Easy territorial or zero tax residency without presence requirements

[JackAlabama]

Yes, there are many agents locally for that. Just pay them, wait 7 days, and you'll have the visa in the passport. They can even provide sufficient documentation regarding 'your business' for $20 extra.
After you got your business visa, you can open banks accounts (with Visa/Mastercard/UnionPay debit card, SWIFT transfers via app, transfers directly to foreign VISA card), open business, etc.
If you donate enough, you can even get citizenship and passport.



There is so much Chinese black money being washed there, that the six figures aren't anything worth of mentioning.
Over 60 different commercial banks, 9 specialized banks, and 87 microfinance institutions, they are there for a 'good reason'.
https://www.phnompenhpost.com/business/banks-record-new-growth-regardless-of-global-issues
First hand experience: they haven't done anything regarding the P2P transfers to my account, and I have deposited $50000 in cash without any questions asked.
BTW, nothing stops you from opening an account at all that 60 banks if you are paranoid, and even cashing out a million USD would be just $16000 per bank.




Keeping low profile is always good ;-)
You can talk with the bank, they have specialists for high worth clients.
They aren't like western bankers, they treat you like a customer and are there to help you.
I got bank employees to do wonders for me.

do you have a rec for such an agent?
I mean such that I dont have to look for one myself.

 

[wellington]

what will bank do when six figures drop on your account? Freeze, steal or sell the info to local gangs?

Only issue i see with this, is the following.

Crypto for example, or even non-crypto it is rather impossible these days for the average person to retain a bank account say in their native country (UK, EU) when non resident.

This leaves offshore banks, or banks in other jurisdictions, note there is CRS but it goes into a blackbox, i.e for example HMRC would get information for the Brit living in say Cambodia, but wouldn't have to forward it on, however HMRC would be abundantly aware of the users assets/banking etc.

Now when it comes to Cambodia, due to the recent crime gangs running pig-butchering the usual banking routes via Thai banking system to the wider world would be reduced and scrutinised more heavily on the Thai side, obviously some of the domestic banks bank via China, Malaysia, Vietnam etc as their corresponding to the greater world, thats important for funds flowing in -> say crypto to Cambodian bank and then Cambodia to external bank (note Cambodia would see this information and i am unsure on the tax there these days to do with crypto -> but reporting more on the flow). and funds flowing in say would be routed through these corresponding banks and then onto Cambodia (where sold overseas and transferred into Cambodia) so living of such would likely be ok, but bringing in swathes on liquidating wealth would have a big siren going off, which could cause unruly risks, or even kidnapping etc.

 

[JackAlabama]

Only issue i see with this, is the following.

Crypto for example, or even non-crypto it is rather impossible these days for the average person to retain a bank account say in their native country (UK, EU) when non resident.

This leaves offshore banks, or banks in other jurisdictions, note there is CRS but it goes into a blackbox, i.e for example HMRC would get information for the Brit living in say Cambodia, but wouldn't have to forward it on, however HMRC would be abundantly aware of the users assets/banking etc.

Now when it comes to Cambodia, due to the recent crime gangs running pig-butchering the usual banking routes via Thai banking system to the wider world would be reduced and scrutinised more heavily on the Thai side, obviously some of the domestic banks bank via China, Malaysia, Vietnam etc as their corresponding to the greater world, thats important for funds flowing in -> say crypto to Cambodian bank and then Cambodia to external bank (note Cambodia would see this information and i am unsure on the tax there these days to do with crypto -> but reporting more on the flow). and funds flowing in say would be routed through these corresponding banks and then onto Cambodia (where sold overseas and transferred into Cambodia) so living of such would likely be ok, but bringing in swathes on liquidating wealth would have a big siren going off, which could cause unruly risks, or even kidnapping etc.

afaik cambodia is not in crs (yet). So no data shared at least in theory. From the cambo side nor from Uk tax office to cambo. Although quite unlikely banks would be willing to open such (unless special clients).

However today, no one can be sure if data wont be leaked or sold otherwise.

 

[cryptofriendly]

So can I get paid for services or for royalty from some US/EU company? Usually EU banks don't allow business transactions on personal accounts, they require a separate business account for that

No one will stop you.
I had no bank question any incoming or outgoing transactions, no matter if local or SWIFT transfers.

