What are the real ways someone from a high tax EU country can become a perpetual traveller?

[TheCryptoAnt]

PT is an internet urban legend.
Actually, if you spend your time traveling you get into way more tax troubles than without a nomadic lifestyle. (that’s assuming you are worth some efforts by tax authorities: they will not chase you for a few thousand $)
Don’t try to be a smartass.

The trick in my experience is to not have any income

 

[karishi]

The trick in my experience is to not have any income

Not having any income means living like a ghost. It depends on how much you inherit, because what you inherit will be what you will be able to justify as "yours". If you want to buy a house in europe without income, good luck, there will be questions for which the answer will be difficult

 

[TheCryptoAnt]

Not having any income means living like a ghost.

what

It depends on how much you inherit, because what you inherit will be what you will be able to justify as "yours".

Ive never inherited anything, I come from a poor background. I dont have many things 'on my name' neither, just some cash on Wise and a laptop+some clothes.

If you want to buy a house in europe without income, good luck, there will be questions for which the answer will be difficult

Theres no way on earth I buy re in Europe, I rent were I live (which is not in Europe atm)

But I can tell you that cash transactions from foreign entities/persons (by this I mean no financing) for flats/houses in the EU are very common and not as scrutinized as local transactions.

 

[karishi]

what



Ive never inherited anything, I come from a poor background. I dont have many things 'on my name' neither, just some cash on Wise and a laptop+some clothes.



Theres no way on earth I buy re in Europe, I rent were I live (which is not in Europe atm)

But I can tell you that cash transactions from foreign entities/persons (by this I mean no financing) for flats/houses in the EU are very common and not as scrutinized as local transactions.

Living like a ghost means having nothing, absolutely nothing in your name. I only have part of houses inherited from my father, shared with my mother and brother. No car, no wife, no kids, no scooter, no rental contracts ( pay everything cash ), nothing, just wise and UAE accounts.
Cash transactions might be less scrutinized but it all depends on how much cash we are talking about and where you buy. And a foreign entity usually needs a registered contact to buy something, while a foreign person might go unnoticed. It all depends, if I bought a 250k house in France, a country where I spend a month each year, and then have have nothing fancy in france, I could probably go unnoticed, but if I buy a house in Ibiza, which is not less than 600k for a 2 bedrooms, the hacienda would be on my neck in not much time.
And if you are a foreigner to live in the EU you will need to prove you have money, and if you buy something fancy you might get scrutinized. So in the end for a period of life, or for your whole life, not having any income might work, as long as you live under the radar, so forget the fancy cars. Dubai exists exactly for that reason, you can make a lot of money, pay no taxes on it, and actually spend it without worry, that's the whole "Dubai package"

 

[TheCryptoAnt]

Living like a ghost means having nothing, absolutely nothing in your name.

Checks out, Ive nothing on my name at this point.

just wise and UAE accounts.

Yeah this is legit.

Cash transactions might be less scrutinized but it all depends on how much cash we are talking about and where you buy. And a foreign entity usually needs a registered contact to buy something, while a foreign person might go unnoticed. It all depends, if I bought a 250k house in France, a country where I spend a month each year, and then have have nothing fancy in france, I could probably go unnoticed, but if I buy a house in Ibiza, which is not less than 600k for a 2 bedrooms, the hacienda would be on my neck in not much time.

Why buy and not rent? I see re as a liability unless it produces some income (rental/airbnb/etc) and if you live there only 1 month of the year then its kinda useless.

And if you are a foreigner to live in the EU you will need to prove you have money, and if you buy something fancy you might get scrutinized.

This is true but it doesnt apply to me as I have an EU passport.

So in the end for a period of life, or for your whole life, not having any income might work, as long as you live under the radar, so forget the fancy cars.

You can rent cars through your company, same with fancy houses, pay for meals, etc.
What you need is a travel blog.

Dubai exists exactly for that reason, you can make a lot of money, pay no taxes on it, and actually spend it without worry, that's the whole "Dubai package"

True but long term Dubai kinda sucks imo. For a few months of the year is fire I'll give you that.


Being a 'perpetual traveler' can be done and you dont have to move constantly but every few months. Some locations are very easy to work with, while others are less so.

Don't buy s**t, rent it.
Its a somewhat solitary life I'll give you that.

