Yes count me in, following the thread with great curiosity.
Yes count me in, following the thread with great curiosity.Anyone else feeling defeated and brain hurting about trying to find a good solution anymore? Any thoughts or is this some kind of cycle?
Thailand is still very much a good solution. Build wealth whilst residing in, control your expenses so your remittance taxes are low - then head where ever you like and invest the wealth built into the rest of your life be it property at home or other.Yes count me in, following the thread with great curiosity.
What’s it like these days? When I was residing there there was constant gang killings in the eveningsSure. I live in the Bahamas.
How about establishing a corporation in the Bahamas and living in a Territorial Tax country? What banking do you recommend for a Bahamian Corporation?
What’s it like these days? When I was residing there there was constant gang killings in the evenings
I have no problems to pay some tax if the people called State would do their work and not just fill their own pockets. There is no trust any longer to the authorities anywhere.Someone needs to pay for "green" policies, growing bureaucracy, immigration support and vanity projects.
Same here.Yes count me in, following the thread with great curiosity.
What's your activity ?Same here.
I was thinking about going to Cyprus but maybe it wont work due to my activity
Territorial tax is not as great as it seems, of course better than not. But because Controlled Foreign Corporation (CFC) and Permenant Establishment (PE) tax rules, foreign sourced income means you can’t work on your business from the territorial tax country or local tax rules kick in. That means, technically cannot talk to clients, manage employees, do trades, consult, etc etc etc. It’s mostly for passive income businesses or dividends or investments working for you outside the territorial tax country. That works great for some but not the majority who work for money in some way. I’m not sure if that rule applies to all territorial tax countries but so far I haven’t found any that works the way we’d want it (remote work).
Part of my activity is sports betting, I've read that betting in non-licensed sportsbooks by Cyprus is not allowed.What's your activity ?
100% wtf right these days. I pay tax and still got fucked over by the state - so i made a promise never to pay one cent ever again -I have no problems to pay some tax if the people called State would do their work and not just fill their own pockets. There is no trust any longer to the authorities anywhere.
go to the north?Part of my activity is sports betting, I've read that betting in non-licensed sportsbooks by Cyprus is not allowed.
I have no problems to pay some tax if the people called State would do their work and not just fill their own pockets. There is no trust any longer to the authorities anywhere.
Having just moved to Cyprus, I can say that Cyprus is big enough that I don't feel constrained here. I think the true feeling of living on an island comes from living on SMALL islands. There are multiple cities here, all within a short driving distance, each with their own flavour and character and each big enough that they have enough stuff to do. In my previous country, I did not drive further than I do in my new country, and I took a plane to do most of my travelling anyway.The best option for you would be Polish IP Box at 5% tax if you qualify.
The next best option would probably be Malta's resident non domiciled company where you pay 5000€ tax year if foreign sourced income is over 35K (which is your case) + don't remember exactly how much on any sum remitted to Malta. You have to like island lifestyle.
There is Romania at 1% CIT up to 500K / year turnover + 8% dividends distribution but they are costantly changing rules.
Then there's UAE at 9% but you have to like the place.
At 12.5% there's Cyprus but you have to like island lifestyle.
Those are the first that come to mind, then there are 0% options more in the gray zone that involve creating usually a US LLC and taking tax residency in Panama, Paraguay or Thailand (without remitting anything in Thailand) where you rely on those countries not enforcing PE rules.
Where did you move from?Having just moved to Cyprus, I can say that Cyprus is big enough that I don't feel constrained here. I think the true feeling of living on an island comes from living on SMALL islands. There are multiple cities here, all within a short driving distance, each with their own flavour and character and each big enough that they have enough stuff to do. In my previous country, I did not drive further than I do in my new country, and I took a plane to do most of my travelling anyway.
Congrats with your new life. I was wondering how long it took you to find something well to live in and do you rent or buy?Having just moved to Cyprus, I can say that Cyprus is big enough that I don't feel constrained here. I think the true feeling of living on an island comes from living on SMALL islands. There are multiple cities here, all within a short driving distance, each with their own flavour and character and each big enough that they have enough stuff to do. In my previous country, I did not drive further than I do in my new country, and I took a plane to do most of my travelling anyway.
