Easy territorial or zero tax residency without presence requirements
- Thread starter Roo
- Start date
- Status
Only issue i see with this, is the following.
Crypto for example, or even non-crypto it is rather impossible these days for the average person to retain a bank account say in their native country (UK, EU) when non resident.
This leaves offshore banks, or banks in other jurisdictions, note there is CRS but it goes into a blackbox, i.e for example HMRC would get information for the Brit living in say Cambodia, but wouldn't have to forward it on,︀ however HMRC would be abundantly aware of the users assets/banking etc.
Now when it comes︁ to Cambodia, due to the recent crime gangs running pig-butchering the usual banking routes via︂ Thai banking system to the wider world would be reduced and scrutinised more heavily on︃ the Thai side, obviously some of the domestic banks bank via China, Malaysia, Vietnam etc︄ as their corresponding to the greater world, thats important for funds flowing in -> say︅ crypto to Cambodian bank and then Cambodia to external bank (note Cambodia would see this︆ information and i am unsure on the tax there these days to do with crypto︇ -> but reporting more on the flow). and funds flowing in say would be routed︈ through these corresponding banks and then onto Cambodia (where sold overseas and transferred into Cambodia)︉ so living of such would likely be ok, but bringing in swathes on liquidating wealth︊ would have a big siren going off, which could cause unruly risks, or even kidnapping︋ etc.
Crypto for example, or even non-crypto it is rather impossible these days for the average person to retain a bank account say in their native country (UK, EU) when non resident.
This leaves offshore banks, or banks in other jurisdictions, note there is CRS but it goes into a blackbox, i.e for example HMRC would get information for the Brit living in say Cambodia, but wouldn't have to forward it on,︀ however HMRC would be abundantly aware of the users assets/banking etc.
Now when it comes︁ to Cambodia, due to the recent crime gangs running pig-butchering the usual banking routes via︂ Thai banking system to the wider world would be reduced and scrutinised more heavily on︃ the Thai side, obviously some of the domestic banks bank via China, Malaysia, Vietnam etc︄ as their corresponding to the greater world, thats important for funds flowing in -> say︅ crypto to Cambodian bank and then Cambodia to external bank (note Cambodia would see this︆ information and i am unsure on the tax there these days to do with crypto︇ -> but reporting more on the flow). and funds flowing in say would be routed︈ through these corresponding banks and then onto Cambodia (where sold overseas and transferred into Cambodia)︉ so living of such would likely be ok, but bringing in swathes on liquidating wealth︊ would have a big siren going off, which could cause unruly risks, or even kidnapping︋ etc.
afaik cambodia is not︊ in crs (yet). So no data shared at least in theory. From the cambo side︋ nor from Uk tax office to cambo. Although quite unlikely banks would be willing to︌ open such (unless special clients).
However today, no one can be sure if data wont︍ be leaked or sold otherwise.
However today, no one can be sure if data wont︍ be leaked or sold otherwise.
No one will stop you.
I had no bank question any incoming or outgoing transactions, no matter if local or SWIFT transfers.
It was 30k in 2002. Now it's around 100K-150K. It's an official donation, and it's an actual law.
There are also investment options with higher numbers, and possible naturalization after 7 years permanent residence.
Lots of Chinese (especially the business/mafia types) are doing it, as it has major perks, you can︀ buy and own land, and you can even choose your new name on the Cambodian︁ passport.
And with a Cambodian passport and citizenship you won't get extradited to China (well,︂ that might not be true, as the Cambodian government has very close ties to China,︃ and will do
everything if get paid).
https://www.khmertimeskh.com/509167...ived-cambodian-citizenship-in-last-12-months/
Nothing easier than that.
If you are in Phnom Penh, Cina | Travel
Other cities like Sihanoukville, Siem Reap, Kampot, etc. have local agents as well,︆ for maybe $20 additional fee for getting your passport to PP and back, while you︇ sip Martinis at the beach.
I had no bank question any incoming or outgoing transactions, no matter if local or SWIFT transfers.
It was 30k in 2002. Now it's around 100K-150K. It's an official donation, and it's an actual law.
There are also investment options with higher numbers, and possible naturalization after 7 years permanent residence.
Lots of Chinese (especially the business/mafia types) are doing it, as it has major perks, you can︀ buy and own land, and you can even choose your new name on the Cambodian︁ passport.
And with a Cambodian passport and citizenship you won't get extradited to China (well,︂ that might not be true, as the Cambodian government has very close ties to China,︃ and will do
everything if get paid).
https://www.khmertimeskh.com/509167...ived-cambodian-citizenship-in-last-12-months/
Nothing easier than that.
If you are in Phnom Penh, Cina | Travel
Other cities like Sihanoukville, Siem Reap, Kampot, etc. have local agents as well,︆ for maybe $20 additional fee for getting your passport to PP and back, while you︇ sip Martinis at the beach.
How would major EU EMIs look at sending money from business accounts to Cambodia? Suppose there are invoices for IP royalty or AI systems etc.
