
Posting this here, didn't get many bites in #aussie
Ok step 1 for me, I'm looking to speed up my own research by asking for country suggestions for tax residency (currently Australian tax resident)? I run 2 online businesses (ecom and consulting) and I'm looking to reduce or eliminate my tax burden, I'm also an active trader so looking to remove CGT from my life. Currently looking into applying for Malaysian residency under the MM2H program. The 183 day over 2 years requirement to maintain Malaysian residency appeals to me. I've read the MM2H program is under review here and also that nothing has changed elsewhere, hopefully its still around by October. Also need to read more about the Labuan Company route.
Any other territorial or full haven option suggestions for my situation would be appreciated.
johncitizen
2019-01-13 10:06
For low tax? Puerto Rico looks interesting
carrabeanga
2019-01-13 11:16
Yeah was wondering why Puerto Rico is missing from the Country guides on the website?
mikeseo
2019-01-13 14:52
@carrabeanga maybe Philippines, they have a retirement visa if over 35, territorial tax for non-filipinos. I think Malaysia is better though. Thailand elite visa? What did your AU tax guy say is needed to lose your AU residency?
carrabeanga
2019-01-13 19:00
thanks @mikeseo, Philippines is a good option, the NRAETB thing is on my list. Thailand I dont like the CGT (love the country!), I know its exempt after a year but its an added headache. Just 183 day test left now to get out of dodge.
Interested in all options, doesn't have to be SE Asia.
danz
2019-01-13 19:03
There are a few South American countries that might suit or perhaps Georgia?
carrabeanga
2019-01-13 19:11
@danz Georgia is certainly interesting, I had only considered banking options there but just read about exemption from 183 day test if earning over a certain threshold. Now its very interesting!
carrabeanga
2019-01-13 19:21
So a new rabbit hole - on top of the previous criteria, which countries offer exemptions to 183 day tests, or only require much shorter stays per fiscal year?
danz
2019-01-13 19:24
No idea exactly, but you might want to take a look at this: https://residencies.io/
carrabeanga
2019-01-13 19:29
didn't know this one, thanks @danz
ggiampieri
2019-01-14 00:35
@carrabeanga it's HK little secret
ggiampieri
2019-01-14 00:39
Anyway, from western ppl perspective I think SE Asia is the only good compromise. You don't want to live long term in Georgia or in any undeveloped country.
simon
2019-01-14 00:44
@carrabeanga Have you looked into NZ? No CGT and new residents are taxed on a semi-territorial basis for the first four years.
carrabeanga
2019-01-14 02:27
@simon yes! actually thats the plan, 183 days in NZ after March 31 (few different reasons for this) then likely Penang after October to kick things off. I think the Labuan LTD is my route, will need to look more closely at this.
carrabeanga
2019-01-14 02:28
@ggiampieri agreed, SE Asia seems to work best from most angles. I don't plan to live long term in the residency country, hence looking for the shorter stays. HK also near the top, but I cant stand cities... whats the little secret?
vinodgn0088
2019-01-14 02:30
@carrabeanga, if you plan to spend less than 183 days in MY while on Labuan visa, makre sure you have some solid excuses for visa renewal after two years
vinodgn0088
2019-01-14 02:31
Rules are pretty tight now.
carrabeanga
2019-01-14 02:39
@vinodgn0088 I'm assuming its the same 183 days over 2 years under Labuan visa?
vinodgn0088
2019-01-14 02:53
@carrabeanga, I am holding Labuan visa and let me explain few things. Before it was quite easy to get one and many people opted for labuan route instead of MM2H to avoid fixed deposits. This made LFSA to revise rules. Now they require you to prove that you have some solid reasons to setup in Labuan ( tax benefit reason is not accepted anymore). Also, you need to deposit 250K MYR( around 60K USD) paidup capital. An operational office address ( 400MYR per month is avg. cost) is must and if you plan to live in KL or Penanag you need to rent (residential address) a room in Labuan as well ( another 350-400MYR per month). I am still not sure about the need of residential address in labuan but agent said without that immigration won't give visa or renew the same. I renewed my visa couple of months back I had to clearly mention why I need labuan visa ( business reasons). Also, I had to raise the basic salary to support the renewal application. Approx maintenance cost are following
vinodgn0088
2019-01-14 02:53
Operational office addres : 400MYR per month
vinodgn0088
2019-01-14 02:53
Residential address in labuan : 350 MYR per month
vinodgn0088
2019-01-14 02:54
Annual audit fees : minimum 800 US$ ( if opting 3% tax)
vinodgn0088
2019-01-14 02:54
visa renewal cost for two year 1000 US$
vinodgn0088
2019-01-14 02:55
Accounting fees: Depends on the accountant and the platform. I use quickbooks
vinodgn0088
2019-01-14 02:57
Agent annual fees: 1700 US$
vinodgn0088
2019-01-14 02:59
personal tax is a bit tricky. You need to have 10000MYR as minimum salary. Out of this 5000MYR can be marked as monthly director fees.
vinodgn0088
2019-01-14 02:59
Until 2020 the following tax benefits are available if you are tax resident in Malaysia.
vinodgn0088
2019-01-14 03:00
director fees are not taxable. ( 5000 MYR not taxed every month)
vinodgn0088
2019-01-14 03:00
50% of director basic salary not taxable ( 2500 MYR not taxed)
vinodgn0088
2019-01-14 03:01
Remaining 2500MYR per month is taxable at progressive rates. the resident tax benefits available if you have wife, kids etc.
vinodgn0088
2019-01-14 03:02
If you are not tax resident flat 28% tax on whole 10000MYR per month
vinodgn0088
2019-01-14 03:04
They have already planned to remove the flat 20000MYR tax option. So I don't think they will extend the director tax benefits too and this benefit will most likely end in 2020.
vinodgn0088
2019-01-14 03:05
While creating Labuan midshore they thought it might become like HK or Singapore, but failed and Labuan is on tax haven list of many countries
vinodgn0088
2019-01-14 03:09
Also, you won't get a visa if your plan is just to have a labuan holding company.
vinodgn0088
2019-01-14 03:12
"I'm assuming its the same 183 days over 2 years under Labuan visa" << Please check the rules given on http://lampiran1.hasil.gov.my/pdf/pdfam/individual.pdf
carrabeanga
2019-01-14 03:19
@vinodgn0088 thank you so much, really appreciate all the details!
carrabeanga
2019-01-14 03:19
I have potential use cases for the ltd but they are clearly trying to disincentivize the option.
carrabeanga
2019-01-14 03:19
Can you tell me where I can see this identified "tax haven list"?
me1892
2019-01-14 03:22
me1892
2019-01-14 03:23
Oh whoops, that is the list the golden visa "blacklist" which came out recently.. corporate entities is a different list
carrabeanga
2019-01-14 03:25
yeah thats the CBI/RBI list
vinodgn0088
2019-01-14 03:40
Its hard to give you a full list of countries which consider Labuan as tax heaven. But some example.
vinodgn0088
2019-01-14 03:41
India-Malaysia DTAA excludes Labuan from taking benifits unless it opts for 1967 tax act (Malaysian normal corporate tax rate instead of 3%)
vinodgn0088
2019-01-14 03:41
https://www.pwc.pt/en/pwcinforfisco/tax-guide/2018/tax-havens.html Portugal treats Labuan as tax heaven
vinodgn0088
2019-01-14 03:41
Many EU countries treat labuan as tax heaven.
vinodgn0088
2019-01-14 03:42
There are some countries where they treat payments to Labuan as BEPS becuase the tax rate in labuan is less than 60% of their country's headline tax rate
vinodgn0088
2019-01-14 03:43
This tax heaven is an issue if you are mainly a B2B trader.
koshis
2019-01-14 03:48
@carrabeanga @simon are you able to provide anymore details on the NZ option (no CGT and 4 years semi territorial) that sounds very interesting !
carrabeanga
2019-01-14 03:53
@vinodgn0088 thanks again, my businesses are B2C so no issues there. I was mostly concerned about potential issues related to merchant services.
carrabeanga
2019-01-14 03:53
@koshis check IRD here: https://www.ird.govt.nz/income-tax-individual/temp-tax-empt-foreign-inc.html
me1892
2019-01-14 03:54
@carrabeanga you could always spin up a "payment processor" LLP somewhere to have better merchant options
carrabeanga
2019-01-14 03:56
@me1892 yep looking at the UK LLP option, very interesting
koshis
2019-01-14 03:57
@carrabeanga for you to be exempt from AU tax, the main criteria is that you do not have a permanent home in Australia, and that you do have a permanent home in your new country as well as a right to reside there for more than 5 years. 1 year renewable visas will not suffice, which I believe Georgia and the Labuan option are. The MM2H visa will work as its 10+ years but it is slow processing, phillipines SIRV or SRRV and Thailand Elite are likely your quickest and cheapest options to obtain a permanent Visa. Also you cease being an Australian tax resident once you meet the criteria and have completed a final tax return. This final return can be done at anytime, for example say you did it in September, then you would do your final return for 2019/2020 FY but period only from jul-sep. Same thing if you left in March 2020. You would do final return from Jul19-march20. It doesn't have to be that you spend 183 days out of the country in the FY you plan to leave if that make sense.
carrabeanga
2019-01-14 04:02
@koshis yep thats part of the reason why I'm heading to NZ first. I'll take a closer look at Thailand, I already like the Philippines option but I may be employing there this year so not sure how that would affect things
carrabeanga
2019-01-14 04:12
@koshis also take a closer look into the CGT exemptions in NZ, I know precious metals and cryptocurrencies are treated as "property" in NZ and any gains are taxed as income.
koshis
2019-01-14 04:15
@carrabeanga yes I was curious about that. I wonder if you could do metals and crypto trading through a foreign entity and have the gains as exempt CFC income or exempt foreign trust income.
burrup.lambert
2019-01-14 04:49
@koshis, mind sharing your info on the requirement for a 5 year + visa in new location?
koshis
2019-01-14 05:17
@burrup.lambert that's the info I've been provided from the international tax lawyer I've been using here in Aus. Apparently at law the requirement is that you have a permanent house outside of Australia and that you plan to leave permanently, and the courts and the ATO take the view that if your Visa is not for more than 5 years l, then you did not have the means or intention to stay permanently out of the country.
burrup.lambert
2019-01-14 05:34
@koshis, are you able to ask your tax lawyer for evidence of that? A Tax Ruling for example? I haven't been advised by my accountant of any 5 year visa requirement case. I was advised that if you leave, as a general rule of thumb, you should try and leave for minimum 2 years before returning and when you do return do not return more then 4 times, 4 weeks total a year. This is based off previously ruled TRs and the "mother" court cases that are used as guidance. I'm searching through my emails to try find the exact ruling where it was determined this specific person who left and then returned 2 years later (unforeseen circumstances) was deemed not to be a tax resident in the eyes of the ATO.
greenard23
2019-01-15 14:26
Has anyone on here become a non-habitual resident in Portugal?
d.mikocionis
2019-01-16 02:15
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bhugbhug
2019-01-16 13:33
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bogdan.pahomi
2019-01-22 14:38
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ivopalazzi
2019-01-25 21:21
What if a non Dom works via Internet (under his name or under a company in an offshore country, not Malta). Are his earnings not remitted to Malta NOT taxable? There is a lot of confusion in this aspect, many accountants say that Internet-profits (e-commerce, drop shipping, digital products...etc) is liable as it arises in Malta, other says it isn't . What's your intake on this? There is a big grey area in this topic. Has anyone got some reliable info on this?
vinodgn0088
2019-01-26 06:37
@ivopalazzi, Say you are a non-dom living in Malta and is personally tax resident in Malta. If you run an internet based business (let it be under your personal name or a company name), you are effectively managing it from Malta soil. A company/business managed from Malta is deemed as tax resident in Malta and is liabile to Malta corporate tax. If you operate under your name ( i.e, a sole proprietor) your income will be liable to personal income tax in Malta. A foreign income is an income which you generate by doing a work outside of Malta. I.e you are doing the job while you are in another country or you are investing in properties in another countries or passive income like royalties, dividend from companies which is not owned by you and the company is resident in some other country.
ivopalazzi
2019-01-26 10:23
Incorrect: All lawyers agree on the following: "The Malta tax authorities may consider that it is a company which is resident in Malta, however since the company would be resident but not domiciled in Malta, they would only be able to tax that income of the company which is remitted to Malta or any income and/or capital gain of the company which arises in Malta"
vinodgn0088
2019-01-27 00:30
@ivopalazzi, All the lawyers out there want to get a new client and that's their motto. If you believe what I said is incorrect, you always have option to seek a private written confirmation from Maltese tax authority. ( I think you need a Malta residency id and tax id to get such written confirmations). Just imagine you own a Belize IBC which do your drop shipping, digital business), You are not allowed to operate in Belize, you say that you are not taxable in Malta because you don't have Malta clients, you are keeping money outside Malta. Then which country got right to tax you?
vinodgn0088
2019-01-27 00:31
You better read OECD place of effective management rule.
tiendamodel
2019-01-27 15:07
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romaindepotter
2019-01-28 03:09
Hi, guys hope you all doing well. I wondering if some of you already experienced the residency program of Georgia or if some of you can explain me more how it works? If the creation of a local company is mandatory as the freedom surfer post said?
Wish you a good day!
ivo
2019-01-28 10:51
Hi @romaindepotter, you are effectively applying for work residency, therefore the creation of a company is mandatory unless you find a company that hires you. There are new requirements for Georgian companies in terms of revenue and salary for the latter, so most opt for the former solution.
romaindepotter
2019-01-28 12:12
Ok, and do you know how much that cost ? After the creation of the company the residency is directly applied for the owner ? Also a foreigner can open a company like this ? No nominee or this kind of stuff ?
Thanks for your response !
ivo
2019-01-28 12:46
@romaindepotter If you find somebody who is willing to provide you with a legal address and do the incorporation filing yourself, you can set up the company for about 100$ and another 200$ for the residency application. Alternatively you can use a professional service to do everything for you.
I happen to own one and can help you with the setup. Price for company, bank account and residency will be ~1300?. You can pm me for more details.
romaindepotter
2019-01-28 23:26
@ivo Ok thank you for help and your enlightenment, I'll get back to you if I need.
romaindepotter
2019-01-28 23:26
Thank you ! :pray:
ivo
2019-01-29 07:09
No worries, good luck with it. Let me know if you need some more help.
angelowysz
2019-01-29 07:24
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2019-01-29 08:38
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benny
2019-02-01 02:41
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creativespot
2019-02-04 06:57
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22525
2019-02-06 00:52
in GEO usually they give you residency card for 6 months only and then you should renew it, usually fairly easy but the company must have activity etc
imatfaal
2019-02-06 04:05
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p_jeuch
2019-02-10 23:25
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contact007
2019-02-15 18:06
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wearethepacktory
2019-02-17 07:18
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pierre.berthalon
2019-02-21 19:07
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redareda9
2019-02-22 15:30
I'm currently in the process of switching my tax residency to a new one.
Could owning 3 bank accounts in my home country be a problem?
simon
2019-02-22 16:02
It usually isn?t a problem but I?d recommend not using them as your main accounts.
redareda9
2019-02-23 10:11
Thanks, good to know.
lucasb2611
2019-02-25 13:31
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clem.boulanger2611
2019-02-25 14:21
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2019-02-26 02:41
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2019-03-01 09:23
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2019-03-01 14:57
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2019-03-04 13:04
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2019-03-04 15:34
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2019-03-04 16:02
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2019-03-04 16:50
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2019-03-06 07:00
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2019-03-06 07:08
@myspace70000 has left the channel
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2019-03-11 01:48
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2019-03-13 05:06
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2019-03-13 12:10
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immanuel.debeer
2019-03-13 15:42
@simon by any chance, do you have any articles or guides on the Singapore EntrePass?
simon
2019-03-13 15:56
I bank there and go every now and then for meetings but have never seriously considered living in SG and I guess that's why I have written so little about it. On paper it sounds great but in reality I find that it just doesn't compare to the other Asian financial hubs (HK, Tokyo, Shanghai).
simon
2019-03-13 15:56
Hawksford has a pretty good guide on the Entrepass: https://www.guidemesingapore.com/business-guides/immigration/singapore-visa/singapore-entrepreneur-pass-entrepass-scheme
immanuel.debeer
2019-03-13 16:08
@simon I've always had a soft spot for Singapore. How are you finding Hong Kong? I have a lot of friends that live there too but for me rental prices seem insane
immanuel.debeer
2019-03-13 16:11
Did you get an entrepreneurs type visa for Hong Kong?
phelipeslinhares
2019-03-13 17:17
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mrmarcroca
2019-03-13 22:25
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daniel
2019-03-13 23:00
@simon can you speak to the advantages of holding residency in Tokyo?
simon
2019-03-14 10:15
@daniel Non-permanent residents of Japan are taxed on a territorial basis. This means that if most of your work is performed outside of Japan or if most of your income is passive in nature and sourced outside of Japan, you can live there nearly tax-free.
stolzlos
2019-03-14 14:08
@simon what is the definition of non-permanent resident in the case of Japan? Just *not* having a residence permit? What about owning property?
mikeseo
2019-03-15 00:36
Non-Permanent Resident
A person who has lived in Japan for less than five years, but has no intention of living in Japan permanently.
mikeseo
2019-03-15 00:36
Non-permanent residents are subject to tax for the following income:
(1) Japan-sourced income
(2) Non Japan-sourced income which is paid in Japan
(3) Non Japan-sourced income which is remitted to Japan
mikeseo
2019-03-15 00:37
easier to get: specialist in humanities and international relations 3yr renewable - can be non permanent resident for tax purposes, need to show the ability to make a living, and a sponsor.
mikeseo
2019-03-15 00:38
harder to get: business manager/investor 3yr renewable - can be non permanent resident for tax purposes, need to show the ability to make a living, and a sponsor. higher prestige and more stable
mikeseo
2019-03-15 00:39
basically if I do the work in japan, I'm subject to japan income tax
and if I make business trips outside of Japan, the income tax is proportionately reduced
if i work 1 month outside of japan than 1/12 of my jp income tax is reduced.
Permanent resident for tax purposes vs. for immigration are different.
One tries to be inclusionary (more revenues), while the other is exclusionary (keep unqualified people out).
mikeseo
2019-03-15 00:40
In tax terms, a main consideration is the question of the Permanent Establishment.
That is, where is the fixed location of the business from where the income is generated?
If it is generated by you, as a self-employed person and living here, the income is considered sourced from Japan.
That the revenues come from overseas clients doesn?t change this.
daniel
2019-03-15 01:11
If i've lived in Japan for more than 5 years in the past, and now returning with no intention of living permanently, am I a non-permanent resident?
simon
2019-03-15 01:16
@mikeseo Correct, the income has to be generated outside of Japan to be considered foreign-sourced.
@daniel According to the Deloitte files: An individual who is domiciled or who has a residence in Japan for one year or more is a resident. A non-Japanese national who has spent five years or less in Japan in the preceding 10-year period is regarded as a nonpermanent resident.
daniel
2019-03-15 01:17
great. thanks Simon :slightly_smiling_face:
stolzlos
2019-03-15 06:21
@mikeseo @simon thanks
rtiagm
2019-03-16 15:01
If I understand correctly, in the case someone is able let?s say stay 3 or 4 months out of Japan and generate income from remote work while away that income is non taxable, does it need to be reported ?
rtiagm
2019-03-16 15:05
I wonder if it would be hard to renew the visa if Immigration detects that someone has been away 3 or 4 months every year
rtiagm
2019-03-16 15:12
Also, by any chance does anyone know if the 5 years also counts tourist visas? I?ve stayed in Japan on and off for the past 10 years. I think less than 5 years if I don?t consider tourist visas, which allows me to stay 3 months at a time there
simon
2019-03-16 16:13
@rtiagm Usually such income doesn't have to be reported. I do not know if such absences would be an issue when renewing a visa, however, or if tourist entries count towards the five years.
redareda9
2019-03-17 12:16
Anyone here with a Thai tax residency?
llc
2019-03-19 14:15
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jorgosgravalas
2019-03-19 16:47
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leursivan
2019-03-20 08:26
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juarnaud
2019-03-22 12:57
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contact008
2019-03-27 14:29
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philcoub
2019-03-28 08:04
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ivan
2019-03-30 19:13
Am I right to assume that whenever a country states that while residing there you won't be taxed on foreign income it means that if you live there and manage a business from there (a corp or pass-through in a tax haven) they'll assume your income is generated within their territory and hence your company taxed by their normal income tax rate as if it were national?
Countries like Chile, Uruguay and New Zealand which in Simon's lists are mentioned to offer exemptions during the first years of residence are therefore going to declare your business local and tax its earning as local , is that right?
So in the end the only viable option to reduce these taxes legally is to become a tax resident in countries like Andorra, Paraguay or similar which have really low income tax rates?
The other questions is how far does the management issue get? Let's assume you're a tax resident from a high income tax jurisdiction who is constantly traveling and therefore managing his offshore corp outside his tax residence. Wouldn't that mean you aren't managing your business from your tax residence and your country shouldn't be able to get too far on declaring your company as managed in their territory? I guess something like this would be solved in court rather than on paper anyways.
ivan
2019-03-30 19:18
I find very contradictory information on this topic in the internet. Some seems to claim that just opening an offshore corp and residing in a jurisdiction that doesn't tax you on foreign income is enough.
Even the management issue doesn't seem to be clear at all. Do the share holders count, do the directors count or you could just hire yourself a manager and you'd be alright?
mikeseo
2019-03-31 00:28
I think you're right, if you have residence and work inside the territorial tax country Panama/Paraguay/Philippines/Malaysia etc it's probably technically considered local income, but those countries tax offices don't seem very aggressive/advanced...So you could probably get away with living and working there without filing taxes, as long as your citizenship country doesn't need proof of you paying tax somewhere else. I don't know what would happen if for example your Singapore bank reports your income to Panama, if the Panama tax office will bother fucking with you. Might be an issue if you live in a more developed territorial country like New Zealand/Japan. I know in the Panama, Paraguay, Philippines residence process I was never asked about taxes.
mikeseo
2019-03-31 00:30
A better way might be to get residence in the territorial country and than spend your time working in 1st world countries as a tourist? You could file taxes in the territorial country to satisfy your citizenship country but you did your work outside the territorial country so they won't tax?
mikeseo
2019-03-31 01:12
ivan
2019-03-31 01:53
Well, I'm actually in Argentina which income tax law specify that you lose your tax residence after one year outside the country or after another country declares you tax resident.
ivan
2019-03-31 01:55
So based on what you just sent the situation is quite optimistic. I could just keep working as a tourist in different countries.
ivan
2019-03-31 01:57
Thank a lot for that diagram Mike, very enlightening.
mikeseo
2019-03-31 02:22
ya why not just open a personal US bank account and than just spend 4 months in Rio, 4 months in Montevideo, and 4 months in Santiago? rent 3 appts and rotate
mikeseo
2019-03-31 02:25
or rent an appt in Montevideo to store your stuff, spend 5 months there, spend the other 7 months traveling?
ivan
2019-03-31 02:57
Sounds like a plan. Ultimately I'd like to get a Spain citizenship. For that I need to postulate for a business visa which requires capital I still hasn't fully saved. Spain is offering the citizenship after one year of residence to spanish descendants (my case) so it's very attractive. After that Andorra sounds like a great place to raise my family and stay most of the year.
Spain demands you show a bank balance during the postulation. My corp is in Belize, but I guess I could open a personal saving account outside Argentina (to avoid giving explanation to the government) as you just mentioned to distribute dividends from the corp and show that account to Spain instead of something related to Belize which will look very sketchy.
I wonder if an US account is significantly better for this scenario than an Uruguay one. I think they're more private than a Mercosur one, right?
simon
2019-03-31 04:22
Indeed, work performed in a territorial taxation country will usually qualify as local income and be subject to taxation (the same applies for countries offering temporary exemptions, except in a few specific cases). As @mikeseo's chart shows, the key is to qualify as a tax resident in a territorial taxation country but spend as little time there as possible. In fact, if you qualify based on domicile rules you may not even have to spend any time there.
mikeseo
2019-03-31 04:28
I think you have to decide between paying no tax or getting Spain citizenship, not both at the same time.
simon
2019-03-31 04:28
@ivan Uruguay is a CRS country so there will be no privacy there. Belize also is a CRS country, as is Panama, Chile etc.
mikeseo
2019-03-31 04:30
I suggested US bank account just because they don't CRS report and you would be living outside Argentina so it should still be legal. But that doesn't work with your Spain plan. I wouldn't suggest hiding bank accounts if you're trying to get Spain citizenship.
simon
2019-03-31 04:32
Indeed, banking in a non-CRS country does not exempt you from having to report your income / assets. It just means that the reporting will not happen automatically.
mikeseo
2019-03-31 04:33
Depending on your timing/plan,
either pay no tax by staying outside Argentina for a few years as a tourist traveling around and save up cash before you go to Spain,
or move to Spain now and pay high taxes for a couple years until you get citizenship, than move to Andorra and pay low taxes after.
simon
2019-03-31 04:36
How long does the citizenship application process takes? I guess 1-2 years?
simon
2019-03-31 04:38
There's a similar fast-track in France where those who are from French-speaking countries can apply immediately upon arrival but the process takes up to two years to complete (and you have to spend most of that time in the country).
vinodgn0088
2019-03-31 04:40
@mikeseo, Don't know about other countries you mentioned, But, Malaysia is becoming aggressive and they have already started sending emails to tax residents (not only Malaysian citizens) to disclose foreign accounts and pay proper taxes to avoid penalties. Once the CRS info starts flowing, more issues will popup
simon
2019-03-31 04:41
It's a great opportunity for Canadians but two years in France = brutal tax and compliance burden
mikeseo
2019-03-31 04:43
@vinodgn0088 oh yikes! Nothing like that yet in the Philippines.. For Malaysia, is that only if you claim tax residency and file taxes there or just if you spend over 6 months inside?
mikeseo
2019-03-31 04:46
Philippines as a former Spanish colony has a deal with Spain too, I read it's 2 years residency to get citizenship but takes another 2 years to actually get the passport... for filipinos.
mikeseo
2019-03-31 04:48
maybe you can do the Spain expat tax regime, while waiting for your passport, 25% tax for 5 years. https://www.expatica.com/es/finance/taxes/expat-taxes-2-101347/
simon
2019-03-31 04:51
It's unlikely that CRS will be implemented in the Philippines anytime soon. From the moment a country starts working on it, it usually takes 2-5 years before automatic exchange begins. https://www.oecd.org/tax/transparency/AEOI-commitments.pdf
simon
2019-03-31 04:51
You have to be careful about country-specific exchange agreements, however, as some non-CRS countries have signed those.
simon
2019-03-31 04:52
For example, Taiwan has agreements with most OECD countries even though it isn't a CRS country (and will never be as Beijing blocked it).
vinodgn0088
2019-03-31 04:55
@mikeseo, I think the changes will first affect those who file tax returns in Malaysia ( including MM2H visa holders). Once the CRS info starts flowing they will start targeting the ones with offshore companies and long term personal residency in Malaysia.
mikeseo
2019-03-31 04:57
I wonder if countries like Panama would choose to act on CRS info or if it will hurt them by causing rich people to leave the country.
mikeseo
2019-03-31 04:58
Or if fucked up 3rd world countries like Philippines and Paraguay would want to or be able to act on CRS info.
vinodgn0088
2019-03-31 05:01
@mikeseo, I think Philippines and Paraguay won't do anything to foreign citizens as tourism is their major income source with many expats living there long term.
mikeseo
2019-03-31 05:04
and even if that happens than we start living/working in another country and play the territorial card
vinodgn0088
2019-03-31 05:10
@ivan, your best option would be setup a company in Andorra and get a work permit. Then the same time get a non-lucrative visa from Spain. Have a residential address in Andorra-Spain border (Spanish side) and commute frequently to Andorra to satisfy the work permit conditions. Just make sure that you draw a salary from Andorra to satisfy non-lucrative visa income requirements. Keep the profits accumulated in Andorra company itself and pay 10% tax. Since your personal residence is in Spain, you can pay salary tax in Andorra first and then use DTAA to reduce Spain personal tax burden. I think this way you can have route to Spanish citizenship and Andorra corporate tax residency to reduce overall tax. Having a local staff in Andorra + a small 8m2 office will boost substance for Andorran company
ivan
2019-03-31 11:10
Thanks a lot guys, really great useful information. My plan to get Spain citizenship was to pay their high taxes actually ( I was considering it the price to pay for an EU citizenship). non-lucrative visa (the one I would start with demands you don't work, but I'm not sure if that restrictions is only applicable to work within their territory. I'd have to re-check that with @vinodgn0088 plan in mind (which sounds awesome by the way).
@simon you mentioned Belize being CRS, that applies to bank accounts alone or they started to undisclose IBC info automatically as well?
ivan
2019-03-31 11:18
You need one year of residence to apply for the citizenship. And it wouldn't surprise me if that process takes 1-2 years more.
vinodgn0088
2019-03-31 11:23
@ivan, non-lucrative visa prevents you from taking up a job or doing business within Spain. There is no issue with working in Andorra as you are getting Andorran work permit. But make sure you commute to Andorra very frequently and live near Spanish border in order to boost chances of Andorran work permit renewal.
ivan
2019-03-31 11:27
Right, and keeping substance in the andorran company and working there should also keep income taxes low in Spain since it's a corp. That said, if I get audited on all of this activity by Spain, I doubt they would like it very much. If I were them I wouldn't give me the citizenship, haha. Have you heard of someone who pulled that out, even though it sounds 100% legal. ?
simon
2019-03-31 11:43
@ivan Only financial accounts (normal bank accounts, brokerage accounts etc)
ivan
2019-03-31 11:45
Thanks Simon. You think it would be possible to open a bank account in the US for an IBC (the business is web development and it's all very legit). Or I should simply open an account for myself and use it to receive dividends or a salary?
simon
2019-03-31 11:47
There?s no chance for an IBC, in fact it?s nearly impossible to open accounts for foreign companies in the US.
It?s very easy to open personal accounts or business accounts for US entities.
simon
2019-03-31 11:48
If you need a US account for your IBC, the only workaround that I know of are the fintech services (TransferWise, Payoneer etc)
ivan
2019-03-31 11:48
And what about an LLC with and IBC as sole partner? Still no chance?
ivan
2019-03-31 11:49
Yes, and I have all the fintech which is great. It's not for operations only for saving. But personal accounts would work well for that.
ivan
2019-03-31 11:49
I just distribute dividends and keep them in personal accounts.
simon
2019-03-31 11:49
It?s fairly easy for an LLC even with a foreign owner but may be overkill if you only need a bank account.
ivan
2019-03-31 11:50
I could distribute the payment within Payoneer. Business account to partners personal accounts and withdraw to the banks from there.
ivan
2019-03-31 11:52
So Argentina income tax law says you automatically lose your tax residence after 12 months outside the country. In theory one should request the local IRS to process that.
ivan
2019-03-31 11:52
Most people I hear from do get a residence in another Mercosur country like Uruguay first.
ivan
2019-03-31 11:52
But I guess they would have to comply with the law.
ivan
2019-03-31 11:54
I mean the local IRS complying with the law
simon
2019-03-31 11:54
It?s easy to get a residency in another Mercosur country if you have an Argentine passport. It?s not exactly freedom of movement but almost. Considering Uruguay?s five year exemption on foreign sourced income, it?s not a bad choice.
simon
2019-03-31 11:55
Even if you have to pay local taxes, it?s probably a lower rate than in ARG
ivan
2019-03-31 11:59
Income taxes are a bit higher in Uruguay and imported goods are even more expensive than in Argentina. Local prices are pretty expensive compared to Chile or Argentina. Their local population is also taxed pretty aggressively. It's the territorial taxation + zonas francas (free zones) that made them the local offshore jurisdiction.
ivan
2019-03-31 12:01
But it still sounds like a good idea. If I can get away with cutting my ties with Argentina and leaving the country as tourist to travel around without committing to one residence it would be great, though.
simon
2019-03-31 12:05
Interesting to know for Uruguay. I guess Argentinian still go there because it?s near BA? Paraguay is also a good option in the region, the taxes there are very low (and it?s a territorial taxation country)
ivan
2019-03-31 12:08
Yes, many argentinians have companies in Uruguay. For some weird reason Argentina treats them as corps and doesn't declare them local. In many cases I guess those have nominee management, but still....
ivan
2019-03-31 12:09
Uruguayan corps are also taxed only for their national income.
ivan
2019-03-31 12:09
Also, many big latin american companies like Mercado Libre (Local Ebay)
ivan
2019-03-31 12:10
operate from uruguayan zona francas. Those are mostly reserved for big companies and don't pay taxes at all. In that scenario you can even live in Uruguay and don't pay income taxes for dividend distribution nor corporate income.
ivan
2019-03-31 12:15
Argentina has its own zona francas. One of them is fairly easy to qualify for, it's in Tierra del Fuego, our southmost province. But you'd have to be willing to live there.
ivan
2019-03-31 12:17
That said, some locals (with enough money to bribe the local IRS if things go wrong) do create their businesses down there even though they manage the business from Buenos Aires.
simon
2019-03-31 12:22
If you don?t mind the cold weather, I guess there?s some amazing nature down there. I?m planning a trip to Bariloche later this year, maybe I?ll make my way down to Ushuaia.
ivan
2019-03-31 12:29
My wife lived in Ushuaia for a couple of years, There's no chance I convince her to go there again, haha. Besides the country is doing really badly, there might be some good business opportunities if peronismo doesn't win this year elections, though.
Bariloche is really nice. I recommend you visit San Martin de los Andes and La Angostura as well. The place is very beautiful at this time of the year, spring and summer. Winter is for snow sports mostly.
ivan
2019-03-31 12:30
Calafate is also pretty nice.
ivan
2019-03-31 12:31
If you're into trekking El Bolson is a nice place to do some mountaineering as well.
simon
2019-03-31 12:34
Thanks for the recommendations, I?ll look up those places.
ivan
2019-03-31 12:36
Sure, don't hesitate to write me if you need more info. I've backpacked in the region a couple of times. This will be a difficult year for the country, but it's really cheap after last year devaluation and it will probably get cheaper as we get closer to the elections.
ivan
2019-03-31 12:37
I'd say it's currently the cheapest in the region. Rent prices are a joke lately.
simon
2019-03-31 12:40
Would you recommend investing in the country to take advantage of the current exchange rate? I guess it would be prudent to wait after the election.
ivan
2019-03-31 12:41
I think it's prudent to wait for the re election as you mentioned. It we go back to something like the previous government we'll end up like Venezuela in a few years.
ivan
2019-03-31 12:42
I'd say if they finally get rid of Maduro in Venezuela you'll have a better bet there. You can currently purchase a house for $25000 there.
ivan
2019-03-31 12:44
Real estate in Argentina is expensive for the region and renting prices are very low. We have that strange situation because most people save in USD or real estate.
ivan
2019-03-31 12:45
But if the crisis intensifies you might get some really good prices near Bariloche.
martin
2019-04-02 07:22
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ivan
2019-04-02 20:53
Guys, some of you might find this info useful. I've been talking with one of Uruguay's free zones (zonas francas). These are basically private organizations allowed by uruguayan law. Inside companies rent offices or warehouses for their activities. The companies in there are tax free. they just need to have 50% of uruguayan employees (for services).
ivan
2019-04-02 20:54
As far as I understand if you're an uruguayan tax resident and even manage your company from Uruguayan soil, dividends distribution isn't taxed.
ivan
2019-04-02 20:55
The specific one I talked to requires you to rent an office in their complex for USD 1000/month.
ivan
2019-04-02 20:55
That one is 40kms away from Buenos Aires, just accross the river.
ivan
2019-04-02 20:56
If someone is interested let me know and I'll give you more info as I find out more.
wowkroskar
2019-04-03 13:47
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doujak
2019-04-06 07:38
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2019-04-07 06:30
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2019-04-09 07:29
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2019-04-09 09:12
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kaimana
2019-04-10 03:52
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julianmb
2019-04-13 01:31
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odailton.macedo
2019-04-16 00:37
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2019-04-18 22:11
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2019-04-19 09:22
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2019-04-21 15:31
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ivan
2019-04-22 19:34
Guys, how do you usually work around not having a real residency when it's time to verify your address for banks and other services?
simon
2019-04-23 00:23
@ivan I use a virtual address in my country of residency for all my bank accounts, credit cards etc. In my experience, such addresses are available in most countries. https://www.freedomsurfer.com/mailing/
ivan
2019-04-23 00:38
My biggest concern is with all the services which ask for a proof of address like an utility bill.
