Singapore – The Switzerland of Asia

[Humpy]

Some countries, like the UK put foreigners first, especially rich ones. They live in the best areas, in the best properties with no questions asked , like how did they come by all that money.
These Non Doms pay little tax and often import foreign labour.
UK politicians have been known to get kick backs ( invitations etc. ) from Oligarchs and others.
We have to live mainly in the slums and suburbs of our own country. There is resentment around the world but it hasn't reached Britain much, yet.

 

[propwarrior]

Some countries, like the UK put foreigners first, especially rich ones. They live in the best areas, in the best properties with no questions asked , like how did they come by all that money.
These Non Doms pay little tax and often import foreign labour.
UK politicians have been known to get kick backs ( invitations etc. ) from Oligarchs and others.
We have to live mainly in the slums and suburbs of our own country. There is resentment around the world but it hasn't reached Britain much, yet.

I am not sure about UK putting foreigners first. Basically money talks. If you have £2m to invest in the UK you can come in on a tier 1 visa and work towards residency and citizenship. If you want to settle in the USA for example you can get an investment visa if you invest $500k. What it comes down to is if you are a high net worth individual from anywhere in the world you can pretty much choose where you settle. Also if you are a high net worth individual you have access to the best accountants & lawyers because you can afford their advice/bills.

In my experience it depends on the high net worth individual, some of them believe in paying a similar % tax to the masses but others will try and pay the absolute minimum they can get away with. If you are a high net worth individual it is very easy to shift your 'income' out of income tax rules and into capital gains rules. For example you can own or create businesses and take no income just relying on drawing down from your net worth. Capital is then extracted from the company via selling/floating using offshore/trust structures.

Unfortunately this is the world we live in at the moment. The worker who earns £50k in salary gets taxed a crazy percentage once you add up the total tax take from everything. Income Tax, National Insurance, Council (Property) Tax, VAT, fuel tax etc. The high net worth individual can comfortably get away with paying pennies in the pound.

The real corporate theft going on is with companies like Amazon. The had £5bn turnover in the UK in 2015 and paid £11m corporation tax in Luxembourg, work that out as a % lol. That is grossly unfair. Then you have small family run retail businesses in the UK paying huge taxes, business rates etc etc, it's impossible for them to compete.

 

[Joe_D]

Doing business in Thailand is fraught with issues - you need a local partner that takes equity, the laws are geared towards locals and give foreigners very little power, etc. Several of my colleagues own real estate or businesses in Phuket, Krabi, Bangkok.

To your point about many of them being unhappy, I would believe that. Conditions for them can be tough with very small rooms and sometimes abusive "owners" - I hear the Chinese nationals are the worst. In many respects, Sg and HK are both very colonial in their expat cultures.

The only business I do in Thailand is TRADING the Thai stock market and international and US markets. The Thai market is just as electronic as that of the US, and it is tax-free.

I don't have any of those problems that you claim other foreigners have - but I do acknowledge that the power in a bind resides with Thai nationals. One reason I don't have to worry about this is because I give everything away - several houses and land gifted to my girlfriends over the years and the one I like the most, has a portfolio of real estate all 100% in her name.

Long, long lines of europeans and other americans at Immigration for annual visa renewal - takes them hours to get it done, but me, I just bypass everyone in the line, go right to the counter, speak in fluent Thai and submit my app. with a document stating that the thai govt. should grant exc. service to all american citizens as per treaty - I'm in and out in minutes.

I have no complaints, only mellifluous, sublime, sybaritic pleasure in this magnificent country.

 

[Joe_D]

To your point about many of them being unhappy, I would believe that. Conditions for them can be tough with very small rooms and sometimes abusive "owners" - I hear the Chinese nationals are the worst. In many respects, Sg and HK are both very colonial in their expat cultures.

Fillipinos, a super friendly and kind race is treated like abs. garbage in Singapore. Hong Kong too, but I've noticed it much more in Singapore. Filipinos in Hawaii and California are treated as equals everywhere and they thrive.

The worst offenders of torturing the Filippino women are the Arab countries, esp. Saudi Arabia. Rape is rampant and the story would never have gotten out were it not for this brave girl who escaped all bruised and beaten up, denied help by the Police, and got to a CNN reporter

 

[helpme_please]

The only business I do in Thailand is TRADING the Thai stock market and international and US markets. The Thai market is just as electronic as that of the US, and it is tax-free.

Long, long lines of europeans and other americans at Immigration for annual visa renewal - takes them hours to get it done, but me, I just bypass everyone in the line, go right to the counter, speak in fluent Thai and submit my app. with a document stating that the thai govt. should grant exc. service to all american citizens as per treaty - I'm in and out in minutes.

I have no complaints, only mellifluous, sublime, sybaritic pleasure in this magnificent country.

How do you get to enjoy tax-free luxury as an American given that the U.S imposes worldwide taxes? It will be interesting to know the exceptions. If you can't enjoy the lower taxes, why leave home and family to trade in a foreign land when you can do the same at home?

 

[Joe_D]

How do you get to enjoy tax-free luxury as an American given that the U.S imposes worldwide taxes? It will be interesting to know the exceptions. If you can't enjoy the lower taxes, why leave home and family to trade in a foreign land when you can do the same at home?

(1) Accounts in my name are all well under the measly $10 so no reporting on FBAR

(2) I've given ALL of it away in the names of several women (Thai nationals) who follow my instructions on TRADING.

(3) HOME USA = most boring location in existence - that's why.

Joe

 

[helpme_please]

I advise you better delete your reply to my message. It is confidential information that should not be on public. I am sorry to have asked. Created potential trouble for you. I guess it may have been more appropriate if you had used private messages.

 

[helpme_please]

I advise you better delete your reply to my message. It is confidential information that should not be on public. I am sorry to have asked. Created potential trouble for you. I guess it may have been more appropriate if you had used private messages.

Quickly delete it while you have time. I am no longer able to delete my original post as too much time has passed.

 

[Joe_D]

Quickly delete it while you have time. I am no longer able to delete my original post as too much time has passed.

Thank you kindly, Sir. Not to worry. All gifts are declared openly, no secrets.

But I was going to answer your question about loopholes - The Donald is going to unwind all the FBAR stuff that Obama put in place. In fact some SE Asia banks are now accepting Americans whereas formerly it was a flat NO. Americans were treated as a disease at banks outside the US, esp. in 2015, 2016

 

[helpme_please]

Thank you kindly, Sir. Not to worry. All gifts are declared openly, no secrets.

But I was going to answer your question about loopholes - The Donald is going to unwind all the FBAR stuff that Obama put in place. In fact some SE Asia banks are now accepting Americans whereas formerly it was a flat NO. Americans were treated as a disease at banks outside the US, esp. in 2015, 2016

Glad that it posed no trouble to you. What is most enviable about you is that you manage to find multiple women that you can trust with your money. Amazing! I have heard many stories about men getting poor from divorce. Here is a man who found several women whom he can trust with his money.

Aren't you afraid the women will take away your money and run? Isn't that a big risk?