Moving offshore

Quote from Stardust:

Mexico doesn't tax capital gains and is very easy to get an immigration status. Good scenario for Canadians wanting to go "Non-Resident". Close proximity to U.S./Canada for travel.
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I would consider Acapulco. I have been there and it's really nice. The water was 80F in November. It seemed safe too, tourist police everywhere and helpful too. Speaking both Spanish and English.

I just stopped in Costa Maya, cruise ship port, and beautiful clear water nice ppl, no high speed internet!:(

Belize no high speed either. :(
 
But you get a deal on Kalik Beer.



Quote from Jrmarketwizard:

There are problem with looking for a jurisdiction to live from purely a tax reason is that you end up comprising on many aspects that would be needed to maintain a certain quality of living.

For examples, Bahamas is incredibly unfriendly island towards non Bahamians, now if you're just visiting as a tourist you'd notice very little. But prolonged stays you start to realize Bahamians will always service locals before you regardless whether you've been waiting in line for an 1hr before the local resident.

Also the cost of food is ridiculous. 8 dollars for a slice of pizza.

Canada is a beautiful during the summer, and if you're a ski lover the winter is gorgeous up in Whistler.

As for my fellow American brothers you have a bigger hurdle to overcome because your tax system is based on Citizenship. As opposed to Canadians and Europeans they are based on residency. As long as you don't reside in one place for more than 183 days, you should be ok.
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Quote from Pita:

Well, I am from Austria and we pay up to 50% tax. I have moved my money to Switzerland and emmigrated to Thailand.

P.
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I understand taxes are high for almost all EU citizens, I was simply offering a banking alternative that is private and stable.
 
Hey here's a hypothetical question about IRAs. What happens if I move off-shore and give up my US citizenship and take my tax-deferred IRA with me? Do I still owe Uncle Sam anything when I start to withdraw from it? In fact, can't I just pull the money out and do what I want with it immediately?

Sounds too good to be true.
 
Kalik Beer is almost as good as Banks Beer in Barbados. Was there for 2 months, some of the nicest beaches and thats about it....

I need a place with rich culture and decent food.

I thought about basing out of Thailand, but I'm a intraday-trader and need net reliability. i hear the people and the food are world class!
 
I thought I read that US citizens still have to pay taxes for 10 years AFTER renouncing citizenship. If that's true, I guess we all may as well just suck it up :D
 
Quote from stevegee58:

Hey here's a hypothetical question about IRAs. What happens if I move off-shore and give up my US citizenship and take my tax-deferred IRA with me? Do I still owe Uncle Sam anything when I start to withdraw from it? In fact, can't I just pull the money out and do what I want with it immediately?
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Ha, you think Uncle Sam would make it that easy? :)

"An individual who relinquishes his or her U.S. citizenship or terminates his or her U.S. residency with a principal purpose of avoiding U.S. taxes is subject to an alternative method of income taxation for the 10 taxable years ending after the expatriation or residency termination under section 877."

http://thomas.loc.gov/cgi-bin/cpque...&r_n=sr283.107&db_id=107&item=&sel=TOC_25410&

I'm not sure if that's exactly what got voted in, but it was something along those lines..

This is again why I'd suggest the US Virgin Islands for US citizens. Renouncing citizenship is just too much of a hassle, and you can't escape the IRS.
 
Sounds tremendously difficult to enforce if you never come back to US soil. And I really doubt foreign govts would bother lifting a finger to enforce US tax law.
 
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