I see you answered this:
Hi Phil, the workaround is to have your bank send a statement to your virtual address. Most banks will accept a change of address without requiring any proof (some, in countries like Canada, even allow account holders to change their address online). Once you have that statement, you can use it to open new accounts. Make sure the address is a real street address as PO boxes are not usually accepted by banks.
The issue is that I want to cancel my local bank accounts as I leave the country.
simon
2019-04-23 01:25
If your drivers license has an address on it, you could use that. Some national ID cards also have addresses on them.
ivan
2019-04-23 01:49
Thanks Simon. Have you heard of any cases where a country declines your tax residency change because of keeping your driving license or national residency in the ID?
yuli
2019-04-23 15:45
I have multiple banks worldwide - and 99.99% of the time bank statements serve as proof of address - so having a few of those comes in handy.
simon
2019-04-24 03:01
I'm not aware of any cases where a non-residency claim was denied specifically for keeping a drivers license (especially if you have a valid reason to keep it).
ivan
2019-04-24 21:54
Thanks! Sounds like I could keep those ties with Argentina at first then.
simon749
2019-04-25 01:25
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ivan
2019-04-25 16:56
Great info, thanks Yuli!
ivan
2019-04-25 16:56
So Passport + PO address + Bank Statement works
ivan
2019-04-27 17:29
Anyone here residing in Georgia? I'm curious about the current political situation. Sounds like a great residency option. Is the freelancer visa as easy? Just $1500 in a bank?
burrup.lambert
2019-04-28 05:16
Anyone gone through the Chilean residency loops? I was | | this close to committing to Argentina but the current processing time for a Rentista visa is 12 months...
ivan
2019-04-28 14:37
What specific loops did you encounter @burrup.lambert?
ivan
2019-04-28 14:39
I researched the permanent residency visa and it didn't sound that hard. In theory it will take you longer to get the citizenship than in Argentina. But I wouldn't trust in Argentina government for delivering its promises. The country is in a deep crisis.
odailton.macedo
2019-04-28 16:03
Hello everyone, I am new to the group, let me introduce myself: Odailton is a Brazilian citizen, I am a trader and my income comes from Brazil and the USA, I am in the process of migrating all my income generation to the USA. At the moment I am interested in acquiring a fiscal residence in another country in which I have no link, following the strategy of the five flags described by Simon, I would like to thank you for the content, my preference has been for Chile and Uruguay, I am interested in spending more time in Chile, this may have to influence my decision. How do you evaluate these factors? If you have experiences in these two countries and can share, thank you very much.
burrup.lambert
2019-04-29 13:50
@ivan.sorry might have worded that wrong. I meant has anyone completed the process? From what I can tell Rentista visa in Chile is faster processing time, less specific so the applicant has more flexibility and it may not even require anything except a bank account with a bunch of cash in it.
ivan
2019-04-29 15:31
Yes, it's possibly like that. I visited the consulate one year ago while researching the visa options. Spain also has a similar visa.
ivan
2019-04-29 15:32
The thing is I'm a mercosur citizen so it's easier for me and I didn't research the other options too much.
saartje.vandenhende
2019-04-29 18:24
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heydevesh13
2019-04-30 01:04
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burrup.lambert
2019-04-30 06:12
I thinking long term here maybe in the future, assuming I get Argentinian/Chilean citizenship, maybe move to Spain and apply for naturalisation after 2 years instead of the usual 10.
ivan
2019-04-30 15:27
@burrup.lambert, we discussed the Spain citizenship for latin americans recently. Looks like it's pretty much a lie. They start the naturalization process after 1 year but they delay the process by a lot of years. I guess they're really desperate for tax payers.
burrup.lambert
2019-05-01 06:48
No doubt! Well that's a shame. Definitely like to hear some people who have tried it.
ravinalle
2019-05-02 06:57
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michael
2019-05-02 08:59
Why not Portugal? Their 'Golden' Visa? @burrup.lambert @ivan
ivan
2019-05-02 13:34
How golden do you need to be to participate? I think it was more money than what I had to invest.
tuan.luu1992
2019-05-02 14:17
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impeccablebiz
2019-05-02 18:55
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burrup.lambert
2019-05-03 01:04
@michael, same as @ivan, too much capital for me at the moment, will definitely not rule it out in the future though,
vinodgn0088
2019-05-03 01:27
@burrup.lambert, Still there is no confirmed news about citizenship granted to a PT Golden visa holder. I think PT Golden visa is just an easy way to get a PT permanent residency. For citizenship you actually need to live there; learn Portuguese language (at least A2 level) and contribute some taxes.
franklin.tradinglife
2019-05-07 00:22
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bussyscorp
2019-05-07 13:37
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ivan
2019-05-07 16:03
Guys, I just got out of the phone with an accountant in Ushuaia (the southmost city in Argentina). The place is a tax free zone in case someone is interested. That means that as long you have your tax residence there you don't owe any national taxes. You still have to do tax fillings every year, though. And some of those in a monthly basis.
ivan
2019-05-07 16:04
That's the place, the town isn't that pretty, but the surroundings are definitely good looking.
sergiy.shlykov
2019-05-07 17:02
@ivan what are the requirements to maintain tax residency?
ivan
2019-05-07 17:07
In Argentina I think it's half a year living within the territory. Similar to Chile or Uruguay. Difference with Chile and Uruguay is that Argentina is faster to get a citizenship.
ivan
2019-05-07 17:08
And Chile and Uruguay stop having territorial taxation after a few years.
ivan
2019-05-07 17:09
This place is a free zone, different thing. If you're okay with harsh winters (not that harsh because of the global warming and the sea) it's a good option I believe. I'll be probably moving there to save many on taxes for a while so if anyones is interested I can keep you updated.
ivan
2019-05-07 17:09
It's a very touristic place because it's the southmost city in the world.
marioaffonso
2019-05-07 18:42
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cezaro.ohriniuc
2019-05-07 19:17
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jannechm
2019-05-07 20:30
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vinodgn0088
2019-05-08 04:19
@ivan, How about you setup a business in Ushuaia, have a personal residence address there just for compliance sake and then live in a developed region in Argentina. Doable?
burrup.lambert
2019-05-08 06:46
Let is know how you go @ivan!
ivan
2019-05-08 14:19
To be honest guys I don't know much. But I can offer some ideas from what I've gathered so far:
- You can pay social security or even register a company in Buenos Aires (it's quite easy now) so Argentina can't complain about you not paying taxes while trying to get a citizenship. The social security tax is obligatory in Ushuaia as well. It starts at $50/month. You could also register to something called Monotributo which is quite cheap as well. But it depends on your business structure. I think registering a business in Buenos Aires for managing some operations + residing in Ushuaia and receiving distributions from a foreign company is a safe bet between paying taxes (so they can't say a word about you being granted a citizenship) and paying only a few taxes. But then again, I haven't done this nor have heard of anyone doing this, it's just especulations. All I know is the place is tax free from income tax, sales tax and import/export fees.
- Many argentinians register their domicile there and then live in Buenos Aires. I keep hearing of people doing that since the 70s (when the tax exemption was approved to increase the population). But those I hear from are quite rich and can bribe auditors without a problem if they need to. Auditors here are easy to bribe if you have enough money. These people of course go too far, they bank in Buenos Aires, they have their families here, the live here and their children go to school here. So it's pretty obvious. In your case I think you just need to move around, renting Airbnbs. I don't know the citizenship requirements but you can problably travel around as well (Chile is very near).
- Ushuaia would require that you fill tax returns, though. You are exempt but you still have to fill them.
vinodgn0088
2019-05-08 14:46
@ivan, Looks like you need solid connections to keep the setup active ( especially how to bribe to the right person on right time).
ivan
2019-05-08 14:48
Don't think so.
ivan
2019-05-08 14:49
If you have a credible domicle in Ushuaia and just rent Airbnbs in Buenos Aires and I don't see why you would get audited. You're just traveling around with a base of operation in Buenos Aires.
ivan
2019-05-08 14:49
That said, I'd have to check on the actual facts, not just theory and the law.
ivan
2019-05-08 14:50
I'll probably visit a tax attorney asking about this in the near future. Can ask some questions related to immigrants as well.
rafajluz
2019-05-09 01:21
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burrup.lambert
2019-05-09 02:55
An Argentina lawyer that I have spoken to advised me that when you apply for citizenship people come to your house (registered address) to verify that you live there, ask your neighbours about you etc, not sure if it's true or not. He advised for the first 2 years of temporary residence it would be possible to move around Argentina but in the third year when you apply for citizenship you should stay in BA.
vallancepm
2019-05-09 02:58
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dm_rosin
2019-05-09 10:23
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ivan
2019-05-09 13:13
It might be true, don't really know. But you you can stay in BA or wherever you've chosen to live. Ushuaia tax policy is due to trying to improve migration.
fortunaecaerus
2019-05-09 15:45
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carrabeanga
2019-05-10 05:38
Would a Vanuatu Self Funded Visa (1 year temporary residency) and a 12 month lease in Vanuatu be enough to appease the ATO and relieve myself of Australian tax residency?
carrabeanga
2019-05-10 05:38
Assuming I pass the other tests (domicile, 183 day, sold property, severed ties, etc)
carrabeanga
2019-05-10 05:38
Wondering whether they would accept it since Vanuatu has no tax office
burrup.lambert
2019-05-10 06:03
Obviously not tax advice, but I would think so as long as you pass the 4 tests. I almost took a job in Vanuatu for a company run by an Australian guy, the job was advertised as "tax free".
carrabeanga
2019-05-10 06:58
Hmm I'm leaning towards them not recognizing the residency as a real "tax residency" and causing problems, but as you say its probably something I need qualified advice on.
carrabeanga
2019-05-10 06:58
Any other opinions or experiences?
carrabeanga
2019-05-15 07:56
Advice I received was that the ATO would most likely rule against this, apparently having citizenship and family in Australia would outweigh any efforts other than purchasing property in Vanuatu, which I'm not considering.
carrabeanga
2019-05-15 07:56
Another interesting point raised was the ATO 183 day test is mainly applied to foreign nationals, and has limited impact for Australian citizens applications.
carrabeanga
2019-05-15 07:56
The suggestion is to become tax resident in another country with double tax treaty arrangements first. So back to my original NZ plan.
johncitizen
2019-05-15 08:05
I have some information I can put into the Aussie channel
johncitizen
2019-05-15 08:05
I was overseas for many years.
carrabeanga
2019-05-15 08:06
Sure, thanks jc
johncitizen
2019-05-15 08:07
My coworkers and myself pooled advice from a few different advisors, I?ll find the emails and court case examples.
carrabeanga
2019-05-15 08:08
I'd appreciate that, cheers
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2019-05-15 10:09
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luciedavioud_registro
2019-06-09 03:41
Hi,
I would like to know if one of you was able to get a tax ID with this option:
� Deposit a small sum (10000 THB+) of money in a term deposit with a Thai bank and then apply for a tax ID via **form L.P. 10.4 instead (withholding tax).�
And without a one-year lease agreement.
Thank you!
simon
2019-06-09 21:02
@luciedavioud_registro Hi Lucie, I know of several people who have but do note that getting a Thai tax ID will not make you a Thai tax resident. Unless you have significant ties to the country, you will need to spend 183+ days to qualify as a tax resident.
luciedavioud_registro
2019-06-09 23:25
@simon Hi, Simon. Thank you. Yes, I know that. I actually spend more than 6 months per year in Thailand and will rent an apartment for one year when I come back in August. I need to prove to Spain (where I've been living for years) that I live and pay taxes somewhere else. So I really want to get the tax ID. I tried to get it by myself, but because I only get dividends (not a salary) from my HK company, the official didn't understand why I wanted it? I would love some feedback or advice about how to get it. Thanks!
simon
2019-06-10 17:40
@luciedavioud_registro You can use the withholding tax technique outlined in my Thailand guide to get a tax ID. Alternatively, you can also qualify by spending most of the year in-country (you will need to show all your entry and exit stamps when applying). As a tax resident, you will need to file a yearly tax return. Depending on how your HK company is run, you may also need to register it in Thailand and pay corporation tax there. To prove to Spain that you are a Thai tax resident, you can apply for a certificate of residence: https://www.rd.go.th/publish/21978.0.html
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2019-06-11 18:58
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koshis
2019-06-19 21:16
Hi guys, I'm trying to find the name of the service that provides virtual address and mail forwarding globally. I'm having trouble logging on to the site tonight, so if anyone can help would be appreciated
koshis
2019-06-19 21:43
That's the one! Thanks @simon
ivan
2019-06-22 02:00
Does anyone here have experience with the laws related to hiring oversea employees in Australia? I might have the chance to partner up with an australian resident and was wondering if it would be possible to migrate there somehow.
ivan
2019-06-22 02:10
I've the information regarding becoming a sponsor in the gov sites but I wonder if being a partner of that business would immediately disqualify the whole thing.
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2019-06-22 18:35
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koshis
2019-06-29 21:37
Not necessarily. It was previously possible for people to sponsor themselves under the 457 visa through companies they 100% owned. But the rules have changed a lot since then so it may not be now, but perhaps non controlling interest may be fine.
If you want very good advice, speak to Fragomen they are probably the best advisors in the sector.
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2019-07-01 12:05
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2019-07-02 20:41
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2019-07-03 09:26
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smuft84
2019-07-06 17:34
have a number of similar questions, mostly to due with optimizing my thai tax setup -- i just became a tax resident here by staying more than 50% of the year but have not yet applied for thai tax ID, I have a seychelles ltd I do my business behind, i use the thai bitcoin exchange for expenses
is there a lawyer or law firm you'd recommend to sit down with? or would you consider yourself knowledgeable enough to consult on these matters? If I had 1 or 2 questions I'd just ask but I'm looking for a pretty hollistic approach
simon
2019-07-06 21:09
I would not consider myself the best person to talk to if what you are looking for is information about Thai tax law. A local tax lawyer should be able to help with that. If you have any questions about international taxation, feel free to send them my way.
smuft84
2019-07-07 10:54
thanks Simon, appreciate the honesty
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2019-07-07 21:36
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eov
2019-07-15 21:49
hello all. Just a quick check-in. I've been looking for the easiest way to a tax free or minimal residence as i should have a windfall coming in a few years. The plan would be to be residing there when receiving this. So far, I've found the panama friendly nations permanent residency program the most likely. Yes it's a few visits and some cost, but it's permanent and you can maintain the residency with just entering panama for 1 week every two years... seems like the best residency deal out there...but wanted to check. Any other thoughts?
burrup.lambert
2019-07-16 02:54
@eov, don't get residency and tax residency confused. To get tax residency in Panama under the FNV you need to live there for *6 months of the year*. Going there for 1 week (pretty sure it was 1 day) every 2 years will only maintain your permanent residency.
benjamin
2019-07-16 05:18
@burrup.lambert Is that the only test for tax residency in Panama? What if you purchase a house or get a lease and establish the most ties there?
burrup.lambert
2019-07-16 05:59
@benjamin I'm not sure. You'd have to look into it. All I know is that if you are under a FNV you need to spend 6 months there each year to be a tax resident. It's an attractive permanent residency option with minimum time needed on the ground but not so much for tax unless you intend on living there.
benjamin
2019-07-16 06:04
@burrup.lambert That's interesting. I have a friend (Australian) in that situation who I will mention this to. He only spends a week or two there on FNV but it is his tax home and 'home'.
burrup.lambert
2019-07-16 06:20
I'd definitely be double checking!
vinodgn0088
2019-07-16 08:01
@benjamin Ask your friend if he got tax residency certificate from Panama tax office. If he got a permanent home, car, bank account etc in Panama there is a chance that he can get a tax residency certificate based on "center of vital interests"
eov
2019-07-16 17:18
well this is very interesting and not sure if most people knew. Thank you Krapen. I'd think it would still be a pathway to a tax free nomad life. If you could establish (even with 6 months) tax residency in Panama in year one, then you've cut tax ties to your original home country. Thereafter, if you travel every three months all over the world, no one has the right to declare you a resident of their country for tax purposes. Any holes in that theory?
burrup.lambert
2019-07-17 03:09
I'm definitely no expert but from what I've heard from people who are vastly more experienced in the matter is that in today's modern age you pretty much have to pay tax *somewhere* otherwise you will have a very hard time.
burrup.lambert
2019-07-17 03:11
It is much better to establish yourself in a zero tax or low tax country then trying to avoid paying it altogether.
jerrycjchang
2019-07-17 03:13
According to my accountant that is definitely not true. You must be a tax resident somewhere and amount of time spent in country is not the only factor to determine it. Where your family is, whether you own property and where your professional ties mostly are can all be used. Worst case is it just defaults to your nationality.
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2019-07-17 06:22
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ivan
2019-07-17 12:41
But in his scenario as a Panama resident chances are he would owe taxes there? That said, this would be decided in a court, right? Assuming you have enough money for governments to care.
jerrycjchang
2019-07-18 02:08
I believe so, if the tax residency is rock solid, but yeah ultimately if there's a dispute it'd go to court
fortunespeculator
2019-07-19 07:15
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pierre.berthalon
2019-07-19 21:35
According to Simons's guide on Panama, you automatically become a tax resident when you obtain the permanent resident status.
burrup.lambert
2019-07-20 03:40
DYOR I guess. A quick Google result for "Panama Resolution No. 201-0354 of 13 January 2016" says that you have to be there for 183 days a year.
If the later is true maybe I'll apply for a FNV after all :sweat_smile:.
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2019-07-21 10:41
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2019-07-24 14:09
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2019-07-25 06:46
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2019-07-25 06:52
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2019-07-28 01:23
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2019-07-30 08:03
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ivan
2019-07-31 01:40
Guys has anyone had any experience with Portugal's D7 visa?
ivan
2019-07-31 01:40
Sounds like it's too easy to be true.
asarun72
2019-07-31 01:43
Alternative to non Eu folks to live in PT
vinodgn0088
2019-07-31 02:06
@ivan, That visa don't have provision for self-employment (working online is also self-employment). Better option is D2 Visa
asarun72
2019-07-31 02:31
@vinodgn0088 I dont think so . supports independent living and also getting paid remotely. https://www.vfsglobal.com/Portugal/USA/pdf/Portugal-Residency-Checklist-for-Long-Stay.pdf
vinodgn0088
2019-07-31 10:31
@asarun72, If you believe so its up-to you. Why someone living in a territorial tax country (like Hong Kong, Malaysia) need to pay taxes if all they do is work for some US/UK clients or run an Amazon FBA? What there is so called "place of effective management tests for companies"? If you are selected for an audit (by tip off) for violating immigration rules or tax evasion you can say your points to them and see how it goes. Some people actually do live in PT on D7 visa while working online. To be frank its illegal to work like that and not recommend to do if someone plan to stay long term in a country or intend to obtain citizenship of that country.
asarun72
2019-07-31 17:46
Once you get D7 you can apply for NHR status so it?s legally tax free income on dividends.
ivan
2019-07-31 21:10
That's interesting @asarun72.
sherice
2019-08-01 07:28
Hi everyone, was curious if anyone had any experience with obtaining residency in Turkey? I didn't see anything on Simon's site and I'm currently here considering it. The process seems ridiculously easy compared to other places. I've been wanting to close my corp in Canada and start somewhere new - had a meeting with some folks in HK years ago and almost went through with it until I found out my Canadian residency status would still require me to pay taxes regardless. After 7 years of full time travel you can imagine I'm more than ready to make the break but haven't felt committed enough to anywhere else to make an investment, buy property or, stay put like many places require. Turkey seems to tick a lot of boxes for us so I'm curious why I've never seen it mentioned or what others here have heard. Thanks!
mrchristiaanpieterse
2019-08-02 03:12
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me1892
2019-08-02 23:41
Don't know if anyone here was also looking into the Malaysian MM2H but the approval system seems to be getting back on track. I received my approval this week after about 8 months of waiting
mikeseo
2019-08-03 00:11
where are you going to live in Malaysia?
vinodgn0088
2019-08-03 02:59
@me1892, congrats on getting MM2H. Could you tell me what documents you provided to show the 10K MYR offshore income?
me1892
2019-08-03 03:26
@mikeseo most likely KL but considering Penang
me1892
2019-08-03 03:27
@vinodgn0088 it?s all salary so my last few payslips + a letter from my employer confirming my position and income
michael
2019-08-05 00:13
Well done on your MM2H... Yeah, it's more open now.
michael
2019-08-05 00:13
Govt issues more 'settled'
michael
2019-08-05 00:14
@me1892 Both nice cities... :smiley:
michael
2019-08-05 00:14
@ledrewy is in KL i think?
ledrewy
2019-08-05 00:16
:wave:
me1892
2019-08-05 01:46
How long have you been over there for @ledrewy?
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2019-08-05 03:35
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carrabeanga
2019-08-11 11:32
Can someone with Philippines SSRV move to the country for 180 days or longer and get a tax certificate as NRAETB?
Seems like a contradiction in terms, but I thought I read somewhere you would still be considered non resident alien even with the SSRV.
imatfaal
2019-08-11 15:19
I have recently moved to a country in the Middle East. I intend to spend less than 180 days per year here as I travel a lot for work. However, I wish to conduct some remote consultancy work while in-country using my UK LLP. I also wish to obey the laws here!
My understanding is that non-resident employees working in-country for a period not exceeding six months per fiscal year pay a flat rate of 20% of their gross locally-sourced income...so I have 2 x questions:
1. Would my home (EU country) consider me resident in the Middle East, even if I don't have a residence permit here?
2. Am I going to be tax resident in the Middle East now, if I am paying this 20% tax only on locally-sourced income?
Thanks!
hello888
2019-08-12 22:31
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carrabeanga
2019-08-19 01:02
Anyone have their Philippines Special Retirement Resident Visa here?
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alexjohnfarris
2019-08-27 15:29
As a UK citizen I'm considering moving to the Isle of Man for tax purposes. Wondering if anyone has done the same and if there are any downsides I can't see. I already have bahamas residency but bahamas banking sucks and Isle of Man allows for Revolut etc and all the modern banking options.
Isle of man has 0% corporation tax, 0% capital gains, no stamp duty on property and 10%/20% on personal income with a �125,000/year cap. I would imagine this means you can store profits in a corporate entity and eventually dividend them out in a single year and hit the tax cap on personal income.
mikeseo
2019-08-27 17:06
how long would you have to spend there to be considered a tax resident and how long can you visit the UK for?
alexjohnfarris
2019-08-27 17:23
Based on physical presence the following individuals will be considered tax resident in the Isle of Man
where:-
? they reside in the Isle of Man for a period equal to six months (183 days) or more in a tax year,
or
? their visits to the Isle of Man over a period of four or more consecutive tax years exceeds an
average of three months (90 days) in each tax year (the individual will be treated a resident
from the start of year 4 and subsequent years), and
? where there is an intention for visits to average more than 90 days per year at the outset, the
individual will be treated as resident from the first year
alexjohnfarris
2019-08-27 17:24
... however there is no passport control between isle of man and UK. So I don't see what's to stop someone buying a small flat there, get utility & council bills then live most of the time in london/UK.
alexjohnfarris
2019-08-27 17:28
internationalbits
2019-08-27 22:14
i'm going to answer you as i'm a resident of the UK, but i'm not a uk citizen.
if you have a home in the UK or rent it for at least 3 months and spend 31 days (actually 31 midnights) you're automatically a UK resident
internationalbits
2019-08-27 22:15
depends on many other factors. you would be a tax "leaver" and it depends on what ties you have in the UK.
i like IOM taxation, i also like the UK taxation, being a non UK citizen myself i can use the remittance basis and effectively pay 0% tax.
have you considered residency in the UAE? that's what most UK citizens do
alexjohnfarris
2019-08-27 22:49
I?m kinda fond of the british climate oddly enough - so my plan was to buy a house and actually live in IOM. I have a wife who wants a kid... don?t really need city life anymore. All my work is online.
internationalbits
2019-08-27 22:50
IOM, Guernsey, Jersey, Cyprus, Malta, Ireland are a few of the options. depends on lifestyle, your biz, etc etc the usual
redareda9
2019-08-28 09:04
Anyone ever heard of that before?
simon
2019-08-28 09:23
@redareda9 The Scandinavian countries are especially famous for that, and Spain. As far as I know, France only applies such restrictions when moving to St Barth�lemy and Monaco.
ivo
2019-08-28 09:24
@redareda9 This is correct. It?s called extended restricted tax liability
jemmasta
2019-08-28 09:38
Yep, as a Finnish person we have 3 years period even if moved abroad.
marziovit
2019-08-28 10:38
Being a tax resident even if no time at all is spent in the country is awesome
tiagomdreganha
2019-08-28 11:13
But they don't give you regular residency, so you have very little substance if you need to prove it to former country of residency/citizenship
tiagomdreganha
2019-08-28 11:14
Yep, 4 years in Portugal if moving residency to a country in their blacklist
marziovit
2019-08-28 11:39
Thanks, i missed that
bigworld
2019-08-28 12:22
In the case of Spain that only apply to tax havens. Devil is in the details, because some interesting jurisdictions are not legally tax havens by virtue of sharing a tax treaty. Think of Malta, Panama, and others.
roman
2019-08-28 21:00
I am not seeing the advantage ... ? There is 5% tax + 2x forex conversions, probably ~ another 5%, so effectively it is ~ 10% tax, plus the USD$40 social security fee, plus the $500 annual renewal and still having basically a limbo status as this is not fully legit (have to pretend to work for NGO).
simon
2019-08-29 02:59
@roman There is no need to actually apply for residency, just registering as a PE is enough.
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bierlingm
2019-09-29 15:36
Hi all, ive been looking for residency in territorial tax countries to avoid high income taxes that are being charged here in the netherlands. Ive looked at Gibraltar as it seems one of the best options near home and Spain, which i visit a lot. Anyone has experience with Gibraltar ?
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omocha_10
2019-10-10 18:46
Hi all.
Which countries don?t tax foreign money made from buying/selling securities mid/long term?
That as a nomad don?t require you to spend long time there(I have a Spanish second passport), and don?t have $$$ requirements like the ones in Monaco/Andorra?
Or which EU countries are the best for this kind of gains?
Thanks
internationalbits
2019-10-10 20:09
In theory, all non-dom would work as long as the money is not remitted in any forms in the country. For example Ireland, Malta or the UK.
Malta is interesting, as it has no time requirements you just need to have an apartment all year, either renting or owning one. But it comes with the catch of having to pay 5k flat fee per year.
internationalbits
2019-10-10 20:10
Italy very similar, but for a hefty 100k flat fee.
Cyprus a bit different but also possible.
omocha_10
2019-10-10 20:35
In Malta the 5k flat fee is for all foreign income/gains/profits? That?s it?
I read about a 35k treshold.
And about the home, is it possible to have a house, have one room for me and the others rent them out?
Or are they flexible and can buy or rent a cabin and pay 5000/100?
Malta better than Italy.
Ireland sounds good, doest it requires a minimum stay per year.
Thanks a lot for the info @infy
internationalbits
2019-10-10 20:59
Ireland is 6 months
internationalbits
2019-10-10 21:02
Malta is not for me but yes in theory you can rent a room. Keep in mind you will have to live there for a while before you'll be able to get your residency
internationalbits
2019-10-10 21:03
My humble suggestion is travel there before you commit, dont plan too much without having traveled there first
internationalbits
2019-10-10 21:04
there are some other solutions too in Europe
lucas0911
2019-10-17 15:57
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p.rawson100
2019-10-18 15:59
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edgr
2019-10-20 11:03
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me1892
2019-10-21 06:01
Well, I've finalized my MM2H visa. Took about 10 months end-to-end
burrup.lambert
2019-10-21 06:41
Congrats @me1892!
danz
2019-10-21 07:31
Congrats, living in KL?
me1892
2019-10-21 10:00
@danz yeah, currently based in KLCC
internationalbits
2019-10-21 10:32
Congrats!
klaus
2019-10-23 08:30
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alexwice
2019-10-23 16:19
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steve
2019-10-25 07:25
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johngortner
2019-10-27 11:16
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prykhodko.av
2019-10-28 09:29
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prykhodko.av
2019-10-31 15:34
I looked at this option but found that Gibraltar residence is really expensive to set-up
prykhodko.av
2019-10-31 15:42
I think it could be a comparably cheap option to rent an apartment (or even a room) in an old soviet apartment block building to get the residence address, so you can prove to the former country of residence bills, etc
bigworld
2019-10-31 15:54
I don't think that's the best course of action. Read the double-tax avoidance treaty with your country of residence. Chances are that the old treaty with the USSR is the treaty in place.
Ukraine say you are tax resident there under their conditions. And the treaty may say that tax residency will be agreed among the two countries.
prykhodko.av
2019-10-31 22:13
If you need a tax residency next day, without staying in the new country of residence for months.....it might be a good option.
prykhodko.av
2019-10-31 23:14
Ukraine has number of double tax treaties: https://www.contactukraine.com/taxation/ukraine-double-tax-treaties that?s the one with the UK: https://www.gov.uk/government/publications/ukraine-tax-treaties I think it is also worth to say that UK (or other country) might just consider a person or a company as UK tax resident if they want based on criteria UK defines and ignore the treaty or say it is not relevant in that case. I?d say closing old tax residency properly is more important vs. Gaining new residency in my view
bartol.k
2019-11-06 14:02
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nemanja.mirkovicru87
2019-11-06 15:38
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bartol.k
2019-11-07 12:49
Hi, I?m looking for a solution to my residency puzzle. I?m currently a resident in the Netherlands and I?m planning to travel permanently. I want to drop my Dutch residency, because it comes with mandatory health insurance (which I wouldn?t use) and relatively high costs for a place where I would spend very little time. I want to use N26 as my primary business and private bank, but they have a requirement of residency in one of the following countries in Europe: https://support.n26.com/en-eu/getting-started/account/can-i-open-an-n26-account-in-my-country Where would it be cheapest to obtain proof of residency and would that be possible without spending extended time in the country? Alternatively, are there any user friendly banks like N26 that do not have specific residency requirements? Ideally I wouldn?t be a resident anywhere.
omocha_10
2019-11-07 13:06
Isn?t it possible to keep your N26 account while not residing in NL?
guilherme.sa
2019-11-07 14:53
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dwilliambf
2019-11-07 15:03
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jerrycjchang
2019-11-08 02:23
I had it sent to a friend?s EU address. That?s all the ?proof? they wanted for residency
mpcbruhn_freedomsurfe
2019-11-08 04:37
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bartol.k
2019-11-08 07:42
So I got on the chat with them before asking this, and they said that they will require proof of residency after a few months and if you are not able to provide, they will close down your account
bartol.k
2019-11-08 07:42
I think there was a period of 18 months somewhere in there, so maybe it?s just something to worry about when they actually ask
mpcbruhn_freedomsurfe
2019-11-08 10:15
so why dont you open the account now, send them all the papers they need from the netherlands and then move away
prashantpawar
2019-11-08 14:33
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mikael.sandvill
2019-11-11 11:13
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gun
2019-11-11 11:15
Alternatives:
- Monzo (Use Friend?s UK address)
- Revolut
- Transferwise Borderless
gun
2019-11-11 11:16
@jerrycjchang I believe you still need some kind of European ?proof of residency? such as a Passport etc. I was unable to get one when I tried one year ago on Australian passport
994kaloyan
2019-11-11 15:27
Hey guys. Anyone from the UK here who's left as a tax resident? I have a friend who's a UK citizen but hasn't been there in 4-5 months. He doesn't plan on going back and is considering dropping the tax residency for obvious reasons. Any guidelines on what he would need to do in order to no longer pay taxes in the UK ?
jerrycjchang
2019-11-11 18:16
@gun I?m a NZ citizen. Got one no problem and did the phone verification and everything
simon
2019-11-11 21:44
@994kaloyan The UK uses a ?test? to determine tax residency, as long as your friend passes the test and documents everything well he?ll be fine.
gun
2019-11-12 02:02
@jerrycjchang Interesting. Thanks. You like it?
Benefits over Monzo / Revolut / Transferwise?
994kaloyan
2019-11-12 09:08
Thanks @simon!
silvafelipe37
2019-11-12 14:40
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rogerio.cadan
2019-11-12 14:58
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jerrycjchang
2019-11-13 14:59
I haven?t used the other ones so no way to compare, but it?s really slick yeah and no problem so far
kristinj
2019-11-14 11:47
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bartol.k
2019-11-18 09:20
Ok, so the plan I want to execute now is the following: E-residency in Estonia, with a business in Estonia AND actual residency in Estonia. I?ll need an appartment (~70 EUR / month) with total expenses for residency at around 300, which includes business admin fees, rent for the appartment (permanent address), basic income tax. I also get health insurance (and pension!?) for that as well. I?m kinda falling in love with Estonia, not just because of the lovely castles.
On the business side my tax on profit is 20%, but is only taxed one time at the company level, so no income tax after that. It is also only taxed when paying out dividends, which means I can do my project in Mauritania tax free (as simple business expenses). The bank can then be Revolut, which seems like a really good option and fully supports Estonian inhabitants and companies without any hassles. Am I missing something? Thanks for all the hints so far
ray5turtle
2019-11-20 22:47
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moran
2019-11-22 01:03
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norman.pend
2019-11-22 08:42
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nemanja.mirkovicru87
2019-11-23 09:21
Hey guys, if you have Portugal residency and stay there for 5 months in a year, would that count toward your 6 month EU stay within a year?
For example, after those 5 months, can you stay in another EU country for 3-4 more months or you have to exit the EU?
simon
2019-11-23 12:48
@nemanja.mirkovicru87 I assume you are referring to the 90 days in every 180 days that you can spend as a tourist in the Schengen area? If so, time spent in Portugal as a resident does not count towards the 90 days.
nemanja.mirkovicru87
2019-11-23 13:21
yeah that's what I meant :slightly_smiling_face: Cool, makes sense.
simonyepu
2019-11-26 09:14
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odock
2019-11-30 19:20
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benjamin
2019-12-02 16:32
An Entrepreneurial group and the Chiang Mai university are pushing for a 'nomad visa' for Thailand at a press conference tomorrow. They're hoping to show the government the benefits of creating this visa.
Personally, I think it's a bad idea. I also think they're dreaming, but it will be interesting to see the reaction.
https://facebook.com/events/540294540088275/?ti=as
ivan.lakatos
2019-12-02 16:35
I'd be interested to hear why it would be a bad idea in your opinion? @benjamin
benjamin
2019-12-02 16:39
It's a great idea if you want to live in Thailand and pay a high tax rate on your income. But if you're trying to achieve a minimal tax liability, living and actively working in Thailand isn't a good option.
Also, by attending this type of forum you're basically making a record that you're most likely currently working illegally in the country.
ivan.lakatos
2019-12-02 16:50
Sure, but a more regulated situation for nomads or freelancers could help a lot of us I believe, having a stable visa situation isn't something to underestimate either and can solve a lot of problems. (Especially with your home country). Taxes don't need to be high necessarily if people advocating this Visa could get a special tax status for nomads, and participating in a country's economy isn't something terrible either, but yes, it would limit people in terms of tax optimization for sure.
