Settle for digital nomad, where would you start?

[uplana]

The offshroecorptalk forum is full of entrepreneurs, digital nomads, tax advisors and more in the field.

Everyday I read the term digital nomads! Latest post I saw is the one:
https://www.offshorecorptalk.com/threads/new-startup-law-in-spain.35982/#post-197650

It's easy to post about a 0% tax with Dubai non resident. But how would you go about it, where would you start, if you live like 80% around here with your family, a house, a car but are willing to give this all up.

This thread should serve as inspiration for others, should we get valid replies.

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[cuno]

You need second citizenship passport to get started. Panama, Dubai VISA or Romania would be‌ a good start.

 

[Marzio]

Being a digital nomad is not feasible in the long term.

At some point you‌ will need to settle somewhere and you have to consider lots of things (taxation is‍ one of those).

 

[Golden Fleece]

Yes, as the most astute members of this forum have always said, the future is‌ all about tax minimization and the maximization of your quality of life in a country‍ that fits your personality -- not about total tax avoidance, which is a shell game.⁠

 

[kilor]

Can you explain how you become digital nomad ?

 

[troubled soul]

Digital Nomad === Ship crew/oil ring woker

I find new creative way for digital Nomad‌ lifestyle bank account.
There is account for "ship crew/marine" called sea surfer account or any‍ other name depend on country to country.

You see the "ship crew/marine" spend 6 month⁠ onshore and 6 month offshore meaning on ship. They are old age nomad.
You can⁤ find some creative way to open account for this type of category.
In this setup⁣ , You do not require any other country residency visa. If you are not from⁢ USA. There will be no tax as you do not live in country more 182︀ days in year. Just need document for your country "sea surfer account "

Basically Find︁ a way to open account as ship crew or marine depend your country bank account︂ requirement. You find many talented people to arrange this document for you

As example
Seafarer bank account
https://international.standardbank....l-bank-accounts/seafarer-bank-account?ifa=777

https://www.icicibank.com/nri-banking/bankAccounts/seafarer-accounts.page

P.S. I am not expert. Just find this solution. Before taking any decision talk︎ to some expert.

 

[cuno]

Now you will have to pattern on a ship to avoid taxes. It's not going‌ to be easy I can imagine.

 

[Golden Fleece]

Interestingly, the U.S. is‍ one the easiest countries to establish yourself as a digital nomad for income tax purposes.⁠ You meet the physical presence test if you are physically present in a foreign country⁤ or countries 330 full days during any period of 12 consecutive months including some part⁣ of the year at issue. The 330 qualifying days do not have to be consecutive.⁢

https://www.irs.gov/individuals/int...arned-income-exclusion-physical-presence-test
But it has a very interesting exception. You must spend the full day in︀ a foreign country or countries for that day to be counted. When you leave the︁ United States to go to a foreign country or when you return to the United︂ States from a foreign country, the time you spend on or over international waters does︃ not count as time in a foreign country. So, being on a ship or an︄ oil rig in international waters does not work.

 

[uplana]

to be there you will⁣ need a Green card if you don't just want to stay there as an tourist?⁢

 

[ImKing]

are you sure this is going to work, I‍ don't believe so?

 

[troubled soul]

Just thought about it.
Not sure in Practice It works or not.
But If you‌ have friend who works in Ship crew.
Maybe it works.
For small amount.

 

[uplana]

No one is interested all the trouble for small amounts, if they do, they have‌ no live.

 

[FPW]

I am curious, where is "here"?

2nd PP is not necessary but it will help, also depends⁢ on your nationality and your current PP!

for some, it might not be feasible but for some others, it might.
why is︃ taxation one of those?

why tax minimization?

I didn't︇ have to travel far away to listen to alla achbar on the speaker system to︈ become a tax-free citizen of the world!

As a PT in Europe for nearly 20︉ years, I have absolutely no problems nor bad sleep or morals by not paying any︊ income taxes! And I've stayed a lot more than six months in the same country︋ at times. Currently living in a big house in a high tax country in Europe!︌

sorry, but I can't tell you how to do it as it will close the︍ few remaining loopholes - you can get about 90% of the info which can be︎ found for free online. you need to go out there too to experience it and️ when you have gained some experience, it will be easier for you to read between‌ the lines and fill in the gap to figure out how to do it.

BUT, this is not a lifestyle that fits everyone, it might be better for you to‍ settle for tax minimization?

 

[JohnLocke]

Do you consider to post this in every post here,‍ because then better just move forward to another forum, I have sufficient to do here⁠ rather then removing traceable text!

No warning given so far.