Factor | Canada | New Zealand | Ireland |
---|---|---|---|
Language | English | English | English |
Similarity to US culture | High | Medium | Low |
Climate | Varies, but generally cold winters | Mild | Mild |
Cost of living | High | High | Medium |
Taxes | High | Medium | Low |
Economy | Strong | Strong | Strong |
Job opportunities | Good | Good | Good |
Public transportation | Good | Good | Limited |
Where would you go? For an English speaker that's not one of the three I mentioned for "overall tax residency" with no or less days physical presence
Marzio interesting less talked about middle of the road option besides the usual island countries people talk about aside from St Kitts and Nevis, A and B, BVI, Caymans.... Barbados also has a non-dom option that I didn't know about until now...Barbados: no physical presence required
An individual is considered to be ordinarily resident if they have permanent accommodation available for personal use in Barbados and give notice to the Revenue Commissioner of intent to reside in Barbados for a period of at least two consecutive income years.
https://taxsummaries.pwc.com/barbados/individual/residence
Looking at my options right now... Florida, Texas, Puerto Rico, Northern Mariana Islands without a exit tax....Wouldn't it be easier to just keep your USA tax residency, while you travel around the world? None of the countries listed have lower PIT than the USA, unless you're making over $1M a year, in which case you'll have better options (Monaco, Italy's lump sum, etc.).
I think the physical presence requirement and exit tax is making me decide to not proceed to leave the USA...How important is citizenship ? You would really need to spend a lot of time physically there if it’s important.
Ireland: five years, then consecutively 365 days just before applying and then two years + processing.
Canada: the quickest with three years, and then another two years processing.
New Zealand: five years and a year processing time.
For all three you would have to spend like 70-80% per year year in the country and have your center of life there to have a realistic chance to get the citizenship.
You can easily google the exact physical residence requirements.
If you plan to leave eventually, and like most people, you plan to make more money instead of less, then paying the exit tax sooner rather than later will probably be in your best interest. It will only get worse.Looking at my options right now... Florida, Texas, Puerto Rico, Northern Mariana Islands without a exit tax....
I think the physical presence requirement and exit tax is making me decide to not proceed to leave the USA...