Moving? 14 Countries With NO Income Tax

fan27 · Dec 3, 2012

Quote from Tsing Tao:

Keep in mind, however, that you would need to renounce your US citizenship, as the US is the only country in the world that requires you to report income regardless of where in the world you are when you earn it.

There are ways to get around this if you have dual citizenship, however.

While you still have to file, the first $91,000 of income or so earned abroad is not taxed by Uncle Sam. There are rules attached to it like you can only spend so many days in the US during the calender year.

fan27

Grandluxe · Dec 3, 2012

How about simply getting a second passport from St Kitts or whatever. Then use the second passport to open a brokerage and bank account.

Tsing Tao · Dec 3, 2012

Quote from fan27:

While you still have to file, the first $91,000 of income or so earned abroad is not taxed by Uncle Sam. There are rules attached to it like you can only spend so many days in the US during the calender year.

fan27

Pretty sure that is in conjunction with a foreign income tax paid, though. I'm not an accountant, but I do recall something to do with that when I was living in Russia. I'm not positive, though, as tax law isn't my area of expertise.

Grandluxe · Dec 3, 2012

Quote from ~~~:

many people love it including me. I rather save on taxes and donate more to orphanages and old folks home to the real needy people.

Although one of the things about HKG and Singapore is that it is expensive especially when it comes to property because of the limited space. Another would be the lack of nature, it's fine if you like living in an urban city but some people like the outdoors better. I think Switzerland is a better bet if you already have dough.....

Tsing Tao · Dec 3, 2012

Quote from Grandluxe:

How about simply getting a second passport from St Kitts or whatever. Then use the second passport to open a brokerage and bank account.

You could do this quite easily (apart from getting the second passport - that's the complex part).

Legally, you still own Uncle Sam. Technically, they wouldn't have a way of tracking you.

Grandluxe · Dec 3, 2012

Quote from Tsing Tao:

You could do this quite easily (apart from getting the second passport - that's the complex part).

Legally, you still own Uncle Sam. Technically, they wouldn't have a way of tracking you.

Hmmm yes, aren't there some places in the Carribbean where you can invest some money and get a passport though, thought I read about it somewhere, economic citizenship programmes. Then you can just go off the grid.

Clubber Lang · Dec 3, 2012

Quote from Grandluxe:

Hmmm yes, aren't there some places in the Carribbean where you can invest some money and get a passport though, thought I read about it somewhere, economic citizenship programmes. Then you can just go off the grid.

Buy real estate in the Bahama's, get legal residency.

http://www.hg.org/article.asp?id=6274

Same thing if you open a business and employ at least one Bahamian citizen.

Tsing Tao · Dec 3, 2012

Quote from Grandluxe:

Hmmm yes, aren't there some places in the Carribbean where you can invest some money and get a passport though, thought I read about it somewhere, economic citizenship programmes. Then you can just go off the grid.

Yes, as Clubber mentions. It's just the part of the process that is considerably more complex.

BSAM · Dec 3, 2012

Try to leave and watch how much the USA steals from you on your way out the door.
And yes, of course, they will do this at gun point.

Tsing Tao · Dec 3, 2012

Quote from BSAM:

Try to leave and watch how much the USA steals from you on your way out the door.
And yes, of course, they will do this at gun point.

All sorts of ways around this, too.