Best 1st world countries with low to zero income tax?
- Thread starter banafinfodafuggiano
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You hit the nail right on the head! I agree with you 100%! A lot of younger people are quite shortsighted as they (delusionally?) "predict" things will stay the same in the future.
From the 1980s to the 2010s, I traveled and stayed in so many countries due to work. For most of them (+99%), I had no interactions with ANYONE in government. For 100% of them, I NEVER registered as a "resident" despite being able to open accounts to my heart's content.
Note: Accounts were ALWAYS opened at my clients' or suppliers' banks. Thus, I didn't just walk into a bank and open an account.︀ I wouldn't expose myself like that. My clients and suppliers have known businesses in their︁ regions.
What am I getting at? In every single one of those places, without exception,︂ including those "some" of us disparage openly as "shitholes or banana republics," my clients and︃ suppliers lived multiple orders of magnitude better and more opulent than any North American (in︄ this context, I mean the USA or Canada) or European person I knew who did︅ NOT possess BIG BUSINESSES. To top it all off, every one of these clients and︆ suppliers had a "special tax ruling" applicable only to them.😉
As a consequence, I rarely︇ discount places based on other people's experiences. Their experiences may be essential, and I do︈ take them into consideration for my future pattern recognition as an early warning of impending︉ danger, but I may have different values that rank higher in terms of preferability. Hence, I'm not eager to discount other people's choices. I am NOT that arrogant and ignorant︊ to believe that I would know what is best for a complete stranger I don't︋ know anything about. 😳 To be fair, I don't even know what is best for me,︌ except in hindsight. smi(&% If I were really THAT smart, then maybe I should NOT have︍ had that second bottle of wine yesterday at dinner and the repeated serving of that︎ chocolate cake. doh948""rof/%smi(&%
In my 20s and 30s, Latin America was the place to be (for️ me): Argentina, Bolivia, Brazil, Colombia, Panama, Paraguay, and Venezuela. Armed with too-easily-accessible alprostadil and PEDs, and then using dial-up for remote access, I was in HEAVEN! rof/%
Now, the city/country that is ideal for me in 2024 is NOT suitable for +99.99% of people. Yet, to me, it's HEAVEN! I love it so much, and for the first ten (10) years, they will NOT charge me ANY worldwide taxes,only what the locals pay me (25% tax on profits), which is peanuts when compared to worldwide revenues.
Cheers!
You hit the nail right on the head! I agree with you 100%! A lot of younger people are quite shortsighted as they (delusionally?) "predict" things will stay the same in the future.
From the 1980s to the 2010s, I traveled and stayed in so many countries due to work. For most of them (+99%), I had no interactions with ANYONE in government. For 100% of them, I NEVER registered as a "resident" despite being able to open accounts to my heart's content.
Note: Accounts were ALWAYS opened at my clients' or suppliers' banks. Thus, I didn't just walk into a bank and open an account.︀ I wouldn't expose myself like that. My clients and suppliers have known businesses in their︁ regions.
What am I getting at? In every single one of those places, without exception,︂ including those "some" of us disparage openly as "shitholes or banana republics," my clients and︃ suppliers lived multiple orders of magnitude better and more opulent than any North American (in︄ this context, I mean the USA or Canada) or European person I knew who did︅ NOT possess BIG BUSINESSES. To top it all off, every one of these clients and︆ suppliers had a "special tax ruling" applicable only to them.😉
As a consequence, I rarely︇ discount places based on other people's experiences. Their experiences may be essential, and I do︈ take them into consideration for my future pattern recognition as an early warning of impending︉ danger, but I may have different values that rank higher in terms of preferability. Hence, I'm not eager to discount other people's choices. I am NOT that arrogant and ignorant︊ to believe that I would know what is best for a complete stranger I don't︋ know anything about. 😳 To be fair, I don't even know what is best for me,︌ except in hindsight. smi(&% If I were really THAT smart, then maybe I should NOT have︍ had that second bottle of wine yesterday at dinner and the repeated serving of that︎ chocolate cake. doh948""rof/%smi(&%
In my 20s and 30s, Latin America was the place to be (for️ me): Argentina, Bolivia, Brazil, Colombia, Panama, Paraguay, and Venezuela. Armed with too-easily-accessible alprostadil and PEDs, and then using dial-up for remote access, I was in HEAVEN! rof/%
Now, the city/country that is ideal for me in 2024 is NOT suitable for +99.99% of people. Yet, to me, it's HEAVEN! I love it so much, and for the first ten (10) years, they will NOT charge me ANY worldwide taxes,only what the locals pay me (25% tax on profits), which is peanuts when compared to worldwide revenues.
