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What country would you choose to relocate to avoid taxes?
- Thread starter Spinat
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Antigua with Digital Nomad Visa looks good.
Only caveat I can see is they don’t offer tax certificate but if you live there +183 days you would automatically become tax resident.
Only caveat I can see is they don’t offer tax certificate but if you live there +183 days you would automatically become tax resident.
spot on. Switzerland is very expensive by any means and standardsI'd go for one of the island countries in the Caribbean but that is just me.Switzerland seems really expensive and Cyprus just doesn't interest me.
.If you can get the lump sum tax deal prepared for you by a good lawyer, it can be worth it as you get also very nice privacy with it and depending on how much you make, it can be a very low tax rate. Also people are very reserved so they will not bother you much.
So if I have two (fully legal and non-fake or some bulls**t like that) passports - could I remain in Dubai 365 days and just move in and out with another passport and have the 1st passport count towards residence?
I would try to fulfil your residency requirements with the passport you apply for your residency with. I would not try to outsmart them like that. It’s not worth the risk.
Well, technically I would be doing just that. I will wait for hard info so far.
Anyways, regarding the main thread, UAE seems to be a winner here for people who are building substantial businesses. I also liked the BUdapest suggestion, I know the city myself and believe me, there is a much higher supercar density than in some rich metropolises in Western Europe, so there's that. Business savvy will always find a way.
I can second the Croatia suggestion - I met a Canadian business owner in 2018 who moved his operation over from Guatemala (no kidding - he was there for a whopping 8 years) who moved to Croatia for(then unspecified) advantageous reasons. I guess we have that covered in this thread.
This leads to a question: is there any optimal set up for individuals who have not yet decided where to base their main operation because they have not yet identified that operation and only seek a way to minimize overhead for freelance operations?
No because they take a retna scan when you come in and out of the UAE. Therefore if your retna is attached to a different passport they will just link the two after an uncomfortable 30 mins in the back office..........................
What country would you suggest for someone that want a secure place to live but want to reduce taxes to a minimum?
Switzerland seems to me still to be valid same for Lichtenstein and Luxembourg or am I totally wrong?
Switzerland seems to me still to be valid same for Lichtenstein and Luxembourg or am I totally wrong?
Switzerland as its best combo for taxes/secure/quality of life.
Luxembourg/Liechtenstein -- very small and if you are younger maybe not best place.
Monaco also quite nice if you can do the min requirements -- good quality of life and South of France good climate -- city of Nice close.
Andorra also low taxes (10% flat), very secure, but also very remote (if you love hiking, calm, nature, snow then maybe).
Depends on what you want to do and whats important for you in the country of your residence.
In Switzerland you have to pay 'lump sum'. Which will be minimum of 70k EUR/year.
Because of this lump sum it's not so attractive.
Liechtenstein also has similar lump sum. Never heard about Luxembourg tax program?
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70k Lump sum -- depends if you are EU citizen or not.
As EU citizen for example also different other possibilities to get Swiss residency without lump sum tax..
Liechtenstein/Lux/Monaco also depends if you are EU citizen or not
Luxembourg IS part of EU mate. By default EU citizens can settle…
but no lump sum tax
You can get "residece" with EU passport in Switzerland without lump tax. But if no lump tax you will pay normal swiss taxes. It's not low tax.
Luxembourg is also not a low tax jurisdiction for residents.
Yes income tax is high, comparable to most neighbours like Germany or Belgium. But: long term Capital gains taxes are great on shares ect, no tax if you hold for more than 6 months.
Hi,
I dont know if you checked the income tax rates in CH for Zug, Schwyz etc --- depending how much people make, the tax income tax rate may still be much more favorable compared to other countries.
Also the type of income would be important.
Monaco is favorable for high income earners but costs are also higher which may for most people make it less interesting
This is some of the best advice that I have read on this forum. Most are looking for the ultimate 0% solution but the thing is that this is going to cause you just trouble. Establish yourself in a low tax residency country within EU and go spend most of your time in the place where you actually want to be. Keep it sensible, pay cash. A lot of people have been doing this since the beginning of Schengen / EU and chances that you are going to get caught are low. I still live in a high tax country but I spend considerable time in the med area because of weather and lifestyle and actually run my business from there. Nobody has ever asked my why I was in Spain for 3 months. As long as you run a legit business, do the paperwork and pay your taxes nobody is going to care.
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