Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
My wife and I are considering this also. We are thinking Belize or Costa Rica, But if we move it will be with in a few years. we don't like the way we are loosing our freedoms in America. We will also change our Citizenship if we do this.
Thanks very much,
JCW I'd rather be
Can you help answer these questions from other members on NexusFi?
March 7th, 2013 . Costa Rica will begin a new tax information sharing system for both companies and individuals based in the country. The information will be shared with the United States and scores of other countries including the United Kingdom, Germany, Spain and France......
Yes, this is the case, Americans pay tax on offshore sourced income if they live outside the country. You will in most cases get a credit for foreign tax paid so you don't pay twice.
For those that qualify there is a foreign earned income exclusion of $97,600 (for the 2013 year) if you meet the requirements.
I'm not sure how the IRS would view trading income if you trade US domiciled instruments. It could be classed as "working in the US". It could be different if you are a plumber living in the the Bahamas doing plumbing work in the Bahamas as it is clear the income is sourced in the Bahamas
In any case it's essential to speak with a qualified US tax attorney prior to departure not an overseas based tax attorney.
I'm definitely going back to Tokyo after retirement. Good healthcare, high life expectancy, good education system for the kids, a big city so you can do anything you're interested in, the kindest people and service, and an attention to detail in everything (food and technology especially). [edit]
I would add that Andorra is not that expensive especially if comparing to Monaco like they do, it's in line with Barcelona it is 200 km from and from the Med sea. Big bonus is to qualify as a tax resident you don't need to live 183 days like in most countries, just 60 AFAIK. Another location is Canary Islands, European Hawaii, no tax on capital gain, no VAT (tax free zone), eternal spring and nice sailing route to Caribbean. Malta is also and option, not tax free but just 10% tax and next to Sicily, nice climes.
I also lived for 2 years in Dominican Republic, and all that talk about being a very dangerous place is nonsense. You are in much higher danger in any large city in any western country.
Guys, anyone considered to live aboard a decent yacht? Mobility, safety (of getting stuck in any country with rapidly deteriorating regime) and tax free, ability to live a bit in many countries around the globe..
Mike, Anguilla has all you look for, even more.
Also easy access through St-Maarten, wonderful beaches, very good restaurants, 4G network to work on the beach...
Some useful info here AnguillaIslands.com
you and me both bro! not sure what boquete means in espanol, but in portuguese it means blowjob
as a gringo living in a foreign country for a year now i can truly say it was a blessing to grow up in the US. Life sure is a lot harder (and unnecessarily so) in lesser/non-developed countries.
90 days indeed. No tax on capital gains. As a sole trader, you'd pay about 140 EUR taxes a year (60 for 1 car, 80 for a nice big rented flat) and that's it. Living standards are far from the hype of Monaco ! Atmosphere is closer to a village. Costs are cheaper than neighboring France, especially flat rentals since a lot of buildings are still empty from the crisis, food to some extent, insurances a bit. Lots of foreigners. You'll be introduced to traders easily as everyone knows everyone. 99% of territory is covered by fiber optic.
However now it's toughter to get in... you have to invest 13 times more than 1 year ago : 400k !
They indeed intended to meet Monaco like standards which appears a big joke. Actually they are already backing off and immigration laws are bound to change again in the coming months. The government reacts very quickly which is an advantage of being such a miniature country.
Anyway, right now I'd suggest that you run a small (internet) business parallel to trading and then residency is yours for 'free' (corporate gains will be taxed 2% if they come from oversea activity then no bond/financial/real estate investment required)