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0% personal tax country with low requirements for 1 years residency ?

#22
Piano said:
I am just planning to move to a 0% or low tax country in regard to personal taxes for 1 year , the requirements to get 1 year tax residency should be as low as possible , which countries would qualify ?

not Monaca for example :D
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btw georgia has free 365 day visa for everyone. if your income is sourced outside then you should be fine. but it depends on what is your end goal. you can get tax residence in cyprus for mere 60 days if that is truly what you're after but it won't be fast and cheap. otherwise any tax heaven or UAE will do.
 
#23
glengoolie said:
btw georgia has free 365 day visa for everyone. if your income is sourced outside then you should be fine. but it depends on what is your end goal. you can get tax residence in cyprus for mere 60 days if that is truly what you're after but it won't be fast and cheap. otherwise any tax heaven or UAE will do.
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How slow and expensive is that ? what would be the final tax rate ?
 
#24
it's visa-free travel, essentially. it depends on your passport but if you are from EU i think you can even go there with your ID card, without passport.

as for tax rate, it's territorial tax system so that depends on how you make your money. your question was about 0% tax and fast tax residence. there is no such thing. if you want fast residence, cyprus has 60 days option. if you want 0% tax, uae and tax heavens are available but they will require the 183 day stay like any other country.

since you do stocks, UAE would be the best option since even territorial tax system countries will probably tax your CG as income and not CG, hence no tax exemption if it is sole source of income.

additionally, you can try what i am planning next year: Cyprus company with Malaysian residence for trading?
 
#25
glengoolie said:
it's visa-free travel, essentially. it depends on your passport but if you are from EU i think you can even go there with your ID card, without passport.

as for tax rate, it's territorial tax system so that depends on how you make your money. your question was about 0% tax and fast tax residence. there is no such thing. if you want fast residence, cyprus has 60 days option. if you want 0% tax, uae and tax heavens are available but they will require the 183 day stay like any other country.

since you do stocks, UAE would be the best option since even territorial tax system countries will probably tax your CG as income and not CG, hence no tax exemption if it is sole source of income.
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I would settle for around 15% rate if you can get that in Cyprus ....forex , futures and stocks..if only 2months requirement , that is very nice ..
 
#26
ok, if speed is what you're after then cyprus is that. but you will have to set up a local company to trade through, instead your own personal brokerage account, otherwise you would have to register as self-employed and pay income tax on all your profits, plus healthcare and social security.

you would have to employ yourself as a director and pay yourself a (minimum)salary and of course taxes, healthcare and social security off of that. since you would be cyprus resident, the company would be considered domiciled there and any dividends you would make from stocks would require 17% attribution into cyprus' defence budget.

but at the end of the year you can simply pay yourself the profits via dividend from the company and you would pay nothing on that as cyprus non-dom resident, it would be tax exempt. you would have to also have property or rent one for residence purposes. and that is it, you have your 60 days tax residence.

it has quite an overhead and you will pay for the setup but there is nothing faster and cheaper. realistically, i'd say 3 month in total(1 month to set it up and 2 months for the 60 day period to kick in).
 
#27
glengoolie said:
ok, if speed is what you're after then cyprus is that. but you will have to set up a local company to trade through, instead your own personal brokerage account, otherwise you would have to register as self-employed and pay income tax on all your profits, plus healthcare and social security.

you would have to employ yourself as a director and pay yourself a (minimum)salary and of course taxes, healthcare and social security off of that. since you would be cyprus resident, the company would be considered domiciled there and any dividends you would make from stocks would require 17% attribution into cyprus' defence budget.

but at the end of the year you can simply pay yourself the profits via dividend from the company and you would pay nothing on that as cyprus non-dom resident, it would be tax exempt. you would have to also have property or rent one for residence purposes. and that is it, you have your 60 days tax residence.

it has quite an overhead and you will pay for the setup but there is nothing faster and cheaper. realistically, i'd say 3 month in total(1 month to set it up and 2 months for the 60 day period to kick in).
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Thanks ! What if I want to trade for a prop firm remotely outside of Cyprus and not for myself ?
any incorporators you would recommend ?
 
#28
if you would trade for a firm, that would be normal employment so any territorial tax jurisdiction would work or 0% income tax jurisdiction. the same as have already been said.

also as non dom in cyprus, if you work 90 days for foreign company, your income should be tax exempt. i guess it is something like territorial tax exemption.
 
#30
glengoolie said:
if you would trade for a firm, that would be normal employment so any territorial tax jurisdiction would work or 0% income tax jurisdiction. the same as have already been said.

also as non dom in cyprus, if you work 90 days for foreign company, your income should be tax exempt. i guess it is something like territorial tax exemption.
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You mean you have to work a minimum of 90 days to qualify ?

any other countries with only 60 days or around that number ? I have read Paraguay is
lax in that regard
 
#31
Piano said:
You mean you have to work a minimum of 90 days to qualify ?

any other countries with only 60 days or around that number ? I have read Paraguay is
lax in that regard
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No, the above is not related to becoming tax resident, you are considered a tax resident with the 60-day rule.

What is referred to above is one of the benefits non-doms have in Cyprus, which is the 100% exemption from income tax for salaried services rendered outside of Cyprus for more than 90-days in a tax year to a non-resident employer. In order to benefit from this there needs to be an employer-employee relationship and to be registered as an employee and be receiving salary.

If you are offering services and are invoicing for those services (so not being an employee) you cannot take advantage of this.
 
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