And btw how is this better than UAE? I suppose I can also send myself 5 figures to FAB/WIO personal accounts? Or they won't allow it?
And btw how is this better than UAE? I suppose I can also send myself 5 figures to FAB/WIO personal accounts? Or they won't allow it?
Agencies are good for simple visa issues and extensions, naturalization is another story, I don't think everyone of them got the connections to the Ministry of Interior.
But it seems that you are right and the price has increased because of all that Chinese demand. Gosh, I should have bough that citizenship for 30K in the past. And apartments were just $5K-$10K to buy︀ then, but yeah, there were no streetlights in Phnom Penh at night then, weed was︁ $2/kg at the market and an AK-47 $25 (handguns more expensive, as easy to hide),︂ and most of the streets in Phnom Penh were unpaved...
Anyway, in this case, an︃ investment of 305k in a project approved by the government (I guess one could create︄ and present a project to the government and would have to bribe them to approve︅ it) seems like a much better option than a donation. You could build an apartment︆ block for that, keep some for yourself, sell or rent out some, resulting in having︇ an own place to stay, a business, and Cambodian citizenship. And you could always resell︈ it after becoming a Cambodian. Looking at the skyline in PP it seems that many︉ Chinese got the same idea.
https://www.khmertimeskh.com/501374...rough-investment-everything-you-need-to-know/
Before, when I arrived first time:
Today:
But it seems that you are right and the price has increased because of all that Chinese demand. Gosh, I should have bough that citizenship for 30K in the past. And apartments were just $5K-$10K to buy︀ then, but yeah, there were no streetlights in Phnom Penh at night then, weed was︁ $2/kg at the market and an AK-47 $25 (handguns more expensive, as easy to hide),︂ and most of the streets in Phnom Penh were unpaved...
Anyway, in this case, an︃ investment of 305k in a project approved by the government (I guess one could create︄ and present a project to the government and would have to bribe them to approve︅ it) seems like a much better option than a donation. You could build an apartment︆ block for that, keep some for yourself, sell or rent out some, resulting in having︇ an own place to stay, a business, and Cambodian citizenship. And you could always resell︈ it after becoming a Cambodian. Looking at the skyline in PP it seems that many︉ Chinese got the same idea.
https://www.khmertimeskh.com/501374...rough-investment-everything-you-need-to-know/
Before, when I arrived first time:
Today:
#Bingo! You are 100% right on the money! This whole internet BS with communication gives +99.99% of people a false sense of security and accomplishment.
I have been calling this "boots-on-the-ground experience" for decades.
Source: Question - I've a Paraguayan residency - What're my real advantages now ?
Hence, I practically spend most of my time in China in the factories. If I take my eyes off the "ball," I will undoubtedly end up with a substandard product or a completely empty container︀ filled with rocks! stupi#21
As a matter of fact, many Chinese ADMIT to this dastardly behavior︁ here:
https://www.reddit.com/r/HongKong/comments/p0gq9u/comment/h86u3wv
and explain why they do it.
This is NOT limited to "non-Western countries"︂ either. There are some countries in Europe, one in particular, where we purchase chicken, vegetables,︃ and fruits, and if one isn't there to oversee the process, they "freeze" the perishables︄ in more water than "perishables," so when it arrives in Asia or North America and︅ is thawed, it was more water than actual product! stupi#21 The worst part is that this︆ Western rule-of-law democracy "defends & justifies" this criminal behavior with all kinds of sophistry and︇ putrid logic! 😡
It's so bad that they refer to me as Big H when I︈ show up to oversee the preparation, packaging, and final logistics. They clearly apply Godwin's law︉ to me to excuse their poor behavior and lack of integrity.
I have already written︊ on OCT that I use CASH in China to establish Guanxi. The Chinese can't say︋ "no" to cash as they perceive it (superstitiously), this will upset Caishen, the God of︌ Wealth. 😉
I have been calling this "boots-on-the-ground experience" for decades.
Source: Question - I've a Paraguayan residency - What're my real advantages now ?
Hence, I practically spend most of my time in China in the factories. If I take my eyes off the "ball," I will undoubtedly end up with a substandard product or a completely empty container︀ filled with rocks! stupi#21
As a matter of fact, many Chinese ADMIT to this dastardly behavior︁ here:
https://www.reddit.com/r/HongKong/comments/p0gq9u/comment/h86u3wv
and explain why they do it.
This is NOT limited to "non-Western countries"︂ either. There are some countries in Europe, one in particular, where we purchase chicken, vegetables,︃ and fruits, and if one isn't there to oversee the process, they "freeze" the perishables︄ in more water than "perishables," so when it arrives in Asia or North America and︅ is thawed, it was more water than actual product! stupi#21 The worst part is that this︆ Western rule-of-law democracy "defends & justifies" this criminal behavior with all kinds of sophistry and︇ putrid logic! 😡
It's so bad that they refer to me as Big H when I︈ show up to oversee the preparation, packaging, and final logistics. They clearly apply Godwin's law︉ to me to excuse their poor behavior and lack of integrity.
