Inexpensive Citizenship and Tax Residence Options For Indian Freelancer

[christjames]

What is the best setup for someone who earns through contracts worldwide?

What is the best way to pay zero or minimal tax? Also, considering a citizenship by investment. Please advise.

I have Indian citizenship, and I want to move to other countries. Want to get a citizenship there, and work from a country where worldwide income is taxed very less. As India forbids dual citizenship, is it still possible to get a citizenship in a different country such as through investment?

Last edited: Mar 26, 2024

 

[TheCryptoAnt]

christjames said:
What is the best setup for someone who earns through contracts worldwide?
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Go live in a mismanaged place and just live happy knowing their local IRS cant even find their own belly.

christjames said:
What is the best way to pay zero or minimal tax? Also, considering a citizenship by investment. Please advise.
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Go live in MX, TH, VN, PH or the likes and do the above.

christjames said:
I have Indian citizenship, and I want to move to other countries. Want to get a citizenship there, and work from a country where worldwide income is taxed very less. As India forbids dual citizenship, is it still possible to get a citizenship in a different country such as through investment?
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I mean you can still keep it so far they dont notice. Your issue is the immigration post when leaving India tho, but ive met a few multi-passport Indians in the last 10 years.

 

[christjames]

TheCryptoAnt said:
I mean you can still keep it so far they dont notice. Your issue is the immigration post when leaving India tho, but ive met a few multi-passport Indians in the last 10 years.
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Quite risky.

Which citizenship would you recommend? Which international bank for getting payments to avoid tax?

 

[TheCryptoAnt]

christjames said:
Quite risky.
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It is, you have to play it right.

christjames said:
Which citizenship would you recommend? Which international bank for getting payments to avoid tax?
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A CBI program probably. That depends on where you want to live, the bank is not what matters but the local IRS.

 

[jafo]

TheCryptoAnt said:
Go live in a mismanaged place and just live happy knowing their local IRS cant even find their own belly.
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This is lost on 99% of the population who is looking for a nanny state!
This man is the epitome of my adage! 😉

Nomad Capitalist has one that says: "Go where you are treated best."
I improved mine many decades ago to:
"Go where you are forgotten and left the f*ck alone." 😎

 

[Forester]

@christjames, citizenship by investment was discussed several times here, there is even a complex article on this here. Try to search 😉

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[christjames]

Forester said:
@christjames, citizenship by investment was discussed several times here, there is even a complex article on this here. Try to search 😉
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Trusted agents are quoting processing and due diligence fees of up to 25% of the investment amount. Is it legit?

 

[christjames]

TheCryptoAnt said:
It is, you have to play it right.



A CBI program probably. That depends on where you want to live, the bank is not what matters but the local IRS.
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CBI programs are having huge upfront fees with a high chance of rejection. Which agent is the best?

 

[Forester]

christjames said:
Trusted agents are quoting processing and due diligence fees of up to 25% of the investment amount. Is it legit?
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Well, to me it seems like a too expensive offer, although it can be pretty legit. Generally, anyone is usually free to ask for his service anything he wants ”“ with the exceptions when it is somehow regulated for good or less good reasons. It can be possible that especially services of CBI agents are regulated in some country ”“ but I have no information re: this.
Bottom line: Do you really need an agent? 🙂

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[TheCryptoAnt]

christjames said:
CBI programs are having huge upfront fees with a high chance of rejection. Which agent is the best?
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man tbh if you are worried about losing the 'due diligence fee' when getting a CBI passport... maybe you are not ready for it.

Most due diligence fees are less than 10k.

Forester said:
Bottom line: Do you really need an agent? 🙂
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For some its mandatory but for others no, you can apply yourself.

This being said having an agent do it for you (should) make it easier as they (again, should) know how to present the documentation, what could be wrong/missing, etc

 

[daniels27]

christjames said:
Trusted agents are quoting processing and due diligence fees of up to 25% of the investment amount. Is it legit?
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As far as I know Henley charges about 40k. And that is after they charged the government already a similar amount for setting up the program, and after the guys already got free passports just for talking to them. If you go on the government website and look up the list of agents and add the Chinese ones on WeChat, the fees will be around 5k.

It really is a matter of taste whether you like to spend a lot or not. I personally like to spend the minimum as it gives me peace of mind if I end up doing the work myself.

 

[Forester]

daniels27 said:
As far as I know Henley charges about 40k. And that is after they charged the government already a similar amount for setting up the program, and after the guys already got free passports just for talking to them. If you go on the government website and look up the list of agents and add the Chinese ones on WeChat, the fees will be around 5k.
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Just out of curiosity, what country are you talking about / referring to?

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[daniels27]

Forester said:
Just out of curiosity, what country are you talking about / referring to?
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The quote Henley send me was 40k USD for Antigua & Barbuda and 30k USD for St Kitt & Nevis (it is called Saint Kitts and Nevis but almost the same).

 

[Forester]

daniels27 said:
The quote Henley send me was 40k USD for Antigua & Barbuda and 30k USD for St Kitt & Nevis (it is called Saint Kitts and Nevis but almost the same).
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Clear. Thanks for sharing...

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...