You do have Gibraltar Category 2 residency.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
How to avoid wealth tax in Switzerland?
- Thread starter Blockvol
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You do have Gibraltar Category 2 residency.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Can't you just pick a tropical island and pay zero taxes legally and hassle-free?
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
You mean like me 😉.
Great idea if you like a slower lifestyle. Island living is not for everyone however.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
spending 6k / month in France 😉 is def not a low profile if average Joe makes like 2k/month.
Slower? Perhaps outside if you sell conch on the street, otherwise life can be as fast and busy as you want it to be if you are self employed
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
Do not forget that even the if you find a country which gives you a tax residency certificate with zero-presence-requirement, it is highly likely that the other country were you want to apply it for DTA reasons will not accept it.
Finally, one smart person who understands reality! It's shocking to me we have so many cheerleaders of the State here, which makes me wonder if they are not controlled opposition and have infiltrated this forum.
Have you found a solution to this?
I pay wealth tax (Italian side) based on what my accountant said i was worth.
I never corrected him, he never asked, and that was the end of it, it's roughly 0.05% or something silly.
In the grand scheme of things it's not much, Non-Resident, Non-Citizen.
Crypto is tax free i believe in switzerland, will have to ask a friend but pretty sure that's the case... again, in my position, the accountant told me i was worth x, i never argued or said anything different, there was a twinkle in his eye and it was a nice amount for the canton so everyone is happy.
Ergo - let your accountant deal with it...
"Let the accountant (or even lawyer) deal with it?"
If I get kidnapped (they call it sentenced and remanded to prison) will the accountant or lawyer own up to their mistake and take my place and pay the fine?
Not being a smart a*s. Just want to learn how others reconcile with this reality...
ok "reality".
What exactly do you want to hear? the truth?, ok, you either live in a tax free country or in a territorial tax country whom: 1 - tax office doesn't give a f**k (short term living) 2- manage your offshore assets, offshore, that means that all your oversees assets are being managed by a team of people offshore and key managing decisions are done offshore ( and document all of that) (long term living).
Being a perpetual traveler is a thing from the past, almost all countries want to know your "base" or to be more specific, your "tax base" specially for banks.
That's the reality.
Last edited: Sep 29, 2022
I gave you a like, but I've been traveling since 2009 after a huge windfall. Staying at hotels or executive apartments. This is a fact! Credit card receipts and all. My home country is an island I left in 1980 at 15 when I went abroad to prep school/college. Never returned there. My passports are European (my parents were European and the island I was born on used to be a territory (colonialism), so I kept my parent's passports and the colonial passport. They are NOT the same). This is my reality. There isn't a place in the world, except Monaco, I have found where I wanted to settle and buy a home. Monaco will allow me but I have to spend 183 days there. That is never going to happen. I love my life traveling the world too much to be stuck somewhere. What would you do if you were me?
Why not park your assets as a share capital contribution to a company in a juristiction with no income tax or wealth taxes? Also for example Estonia could be interesting
You can inject your crypto to a company, and then live on capital reductions (which is not considered income or taxed).
You only pay tax when the company distributes dividends. Spend maybe 1 day per year there, yet keep tax residency.
It depends:
- If you trade for a living (professional trader) capital gains from crypto will be taxed.
- If you do it as a private individual (limited turnover, only a few trades per year), capital gains are not taxed. However, wealth taxation is still applicable.
I believe you can get the best results in tax planning/asset protection/personal freedom/wealth growth when you combine multiple jurisdictions, and its also important to consider how your structures support your lifestyle.
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