Matthew Goss, Simon Gerrans, Dave Tanner, Mark Renshaw, Theo Bos, Richie Porte,Calvin Watson, Peter Sagan, Tim Wellens, ...Some of them for sure are big names like Sagan who can easily afford but some of the others are for sure pro cyclists with a good reputation but nowhere near someone like Sagan who is making 5 million euro / year, anyways was just wondering because I see the requirements for Monaco all the time here.
What country would you choose to relocate to avoid taxes?
- Thread starter Spinat
- Start date
- Status
Yeah there are many other there too, even managers like Vinokourov, Bradley McGee. Also Froome there, but he's got the money 🙂
I count at least 50+ pro cyclists or ex pro-cyclists living (or "living") in Monaco right now.
I count at least 50+ pro cyclists or ex pro-cyclists living (or "living") in Monaco right now.
I recommend uk, this is after brexit offshore country. Low taxes, privacy and there are some good options about investments.
Hei guys, first post here, great to see a thread talking about this.
I'll share my research in the most interesting low tax countries to live in. I have factored cost of living, difficulty of obtaining residency, minimum days to live to be considered tax resident and whether it's a desirable place to live. I have personally been living in Andorra for a few years now with pretty much my entire income comming from capital gains, so if you have questions about Andorra feel free to ask.
Europe:
Non-Dom jurisdictions are quite interesting - Malta, Ireland, UK, Cyprus. You don't pay anything that's generated abroad,︀ you only pay taxes on the money you actually bring into the country.
UK -︁ might be a bit hard to get residency now with Brexit if you live off︂ passive income.
Ireland - requires 183 days to live there, otherwise it seems like a︃ fine place but high cost of living if you want to live in Dublin.
Malta - Malta has a very interesting programme where you need to have a place rented︄ that costs 10k€/yr minimum AND you need to pay a minimum 15k€/year in remmitance taxes︅ but you don't have a minimum stay in the country to obtain tax residency. So︆ basically you pay a lump sump of 15k plus the 10k in rent and you︇ are free to live anywhere as long as you don't live more than 183 days︈ somewhere else.
Cyprus - there's a 90 day residency but you need to setup a︉ company. Overall I'd choose Malta or Ireland over Cyprus.
Latin America:
Panama - Up until︊ last year it was very easy to get residency there creating a company but they︋ currently require an investment of 200k USD in real state or a deposit - You︌ need to live 183 days for tax residency. Tax free for everything that's generated offshore.︍
Costa Rica - Similar to Panama I believe.
Asia:
Thailand - they have a program︎ called Thailand Elite which allows you to reside legally there for 5 days for 15k$.️ You need to spend 183 days there but all the income generated outside of the country is tax free.
Malaysia - they have a program called Malaysia my second home, but last year they significally increased the requirements. I believe you now need to deposit around 200 or 250k $ in their currency (ringit) to obtain residency. You have to reside a minimum of 90 days and everything generated offshore is tax free.
HK/Singapore : I see a lot of people talking about HK and Singapore and even though they seem great places to live in I think that getting residency there is quite hard︀ or it costs much more money than other alternatives.
I'll share my research in the most interesting low tax countries to live in. I have factored cost of living, difficulty of obtaining residency, minimum days to live to be considered tax resident and whether it's a desirable place to live. I have personally been living in Andorra for a few years now with pretty much my entire income comming from capital gains, so if you have questions about Andorra feel free to ask.
Europe:
Non-Dom jurisdictions are quite interesting - Malta, Ireland, UK, Cyprus. You don't pay anything that's generated abroad,︀ you only pay taxes on the money you actually bring into the country.
UK -︁ might be a bit hard to get residency now with Brexit if you live off︂ passive income.
Ireland - requires 183 days to live there, otherwise it seems like a︃ fine place but high cost of living if you want to live in Dublin.
Malta - Malta has a very interesting programme where you need to have a place rented︄ that costs 10k€/yr minimum AND you need to pay a minimum 15k€/year in remmitance taxes︅ but you don't have a minimum stay in the country to obtain tax residency. So︆ basically you pay a lump sump of 15k plus the 10k in rent and you︇ are free to live anywhere as long as you don't live more than 183 days︈ somewhere else.
Cyprus - there's a 90 day residency but you need to setup a︉ company. Overall I'd choose Malta or Ireland over Cyprus.
Latin America:
Panama - Up until︊ last year it was very easy to get residency there creating a company but they︋ currently require an investment of 200k USD in real state or a deposit - You︌ need to live 183 days for tax residency. Tax free for everything that's generated offshore.︍
Costa Rica - Similar to Panama I believe.
Asia:
Thailand - they have a program︎ called Thailand Elite which allows you to reside legally there for 5 days for 15k$.️ You need to spend 183 days there but all the income generated outside of the country is tax free.
Malaysia - they have a program called Malaysia my second home, but last year they significally increased the requirements. I believe you now need to deposit around 200 or 250k $ in their currency (ringit) to obtain residency. You have to reside a minimum of 90 days and everything generated offshore is tax free.
HK/Singapore : I see a lot of people talking about HK and Singapore and even though they seem great places to live in I think that getting residency there is quite hard︀ or it costs much more money than other alternatives.
What old regulations? It's essentially like the Elite visa, but for a fraction of the cost. You're also officially allowed to have a remote job.
What are the tax implications with the dtv visa? If one lives more than 183 days or less? Is it better than malaysia, indonesia and Philippines in terms of taxation in your opinion? I'm seriously considering south east Asia but not able to make up my mind on Malaysia to live just for tax purposes until 2026
Very good and valid︆ points, from my research I also noticed that you can offset the higher cost of︇ obtaining residency thru investment by just opening a company in countries like Malaysia and panama,︈ it costs way less amd is much much easier in my opinion. You are not︉ going to be treated any differently when it comes to taxes, foreign income will be︊ tax free??
Very good and valid︆ points, from my research I also noticed that you can offset the higher cost of︇ obtaining residency thru investment by just opening a company in countries like Malaysia and panama,︈ it costs way less amd is much much easier in my opinion. You are not︉ going to be treated any differently when it comes to taxes, foreign income will be︊ tax free??
- Status