Considering setting up an offshore company to legally optimize taxes

Status
Not open for further replies.
They won't ask in his case. If you own a⁢ house and actually live there.

For other cases, it could make sense but not many︀ countries care much about that.
 
How about germany? If you are there 5-6 months a⁠ year they could care if you have a real residence somewhere else right?
 
What is‍ the case? You are a perpetual tourist from Italy and want to spend some time⁠ in Germany?

It really depends on many factors. But most countries are quite aggressive about⁤ those leaving on paper but still there.
 
It boils down to two questions.

1. What kind of lifestyle do you want? You can have a lifestyle for 20k/year in some of the mentioned countries, which would cost you in Dubai 20k/2 months. On the other hand, if you plan to spend 200k/year on life, Dubai can give you a lifestyle that is not achievable in some of the mentioned countries.
2. Do you plan to travel frequently / live as a perpetual traveler? If yes, this eliminates some countries that require 183+ days.
 
It boils down to two questions.

1. What kind of lifestyle do you want? You‌ can have a lifestyle for 20k/year in some of the mentioned countries, which would cost‍ you in Dubai 20k/2 months. On the other hand, if you plan to spend 200k/year⁠ on life, Dubai can give you a lifestyle that is not achievable in some of⁤ the mentioned countries.
2. Do you plan to travel frequently / live as a perpetual⁣ traveler? If yes, this eliminates some countries that require 183+ days.
 
daniels27 said:
Why does it eliminate it? He can still be there exit living on his residency elsewhere. Maybe Paraguay with @NewHorizonsParaguay
Click to expand...
I think that Uruguay does issue first a temporary residency. To obtain permanent one, you have to spend 183+ per year. At least the first year. Maybe they changed it. I don't know.
 
I think that Uruguay does‍ issue first a temporary residency. To obtain permanent one, you have to spend 183+ per⁠ year. At least the first year. Maybe they changed it. I don’t know.
 
For Norway there are some important aspects you need to⁠ consider. If you have lived in Norway more than 10 years, you will stay tax⁤ resident for at least 3 years after you have moved out of Norway. To avoid⁣ having to pay Norwegian tax you can use a tax treaty.
If you currently are⁢ paying wealth taxes then you need to move to another country that has wealth taxes︀ in order for the tax treaty to cover the wealth taxes. That's why most wealthy︁ norwegians move to Switzerland, as they have (low) wealth taxes which makes that you don't︂ have to pay the (higher) wealth taxes in Norway.
There is also another norwegian rule︃ that can help you avoid tax on salary income (but not on dividens, capital gains,︄ wealth tax). So if you live in a tax free country or a country that︅ don't care to much about your foreign income then you can get the salary tax︆ free. I don't know exactly how much you could claim as salary, I'd think 4M︇ NOK is probably too high to be only salary, so some of it would be︈ dividends. If you open a new tax free company like a US LLC (which is︉ not considered pass through in Norway) then you could leave some earnings there until you've︊ become non tax resident in Norway, however the increased value of the company would be︋ subject to the exit tax, and also wealth taxes (unless you can use a tax︌ treaty like the Swiss one).
 
afaik leaving norway only works if you go to a country which has a wealth‌ tax.
 
Not clear what you mean by that, but as‍ I explained, to avoid wealth tax in Norway you need to use a tax treaty⁠ with another country that also has wealth taxes.
 
I have a lifestyle today of 400K - 500K converted to Euro, I⁤ have never been in Paraguay maybe it's time to go there to see.
Thank you, very important to know, fantastic.
I will have to discuss this︍ with my accountant, useful information, thank you very much.
 
What you suggest is to move from Norway to Switzerland, stay there for a year‌ or 2 and move to Monaco to finally avoid any taxation ?
 
The salary exemption rule is called "ettårsregelen".
He would have to stay in Switzerland 3 years, as one stays tax resident in Norway⁠ 3 years after moved out.
He could chose to move to another tax free country and keep paying⁤ norwegian wealth taxes. Depending on the amounts, it might not be more than other taxes⁣ he'd have to pay in Switzerland.
 
Status
Not open for further replies.

JohnnyDoe.is is an uncensored discussion forum
focused on free speech,
independent thinking, and controversial ideas.
Everyone is responsible for their own words.

Quick Navigation

User Menu