2020 is really ambitious in my opinion by the way. Long shot, unlikely to happen anytime soon to be fair.
benjamin
2019-12-02 17:04
Definitely agree with you on all your points.
ivan.lakatos
2019-12-02 17:05
Let's hear other people's opinion on this matter among the community @all
benjamin
2019-12-03 09:32
Slides from today. https://drive.google.com/file/d/10wQvH3zwbRQV9s8kfk9pN6dxwFvMx_LQ/view
ivan.lakatos
2019-12-03 10:04
Cheers man
d.lasallesutherland
2019-12-04 16:04
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2019-12-06 02:19
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pk
2019-12-07 00:42
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2019-12-09 02:19
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2019-12-11 13:42
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2019-12-11 13:53
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2019-12-12 13:56
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2019-12-12 20:09
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2019-12-13 13:40
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2019-12-15 07:43
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2019-12-16 13:48
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994kaloyan
2019-12-16 17:10
Hey fam. Has anyone gone the Cyprus non-domicile route ?
I've been looking into for a while now and I'd say I'm clear on how it works and what's necessary. I don't know who turn to for the documental part though.
I found this website (http://cipregistry.mof.gov.cy/en/) that lists all the registered agents in the country and there's 624 of them :smile:
I wouldn't want to go through the entire list. Any input on how it went for you and which company/attorney did you use will be greatly appreciated. Cheers!
ivo
2019-12-16 17:17
Hey @994kaloyan You can contact PMG at https://cyprus-company-service.com/. Send them my regards. They will take care of you.
994kaloyan
2019-12-17 08:04
Thanks heaps @ivo!
omocha_10
2019-12-19 13:34
Hi, I am applying for the Estonian e residency to open a company. In the paragraph describing my main motivations to get the E residency, what can I write?
?I would like to get the Estonian e residency because I would like to open an Estonian company?
Would that be acceptable?
Also when they ask for social media accounts, business you are connected to, do I have to write everything? Because both fields appear as additional information, not as required fields.
Thanks
nnmatveev
2019-12-19 16:28
Regarding motivation - I think it is totally fine. I used the same when I applied. I also pointed only my Linkedin account and it was enough in my case.
nnmatveev
2019-12-19 16:29
Actually I think that link to Linkedin account is the most relevant option for this kind of application
omocha_10
2019-12-19 16:30
Thanks
benjamin
2019-12-20 00:00
I skipped the social media accounts, it didn't cause any problems getting e-residency. If you have a decent LinkedIn it probably would be better to include it.
donatobianchi
2019-12-20 06:44
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alexmaiatricolor
2019-12-20 15:08
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rsm9qqnhleaa
2019-12-20 19:42
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bergfuerst
2019-12-21 21:08
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r.bormann
2019-12-23 10:50
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kolyakin
2019-12-23 15:55
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victorfragaceotto
2019-12-26 23:51
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bigworld
2019-12-27 07:33
There's no issue unless you have a criminal record. The Estonian police is going to check.
You can say openly that you want the e-residency to incorporate and manage a company.
diegoreymendez
2019-12-28 15:22
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michelle
2019-12-30 08:29
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brendan.keena
2019-12-30 10:18
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ndg1ndg
2019-12-30 21:36
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lauren
2020-01-01 13:47
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si006
2020-01-02 20:37
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ivan.lakatos
2020-01-05 05:15
I'm heading to Laos, Luang Prabang next week. Has anyone any experience with renting a place for a year there (not including AirBnB) ? Any trustable agencies?
marcin
2020-01-06 06:39
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openaccessconsultingl
2020-01-07 13:28
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alan.c.park
2020-01-09 06:23
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karim
2020-01-09 10:05
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2020-01-09 16:18
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b34rdays_fsurf
2020-01-10 06:31
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ryanacater
2020-01-10 14:30
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alexbadaoui1
2020-01-10 17:09
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julienduteurtre
2020-01-11 22:51
I read a lot of conflicting informations online, people confuse residency and tax residency.
*Does anyone know how to be tax resident in UAE ?* Do you need to stay 183 days like in most of the country of the world ? @simon
simon
2020-01-12 06:45
@julienduteurtre You need to visit the country at least once in every six months period to maintain the residency permit. For the tax residency, yes you need to spend 183+ days in-country every fiscal year (in addition to a tenancy agreement and a number of other documents). https://www.mof.gov.ae/en/mservices/Individual/VtAx/Pages/tax.aspx
ggustavo.augusto
2020-01-13 13:18
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emilianod76
2020-01-13 21:46
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marcelcribeiro
2020-01-14 16:25
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jairo.bittencourt
2020-01-14 18:50
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benjamin
2020-01-15 10:17
Does anyone have a source on a list of countries that to not require 183 days stay for tax residency if significant ties are maintained such as a domicile?
I think it would be a great resource for people wanting to travel most of the year but maintain a beneficial tax residency.
seb.malek
2020-01-15 12:48
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simon
2020-01-16 05:55
@benjamin Most countries take domicile into consideration when determining someone's tax residency status. You can find the country-specific rules for most countries here: https://dits.deloitte.com/#TaxGuides
benjamin
2020-01-16 11:16
Do you think its risky to live only 30-60 days in your new tax residency with domicile paid year round from the 2nd year onwards? The risk I'm talking about is your high tax citizenship country claiming you're a perpetual traveller and a tax resident of no where.
Or would paying for that domicile year round stop the risk?
johnnytang7
2020-01-16 14:11
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alessio.pieroni89
2020-01-19 07:03
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joaopom
2020-01-19 08:45
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pbk64
2020-01-21 06:20
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yakirstarosta
2020-01-22 10:18
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connaghanp
2020-01-23 08:00
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michelle
2020-01-23 11:57
btw if you live 5.5 months in one place, another 5.5 months in another, then 1 month somewhere else would you be free from paying taxes in country 1 and country 2? what I see is many nomads do a lot of travelling... but I don't see many people talking about this option
benjamin
2020-01-23 12:20
It depends on many factors. Some countries have less requirements than 180 days presence to be a tax resident. Also, if you're a citizen of a major western country they may still tax you if you haven't set up a proper tax residency somewhere else.
nikolay
2020-01-23 12:38
It is easier to gain tax residency than to actually avoid it.
nikolay
2020-01-23 12:39
So best thing when it comes to the "western" countries is indeed to prove you have a tax residency elsewhere e.g Cuprys is easy to get a tax residency as they need you to be there just for 2 months.
michelle
2020-01-23 14:39
aha
michelle
2020-01-23 14:39
thanks
kevintimmerhk
2020-01-24 08:36
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nelsonq90
2020-01-24 15:13
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ovch.george
2020-01-24 19:54
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justin187
2020-01-26 04:17
I'm in the process of moving to Malaysia and setting up a business here. Does anyone know the minimum requirements to become a tax resident of Malaysia? Is it a requirement to spend at least 183 days here? I'm either getting an entrepreneurs visa or setting up a Labuan company and would like to spend less than 183 days in Malaysia while still maintaining tax residency.
benjamin
2020-01-26 10:08
My understanding is you can spend 183 days first year. 1 day second year. Then 183 days 3rd year. 1 day 4th year then repeat.. Or 90 days every year as alternative. I might be wrong. There's a few MM2H people in here who will know
Taken from deloitte.
"? An individual is considered a tax resident if
he/she is present in Malaysia for 182 days or more in a calendar year. Alternatively, residence may be established by physical presence in Malaysia for a mere day if it can be linked to a period of residence of at least 182 consecutive days in an adjoining year."
vinodgn0088
2020-01-26 20:12
@benjamin, What you said is possible only if the person is on MM2H. For a Labuan work permit, he need to be present most of time in Malaysia, otherwise they won't renew the same. Also, Labuan lost its charm. Now there is substance requirement for all business. Initially everyone was thinking that the substance requirement applies to licensed activities only. Till the date its not clear about non-licensed businesses. To be frank they are trying to do some cleanup and only let the businesses stay who will actually generate jobs in Labuan Island itself.
simon
2020-01-27 12:48
Sorry @benjamin, I didn't see your reply. The risk is low if you have strong ties to your domicile and little to no ties to any other country (especially if they are demonstrable ties, such as a rental contract).
benjamin
2020-01-27 13:17
Awesome, thanks Simon :+1:
jase
2020-01-27 14:06
I only just discovered this: https://www.mtep.my/
Haven't read much into it yet so I'm not sure if the pros/cons vs MM2H (I'm guessing lack of investment) but it may be another opportunity for you.
fenix5
2020-01-27 14:37
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2020-01-27 16:15
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2020-01-28 08:28
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2020-01-29 03:00
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2020-01-30 13:28
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2020-01-30 18:39
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2020-01-31 18:11
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2020-02-05 13:49
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2020-02-05 16:55
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2020-02-09 15:55
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buynps.org
2020-02-10 01:43
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2020-02-11 07:12
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2020-02-13 07:27
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2020-02-13 21:30
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2020-02-19 14:06
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vartman
2020-02-20 09:35
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omocha_10
2020-02-21 12:48
Hi, did anyone got a problem installing/using the Estonian e-residency card with a Mac and fixed it?
At support they are telling me that it doesn?t work with the version of OS.
Thanks
lopez.shereen
2020-02-22 13:51
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gbroome
2020-02-23 08:26
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candelamont
2020-02-26 19:15
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d.mikocionis
2020-02-29 16:43
Hey guys. Has anyone applied for Mexican residency and moved there for tax purposes by any chance?
brendan
2020-03-01 01:18
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buynps.org
2020-03-01 13:39
@d.mikocionis how does the mexican residency help with tax?
omocha_10
2020-03-01 16:00
@marziovit At support they said it?s a problem with my computer?s system. Thanks
lu.taglialatela
2020-03-02 03:07
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buynps.org
2020-03-03 04:44
Right so just a resident there but not a tax resident of Mexico
d.mikocionis
2020-03-03 14:44
Yeah
buynps.org
2020-03-03 15:44
So you like Mexico for living then I guess @d.mikocionis?
mt
2020-03-04 10:25
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2020-03-06 08:52
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2020-03-06 09:51
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2020-03-22 03:16
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2020-03-26 13:05
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2020-03-28 08:28
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2020-04-01 02:00
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2020-04-01 14:36
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2020-04-03 13:03
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2020-04-04 11:54
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lucaboero25
2020-04-05 17:22
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redareda9
2020-04-06 13:30
For people travelling a lot, where do you usually define your residence when asked by payment processing solutions or banks?
I?m currently living in Vietnam (was in Thailand) and It?s hard to get things opened using pen-written rental contracts by Vietnamese landlords.
alex720
2020-04-06 13:39
How about using a utility bill
alex720
2020-04-06 13:39
Like your internet bill
mgonlinephone
2020-04-06 18:10
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tredezdonovan
2020-04-06 18:11
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atsingelidis
2020-04-06 19:53
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2020-04-06 20:29
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2020-04-07 02:37
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redareda9
2020-04-07 05:09
@alex720 I don?t have any bill. Everything is included usually in Vietnam. Electricity will be on landlord?s name.
Same situation in Thailand for example.
buynps.org
2020-04-07 05:38
@redareda9 where?s your last tax return?
redareda9
2020-04-07 08:56
Thailand
ggiampieri
2020-04-07 08:57
@redareda9 get a monthly mobile plan
redareda9
2020-04-07 09:00
@ggiampieri the problem isn?t really about having a legit proof (it?s always possible to print a proper contract and get my landlord to sign it) but most of the banks and payment processor (stripe or PayPal for instance) don?t accept beneficial owners living in SEA countries
ggiampieri
2020-04-07 09:01
Get revolut with a Eu address
ggiampieri
2020-04-07 09:02
Or a mobile plan in HK
paul_inkpen
2020-04-07 18:40
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2020-04-10 07:41
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2020-04-11 15:46
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2020-04-12 01:15
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2020-04-12 16:37
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brent
2020-04-12 22:07
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2020-04-24 07:08
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buynps.org
2020-04-24 07:56
Any quick wins to get additional residencies that can lead to citizenships?
simon
2020-04-25 00:07
@buynps.org There are very few residencies that can lead to citizenship without a significant time investment.
buynps.org
2020-04-25 00:11
@simon right, i suppose just the ones with citizenship by investment?
alex720
2020-04-25 00:13
How about Colombia?
simon
2020-04-25 00:13
Those, and perhaps a few in countries where there isn?t a specific day requirement or where the government is a bit lax when it comes to enforcing requirements.
simon
2020-04-25 00:14
@alex720 As far as I know, Argentina is the easiest citizenship in South America. There are many ways to qualify for residency and you only need to wait two years before applying for citizenship.
simon
2020-04-25 00:15
I?ve been told that they do not even look at your tax record when you apply for citizenship.
alex720
2020-04-25 00:20
How to get residency there? And what's the minimum stay?
simon
2020-04-25 00:29
You can get residency by showing a passive income stream worth at least 30000 ARS / month (around 450 USD at the current exchange rate). The minimum stay to be on the safe side would be 183+ days for the two years.
simon
2020-04-25 00:31
Interestingly, Argentine citizenship opens the door to easy migration to nearly all of South America (you can get a work permit in Mercosur countries and other affiliates by simply showing a clean criminal record).
alexbadaoui1
2020-04-25 00:32
love your work Simon
simon
2020-04-25 00:33
Thanks @alexbadaoui1!
tiagomdreganha
2020-04-25 09:18
SS, income tax and corporate tax as quite high in Argentina tho
alexbadaoui1
2020-04-25 17:28
hey @simon. If you had a US LLC would IB still charge the 30% foreign with-holding tax? or is that more dependent on the director being non-US
simon
2020-04-25 18:06
@alexbadaoui1 That's dependent on your own country of tax residency (and whether there is a tax treaty with the US in place). You can find the country-specific rates here: https://taxsummaries.pwc.com/united-states/corporate/withholding-taxes
d.mikocionis
2020-04-25 22:31
so does it mean that even if you move your tax residency to territorial taxation country, you'd still have to pay 30% from the income generated via IB?
simon
2020-04-25 22:32
The tax only applies to dividends received from US companies. You?ll have to pay it no matter what broker you use (even if you use a non-US broker).
d.mikocionis
2020-04-25 22:32
Gotcha. Thanks!
simon
2020-04-25 22:33
Capital gains are not subject to tax in the US, for non-residents.
d.mikocionis
2020-04-25 22:34
so only dividends
alexbadaoui1
2020-04-26 00:30
they also dont charge taxes on any option premiums you recieve
vinodgn0088
2020-04-26 03:44
@simon, There is a catch with AR naturalization. You are not allowed to leave the country for more than 2 years. If there is a specific reason, you can request a permission to leave the country for another two years (one time request only)
simon
2020-04-26 03:57
@vinodgn0088 I assume you are referring to leaving while still a resident? Because I?m pretty sure that once you have citizenship you can come and go as you please.
odufey
2020-04-26 06:36
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vinodgn0088
2020-04-26 08:33
@simon, I couldn't get an official links. But have a look at https://www.quora.com/Does-getting-a-citizenship-in-Argentina-take-more-than-4-years
vinodgn0088
2020-04-26 08:33
* Leave the Argentine territory with the intention of not returning. The intention of not returning is presumed after more than 2 years without returning to the Argentine Republic, unless before the expiration of that period, the naturalized is presented at the Argentine Consulate, expressing its purpose of maintaining Argentine citizenship. That declaration will be signed and signed in the citizenship letter by the consul, it will be valid for two more years and it can not be renewed. The absence of the Argentine territory does not imply the loss of naturalization, if it obeys to the exercise of an Argentine public function.
jonrodd
2020-04-26 14:33
Hey there, anyone familiar with Estonian residency?!
I have some questions:
- can somebody share his experience with the process of setting up Estonia as its primary residence?! Paperwork, which door should I knock first etc... (I am a French resident right now)
- I read someone claiming that Estonian residency allows you to stay resident even if you don't actually live in Estonia as long as you have an address you can prove. Anyone confirms that??
omocha_10
2020-04-26 15:31
Does anybody knows why Argentina makes it much easier than other countries to obtain citizenship? Also why it is so easy to stay there for long time having no problems for it over staying, no visa runs?
Is it because of of parr of the current mess going on there or part of policy?
I?m curious.
burrup.lambert
2020-04-26 15:50
As someone who is personally going through the process if this was true I would have heard about it.
I wouldn't rely on Quora posts for information. Speak to a *good* immigration lawyer on the ground for correct and *update to date* information.
burrup.lambert
2020-04-26 15:52
It is hit and miss with visa runs. I know someone who has been here over a year and has done 4 visa runs without issue. I know other people who tried to do 1 and had issues.
If your end goal is citizenship you should obtain actual temporary residency and do it legitimately.
simon
2020-04-26 20:32
@jonrodd Is there a specific reason why you'd want to move your personal tax residency to Estonia? The tax rates there are very high compared with many other EU countries
simon
2020-04-26 20:33
I think it's the culture. Argentina has always been one of the most immigration-friendly countries and this is reflected in its laws.
simon
2020-04-26 20:38
The same was true of many other American countries. For example, until the Immigration Act of 1917 you could literally just show up at a US point of entry and be admitted as an immigrant. The same was true for Canada. Heck some countries, like Chile, even offered free land to anyone from Europe who agreed to move and develop farms (which is why you have so many Germans / Swiss there nowadays).
simon
2020-04-26 20:40
Travel is far easier nowadays (or was pre-covid) but for immigration it's far harder than it used to be.
jonrodd
2020-04-26 20:41
Like which country?
jonrodd
2020-04-26 20:41
Not France for sure ahahah
jonrodd
2020-04-26 20:42
I lived in Argentina
jonrodd
2020-04-26 20:42
It's exactly hit or miss
jonrodd
2020-04-26 20:42
I made 2 visa runs
jonrodd
2020-04-26 20:43
The 3rd one I was kept in Uruguay
jonrodd
2020-04-26 20:44
Technically speaking, people that tell you they made 4 visa run in 2019... I would not point them as "liers" but maybe "lucky".
jonrodd
2020-04-26 20:46
I can tell you for sure that at the migration boarder they definitely ask you why are you coming and how much time you will stay and if you come back and forth they ask you why do you come back and forth precisely. For my personal case, they asked me those questions and the 3rd time the agent just told me that I should come back with a long stay Visa or come back in 180 days.
jonrodd
2020-04-26 20:51
Also, as far as I know, Cyprus is the "cheapest" country legally but they force one to stay 60 days on the island.
Estonia does tax 20% on distributed benefits, but only 14% on stocks dividends if I am correct. If I can pay that while living wherever I want, that is quite a peace of mind while contributing to one society to some extent.
I just prefer to contribute, not being alienated...
jonrodd
2020-04-26 20:52
I am not looking for 0% tax, rather freedom and peace of mind
simon
2020-04-26 21:00
With NHR, Portugal may be a better choice if you plan to spend most of your time traveling (Qualifying Portuguese income is taxed at 20% while foreign-sourced income is generally exempt).
simon
2020-04-26 21:01
Like Estonia, you can qualify by virtue of domicile
jonrodd
2020-04-26 21:03
I am Portuguese
jonrodd
2020-04-26 21:03
Never heard of that
jonrodd
2020-04-26 21:04
There is indeed a tax exemption for the first 10 years of residence
jonrodd
2020-04-26 21:04
Then generally speaking taxes are higher than even France
jonrodd
2020-04-26 21:05
Now I am not aware of foreign-sourced income specificities
jonrodd
2020-04-26 21:05
Maybe it does not apply to Portguese Nationals?
jonrodd
2020-04-26 21:06
(I am Portuguese resident in France)
jonrodd
2020-04-26 21:07
Thanks for the clue anyway, I'll double check on PWC
simon
2020-04-26 21:08
I think you can claim the exemption if you have been away for at least five years. https://www.pwc.pt/pt/fiscalidade/2017/pwc-non-habitual-tax-residents.pdf
jonrodd
2020-04-26 21:14
Yeah but as far As I understand, two conditions:
jonrodd
2020-04-26 21:15
1. Doing the job inland. >> This is what I don't want, I am a long time traveler
jonrodd
2020-04-26 21:15
2. That the foreign profit is taxed abroad. >> So no exemption
jonrodd
2020-04-26 21:17
Portugal faces quite a serious crisis of unemployment
jonrodd
2020-04-26 21:17
They are not really the country to offer tax gifts right now
jonrodd
2020-04-26 21:17
They even raised VAT above all EU averages...
jonrodd
2020-04-26 21:18
So I think I am better off with Estonia in my situation
jonrodd
2020-04-26 21:19
@simon aren't you yourself an Estonian resident??
simon
2020-04-26 21:25
I?m a Hong Kong resident but I do have a company in Estonia.
Regarding point 2, it?s fairly easy to meet the ?tax abroad? requirement if you structure your income streams well.
You do make a good point regarding Portugal?s current situation, however, and it?s true that major changes could be implemented in the coming months / years (COVID-19 is disastrous for everyone but especially for the southern European countries).
bhugbhug
2020-04-26 22:10
Anyone tried the French Polynesia route?
@simon I remember you did but I can't recall why you gave up.
The tax rates for freelancers are quite appealing
alejandro
2020-04-27 13:08
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nechita.beniamin
2020-04-27 22:18
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simon
2020-04-28 02:29
@bhugbhug It's indeed appealing from a tax perspective but is a difficult base to use due to the limited flight options / relatively limited infrastructure outside of Tahiti. I'm definitely planning to go back as soon as I can, hopefully this year
ouafouaf
2020-04-29 22:13
even a yearly cheap one (limied plan), will carry your address, leave it wirh someone, cheapest proof of expense for a worth proof residence !
ouafouaf
2020-04-29 22:24
I am (still) a (Polynesian) French resident, it would be easier for EU nat to start an imigrant residing move here, but I guess other countries will have no special treatment. FP is very small, economic Crisis; tiny Job Market so you need a very good reason to become a resident here. have a Kiwi friends who married a local, and still the Imig office were bothering him with papers for years
ouafouaf
2020-04-29 22:27
More than welcome in FP, right now the Turism market is in "survival mode" if a 2nd waves hit the island then probably many hotels will close definetaly - survival expectation for them being 3 months maxi. with no customers. Offer then will be much less diversified...
ktos.zajal.moj.login
2020-05-02 21:10
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arkdeeplove
2020-05-03 19:08
What would be the requirements in order to obtain a temporary residence permit valid for 12 months. We are EU citizens.
Is this the only internet provider availabe in Tahiti? http://www.vini.pf/
simon
2020-05-04 03:37
@arkdeeplove EU citizens do not require any residence permit to settle in FP, according to http://www.polynesie-francaise.pref.gouv.fr/Demarches-administratives/Etrangers/Demarches-en-Anglais-English/Conditions-for-the-residence-of-foreigners-in-French-Polynesia
simon
2020-05-04 03:38
You'll need a work authorization if you want to work, however, and as @ouafouaf said it's pretty difficult to get (unless it's clear you will not be competing against local applicants / businesses).
simon
2020-05-04 03:40
Ah and regarding the internet, there is Vini and Vodafone. A workaround the very high prices they charge is to use Google Fi or similar.
arkdeeplove
2020-05-05 18:31
Thanks a lot @simon.
demmbox
2020-05-06 06:38
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ouafouaf
2020-05-06 19:27
3rd local internet Provider http://ora.pf Fiber 30Mb 100 euro/month. Airlines are down, quarantine could potentialy be applied for new tourist. Unemployment for thousands expected in Tourism industry.
arkdeeplove
2020-05-06 22:35
Tanks @ouafouaf. Yes, that's sad. Let's hope borders will open by the end of the year.
Would a software company compete with local businesses?
ouafouaf
2020-05-07 00:13
As in small places Price is not the only main factor, its a small country so frrendship or family relationship is THE first deciding factor even before cost unless there is no equivalent expertise locally.
madalina.gheorghica
2020-05-07 05:59
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burrup.lambert
2020-05-08 00:35
Old but...
burrup.lambert
2020-05-08 00:35
ryan
2020-05-08 03:46
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2020-05-09 02:45
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2020-05-09 07:50
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2020-05-10 08:50
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2020-05-11 14:41
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2020-05-12 12:17
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2020-05-18 20:18
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2020-05-20 22:23
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2020-05-27 19:26
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2020-05-27 20:55
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2020-05-29 07:23
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2020-05-31 06:21
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yuli
2020-06-01 20:32
Hey everyone - I am currently looking for a residency for myself and my wife, and looking for ideas or referrals for the right person/lawyer who can give more specific advice :slightly_smiling_face: Wondering what is quick and still working right now in the existing COVID situation (In case anyone has any experience or know?)
I am Israeli and my wife is Russian. We already have an open residency application with Canada, but with the current slow-down of the goverments, this may take anywhere from 3-15 months just to process or get an answer, so we are thinking of getting a residency somewhere temporarily, even if it's just for 1 year, while we wait for our Canadian application.
Thanks ahead
danz
2020-06-01 20:41
Mexico shouldn't be to difficult. I believe immigration is still working and processing residencies now. Maybe a small delay compare to normal times.
matt134
2020-06-03 08:43
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jase
2020-06-06 17:32
Has anyone dug into the changes to Indonesia's tax regime? Does it make Bali an appealing location? https://www.thejakartapost.com/news/2019/11/29/indonesia-plans-sweeping-tax-reforms-for-expatriate-income-dividends-penalties.html
marziovit
2020-06-08 19:17
Cool!
ahsmithers
2020-06-09 09:32
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joshuacolombi
2020-06-09 11:32
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redareda9
2020-06-10 01:57
Anyone having infos about Vietnam tax residency. Due to Covid, I will cross the 183 days so will acquire their residency.
redareda9
2020-06-10 01:57
Should I worry?
albert
2020-06-10 15:01
Basic tax law says that if you are in Vietnam for > 183 days in a 12 month period (not calendar year), you are a Vietnamese resident for tax purposes. This means that are you taxed on your worldwide income.
Source: https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Tax/dttl-tax-vietnamhighlights-2019.pdf
You will need to inquire about tax exemptions. Keep in mind that tax and immigration laws are not always consistent (e.g., a country may permit visa holders to overstay but not necessary extend the same relief for tax purposes).
It looks like even the USA is offering a 60 day grace period
https://www.feigenbaumlaw.com/personal-tax-planning/income-tax-grace-period-available-to-non-us-citizens-stuck-in-the-united-states-during-covid-19/
So there may be some hope for other countries
julienduteurtre
2020-06-10 22:50
They don't have CFC nor really precise permanent establishment rules, I guess that with a proper structuration you could pay very little to no tax if you don't bring any money inside the country
redareda9
2020-06-11 12:12
Thanks @albert @julienduteurtre I?ll try to dig deeper
p_patruni
2020-06-11 17:28
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nsh
2020-06-11 22:39
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fujimoto.fjc
2020-06-16 03:12
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2020-06-18 08:19
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enimos
2020-06-21 13:04
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prashantpawar
2020-06-22 02:03
Question:
What's the easiest residency program which doesn't require any maintenance (like easiest would be to visit the country once every 5 years, most difficult would be Canadian/US permanent residency which require you to not be away for more than 183 days or the new Uruguay residency which requires 60 days a year).?
Options I know:
? MM2H - Malaysia
? Mexico Permanent Residency
simon
2020-06-22 03:30
@prashantpawar If you are referring to a residency as in a long-term visa, there?s a lot of different options that do not require any physical presence to maintain.
If you mean a tax residency, most options require 183+ days in-country per year. Some countries are easier, for example Cyprus with only 60 days. A workaround is to establish significant local ties, in which case you can qualify without having to spend more than a few days.
prashantpawar
2020-06-22 03:38
Only residency as in long term visa, no tax issue.
> there?s a lot of different options that do not require any physical presence to maintain.
Other than the ones I mentioned, can you point me to some?
simon
2020-06-22 04:39
You can renew a visa in Argentina, for example, for three years without spending more than a few days in the country (long enough to renew the visa) and then apply for permanent residency.
In Chile once you have PR you only need to visit once every two years.
In many Schengen countries you can get away with spending virtually no time in country as there are no border controls (usually). Just don?t post to social media / be too obvious about it.
In New Zealand you only need to spend 41 days every two years + keep a permanent local address to keep a resident visa active (and claim tax residency).
Plenty more
marziovit
2020-06-22 06:28
@simon how you obtained HK residency?
jerrycjchang
2020-06-22 06:36
I inadvertently discovered that as a New Zealand citizen, I can legally reside in Australia and be an Australian tax resident without being taxed on capital gains (except property) and overseas income. NZ citizens are legally allowed to live and work in Australia without permanent residency, which means you can be a perpetual ?temporary? resident under certain conditions. I thought I?d share that here
jase
2020-06-22 07:06
Does this work in reverse @jerrycjchang? An Australian moving to NZ?
jerrycjchang
2020-06-22 07:10
Australians can definitely live and work in NZ without a visa too. But I?m not sure about the tax situation, the tax laws are different in the two countries after all. You might need to ask a NZ accountant. I found out through an Australian chartered accountant in my case
jerrycjchang
2020-06-22 07:27
There is a tax exemption on foreign income for a number of years for new migrants and there?s no capital gains tax in NZ anyway
burrup.lambert
2020-06-22 15:26
To clarify for Argentina: There a several different visas you can pursue and AFAIK all of them require you to stay in the country 183 days per year. The visas are temporary for 1 year but renewable, just refile the paperwork again each year. After 2 years you can apply for citizenship (technically it's 2 years since your visa is approved NOT 2 years since the day you enter the country, but apparently immigration accepts applications using your date into the country as the start date. You can apply for permanent residency after 3 years. Yes, it takes longer to apply for permanent residency than it does for citizenship.
simon
2020-06-22 15:41
I was under the impression that the 183+ days is only required if you want to qualify for citizenship and tax residency?
prashantpawar
2020-06-23 04:19
@burrup.lambert as I mentioned I am only interested in maintainence requirements, what you're describing sounds more like 'upgrade' requirements (as in to upgrade your permanent residency to citizenship, am I correct?
alexis.alfroy
2020-06-23 09:35
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burrup.lambert
2020-06-23 14:32
Ah, sorry! I missed that part. Not sure about maintenance requirements. I am referring to a pathway to permanent residency or citizenship, both of which the step direct before is temporary residency (yes, you go from temporary residency > citizenship). As far as I know all temporary visas require 6 months in the country to maintain them.
replay
2020-06-23 18:11
Hey, I'm currently living in Paraguay, but I'm thinking about moving to somewhere with a better health care system. I'm looking for a place in the region which has relatively low taxes (doesn't have to be `0`, just reasonable), where the weather is nice and which has good private hospitals. Currently I'm thinking Chile sounds like the best candidate, there are a lot of nice towns along the coast in the area of Santiago and their health care system is supposed to be pretty good and taxes are reasonable.
Does somebody have other recommendations? f.e. how are the private hospitals in Panama, are they up to western standards?
asarun72
2020-06-23 21:05
Healthcare , lifestyle , taxes - Andorra . There?s Czech , Slovenia
asarun72
2020-06-23 21:05
If you prefer Americas - Mexico and it?s temp residency visa
replay
2020-06-23 21:10
ah nice, andorra sounds like a pretty good idea that i should research too
replay
2020-06-23 21:10
spanish speaking would be a plus for me
asarun72
2020-06-24 02:31
Yeah I was told you can get by with Spanish in Andorra. Mexico is another interesting option . Cheap and tons of expats
providedsolutions.ad
2020-06-24 07:55
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sarah
2020-06-25 01:57
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elbriella
2020-06-25 12:04
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axel.gay1997
2020-06-26 01:40
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jase
2020-06-26 18:19
Does anyone here keep residency in 2 countries at once?
jase
2020-06-26 18:21
I am researching the possibility of doing this. With residency in Andorra and Singapore combined. Andorra is where I would spend the most of my time.
jase
2020-06-26 18:22
There are no tax treaties between the 2. Is there a default rule or does it come down to a case by case basis?
simon
2020-06-26 18:28
Singapore is a territorial taxation country, you?ll only pay taxes there on your local income (regardless of your residency status). In Andorra, you?ll have to report your worldwide income (incl. Singapore-sourced income if there is no treaty) but may be able to get a tax credit for foreign tax paid (according to Deloitte: A tax credit is available to resident taxpayers for foreign direct taxes incurred that are similar to the Andorra personal income tax. The credit is limited to the lesser of the tax payable in Andorra had the income been obtained there and the actual foreign tax incurred. The tax credit can be carried forward three tax years).
simon
2020-06-26 18:32
Do note that unless you qualify for tax residency in Singapore (unlikely if you spend most of your time in Andorra), you?ll be taxed at the non-resident rate on your local income (15% +).
simon
2020-06-26 18:32
Also, do note that if you stay under the 60 days rule, your local income will be exempt (although there are a few exemptions).
jase
2020-06-26 19:00
Thanks for this Simon. I think 60 or 90 days will be most likely. Can do 59 days if that is optimal or maybe opt for more if needed.
jase
2020-06-26 19:02
Seems I need the research the Singapore end of the deal the most. Income would likely be from a Pte Ltd I'd be part owner of. Sub optimal I suppose if the company pays 17% and I'm hit with 15% on top.
simon
2020-06-26 19:04
Dividends are exempt, if paid by a resident company.
jase
2020-06-26 19:05
This would effectively be a holdings company so dividends should be fine.
jase
2020-06-26 19:05
I'm still on the fence if Singapore is worth it. We are going down this track for reputation/legitimacy and spending time in the city around the right type of people.
simon
2020-06-26 19:10
There?s plenty of high reputation countries with similar tax rates but lower costs, easier banking situation etc. I?d only recommend SG if it gives you a specific advantage (for example, if the investors you want to attract prefer SG companies, if you gain a tax treaty advantage etc).
jase
2020-06-26 19:11
Yeah this is also where my head is at. Thanks Simon, always appreciated!
buynps.org
2020-06-26 21:46
@simon does Singapore look at other things? For example, if you setup a corporation and have a PE there (an office), is income from outside of Singapore tax excempt?
simon
2020-06-26 21:48
Yes, income from work performed outside of Singapore is exempt (income from work performed in Singapore for clients located abroad is liable to tax).
asarun72
2020-06-27 01:26
@simon what if the income for work performed outside is brought inside SG bank account ?
simon
2020-06-27 02:47
@asarun72 It will be exempt if it meets the following requirements: *https://www.iras.gov.sg/irashome/Businesses/Companies/Working-out-Corporate-Income-Taxes/Companies-Receiving-Foreign-Income/Tax-Exemption-of-Foreign-Sourced-Income/*
karim
2020-06-27 18:44
Costa Rica also. I think the private health system is quite good
asarun72
2020-07-08 19:10
Digital nomad visa Barbados :flag-bb: - launch coming https://www.getadventurely.com/blog/barbados-explores-launching-a-digital-nomad-visa-to-allow-you-to-work-remotely-there-1-year
asarun72
2020-07-08 19:11
Anyone knows how?s the internet over there at the island ?
alex720
2020-07-08 19:11
Decent I was able to do everything I usually do including play video games
asarun72
2020-07-08 19:16
Cool. Unlimited plans ?
alex720
2020-07-08 19:16
Don't know,. I was there as tourist
asarun72
2020-07-08 19:17
Some countries still got limited data bandwidth you can use
simon
2020-07-08 21:15
@asarun72 That?s very interesting, thank you for sharing! Hopefully we see more countries launching similar visas!
simon
2020-07-08 21:15
Fun fact, Barbados is one of the few countries with a regressive corporation tax system. The more you earn, the less you pay
jerrycjchang
2020-07-09 00:21
Is Barbados allowing tourists from all countries entry?
frederic.scheffer
2020-07-10 03:24
Hi all
Topic: Thai tax residency.
For info, if its useful to you and to get some opinions as well:
now that I stayed more than 180 days in Thailand, I asked a lawyer to declare my remitted income (I have set it to 1500 usd per month) from January to June 2020 in the Personal Income Tax Form PND 91, and she will also get me a Tax identification number (TIN). I'll do an additional declaration from July to December 2020 in an additional Tax Form PND 91 later on, in the beginning of 2021.
