EMI that does not ask for proof of residence + bank statements?

[L1orB]

Are there any?

 

[Forester]

Are there any?

No, there are not – and cannot be. As well as you can, in general, avoid showing the bank statements, you cannot avoid showing the proof of your residence. All the financial institutions are obliged to ask for it by the AML/CTF regulations.

 

[L1orB]

No, there are not – and cannot be. As well as you can, in general, avoid showing the bank statements, you cannot avoid showing the proof of your residence. All the financial institutions are obliged to ask for it by the AML/CTF regulations.

What does digital nomads do? I fly a lot and hold no permanent address.. I don’t pay anything anywhere.

 

[Martin Everson]

What does digital nomads do?

They lie to themselves.

 

[Cloudbanck]

What does digital nomads do? I fly a lot and hold no permanent address.. I don’t pay anything anywhere.

Digital nomads usually have residency or at least bills in their name, but not tax residency in some country that can be used for opening bank accounts.

 

[Forester]

What does digital nomads do?

I have no personal experience with this; but

I fly a lot and hold no permanent address.. I don’t pay anything anywhere.

Digital nomads usually have residency or at least bills in their name,

having a residency address and the corresponding proof of it is not necessarilly related to staying there permanently. Perhaps this is not the topic that is to be dicussed here publicly but in Mentor Group you, @L1orB, probably can find some explanation...

but not tax residency in some country that can be used for opening bank accounts.

Well, tax residency of ”a digital nomad” is rather complicated problem, AFAIK; but from what I recall sometimes it is supposed to be in the last country of their regular tax residency, at least taxmen like to see it so

 

[Cloudbanck]

Well, tax residency of ”a digital nomad” is rather complicated problem, AFAIK; but from what I recall sometimes it is supposed to be in the last country of their regular tax residency, at least taxmen like to see it so

It depends somewhat on one's previous country of long term residence and country of citizenship, and when these coincide we can call it "home" country. If we put the US, Hungary, Australia and Norway aside, the taxman in one's "home" country will basically check if one meets the criteria for tax residency or not, and if not, that's it, one is not a tax resident in one's home country - and most likely no where else either.

 

[Forester]

It depends somewhat on one's previous country of long term residence and country of citizenship, and when these coincide we can call it "home" country. If we put the US, Hungary, Australia and Norway aside, the taxman in one's "home" country will basically check if one meets the criteria for tax residency or not, and if not, that's it, one is not a tax resident in one's home country - and most likely no where else either.

From what I have heard (neither personal experience nor being a direct witness), some taxmen insist on a proof that you become a tax resident elsewhere before releasing you from their claws...
But I definitely not consider myself being an expert re: this and if I faced such a situation, I would definitely seek for an experienced tax advisor.

 

[Cloudbanck]

From what I have heard (neither personal experience nor being a direct witness), some taxmen insist on a proof that you become a tax resident elsewhere before releasing you from their claws...
But I definitely not consider myself being an expert re: this and if I faced such a situation, I would definitely seek for an experienced tax advisor.

Just taxmen from the countries I listed, plus Spain that I forgot. And neither Australia nor Spain technically require you to be a tax resident elsewhere, but in practice being one and having proof helps.

And no, you dont need a tax advisor to leave the tax net of your home country, it is usually pretty straightforward. And anyway, most tax advisors are quite useless when it comes to international stuff.

 

[Forester]

Just taxmen from the countries I listed, plus Spain that I forgot.

Yes, the stories that I heard concerned Spain and some nordic country (i.e. possibly Norway), IIRC.

And no, you dont need a tax advisor to leave the tax net of your home country, it usually pretty straightforward.

Yes, may be.

And anyway, most tax advisors are quite useless when it comes to international stuff.

I agree; yet there are some quite clever. I've used one personally in the past

But let's not hijack the thread, tax residency and related issues are OT

 

[jafo]

What does digital nomads do?

They use the residence of relatives and friends!

There is NOT enough manpower to chase "unknowns & moving targets with unknown wealth."

PS. The exception is those who brag on social media or humiliate and belittle their friends and families with wealth. Many countries (maybe all?) have a rewards program, e.g., Whistleblower Office at-a-glance | Internal Revenue Service