Tax strategies for 2024, new game?
- Thread starter pieceofmind
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Thailand is still very much a good solution. Build wealth whilst residing in, control your expenses so your remittance taxes are low - then head where ever you like and invest the wealth built into the rest of your life be it property at home or other.
What's it like these days? When I was residing there there was constant gang killings in the evenings
I wouldn't do either.
Pretty good actually. Depends where you live as Bahamas is a collection of over 2,000 islands and islets. You will find crime in some of the populated areas outside gated communities.
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I have no problems to pay some tax if the people called State would do their work and not just fill their own pockets. There is no trust any longer to the authorities anywhere.
Same here.
I was thinking about going to Cyprus but maybe it wont work due to my activity
Ive been told CFC and PE rules arent applied in Thailand and Panama (or are managable)?
Part of my activity is sports betting, I've read that betting in non-licensed sportsbooks by Cyprus is not allowed.
100% wtf right these days. I pay tax and still got fucked over by the state - so i made a promise never to pay one cent ever again -
go to the north?
Agreed. More than happy to pay tax. Even up to 25-30% as long as the money as well spent.
The problem is the people spending our money are so beyond incompetent that the only logical conclusion is that they are attacking/subverting us with our own money.
Having just moved to Cyprus, I can say that Cyprus is big enough that I don't feel constrained here. I think the true feeling of living on an island comes from living on SMALL islands. There are multiple cities here, all within a short driving distance, each with their own flavour and character and each big enough that they have enough stuff to do. In my previous country, I did not drive further than I do in my new country, and I took a plane to do most of my travelling anyway.
Where did you move from?
How was the bureaucracy?
How long are you on the island? What city?
Congrats with your new life. I was wondering how long it took you to find something well to live in and do you rent or buy?
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Cyprus is OK
It has all the pros of a proper tax base including very reasonable taxation both on corp and personal level, non-dom, local laws are reminiscent of English law, food, nature and climate are OK, there are some proper schools and some entertainment.
It also has all the cons of a tax heaven including overpriced property market and terrible building quality, high prices on almost everything due to export, general laziness and low qualification of government services and tradesmen, exhausted healthcare and education and a constant construction.
It's also one of the few places where you can stay all year long and don't get washed away by a hurricane of suffocated to death by desert.
I am still considering Cyprus as my "plan B" tbh.
It has all the pros of a proper tax base including very reasonable taxation both on corp and personal level, non-dom, local laws are reminiscent of English law, food, nature and climate are OK, there are some proper schools and some entertainment.
It also has all the cons of a tax heaven including overpriced property market and terrible building quality, high prices on almost everything due to export, general laziness and low qualification of government services and tradesmen, exhausted healthcare and education and a constant construction.
It's also one of the few places where you can stay all year long and don't get washed away by a hurricane of suffocated to death by desert.
I am still considering Cyprus as my "plan B" tbh.
I rent - I used bazaraki which is an all-purpose classified ads site. Didn't take long to find a rental
I'm in Nicosia, the capital.
Everything is being done through a firm I hired. Took a few weeks to set up a corporation. I haven't had any personal experience with the bureaucracy yet outside of arranging utilities for my place, which wasn't too arduous.
What more do you know about the healthcare here? I had to go to the emergency room bc I fell off my motorbike and cut my hand on the road. I also needed an xray to rule out a fracture. The first 'private' hospital I went to, they told me I would wait 2.5 hrs to be seen bc they were seeing GESY (public system) patients along with privates. I took a taxi to another private hospital and was seen immediately. The place was empty on a Thursday afternoon. I was not impressed with the skills of the emerg doc or of the orthopedic surgeon.
Every place has its drawbacks obviously. The pros of Cyprus for me were:
-english is spoken enough that it just makes everything much easier. You can make friends with the locals.
-I've found the locals to be quite friendly and welcoming
-corp tax 12.5% - gov very easygoing with deductions from what my accountant tells me
-non-dom program for 17 yrs
-if you become the director of a company, you only have to spend 60 days here as long as you don't become tax resident elsewhere, so if you find it tedious, you can go live in 2 other countries for 5 months each. Nicosia is 40-44 degrees in the summer so leaving is not such a bad idea although you can just go to Ayia Napa like the locals do.
Last edited: Mar 18, 2024
It's like the worst of British NHS and a typical southern healthcare system - they both make you wait for ages and then treat everything with ibuprofen and at the same time it's full of bored retirees who have nothing better to do than spending time in the hospital.
Never used ER, so have nothing to say.
Exactly, it's not a bad place overall. It's just not a "hidden gem", it's overcrowded, overpriced and full of Russians nowadays. But it ticks most of the boxes of a proper tax base/family place so it's on my list.
It's the same where I live. The retirees and even many younger people (especially women) are bored and think that doctors are their best friends. When they don't know what to do, they invent some kind of illness, filling up doctors' offices and hospitals! When someone who is truly sick comes in, there are long waiting times.
That's why a small co-payment should be introduced for everyone. It doesn't have to be much, but just a little would be enough to make the retirees think twice.
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Campione d'Italia any info? - there are some good places discussed here, I mentioned a few jurisdictions we considered.
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