The goal of this: to get a TIN + have proof of paid taxes in my new residence country (Thailand) that I can show to my citizenship country (in the E.U.) or any institution asking for it.
Note: Thai residents are taxed on foreign-sourced income only if the income is brought into Thailand in the year derived (repatriation in later years is exempt from personal income tax).
I plan to stay in Thailand from 3 to 9 months per year, officially to enjoy life and spend the other 9 to 3 months of the year working on my business (out of Thailand, mostly in Vietnam or China where my suppliers are)
I hope it can give some good ideas to some of you and I am also interested in any advices/opinions from people who went this route.
asarun72
2020-07-10 04:16
Anyone know of Spain non lucrative visa ? Also called digital nomad visa . Requirement is euro 30k year income arising outside :es:
buynps.org
2020-07-10 06:03
Hi @frederic.scheffer , thanks for this. What kind of visa were you able to stay on?
frederic.scheffer
2020-07-10 06:22
@buynps.org just tourist for now
buynps.org
2020-07-10 16:53
@frederic.scheffer i see - so you don?t need the work visa to become a tax resident?
buynps.org
2020-07-10 16:53
i looked into this a while back, there was some companies like Igloo offering work visa
frederic.scheffer
2020-07-11 02:07
You need >180 days spent in Thailand in 1 year
bhugbhug
2020-07-11 18:33
It's not a problem to declare those incomes in Thailand if you weren't supposed to work under a tourist visa?
frederic.scheffer
2020-07-12 04:46
I declare them as remitted income, not working, just enjoying living here and then working for a few months in China.
erik.stromberg
2020-07-16 21:22
does anyone have any experience with the uae freelance visa as a cheaper alternative to opening a free zone company?
erik.stromberg
2020-07-16 21:24
i would just ignore the freelance aspect and keep using my existing us llc
asarun72
2020-07-16 21:45
You could also buy you an existing sponsorship from someone who owns a company for two years so you can just live there afaik
erik.stromberg
2020-07-16 21:48
interesting, i'll have too look into that
asarun72
2020-07-16 23:41
You can?t be doing any local business or raising local invoices. As long as you do everything on your US llc you will be good . It allows you to live anywhere but just don?t do local business unless you register a local company there. They are very strict from what I was told
albert
2020-07-17 04:16
Last I read, it is only the Cayman in the Caribbean that is restricting tourists. Barbados should be open and its an awesome island (Rhianna?s hometown)
albert
2020-07-17 04:16
Looks like Estonia has a similar program, but it does not mention if you get a tax exemption.
jerrycjchang
2020-07-17 06:29
Isn?t that a little pandemic risk in itself :joy:
marziovit
2020-07-17 06:31
@asarun72 isn't sponsorship only permitted for family members?
tiagomdreganha
2020-07-17 07:58
employees too afaik
tiagomdreganha
2020-07-17 07:59
I'd actually be interested in this, getting a "job" instead of my own company in UAE would take away any questions from my citizenship/origin country vs opening a "no-tax" company there.
buynps.org
2020-07-17 13:57
@erik.stromberg @asarun72 do you think AUE is a good combo along with a US LLC?
asarun72
2020-07-17 16:08
Yes not just family
asarun72
2020-07-17 16:09
What?s AUE? US llc is just fine to do your business .
buynps.org
2020-07-17 16:26
@asarun72 UAE***
asarun72
2020-07-17 16:27
You pay near 0 tax if you live and establish residency in uae .
asarun72
2020-07-17 16:27
If you can bear the heat and live there
buynps.org
2020-07-17 16:39
@asarun72 yeah. how does that compare to other options? thailand? panama?
asarun72
2020-07-17 16:40
You pay tax right when you live in Thailand ?
asarun72
2020-07-17 16:40
Panama I don?t know if you can live long term and call it home
simon
2020-07-17 16:58
Thailand is no tax haven, you?ll be taxed on your worldwide income if you live / work there.
simon
2020-07-17 16:59
The UAE is indeed a great option from a tax perspective, if you can bear to spend 183+ days there every year.
buynps.org
2020-07-17 17:25
@simon i heard you?re only taxed if you bring it in the same year?
buynps.org
2020-07-17 17:25
if you wait 1 year and bring it in it?s tax-free?
buynps.org
2020-07-17 17:26
i thought only if you bring that money in in the same year??
buynps.org
2020-07-17 17:27
hmm, yeah why?s that?
buynps.org
2020-07-17 17:27
yeah, dang
buynps.org
2020-07-17 17:27
any better options?
simon
2020-07-17 17:31
That?s only for foreign-sourced income. If you work in Thailand, most of your income will be Thai-sourced and liable to tax.
simon
2020-07-17 17:32
HK, Malaysia, Japan and Portugal are great options.
rtiagm
2020-07-17 17:35
Japan? Can you expand on that?
buynps.org
2020-07-17 18:15
Right, good point. From what I understand, Thailand doesn?t have CFC laws, so you could ?manage? an US LLC as an example and it would be tax free?
buynps.org
2020-07-17 18:15
yeah, interesting - japan?
marziovit
2020-07-17 18:29
IMHO Panama with friendly nation VISA or Philippines with SRRV smile are better options. Panama only requires a 1 day stay every 2 years to continue to be tax resident there.
simon
2020-07-17 18:50
CFC rules usually only target holding companies. Active companies are subject to place of management rules and pretty much every country in the world has those. https://taxsummaries.pwc.com/thailand/corporate/corporate-residence
simon
2020-07-17 18:53
Japan taxes non-permanent residents on a territorial basis. As an added bonus, you can maintain tax residency without spending time in the country, provided that you have a home there (rented or owned).
simon
2020-07-17 18:58
@marziovit Panama is a low reputation jurisdiction, however, and that can be undesirable in some circumstances. The SRRV is only available to those over the age of 35 if I?m not mistaken.
marziovit
2020-07-17 19:01
@simon yes you have to be at least 35 to use the SRRV Smile option. I agree on Panama as being perceived as low reputation. The Japan option is surprising! How would you become non-permanent resident there? You simply rent a house indefinitely?
simon
2020-07-17 20:09
@marziovit According to the Japanese government, yes you?d qualify based on owning a house or renting one long-term. There?s no mention of days spent in the country or visa requirements.
https://www.nta.go.jp/english/taxes/individual/pdf/a-4.pdf
marziovit
2020-07-17 20:27
Here's the catch.
marziovit
2020-07-17 20:28
I guess after 5 years you will be considered a permanent resident
marziovit
2020-07-17 20:36
What about HK? How do you become tax resident there?
bhugbhug
2020-07-17 20:36
Pretty sure renting a home for 5 years wouldn't be enough to grant you a permanent resident status in Japan.
simon
2020-07-17 20:37
Permanent for tax purposes, not for immigration purposes.
simon
2020-07-17 20:38
It triggers worldwide taxation (as opposed to territorial taxation if non-permanent)
marziovit
2020-07-17 20:44
MM2H looks like is becoming more difficult as 90% of applications were rejected: https://www.thestar.com.my/news/nation/2020/07/02/more-than-90-of-mm2h-applications-from-sep-nov-2019-rejected-claims-agents-association
buynps.org
2020-07-17 21:12
Interesting - so each country?s CFC laws are unique right?
buynps.org
2020-07-17 21:12
> https://taxsummaries.pwc.com/panama/corporate/corporate-residence
Would that structure work for Panamanian tax resident and US LLC?
> A company is considered as a tax resident when it has been incorporated in Panama and if Panama is regarded as the place where the central management is located. Entities incorporated abroad may also be registered with the tax administration in order to avoid WHT.
buynps.org
2020-07-17 21:12
Super interesting
erik.stromberg
2020-07-18 00:00
Japan was a good surprise! Unfortunately I assume freelance work for a foreign client would still not be considered foreign income.
bigworld
2020-07-18 08:17
@buynps.org have you checked if there is a DTA agreement among Panama and the US? I think there is none. In absence of a DTA agreement you may be subject to tax withholding in origin (US), but it may be worth checking if that is actually the case.
buynps.org
2020-07-18 08:20
@bigworld from what i understand that?s only if it?s US sourced income
bigworld
2020-07-18 08:26
@buynps.org that's pretty interesting. A Panamanian Private Interest foundation (holding) and a US LLC disregarded entity (OpCo) would be awesome for investing there.
marziovit
2020-07-18 11:25
@bigworld if the panamian foundation is the shareholder of the LLC will they open a bank account in USA for the LLC since there's no UBO in the foundation?
bigworld
2020-07-18 11:49
@marziovit I believe what they actually look for is who has a control stake in the entity
bhugbhug
2020-07-18 13:20
Why not? If you perform it outside the country
erik.stromberg
2020-07-18 14:09
Work would be carried out in Japan (I'm able to get a work visa)
simon
2020-07-18 18:21
@marziovit It seems the program is frozen until next year. https://www.thestar.com.my/metro/metro-news/2020/07/17/dont-freeze-mm2h-programme-says-mp#cxrecs_s
simon
2020-07-18 18:23
@erik.stromberg Indeed, work performed while in Japan will be liable to tax.
frederic.scheffer
2020-07-20 12:37
@simon concerning Portugal:
"Foreign-sourced income is generally exempt, including most pensions, although there are notable exceptions such as the capital gains from the sale of securities. It is important to understand what foreign-sourced income means, however, as there are several misconceptions on the subject. I have written a short guide on the subject which you can access here." (Source Freedom surfer).
The link to the NHR guide doesnt work.
Can you please explain if that would work with a LLP or dividends from a HK LTD? Thanks a lot
simon
2020-07-20 13:48
@frederic.scheffer Foreign-sourced essentially refers to income generated from work performed outside of Portugal (either by you or your team / employees). Management activities should also be performed outside of Portugal. In other words, if you want to live tax-free in Portugal, you should not engage in any work / business activities while in the country.
frederic.scheffer
2020-07-20 13:49
@simon thanks. Any advice from lawyers or first hand experience on how to do this? Should I put someone else as director of the HK LTD company and just pay myself dividends as an owner of the company?
frederic.scheffer
2020-07-20 13:58
@simon and in that case, tax should be paid in the source country (HK), right?
buynps.org
2020-07-20 14:31
@simon interesting, how many countries have this ?management? rule?
simon
2020-07-20 15:10
@frederic.scheffer You should limit the amount of time you spend in Portugal to a minimum (NHR works well in the context of perpetual travel, or if you own a company overseas but do not actively manage it). Tax will usually be paid in the country where the business is operating from (not necessarily the country of registration).
simon
2020-07-20 15:17
@buynps.org Pretty much every country has some sort of management rules. You can look up most countries? rules on PwC?s website (you can switch from Portugal to other countries using the list on the top left corner of the page): https://taxsummaries.pwc.com/portugal/corporate/corporate-residence
albert
2020-07-20 18:47
Barbados ?Welcome Stamp? seems to be accepting applicants already since July 18.
Grabbed the link from a news article
https://www.barbadoswelcomestamp.bb/
$2000 for individual
Bermuda seems to be jumping on the trend
http://www.royalgazette.com/politics/article/20200717/bermuda-to-welcome-remote-workers
$263 for the year
buynps.org
2020-07-20 20:41
@albert what?s the benefit of this?
buynps.org
2020-07-20 20:41
```WORKING REMOTELY FROM BARBADOS
? a special visa for remote workers who want to work and live in Barbados.```
buynps.org
2020-07-20 20:42
Does this give you a working visa??
albert
2020-07-20 20:50
@buynps.org basically a 1 year ?tourist? visa, because you cannot work for a local employer, but you can work for a foreign employer (i.e., they want to attract remote workers/nomads that do not take jobs from local residents)
albert
2020-07-20 20:56
This would be most beneficial for active nomads, like ecom operators, as you can tend to your Shopify store/FB ads manager, and sleep in peace
buynps.org
2020-07-20 23:48
@simon got it - are there any countries you know of that you can ?manage? a company and be fine?
simon
2020-07-21 00:02
Ukraine was one, but that will change in 2021. https://taxsummaries.pwc.com/ukraine/corporate/corporate-residence
Tax havens are fine obviously but they aren?t very attractive from a quality of life perspective, for the most part.
asarun72
2020-07-21 01:25
@buynps.org may be Mexico to an extent ? @simon ?
simon
2020-07-21 01:55
Mexico has recently expanded the list of triggers for the creation of a permanent establishment, they are now in line with most other countries.
simon
2020-07-21 02:01
Here?s a bit of information that may be useful to non-EU citizens. It?s widely known that it?s only possible to stay in the Schengen zone for up to 90 days visa-free (per 180 days).
That is not always true, however, as a significant number of bilateral agreements pre-dating the Schengen agreement are still in force. Most of those agreements (visa-free travel agreements between EU and non-EU countries) allow for up to 90 days visa-free regardless of time spent in other EU countries.
For example, France allows the citizens of the countries listed in this document to stay 90 days no matter how many days were previously spent elsewhere in the zone. https://data.consilium.europa.eu/doc/document/ST-14562-2016-INIT/en/pdf
By being aware of those agreements, and with some careful planning, it is possible to stay in the Schengen area indefinitely.
buynps.org
2020-07-21 02:16
@simon right, so that?s if you are in Ukraine and manage a Ukraine corporation?
brent
2020-07-21 02:23
That is very interesting @simon
brent
2020-07-21 02:23
Good to know..
burrup.lambert
2020-07-21 02:29
Any the agreements of any other countries @simon?
albert
2020-07-21 02:37
@buynps.org it looks like it means that if you have a US LLC that is being managed in Ukraine, starting 2021, the US LLC will be taxed like a Ukraine company at the regular corporate tax rates
ivan.lakatos
2020-07-21 03:15
On a similar subject, Georgia is extremely visa friendly as well. For example, Thai citizens can go to Georgia and stay 356 days. This applies to a lot of other non-eu countries too. https://matsne.gov.ge/en/document/view/2867361
frederic.scheffer
2020-07-21 07:59
@simon concerning Permanent Establishment, in the case of e-commerce business: any advices?
I have no office, and only work with subcontractors (no employees).
Do I need to decide of a PE somewhere so that when tax authorities ask its clear?
simon
2020-07-21 09:45
@burrup.lambert The Australian government maintains a list here: https://www.smartraveller.gov.au/before-you-go/the-basics/schengen#bilateral
simon
2020-07-21 13:15
@frederic.scheffer The best workaround is to avoid spending significant amounts of time anywhere. Setup your residency in a tax haven or territorial taxation country (including countries with special exemptions like Portugal, Uruguay, Chile, New Zealand, Israel etc) and then travel constantly. Obviously, you don?t have to move every week. You could do 4 months in one country, 4 months in another, 2 months in your country of residency and two months of fast travel.
frederic.scheffer
2020-07-21 13:47
Yeah that lifestyle is already mine.
Territorial taxation country: Thailand as well?
simon
2020-07-21 15:25
Thailand is not a territorial taxation country, you have to report your worldwide income there (except for your foreign income, in some cases).
buynps.org
2020-07-21 15:52
Yeah wow, so much misconception out there @simon!- people were calling Thailand territorial and a tax heaven all the time
buynps.org
2020-07-21 15:53
There are a bunch of expats there saying this stuff
albert
2020-07-21 15:55
@buynps.org I think it?s because many have not been caught so they feel its a tax haven because the chance of getting caught is ?low? to them
simon
2020-07-21 15:56
The confusion is because lots of people misunderstand what foreign-sourced means. They think that the income they generate via their foreign company / receive from foreign clients qualifies (it does not, if derived from work performed while physically in Thailand).
simon
2020-07-21 15:57
Only income generated from work performed while physically outside Thailand qualifies for the exemption, and only if not remitted to Thailand during the year it was generated in.
simon
2020-07-21 15:58
Passive income paid from foreign sources also qualifies (rental income from a foreign property, for example).
albert
2020-07-21 15:58
This is a position of 1 reputable firm
Regarding a Thai tax resident (basically anyone that stays in Thailand > 183 days)
albert
2020-07-21 15:59
buynps.org
2020-07-21 16:06
@albert good points
buynps.org
2020-07-21 16:06
@simon hmm yeah, from @albert?s link, it looks like it says exactly that
```The income will be considered Thai sourced income if it is derived from:
i. work performed in Thailand;
ii. business in Thailand;
iii. business of an employer in Thailand; or
iv. property situated in Thailand.```
buynps.org
2020-07-21 16:07
So it sounds like for Thailand, you can be a tax resident there, but just not do work (but manage a company)
buynps.org
2020-07-21 16:07
and don?t bring the cash into thailand in same calendar year
albert
2020-07-21 16:09
not quite @buynps.org
simon
2020-07-21 16:09
If the company is run from Thailand, it will be taxed in Thailand
simon
2020-07-21 16:09
Same as a Thai corporation
buynps.org
2020-07-21 16:11
Ah, right
simon
2020-07-21 16:12
Obviously the risk of getting caught is very low, especially if you keep quiet about it. I would guess that most nomads based there do not file Thai tax returns for themselves and their companies.
buynps.org
2020-07-21 16:12
> Corporate residence is determined by the place of incorporation. A company incorporated under the laws of Thailand is a resident company.
How do you break down that? From above it says determined from where it?s incorporated?
buynps.org
2020-07-21 16:12
> A company incorporated abroad is subject to CIT in Thailand if it is considered to be carrying on business in Thailand. The term ?carrying on business in Thailand? is broad and, subject to the provisions of a DTT, includes the presence of an employee, representative, or go-between that results in the foreign company deriving income or gains in Thailand.
buynps.org
2020-07-21 16:13
Ok - that there
buynps.org
2020-07-21 16:13
`includes the presence of an employee, representative`
buynps.org
2020-07-21 16:13
So you are a representative technically?
frederic.scheffer
2020-07-22 08:53
@simon Thailand is similar to Portugal: you can't be managing the company from Portugal, or its going to be taxable income. Isnt it?
simon
2020-07-22 09:41
@frederic.scheffer That?s the case in most countries.
burrup.lambert
2020-07-23 01:44
Oh wow. At least Australia make it super easy to find the list. If I get bored one day maybe I'll email the consulates of each and find out the requirements.
omocha_10
2020-07-23 15:12
I emailed the Latvian and Lithuania consultes and they gave me wrong information.
This situation is so new, that I think you can only know by going to the border/airport.....
julianmb
2020-07-25 12:08
I'm planing to leave HK, maybe forever but I'm planning to come here every 6 months. Is this enough to keep my tax residency? I'll be paying myself a salary and the phone bill
brent
2020-07-25 21:41
@julianmb - looks like you need to spend 180 days a year:
https://www.ird.gov.hk/eng/faq/dta_2006.htm#:~:text=A%20person%20who%20stays%20in,as%20a%20Hong%20Kong%20resident.
but, that's my very simplistic interpretation of things...
brent
2020-07-25 21:42
Your biggest risk, IMHO, is becoming tax resident in Australia.... (which I don't believe you want).
simon
2020-07-27 22:12
They have started accepting applications. Interestingly, they state in the FAQ that visa holders are exempt from income tax.
asarun72
2020-07-27 22:37
Do they issue tax residency certificate? @simon
buynps.org
2020-07-27 23:13
Better to wait for bermuda? or go for barbados?
buynps.org
2020-07-27 23:20
Any advantage to getting this residency if no plans to use it immediately? for example, ?getting in? before they pause the program or something?
buynps.org
2020-07-27 23:30
how would the tax work if you live there full time > 183 days?
albert
2020-07-28 01:03
@asarun72 Barbados is NOT a tax haven so I?d assume they will. They also have tax treaties with US/CA/etc? @buynps.org Those are regular tax laws (>183 days) before special programs.
asarun72
2020-07-28 19:06
Thanks man
buynps.org
2020-07-29 04:31
@albert
by tax haven you mean without any tax laws like cayman right?
& i am a bit confused by their tax laws - is it taking advantage on the fact that you are not domiciled there? or how do you not pay tax by being a tax resident there?
```An individual who is both resident and domiciled in Barbados is taxed on one's worldwide income.
An individual who is resident but not domiciled in Barbados is taxed on income derived from Barbados and on income from any other sources outside Barbados to the extent that a benefit is obtained in Barbados.
In general, a non-resident individual is taxed only on income arising in Barbados and is not entitled to personal deductions against income.```
albert
2020-07-29 04:44
the welcome stamp is a ?stimulus? plan that will override existing tax laws
step 1 - the charging provisions; the tax laws summarized in those tax highlights
step 2 - are there any exceptions?
step 2a - yes, the welcome stamp, specifically says you won?t owe any Barbadian taxes if you are accepted under the welcome stamp program and follow the program
felix
2020-07-30 08:47
If I am not mistaken it also depends on your source of income. If you get a director fee in your company I am certain that you ?need? to tax that in HK even if you spent less than 180 days there
buynps.org
2020-07-30 15:49
thanks, this makes sense
buynps.org
2020-08-03 03:32
@albert as for the tax treaty with canada, doesn?t this make it the best option then?
bobriakov.igor
2020-08-05 07:58
anyone has experience with setting up Bulgarian LLC + residency?
simon
2020-08-05 08:52
@bobriakov.igor @994kaloyan should be able to help you with this
max829
2020-08-06 13:48
Has anyone from Europe moved to the Czech Republic to set up tax residency there?
bartek
2020-08-06 14:35
I have some basic knowledge. What do you need?
max829
2020-08-06 14:36
I?m just wondering if there?s anything special in the registration process? Since we?re EU citizens is it possible to just register over there? Or did you go and get a temporary residency permit?
bartek
2020-08-06 14:37
You don't need residence permit if you are EU citizen :slightly_smiling_face:
bartek
2020-08-06 14:38
and if there is anything special... rather not, but if you want to do it in person, I would suggest some basic of Czech language at least :wink:
if you are doing it by 3rd party or some colleague who knows Czech, you will be fine
max829
2020-08-06 14:39
sweet, thank you!
bartek
2020-08-06 14:40
I don't know if I can provide links to specific services here, but there is one very popular and decent (although, a bit of expensive, but in Czech in general accounting etc. is rather expensive if you want english speaking accountant :wink: ), if you google it, it will be one of the top results, haha
bartek
2020-08-06 14:40
oh and you probably already know that and much more, but as an EU citizen you have to pay social and health care contributions, remember that :wink:
max829
2020-08-06 14:41
ah ok, cool, thanks! I?ll do some more research then :slightly_smiling_face:
bartek
2020-08-06 14:42
read specifically about social and health care contributions and something which is called "lump-sum deduction"
bartek
2020-08-06 14:43
in short words, your total taxation should be something around 12% with everything, if your income doesn't exceed 2mln CZK yearly
max829
2020-08-06 14:43
I see, will do. What if you?re on private health insurance? In Germany there?s the option to opt out of the public health insurance system.
max829
2020-08-06 14:43
Oh awesome
bartek
2020-08-06 14:44
I may be wrong, but not an option in Czech Republic, but better ensure yourself with someone more acknowledged specifically in this matter :wink:
max829
2020-08-06 14:44
ok, will do, thanks again! :slightly_smiling_face:
buynps.org
2020-08-10 17:06
Bermuda opens its $260~ residency
buynps.org
2020-08-10 17:06
simon
2020-08-10 17:22
Bermuda has no corporate / personal income tax, it?s one of the few ?true? tax havens.
buynps.org
2020-08-10 17:26
@simon wow interesting, what makes it better than your standard BVI tax haven?
simon
2020-08-10 17:28
They are both similar, tax-wise.
buynps.org
2020-08-10 17:33
Just applied. $263 payment taken upfront. Let?s see what happnes
simon
2020-08-10 19:10
@buynps.org Do you plan to spend time in Bermuda if approved?
buynps.org
2020-08-10 19:12
@simon I think i will just visit there for a week or something, and keep it as a backup plan. For $263 it?s a no-brainer. I think I messed up though. I put I dont have health insurance. Just looked at the FAQ it says it?s a requirement
buynps.org
2020-08-10 19:12
why do you ask?
simon
2020-08-10 19:19
Just curious, as while it?s an attractive option on paper I can?t imagine anyone living in a place like that for more than a few weeks. Not much to do and not ?fun? like the French islands.
buynps.org
2020-08-10 19:22
Yeah i see. I wonder if people will actually move there
buynps.org
2020-08-10 19:22
for me it?s just to have it on paper
2020-08-10 19:51
This message was deleted.
buynps.org
2020-08-10 19:55
ah okay thanks @arkdeeplove!
michael
2020-08-11 06:14
Malaysia my second home suspended... apparently a revamped version to be re-introduced.
jase
2020-08-11 08:24
I suspect this will be a good thing. MM2H always seemed a bit half baked to me.
brent
2020-08-11 08:38
@jase - I agree. Be interesting to see what they come up with...
jase
2020-08-11 09:02
Have you seriously considered living there @brent?
jase
2020-08-11 09:03
We explored a bit but nowhere clicked for us
jase
2020-08-11 09:03
Penang seemed to have some liveable areas
jase
2020-08-11 09:04
I am told here are a good few expats living on Langkawi but I don't think full time living there is for me.
simon
2020-08-11 09:23
KL has some pretty nice areas, if you like big cities. Excellent food too
brent
2020-08-11 09:32
Yeah, I was actually in KL just as this COVID stuff took hold... I had a pretty good setup, but there was something about KL that didn't quite resonate with me....
jase
2020-08-11 14:20
I liked Penang Hill
jase
2020-08-11 14:20
If I can figure out how to get a bungalow or whatever they are called there, I could handle it
jase
2020-08-11 14:20
somehow I feel this is out of my budget
bobriakov.igor
2020-08-11 16:20
KL, despite having quite good infrastructure and facilities, has some kind of grim vibe to it
bobriakov.igor
2020-08-11 16:24
from my last visit, I've got impression that many ethnic groups, while on a first glance living together nicely, are not really integrated with each other, and trying to keep to their own race for important life relationships (marriage, friends, business partners etc.) while not trusting outsiders much. Hence, some kind of feeling of low-trust society duct taped together by government media/propaganda efforts.
kuka
2020-08-11 16:52
I spent a year and a half in KL as a youngster and I agree with the statements above, it?s not a place I?d like to live in. There is an interesting fusion of cuisine and culture, yes but a couple of weeks would be enough to taste everything.
simon
2020-08-11 17:50
I?m no fan of KLCC (and the central areas) but quite like TTDI, Kiara, Bangsar and Damansara City.
simon
2020-08-11 17:55
Have you guys been to Kuching?
me1892
2020-08-12 07:39
I?ve been in KL for nearly a year? between KLCC & Bukit Bintang. I really like the life here but if I was to pick a new location now though I?d probably go for Bangsar
brent
2020-08-12 08:56
No, never made it to Kuching @simon
brent
2020-08-12 08:56
@bobriakov.igor - you're right, it does feel that way...
brent
2020-08-12 08:59
@jase - I had an awesome serviced apartment in Bukit Ceylon, for around $2500 AUD a month. ~1000sq ft, great gym, pool and because it was serviced, it included breakfast every day in the residents lounge (not sure if they've been doing that since COVID, but I digress)....
brent
2020-08-12 08:59
I found KL very affordable. The same lifestyle in Hong Kong would have been considerably more...
jase
2020-08-12 09:28
That's awesome @brent. It's always been a poor man's Singapore to me, which appeals because I am poor :joy:
jase
2020-08-12 09:28
Are you a city person? Do you find enough opportunities to be in nature?
simon
2020-08-12 10:11
@jase There?s some decent hiking in the mountains around KL. You need a car to get to most trails but with apps like GoCar that?s not really an issue.
michael
2020-08-12 14:21
I like KL... as a good base for SE Asia.
michael
2020-08-12 14:21
Yeah, I would recommend Bangsar for KL. @me1892
michael
2020-08-12 14:21
Lots of green, you need to hop on a car to get out. And there are the islands and other cities around in Malaysia.
michael
2020-08-12 14:22
Never made it to Kuching, it's on my list.
michael
2020-08-12 14:23
In terms of price... (reasonable), more natural green than most SE Asian cities... the vibe is different... it's definitely slower. And easier to get around, English (in general). There are risks... it wouldn't say it's the safest place, and of course the politics / religion.
jase
2020-08-12 14:40
How _unsafe_ are we talking though @michael? Can a woman walk around at night alone?
brent
2020-08-12 19:56
@jase I'm a city person for sure. Nature doesn't bother me currently, as that's not my focus :slightly_smiling_face: I found something online once that stated "Do business in Singapore, Party in Bangkok and Live in KL", in terms of a SE-Asian lifestyle lol
alex720
2020-08-12 20:08
Wonder if Malaysia will raise the mm2h investment required
brent
2020-08-12 22:09
@alex720 that's a real possibility, given the state of the world and that Malaysia managed (by sheer luck?) to dodge a bullet with COVID, perhaps it's going to be an attractive option on the surface for a lot of people now.... but again, we won't know until they release details of the updated program..
brent
2020-08-13 01:17
Violent crime involving foreigners (non-Malaysians) is almost unheard of (I'm sure it happens, I just didn't hear anything like that when I was there). KL isn't really much of a walking city either - got to use transport (public or private) to pretty much go anywhere!
brent
2020-08-13 01:18
Hahaha.... try living in Hong Kong mate... geez, I spent a small fortune living there for a number of years :sweat_smile:
I think Singapore is pretty reasonable to be honest... I think for what I was paying in KL, I could get something decent in SG... (but obviously smaller)
michael
2020-08-13 03:48
I would not recommend for a woman to walk around at night alone @jase
michael
2020-08-13 03:49
Non of my friends who live in KL (local and foreign) who are women, do not travel alone at night.
michael
2020-08-13 03:50
You just have to be aware when you are there.
rtiagm
2020-08-13 04:33
For how long do you have to stay in Bermuda to keep the residency ?
buynps.org
2020-08-13 04:55
it?s just for a year
rtiagm
2020-08-13 05:04
Do you have to stay a full year to be considered a tax resident? Or 6 months is enough?
buynps.org
2020-08-13 05:06
i believe it?s 6 months
buynps.org
2020-08-13 05:06
it seems quite hard though
buynps.org
2020-08-13 05:06
to live there
buynps.org
2020-08-13 05:08
anyone see the house prices in bermuda?? lol
buynps.org
2020-08-13 05:09
1 bedroom dump for $1600/mo
rtiagm
2020-08-13 05:15
Crazy prices. I was thinking it might be a good option with a sailboat though.
jase
2020-08-13 05:20
Interesting. My perception was similar to Brent's but maybe I am naive. Is there another city you'd compare it to from a safety perspective @michael? I figured it was probably similar to an Australian city where bad stuff happens but is rare.
jase
2020-08-13 05:21
This is quite an apt summary
brent
2020-08-13 08:32
Yeah, would be keen to hear your thoughts @michael
bigworld
2020-08-13 10:47
I just read that in Panama lockdown because of Coronavirus has been running for 5 months and counting :astonished:
jase
2020-08-13 10:51
Always a good idea to ask someone who lives there what the situation is like
jase
2020-08-13 10:51
The way Andorra was reported was hilarious/irresponsible
jase
2020-08-13 10:51
Myself and my family felt so safe here
jase
2020-08-13 10:54
From what I know/have experienced about Panama, I'm guessing it's "locked down" in a way that is pretty low stress for most people
simon
2020-08-13 12:40
@jase From what I heard, the lockdown in Panama was pretty strict (not sure if it still is). For example, you could only go out on certain days for necessities.
As for Andorra, the problem is that the population is tiny so even a small number of cases will make it look like a major outbreak (based on the ?average cases per 100000 over the previous 14 days? metric most countries use).
jase
2020-08-13 12:41
yeah exactly
jase
2020-08-13 12:41
My guess/assumption is that the Latin countries are a bit like Mediterranean
jase
2020-08-13 12:42
Gov needs to be heavy handed because many people don't listen to "please stay at home"
bigworld
2020-08-13 12:52
Everytime I listen/read the argument that the government have to withdraw our freedom of movement and other basic rights because we are not mature enough to use them responsibly, I wonder when they will try to withdraw the right to vote to the very same people for the very same reason.
jase
2020-08-13 14:09
Not agreeing with it, just making an observation of different cultures.
jase
2020-08-13 14:09
As someone who was born in Australia, I realise how Australians love "more laws". It's the country's answer to everything.
jase
2020-08-13 14:11
Then I observe China and the way they handled lock down. It's not possible in many other countries.
jase
2020-08-13 14:11
I read a really great article very early on essentially saying "China can lock down the problem, USA has to innovate their way out of the problem."
buynps.org
2020-08-13 16:01
@simon right now in Panama we?re only allowed outside 2 days a week for 2 hours each time. Based on gender and last digit of passport
buynps.org
2020-08-13 16:17
Lockdown was SUPER strict since day 1
buynps.org
2020-08-13 16:17
people are careful
buynps.org
2020-08-13 16:17
respectful of masks
simon
2020-08-13 16:22
@buynps.org Can you leave the country?
simon
2020-08-13 16:23
Or are the borders shut?
buynps.org
2020-08-13 16:25
@simon borders are SHUT
buynps.org
2020-08-13 16:25
no one in or out
buynps.org
2020-08-13 16:25
government keeps pushing the date back
buynps.org
2020-08-13 16:25
I can get on a humantarian flight though if i want to
buynps.org
2020-08-13 16:25
but no flights back in
simon
2020-08-13 17:11
It?s crazy, considering the strict lockdown, how cases keep going up by nearly a thousand every day. https://www.worldometers.info/coronavirus/country/panama/
buynps.org
2020-08-13 19:27
I have no idea why
jase
2020-08-13 20:29
maybe i have this completely wrong but I expect this type of treatment. If the gov is scared of screwing up (people flooding out the door of hospitals), and they don't think their citizens will behave, they're heavy handed.
jase
2020-08-13 20:29
compare that to the asian countries (not China) that are used to wearing masks, have been through SARS, etc... I think they're more mindful already, don't need to be as strict
jase
2020-08-13 20:30
I'm not saying I want this to happen again but it would be interesting to see how Europe handled another situation like this in 5-10 years time
buynps.org
2020-08-14 05:44
they accepted me in bermuda haha
frederic.scheffer
2020-08-14 06:20
@buynps.org what is your tax status after that? Can you be tax resident of Bermuda? Can you remit yourself income/dividends from, say a UK LLP, and pay 0% tax legally?
burrup.lambert
2020-08-14 13:30
Nice!
buynps.org
2020-08-14 14:56
@frederic.scheffer hmm not sure, can you be a tax resident of a place with no tax laws?? I think you can just become a resident there and move your central life there. to protect yourself from other countries? claims?
there are no rules on how to become a tax resident:
> https://taxsummaries.pwc.com/bermuda/individual/residence
frederic.scheffer
2020-08-15 11:50
Are you not interested to get residency in Bermuda for tax reasons?
michael
2020-08-15 16:49
I wouldn't put it on par in terms of safety wise to an Australian city.
michael
2020-08-15 16:50
It isn't a common everyday occurrence. However, as I said, it wouldn't be the safest. If we go by the benchmark of "Can a woman walk around at night alone?"
michael
2020-08-15 16:51
I think the majority of SE Asian countries would fall under this category... Jakarta, Manila etc... I mean, Singapore is obviously the exception.
michael
2020-08-15 16:52
A lot of stuff that happens, simply doesn't get hit to the main stream media.
buynps.org
2020-08-15 22:05
@frederic.scheffer you mean the whole point of getting the residency?
d.mikocionis
2020-08-19 16:49
I'm getting my residency set up in Dubai, all is possible here. Need to come back every 6months and some smaller rules apply
buynps.org
2020-08-19 20:31
@d.mikocionis how does the process look?
d.mikocionis
2020-08-20 07:03
i am in the end of now. but not that difficult. just find a lawyer, come to country, medical check, biometrics and that's about it
d.mikocionis
2020-08-20 07:03
paid 12k/e for it + traveling
frederic.scheffer
2020-08-20 12:32
Opened a freezone company as a requisit? Did you manage to open bank account? Any need to keep the company active ?
d.mikocionis
2020-08-20 15:31
1. Yes to this one. 2. Opening right now, seems it should go through. 3. None that I know of
felix
2020-08-22 06:57
Good luck. Have lived there for 2 years. Let me know if you need some tips on bureaucracy, living, etc.
koshis
2020-08-22 09:59
Which freezone did you choose? And what provider did you use if you don't mind sharing
koshis
2020-08-22 10:02
Australians love being told what to do :man-facepalming::skin-tone-2:
koshis
2020-08-22 10:06
I'm actually planning on setting up there myself. Looking into a DMCC freezone Co setup. Interested to hear any general tips for company setup or good buildings/areas to rent an apartment @felix
felix
2020-08-22 10:10
Will send you a PM
d.mikocionis
2020-08-24 18:17
DMCC
joe
2020-08-29 21:39
was reading about the MM2H suspension, i would advise setting up a labuan company and apply a 2 year work permit for yourself.
tmclayson
2020-08-31 08:08
Hi all. New here. Pleasure to (sort of) meet you. I have a somewhat complex question mixing citizenship, residency and taxation.