Cheers!
I can proudly say that I am from a 3rd world country so I guess I'm used to the charm of it all. smi(&%
But at the end of︀ the day the 3rd world allows exactly what you say. A life of luxury at︁ a minimal cost. The only problem is usually safety, but that's not much of an︂ issue in many countries of Eastern Europe and most of Asia.
Venezuela is problably not︃ a smart choice anymore, but from what I've read it was amazing in the 80s︄ and early 90s.
But at the end of︀ the day the 3rd world allows exactly what you say. A life of luxury at︁ a minimal cost. The only problem is usually safety, but that's not much of an︂ issue in many countries of Eastern Europe and most of Asia.
Venezuela is problably not︃ a smart choice anymore, but from what I've read it was amazing in the 80s︄ and early 90s.
Yeah, but what's the point of living in the climate hell if you have a better choice?
Check the picture below. What a wonderful place to live.
That's also one of the reasons real estate prices are so low there, it's hell, and there is an oversupply of real estate, too.
2 million population, traffic is heavier than in BKK, always rains 33+ plus, humidity like in a sauna
Check the picture below. What a wonderful place to live.
That's also one of the reasons real estate prices are so low there, it's hell, and there is an oversupply of real estate, too.
2 million population, traffic is heavier than in BKK, always rains 33+ plus, humidity like in a sauna
I assume you have significantly more money than the︀ average person in your country, and therefore, you're probably doing quite well? It's the money︁ that matters in those countries, along with the potential for major tax advantages because the︂ systems don't function properly where you live.
What about Montenegro seaside?
Pros:
- They use EURO
- Easy to get residency with even a minor RE investment
- Path to citizenship, albeit difficult
- Affordable
- In Europe, several airports in/near the country. Near Serbia (nightlife, non-woke) & Croatia (best seaside).
- Hot girls, especially in summer as it is as holiday destination. Also influx of Russian/Ukrainian girls.
Cons:
- Public infrastructure sucks, but with money you can resolve most inconveniences.
- Banks are archaic and not crypto friendly.
- If you're a dumb western foreigner you will overpay for everything as the locals stick together. You need a local fixer.
Pros:
- They use EURO
- Easy to get residency with even a minor RE investment
- Path to citizenship, albeit difficult
- Affordable
- In Europe, several airports in/near the country. Near Serbia (nightlife, non-woke) & Croatia (best seaside).
- Hot girls, especially in summer as it is as holiday destination. Also influx of Russian/Ukrainian girls.
Cons:
- Public infrastructure sucks, but with money you can resolve most inconveniences.
- Banks are archaic and not crypto friendly.
- If you're a dumb western foreigner you will overpay for everything as the locals stick together. You need a local fixer.
Look it up. I believe it was 10% flat tax and you start with a 200k tax credit, so you only start paying tax after your first 2 million in profits. It was for 10 years or so.
You mean this ? :
Source : https://taxsummaries.pwc.com/montenegro/corporate/tax-credits-and-incentives
Source : https://taxsummaries.pwc.com/montenegro/corporate/tax-credits-and-incentives
Depends on how you define it.
According to some sources, Montenegro is included. It would mean being at least at the level of Belarus, Kazakhstan, or Georgia. (TOP 66 countries)
https://worldpopulationreview.com/country-rankings/first-world-countries
According to some sources, Montenegro is included. It would mean being at least at the level of Belarus, Kazakhstan, or Georgia. (TOP 66 countries)
https://worldpopulationreview.com/country-rankings/first-world-countries
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