How much is the citizenship?

It was 30k in 2002. Now it's around 100K-150K. It's an official donation, and it's an actual law.
There are also investment options with higher numbers, and possible naturalization after 7 years permanent residence.

Lots of Chinese (especially the business/mafia types) are doing it, as it has major perks, you can buy and own land, and you can even choose your new name on the Cambodian passport.
And with a Cambodian passport and citizenship you won't get extradited to China (well, that might not be true, as the Cambodian government has very close ties to China, and will do
everything if get paid).

https://www.khmertimeskh.com/509167...ived-cambodian-citizenship-in-last-12-months/

do you have a rec for such an agent?
I mean such that I dont have to look for one myself.

Nothing easier than that.
If you are in Phnom Penh, Cina | Travel

Other cities like Sihanoukville, Siem Reap, Kampot, etc. have local agents as well, for maybe $20 additional fee for getting your passport to PP and back, while you sip Martinis at the beach.

 

[JackAlabama]

No one will stop you.
I had no bank question any incoming or outgoing transactions, no matter if local or SWIFT transfers.


It was 30k in 2002. Now it's around 100K-150K. It's an official donation, and it's an actual law.
There are also investment options with higher numbers, and possible naturalization after 7 years permanent residence.

Lots of Chinese (especially the business/mafia types) are doing it, as it has major perks, you can buy and own land, and you can even choose your new name on the Cambodian passport.
And with a Cambodian passport and citizenship you won't get extradited to China (well, that might not be true, as the Cambodian government has very close ties to China, and will do
everything if get paid).

https://www.khmertimeskh.com/509167...ived-cambodian-citizenship-in-last-12-months/

Nothing easier than that.
If you are in Phnom Penh, Cina | Travel

Other cities like Sihanoukville, Siem Reap, Kampot, etc. have local agents as well, for maybe $20 additional fee for getting your passport to PP and back, while you sip Martinis at the beach.

sweet thanks a lot.

 

[jafo]

no one can be sure if data wont be leaked or sold

Exactly! Panama Papers et al.

 

[5K1PP3R]

How would major EU EMIs look at sending money from business accounts to Cambodia? Suppose there are invoices for IP royalty or AI systems etc.

And btw how is this better than UAE? I suppose I can also send myself 5 figures to FAB/WIO personal accounts? Or they won't allow it?

 

[Marketint]

It was 30k in 2002. Now it's around 100K-150K. It's an official donation, and it's an actual law.

Are you sure about that price? I thought 240k usd and another 50k administration fee. The public program.

Recently sent some visa agencies a message if they could help with a passport but got no responses.

 

[JackAlabama]

Are you sure about that price? I thought 240k usd and another 50k administration fee. The public program.

Recently sent some visa agencies a message if they could help with a passport but got no responses.

a place like that requires on the ground and sadly shooting a few mails wont yield much.

 

[cryptofriendly]

Are you sure about that price? I thought 240k usd and another 50k administration fee. The public program.

Recently sent some visa agencies a message if they could help with a passport but got no responses.

Agencies are good for simple visa issues and extensions, naturalization is another story, I don't think everyone of them got the connections to the Ministry of Interior.

But it seems that you are right and the price has increased because of all that Chinese demand. Gosh, I should have bough that citizenship for 30K in the past. And apartments were just $5K-$10K to buy then, but yeah, there were no streetlights in Phnom Penh at night then, weed was $2/kg at the market and an AK-47 $25 (handguns more expensive, as easy to hide), and most of the streets in Phnom Penh were unpaved...

Anyway, in this case, an investment of 305k in a project approved by the government (I guess one could create and present a project to the government and would have to bribe them to approve it) seems like a much better option than a donation. You could build an apartment block for that, keep some for yourself, sell or rent out some, resulting in having an own place to stay, a business, and Cambodian citizenship. And you could always resell it after becoming a Cambodian. Looking at the skyline in PP it seems that many Chinese got the same idea.

https://www.khmertimeskh.com/501374...rough-investment-everything-you-need-to-know/
Before, when I arrived first time:

Today:

 

[jafo]

a place like that requires on the ground and sadly shooting a few mails wont yield much.

#Bingo! You are 100% right on the money! This whole internet BS with communication gives +99.99% of people a false sense of security and accomplishment.