I'm a British, so soon to lose my freedom of movement rights. I'm a copywriter and online marketer. My company is based in Estonia, and all my clients are in the US. I'm also soon to start a US LLC, selling health supplements in the US. I currently live in Germany, but intend to go to Portugal at the end of this year or next.
If I stay in Germany until September 2021, I could apply for German citizenship (my wife is German), but I would have to give up my British citizenship I'd have a hefty tax bill due when I file for 2021 (I'd file in 2022). I naively thought that if I paid myself the bare minium of salary I could protect my profits inside the Estonia company until I relocated, but that seems unlikely now that I understand CFC laws better (happy to proven wrong if someone has a suggestion).
I don't particularly want to pay that bill, so my question is this:
If I were to drive to Portugal, rent a broom closet for the year register, and apply for tax residency there for 2021 when would Germany find out about this?
My idea would be then drive back to Germany (my wife, baby, and pets preclude me from staying in Portugal alone)...and apply for citizenship in September, I could in theory not pay the 2021 tax bill in Germany, while also getting the German citizenship (freedom of movement seems useful to have).
Since April, my wife and I don't have a rental contract in Germany, or any utility bills since we are staying in an annex of her parent's house). We are however registered at the local town hall, which I assume would need to continue for me to get the German citizenship. She is technically employed, but has been off work due to pregnancy + coronavirus since April, and will be on maternity leave from tomorrow. She has no intention of returning to her work next year.
So given the lack on rental contract, utility bills etc here. If I have those in Portugal, then I feel like it would be easier to prove my residence there.
So I#d be telling the immigration office that I was in Germany, so please give me citizenship, and then 6 months later when I do my tax return, I'd tell them I was actually resident in Portugal and I've already paid what was due there.
Hopefully that makes sense...any thoughts welcome.
mikeseo
2020-08-31 14:57
imho: your wife is pregnant, just stay in de to give her a easy stress free time. don't apply for de citizenship, don't get on their radar for de taxes, british passport is good for world travel, plus you can always get a visa via your eu spouse. plan to move somewhere low tax like andorra in a couple years, portugal no tax is not reality. US isn't part of cra for now...
tmclayson
2020-08-31 17:30
I don't expect to pay no tax...less than 40% after all is said and done would be an improvement!
vinodgn0088
2020-08-31 17:31
@https://app.slack.com/team/U019MUBNEKX, Are you married to your wife or living together only? [If you are married then DE can still claim you as tax resident in DE because your family is living in DE. DE will let you reduce the taxes in paid in Portugal; But in the end your total taxes will remain same. ]
tmclayson
2020-08-31 18:19
We are married, and we'd both be relocating.
simon
2020-08-31 19:44
@tmclayson Considering that you will soon apply for citizenship, I?d recommend staying in DE until that is approved. They will scrutinise your situation as part of the application process, making your plan risky. Once you have DE citizenship, you will be free to move to Portugal or anywhere you want, without this risk.
bhugbhug
2020-09-02 15:03
Hi all, I'm in the process of applying for the temporary resident visa for Mexico (up to 4 years residency) and I'm wondering if I should actually complete it. I wanted to make it easier to eventually buy a car/property/open a bank account there, but I am worried it could triggers tax issues as a self employed if I work there. Anyone with this kind of visa had issues in Mxico? Is sticking with tourist visas a better idea to stay under the radar?
asarun72
2020-09-02 17:17
Mexico is not a tax heaven but it does has some relaxations. Read simons blog. If you value heath care , food and things to explore etc,. Mexico , Costa Rica are the best in north and Central America.
bhugbhug
2020-09-02 17:49
Ye it's already one of my favorite that's why I was thinking about the visa de residencia temporal; the thing is the article from simon site says "Only domiciled residents are liable for Mexican taxation" and according to pwc there is a tax rate of 15% or 30% for non resident : 'https://taxsummaries.pwc.com/mexico/individual/taxes-on-personal-income
bhugbhug
2020-09-02 17:50
So are you supposed to not declare any work under this visa as you would do under a tourist visa?
simon
2020-09-02 18:17
@bhugbhug Non-domiciled residents are still liable to tax on their Mexican income, if any (depending on your work, and where you perform it, you may have income that is deemed Mexican). It certainly is safer to stay in the country as a tourist, if your goal is to fly under the radar.
bhugbhug
2020-09-02 18:54
Thanks @simon I'll probably keep it as a backup solution, as I am primarily focused on NHR right now (I sent u an email about it)
danz
2020-09-07 15:37
simon
2020-09-07 16:14
@danz Interesting alternative to the regular economic citizenship options, although not very attractive from a tax perspective (the article seems to imply tax residency, and tax rates are high in Dominica).
alex720
2020-09-07 16:16
Lots of tax planning possible it seems since only 3 months time spent in Dominica . Could potentially set up a company in Dominica and hire employees that provides services to your company elsewhere
buynps.org
2020-09-07 16:30
What do you think? is it worth it?
alex720
2020-09-07 16:30
Not sure what the wages are in Dominica
buynps.org
2020-09-07 16:30
> the article seems to imply tax residency
buynps.org
2020-09-07 16:30
from si
buynps.org
2020-09-07 16:30
simon?
alex720
2020-09-07 16:30
And if Dominica is ice to spend time in
alex720
2020-09-07 16:30
Nice*
buynps.org
2020-09-07 16:30
do you have to take tax residency?
alex720
2020-09-07 16:31
From Deloitte
alex720
2020-09-07 16:31
Residence ? An individual is considered resident if he/she is physically present in Dominica for at least
183 days in a calendar year.
alex720
2020-09-07 16:31
Program only wants 3 months a year
simon
2020-09-07 16:52
Indeed, but the answers in the article imply tax residency. Maybe the interviewee was mistaken.
simon
2020-09-07 16:54
If this program does not trigger local tax residency, and the fees are reasonable, this could be a good option for those who do not mind living six months on the island (in total).
jason
2020-09-07 18:08
Curious about the 50k "investment" option, any chance of getting that back or is a donation in disguise..
buynps.org
2020-09-08 05:27
@simon am I blind - or where do you see the tax residency implications?
buynps.org
2020-09-08 05:28
> _To find out more on the�Dominica?s�Entrepreneur Visa, please contact us at _
I sent them an email, do you think they?re sketchy? it was listed in the article
buynps.org
2020-09-08 05:28
will report back some info
buynps.org
2020-09-08 05:28
@jason you think they?ll steal it after 2 years? :rolling_on_the_floor_laughing:
simon
2020-09-08 08:58
?This will be important when the applicant is asked to prove residency in Dominica (for example, if being queried when applying for a bank account elsewhere as a Dominica resident)?
simon
2020-09-08 08:59
The only reason a bank would ask for proof of residency is for CRS purposes and / or to ensure eligibility to treaty benefits.
jason
2020-09-08 13:11
I would love to get visa free travel to Russia eventually (I'm the only member of my family _*without*_ a Russian passport), a few of the Caribbean passports (including Dominica) have this so I keep my eye on programs like this..
burrup.lambert
2020-09-08 13:38
Argentina has visa free access to Russia :wink:.
jason
2020-09-08 15:43
@burrup.lambert not sure if I could tolerate the residency requirements for Argentina! I might end up one day just paying 150-200K and getting a St. Kitts citizenship. Panamanian citizenship would also do it, but everything I've heard/read recently is that they put up serious bureaucratic roadblocks so even if your technically eligible it just never happens.
burrup.lambert
2020-09-08 15:57
6 months minimum each year (more is better) until you get citizenship for Argentina.
buynps.org
2020-09-08 16:30
Ok, I see
buynps.org
2020-09-08 16:36
@jason i haven?t heard anyone get their passport yet.. + from what i understand panama doesn?t support dual citizenship.. don?t know how they can inforce that though
jason
2020-09-08 16:38
@buynps.org they can't enforce it, kind of wish they could, would be easier than paying US the exit fee + taxes to get free :rolling_on_the_floor_laughing:
buynps.org
2020-09-08 16:38
what happens when they publish it publically?
buynps.org
2020-09-08 16:38
what will your other citizenships say or do?
buynps.org
2020-09-08 16:39
i think you have to sign something to promise you?ll get rid of the others
jason
2020-09-08 19:44
@buynps.org I assume that would depend on the laws of your other citizenships, not an expert though.. but at least for a US citizenship it wouldn't mean anything, you can't simply sign a foreign document and cease to be a US person.
frederic.scheffer
2020-09-09 01:24
Yes, who actually got their Panama passport?
jason
2020-09-09 02:00
@frederic.scheffer yeah, nobody I ever heard of..
michael
2020-09-09 04:38
St kitts price dropped. Expect other CBI's to follow.
buynps.org
2020-09-09 04:40
```DONATION TO GOVERNMENT FUND
Single applicants can contribute $150,000 to the Sustainable Growth Fund (SGF) or a family of up to four people can contribute $195,000 + costs.
** LIMITED TIME OFFER: Families of four can benefit from a $45,000 price reduction and contribute just $150,000 to the SGF up until Dec 2020. Please contact our consultants for details.```
buynps.org
2020-09-09 04:40
@michael dang
buynps.org
2020-09-09 04:41
what makes you say that?
rtiagm
2020-09-09 14:22
Is $150,000 the new price?
jason
2020-09-09 16:05
Wish I had an extra 150k right about now, still trying to get my location independent business off the ground..
jase
2020-09-19 13:45
So for those wondering, advice to me from this week is that residents of Andorra are not taxed on company income from abroad, where a DTA does not exist, as long as that company is taxed at 4% or higher.
jase
2020-09-19 13:46
I know Andorra isn't a hot place for many of you but thought this could be helpful info.
jase
2020-09-19 13:47
Irony is, if Labuan increased their tax rates, it could be interesting for someone like me but this rule means it is not useful (as I'd pay 10% on top of the 3% and am better off using an Andorran company).
simon
2020-09-20 09:13
@jase Do you know if the exemption is based on the country?s headline rate or the rate your company actually pays?
jase
2020-09-20 12:12
Claimed to be the rate your company actually pays @simon. Issue is I can't find this in a legal document.
bobriakov.igor
2020-09-20 19:55
on a side note, recently I learned that Andorra is an actual diarchy, meaning that it is ruled by 2 sovereignities.
_From wiki - Andorra known as a�https://en.wikipedia.org/wiki/Principality�as it is a�https://en.wikipedia.org/wiki/Diarchy�headed by two princes: the�https://en.wikipedia.org/wiki/Bishop_of_Urgell�in�https://en.wikipedia.org/wiki/Catalonia,_Spain, and the�https://en.wikipedia.org/wiki/President_of_the_French_Republic._
alex720
2020-09-21 01:01
If it?s headline, Maybe cyprus ip box would be interesting at 12.5% headline and 2.5% actual
jase
2020-09-21 06:33
Yeah, around here it's referred to as a "co-principality"
burrup.lambert
2020-09-25 00:39
Couple months old but...
https://guruguay.com/tax-residency-uruguay/
You can now get tax residency in Uruguay for USD$380,000 investment in real estate with a 10 year tax holiday and only 2 months required there each year.
Perhaps someone in Uruguay can confirm?
jason
2020-09-26 21:50
Questions for EU citizens / passport holders.. can one bounce around various EU states all year long without becoming a tax resident as long as you don't spend > 183 days in any one country?
mb
2020-09-27 07:15
From what I?ve read up, in theory yes. But I think a lot of countries have a common way to ?test? if you are actually tax resident or not. E.g. are your married wife/children based in a specific country? All your businesses/investments are in that same country? Do you have a mobile phone plan in that same country? I know the Netherlands uses this methodology and Spain. I think also known as ?vital centre of life?.
mb
2020-09-27 07:15
If neither is the case, I?d say ?in theory? you should be fine. Maybe Simon can give a better answer to this.
mb
2020-09-27 07:16
The only thing is, for instance some countries require you to pay ?tourist tax? when renting a place/AirBnB. I?d see this as a way to ?register? your total time of stay within a year, so lookout with that too. E.g. I know this from experience in Czechia and Slovenia.
mb
2020-09-27 07:18
In the Netherlands you can stay at most 4 months within a year, without having to register at the local municipality.
mb
2020-09-27 07:18
In the end I think it comes down to, staying within legal boundaries and ?how long can you remain under the radar?.
jason
2020-09-27 14:21
@mb thanks for the great info! I picked up an EU passport and am building a location independent business, trying to figure out what my options are.
jason
2020-09-28 21:56
Planning on going to Panama next year and getting a residency permit, anyone done this? I hear it's pretty easy?
mikeseo
2020-09-29 02:10
it's relatively easy but don't do it if you just want the citizenship because they probably won't naturalize you after 5yrs
felix
2020-09-29 08:18
Anyone acutally got the naturalization?
frederic.scheffer
2020-09-29 12:17
@burrup.lambert about Uruguay:
From The Economist 26th Sep
"The exchange on Calle Gorlero, Punta del Este's main shopping street, suggests that the drive to attract new residents to Uruguay, launched by the country's conservative president, Luis Lacalle Pou, is beginning to work. On June 11th, three months after taking office, he issued a decree making it easier for foreigners to settle in the country. It reduces the value of property a person must buy to qualify for residency from $1.7m to $380,000. For business owners, the minimum investment has been cut from $5.5m to $1.7m. A five-year tax holiday for both sorts of newcomer has been extended to ten. Foreigners need no longer spend six months every year in Uruguay to qualify for residency. From July 1st the minimum stay is 60 days. The legislature endorsed the changes in August.
It does not tax income earned or wealth held outside the country."
felix
2020-09-29 12:22
Very interesting. Thank you for sharing! I recently spoke with a friend of mine who told me about the new Montevideo commercial zone which must have some great benefits in terms of taxation, etc.
oscar3000
2020-09-29 13:24
Attaching email from Uruguay agency, (in Spanish); How to obtain Uruguay Visa, (webinar has cost of $25)
Tenemos el agrado de participarlo este�*viernes 2 de octubre*�a las 11 hs, en nuestro nuevo webinar ?�*Residir y Emprender en UY ?*�asesoramiento tibutario y legal.
�
Todo lo que usted necesita conocer para obtener la residencia fiscal o legal, emprendedurismo en Uruguay, un espacio de preguntas abiertas para poder interactuar de forma directa.
�
Por inscripciones registrarse en�
�
Costo; USD 25��
https://www.mercadopago.com.ar/checkout/v1/redirect/b772264c-f31e-4ccc-b2ef-57c394b49899/payment-option-form/?preference-id=617943480-ac0c5968-3a86-450d-8d7c-cd122e689030&p=badd686c720a14aef0b779196a32b82b#/
�
Lo esperamos?.
burrup.lambert
2020-09-29 14:24
Nice work!
omocha_10
2020-09-30 13:12
Uruguay will end up being a ?barrio cerrado? for wealthy Argentinians as tax refugees....
gastan
2020-09-30 17:21
I dont know about anybody... But since Panama does not accept dual citizenship, you are supposed to renounce your current citizenship. I can imagine some people who got Panamanian passport wont go around bragging about it, since the logical question - "what did you do with your previous citizenship?" - may be asked...
felix
2020-10-02 11:49
Good point. Didn?t know about this restriction. Thank you
toby
2020-10-03 19:22
Hey everyone, I'm looking for an agency or a law firm that does something similar to Andrew Henderson (Nomad Capitalist). Essentially, I'd like someone to put together a plan for residencies, passports, investments, banking and business structures. I haven't hear many good things about Andrew but I am very intrigued by his offering. Do you know of anyone who provides a one-stop-shop consulting service like that?
koshis
2020-10-04 07:55
Have you reached out to Simon if he can do this ? There's a lot of info in here that you could just draw from, honestly the knowledge from Simon and people in here is pretty much cutting edge..
Where a re you based and what is your situation?
bobriakov.igor
2020-10-04 14:04
there is also a Flag Theory, you may want to check them out too
jase
2020-10-05 08:59
I've thought about setting this type of thing up with a mate but I think people will always be underwhelmed. There's no way that a "global consultancy" can understand so many intricate systems well.
frederic.scheffer
2020-10-05 15:50
I guess that you can just share here and many people can help you. Many of us have experience in various jurisdictions and various company / personal taxation scenarios. You'll probably get more from a group than an individual offering this service
frederic.scheffer
2020-10-05 15:51
And once you have a few potential solutions you can contact firms like KPMG or others to confirm it works and work on the details.
toby
2020-10-05 16:15
That's great advice @frederic.scheffer! I think your right. Right now I feel like this would be a full time job in addition to running the business that caused me to think about this stuff in the first place. I do like the idea of getting a firm to cross check the plan and I guess from there onwards I could contact local lawyers to help with implementation. Would that make sense?
toby
2020-10-05 16:18
@jase yeah I absolutely see the need for it. I am always happy to pay a premium for being able to hand things that aren't my core expertise off to an expert, if there is one. However, I might not understand the complexity thats required for having a portfolio broad enough to be the best option for any client.
toby
2020-10-05 16:19
@bobriakov.igor thanks! I totally forgot about them
toby
2020-10-05 16:21
@koshis I haven't yet. I guess I assumed he's focussed on the business aspect only but gonna ask him about it now. I'm in Europe for now but heading back to Asia later this year. Simon already helped me with the business set up which is in the US/Estonia so maybe we can add to that.
frederic.scheffer
2020-10-06 07:16
@toby yes it makes sense
simon
2020-10-07 18:16
It?s not cheap but the big four can definitely help with a global setup (PwC, Deloitte, KPMG and EY).
simon
2020-10-07 18:17
It?s also worth getting in touch with the tax authorities of the countries you are interested in, they usually have people that can answer your questions and in some case that can provide advance rulings. I?ve personally gotten tons of useful info directly from the IRS, HMRC etc
richkuai
2020-10-11 09:10
On the above link it says "A non-national who has been granted a Barbados Welcome Stamp to work remotely from Barbados is deemed not to be resident in Barbados under the Income Tax Act." - does this mean that your previous country will still be able to tax you?
simon
2020-10-11 09:38
@richkuai Possibly, depending on a number of factors such as ties, how many days you spent there etc
buynps.org
2020-10-17 01:31
people trying to get nomad residency visa passed in CR
asarun72
2020-10-17 03:36
$5000 a month in salary
simon
2020-10-17 07:46
That?s surprising, considering the rentista visa for CR requires only 2500$...
simon
2020-10-17 07:49
Dubai also launched a remote work visa: https://www.visitdubai.com/en/sc7/travel-planning/travel-tools/work-remotely-in-dubai
simon
2020-10-17 07:50
A much better option for those that want to live in the UAE than the current freezone company + work permit route.
asarun72
2020-10-17 07:56
You need a sponsor ? Or direct apply to the government office ?
simon
2020-10-17 07:58
From what I understand, you must apply directly with the Dubai government.
simon
2020-10-17 07:59
The fee is 287 USD and the visa is valid for a year
asarun72
2020-10-17 08:08
Thanks .
asarun72
2020-10-17 08:08
Thai Digital nomad like visa . https://docs.google.com/forms/d/e/1FAIpQLSfI0aWULSxnDJOI7avMNauI6-txI-whWuZAh-j_ETreFR2E3Q/viewform
asarun72
2020-10-17 08:08
Found it on a Facebook group for nomads
simon
2020-10-17 08:21
@asarun72 Interesting, thanks for sharing.
ivan.lakatos
2020-10-17 08:32
Indeed, interesting. Thanks @asarun72
bobriakov.igor
2020-10-20 06:00
@asarun72 it is not clear who is behind this Google Form?
bobriakov.igor
2020-10-20 06:01
There are already a few companies in Thailand who can help you to get working visa, seems like guys behind this form trying to achieve something similar (i.e. seem like it is not government initiative)
alexbadaoui1
2020-10-20 13:04
Hey Freedom Surfer?s!
There are new visa?s available ? Digital Nomad Visa?s
I am in the process of creating an Antigua Digital Nomad Accelerator Program where I will have you integrated into Antigua as fast as possible.
I would appreciate it if you could take a look at my google form linked below. It shouldn?t take more than a few minutes.
https://forms.gle/x8T9aLSrTNuTHG3n6
Fellow Surfer,
Alex
mb
2020-10-20 13:24
Interested in https://e-resident.gov.ee/nomadvisa/ some questions:
? While having the temporary permit, are you obliged to pay taxes in Estonia for any services rendered/invoiced to any of your companies abroad?
? Does the same apply when running your Estonian OU 'remote' on your Nomad visa while staying *in Estonia?*
? Do you need to officially rent an apartment / accommodation?
Also interested about Aruba.
alexbadaoui1
2020-10-20 14:49
Hey Michel, @mb
Sorry I don't know much about Estonia or Aruba
buynps.org
2020-10-21 19:59
Heads up on some news from Panama. Tightening up their visa programs
> In addition, Panama immigration has�*PROPOSED*�significant changes to the Friendly Nations Visa.�These proposed changes are listed below.��*These are only proposed changes at this time*.�A group of immigration lawyers have written a letter. and requested a meeting, with the Immigration Director requesting that the changes not take effect for at least 6 months.�We should know this month what will happen to the Friendly Nations Visa. Of course, I will let you know as soon as I know the details.
> As you can see from the proposed changes to the Friendly Nations Visa, it seems to have been written by real estate agents trying to FORCE you to buy real estate if you want to get a Visa in Panama.
> *Proposed changes to the Friendly Nations Visa*�(if real estate agents in Panama get their way)
> 1. It will require two (2) applications to obtain permanent residency. You will first apply for a two (2) year temporary residency and then before that expires you will apply for the indefinite residency.
> 2. The economic purpose of the visa will be provided with the following options:
> a) Having a Job in Panama while providing all the corresponding contracts and paperwork from the company giving you work (payroll, operation permit, good standings, etc?)
> b) Purchasing a property with a value at least of $200k. Important thing here is that you are allowed to purchase with a mortgage and there is no minimum established from your own money. So for example you could put $20k down and finance $180k as long as you obtain financing for that amount.
> c) Establish a business or buy a business with $150k minimum investment.
alex720
2020-10-21 20:12
Where did you read this? @buynps.org
jason
2020-10-21 20:24
hrmm, if that's true I wonder if the situation will be the same for us Italians with Panama's "The Mutual Friendship, Commerce and Navigation Treaty" (very similar to the Friendly Nations visa)
buynps.org
2020-10-21 21:15
alex720
2020-10-21 21:19
Thanks
burrup.lambert
2020-10-21 23:36
I thought the Italy/Panama agreement allowed each others citizens to move to the other without a visa? So no need for FNV or any other.
mikeseo
2020-10-21 23:48
wonder why they are making it harder? Chinese abuse? More visa application fees?
alex720
2020-10-21 23:49
It?s a way to stimulate real estate industry
jason
2020-10-22 01:49
I was talking with a law firm in Panama about this, as an Italian I would still have to open a Panamanian corporation and do everything someone from the US would do, the only difference was I got to skip a $500 fee.
burrup.lambert
2020-10-22 02:02
:confused:, I remember trying to find information about it online but there wasn't much.
jason
2020-10-22 02:09
Getting a Panamanian residency is very high on my list of things I want to do, was planning on doing it in 2021
julienduteurtre
2020-10-24 18:09
This has nothing to do with the Friendly Nation Visa, this is residency options for people that are not eligible for FN visa. (I just checked with my lawyer).
buynps.org
2020-10-24 18:27
@julienduteurtre interesting, are you sure??
> In addition, Panama immigration has�*PROPOSED*�significant changes to the Friendly Nations Visa.
julienduteurtre
2020-10-24 18:48
My lawyer is sure :slightly_smiling_face:
julienduteurtre
2020-10-24 18:49
Friendly Nation is (and was not) THE only way to get residency in Panama, there are other ways like what you mentioned :slightly_smiling_face:
buynps.org
2020-10-24 18:53
interesting :smile:
burrup.lambert
2020-10-24 20:11
You'd have to be pretty unlucky to not be eligible for a FNV!
julienduteurtre
2020-10-24 20:14
@burrup.lambert I guess around 90% of the world is not eligible to FNV
julienduteurtre
2020-10-24 20:15
any person outside of those country are not :
? Great Britain
? Germany
? Argentina
? Australia
? Republic of Korea
? Austria
? Brazil
? Belgium
? Canada
? Spain
? USA
? Slovakia
? France
? Finland
? Netherlands
? Ireland
? Japan
? Norway
? Czech Republic
? Switzerland
? Singapore
? Uruguay
? Chile
? Sweden
? Poland
? Hungary
? Greece
? Portugal
? Croatia
? Estonia
? Lithuania
? Latvia
? Cyprus
? Malta
? Serbia
? Montenegro
? Israel
? Denmark
? South Africa
? New Zealand
? Hong Kong
? Luxembourg
? Liechtenstein
? Monaco
? Andorra
? San Marino
? Taiwan
? Costa Rica
? Mexico
? Paraguay
burrup.lambert
2020-10-24 20:21
Not looking to butt heads mate but FNV approves people from around 50 countries, and there's about 200 countries total, that's basically 25% of the worlds population (going off country). It is one of the easiest, if not THE easiest way to get PR for a huge number of people. If you know an easier visa that accepts such a broad list of countries I'm all ears!
simon
2020-10-24 20:30
Paraguay is arguably easier, but not as valuable.
buynps.org
2020-10-24 20:39
@simon what do you think the advantages for Panama are over Paraguay?
simon
2020-10-24 20:41
It?s much easier to qualify for tax residency. It?s also easier to get to (important as you need to visit the country as part of the process).
jason
2020-10-25 15:16
Thanks JC, that's good to know!
oscar3000
2020-10-29 19:15
Hi everybody,
Europe is shutting down and it seems that chaos / anarchism is around the corner.
And as astrologer specialist to economy and geopolitics I predict collapse (change) of most regulations (constitutions) we considering today thanks to sort of civil revolution against such draconian and corrupt governments. (no surprise that Paypal will start to allow cryptocurrency and others to follow; once people will get open more to cryptocurrencies the entire world business model will shift and current tax regulation to face big challenges)
I have a question:
Currently i'm in Algarve, Portugal (luckily no obligatory mask outdoors in this region) yet I smell personal freedom in risk to come here soon as well.
since I hold 2 flags already (Israel & Spain) I feel called to do 3rd flag in Uruguay; not interested to start NHR (Non Habitual Residency in Portugal) considering upcoming European mess.
and as traveling these days get harder if anybody familiar with Uruguay current situation (& restrictions wise) also to suggest fastest way to apply for residency or business visa? and in order to enter Uruguay from Europe during November 2020.
to what I read, Uruguay decided to avoid tourism and will allow foreigners to enter for business purposes only. (I wonder what document could I show in order to justify business travel purpose for next week)
Best to all..
yaron.been
2020-10-29 20:43
@oscar3000
You mind sharing what makes you feel that Uruguay is a good choice?
alex720
2020-10-29 20:44
I read that you can also travel to Uruguay if you?re moving there
alex720
2020-10-29 20:44
But need to quarantine
oscar3000
2020-10-29 21:33
Can you share a link about it?
And How to proof one travels with purpose to live there ?
oscar3000
2020-10-29 21:38
Uruguay is one of less ?cases? (green country) also least corrupted offering attractive opportunities for digital nomads and foreign business.
Above all, moving out from cold winter that is coming in northern hemisphere.
yaron.been
2020-10-30 07:19
Gotcha. Thanks Danieli
alex720
2020-10-30 22:49
Don?t have the link but you can ask a lawyer in Uruguay for more details about it
alex720
2020-10-30 22:49
There are stories online of argentinians going to Uruguay and having to do a 14 day quarantine
alex720
2020-10-30 22:51
argentinians who are in process of moving to Uruguay
yaron.been
2020-10-31 12:01
Very interesting.
Can be very relevant if it actually happens.
Thanks for sharing
frederic.scheffer
2020-11-01 09:21
The Economist mag, this week, about Italy's 100k? flat tax:
"AH, ITALY! ?The school as well as the playground of the world,? as one of E.M. Forster's characters described it: cities packed with the greatest Western art and architecture, ravishing landscapes, delicious food and a sunny climate. What a place to live?but for the tax, levied at 23% from the first euro earned and at progressively higher rates up to 43% on income over ?75,000 ($89,000). But a small number of very rich people?ultra-high-net-worth individuals, in the jargon of private offices and estate agents?are living the Italian dream while paying what, for them, are modest taxes. Several hundred belong to a scheme in which they pay an annual ?100,000, plus ?25,000 for each member of their family. The flat rates, which apply only to non-Italian income, are valid for 15 years. After that, unless the programme is renewed, its beneficiaries will become subject to Italy's normal regime. Cristiano Ronaldo, a Portuguese football star, is said to be among those who have made use of the scheme. In 2018, the year after it came into force, he surprised the footballing world by transferring to an Italian side, Juventus."
ggiampieri
2020-11-01 13:00
Sure that works, would be happy if government does it for remote workers with a 20k flat tax. Will never get it. (all those empty coworking spaces around the country would immediately be full)
klaus
2020-11-01 13:23
Italy is one of my absolute favourite countries in the world. Would love to live in Sicily. But with the tax regime - no thanks.
benjamin
2020-11-01 15:59
Not sure if mentioned. But the Philippines SRRV program has been halted while they possibly make changes to it.
The concerns are mostly about the age requirement at 35.
In my opinion, that's the most attractive part of the program so it will be interesting to see if they up the age to a normal retirement age.
https://www.pna.gov.ph/articles/1119539
marziovit
2020-11-10 11:09
Looks legit, it was featured on lots of media. It could be a great option for Britons who are already accustomed to shitty weather :stuck_out_tongue:
bountybairn
2020-11-16 14:11
Got my residency sorted for Cyprus, one hiccup which slowed this down for me was my marriage certificate - being from Zanzibar this had to be apostatised by the consul / embassy but aside from this, with my lease, UK / Cypriot bank statements. (Showing income from abroad as my means of living) and health cover was able to get the residency fairly easily though it was all manual, offline and waiting in queues at the office.
mb
2020-11-16 14:18
@bountybairn Did they specifically ask for a marriage certificate? Or only after you told them you're married? Just curious.
alex720
2020-11-16 14:19
@bountybairn which residency did you get
alex720
2020-11-16 14:19
did you get the fast track option for 300k euro?
alex720
2020-11-16 14:19
Or another option
bountybairn
2020-11-16 14:21
@mb the appointment was for myself, wife and daughter. On reflection of course we could have made separate appointments, or only one adult with the paperwork. It would have been much easier.
@alex720 I'm an EU citizen already, so I didnt need any investment to get MEU1. Hold that for 5 years then I can apply for MEU3/ Citizenship
alex720
2020-11-16 14:21
Oh ok
nemanja.mirkovicru87
2020-11-17 09:45
Has anyone applied for Dubai remote work visa? Just wondering how long it takes for them to review etc.
alessio.zazzarini
2020-11-17 12:08
I am very interested in the topic too
alessio.zazzarini
2020-11-17 12:08
It would be also nice to understand if then we should be there for 6months+ to be tax resident
alessio.zazzarini
2020-11-17 12:10
What was your main reason for getting the residence in Cyprus?
nemanja.mirkovicru87
2020-11-17 12:23
I don't think that changes in any way.
frederic.scheffer
2020-11-17 12:40
Same. Following
alessio.zazzarini
2020-11-17 14:43
Thanks for your answer
simon
2020-11-17 15:45
Yes, six months in the UAE for a tax certificate. You must also visit the country once every six months to keep the visa active.
buynps.org
2020-11-17 19:13
Interested as well
burrup.lambert
2020-11-18 17:48
For those interested in these new "digital nomad" type visas, I heard today from a source that Argentina is introducing one.
Name: Nomad Visa
When: Feb/March 2021
Cost: Maybe free?
For how long: 1 year with possibility to renew?
How do I get it?: At your consulate or in Argentina itself
What do I get: Apparently a free welcome pack, you will use a QR code to get access to a locker in the city
Health insurance? Required apparently
Co-working: First month free with co-working partners?
Do I have to pay tax?: No
Based off a meeting held today with government. Will update if I get more details.
oscar3000
2020-11-18 17:55
Thanks so much for sharing it.
It seems that e-residency became a ?new standard /trend? worldwide.
Everything become digital also money and tax on income sooner than later will disappear.
interesting times ahead (welcome to Aquarius era )
mb
2020-11-18 17:57
@burrup.lambert Thanks for sharing. Do you foresee any potential 'tax traps'? E.g. no tax on income, but maybe at some point you're 'leaving' and you pay some tax? Any precedence with that in Argentina? Just curious.
burrup.lambert
2020-11-18 18:01
Honestly I'd be surprised if it even gets released being Argentina. I cannot foresee any "tax traps". No one pays taxes here as it is, let alone them attempting to tax digital nomads.
People overstay their tourist visas here all the time. You can stay illegally for 2 years and the only thing that happens is you have to pay a small fee at the airport when you leave. The very next day you could fly back in again without issue.
mb
2020-11-18 18:25
Oh wow, I guess I didn't know anything about things in practice :slightly_smiling_face:
mb
2020-11-18 18:26
So in that sense, Argentina could be a good option to establish a residency on paper? E.g. vs. Dubai/Panama?
burrup.lambert
2020-11-18 20:31
Technically Argentina taxes based on worldwide income. It is not a place you would want to establish tax residency. Though as I said, in practice it is different...
mb
2020-11-18 20:40
Hmm I see. Are you currently in Argentina?
simon
2020-11-18 20:47
This sounds great, thanks for sharing! Pretty strange, the locker thing!
buynps.org
2020-11-18 20:48
Thanks for sharing
mb
2020-11-18 21:06
I'd only do it, just because of the locker @simon :sweat_smile:
richkuai
2020-11-19 09:40
Thanks for the reply @simon I ended up going for Portuguese NHR
jason
2020-11-19 15:49
About to start gathering paperwork for the Panama / Friendly Nations Visa, figure I might as well try and get it before they change the program and potentially make it harder.
bountybairn
2020-11-19 17:40
1. it was possible
2. favourable local taxes, can operate anywhere in EU and pay myself 0% tax dividends
3. Good weather
4. Change of pace from living in the UK
5. Opens possibility of being an EU citizen beyond brexit)
There wasn't a main singular reason really, I just decided to do it and moved 6 weeks later. Its going well, maybe will move on somewhere end of next year but happy to to stay here a year at least with some trips whilst I am here
mb
2020-11-19 17:47
Curious how that goes for you. Do you have an expected timeline on this?
maxsuur
2020-11-19 20:28
Seemingly soon the program will be over. I have read it somewhere.
omocha_10
2020-11-20 07:58
Interesting....
