Best country for a freelancer / digital nomad post-covid
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Land can only be BOUGHT by a citizen of the Philippines who resides permanently within the Philippines. Apartments and entire buildings can be bought and owned by foreigners, too.
A condo in the Philippines does not have any land participation included.
If a foreign individual wants land participation this is usually done via a long term lease with a valididty of 50 years + contractual automatic extension of 25 years (= 75 years in total) that has to be registered with the Department of︀ Trade and Industries since it is considered to be an investment.
There are more options︁ but the above is the base rule.
A condo in the Philippines does not have any land participation included.
If a foreign individual wants land participation this is usually done via a long term lease with a valididty of 50 years + contractual automatic extension of 25 years (= 75 years in total) that has to be registered with the Department of︀ Trade and Industries since it is considered to be an investment.
There are more options︁ but the above is the base rule.
You can set up a corporation that owns the land. This corporation has to be min 60% Filipino shareholders, in this case it is best to use several Filipino shareholders that dont know each other and have everything prepared by a legal firm so they can run away with it.
Or as backpacker mentions, often the land is also leased, or many foreigners who have a spouse buy the land on her name.
A foreigner can own a condo as long as 60% of︀ the owners in that condo building are Filipinos. There is a register kept as the︁ condo is as a corporation with each owner being a shareholder.
Or as backpacker mentions, often the land is also leased, or many foreigners who have a spouse buy the land on her name.
A foreigner can own a condo as long as 60% of︀ the owners in that condo building are Filipinos. There is a register kept as the︁ condo is as a corporation with each owner being a shareholder.
Correct. This is practiced︁ elsewhere too, e.g. in Africa where some countries prohibit non national land ownership.
There is starlink available which has good results in the province without fiber connection (which is also not always stable).
Hello backpacker︁ since i am going to phillipines in January and i want to stay there for︂ a month and i would need wifi can you tell me which this provider is︃ for internet?
Never had any problem, good performance on land and at sea:
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I read the thread, and Paraguay was mentioned a few times. For nomads in the five-figure or low-six-figure territory, it is currently the best solution together with Georgia, especially if they plan to travel frequently.
Taxes:
0% on foreign income (doesn't need to be reported)
Locally, the regime is in general 10%VAT-10%PIT-10%CIT
All the VAT you pay on purchases within the country (restaurants, groceries, clothes, services, etc.) can be used to offset the VAT you issue in the invoices to clients (if you have local clients) or to offset personal income tax, even the future one.
Tax Residency:
In the law, there are two options. Spend 120+ days/year in Py or demonstrate ties to Py. They care about the days when you ask for a tax residency certificate. If you wish to spend fewer days in Py and still get the certificate.. Technically, it is a problem. Practically 🙂
Paraguay did not sign CRS. However, signed a different agreement, the Convention on Mutual Administrative Assistance in Tax Matters, with certain RESERVATIONS. They go case by case and guarantee full cooperation only in VAT frauds.
Banking:
Not good. Usually, time is needed to build a "relationship" with the bank. Contacts can speed up the process a little. USD transactions will be a pain in the a*s anyway.
Language:
You need to learn Spanish to live here. There are ppl who live here and speak only English. You can get basic things done, but your social life will be limited to the expat community.
Lifestyle:
Regarding cuisine, the meat here is better than in Argentina, except for the top expensive places in Buenos Aires. Asuncion has excellent Pho, Sushi, and Burgers. The beer is excellent. Italian pizza and pasta are worse. There are about ten luxury restaurants, one of which is listed among the top 50 restaurants in LATAM. You can have a 3-course meal for two people, a bottle of wine, and dessert for take away for about 100US there. Grocery stores Superseis and Casa Rica would be considered luxury in Europe. Carrefour in Argentina is a total joke compared to those.
There are apartment buildings that would be considered very good in Dubai regarding appearance and amenities. The quality varies significantly (which is also valid for Dubai).
Things to do... this is a problem for foreigners and also Paraguayans. They have a problem selling themselves. There are exhibitions, jazz concerts, etc., but they are always held within the community, and they can't get the word out. On the other hand, if you find the best Padel academy in the country. You can get a class for 15 USD (incl. court), and these guys are at a very good level internationally. The same-level guys in Marbella charge 100-200 USD. The same applies to other activities.
