As far as I understand you are regarded as non-domicile in Malta if you are a foreign citizen and didn't grew up there. Perhaps I'm mixing definitions here, but I personally know 3 people who have lived on Malta for years and only get taxed on what they remit. Of course, I do believe they never trade in their own name. I think one has an entity in Luxemburg and pays himself a dividend. And they certainly don't pay anywhere else as they are emigrated from their EU countries. Lots of opportunities for those who have managed to emigrate from their home country.
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Best Country for Trading (Tax efficiency)
- Thread starter ET873
- Start date
In Europe:
- for those who are already wealthy: Monaco
- for those who want to become wealthy, keep their cost low and still enjoy life in a nice country: Bulgaria. 10% flat tax, excellent internet, nice, large cities at the black sea coast (Varna, Burgas)
I really liked the idea of 10% flat tax and checked with some advisors: Yes, no problem tax wise, but aside from a required cyrillic background the potential payment expectations by other third parties made it uncalculatable. So I´ve put these plans to a rest.
Regards
One could afford it, can afford to pay +$20,000, but throwing away more money than necessary of good standard is squandering and make it take longer to build wealth.
McD? I do not eat at garbage stations, only organic and non-GMO food that I cook myself. I would visit the local wet market and buy the vegetables, meat, fresh fish and sea foods I want (crabs, lobsters, shrimps, prawns, etc).
If you are into cheap cost of living and low tax it's easy to move to a developping country, usually the poorer the country, the easier it is to get residence or long stay visa there and the more lax their tax department is - besides usually not taxing one's offshore income.
$900 for a good standard living is not realistic. At least not in a country where they can offer you a good standard living. In Africa you can live cheap, the deeper in the forest, the cheaper.One could afford it, can afford to pay +$10,000, but throwing away more money than necessary for a good standard living is squandering and make it take longer to build wealth.
$900 for a good standard living is not realistic. At least not in a country where they can offer you a good standard living. In Africa you can live cheap, the deeper in the forest, the cheaper.
Well, that is what a 1 bedroom apt. goes for here in northern europe, the nordic countries, denmark, sweden, norway, finland. Maybe we are spoiled with low housing costs that is not comparable with the rest of the world. You can get a nice unfurnished apt. in the capital cities Copenhagen, Stockholm or Oslo for that amount.
I really liked the idea of 10% flat tax and checked with some advisors: Yes, no problem tax wise, but aside from a required cyrillic background the potential payment expectations by other third parties made it uncalculatable. So I´ve put these plans to a rest.
Regards
@Hittfeld, what do you mean, what kind of cyrillic background would you need ? I know many germans that moved to Bulgaria without any problems. And which 3rd parties could expect payments from you ? Are you from Europe ?
I know people who pay any taxes anywhere. But one day they can have huge problems. In Euope normally you pay where you are domicilated. There are agreements between countries that arrange which country will tax what income. If you move from one country to another you should register in that new country and make a declaration in the country you leave. If you don't do that you can become stateless, which means no rights anywhere.
Many things that I read (also here) are illegal constructions. They work till they don't work anymore. Read what happened to Larry Williams, a trader that cheated. He didn't pay, till the IRS catched him.
The only good solutions are LEGAL solutions.
If you are satisfied with an illegal solution it is very simple: don't pay anything anywhere.
Many things that I read (also here) are illegal constructions. They work till they don't work anymore. Read what happened to Larry Williams, a trader that cheated. He didn't pay, till the IRS catched him.
The only good solutions are LEGAL solutions.
If you are satisfied with an illegal solution it is very simple: don't pay anything anywhere.
In Stavanger a 65 m² flat costs 400,000 euro if you want to buy it. And $200 for food?????Well, that is what a 1 bedroom apt. goes for here in northern europe, the nordic countries, denmark, sweden, norway, finland. Maybe we are spoiled with low housing costs that is not comparable with the rest of the world. You can get a nice unfurnished apt. in the capital cities Copenhagen, Stockholm or Oslo for that amount.
If you are into cheap cost of living and low tax it's easy to move to a developping country, usually the poorer the country, the easier it is to get residence or long stay visa there and the more lax their tax department is - besides usually not taxing one's offshore income.
It need to be a country that is safe for foreigners, low crime rate, clean environment, clean air and water, decent level of health care, good food. Poorer developing countries often does not fill all of these requirements. A few does.
Some countries allow you to extend your tourist visa forever, one can stay as a tourist for serval years. This way of living is called PT (Permanent Tourist or Perpetual Traveler).
And $200 for food?????
Well, that gets you around 1 hotdog per day in Stockholm, probably less in Oslo, I haven't been there for a while but remember the food was very expensive.
You just need to be very very frugal.
But Bln I was serious, if you are into a cheap cost of life and low tax, the developping world is a good bet.
But when you are an independant expat you need to pay for things which are provided almost free by european welfare states and a lot extra $ for imported goods considered like basics at home. Especially when you get a family, even in a shithole, life is likely to cost more than in Europe, and much more in a nice low tax country.
it's much easier for single guys though.
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