Did any ?official? source publish something about it?
jason
2020-11-20 14:08
@mb I would like to get it done within the next 6 months.
jason
2020-11-20 14:08
@maxsuur Yes, I keep hearing the same, that changes are being proposed, but as of now it's still available according to the law firm I'm talking too, but even they don't seem to have good information
mb
2020-11-20 16:38
@jason What is the total costs for doing this? You have to physically visit at least once, and then only once every 3 years, or?
mescos
2020-11-20 16:48
FYI - here?s a facebook live about the new Panama residency program. The immigration lawyer that helped write the law is being interviewed. They also talk about how/when Friendly Nations Visa is changing. Worth watching for those interested in getting residency in a territorial tax country: https://www.facebook.com/Panamaequityrealestate/videos/688318935386667
jason
2020-11-20 17:02
I'm guessing it's going to cost me roughly about 10k.. you have to visit twice to establish residency, and then once every couple of years to maintain it.
jason
2020-11-20 17:03
It looks livable, and is a hell of a lot cheaper than the Cayman Islands
jason
2020-11-20 17:04
I'm still a US resident / citizen at the moment, just trying to ease my way out the door and I'm thinking Panama would be great since it's in a US timezone
mb
2020-11-20 17:07
Sure. I imagine travel (depending where you are in the US) will be relatively easy.
jason
2020-11-20 17:16
That's the plan, my kids are both homeschooled, so in theory we could bounce back and forth pretty easily.
jason
2020-11-20 17:16
But how does the saying go, "God laughs at your plans" :smiley:
mb
2020-11-20 17:21
Well, not sure about God laughing, but sure I think that's a brave decision not everyone can or wants to do. Have homeschooled kids myself and can related a bit I guess :slightly_smiling_face:
mb
2020-11-20 17:21
Are you paying for some type of official online education, or?
jason
2020-11-20 17:28
yes, but we are switching to http://k12.com which is basically taxpayer funded "public" school at home..
mb
2020-11-20 18:56
That's pretty cool! So the material the kids get is the same as if they were in school right?
burrup.lambert
2020-11-20 19:40
I'm in a WhatsApp group with the guy who is pioneering it. He met with the government the other day to organise the details.
mb
2020-11-20 20:34
Very much interested to hear details on this.
buynps.org
2020-11-20 20:40
Interested too
oscar3000
2020-11-20 20:47
Another Good news!
Argentina open border to international flight (no quarantine) from December 15th
La ciudad de Buenos Aires anunci� la reapertura del turismo nacional e internacional sin cuarentena pero con testeos - Infobae https://www.infobae.com/sociedad/2020/11/20/la-ciudad-de-buenos-aires-anuncio-la-reapertura-del-turismo-nacional-e-internacional-sin-cuarentena-pero-con-testeos/
jason
2020-11-20 21:01
yeah, they even ship you a laptop and science supplies, which you return at the end of the year.
jason
2020-11-20 21:02
we were doing something like this even before the pandemic, which has been great, other than the social distancing out in the real world, nothing with their schooling changed.
jason
2020-11-20 21:02
i have one child in http://k12.com and the other one will switch next year from an online private school
omocha_10
2020-11-20 22:13
Which man is pioneering it? SS are his initials?
burrup.lambert
2020-11-20 23:35
TG I think? I've never met him in person
jason
2020-11-22 23:23
That was useful! Thanks for sharing.
benjamin
2020-11-25 13:03
Free 5 Year Thailand Elite visa when purchasing 10m baht (approx 330k USD) in real estate. Not sure the major benefit of this if you can get a 1yr renewable investment visa for the same price. There are likely differences in the fine print.
https://bangkokherald.com/business/thailand-to-give-free-5-year-visas-to-luxury-condo-buyers/
danz
2020-11-25 15:55
Interesting, but I would say not that interesting either, if it would be 10 years it would have been imo
taylorwalkerllc
2020-11-26 02:06
I am also seeing quite a risk of a market collapse in real estate in Thailand for the years to come. You can also do the non-O Volunteer Visa for 1,3 years where you dont need to report anything to authorities.
yaron.been
2020-11-26 05:18
@taylorwalkerllc
I've done some reading about the non-O volunteer visa, seems interesting.
Do you know anybody who used this?
Wondering if it's as good as it seems
noahlibbyhaines
2020-11-26 16:20
Anybody here have experience getting temporary residency in Mexico? I applied at the consulate in Mexico, but was rejected because my passport had no stamps showing I'd been to Mexico. I easily met all of the requirements listed on the consulate website. Their recommendation was to go to Mexico for 5-6 months and, get proof of an apartment or something there, then reapply.
The whole thing was bizarre, so I could use guidance if anyone has been through it.
mikeseo
2020-11-26 19:17
did you drive across the border? if so, you gotta park and walk in and ask for a stamp
danz
2020-11-28 10:34
@noahlibbyhaines I got it, you need to apply outside of Mexico for temporary residence first.
danz
2020-11-28 10:34
Sent me a pm if you got more questions, I can share my experience
michael
2020-11-29 13:59
This TE visa has been around for a while, buy an over inflated price for a condo and get a TE visa.
michael
2020-11-29 13:59
Yes, had friends who did the volunteer visa.
alessio.zazzarini
2020-12-01 11:39
Thanks for sharing Paul C
alessio.zazzarini
2020-12-01 11:39
I appreciate your explanation
prashantpawar
2020-12-09 00:01
Which consulate was it? How did you apply at a ?Mexican consulate in Mexico? (which doesn?t make sense) and yet you had no stamps showing that you?d been to Mexico?
noahlibbyhaines
2020-12-09 00:03
Sorry, typo. I applied in NYC.
benjamin
2020-12-15 15:31
Thailand BOI program proposed change to allow freelancers and tech entrepreneurs able to get a two year visa in Thailand and able to work without work permit.
This could be great for some people if it goes through.
You could work in Thailand for the minimum 50k baht per month and work outside of the country to earn your main income and have that money tax free.
https://www.bangkokpost.com/business/2034183/boi-spots-opportunities-amid-disruption
mb
2020-12-16 11:32
Anyone has experience with tax residency in Romania? I'm currently considering it, over Bulgaria/Cyprus. Specifically the micro-company (3% tax on revenue (not profit) up to 1 million Euro or 1% with one employee (can be yourself, min. salary is ~470 euro). Also quite low tax (capital gains 10% and PIT also 10%). And IT employees (if conditions met) are exempt from payroll tax (https://accace.com/exclusion-of-it-employees-from-income-payroll-tax-in-romania/)
And renting an appt. is cheap and services not as expensive as say, Cyprus.
mb
2020-12-16 11:35
> All type of business. Before there was a rule that only 20%
> of the income could come from consultancy. This rule is
> abolished.
taylorwalkerllc
2020-12-22 12:31
Hey guys I came on STV back to Thailand 23.11.2020 and I applied for Elite because a Visa Agent in Chiang Mai that I got recommended told me that I can switch once I am in Thailand.
Now I called Elite Visa hotline to make an appointment for that and they said I can not switch STV to Elite.
But another agency told me I can switch STV to non-O, with them they are a private company.
But today, Elite told me I could not cancel non-O and then switch to Elite because its against the immigration rules to change STV to non-O.
Any idea how I can change my STV visa to Elite? I am already approved member and paid. For now it seems I can only renew my STV three times and hope for the best
benjamin
2020-12-22 14:31
STV lasts for 9months (including the renewals) doesn't it? If it's not possible to switch visas while within the country at least you have 9 months for the borders to hopefully be easier for you to do a quick border run to activate the elite visa.
That being said, switching visas is definitely a "who you know" type of situation, so talking to as many agents as possible is a smart idea.
I know a lady who is married to an immigration officer who will do stamps for 20k baht but it's probably not something you should mess with when activating your elite visa.
I myself had no problems activating an elite visa while on a visa exemption and overstay through legit channels.
Maybe just visiting the main elite office in Bangkok and speaking with them in person is a good move.
But also, I've visited them before and received two different conflicting advice depending on the staff member I spoke to. It's all part of the fun of living in the land of smiles.
taylorwalkerllc
2020-12-23 15:01
Yes you are totally right, I got 9 months left to make a change or to fix this but its a bit annoying. Yes switching the visa actually is possible etc. but Elite already knows my case as I called them so they wont accept my change "under the counter" with the agency.
ivan.lakatos
2020-12-25 04:52
Where did you apply for the STV ? I'm currently in Laos and since I'm not a resident here and stuck due to covid I'm not sure if I can apply for the STV .
taylorwalkerllc
2020-12-25 06:59
I was in China and i am not Chinese Citizen so it depends on the local embassy.
ivan.lakatos
2020-12-26 08:50
But did you have a resident permit for China based on working or a business visa ?
jason
2020-12-27 18:02
I've got roughly 50% of the documents I need to apply for Panamanian residency (vital records + apostilles), after this I think I am just going to order 3 copies of every vital record and get them all apostilled and keep them on file, waiting 3 months to collect all this paperwork is painful.
taylorwalkerllc
2020-12-28 11:00
Residence Permit (Student Visa)
buynps.org
2020-12-28 14:22
half way there :slightly_smiling_face:
jason
2020-12-29 00:08
60% as of today, but it sounds like the Apostille's from the US department of state could take months =/
ivan.lakatos
2020-12-29 02:45
Right. Thanks
burrup.lambert
2020-12-31 02:13
Argentina Digital Nomad Visa info...
jonathan.galovan
2021-01-06 11:21
Hey, I am looking into Protugals NHR program and was just reading @simon 's blog post: https://www.freedomsurfer.com/portugal-nhr/
I just want to make sure I understood it right.
When it comes to qualifying as a residency in Portugal it says that one has to live there 183 days or maintain a permanent home there.
What does permanent home mean? Does it mean I just need an address? Or do I actually have to live there all year round?
If I have to spend 183 days in Portugal to qualify for a residency, does that mean I have to pay tax there during those 183 days? My main income is operating a UK LLP and an Estonian Company, and also Crypto.
My plan is not to spend time in Portugal. I simply just have to set down my residency flag somewhere, and then spend about 6 months in southern Spain, and then 6 months elsewhere.
I'm also considering Andorra but don't want to be locked up there for 6 months every year...
Cheers,
Jon
vinodgn0088
2021-01-06 13:50
@jonathan.galovan, Cyprus seems to be much better option for you. If you become Portugal NHR and tax resident in Portugal, then you will be also required to prove that your income is getting taxed in some other country or the DTAA with the source country states that only the source country has the right to tax you.
jonathan.galovan
2021-01-06 14:26
Ooh, interesting. Did not know that... Thanks @vinodgn0088. Just don't have to have to hang out on Cyprus...
jonathan.galovan
2021-01-06 15:23
@vinodgn0088 are you sure about this? So what is then the whole point with the NHR program? It makes no sense if you have to be taxed somewhere else.. @simon do you have any clarity in this?
simon
2021-01-06 17:13
@jonathan.galovan NHR doesn?t make much sense if you will work / spend significant time in Portugal. It makes sense if you derive foreign sourced income as that is generally exempt (for example, if you have an Estonian company you will usually pay no personal income tax in Portugal when receiving dividends). It also makes sense with crypto as it?s possible to trade tax-free.
A permanent home is an address available to you read-round. It can be a room you rent in a house, for example, or a condo, villa etc. It should not be a virtual address or PO box
oscar3000
2021-01-06 17:16
i think that if you are owing Estonian company. As Portugal NHR your income is covered from tax deceleration. Correct me if I?m wrong
jonathan.galovan
2021-01-06 17:21
Great, I have an Estonian company and will not spend time in Portugal. Thanks @simon
marziovit
2021-01-06 17:24
BTW soon there will be another player in the e-residency space
marziovit
2021-01-06 17:24
mb
2021-01-06 17:47
@simon with NHR (Portugal) and trading crypto: I was under the impression that if you trade more than a 'hobby' that it can be seen as a professional activity and thus you'd have to pay tax on it. Similar to Slovenia.
mb
2021-01-06 17:48
If you do sporadic trades etc. likely fine. But it's up to interpretation of the IRS..
mb
2021-01-06 17:48
But curious if anyone has a different experience with this.
mb
2021-01-06 17:49
There are creative ways perhaps to, deposit say 100 ETH (~110K USD) on Compound and take a collateral loan of 50K and invest in ETH then get any profits for free....
mb
2021-01-06 17:50
But day trading might be seen as professional activity perhaps.
mb
2021-01-06 17:51
Although on a low surface level I read it's fine:
> Portugal
> Portugal has released a statement that makes buying/selling/trading cryptocurrencies completely tax-free. It is so far the only European country to have taken such a stance. The statement follows Portugal?s closed tax system where only the items explicitly listed can be taxed such as stocks, bonds etc. This makes Portugal a lucrative country for crypto traders.
https://insights.deribit.com/industry/cryptocurrency-tax-laws-around-the-world/
mb
2021-01-06 17:53
mb
2021-01-06 17:54
Question is, how many trades makes you a day trader? 1 trade a day = day trader? Heh.
stolzlos
2021-01-06 17:57
https://insights.deribit.com/industry/cryptocurrency-tax-laws-around-the-world/
I just checked Germany. It is not capital gains. It is personal income tax. Certainly incorrect. Beware.
simon
2021-01-06 18:15
This guide covers the situation in details, for OECD countries. See page 27 for Portugal.
sergiy.shlykov
2021-01-06 20:43
Do i understand correctly that if I 1)have NHR, 2) i spend exactly 6mo in PT(to qualify for tax residency and NHR) and 3) do not pay out salary and only pay out myself dividends from a UK LLP, i have to pay tax only on the dividends/distributions paid to me when i am physically in PT during the 6 mo i?m there?
simon
2021-01-06 21:21
You only need a permanent address in Portugal, you don?t need to spend six months there.
With an LLP you should pay yourself a salary when in Portugal (to take advantage of the 20% rate, assuming your profession is on the list) and use a holding company (that would be added as partner) to enable the payment of dividends when not in Portugal (as those are easy to exempt).
sergiy.shlykov
2021-01-06 21:34
Being a non-EU citizen, I want to leverage this into getting PT citizenship, so 6 mo stay is a residence permit requirement.
The profession is on the list. Thanks for confirming, this is exactly what i thought. Does the holding company have to be at non-blacklisted country with a DTA? Panama and HK look like the best options. Otherwise a US LLC should be fine, unless they care about the pass-through nature of it.
simon
2021-01-06 21:52
It should definitely be a non-blacklisted country, otherwise it?ll trigger CFC rules. As for using a US LLC, it would work if the LLC elects to be taxed as a C-Corp.
sergiy.shlykov
2021-01-06 22:00
Thanks a bunch, Simon! :muscle: i will pay 20% on 6 mo of salary and pay the rest as a dividend from a Panama/HK company. Now that i?m thinking about it one thing is unclear: Does DTA with a non-blacklisted country(which is not in the EU) serve as a safeguard against triggering CFC status? I am going to be a resident for tax purposes.
simon
2021-01-06 22:08
Under NHR it should, yes (provided it isn?t with a blacklisted country).
d.mikocionis
2021-01-06 22:52
Has anyone tried applying for a non-resident visa in Portugal? My gf is from the US and we'd like to move to Europe & Portugal seems to be the easiest option
vinodgn0088
2021-01-07 02:32
As long as the money stays within Estonian company's bank account and he manages to get a corporate tax residency certificate from Estonia, his funds can remain tax free for some time.
vinodgn0088
2021-01-07 02:38
@jonathan.galovan, NHR is mainly targeted towards passive income earners.
vinodgn0088
2021-01-07 02:42
There is no transparent entity concept in Portugal. If the whole UK LLP is owned by same person ( direct or indirect) and it is managed from Portugal; then most likely the UK LLP will face Corporate taxes and dividend taxes in Portugal. Else if the tax man seems it as of a self-employment, then Personal Income taxes and Social security taxes will apply.
vinodgn0088
2021-01-07 02:46
@*https://app.slack.com/team/U018NGFGW3D, If you are a day trader or someone who sell/buy frequently then this won't be treated as investing. Let it be Crypto or Stocks. In this situation the income will be treated as business income. Also, in final the income classification will totally depend on the IRS officer who checks you file.*
vinodgn0088
2021-01-07 02:53
@simon, On page 27 it is shown that * Portugal (If not main activity). I think the exemption is given only if the frequency of trades are very low, there is another main income/full time job and the investment is sold only after a long period (like 6 months+) . I don't think a day trader or frequent buy/sell person is eligible for exemption as it will be classified as a self-employed business income. In Portugal it is alright to have a self-employment in parallel with full time job as long as it is not against the interests of the employer.
simon
2021-01-07 03:16
@vinodgn0088 That?s right, hence the strategy to pay tax in Portugal when present in the country and to use a holding company to ?transform? profits into dividends when not in Portugal so that the foreign-sourced portion of the income can be exempt in Portugal. Normally this wouldn?t work (as the holding company would be deemed a CFC) but under NHR such income is exempt.
vinodgn0088
2021-01-07 04:39
@simon, Under NHR there is no change in PE and CFC rules. "Jon" need to prove that his holding/operating company is tax resident in another country ( tax residency certificate as proof along with proper substance) and the dividends he received from the company is already taxed in the other country or as per DTAA it can be taxed only in other country. Also, Portuguese tax department is quite aggressive when it comes to tax audit.
simon
2021-01-07 06:06
@vinodgn0088 PE rules apply but only for the portion of the income generated in Portugal (the rest of the income will be taxed in the country of registration, Estonia in this case, or wherever work is performed if reported).
An Estonian company is nearly always deemed an Estonian tax resident so getting a certificate won?t be an issue (there?s no substance requirement and the process is simple, in my experience they do not even ask for supporting documentation).
tmclayson
2021-01-07 09:37
Is an Estonian company deemed tax resident in Estonia even if it is owned and operated from another country (in my case, Germany) the majority of the year? I need to remain in Germany currently, and not sure if I need to file a German tax return for my Estonian company and pay German corporate taxes.
td
2021-01-09 15:04
@tmclayson yes you have to, the german Finanzamt will see your OU as german GmbH so you have to do everything twice in both countries which sucks
omocha_10
2021-01-11 03:45
There is an account of an USA woman who moved to Portugal and could help... ?vegan in Portugal? search in ig.
oscar3000
2021-01-11 16:43
Anyone could explain how crypto tax exemption for Portugal NHR plays out?
For example:
If you are transferring 50ETH from your private wallet to Wirex or Coinbase account which is linked to Portugal address; then to send EUR Portuguese Bank account?
This action to be tax exception automatically or any declaration should be made?
In other words, how tax exemption for crypto profits is coming to action for NHR residents?
mb
2021-01-11 17:24
I think the first question would probably be: How was the 50 ETH acquired?
mb
2021-01-11 17:24
50 ETH -> to EUR in itself is not taxable AFAIK. But details matter obviously. But others might have better answers.
2021-01-11 17:27
This message was deleted.
oscar3000
2021-01-11 17:35
Why 50ETH isn't taxable?
If I bought 50 ETH from my savings 1 year ago and withdrawn to private wallet, alternatively received ETH from few people and saved in private wallet address; than moved to coinbase - did some trade > take profit in EUR and send to Portugal bank account (being NHR) ... a bit confusing I'd say how to proof source of money and gains. (Crypto can't be treated as Fiat, as it's never stays / flows under the "old system")
bigworld
2021-01-11 19:10
If you have never paid taxes in Spain you have nothing to report. if you have ever engaged with the taxman (Hacienda) you better fill in Modelo 030 to advise the taxman that you are gone.
vinodgn0088
2021-01-14 18:15
@https://app.slack.com/team/U01BULFBZRP, Cut your ties with Spain first, Complete the formalities to de-register you from the records on local municipality and tax department. Also, for a safety side, convert your ETH to EUR only after 183days of stays in Portugal so that you will get more weightage to your tax residency claim in Portugal. St present your 50 ETH is in investment mode ( Like Unrealized capital gain). The tax event only occurs when the profit is realized and the taxation happens where you are tax resident.
oscar3000
2021-01-16 16:05
*Some thoughts to sit with.*
? :one: We are witnessing domino effect of governments around the world that are resigning (including Estonia), yet very critical weeks for the USA.
? :two: USD is loosing power - specifically against BTC
? :three: American debt is ATH and amount they printed out of thin air during 2020 is incredible. also China helps USD devaluation - minting more and more stable coins. (Tether/ USDT / DAI)
:tada:Bitcoin (crypto in general) isn't just a tool to gain USD but a tool for FREEDOM - so businesses can sell digital products peer to peer without 3rd party (money of the people) and as more and more people to accept it - we could be free from "old economy system".
> _I started accepting BTC 1 year ago, for example for sell of $300; just few months ago customer sent around 0.025BTC , now I get 300% less around 0.0088 BTC._
> _Consumers are thankful that due to accepting BTC needed to buy for first time and now they gained much more for rest amount converted for themselves. (BTW, I expect BTC to increase to around 70k until June 2021)_
:large_blue_circle: We are digital nomads. We understand better than other how mobility, no physical attachments and most importantly the value of Freedom.
_*To my spiritual abilities:*_
:red_circle: If 2020 was "shut down" ; 2021 is the "collapse" (old structure)
However, I understand that we are in a transition period, thus some amount / activities should be declared and despite currency devaluing; I can't ignore the process of "dying dinosaur" and wonder why & how to build on/ with it?!
_Last days, as being ready to apply for Portugal NHR , now I'm stuck due to national lockdown, I also was ready to open Estonian company; but *http://Estonia%20scandal:%20https://apnews.com/article/international-news-police-estonia-bc8913bc4676c6bff25d69d098a454dd*http://Estonia%20scandal:%20https://apnews.com/article/international-news-police-estonia-bc8913bc4676c6bff25d69d098a454dd (Scandal) - I neither sure to go forward (feels like before worldwide civil revolution maybe 3WW)._
Estonia Scandal: https://apnews.com/article/international-news-police-estonia-bc8913bc4676c6bff25d69d098a454dd
? *MY QUESTIONS:*
If you knew that a war / revolution is coming; How would you manage your decisions about residency / open a company?
Which countries seem to be better opportunity than Estonia?
I appreciate any thought / take from the points mentioned above. :raised_hands:
simon
2021-01-16 16:21
@oscar3000 Government debt isn?t the same as personal debt, a lot of it is owed to the FR / central banks and doesn?t have to be repaid. There also seems to be no limit to how much can be borrowed as long as inflation is kept in check. In fact, with interest rates as low as they are it would be crazy for governments not to borrow more (especially if rates go / stay negative).
mohd
2021-01-16 16:23
Great thoughts @oscar3000, while I agree some form of digital currency might surface in the future and be acceptable, I don?t think the current crypto currencies will be the answer. If one understands the tech behind them, you see why they won?t be. The reason fiat currencies work is people agreed on their value, and there is a way of regulating them. While the idea of decentralised currency is nice (think gold), the current implementations of digital currencies carry so much risk making them not work for most people. Plus, imagine what will happen when the crypto algos are broken (it?s a question of when, not if)!
simon
2021-01-16 16:26
@mohd There?s also the issue of taxation. Taxes can only be paid in fiat, and usually only in the national currency of the country where the taxes are paid. As long as that remains true, fiat currencies (or digital versions of them) will remain the dominant currencies.
mohd
2021-01-16 16:28
I didn?t even think of taxes @simon, spot on!
oscar3000
2021-01-16 16:39
I respect and understand your answers @simon and @mohd but both biased that current world system (governments & economy) will continue forever.. Sorry can't see this lasting the way we know it.
We are in historic times - 500 years ago Churches charged and managed the people.. and its changed along the history over and over.
Believe in crypto or not - this is tool that give power for the people!!
When first computer created or internet came to the world (not many years ago) - most people neither understood what to do with it.. today the internet helps people to do business but most importantly to teach each other against the "fake news" (more people watch Youtube than CNN ..ext)
---
This is not anymore people against the system - these are major countries against the USD dominancy (China, Russia and IRAN and some more) ..
Even I understand the reality/ the system we are working with now; the signs and information I get from spirit are indicating time to prepare for system collapse. and I was asking what would you do .. in case of.. ?!
mohd
2021-01-16 16:43
@oscar3000, I didn?t say the current system will last as is forever, as more countries like China and others consolidate more power, there will be a push towards changing the USD dominance for sure. My comments were mainly directed at crypto, I don?t think it will be the answer. In terms of what to do, I would buy physical assets in multiple locations, people will always want to live in a house with a roof over their heads and will pay in whatever currency people use at the time! You can think along the same lines?
burrup.lambert
2021-01-16 17:38
I just read the Estonian article. Sorry to say but *all governments do that.* It's called grey-gifting. If you want to read a decent book about it specific to Australia have a read of Game of Mates.
https://www.amazon.com.au/Game-Mates-favours-bleed-nation-ebook/dp/B06Y1WF2BC/ref=sr_1_1?dchild=1&keywords=game+of+mates&qid=1610818551&sr=8-1
oscar3000
2021-01-16 17:42
Interesting book.
But current corruption of governments are out of the chart. Now more and more people get awake to the non acceptable acts (including massive social media censure and Trump shut down)
To my understanding, as more people will stop to trust their own government and system the revolution to begin through finding ways out skipping the ?big brother?.
Also the Roman Empire exposed to be corrupt and disappeared from the world
mb
2021-01-16 19:06
For some countries crypto is the only way to escape sanctions or to have a more stable currency than their local one. That is already reality. As for taxes, perhaps it's something which will come with time: https://www.bloomberg.com/news/articles/2020-09-03/swiss-canton-takes-taxes-in-bitcoin-as-crypto-goes-mainstream
mb
2021-01-16 19:08
Ultimately it comes down to the people. If a group of people decide they want to pay each other with tokens for services, likely because of certain benefits, who's to stop them?
jason
2021-01-16 20:18
Crypto is the future, no nation state is going to introduce any type of new monetary platform that is NOT based on crypto. That doesn't mean all current digital assets are without software issues and have a positive future, but the genie is going out of the bottle. All future currencies (including government issued fiat) will be done on a cryptographic platform of some kind.
jason
2021-01-16 20:18
If you can figure out which crypto's are built to last and can survive, then you stand to make a modest fortune..
oscar3000
2021-01-16 21:17
Thanks @mb and @jason :slightly_smiling_face:
So as realizing that Crypto is the future how to see / act with current regulations (residency, taxation)?
Even it's possible that the transitional period can last until 2024-2027..
* the advantage of Crypto is to be anonymous (peer to peer); once more people and businesses to adapt such technology (having private wallet - "be your own bank") aka the power goes back to the people - government loose control is has with Fiat..
:innocent:
td
2021-01-16 21:39
@simon especially for paying taxes a transparent blockchain based cryptocurrency is the dream of every tax office/government, you could see everything even years later, @mohd the underlying crypto algorithm can be updated with modern implementations, so i dont think its a "when" issue
mohd
2021-01-16 21:56
@jason and @td, thanks for your comments. Both confirm exactly my point, the movement to a digital/decentralised currency is what is desired, the current implementations (crypto/blockchain) are one way of doing that. Creating value out of nothing based on someone?s algos without having worldwide consensus is unsustainable. Long before crypto/blockchain, the idea of a digital currency could have been implemented in many different ways, what blockchain brought is just a visible decentralised ledger which could have been implemented in many different ways. If you are in tech, you understand how underwhelming the whole blockchain implementation for solving the problem is.
mb
2021-01-16 22:22
I think the power of a protocol layer like Ethereum, is the fact that you can bridge liquidity. Both on- or offchain. E.g. for example tokenizing real estate. Imagine tokenizing a building by minting 1000 tokens, pegging them to the real estate asset, then plugging it to the 'worldwide' liquidity of blockchains.
Now port that logic to any current existing platform: Spotify, Youtube, you name it.
mb
2021-01-16 22:24
My point being, it's not just the currency aspect, but the bridging of liquidity and tokenizing things in this world.
mb
2021-01-16 22:25
And allowing for a direct relation between B2C, artist to fan, etc
jason
2021-01-16 22:38
@mohd I disagree with nearly all your points and don't see my comments confirming any of your statements. Prior to bitcoin nobody had figured out how to do a decentralized consensus algorithm to solve the Byzantine generals problem. Other's had come up with the building blocks, hashcash, etc, but bitcoin was the first to put everything together, and things have continued to improve hence. Some people assume that since crypto is just code, that you can copy-paste create these and they are all inherently worthless, and that's simply not true. If you think about twitter, it's a rather trivial idea and implementation, and any decent web developer could build a twitter clone in short order, but what they can't build is the social network of users that trust it. BTC, ETH, etc these networks are strong and growing and they will only go up from here. I'm not here to be disagreeable or downplay your thesis, but I'm just presenting my own thoughts on this and each must invest as they see fit.
clr
2021-01-17 02:26
I would say that part of the answer lies on agorism. Disengaging from the system as much as you can, the same way you would stay away from a collapsing building.
clr
2021-01-17 02:33
I believe the fact that crypto currencies, and Bitcoin in particular are an ?underwhelming? implementation is precisely what makes it work so well. I don?t hear anybody saying that TCP/IP has failed because it?s ?underwhelming?. It has succeeded precisely because of that: being a simple and elegant solution.
imatfaal
2021-01-18 09:53
Here's a useful guide to getting residency in Tunisia, North Africa, by setting up a company. Costs about 200 Dinars (EUR60) and takes a few weeks of work if you do it alone. Or you can pay a lawyer to do it for you for about EUR600. Depending on nature of business they offer 100% tax breaks for up to 4 years. https://youtu.be/GRT5fc0Fm4M
imatfaal
2021-01-18 09:55
I recommend Hajer Hmila if you want a lawyer to do it for you. She speaks perfect English: https://tn.linkedin.com/public-profile/in/hajerhmilamrad
lvasc
2021-01-18 21:03
Do you guys knows about the immigration by companion formation in Romania? Is really possible? Just randomly found it and looks quite interesting
benjamin
2021-01-20 16:27
@jase Why did you get a Taiwan gold card? Is it true while on a gold card you can basically do 183+ days in Taiwan and get taxed approx $20k USD on a $3m TWD salary. Then spend the other half of the year outside the country while having foreign income exempt from tax?
jase
2021-01-20 16:50
I haven't yet @benjamin. Just an option to allow travel in future as Taiwan is generally considered to be "clean".
benjamin
2021-01-20 17:28
@jase Ah okay, makes sense. I think it's a good option. The gold card seems relatively straightforward to get as well
jase
2021-01-20 18:38
@benjamin yep exactly. To vaguely answer your earlier question I have heard of a few expats doing as you suggested but I have zero experience with it sorry. Seems to be a good place to bank too.
brent
2021-01-20 19:04
I ended up going down the representative office route for Taiwan.... I now have a residence visa which entitles me to an ARC... however, I do need to better structure my affairs as I really don't want to be paying the high rate of tax in Taiwan! :wink:
koshis
2021-01-21 13:39
@benjamin @jase what is the cost for this Gold Card, first time I'm hearing about it. Is it like Taiwan's version of thailand's Elite visa?
jase
2021-01-21 14:03
jonathan.galovan
2021-01-21 20:10
I am a bit confused when it comes to the NHR.
1. Do I have to declare all the business income in Portugal? Or just my personal worldwide income?
2. What happens if I pay myself a salary from my Estonian company (or UK LLP), but only when I'm NOT in Portugal. And then whenever I'm in Portugal I just don't do any personal payouts... Would this not work or is it completely out there? Or do I have to be paid via dividends?
jonathan.galovan
2021-01-21 20:51
koshis
2021-01-23 00:09
Thanks @jase
hello888
2021-01-23 22:06
If 2020 showed us something is that people are extremely easy to manipulate/brainwash, they just need to push the narrative that "crypto" = "Money laundry" / "illegal business" / "bad!" , and they will keep the average person away from it. Plus it will give them a further excuse to further regulate it (i.e. prohibiting institutional investors to hold assets in Crypto, prohibiting international export/import to be paid in crypto, etc.
Governments will protect their scam central bank systems at whatever cost necessary.
mb
2021-01-24 06:10
Personally the most cringe was seeing Lagarde talk about it:
mb
2021-01-24 06:12
Calling it 'funny business'. Nevermind her own legal trouble with 'funny business'.
je
2021-01-27 21:31
Regarding the 183 day rule.. How likely is it that a country such as, for instance, Thailand would demand that I pay taxes there if I would spend more than 183 days there in a year? Assuming I have non-dom tax residency in Cyprus and using the 60 day rule?
je
2021-01-27 21:32
And/or how likely is it that Cyprus would note that I spent 183+ days in another country, and say I was not eligible for tax residency in Cyprus & not take my money?
je
2021-01-27 21:35
I guess another thing to take into account might be whether my original home country could claim that I don't qualify for tax-residency in Cyprus according to the 60 day rule due to spending 183+ days in another country / in Thailand (in order to argue that I should be paying taxes in my original home country instead), but in that case, couldn't I rightfully claim that I should count as a tax-resident in Thailand for that year, and in that case I shouldn't be paying tax for income not remitted into Thailand the same calendar year anyway?
je
2021-01-27 21:36
Does anyone have any real-world examples/experience/references of these types of issues and how things actually work in practice regarding this?
benjamin
2021-01-28 00:30
@je If you spend 180 days in Thailand you'll be a tax resident. If you don't wish to get a tax ID and just act like a tourist, then your risk is very very low. That being said, if they get strict in 5 years time and challenge you then you'll lose because you were a tax resident and most likely working from your laptop or making management decisions while inside the country which is local source taxable income.
My advice would be to create a tax residency somewhere (eg Cyprus) and pay a small amount of tax there. While making sure not to become tax resident anywhere else.
Obv, if you're making 50k per year vs 50m per year you can consider your own risk profile on how strict you want to be to stay within the law.
je
2021-01-28 10:20
@benjamin Yeah, I will be establishing tax residency in Cyprus, and I will pay tax there.
je
2021-01-28 17:03
Probably not worth risking staying anywhere more than 4-5 months per year max, even if it would probably be possible in practice.
arthur
2021-02-01 13:26
Yo man, are you tax resident in Cyprus atm? And how did you get the certificate?
rjmarsden
2021-02-02 20:39
hi all, I haven't been on here for ages so I hope everyone is good and coping with the pandemic as best they can. We are finally in a position to consider moving from the UK and are looking at New Zealand. The tax exemption for new residents is just too good not to take a serious look at. It is also a beautiful looking place with plenty of coastlines (we love the beach). Has anyone moved to New Zealand (or know someone who has), or used the tax exemption for new residents there?
brent
2021-02-02 20:41
The tax exemption also works for returning residents/citizens too. There are some rules around what income can qualify for this, but there are always ways to structure things.
brent
2021-02-02 20:42
The only issue you'll have at the moment is getting in! Unfortunately it's pretty difficult, thanks to the 'rona...
rjmarsden
2021-02-03 11:26
Thanks @brent :+1: you're right it will be a few months before we can even visit :crossed_fingers:
prykhodko.av
2021-02-05 10:50
Hi Everybody, I am British looking to apply for Czeck residency, post Brexit, in order to secure EU travel without 90 days limit....can someone recommend Czech company who can help with residence paperwork? Thank you
prykhodko.av
2021-02-05 11:17
Also do you know if there are any ?shortcuts? for U.K. citizens to gain EU residency post Brexit easily? Thank you
ladislasmaurice
2021-02-06 06:21
Check these guys out: https://movetoprague.com/zivno-visa-czech-republic/
michael
2021-02-08 14:15
Interesting.
michael
2021-02-08 14:54
Really like Taiwan!
jason
2021-02-09 21:42
My quest to get Panamanian residency continues, just fired off all the KYC documents to the lawyers to get the bank account + IBC setup. :crossed_fingers:
ben659
2021-02-09 22:16
@jason We should arrange a meetup of people in Panama. @alex720 is also here, he runs a game dev company
jason
2021-02-09 22:18
That would be awesome! Didn't realize anyone else was there. I'm still in the US at present, not sure how long this is going to take.
ben659
2021-02-09 22:27
Cool, if you shout via Telegram we can get a group going on
ben659
2021-02-09 22:27
@bcbweb
mb
2021-02-10 08:39
Hey guys, interested to learn about what is required to setup the Panamanian residency. @jason which lawyer did you use?
ambroise.debret
2021-02-11 01:43
Thanks for the clarifications.