I have been calling this "boots-on-the-ground experience" for decades.

Source: Question - I've a Paraguayan residency - What're my real advantages now ?

Hence, I practically spend most of my time in China in the factories. If I take my eyes off the "ball," I will undoubtedly end up with a substandard product or a completely empty container filled with rocks!

As a matter of fact, many Chinese ADMIT to this dastardly behavior here:

https://www.reddit.com/r/HongKong/comments/p0gq9u/comment/h86u3wv

and explain why they do it.

This is NOT limited to "non-Western countries" either. There are some countries in Europe, one in particular, where we purchase chicken, vegetables, and fruits, and if one isn't there to oversee the process, they "freeze" the perishables in more water than "perishables," so when it arrives in Asia or North America and is thawed, it was more water than actual product! The worst part is that this Western rule-of-law democracy "defends & justifies" this criminal behavior with all kinds of sophistry and putrid logic!

It's so bad that they refer to me as Big H when I show up to oversee the preparation, packaging, and final logistics. They clearly apply Godwin's law to me to excuse their poor behavior and lack of integrity.

I have already written on OCT that I use CASH in China to establish Guanxi. The Chinese can't say "no" to cash as they perceive it (superstitiously), this will upset Caishen, the God of Wealth.

 

[JackAlabama]

#Bingo! You are 100% right on the money! This whole internet BS with communication gives +99.99% of people a false sense of security and accomplishment.

I have been calling this "boots-on-the-ground experience" for decades.
View attachment 6494
Source: Question - I've a Paraguayan residency - What're my real advantages now ?

Hence, I practically spend most of my time in China in the factories. If I take my eyes off the "ball," I will undoubtedly end up with a substandard product or a completely empty container filled with rocks!

As a matter of fact, many Chinese ADMIT to this dastardly behavior here:

https://www.reddit.com/r/HongKong/comments/p0gq9u/comment/h86u3wv

and explain why they do it.

This is NOT limited to "non-Western countries" either. There are some countries in Europe, one in particular, where we purchase chicken, vegetables, and fruits, and if one isn't there to oversee the process, they "freeze" the perishables in more water than "perishables," so when it arrives in Asia or North America and is thawed, it was more water than actual product! The worst part is that this Western rule-of-law democracy "defends & justifies" this criminal behavior with all kinds of sophistry and putrid logic!

It's so bad that they refer to me as Big H when I show up to oversee the preparation, packaging, and final logistics. They clearly apply Godwin's law to me to excuse their poor behavior and lack of integrity.

I have already written on OCT that I use CASH in China to establish Guanxi. The Chinese can't say "no" to cash as they perceive it (superstitiously), this will upset Caishen, the God of Wealth.

that is hilarious.

 

[jafo]

Gosh, I should have bough that citizenship for 30K in the past. And apartments were just $5K-$10K to buy then

Damn! What a deal!
Don't feel bad, though! I have figured out how to do company valuations, it's a long and arduous process, and establish my buy limit price. What I have failed 100% of the time to do is to sell at the top. In 4 decades, I am 62 for 62 at failing to sell at the top! If I were a batter in MLB, my batting average would be .000 - To say I have failed is an understatement. So, don't beat yourself on this.

Thank you for sharing all this information! It's certainly a wonderful and enlightening experience to see it from your perspective. I'm mulling it over. One never knows, and one can never be too careful.

PS. I visited Shenzhen in 1976 with my dad and HATED the fishing town.
On the other hand, I also visited Caracas, Venezuela with my parents and loved it. I'm glad I had NO money (I was a kid) then to buy anything because, mostly due to the "Venezolanas," I would have "invested" ALL my money in Caracas, Venezuela. - Yeah...I'm THAT stupid

 

[JackAlabama]

Damn! What a deal!
Don't feel bad, though! I have figured out how to do company valuations, it's a long and arduous process, and establish my buy limit price. What I have failed 100% of the time to do is to sell at the top. In 4 decades, I am 62 for 62 at failing to sell at the top! If I were a batter in MLB, my batting average would be .000 - To say I have failed is an understatement. So, don't beat yourself on this.

Thank you for sharing all this information! It's certainly a wonderful and enlightening experience to see it from your perspective. I'm mulling it over. One never knows, and one can never be too careful.