Girls are hot””a good mixture of European, native, and Brazilian genes.
Taxes:
0% on foreign income (doesn't need to be reported)
Locally, the regime is in general 10%VAT-10%PIT-10%CIT
All the VAT you pay on purchases within the country (restaurants, groceries, clothes, services, etc.) can be used to offset the VAT you issue in the invoices to clients (if you have local clients) or to offset personal income tax, even the future one.
Tax Residency:
In the law, there are two options. Spend 120+ days/year in Py or demonstrate ties to Py. They care about the days when you ask for a tax residency certificate. If you wish to spend fewer days in Py and still get the certificate.. Technically, it is a problem. Practically 🙂
Paraguay did not sign CRS. However, signed a different agreement, the Convention on Mutual Administrative Assistance in Tax Matters, with certain RESERVATIONS. They go case by case and guarantee full cooperation only in VAT frauds.
Banking:
Not good. Usually, time is needed to build a "relationship" with the bank. Contacts can speed up the process a little. USD transactions will be a pain in the a*s anyway.
Language:
You need to learn Spanish to live here. There are ppl who live here and speak only English. You can get basic things done, but your social life will be limited to the expat community.
Lifestyle:
Regarding cuisine, the meat here is better than in Argentina, except for the top expensive places in Buenos Aires. Asuncion has excellent Pho, Sushi, and Burgers. The beer is excellent. Italian pizza and pasta are worse. There are about ten luxury restaurants, one of which is listed among the top 50 restaurants in LATAM. You can have a 3-course meal for two people, a bottle of wine, and dessert for take away for about 100US there. Grocery stores Superseis and Casa Rica would be considered luxury in Europe. Carrefour in Argentina is a total joke compared to those.
There are apartment buildings that would be considered very good in Dubai regarding appearance and amenities. The quality varies significantly (which is also valid for Dubai).
Things to do... this is a problem for foreigners and also Paraguayans. They have a problem selling themselves. There are exhibitions, jazz concerts, etc., but they are always held within the community, and they can't get the word out. On the other hand, if you find the best Padel academy in the country. You can get a class for 15 USD (incl. court), and these guys are at a very good level internationally. The same-level guys in Marbella charge 100-200 USD. The same applies to other activities.
Girls are hot””a good mixture of European, native, and Brazilian genes.
I read the thread, and Paraguay was mentioned a few times. For nomads in the five-figure or low-six-figure territory, it is currently the best solution together with Georgia, especially if they plan to travel frequently.
Taxes:
0% on foreign income (doesn't need to be reported)
Locally, the regime is in general 10%VAT-10%PIT-10%CIT
All the VAT you pay on purchases within the country (restaurants, groceries, clothes, services, etc.) can be used to offset the VAT you issue in the invoices to clients (if you have local clients) or to offset personal income tax, even the future one.
Tax Residency:
In the law, there are two options.︀ Spend 120+ days/year in Py or demonstrate ties to Py. They care about the days︁ when you ask for a tax residency certificate. If you wish to spend fewer days︂ in Py and still get the certificate.. Technically, it is a problem. Practically 🙂
Paraguay did︃ not sign CRS. However, signed a different agreement, the Convention on Mutual Administrative Assistance in︄ Tax Matters, with certain RESERVATIONS. They go case by case and guarantee full cooperation only︅ in VAT frauds.
Banking:
Not good. Usually, time is needed to build a "relationship" with︆ the bank. Contacts can speed up the process a little. USD transactions will be a︇ pain in the a*s anyway.
Language:
You need to learn Spanish to live here. There︈ are ppl who live here and speak only English. You can get basic things done,︉ but your social life will be limited to the expat community.
Lifestyle:
Regarding cuisine, the︊ meat here is better than in Argentina, except for the top expensive places in Buenos︋ Aires. Asuncion has excellent Pho, Sushi, and Burgers. The beer is excellent. Italian pizza and︌ pasta are worse. There are about ten luxury restaurants, one of which is listed among︍ the top 50 restaurants in LATAM. You can have a 3-course meal for two people,︎ a bottle of wine, and dessert for take away for about 100US there. Grocery stores️ Superseis and Casa Rica would be considered luxury in Europe. Carrefour in Argentina is a total joke compared to those.