@simon a questions to follow-up : with the setup I did with you (LLP with me + Holding), how do you separate which is salaray and which is dividends ? Would I need another transferwise with the holding to pay myself dividends ?
Cc : @arthurmarie1991
arthurmarie1991
2021-02-11 01:44
has joined #residency
simon
2021-02-11 04:17
@ambroise.debret The LTD (second partner) isn?t used in this setup, it?s only there to act as second partner. As such, it pays no dividends. The LLP pays out profits as distributions, not salary payments, unless you actually pay yourself a salary from it (with an employment contract etc).
jason
2021-02-12 02:06
I emailed about three different firms and they are the only ones that that respond quickly, us annoying Americans don't like waiting 2 weeks for a reply :rolling_on_the_floor_laughing:
brent
2021-02-14 06:25
Yeah. Taipei is probably the best Chinese city I've ever lived in.
jason
2021-02-18 01:18
Panamanian IBC is now opened, next up is the bank account. Wondering if I have to keep this IBC around after I get residency. Since I'm still a US Person it's just more BS filings I'll have to do.
imatfaal
2021-02-18 08:23
Good video on getting residency in Tunisia by setting up a company there. Whole process only takes a few weeks and costs USD75 (or about USD650 if you pay a lawyer to do the whole thing for you). Many tax and travel benefits to having a company in Tunisa: https://www.youtube.com/watch?v=GRT5fc0Fm4M
bhugbhug
2021-02-18 22:33
Belize about to launch a new visa allowing long term tourists to work from there. As a territorial taxation country, would it be the ultimate combo with temporary residency in Mexico?
arthurmarie1991
2021-02-19 01:07
@ambroise.debret :laughing:
rtiagm
2021-02-19 05:16
At first glance, that seems interesting.
ben659
2021-02-19 22:07
What are tax residency requirements for Belize?
arthur.vandelaak
2021-02-25 20:55
I am seriously considering it too. 1% tax on turnover if I employ myself. EU benefits. Plus only a 5% tax on Divi.
janemac
2021-03-04 08:36
I don't have the patience to listen to someone blather on for 22 minutes in a video. Can you give quick bullet points of the benefits of Tunisian residency? :pray::slightly_smiling_face: @imatfaal
janemac
2021-03-04 08:41
NZ is indeed incredibly beautiful, but bear in mind it'd cost you a bunch of money and brutally long travel to visit family and friends back in the UK and Europe. #kiwibornandbred
d.mikocionis
2021-03-08 16:58
These were the exact thoughts/questions I was asking myself too
greenard23
2021-03-10 13:45
I think residency is still limited to 90 days, only citizenship allows more.
asarun72
2021-03-18 02:19
Croatia 1 year digital nomad program
arthurmarie1991
2021-03-18 13:25
@ambroise.debret
ggiampieri
2021-03-18 15:10
Good news for non EU citizens, what about taxes for EU citizens? It looks like you get 5 years permit, but regular taxes.
ambroise.debret
2021-03-18 15:35
https://www.croatia.hr/en-GB/travel-info/croatia-your-new-office#collapse-accordion-180779-8
No.
�
Digital Nomads working remotely are not subject to Croatian income taxes so long as the work they are performing is not for the Croatian market and for non-Croatian companies. This applies for up to 12 months or the duration of the permit.
Namely, income tax is not paid on receipts of natural persons who have obtained the digital nomad status if the receipts were generated on the basis of employment or activity for an employer not registered in the Republic of Croatia. If you would like to work locally, this permit does not enable local employment.
Additional information on taxation in Croatia may be found on the Ministry of Finance?s Tax Administration website�https://www.porezna-uprava.hr/en/Pages/default.aspx.
ambroise.debret
2021-03-18 15:37
https://www.croatia.hr/en-GB/travel-info/croatia-your-new-office#collapse-accordion-180779-5
Up to 12 months.
�
The new legislation introducing Digital Nomads Residence Permits for residence permits took effect January 1st�and is intended for non-EU third-country nationals.
Temporary residence permit is granted for up to 12 months (it?s possible to apply for shorter stay) and it cannot be extended. A new application for regulating a residence permit for digital nomads can be submitted 6 months after the expiry of the previously granted temporary residence permit for digital nomads.
�
Close family members of a digital nomad who has been granted temporary residence permit in the Republic of Croatia may join him/her in the Republic of Croatia.
internationalbits
2021-03-20 12:23
Absolutely fantastic initiative. Go Croatia!
What's not clear to me is, as the EU citizens wouldn't need any permit to stay, will they qualify for the tax benefits?
internationalbits
2021-03-20 13:10
i'll reply to myself and add this here for anyone who is also interested. source is KPMG
internationalbits
2021-03-20 13:10
"In a nutshell, digital nomads are third country nationals working as a freelancers, while having approved temporary stay in Croatia. The term does not apply to EU nationals, thus a citizen of Germany, for example, will not be treated as a digital nomad in Croatia, and�the income of an EU national working as a freelancer in Croatia will be subject to taxes in accordance with Croatian and applicable international law."
brent
2021-03-21 21:43
@jase I see there's some serious discussions around a SG <-> AU travel bubble....lets see if it actually comes to pass....
jase
2021-03-22 06:53
Yes I have seen that too @brent. At the same time talk of Taiwan/Singapore bubble
brent
2021-03-22 07:00
:crossed_fingers:
ben659
2021-03-25 19:19
Anyone have experience with Central American countries other than Panama and Costa Rica?
ben659
2021-03-25 19:21
(Especially Guatemala)
marziovit
2021-03-25 19:30
Does having watched Narcos counts as ?experience??
mohd
2021-03-25 21:45
If all seasons then maybe :smile:
omocha_10
2021-03-26 09:57
I traveled Central America some years ago. Salvador, Guatemala, Honduras, Nicaragua, specially in cities much dangerous/insecure than CR and Panama.
Antigua in Guatemala is a nice town, and there is Lake Atitlan that is like a nomad/backpacking/expat hub, specially for yoga/new age people. When I was there Guatemala was one of the cheaper countries.
The most expensive I think is Belize. Mexico has the beaches Tulum, Playa del Carmen. I know friends who invested in Real state over there with good results so far.
omocha_10
2021-03-26 09:59
Yes, but watching ?El Patron del Mal? gives you more credit as it is a colombian production.... The trailer .... https://youtu.be/ecMRHx3snTw
ben659
2021-03-26 15:26
Thanks for the info. Did you feel insecure even outside of cities like Managua and Ciudad de Guatemala? Was wondering if anyone had experience with their residency programmes and taxation systems.
felix
2021-03-26 16:43
Colombia is South America...
felix
2021-03-26 16:44
Lived in Medellin for 6+ months and found it very safe. Not so much in Bogota..
Can?t speak for Central America, but Colombia is a great place to live.
omocha_10
2021-03-26 17:00
Outside the cities I felt ok. Still, you see the circled barb wires, alarms, arm guards. I can only read online articles about residency and taxes, no personal experiences.
stolzlos
2021-03-26 17:23
ben659
2021-03-26 23:41
I guess I?ll be reporting back here after some investigation
danz
2021-03-28 01:32
Mexico for 2 years
klaus
2021-03-28 12:29
I am an EU citizen, currently with residence in Malta. My girlfriend is Ukranian. If we marry, as I understand the EU rules, she can stay as long as she wants in my country of residence (Malta), but if we decide to go to another EU country for an extended period of time, she will still have to abide by the max 90/180 day rule (which means no benefit from marriage, in that case).
Can somebody confirm if I understood that correctly?
vinodgn0088
2021-03-28 13:54
@klaus, I am not 100% sure but letting you know what I understand. If you marry her, she will get a Maltese residence permit as your dependent. She can travel in the whole Schengen area with the permit and she need to abide by the max 90/180 days rule. Even you as an EU citizen need to abide by the max 90/180 day rule. Before covid19, the travel inside Schengen area never had any real checks and those with a residence permit (also national id) of the Schengen member state was able to spend more time than the stipulated maximum days limit. Another thing is that if you decide to move from Malta to another EU country, your wife also can get a dependent residence permit there. The only caveat here is that both you must be resident in the same EU country. i.e, it is not possible to have your name registered in Malta and her name registered in Cyprus while she is holding a dependent permit.
brent
2021-03-28 21:53
@vinodgn0088 I did not know that even EU citizens had to abide by the 90/180 day rule.... !?
michal.opoka
2021-03-29 00:00
EU citizens can definitively move and reside freely within block, it's literally in EU treaty:
Article 45 - Freedom of movement and of residence
1. Every citizen of the Union has the right to move and reside freely within the territory of the Member States.
2. Freedom of movement and residence may be granted, in accordance with the Treaties, to nationals of third countries legally resident in the territory of a Member State.
brent
2021-03-29 04:42
@michal.opoka That's what I thought.
vinodgn0088
2021-03-29 09:19
@brent and @michal.opoka, a bit confused here. Then what is the purpose of Long term residence permit for EU citizen in another member state? Like a Citizen of Germany can request a residence permit in Malta based on self-employment or based on work contract or based on self sufficiency.
vinodgn0088
2021-03-29 09:21
Entry and residence of�EU�citizens
EU�citizens may enter and stay in the territory of another Member States for up to three months without being subject to any conditions or formalities other than the requirement to hold a valid identity card or passport.
EU�citizens have the right of residence for longer than three months if they
? are workers or self-employed persons in the host Member State or are seeking employment (for a certain length of time);
? are not in employment or are students or trainees and have sufficient resources and comprehensive health insurance cover;
? have the right of permanent residence (following legal residence of five years).
? Family members, regardless of their citizenship, accompanying or joining an�EU�citizen who satisfies these conditions also have the right of residence for more than three months.
So the underlying idea is that in order to reside for more than three months in another Member State,�EU�citizens must have sufficient resources for themselves and their family members not to become a burden on the social assistance system of the host Member State.
mb
2021-03-29 10:08
@vinodgn0088 This is my understanding too. E.g. in Spain they asked to show proof of 'means', health insurance etc. Same in Slovenia. So the way I take it, you are 'born' in a EU country, where you can stay without any limitations. If you want to move to another EU country, and stay longer than 3 months, you have to proof to be self sufficient most of times.
Although, being self-sufficient will result in varying amounts depending on the EU member country you're in.
michal.opoka
2021-03-29 15:20
@vinodgn0088 Basically the point is to prevent people from EU countries with less social benefits to move to other EU countries just to get more social benefits
jason
2021-03-29 22:13
Great info guys, I was curious about this as well, I would be in a similar situation as @klaus if my wife renounced US citizenship.
jason
2021-03-29 23:41
I just had my FBI background checks authenticated by the US State Department, due to covid, it took 11 weeks! These were the last apostille's I needed for my trip to Panama ( to apply for residency )
umesh.desai
2021-03-30 00:03
I'm doing the same, got my application in about 2 months ago
jason
2021-03-30 00:58
@umesh.desai nice, at this rate there will be a good group of us with Panama residencies forming up!
maticko
2021-04-04 13:20
hi all! i'm new on this slack. is anyone here with first hand experience with Malaysian residency?
vinodgn0088
2021-04-04 16:25
@maticko, MM2H ?
maticko
2021-04-04 16:26
i have question about mm2h and via-labuan. can i pm you?
vinodgn0088
2021-04-04 16:26
@maticko, Yes PM me
seb.malek
2021-04-05 22:39
As a Croat, I don't like it at all. Why do I have to pay taxes if I work for a foreign company then? I'm basically punished just because I was born here.
jason
2021-04-08 22:39
After 5 months of paperwork and trading emails with the law firm, I finally got everything together for my trip to Panama to apply for residency. Will be there Apr 24th -> May 15th and be staying in the downtown area if anyone else is around.
umesh.desai
2021-04-08 23:29
bit early for me, I was planning on being there from June, but if my residency approval comes through earlier, I might be there for a few days earlier
tiagomdreganha
2021-04-09 11:42
What are your plans in terms of actually staying time there and getting some substance (property/rental, bills...)?
I've heard good things of Bocas del Toro but only from people staying 4-6 weeks there with a digital nomad community.
umesh.desai
2021-04-09 12:08
I'm going to get an apartment in panama city for a few months to give me enough time to find stuff to do, meet people, discover shops, restaurants, etc
umesh.desai
2021-04-09 12:12
I'm only interested in renting, so I won't be buying
jase
2021-04-09 13:34
I think this is great as a single male who does not require quality Internet. But anyone who takes life seriously outside of surfing and party, I'm not so sure.
turgut
2021-04-09 13:59
is there any way to get a utility bill in dubai for bank opening such as dewa ?
burrup.lambert
2021-04-09 15:44
You can open accounts at a few banks as a foreigner.
Emirates NBD comes to mind. Minimum AED3000 deposit IIRC.
Standard Chartered. AED100,000 (Premium).
I had no luck with Citi/HSBC (required property)/Mashreq (wanted me to buy life insurance).
I'd stick to the big ones if you can. All required in person visit.
turgut
2021-04-09 21:15
Yes i know that ones but i need a dewa for more. thanks
youssef
2021-04-18 18:50
Has anyone tried getting a uae residency using the freelancer visa thing? Could?ve sworn I saw a comment by simon on the blog about that but can?t find it right now.
ivan550
2021-04-21 14:22
I was able to get a UAE Residency by opening a company in one of the free zones. (Ras Al Khaimah)
internationalbits
2021-04-22 17:12
as a Croat it is extremely easy to relocate to countries like malta, cyprus, portugal, ireland, depending on what your income is made of, your lifestyle choices etc etc
internationalbits
2021-04-22 17:15
so you will have a lot of choice yourself, while the citizens of those countries cannot themselves qualify for the tax breaks like you could, as a Croat
youssef
2021-04-24 02:23
Thanks appreciate the input
seb.malek
2021-04-24 22:58
that's their problem, not mine lol
martinitrade
2021-04-28 17:15
Can anyone recommend a good guide or agency for getting tax residency in Cyprus, combined with a WY LLC?
vinodgn0088
2021-04-28 17:40
@ivan550, Did you managed to open a business bank account in UAE for your RAK company?
bierlingm
2021-04-28 18:49
@martinitrade Would you prefer Cyprus over Malta? And if so can you tell me your opinion why because im planning on a similar type of structure within 2 years
bountybairn
2021-04-28 20:23
@martinitrade Im based in Cyprus and have an agent I work closely with DM me your email and I can make an intro. Same with yourself @bierlingm
burrup.lambert
2021-04-29 01:28
Anyone gone through Mexican temporary residence? Love to connect!
bierlingm
2021-04-29 07:31
Thanks Paul, still exploring my options right now but will keep your offer in mind @bountybairn
td
2021-04-29 08:18
@bountybairn do you have a setup, where you dont need a cyprus limited? in my opinion having a us llc without substance, like any other setup of that kind, would make no sense. US LLC makes only sense when its a disregarded entity, and if thats the case you have to pay taxes here in cyprus. And my consultant here told me, that for the yellow slip the ltd is the easiest way, i know about hnwi/solepreneur, but i was told that they dont accept anyone and its not that easy to get? I am just in the process of founding my ltd here and if there is an easier way i would go for it :smile:
bountybairn
2021-04-29 08:33
Founding Limited here is the easiest, am i right thinking that you dont have a yellow slip already?
I have WY LLC, UK Ltd and Cyprys Ltd in the 'portfolio' and nothing was all that hard here like bank accounts etc. but I always was able to prove reasonable income i.e. getting a bank account was easy as I had UK income and proof of it, this made yellow slip easier, i only then formed cyprus ltd
bountybairn
2021-04-29 08:34
If you do cyrpus ltd first it will take around 2 weeks after and is super simple then for the yellow slip as you can technically employ yourself
td
2021-04-29 08:43
i just arived 2 weeks ago :smile: and i was just a little bit scared of the overhead of running the ltd, and handling with consultants, lawyers and all that, but sure its possible. When my company is setup, my plan was to make the appointment for the yellow slip, but i am not in a hurry as i also have other companies as well :slightly_smiling_face:
bierlingm
2021-04-29 09:16
What do you guys do in daily life if you dont mind me asking? @bountybairn @td
td
2021-04-29 09:30
selling digital information products like books, online courses, running membership platforms and some affilliate marketing, all passive income once its setup, so daily life is more about barbecue, drinking and art/writing recently :smile:
bountybairn
2021-04-29 10:19
@td welcome! If you dont want or need nominee services then the tax for me more than set off the difference in set up costs (UK for �20 here is over ?1000 euros more but my tax bill will be less by waaaay more than 1000 euros)
@bierlingm if you mean for a living, I run tech consultancy/agency and a few side hustles, some UK property and such how about you?
bountybairn
2021-04-29 10:19
@td where in Cyprus are you based?
bierlingm
2021-04-29 10:24
Sounds good Thomas!
bierlingm
2021-04-29 10:25
And interesting Paul, I trade currencies for a Proprietary fund
bierlingm
2021-04-29 10:25
Living in the Netherlands, but the climate and tax system is rigged so planning on leaving next year
bountybairn
2021-04-29 10:36
Cyprus is becoming very popular also with Germans who are coming here in their droves to escape the crazy tax changes going on there.
erik.stromberg
2021-04-29 12:21
I got the yellow slip as a self-sufficient person (or whatever they called it) just by showing that I received dividends from my Seychelles company. Private health insurance, which cost less than 200 EUR, was also needed.
danz
2021-04-29 20:02
I have, sent me a pm if you got questions:)
td
2021-04-30 06:39
@bountybairn i am from germany as well :smile: and now based in larnaca, so far a really nice place :slightly_smiling_face: lets meet for a beer when this lockdown is over :slightly_smiling_face:
td
2021-04-30 06:50
i thought about that option as well. but i saw two drawbacks, 1. you have to stay 180 days instead of 60, i plan to travel again when its possible 2. the substance requirements for offshore corps, basicly its just a matter of time / money when this setup runs into troubles
bountybairn
2021-04-30 09:43
Or you could get a part time local job, employer sponsoring your stay.....my GESSY contributions are 51.70 a month for me and my wife, totally. worth it. Non dom status means that this is essentially all the 'tax' i pay - if i was still in UK the tax was 10's of thousands, happy to work with the local advisers and pay for this huge benefit
bountybairn
2021-04-30 17:47
My next. door neighbour is helping lots of Germans to come here with logistical arrangements, company, residency etc. he was telling me more and more coming he said!
Yes a beer sounds good, this will be lifted when numbers are looking good enough to get a green list for the tourists to start again\
jb385906
2021-05-01 12:47
Georgia!
Can someone please recommend a lawyer in Georgia who can guide through getting residency in this country?
Thank you!
demmbox
2021-05-02 05:54
if you are self-employed you can apply. I got my residency for 1 year 2 weeks ago
bierlingm
2021-05-02 09:07
Good for them, EU falling apart and being ripped off with extreme tax rates
jason
2021-05-06 23:41
just had our family visit to the Panama immigration office, that place is an absolute madhouse, glad I brought a translator... thought we were done but I just heard from the lawyers that they screwed up my wife's temp id and we will have to go back on Monday :exploding_head:
maticko
2021-05-06 23:44
gotta love the potato webcams they use for mugshot pics
jason
2021-05-07 01:15
haha, yeah i noticed how our heads were strangely elongated on those ids they printed
ladislasmaurice
2021-05-07 04:50
maticko
2021-05-07 10:20
yes! they are stretched vertically on the ids but on the drivers license they are stretched horizontally lol
yaron.been
2021-05-09 15:54
@jb385906
Did you find a good lawyer?
I'm thinking of obtaining a residency in Georgia as well.
jb385906
2021-05-10 06:41
Hey! I didn't and switched to another country...
yaron.been
2021-05-10 10:19
Oh I see..
You mind sharing which country and why?
ivan550
2021-05-14 12:05
Yes I was able to do this with Mashreq
mail777
2021-05-23 15:46
:flag-pa: Friendly Nations changes:
https://www.cldlegal.com/en/changes-to-the-friendly-nations-visa/
info596
2021-05-23 20:28
Hi all, this might be useful info: in Serbia, you can easily get a residence permit by buying a property. Any property of any value. For example, you can buy a house in a village for ?5000 and get the papers. Serbia is non-EU but has banking options in Euros, Swiss franks, USD, and of course the local currency. A nice thing is that even if you have residency papers (privremeni boravak), you first bank as a nonresident at least for a year, where you don't have to provide any docs like proof of income, invoices, contracts, etc.
lauren
2021-05-23 23:56
Anyone else living in Dubai? :wave:
omocha_10
2021-05-24 14:29
Hi Elisa, where did you get this information? From internet ? Thanks
info596
2021-05-24 18:27
Hi Mario, I live in Serbia and I banked that way initially. As for the property purchase temporary residence permit, it's common knowledge here but I could check out more details for you.
jason
2021-05-24 20:58
pretty big news, I just finished my residency applications about a week ago!
felix
2021-05-25 01:19
Very interesting. Thanks for sharing!
russ7
2021-05-25 16:14
@simon - I left Canada April 5th and began a year-long lease in Belize then. Is there any paperwork to fill out with the CRA to notify them I am not coming back?
burrup.lambert
2021-05-27 18:25
Does anyone have a list or database they know of that contains a list of all countries where you can receive some type of residence purely based on passive or investment income (or even active income), preferably without an age requirement?
To me it seems like a super simple and easy to to get residency in a country if you are eligible. Countries I know of where it may be possible:
? Argentina (Rentista Visa)
? Chile (Rentista Visa)
? Mexico (Temporary or Permanent Visa)
? South Africa (Retired Persons Visa)
? Panama (Pension Visa)
Any others?
umesh.desai
2021-05-27 18:26
panama (pension visa)
burrup.lambert
2021-05-27 18:50
Added :sunglasses:.
maticko
2021-05-27 18:51
UAE? and mm2h when it repoens?
maticko
2021-05-27 18:53
panama has friendly nations visa and another one where you need to deposit 300k. but panama sucks balls. im getting out.
burrup.lambert
2021-05-27 19:00
Blah, can't edit original post anymore. The Sarawak MM2H is still running, not sure the Federal MM2H program is going to come back in all it's glory.
simon
2021-05-27 19:12
Many European countries offer visas based on financial self sustainability. France, for example. Many countries also offer visas based on bank balances (if you have over a certain amount, you can apply).
burrup.lambert
2021-05-27 21:14
I should clarify. Ideally there should be no requirement to live in the country to maintain the visa and if the visa is temporary there should be a path to upgrade it to permanent and/or path to citizenship with minimal requirements.
Mexico fits the bill nicely and so does South Africa assuming the visa can be obtained.
burrup.lambert
2021-05-28 12:42
Thanks for the link!
simon
2021-05-28 20:34
No, you only need to enter the date you left on your final return (and may need to file additional forms along with your return, if you have capital gains to report for example).
algarcidbs
2021-06-01 14:19
Hi guys, I?d really appreciate help with an issue a client has and I?m not sure how to solve. If any of you could come up with any ideas it would be very helpful.
This person is from Morocco (more than 10 years in Spain) and his father died recently. His part of the inheritance is over several millions, and taxing them in Spain would be catastrophic. No option for deductions as his father lived in Morocco.
Thank you in advance for any comment, observation or alternative :pray::skin-tone-3:
omocha_10
2021-06-01 14:32
I?m curious, where it should be tax? Where the father was or where the son lives?
I?m not a professional, but I heard many times rich parents moving from Scandinavia, USA etc to tax friendly nations so the father?s residency nation at time of dying can?t tax it.
mb
2021-06-01 14:41
Is it solution for him to change his residency before receiving the inheritance?
algarcidbs
2021-06-01 14:51
Hi Mario! The father (and the rest of the family) are from and live in Morocco, but my client here in Spain, where his part of the inheritance would be taxed.
Here we have good deductions for this tax but for him they don?t apply as the money is foreign sourced.
algarcidbs
2021-06-01 14:52
Hello Michel, yes! I was considering telling him to rent a property and move to Portugal, where they don?t have inheritance tax. The problem is his father died this year (so it will be taxable this year) with few margin to move.
algarcidbs
2021-06-01 14:55
I couln?t find out if Morocco runs CRS. As far as I?m concerned, they signed it in 2019 but it seems to start applying in sept2021, please correct me if wrong
umesh.desai
2021-06-01 15:01
a quick google shows that some countries (uk, us), allow you to reject the inheritance, in which case the assets due would get distributed amongst whoever is next in line to receive assets
umesh.desai
2021-06-01 15:02
no tax liability would be due in spain if he rejected the inheritance
umesh.desai
2021-06-01 15:02
then the question becomes, who is the next beneficiary, and is that beneficiary someone you want to receive the inheritance
algarcidbs
2021-06-01 15:23
Hi Fizz! Thanks for the response. In Spain you are able to reject the inheritance as well... the thing is the bad relationship amongst the family. Such a puzzle!
mb
2021-06-01 15:32
Yeah the bad relationship makes it harder. Does it work like that, that an inheritance gets reported to the Spanish tax office upon announcement? Just trying to see what stands in the way of moving before receiving an inheritance.
mb
2021-06-01 15:36
Also reading something here about transferring the inheritance to a foreign holding company first, but they write about 'property' so might not apply:
https://www.volawyers.com/is-it-possible-to-avoid-paying-inheritance-tax-in-spain/
mb
2021-06-01 15:38
Also, as I know, the autonomous region of Madrid has no inheritance tax? http://www.criadokraus.com/good-news-at-the-inheritance-tax
mb
2021-06-01 15:38
> As a matter of fact, there are many differences among the autonomous regions. Just an example. In Madrid, there is a 99% of the taxable base (meaning the value of assets over which the tax is applied) thing that didn?t exist in other autonomous region. In Madrid no one pays inheritance tax. This does not apply in the rest of the autonomous regions in Spain where the inheritance tax is hitting the population up to such an extremen that sometimes heirs have to borrow money t pay the inheritance tax or simple refuse the inheritance to avoid paying the tax, simply because most of�the�times there is not money to pay it.
tiagomdreganha
2021-06-01 15:48
I would move to Portugal right away if it's indeed in the millions and claim tax residency for the year, Portugal also has the concept of partial tax residence where you are a tax resident for only part of the year when doing the income tax filling. But there's a special form/filling for inheritances, it's not part of the yearly tax filling.
Hopefuly by the time the inheritance gets distributed he'd have solid substance in Portugal (rented house at least). Ofc there's always the chance Spain makes a fuss about it, specially if he has strong ties with Spain.
algarcidbs
2021-06-01 21:30
Thanks guys. Yes, he?s willing to make an effort to save some taxes as he is not a wealthy person (well, now he will be).
Moving to Portugal es the first option in my opinion as well. The hard thing is that, although Portugal has te option of partial tax residence, if the rest of the year he has been in Spain... they will consider all 2021 as taxable.
Probable if we can move him fastly to Portugal (so he can stay more than 183 days... and able to prove it, because with this quantities...), that could work, specially if that money don?t go through spanish banks in four years.
The desperate option would be getting the inheritance in a bank from Morocco and trying to move it to a LLC or so.
About Madrid, I?m almost sure that it applies when inheritance is spanish sourced, but as I?m not 100% sure, I?ll check.
Thanks :muscle::skin-tone-3::muscle::skin-tone-3::muscle::skin-tone-3:
vinodgn0088
2021-06-02 08:36
@algarcidbs, What I am going to say is not a fully legal option and not even sure how bribes work in Morocco. Make a deal with his family members and a Moroccan lawyer. Create a back dated will with his dad's signature (someone need to put a fake signature) and the will says that all of his dad's wealth needs to be transferred to a newly formed "Trust" within one year after he passes away and the beneficiaries of the "Trust" should be the actual persons who are eligible to receive the wealth. The funds shall remain in the "Trust" for minimum 1 year and after which the trust may be dissolved and the funds to given to beneficiaries. Mean time your client may move to Portugal and reside there 1 year. If this setup can be made, then Spain can't claim a penny from him.
algarcidbs
2021-06-02 12:12
Hi @vinodgn0088 thank you very much! The issue here is the bad/no-relationship between my client and his two sisters (who are still living there). But I didn't thought about using trusts for situations like this, I find it very useful for other strategies, so thanks again!
algarcidbs
2021-06-02 12:13
I think I'll tell him to move as fast as possible (before July) to Portugal so he can avoid being spanish resident in 2021. Spain is such a tax hell!
vinodgn0088
2021-06-02 12:37
@algarcidbs, Tell your client to not leave anything behind in Spain, Family, Work, Bank Accounts, Phone number, Any membership. De-register from Canton and inform tax department too. Try his best to not move back to Spain in upcoming 5 years. He can visit as tourist, but never engage in any work, business etc. Otherwise Spain will think that he moved to Portugal just to evade inheritance tax.
vinodgn0088
2021-06-02 12:40
@algarcidbs, If there was no will left by his dad, then there is high chance that all the heirs must mutual agree on what wealth each of them are going to receive. Most likely a settlement agreement or something will need to be done in-front of a lawyer. If that's the case try to postpone that settlement as much as possible so that it will happen after Jul 2022.
tiagomdreganha
2021-06-02 15:06
Yeah I was also going to suggest to try as best to postpone the actual settlement/payment so it lands at least in 2022
tiagomdreganha
2021-06-02 15:07
And have the funds enter a bank account where he's registered as a Portuguese resident, ideally a new account in a bank were he was never registered as a Spanish resident just to be sure, if he does it in a bank account where he is/was with a Spanish residency status, I think at least the balance will be communicated with Spain
ben659
2021-06-02 15:57
Can you renew a Mexican residency permit each year for four years, then convert it to a permanent residency, without spending much time in the country each year?
burrup.lambert
2021-06-02 16:44
For temporary residency:
? Apply at local consulate, get approved for 1 year visa
? Fly to Mexico to activate it and get your card (have to stay in Mexico while this is happening, approx. 1 month) then you can leave
? Fly back to Mexico approx 1 year later when current visa expires and renew it for *3 years (no need to prove financials again),* then leave country
? Fly back to Mexico 3 years later to upgrade it to Permanent Residence,
No need to spend time in Mexico.
felix
2021-06-03 02:31
Did you have a look into how the inheritance is taxed in Morocco, Spain and Portugal? It looks like each country can have 3 different ways how they tax inhertance. 1. Where the deceased lived, 2. Where the heir lives and/or where the estate is based. That leads to tricky (sometime double taxation) in the EU. https://ec.europa.eu/taxation_customs/individuals/personal-taxation/paying-inheritance-tax-twice_en
Was curious myself about how this works and came across the article above. Hope it helps.
geoffrey.theodule
2021-06-04 00:00
Hi @burrup.lambert , unrelated to the topic, I just sent you a quick message about the Rentista in Argentina, if you don't mind having a quick look, I'd appreciate it :wink:
tatelev
2021-06-05 16:45
Hi, does anybody here have any knowledge or experience to share about options for moving to live in USA with my family? I currently have a US LLC business with US bank account, operating since 3-4 years, based mainly on importing from China and selling on Amazon FBA USA, my wife has her brother and nephews where we would move, some friends? I have no clue how easy or hard it would be and what paths(I just know that I�m out of the 1M dollar threshold league that I believe gives you an automatic green card), so any input welcome
umesh.desai
2021-06-05 17:28
E2 or eb5 are potential avenues. E2 is a non -immigrant visa but gives you up to 5 years, after which you can renew.
umesh.desai
2021-06-05 17:29
Eb5 is you have to invest 1.7m, or half that under some conditions, and it puts you on the path to a green card.
umesh.desai
2021-06-05 17:30
One pitfall of the e2 is that it is only good for your children up to the age of 21
umesh.desai
2021-06-05 17:30
But a way around that might be to get them their own E2 when that situation arises
umesh.desai
2021-06-05 17:32
And E2 is not open to b every country, but you can work around it by getting residency in a place that is eligible for the E2 first
tatelev
2021-06-05 19:05
Thanks @umesh.desai, this is very valuable information. I will research this E2 visa which I didn?t know about, first check if Spain is accepted for that. I might have further questions later. Thanks!
omocha_10
2021-06-07 13:10
@algarcidbs I asked a friend about your post, close shop in Spain, go live somewhere more ?tax friendly? like Portugal, Malta, Andorra, Monaco, Argentina....he says maybe open an investment account in some country like.... USA, Singapore....get the money wired over there, that could be a solution....
michal.opoka
2021-06-07 13:55
Looks like Morocco doesn't have inheritance tax, so maybe go there if client is Moroccan citizen? It would look more natural to Spanish tax authorities
burrup.lambert
2021-06-07 23:35
Update about digital nomad visa for Argentina. I think there is a discussion (webinar) happening in 2 days if anyone wants to attend. I think there will be a recording too.
https://nomadsba.com/
Updated timeline for Argentina Nomad Visa = September (was supposed to be Feb this year).
omocha_10
2021-06-08 05:25
Who?s behind/baking this project in AR?
burrup.lambert
2021-06-08 12:53
No idea.
omocha_10
2021-06-12 12:15
Hi, my mother?s mother(my grandmother) was born in Italy, then emigrated to SA.
Does anybody knows if I can apply for Italian passport?
Already got her birth certificate.
