0% tax residency

[troubled soul]

always there's some hidden interests around the friendship for some reason.

There is some self-interest behind every friendship. There is no friendship without self-interests. This is a bitter truth.

 

[pomegranate]

Lived in Thailand for 9 years to save on tax, Thai elite visa is super easy and great solution. You pay, 1 day later you become VIP with many nice perks but its mainly worth it for the freedom you get with it.

earnings that are not going inside Thailand are not taxed And If they are kept out for 1 year, later you can bring them in without paying tax.
I have there an apartment and bank accounts,
Not once was asked or mentioned anything about taxes or source of income.

when I lived there I was single, living the dream, unlimited supply of women, beach, luxury life style everything is affordable, quick and easy going, warm weather and good food. Not taking it for granted but as a young guy (now 37), At some point i felt like life passing by me and honestly I got bored. The culture is different, was not able to make life long friends, while you can have european style friends its not for life and always there's some hidden interests around the friendship for some reason. Also, being far from core family becomes harder with the years as everyone gets older. Flying to Thailand and from Thailand everry 3 months was ok but in past 2 years with all this corona it also became , hmm, complicated, not only in thailand, so its also less comfortable.

And last, while Thailand don't care about your source of income, when I wanted to send money to family for example that have western bank accounts, they didn't agree to accept the money saying they don't care if its legal NOT to pay tax in Thailand, they don't want the money. They want regular accounting from western country and proof of any tax payments.
Managed via transfer wise, but that's not comfortable with large amounts.

Its great experience, but I learned I enjoy more pay low tax somewhere to be left alone by the global tax greedy authorities and be around people with similar cultural habits. Just my 2cents

Lived in Thailand for 9 years to save on tax, Thai elite visa is super easy and great solution. You pay, 1 day later you become VIP with many nice perks but its mainly worth it for the freedom you get with it.

earnings that are not going inside Thailand are not taxed And If they are kept out for 1 year, later you can bring them in without paying tax.
I have there an apartment and bank accounts,
Not once was asked or mentioned anything about taxes or source of income.

when I lived there I was single, living the dream, unlimited supply of women, beach, luxury life style everything is affordable, quick and easy going, warm weather and good food. Not taking it for granted but as a young guy (now 37), At some point i felt like life passing by me and honestly I got bored. The culture is different, was not able to make life long friends, while you can have european style friends its not for life and always there's some hidden interests around the friendship for some reason. Also, being far from core family becomes harder with the years as everyone gets older. Flying to Thailand and from Thailand everry 3 months was ok but in past 2 years with all this corona it also became , hmm, complicated, not only in thailand, so its also less comfortable.

And last, while Thailand don't care about your source of income, when I wanted to send money to family for example that have western bank accounts, they didn't agree to accept the money saying they don't care if its legal NOT to pay tax in Thailand, they don't want the money. They want regular accounting from western country and proof of any tax payments.
Managed via transfer wise, but that's not comfortable with large amounts.


Saved tons of tax and was great experience, but I learned I prefer to pay low tax somewhere and to be left alone by the global tax greedy authorities and be around people with similar cultural habits.
Might retire to Thailand at 60
Anyways, Just my 2cents

Very interesting post - thanks for sharing your experience. What options are you currently considering? maybe Andorra could work for you?

 

[Fred]

Saved tons of tax and was great experience, but I learned I prefer to pay low tax somewhere and to be left alone by the global tax greedy authorities and be around people with similar cultural habits.
Might retire to Thailand at 60
Anyways, Just my 2cents

That's your point of view after you saved one decade tons of tax

Similar output I get from people living 5-10+ years in the UAE - they made there money and saved the tax so they could build a significant wealth and nice portfolios to even relocate back to high tax EU countries.

However when I take a look at EU right now it's even more the freedom that is going downhill together with overregulating everything and anyone. I would worry about this the most.