They won't ask in his case. If you own a house and actually live there.
For other cases, it could make sense but not many countries care much about that.
Considering setting up an offshore company to legally optimize taxes
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For other cases, it could make sense but not many countries care much about that.
How about germany? If you are there 5-6 months a year they could care if you have a real residence somewhere else right?
What is the case? You are a perpetual tourist from Italy and want to spend some time in Germany?
It really depends on many factors. But most countries are quite aggressive about those leaving on paper but still there.
It boils down to two questions.
1. What kind of lifestyle do you want? You can have a lifestyle for 20k/year in some of the mentioned countries, which would cost you in Dubai 20k/2 months. On the other hand, if you plan to spend 200k/year on life, Dubai can give you a lifestyle that is not achievable in some of the mentioned countries.
2. Do you plan to travel frequently / live as a perpetual traveler? If yes, this eliminates some countries that require 183+ days.
1. What kind of lifestyle do you want? You can have a lifestyle for 20k/year in some of the mentioned countries, which would cost you in Dubai 20k/2 months. On the other hand, if you plan to spend 200k/year on life, Dubai can give you a lifestyle that is not achievable in some of the mentioned countries.
2. Do you plan to travel frequently / live as a perpetual traveler? If yes, this eliminates some countries that require 183+ days.
Why does it eliminate it? He can still be there exit living on his residency elsewhere. Maybe Paraguay with @NewHorizonsParaguay
I think that Uruguay does issue first a temporary residency. To obtain permanent one, you have to spend 183+ per year. At least the first year. Maybe they changed it. I don't know.
Who cares. Many there do. Then just stay there on paper. Or leave on paper and come as tourist for 180 days or less and save the hassle of the visa.
For Norway there are some important aspects you need to consider. If you have lived in Norway more than 10 years, you will stay tax resident for at least 3 years after you have moved out of Norway. To avoid having to pay Norwegian tax you can use a tax treaty.
If you currently are paying wealth taxes then you need to move to another country that has wealth taxes in order for the tax treaty to cover the wealth taxes. That's why most wealthy norwegians move to Switzerland, as they have (low) wealth taxes which makes that you don't have to pay the (higher) wealth taxes in Norway.
There is also another norwegian rule that can help you avoid tax on salary income (but not on dividens, capital gains, wealth tax). So if you live in a tax free country or a country that don't care to much about your foreign income then you can get the salary tax free. I don't know exactly how much you could claim as salary, I'd think 4M NOK is probably too high to be only salary, so some of it would be dividends. If you open a new tax free company like a US LLC (which is not considered pass through in Norway) then you could leave some earnings there until you've become non tax resident in Norway, however the increased value of the company would be subject to the exit tax, and also wealth taxes (unless you can use a tax treaty like the Swiss one).
Not clear what you mean by that, but as I explained, to avoid wealth tax in Norway you need to use a tax treaty with another country that also has wealth taxes.
I have a lifestyle today of 400K - 500K converted to Euro, I have never been in Paraguay maybe it's time to go there to see.
Thank you, very important to know, fantastic.
I will have to discuss this with my accountant, useful information, thank you very much.
The salary exemption rule is called "ettårsregelen".
He would have to stay in Switzerland 3 years, as one stays tax resident in Norway 3 years after moved out.
He could chose to move to another tax free country and keep paying norwegian wealth taxes. Depending on the amounts, it might not be more than other taxes he'd have to pay in Switzerland.
You are more than welcomed to come for a visit. Reach me out, I'll show you around.
I would read some of the many posts from a given service provider here on OCT before using one.
Check out what they write about and see how other users react.
This gives you a good indication of how skilled they are and how useful their advice might be.
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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
Check out what they write about and see how other users react.
This gives you a good indication of how skilled they are and how useful their advice might be.
Toggle signature
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
Do you think the Norwegian authorities would conduct any kind of research if someone moved away and never returned, completely disappearing, for example, to Paraguay?
When deregistering in Norway, you can simply provide a different address and country than where you're actually moving to. Would they even check it?
A good idea is to convert all fiat into crypto so you can move it easily and seamlessly without leaving any traces.
When deregistering in Norway, you can simply provide a different address and country than where you're actually moving to. Would they even check it?
A good idea is to convert all fiat into crypto so you can move it easily and seamlessly without leaving any traces.
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