Did anyone got it, can share some suggestions on applying for it?
jason
2021-06-12 20:09
I would definitely look into it, I've successfully gone down that road, but it took a few years to pull off. Just be aware of the 1948 rule - https://www.myitalianfamily.com/resource-center/italian-citizenship-1948-rule
omocha_10
2021-06-13 03:47
Cool, thanks.... Maybe time to play the ?no gender? card... :grinning:
mikeseo
2021-06-13 05:59
I hired Luigi Paino to challenge the 1948 rule and it worked, took 1-2yrs and cost 2000-3000EUR. Got my IT passport (from grandmother born 1911 something)
omocha_10
2021-06-13 15:26
Great, thanks :pray:
anton
2021-06-16 09:58
Hello! Does someone have experience with getting serbian residency through company formation? It looks to be a pretty straightforward way of getting residency there (no mather nationality), with not the worst tax system.
nico.verresen
2021-06-16 17:03
@simon Hey Simon, I just came off the phone with a Cypriotic lawyer and she says that my LLP is taxed as personal income (so tax free up to 19k). Dividend from an LTD is exempt and I am exempt from paying taxes until I have 85k profits in the UK LTD. Is that correct. So, if I get it right, financially there is little advantage of Cyprus over Portugal. Or am I wrongly informed?
simon
2021-06-16 17:08
@nico.verresen The advantage of Cyprus is that you pay 12.5% on your LTD profits and no personal tax on the dividends you then receive from said LTD. Portugal only works if you have no plans to spend any time there.
nico.verresen
2021-06-16 18:15
@simon Only works if I have no plans to spend any time in Portugal?
simon
2021-06-16 18:19
Income generated while in Portugal is liable to tax in Portugal
nico.verresen
2021-06-16 18:19
I heard that if you have an English LTD that dividend is tax free
nico.verresen
2021-06-16 18:20
I am a bit confused
simon
2021-06-16 18:20
Yeah but only if you run it from abroad, and pay UK corporation tax (19%)
nico.verresen
2021-06-16 18:20
What do you mean, if you run it from abroad? I am sorry, not a specialist yet :smile:
simon
2021-06-16 18:22
Both individuals and companies are taxed where work is performed. If you work from Portugal / manage your LTD from Portugal, that is where you / your LTD will pay tax. NHR only excludes foreign sourced income (income from work performed outside of the country).
simon
2021-06-16 18:23
That?s why Portugal is a great option for perpetual travelers (no need to spend time in country to maintain tax residency and no tax on foreign sourced income) but not a great option as a place to live and work
nico.verresen
2021-06-16 18:52
So if I stay there less than 6 months a year, NHR is great?
simon
2021-06-16 19:00
Ideally no more than 1-2 months, and with a company that is tax efficient and capable of paying dividends
nico.verresen
2021-06-16 19:43
okay
nico.verresen
2021-06-17 10:04
@simon Is it true that for a UK LTD you are exempt from tax until you have 85k pounds profit?
simon
2021-06-17 10:08
That?s the VAT registration threshold, if you have UK VAT liable sales. There is no threshold for corporation tax.
nico.verresen
2021-06-17 14:14
Okay, so you always pay corporation tax of 19 percent on proftis?
nico.verresen
2021-06-17 14:15
Thank you
nico.verresen
2021-06-17 14:26
Hey @simon, I just read the article about Ukraine. Is it theoretically than possible to be a tax resident in Ukraine and to live 6-9 months in Portugal?
marziovit
2021-06-17 18:17
Be aware that Ukraine is introducing CFC rules this year so you can?t simply invoice yourself and pay 5% tax on that income while leaving the rest of the profits in the offshore company. You could live up to 182 days in Portugal without triggering tax residency there.
nico.verresen
2021-06-17 21:38
Hey Marcio, is there an article that I can read about CFC rules? I do not know what they are. Super thanks for your help @marziovit
marziovit
2021-06-18 06:07
If you think your income will be under 2M EUR the Ukraine route could still be a viable option
marziovit
2021-06-18 06:09
@simon do you know if with private entrepreneur you have to rent out an apartment or could you use a mailbox or something similar as your Ukrainian address?
simon
2021-06-18 18:25
Any address will do, it doesn't have to be a residential address.
otkeedca
2021-06-19 01:00
Is there a list anywhere online of countries *without* Place of Effective Management laws? It seems like most countries have these now.
kuka
2021-06-21 05:52
Has anyone gone through O1/EB1A applications in the US? Going through it right now.
ambroise.debret
2021-06-22 10:16
But also (from my research + talking with PT lawyers) :
? even if there is no minimal stay, Portugal Finanzas, will track your spendings with your NIF and expect you to spend > 6 months per year in Portugal
? And since as major LLP partner residing in PT, management of company might be considered done from Portugal the whole year and well, that?s not great
? My guess L with COVID debts and increasing nomads, such countries will start looking for money, and if the slightest thing is off, NHR?s would end up paying the very high PT taxes
Cc : @nico.verresen
nico.verresen
2021-06-23 14:46
Hey @marziovit I am not earning more than 2M atm. Why is that a factor if I might ask?
marziovit
2021-06-23 15:03
@nico.verresen because over 2M the offshore company is considered a CFC and you will have to pay taxes in Ukraine at 18% (probably). It's all explained in the link i posted.
nico.verresen
2021-06-23 15:29
Ok, so because I am below that. The 5% invoicing myself policy can still be used. I will take my time to read the article as this is not my speciality. Thank you.
lauren
2021-06-25 05:34
Anyone else here based in Dubai
bountybairn
2021-06-26 19:39
do you need something specific @lauren or just looking to connect with fellow freedom surfers?
Not there, but a few of my friends are....
lauren
2021-06-27 08:27
I live there and am looking to connect with more entrepreneurs:)
burrup.lambert
2021-07-01 14:40
An EU golden visa in the Caribbean
https://www.imidaily.com/caribbean/curacao-revamps-investor-permit-program-path-to-dutch-citizenship-in-5-years/
internationalbits
2021-07-13 08:19
if you get that you will have to ceize being citizen elsewhere though as Dutch citizenship doesn't allow dual citizenship
mb
2021-07-13 08:28
@internationalbits Though in this case in Cura�ao it's a Dutch citizenship. But yes, unfortunately being a Dutch citizen means you can't have another passport...unless you can't denounce another citizenship by birth etc.
burrup.lambert
2021-07-13 14:39
Good catch!
ashishbhatia.ab
2021-07-15 16:58
Are there any countries that have residency/citizenship plans similar to EB-1A by the United States?
EB-1A has been granted to individuals with stellar credentials even with ZERO prior links to the US.
EDIT: If possible, the country shouldn't have onerous time spent requirements.
umesh.desai
2021-07-15 17:22
australia's points system is essentially that
umesh.desai
2021-07-15 17:23
though you don't have to be exceptional to get into that, just 'useful'
ashishbhatia.ab
2021-07-15 17:25
@umesh.desai Yeah. Australia has very onerous time spent requirements though.
simon
2021-07-15 17:26
Some countries also have fast track programs for ?exceptional talent?. Usually qualification is based on patents to your name, link to large corporates etc
ashishbhatia.ab
2021-07-15 17:28
@simon I might qualify. Can you share some country names? either here or in a DM?
simon
2021-07-15 17:40
There?s quite a few but one of the most interesting (if you are in the tech space) is the Singapore tech pass. It?s super flexible and the tax benefits are obviously interesting. Japan is another interesting one (you only need one year to qualify for PR). There?s also Australia as Fizz mentioned, UK, multiple EU countries etc
ashishbhatia.ab
2021-07-15 18:01
Thanks @simon, it seems that the Japanes option requires me to have a job in Japan for at least a year. What are the good options in EU?
simon
2021-07-15 18:10
You can setup a startup in Japan, multiple cities offer ?easy? startup visas.
Most EU countries offer some sort of program, for example France has a Passeport Talent. https://france-visas.gouv.fr/en_US/web/france-visas/international-talents-and-economic-attractiveness
omocha_10
2021-07-17 08:13
Lithuania lunched it?s e-residency program.
https://micropreneur.life/the-e-residency-program-of-lithuania-just-launched-but-its-still-in-its-early-alpha-stage/
benjamin
2021-07-17 12:46
Are there any real benefits to Estonia and Lithuania programs if you don't live there? Surely businesses set up there would just be tax resident in your real home due to PE rules?
jase
2021-07-19 12:31
professional athletes too (to get them in before an olympic games)
stolzlos
2021-07-19 14:19
@simon I checked the below link but I could not find any reference to patents. You got additional information on that? Thanks!
https://www.edb.gov.sg/en/how-we-help/incentives-and-schemes/tech-pass.html
simon
2021-07-19 14:38
The patent route is called ?Innovator?, you can see the requirements here:
https://www.mom.gov.sg/passes-and-permits/entrepass/eligibility
felix
2021-07-20 14:24
Did anyone receive the Portugal NHR as a non-EU/non-Swiss/non-EEA citizen? I am reading up on the requirements and from a quick first research it looks that only people who got granted the Golden Visa (investor visa) are eligible for the NHR status. Is that correct?
oscar3000
2021-07-20 14:54
From my understanding, to be able to apply NHR you should first apply for Portugal residency.
T� get residency status you need to be EU citizen. So if you are not EU citizen your option is the Golden visa.
himself
2021-07-20 15:02
Not my understanding, going through the process now. The NHR is applicable to any foreigner who takes up legal residency in Portugal and hasn?t been a resident in the past 5 years.
himself
2021-07-20 15:02
Most non-eu/eea/swiss are getting residency through the golden visa but it?s just as applicable on D7 visa, family of EU citizen visa. That?s what local immigration lawyer told me anyway?
felix
2021-07-20 15:09
Thank you George. Reading more on that right now online, this is my understanding correct. Looks like the steps are as follows:
1. Get residency under Golden Visa, D7 or family of EU citizen
2. Apply for NHR
alessio.zazzarini
2021-07-22 15:26
Does anyone tried to get the digital nomad Visa for Georgia as non EU citizenship? And if you succeeded can you describe the process?
demmbox
2021-07-22 22:11
Why do you need a visa for Georgia? It's welcoming people 365 days a year
fish
2021-07-22 22:54
From what I can understand the remote working visa is actually a trendy sounding normal visa
francoisleblanc007
2021-07-24 15:46
We're Canadians who got in on the remote worker regime in Georgia in March, its actually not a visa but a visa exemption and its kind of rendered useless now that most nationalities can come in for a year with pretty much only a PCR test. Hope this helped.
kuka
2021-07-24 17:36
Can confirm, in Tbilisi atm. Met lots of foreigners, just a PCR test if you?re unvaccinated.
gastan
2021-07-29 17:31
I am interested too... Been checking embassy in Guatelmala and it's quite hard to get a date these COVID-1984 days
2021-07-29 23:04
This message was deleted.
ashishbhatia.ab
2021-07-30 21:51
EU passport in a year for 100K Euro!
ashishbhatia.ab
2021-08-01 19:09
burrup.lambert
2021-08-01 19:15
Nice follow up! I actually saw the IMI article first, which linked to the BusinessTech article, but I only posted the BusinessTech article.
ashishbhatia.ab
2021-08-07 21:24
ivan.lakatos
2021-08-10 07:16
No restrictions at all when you have proof of vaccination?
kuka
2021-08-10 08:49
Nope, I arrived here three weeks ago and it?s been fine
marziovit
2021-08-11 11:26
Ok so they basically ruined the program. In no particular ordr: 1. 90 days minimum stay, 2. $10K minimum monthly offshore income, 3 $280K deposited
koshis
2021-08-11 11:29
Yep. Sad.
maticko
2021-08-11 11:33
?The government is introducing this category (ages 35 to 49), so that only participants who are financially stable and with permanent employment can apply for the MM2H programme,? said Wan Ahmad Dahlan.
maticko
2021-08-11 11:33
lol
ben659
2021-08-11 20:36
I?m too young to apply now :disappointed: Asinine assumption that only 35+ year olds are financially stable
vinodgn0088
2021-08-12 14:36
In short, they don't want nomad or international entrepreneurs. They have already killed the Labuan route and now MM2H too.
maticko
2021-08-12 14:39
:confused:
marziovit
2021-08-12 14:45
@vinodgn0088 what happened to the Labuan offer they had in the past?
vinodgn0088
2021-08-12 15:42
@marziovit, Visa renewals has become very difficult. Almost all internet business are now no longer treated as Labuan activity and thus need to pay normal corporate tax instead of 3%. Now got substance requirements in Labuan. They are changing the tax rules every now and then as they please. Not worth anymore.
support
2021-08-12 18:05
anybody in here who has sucessfully gone through Portugal?s NHR program?
ivan.lakatos
2021-08-13 08:13
Great
anton
2021-08-13 09:08
Currently going through it :wink:
mohd
2021-08-14 15:23
Anyone has any more details on this?
oscar3000
2021-08-14 18:19
I?m in Costa Rica now (part of my business trip). I don?t think digital nomad visa worth it. More than slow beucracy, showing $3000 proof of income and more ? no make sense.
In Costa Rica after passing the tourist fire wall (high cost) you easily can leave around $1500 / month including everything.
Travel insurance obligatory both ways tourist and nomad visa.
Costa Rica charges fee anytime leave the country - hundreds of thousands are going out and in the country to renew tourist visa for 90 days.
Digital nomad visa isn?t replacing residency tax country only stay permission - but as digital nomad you move between countries anyway
oscar3000
2021-08-14 18:20
Replied above
mohd
2021-08-14 18:23
Thanks
mohd
2021-08-14 18:23
They talk about no local taxes
mohd
2021-08-14 18:23
is that not true?
support
2021-08-16 09:24
Awesome, I'm going to be doing it this year. I would love to connect :slightly_smiling_face:
burrup.lambert
2021-08-16 23:56
Any Portuguese crypto tax experts here? What is the situation for a Portuguese citizen in Portugal trading cryptocurrencies individually (not as a business), specifically, crypto futures? I ask because sometimes derivatives are treated different.
tiagomdreganha
2021-08-17 15:01
There are no defacto crypto portuguese tax experts as the portuguese tax man hasn't touched crypto except the "informal" info they put out stating that they don't consider it taxable as long as it's not a business/professional activity.
That should change any day soon as crypto becomes too big to ignore.
Trading futures, IMO, would likely be considered as a business activity.
Now, has the tax man ways of knowing if it's from HODL'in or trading? That's another discussion...
tiagomdreganha
2021-08-17 15:04
Personally, I sell and rebuy my holdings every year / market high, so that my "unrealized profit" resets, to protect myself the day/year they start taxing crypto
burrup.lambert
2021-08-17 15:28
The Portuguese Tax Authority did some clarification in 2016 which is what I think you are referring to.
tiagomdreganha
2021-08-17 15:29
Yep this is it, it's actually binding so that's better than what I thought
ashishbhatia.ab
2021-08-17 21:53
Has anyone applied for Paraguay residency recently? Recommend lawyer? How much to pay? (I'm getting quoted 1800$ package)
russ7
2021-08-17 21:57
I don?t have an answer to your question ? but why Paraguay? I am potentially shopping for a new country.
ashishbhatia.ab
2021-08-18 00:56
I'm looking for an easy option in LATAM mercosour. Argentina has borders closed. So, Paraguay feels like the right option to be given than I'll get a PR directly.
omocha_10
2021-08-18 01:15
If there are no changes, Argentina is opening, also giving free air travel to tourists coming from LATAM.
oscar3000
2021-08-18 01:21
Amazing news @omocha_10 Im in Costa Rica now.
Do you think possible to enter Argentina now? (No vaxxed)
burrup.lambert
2021-08-18 03:20
Argentina is still closed to tourism. There are talks of opening up tourism for fully vaccinated tourists (2 doses).
oscar3000
2021-08-18 03:22
Bye bye Argentina :confused: I bet that until March 2022 Argentina won?t be anymore the same (major anarchism and economy crash) :worried:
It will happen in more countries including Europe. Record me words :bow_and_arrow:
simon
2021-08-18 03:37
@oscar3000 I'm not sure the Argentine economy can crash more than it already has! As for the border restrictions, I've heard they are planning to reopen the land borders?
oscar3000
2021-08-18 04:27
I agree @simon Argentina already in the floor 1? = 200peso
I meant to complete broken and probably due to civil revolution (Anarchism) - as said before it may happen in more countries at the same time.
To reopen land borders; I read that from September 9th area they will allow trial entry allowance to Uruguay and Chile citizens (vaccinated) foreigners for now won?t be allowed in near future.
giovannilaperna
2021-08-18 05:59
I'm resident in Paraguay, I've done everything with
Jeronimo Finestra 3 years ago. I don't remember how much I spent. I can send his contact in private message.
omocha_10
2021-08-18 09:01
In Argentina goverment is slowly opening and easing restrictions, concerts gradually starting, also people going to football matches first time since covid started.
Also allowing tourist and paying plane tickets for LATAM tourists.
One storyline says that goverment is doing this to reach the next elections in SA spring.
Which makes no sense, if you look to the covid charts(at Google) from Israel, cases are spiking very fast, also in many Euro countries cases X4 during last 30 days.
So the restrictions should stay, but Argentina is Argentina, in last December cases were growing all around and they opened everything.
To me looks like lots of uncertainty in the near future due to covid, situation in Middle East.
Argentina can go much lower I believe, not as Venezuela or Zimbawe, but half way.
There is a narrative going on that China is behind the mess in Argentina to create an SA Cuba or Venezuela.
I don?t know, but won?t put any money over there. IMHO
hello888
2021-08-18 15:18
I'm not from Argentina, but I follow the economic news from there, IMO the country will end up like Venezuela (100%) unless some drastic change is made in the next 5 years, they are clearly on the path there, and the corruption level isn't going down.
My only hope is that Milei & Espert grow politically, the fact that Milei is growing very fast in popularity recently gives me a lot of hope that people aren't as asleep as they seem, so change still possible.
But if the government starts to expropriate more, more heavy lock downs, more active participation of the military for enforcing rules, once the smart people & entrepreneurs leave the country (as it happened in Venezuela in 2014-2016) it's game over.
I was doing the math the other day, if you had 1.000.000 ARS in 2008, you could buy a house back then, dollar at $3.16 ~ 280K USD
Today, dollar blue at $183 => you get 5.4K USD , so in 13 years, the state stole almost everything with inflation, without the fact that the USD has been going down as well...
But the same corruption problem is going on all around the region.
Lula in Brazil => should be in jail for corruption=> It's probably going to run for president for the next term
Keiko in Peru => should be in jail for corruption => Just run and barely lost the presidency for 0.1% or something
Cristina in Argentina => should be in jail for corruption => Vice president
(yeah of course some people will support all them to death, they are "innocent", but whatever)
etc etc the same story repeats for the entire Latin America pretty much, it's not an economic policy problem but solving the corruption problem IMO that could dramatically improve all these countries.
omocha_10
2021-08-18 16:51
AFAIK the Venezuela goverment is enforced by the military. I believe in Argentina there is no military to enforce that kind of dictatorship. Even military and police is destroyed in Argentina.
trevorjames
2021-08-19 21:20
Hi Nomad Dude, I'm going through the closure of my Labuan company now. It was classified under code 23 "other business activity" and will have to file under mainland now and pay 24%! Is this the change you were mentioning? So this effectively means Labuan is not a good option anymore and it's completely cut off as an offshore option?
trevorjames
2021-08-19 21:20
@vinodgn0088 ^above
trevorjames
2021-08-19 21:22
Its been a nightmare closing the company. the audit has been so complicated, my agents have been telling me to wait maybe we will get an update and there will be a change and we could get the 3% as some people were challenging it, but nope, not happening, deadline for filing is Aug 31st and we might miss the deadline now.
vinodgn0088
2021-08-20 05:05
@trevorjames, Don't expect any favor from LHDN. You need to appoint a tax agent . Open a new File-C, refile FY2019 under 1967 Income tax act. Then file FY2020 under 1967 Act. If you haven't liquidated your company initiate that as well. Once you have done all CIT filings for your company until the stike off date and paid all the tax dues, you can close File-C with LHDN and say a long good bye to Malaysia. If you are late to file returns, expect penalties from LHDN on top of CIT
vinodgn0088
2021-08-20 05:07
@trevorjames, Not sure if you are aware or not. If you have EP visa under your Labuan company you are liable for PERKESO contribution since Jan 2019. If you haven't filed this, you need to settle these as well. Otherwise it will causes issues later after strike off of your Labuan company.
alessio.zazzarini
2021-08-21 06:16
Hello Guys, I am going to move to Portugal and I am about to get the NHR status
alessio.zazzarini
2021-08-21 06:18
Do you know if It will be necessary for me to stay in Portugal for a specific amount of months in order to keep the NHR valid?
support
2021-08-22 16:55
Currently doing the same, you need to stay at least 1 day in Portugal for it to be valid. If you are there for more than 6 months, you will be charged local taxes.
omocha_10
2021-08-22 17:00
AFAIK you don?t need to to stay 3 or 6 months. But if taxes is what you are concerned about, it will depend on your substance in other countries.
I am not a professional accountant or lawyer.
jason
2021-08-23 19:09
Heading back to Panama this Saturday to (hopefully) get my permanent residency card if anyone's around.. @alex720 @ben659, plan to be there one week only and then it's back to the US
ashishbhatia.ab
2021-08-25 08:41
https://www.freedomsurfer.com/france-self-employment-visa/ - Is France's Visa de long s�jour still the best option for Schengen access? Also, if I spend only a few weeks in France, am I still eligible for renewal?
trevorjames
2021-08-28 05:33
@vinodgn0088 Hi Nomad Dude, thanks a lot for the information! yes it's been a nightmare! My wife and I got MM2H so I think the Perkeso thing wont happen, but we did hire one staff for 3 months and paid EPF for him but not the SOSCO I think. May I ask what is involved with the liquidating of the company? What are the CIT filings? Are those the normal 24% filings? As of now I just know the company is struck off, but what is the difference between that and liquidated? The audit is complete and nothing is owed and no one owes us anything, books are clear.
trevorjames
2021-08-28 05:35
We have a tax agent now, and she has just applied for us to get a tax number, and then from there we are going step by step. We moved to Dubai now, Malaysia seems to be so messy lately
trevorjames
2021-08-28 05:40
@vinodgn0088 are you going through something similar too?
vinodgn0088
2021-08-28 08:05
@trevorjames, If your company got struck off due to non-payment of LFSA fees then its ok. CIT means corporate income tax ( yes those 24% tax filings.) If you never held Malaysian EP visa, then you were never liable for SOCSO. If you paid EPF for your employee most likely you would have paid SOCSO for him as well. If not, discuss with tax agent on that matter as well. If you have plans to visit Malaysia in future, its best to settle all contributions and taxes now to avoid any surprise claims in future when you land in Malaysia again.
trevorjames
2021-08-28 14:41
@vinodgn0088 the company was struck off due to resignation of company secretary, is that Ok? I think we only paid for epf, not sosco or EIS. Maybe we will have to sign up for that as well. Do I have to be in malaysia to register for that?
trevorjames
2021-08-28 14:43
I think the company secretary resigned because we didn?t pay, I think that was the route they suggested
vinodgn0088
2021-08-29 05:03
@trevorjames, Opening up the company again is going to be a task and you will have to pay outstanding LFSA fees with penalty. I would suggest taking advice from your tax agent.
trevorjames
2021-08-29 05:05
@vinodgn0088 ok thanks man! Opening up the company again, that would be necessary to pay sosco or Eis?
trevorjames
2021-08-29 05:06
I will ask the agent on Monday, but I think earlier we spoke about it and deciding just to ignore it as I only hired one person for 3 months and I honestly didn?t know about that needed to be paid and can just tell them the truth if anything pops up
vinodgn0088
2021-08-29 05:10
@trevorjames, Since its just 3 months PERKESO contribution only I can't say a solid answer. But anything with Immigration and LHDN, please pay up every single penny and close the files properly. Otherwise it will be an issue for you later. Also, when it comes to final call, it should be always yours. By now, you already knows that how good is Malaysian laws and Incorporation agents and why you had to move to UAE in the end.
trevorjames
2021-08-29 05:12
@vinodgn0088 ok thanks man, sounds good! For immigration, what would that involve? We didn?t hire any foreigners, and we got the Mm2h just curious what that would involve?
trevorjames
2021-08-29 05:12
And LHDN is the mainland tax right, so I just pay the tax and then close the account?
trevorjames
2021-08-29 05:14
And yeah the incorporation agent?. He never advised me on any of this, had I known I would have done everything correctly
trevorjames
2021-08-29 05:14
Or never opened in the first place
vinodgn0088
2021-08-29 05:14
@trevorjames, Immigration - I was referring in general only. If you have, had any MM2H related visa fees dues just make sure all of them are settled. LHDN - Is the Income tax department of Malaysia
trevorjames
2021-08-29 05:14
He just wanted his commissions
trevorjames
2021-08-29 05:15
@vinodgn0088 ok great to know, thanks
vinodgn0088
2021-08-29 05:15
@trevorjames, 3% tax if you file tax under LBATA 1990 Act. 24% IF you file under 1967 Tax Act. You company needs to file under 1967 Act and pay 24% for both FY2019 and FY2020 and FY2021 (if your company was active during 2021)
trevorjames
2021-08-29 05:16
The company wasn?t active in 2021, no income in 2021, but it wasn?t fully stuck off until March 2021 I believe
trevorjames
2021-08-29 05:17
The rule changes are crazy?
vinodgn0088
2021-08-29 05:17
@trevorjames, Then your tax agent needs to file for FY2021 as well
trevorjames
2021-08-29 05:17
I guess lots of people are going through this
trevorjames
2021-08-29 05:17
OK
vinodgn0088
2021-08-29 05:18
@trevorjames, Who gave you the idea of running a Labuan business while on MM2H ?
trevorjames
2021-08-29 05:19
I don?t know I just sort of thought of it, it sounded like a good idea to get 3%. I opened the labuan before getting Mm2h
trevorjames
2021-08-29 05:19
The agent said it?s fine as long as I take no income
trevorjames
2021-08-29 05:19
And only dividends
trevorjames
2021-08-29 05:19
So that?s what we did
trevorjames
2021-08-29 05:21
@vinodgn0088 but I grew more and more not to trust the agent he was just a salesperson
vinodgn0088
2021-08-29 05:22
@trevorjames, it was also a wrong assumption. Under MM2H you are not allowed to work for the company. You can only be a director and hire others to do the job. In your case you were working without taking salary. Right? This was actually against the immigration rules. Anyway what done is done. Now onward make sure you read all rules before trusting these Incorporation agents blindly.
trevorjames
2021-08-29 05:24
@vinodgn0088 Oh wow! I didn?t know that?. I also spoke to one of the auditing firms I recall near the beginning and they said they see no issue with what I was doing? do you think I?m at risk of anything?
trevorjames
2021-08-29 05:25
Maybe I will follow up again about that with the tax agent? it?s been such a nightmare
vinodgn0088
2021-08-29 05:26
@trevorjames, No you are not at the risk of anything now. But the setup could have become an issue if you were running a Multi Million business without full time staffs to perform the job.
vinodgn0088
2021-08-29 05:28
@trevorjames, The clear route was going with Employment visa linked to your Labuan company. But that visa and tax regime also sucked in the end. To be frank I lost confidence in Malaysia and its rules.
trevorjames
2021-08-29 05:28
@vinodgn0088 Oh ok I see, multimillion ringgit?
vinodgn0088
2021-08-29 05:28
Yes, Ringgit
alessio.zazzarini
2021-08-29 09:42
Thanks for your answers and your support. I appreciate it
alessio.zazzarini
2021-08-29 09:44
I believe that if you want to be use the NHR tax scheme you shouldn?t stay in other countries for more than 6 months. Otherwise they can claim that you are tax resident there
omocha_10
2021-08-30 06:57
Yes.
I find helpful to divide this topic into 2 sections.
1.Conditions to be considered a tax resident in a given country.
and separate from that:
2.Conditions/requirements to not have your tax residency in that country challenged by another country.
For example, you are a German national.
1. You move to Let?s say Malta. You register there and do everything they ask you to do.
Your plan is to not stay more than 182 days in any country.
2. You can?t have a house, a car, a family in Germany or other country, because even if you don?t spend a week over there, it could be considered as your ?centre of interests?.
Hope this helps you
alessio.zazzarini
2021-09-02 11:08
@omocha_10 Very great explanation thanks!
felix
2021-09-02 12:52
Hi Surfers, I am wrapping my head around the NHR and trying to understand how the taxation works, not so much the application process. Assuming someone has received the NHR status, from my research the following appeared to be true (please correct me when I am wrong)
? If the person is physically present in PT the income received during that time is deemed locally sourced and therefore will be taxed at 20%
? If the person is abroad, the income during that time is foreign sourced and therefore tax-free
? The LLC hack doesn?t work, because everything the WY LLC earns is pass through income and will be taxed on shareholder level and therefore as personal income of the NHR resident
? It?s possible that the WY LLC is owned by a holding that is not taxing foreign sourced income (e.g. Panama, Paraguay, etc.). Therefore the income would be received by the holding and not by the NHR resident and would arrive tax free in the holding.
? If the holding pays out income only when the NHR resident is outside of Portugal, this income is considered tax free.
? To maintain tax residency in Portugal the NHR resident doesn?t need so spend time in PT
Questions:
? Since both individuals and companies are taxed where work is performed. Would this deem the foreign holding a local Portuguese company? Is that also true if the holding company is only paid while the NHR resident is abroad (e.g. not on a monthly basis, but irregularly throughout the year).
? If the NHR resident is working for a UK LLP and this company would be deemed tax resident in PT because work is performed from inside Portugal, would all income become taxable in PT even if the NHR resident is only owning 40% on the UK LLP?
? If that is the case, what would you suggest to avoid that?
? I have read that Portugal is not allowing companies from anywhere and so it?s important to know if WY LLCs and UK LLPs are allowed.
As always thank you for providing your collective insights! Looking forward to your comments.
omocha_10
2021-09-02 17:37
Glad to kmow, but remember I am not a professional, barely finished high school. So if you want 100% sure hire a pro and explain your personal situation. Good luck :four_leaf_clover:
sergiy.shlykov
2021-09-03 11:49
Did some research and spoke with Portuguese tax lawyer and an accountant, asked some of the similar questions.�
1. Indeed, the companies are deemed local if the active work is performed locally. You can combat this by being able to prove that you do not do active work. As far as I understood, having a hired director with a contract and paid salary with money trace is a good solution for this. Of course if you still manage the company this would need to stay under-the-radar. You would also have to pay this director a market rate salary, but market rate of which country? country of registration? country of directors residence? Portugal? This one is still unanswered.�
2. How many other owners are there? From my understanding after communication with a tax lawyer, a company can be deemed not permanently established in PT if the majority of the directors and shareholders are outside of PT. Usually this means having 3 shareholders/directors and 2 being outside of Portugal
3. Indeed, there is a blacklist. UK US works, but a bunch of traditional offshore jurisdictions don?t. Here?s the link: https://horizonconsulting.pt/wp-content/uploads/2019/03/Portugal_NonHabitual_Residence_Regime.pdf Some traditional offshore jurisdictions like Hong Kong, UAE and Panama work because they have DTA?s with Portugal and this allows you to receive dividend income from them, although this is grey area and i am yet to have a ?comfortable? conversation with a tax lawyer who can propose an effective structure involving these. Belion partners say that they offer this, but they are pretty expensive and i might keep my US LLC/UK LLP setup anyways.
So far i am leaning towards hiring a director for my US LLC/UK LLP, but this opens up the whole local taxation for the director?s salary situation which is unclear. I still need to have follow up conversations on how to set it up. Also, this still requires you being not public about your active work on your projects, i?m not sure what it is going to look like in practice. This heavily limits marketing opportunities for startup founders. Curious to see what others think of this.
felix
2021-09-05 03:21
Thank you a ton for your input, @sergiy.shlykov. Super valuable.
The LLP has to shareholders, both are corporate entities. The 100% shareholder of one of the entities (WY LLC) holds 40% on the LLP and is residing in PT under the NHR.
I think you pointed out a very interesting differentiation between performing work in a certain function (e.g. COO) and separated from that being a director of the company. You can be a ?freelanced? COO for the company without being a director and actively ?managing? the company on a board level. This might answer Q1 and Q3 (exposure of founders to drive marketing opportunities).
I am curious to hear the results of your ?comfortable? conversation. This is indeed very interesting. Reading from your comment it seems that if the jurisdiction has a DTA with Portugal and is not on the blacklist, you can receive dividends. Question is only if the dividends are deemed as income (20%) or in another way with a different tax rate.
vinodgn0088
2021-09-05 11:41
@felix, First of all Portugal doesn't have a tax transparent legal entity form like UK LLP. If you manage LLP and work from Portugal, most likely the UK LLP will be deemed as a corporate entity having PE in Portugal and all the earnings of PE will suffer Portuguese Corporate tax and then dividend tax. This is not well tested before so I strongly suggest you get a NIF number and get an advanced ruling from Portugal tax department. In my view Portugal NHR is good for passive income sources. If you want to run an active business, you need to have a company which is tax resident in another country with local substance in that country and nil activity or zero client in Portugal.
felix
2021-09-06 08:47
Thank you for your input @vinodgn0088. The idea is to have a proxy entity (e.g. WY LLC) before the LLP that holds a certain percentage in the LLP. I read somewhere that the LLC is somehow in the grey zone in Portugal (besides being tax transparent). The LLC will have zero clients in PT, but obviously some activity.
Is anyone in this channel rocking a Portugal NHR? I am curious about how you have set this up.
alessio.zazzarini
2021-09-12 07:49
Thanks Mario, I have also hired a law firm in Lisbon. Have an amazing day
ben659
2021-09-13 16:32
I know a lot of people have NHR setups in the grey-area (they just claim a foreign residence) and haven?t been investigated.
ben659
2021-09-13 16:34
My lawyer in Portugal was unable to say what would happen to them were they to actually be scrutinized, but she did say that they can decide to audit up to five previous years. I decided not to risk any Portuguese setup that wasn?t crystal clear, and went somewhere else to work as a freelancer.
anton
2021-09-14 07:18
yeah sure send me a dm!
tiagomdreganha
2021-09-15 13:46
Just got temp residency visa aproved for Mexico. Had to show bank movements for the past 12 months to prove self suficiency and a quick interview at the embassy.
mikeseo
2021-09-15 13:52
nice, any MX tax requirements to maintain residency?
tiagomdreganha
2021-09-15 13:56
what do you mean by tax requirements?
mikeseo
2021-09-15 13:57
do they want proof you paid MX taxes to maintain your residency?
tiagomdreganha
2021-09-15 14:01
Don't think so. Haven't read that anywhere but I'm not sure.
In the interview the questions seemed directed at making sure I'm not going there looking for work.
tiagomdreganha
2021-09-15 14:03
I can get citizenship in 2 years because I'm a "Iberian Peninsula" citizen, generally it's 5
tiagomdreganha
2021-09-15 14:04
Para el caso del extranjero que sea originario de un pa�s latinoamericano o de la Pen�nsula Ib�rica, deber� exhibir original del documento migratorio vigente, expedido por la Secretar�a de Gobernaci�n, con el que acredite la legal estancia y, en consecuencia, la residencia en el pa�s durante dos a�os inmediatos anteriores a la fecha de la solicitud, el cual deber� tener una vigencia m�nima de seis meses, posteriores a la presentaci�n de la solicitud, del que se desprenda la Clave �nica de Registro de Poblaci�n, y
tiagomdreganha
2021-09-15 14:05
idk what evidence they ask for to prove the residency other than the actual resident visas
tiagomdreganha
2021-09-15 14:05
need to find that out
tiagomdreganha
2021-09-15 14:07
Can't be out more than 6 months in a row I think:
Art�culo 21.
Las ausencias temporales del pa�s no interrumpir�n la residencia, salvo que �stas se presenten durante los dos a�os anteriores a la presentaci�n de la solicitud y excedan en total seis meses. La residencia a que se refiere la fracci�n III del art�culo anterior, deber� ser ininterrumpida.
Lea m�s:�https://leyes-mx.com/ley_de_nacionalidad/21.htm
mikeseo
2021-09-15 14:12
cool, where you gonna stay? I did Ensenada for a few months, convenient to go to San Diego and there's a nice wine valley there
tiagomdreganha
2021-09-15 14:14
Only been to Puerto Escondido so far, a bit too dusty for me but I liked the slow pace of living vibe. Going to try Playa for a bit
umesh.desai
2021-09-15 15:10
I was in playa for a while
umesh.desai
2021-09-15 15:10
join the FB groups for the area, very useful
pierrekotarski
2021-09-15 16:23
Let?s say I have a residency in Portugal and need to be 183 days there to keep it. Are any trips in the *Schengen Area* (big emphasis on Schengen) counted as ?you not being in Portugal??
simon
2021-09-15 17:16
@pierrekotarski Assuming you want to maintain tax residency, there?s no requirement to spend 183 days if you maintain a permanent address in the country.
https://taxsummaries.pwc.com/portugal/individual/residence
koshis
2021-09-16 09:31
Has anyone applied and received a Freelance visa in the UAE?
Which freezone did you opt for and what were costs
ben659
2021-09-16 20:27
Did you have to get your bank statements apostilled/certified?
ben659
2021-09-16 20:29
I dropped by Orlando when I was in Florida to try at the embassy but they didn?t accept my statements because I?m not a US national and they would have to be apostilled. I have another appointment in Madrid and this time I have 1 year of brokerage statement apostilled. Unfortunately I can?t do it in my home country cause the embassy isn?t accepting visa appointments right now, but it should be all good in Spain with certified docs.
ben659
2021-09-16 20:33
I?m also interested in this - people don?t seem to talk much about the Freelancer visa option
tiagomdreganha
2021-09-16 21:19
I did it in my home country so didn't have to get anything apostilled.
The embassy in Portugal was also not accepting appointments, I was going to do this last year and couldn't, they just resumed it a few months ago
koshis
2021-09-17 08:10
I'm in Dubai atm hoping to get this sorted. I'll keep you updated.
antunesjordan
2021-09-17 14:45
Is there other countries delivering this kind of visa ? (Im not talking about Working Holidays Visa which are age limited)