PS. I visited Shenzhen in 1976 with my dad and HATED the fishing town.
On the other hand, I also visited Caracas, Venezuela with my parents and loved it. I'm glad I had NO money (I was a kid) then to buy anything because, mostly due to the "Venezolanas," I would have "invested" ALL my money in Caracas, Venezuela. - Yeah...I'm THAT stupid

no blame really for the good venezolanas iykyk

 

[Marzio]

I'm glad I had NO money (I was a kid) then to buy anything because, mostly due to the "Venezolanas," I would have "invested" ALL my money in Caracas

You are talking about arepas, right?

 

[cryptofriendly]

Damn! What a deal!
Don't feel bad, though! I have figured out how to do company valuations, it's a long and arduous process, and establish my buy limit price. What I have failed 100% of the time to do is to sell at the top. In 4 decades, I am 62 for 62 at failing to sell at the top! If I were a batter in MLB, my batting average would be .000 - To say I have failed is an understatement. So, don't beat yourself on this.

Thank you for sharing all this information! It's certainly a wonderful and enlightening experience to see it from your perspective. I'm mulling it over. One never knows, and one can never be too careful.

PS. I visited Shenzhen in 1976 with my dad and HATED the fishing town.
On the other hand, I also visited Caracas, Venezuela with my parents and loved it. I'm glad I had NO money (I was a kid) then to buy anything because, mostly due to the "Venezolanas," I would have "invested" ALL my money in Caracas, Venezuela. - Yeah...I'm THAT stupid

I don't feel bad, Cambodia was a different place then, and I was 20 years old - not thinking about investing, but enjoying and surviving Cambodia without getting shot.
And I have had 2 citizenships/passports from birth already.

Always wanted to go to South America, but my Spanish is deteriorating daily, and I think that I am mindset wise better off here in Asia. Though Nicaragua is still on my list...

 

[jafo]

Though Nicaragua is still on my list...

For vacation, it's okay.

 

[pixbix]

UAE maybe? One could get a residence permit quite easily and cheaply, then 3 months per year for tax residency.

Visas to Thailand are not a problem. I'm in Thailand now and I spent a good chunk of last ten years here. They are talking about "restrictions", "being strict", "stopping people staying without proper docs" all the time, but in truth it's all very relaxed here.

Currently taxation rules of Thailand are changing and nobody is quite sure how it will end up, so maybe not the best time.

Still will cost you a few grands, both UAE and Thailand.

1. In the United Arab Emirates, citizens of the European Union, USA and so on, can obtain a tourist visa that allows them to stay in the country for up to 90 days within a 180-day period (meaning 3 months within a 6-month period). This means that you can indeed spend two periods of 2 months each in the UAE in a year, while adhering to the regulations regarding the maximum number of days you can spend there.

1 = TRUE OR FALSE?

2. However, to become a tax resident in the United Arab Emirates, other conditions and procedures are required. Obtaining tax residency may involve establishing a permanent residence, significant investments, or other specific criteria set by the tax authorities in the UAE.

2 = TRUE OR FALSE?

 

[JackieTsan]

Let's see and think like the countries: On one side I can keep good relationships with bigger economies and either sell them something or benefit from something else, on the other hand here's a few rich people who would like a residence for just 400 bucks a year... Yeah I'm picking the bigger economies side.

You either invest +100k or you will need to live there for a few months (4 to 6)

In which I can invest around 100k usd (or maybe a little more), and take tax residency less than 3 months stay? Thank you

Easy solution:
Get a yearly business visa in Laos or Cambodia, (or even both!) about $500 each.
Zero tax if you keep low profile. No CRS.

But you can’t take tax resident certificate as is the poster’s initial request

 

[daniels27]

In which I can invest around 100k usd (or maybe a little more), and take tax residency less than 3 months stay? Thank you

But you can’t take tax resident certificate as is the poster’s initial request

The certificate is worthless in most cases. Why? Because it is issued by the country that has low tax. You need to check the DTA details and what you other country may consider.

Habitual stay, vital interests, etc. are the common terms used. You certificate is essential worthless as France will consider your wife in Paris more relevant than the certificate of Transnistria where you stay 5 months.

You can marry some chick in the low tax place and you are fine even you stay in France 180 days and travel the rest in the US and Germany.