I have already written︊ on OCT that I use CASH in China to establish Guanxi. The Chinese can't say︋ "no" to cash as they perceive it (superstitiously), this will upset Caishen, the God of︌ Wealth. 😉
😳 Damn! What a deal!
Don't feel bad, though! I have figured out how to do company valuations, it's a long and arduous process, and establish my buy limit price. What I have failed 100% of the time to do is to sell at the top. rof/% rof/% In 4 decades, I am 62 for 62 at failing to sell at the top! If I were a batter in MLB, my batting average would be .000 smi(&% - To say I have failed is an understatement. So, don't beat yourself on this. thu&¤#
Thank you for sharing all this information!︀ It's certainly a wonderful and enlightening experience to see it from your perspective. I'm mulling︁ it over. One never knows, and one can never be too careful. 😉
PS. I visited︂ Shenzhen in 1976 with my dad and HATED the fishing town. 🙄
On the other hand,︃ I also visited Caracas, Venezuela with my parents and loved it. I'm glad I had︄ NO money (I was a kid) then to buy anything because, mostly due to the︅ "Venezolanas," I would have "invested" ALL my money in Caracas, Venezuela. rof/% stupi#21 stupi#21 cry&¤ - Yeah...I'm THAT stupid︆ smi(&%
Don't feel bad, though! I have figured out how to do company valuations, it's a long and arduous process, and establish my buy limit price. What I have failed 100% of the time to do is to sell at the top. rof/% rof/% In 4 decades, I am 62 for 62 at failing to sell at the top! If I were a batter in MLB, my batting average would be .000 smi(&% - To say I have failed is an understatement. So, don't beat yourself on this. thu&¤#
Thank you for sharing all this information!︀ It's certainly a wonderful and enlightening experience to see it from your perspective. I'm mulling︁ it over. One never knows, and one can never be too careful. 😉
PS. I visited︂ Shenzhen in 1976 with my dad and HATED the fishing town. 🙄
On the other hand,︃ I also visited Caracas, Venezuela with my parents and loved it. I'm glad I had︄ NO money (I was a kid) then to buy anything because, mostly due to the︅ "Venezolanas," I would have "invested" ALL my money in Caracas, Venezuela. rof/% stupi#21 stupi#21 cry&¤ - Yeah...I'm THAT stupid︆ smi(&%
I don't feel bad, Cambodia︆ was a different place then, and I was 20 years old - not thinking about︇ investing, but enjoying and surviving Cambodia without getting shot.
And I have had 2 citizenships/passports︈ from birth already.
Always wanted to go to South America, but my Spanish is deteriorating︉ daily, and I think that I am mindset wise better off here in Asia. Though︊ Nicaragua is still on my list...
And I have had 2 citizenships/passports︈ from birth already.
Always wanted to go to South America, but my Spanish is deteriorating︉ daily, and I think that I am mindset wise better off here in Asia. Though︊ Nicaragua is still on my list...
1. In the United Arab Emirates, citizens of the European Union, USA and so on,︁ can obtain a tourist visa that allows them to stay in the country for up︂ to 90 days within a 180-day period (meaning 3 months within a 6-month period). This︃ means that you can indeed spend two periods of 2 months each in the UAE︄ in a year, while adhering to the regulations regarding the maximum number of days you︅ can spend there.
1 = TRUE OR FALSE?
2. However, to become a tax resident︆ in the United Arab Emirates, other conditions and procedures are required. Obtaining tax residency may︇ involve establishing a permanent residence, significant investments, or other specific criteria set by the tax︈ authorities in the UAE.
2 = TRUE OR FALSE?
1 = TRUE OR FALSE?
2. However, to become a tax resident︆ in the United Arab Emirates, other conditions and procedures are required. Obtaining tax residency may︇ involve establishing a permanent residence, significant investments, or other specific criteria set by the tax︈ authorities in the UAE.
2 = TRUE OR FALSE?
In which I can invest around 100k usd (or maybe a little more), and take tax residency less than 3 months stay? Thank you
But you︁ can’t take tax resident certificate as is the poster’s initial request
But you︁ can’t take tax resident certificate as is the poster’s initial request
The certificate is worthless in most cases. Why? Because it is issued by the country that has low tax. You need to check the DTA details and what you other country may consider.
Habitual stay, vital interests, etc. are the common terms used. You certificate is essential worthless as France will consider your wife in Paris more relevant than the certificate of Transnistria︀ where you stay 5 months.
You can marry some chick in the low tax place︁ and you are fine even you stay in France 180 days and travel the rest︂ in the US and Germany.
Habitual stay, vital interests, etc. are the common terms used. You certificate is essential worthless as France will consider your wife in Paris more relevant than the certificate of Transnistria︀ where you stay 5 months.
You can marry some chick in the low tax place︁ and you are fine even you stay in France 180 days and travel the rest︂ in the US and Germany.
- Status