Living on a boat and avoiding taxes

F

Fishbird

Hi

Here in Europe taxes are stopping me from reaching financial freedom.
The more i make, the higher the taxes are pushed exponentially.
Moving to Switzerland is not an option anymore because renting/buying a house there costs as much as renting/buying 3 in EU.
All those tax-free countries are drowning in money and consequently prices are up.
Too far for my still small but profitable account.

While looking for other solutions to this, i came across the idea of buying a boat or yacht and then telling the government that i dont live in his country but on the water in variing countries.

Any captain here who can tell how this is handeled?
I think it only applies if you live on the high sea but maybe this is a forgotten way to save taxes.

Thanks
 
Quote from science_trader:

Croatia : no capital gain taxes, and very low cost...
More...
so if i trade in croatia i pay no cap gains on american stock market gains?
 
Quote from KevinK:

so if i trade in croatia i pay no cap gains on american stock market gains?
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No, you shouldn't. I haven't tried it personally, but it seems so.

By the way, I'm swiss and can tell you that you 3x evaluation is a little biased. If you want to be in Geneva or Zurich, it is perhaps the case, otherwise, prices aren't that high especially with the high (and denied by governments) inflation in EU countries and prices going down in Switzerland.
 
so if i trade in croatia i pay no cap gains on american stock market gains?
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depends... if your a US citizen you have to renounce your citizenship... then become a Croatian citizen and then you can trade US securities... but not US tax.

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The US is the only nation... to my knowledge that requires you to pay income tax on money NOT EARNED in the US. There are some, very little exceptions.

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Fishbird... you think you have it bad...

Try being in a 30% range over all for FEDERAL
8% for state
2% for local
and then ANOTHER 8% for Sales tax!

so you see where we get the money to go fight 15 wars all at once!:mad:
 
Quote from Fishbird:

"...Here in Europe taxes are stopping me from reaching financial freedom...."
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Same is true in America for most of us. Unfortunately, nearly all governments around the world work that way.

There was a time in America when government was "Of the people, by the people, and for the people"....

Now it's ALL ABOUT THE GUMMINT.... at the expense of the people.
 
Quote from Sparohok:

You guys think a 35-40% marginal tax burden on earned income is high? Compared to Europe? What a joke.

Martin
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40% of your income going to the state ? How horrible !

Why work then ?
 
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