 

[uplana]

I watched the video,

TLDW;

1. Cut ties to your home country
2. Move to non CFC country
3. Start offshore company
4. Travel
5. Open corporate account for offshore company
6. Get a company debit card and use it for all of your personal expenses as well

5 can be the challenge. Not sure about 6.

Works well if you have to pay no taxes. No one will ever blame you nor will Wise have any issues if you do that.

 

[karishi]

Why buy and not rent? I see re as a liability unless it produces some income (rental/airbnb/etc) and if you live there only 1 month of the year then its kinda useless.

Well in fact I always rent everything. If you buy, that's something that gives you some ties to a place. Having said that, having at least one proprietary house is a good practice, since I will end up without a pension, but I'm going to inherit one, and in case I will sell that one and buy another one

You can rent cars through your company, same with fancy houses, pay for meals, etc.
What you need is a travel blog.

The Hacienda or any other Fiscal Authority is not made of idiots: They will go to the company and dig who's behind it and if the travel blog makes any money. And if you start faking things, you start getting into criminal offence, so you start risking jail time. Especially in your home country, if they put eyes on you. My advice, stay away from luxury in Europe, if you want luxury, Dubai is the place where you get it, because nobody will double check

True but long term Dubai kinda sucks imo. For a few months of the year is fire I'll give you that.
Being a 'perpetual traveler' can be done and you dont have to move constantly but every few months. Some locations are very easy to work with, while others are less so.
Don't buy ****, rent it.
Its a somewhat solitary life I'll give you that.

I currently live 4 months in Ibiza, 3 in Dubai, 3 in my home country and the rest depending on the year, usually France, Switzerland and Greece. so yes you don't need to change every two weeks, and as long as you lay low in the place where you risk most ( in my case it's my own country and spain ) not much can happen, you just have to respect the rules. But I am over 40, I've been doing this for 10 years, I'm sure I don't want family or kids, and if I ever wanted to settle down somewhere I would get 2 or 3 tax certificates in Dubai to be on the safe side and have clean money. But younger, more normal people, those who want a family and kids, need to be aware that at some point perpetual travelling becomes impossible. And you must think well about that point, because if you re-enter your home country with a lot of money, controls will be made. Remember that if you are not tax resident anywhere, you are technically speaking tax resident in your home country, so never go back there.

 

[TheCryptoAnt]

Well in fact I always rent everything. If you buy, that's something that gives you some ties to a place. Having said that, having at least one proprietary house is a good practice, since I will end up without a pension, but I'm going to inherit one, and in case I will sell that one and buy another one

Not my style but understandable. I dont want nothing on my name.

The Hacienda or any other Fiscal Authority is not made of idiots: They will go to the company and dig who's behind it and if the travel blog makes any money. And if you start faking things, you start getting into criminal offence, so you start risking jail time. Especially in your home country, if they put eyes on you.

The travel blog does make money in my case, its not a dummy website but a real income producing project. I even employ two girls through Fiverr.

You are overreacting imo, no tax agency is gonna go after you cause you rented a Rrari for 3 weeks while staying in the country for 2 months.
I left my homes country tax net years ago. The one im registered in now leaves me alone.

My advice, stay away from luxury in Europe, if you want luxury, Dubai is the place where you get it, because nobody will double check

My advice, stay away fro, Europe all together. And if you really like it dont spend more than 3 months out of the year.

I currently live 4 months in Ibiza, 3 in Dubai, 3 in my home country and the rest depending on the year, usually France, Switzerland and Greece.

You are geolocating yourself inside the same region by doing this, with the exception of Dubai.
I understand your concerns now.

Just dont do it.

But younger, more normal people, those who want a family and kids, need to be aware that at some point perpetual travelling becomes impossible.

Yeah, its fun to travel with the lil shits for a few years but eventually gets complicated as they get older and need school, etc

And you must think well about that point, because if you re-enter your home country with a lot of money, controls will be made.

Again, Ive no income. Im not coming back to no country with no money.

Remember that if you are not tax resident anywhere, you are technically speaking tax resident in your home country, so never go back there.

Im a tax resident in a country, I just dont make any money.

You seem to be confusing my situation with some sort of magical 5 flags/perpetual traveler history from 10 years ago type scenario.

 

[backpacker]

Remember that if you are not tax resident anywhere, you are technically speaking tax resident in your home country,

You should not and can not generalize.
It depends on many factors, starting with your home country's tax laws.