I rent - I used bazaraki which is an all-purpose classified ads site. Didn't take long to find a rentalCongrats with your new life. I was wondering how long it took you to find something well to live in and do you rent or buy?
I'm in Nicosia, the capital.Where did you move from?
How was the bureaucracy?
How long are you on the island? What city?
What more do you know about the healthcare here? I had to go to the emergency room bc I fell off my motorbike and cut my hand on the road. I also needed an xray to rule out a fracture. The first 'private' hospital I went to, they told me I would wait 2.5 hrs to be seen bc they were seeing GESY (public system) patients along with privates. I took a taxi to another private hospital and was seen immediately. The place was empty on a Thursday afternoon. I was not impressed with the skills of the emerg doc or of the orthopedic surgeon.Cyprus is OK
It has all the pros of a proper tax base including very reasonable taxation both on corp and personal level, non-dom, local laws are reminiscent of English law, food, nature and climate are OK, there are some proper schools and some entertainment.
It also has all the cons of a tax heaven including overpriced property market and terrible building quality, high prices on almost everything due to export, general laziness and low qualification of government services and tradesmen, exhausted healthcare and education and a constant construction.
It's also one of the few places where you can stay all year long and don't get washed away by a hurricane of suffocated to death by desert.
I am still considering Cyprus as my "plan B" tbh.
Every place has its drawbacks obviously. The pros of Cyprus for me were:Cyprus is OK
It has all the pros of a proper tax base including very reasonable taxation both on corp and personal level, non-dom, local laws are reminiscent of English law, food, nature and climate are OK, there are some proper schools and some entertainment.
It also has all the cons of a tax heaven including overpriced property market and terrible building quality, high prices on almost everything due to export, general laziness and low qualification of government services and tradesmen, exhausted healthcare and education and a constant construction.
It's also one of the few places where you can stay all year long and don't get washed away by a hurricane of suffocated to death by desert.
I am still considering Cyprus as my "plan B" tbh.
It's like the worst of British NHS and a typical southern healthcare system - they both make you wait for ages and then treat everything with ibuprofen and at the same time it's full of bored retirees who have nothing better to do than spending time in the hospital.What more do you know about the healthcare here? I had to go to the emergency room bc I fell off my motorbike and cut my hand on the road. I also needed an xray to rule out a fracture. The first 'private' hospital I went to, they told me I would wait 2.5 hrs to be seen bc they were seeing GESY (public system) patients along with privates. I took a taxi to another private hospital and was seen immediately. The place was empty on a Thursday afternoon. I was not impressed with the skills of the emerg doc or of the orthopedic surgeon.
Exactly, it's not a bad place overall. It's just not a "hidden gem", it's overcrowded, overpriced and full of Russians nowadays. But it ticks most of the boxes of a proper tax base/family place so it's on my list.Every place has its drawbacks obviously. The pros of Cyprus for me were:
-english is spoken enough that it just makes everything much easier. You can make friends with the locals.
-I've found the locals to be quite friendly and welcoming
-corp tax 12.5% - gov very easygoing with deductions from what my accountant tells me
-non-dom program for 17 yrs
-if you become the director of a company, you only have to spend 60 days here as long as you don't become tax resident elsewhere, so if you find it tedious, you can go live in 2 other countries for 5 months each. Nicosia is 40-44 degrees in the summer so leaving is not such a bad idea although you can just go to Ayia Napa like the locals do.
What else is on your list?It's like the worst of British NHS and a typical southern healthcare system - they both make you wait for ages and then treat everything with ibuprofen and at the same time it's full of bored retirees who have nothing better to do than spending time in the hospital.
Never used ER, so have nothing to say.
Exactly, it's not a bad place overall. It's just not a "hidden gem", it's overcrowded, overpriced and full of Russians nowadays. But it ticks most of the boxes of a proper tax base/family place so it's on my list.
It’s the same where I live. The retirees and even many younger people (especially women) are bored and think that doctors are their best friends. When they don't know what to do, they invent some kind of illness, filling up doctors' offices and hospitals! When someone who is truly sick comes in, there are long waiting times.they both make you wait for ages and then treat everything with ibuprofen and at the same time it's full of bored retirees who have nothing better to do than spending time in the hospital.
Campione d’Italia any info? - there are some good places discussed here, I mentioned a few jurisdictions we considered.What else is on your list?
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