There are apartment buildings that would be considered very good in Dubai regarding appearance and amenities. The quality varies significantly (which is also valid for Dubai).
Things to do... this is a problem for foreigners and also Paraguayans. They have a problem selling themselves. There are exhibitions, jazz concerts, etc., but they are always held within the community, and they can't get the word out. On the other hand, if you find the best Padel academy in the country. You can get a class for︀ 15 USD (incl. court), and these guys are at a very good level internationally. The︁ same-level guys in Marbella charge 100-200 USD. The same applies to other activities.
Girls are︂ hot,a good mixture of European, native, and Brazilian genes.
Taxes:
0% on foreign income (doesn't need to be reported)
Locally, the regime is in general 10%VAT-10%PIT-10%CIT
All the VAT you pay on purchases within the country (restaurants, groceries, clothes, services, etc.) can be used to offset the VAT you issue in the invoices to clients (if you have local clients) or to offset personal income tax, even the future one.
Tax Residency:
In the law, there are two options.︀ Spend 120+ days/year in Py or demonstrate ties to Py. They care about the days︁ when you ask for a tax residency certificate. If you wish to spend fewer days︂ in Py and still get the certificate.. Technically, it is a problem. Practically 🙂
Paraguay did︃ not sign CRS. However, signed a different agreement, the Convention on Mutual Administrative Assistance in︄ Tax Matters, with certain RESERVATIONS. They go case by case and guarantee full cooperation only︅ in VAT frauds.
Banking:
Not good. Usually, time is needed to build a "relationship" with︆ the bank. Contacts can speed up the process a little. USD transactions will be a︇ pain in the a*s anyway.
Language:
You need to learn Spanish to live here. There︈ are ppl who live here and speak only English. You can get basic things done,︉ but your social life will be limited to the expat community.
Lifestyle:
Regarding cuisine, the︊ meat here is better than in Argentina, except for the top expensive places in Buenos︋ Aires. Asuncion has excellent Pho, Sushi, and Burgers. The beer is excellent. Italian pizza and︌ pasta are worse. There are about ten luxury restaurants, one of which is listed among︍ the top 50 restaurants in LATAM. You can have a 3-course meal for two people,︎ a bottle of wine, and dessert for take away for about 100US there. Grocery stores️ Superseis and Casa Rica would be considered luxury in Europe. Carrefour in Argentina is a total joke compared to those.
There are apartment buildings that would be considered very good in Dubai regarding appearance and amenities. The quality varies significantly (which is also valid for Dubai).
Things to do... this is a problem for foreigners and also Paraguayans. They have a problem selling themselves. There are exhibitions, jazz concerts, etc., but they are always held within the community, and they can't get the word out. On the other hand, if you find the best Padel academy in the country. You can get a class for︀ 15 USD (incl. court), and these guys are at a very good level internationally. The︁ same-level guys in Marbella charge 100-200 USD. The same applies to other activities.
Girls are︂ hot,a good mixture of European, native, and Brazilian genes.
In what cases would it be an advantage to have tax residency in Paraguay?
(Hint: You probably don't understand what tax residency is.)
(Hint: You probably don't understand what tax residency is.)
In the case you are able to not be a tax resident in a country with worse tax environment than Paraguay.
In the case you are able to not be a tax resident in a country with worse tax environment than Paraguay.
And then what would be the advantage of the PY tax residency if no other country tries to tax you anyway?
I did not say that no other country tries to tax you.
Legally, it is not possible to not be a tax resident in any country. If you do not meet the time and substance criteria in any country, the country of your citizenship is your tax residency.
Legally, it is not possible to not be a tax resident in any country. If you do not meet the time and substance criteria in any country, the country of your citizenship is your tax residency.
I did not say that no other country tries to tax you.
Legally, it is not possible to not be a tax resident in any country. If you do not meet the time and substance criteria in any country, the country of your citizenship is your tax residency.
Legally, it is not possible to not be a tax resident in any country. If you do not meet the time and substance criteria in any country, the country of your citizenship is your tax residency.
Paraguay I'm coming 😀
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