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Living on a boat and avoiding taxes
- Thread starter Fishbird
- Start date
Quote from eethie777:
heres my situation, i have the dual nationality, i am an american citizen and have mexican nationality, so i want to trade U.S. equitieswith a U.s. broker while living in mexico . Assuming i only make like 30k a year, can i avoid paying all taxes, or do i have to renounce U.S. citiizenship? I see this 80k figure being tossed aroung and "foreing income credit" does it apply to me?
No need to get rid of American passport.
1) Get physical address at tax haven.
2) Get offshore bank account with mexican passport and offshore address.
3) Open US brokerage account with mexican passport, offshore address and bank account. Don't use ssn or anything traceable by the IRS (US checking account, US address, whatever).
4) Cross your fingers and pay nothing to IRS or mexican Hacienda.
Quote from Perseus:
I would like to open a hedge fund, ponzi it for a while and finally take all my client's money. which country is the best to do that in and then where do I escape to?
No need to escape anywhere, you can do it in the US as long as you know how to cover your a**. You need good lawyers and someone friendly at the SEC though.
Quote from spike500:
What about opening an account with a Swiss broker and trading US-futures through this broker?
Does the Swiss broker give information about the owners of the accounts?
there is too much pressure on Switzerland from the US, it's not as it used to be.
I am looking at Gibraltar at the moment, been there recently, Costa Del Sol is within minutes (for fun), can fly to the UK any day of the week, a lot cheaper than Monaco, haven't checked out their schools as yet...will look into £10000 tax, interesting
I am considering applying for Canadian citizenship as my dad is Canadian and then renounicing my American citizenship, maybe go live in Easter Europe, where my wife is from or move to Canada. For tax reasons and political, but I don't want to stray off topic.
Unfortunately I don't make enough to worry about yet, but I know I will as I work very hard at my trading.
I have looked into the IBC in Panama, which is good, but to open a bank account there you need to to have 2 bank references, which are going to raise read flags and under the The Patriot Act I am confident my Credit Union manager will report me once I ask for a reference.
Does anyone know if you can open an account in Austria or Switzerland without bank references? Hell I may just forge those references if I have too, just kidding. I could open one in Latvia without them, but I don't know if I trust their banking system.
The problem comes from trying to repatriate the money, if you are still living in the US and trying to funnel it in from an IBC. You can't wire money from offshore to the US without being noticed. You might be able to wire it to an intermediary bank in a neutral, non-offshore country and then wire in to the US.
Check out sovereignsociety.com and escapeartist.com for so good starting info. I also like JJ Lunas book and his website howtobeinvisible.com
Unfortunately I don't make enough to worry about yet, but I know I will as I work very hard at my trading.
I have looked into the IBC in Panama, which is good, but to open a bank account there you need to to have 2 bank references, which are going to raise read flags and under the The Patriot Act I am confident my Credit Union manager will report me once I ask for a reference.
Does anyone know if you can open an account in Austria or Switzerland without bank references? Hell I may just forge those references if I have too, just kidding. I could open one in Latvia without them, but I don't know if I trust their banking system.
The problem comes from trying to repatriate the money, if you are still living in the US and trying to funnel it in from an IBC. You can't wire money from offshore to the US without being noticed. You might be able to wire it to an intermediary bank in a neutral, non-offshore country and then wire in to the US.
Check out sovereignsociety.com and escapeartist.com for so good starting info. I also like JJ Lunas book and his website howtobeinvisible.com
Quote from WD40:
try Hong Kong.
almost anybody and everybody can get a residency permit here.
no cap gain
no sales tax
no income tax for income not earned locally
narrowly defined income for tax purposes
other locale for consideration:
Thailand
Sri Lanka
Bali, Indonesia
Sri Lanka? With civil war?
Bali? With bombs and terror?
I prefer Europe/Italy.
Quote from romik:
there is too much pressure on Switzerland from the US, it's not as it used to be.
Do you think it's just a matter of time until the US bullies nearly all of the reputable banks (reputable from the perspective of an account holder, not the IRS) into participating in its patriot games?
Quote from Neoxx:
Given that Campione is uniquely situated between Italy and Switzerland, without falling under the jurisdiction of either (to my understanding), you ultimately have the advantages of Switzerland (e.g. communications, stability, banking etc) without paying taxes. And you are exempt from Switzerland's double taxation treaty with the US.
Understandably, Campione has the highest GDP per capita of any nation in the world.
More info about Campione:
http://www.offshore-manual.com/taxhavens/Campione.html