Digital Nomad / Perpetual Traveller - 0% tax with US LLC

[backpacker]

derpderp said:
Then the whole thing about substance and the authorities demanding corporate tax retrospectively there are some huge red flags.
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Georgia is o.k. for a retiree with some foreign-sourced capital gains (no matter if crypto or securities, as long as he is not a day-trader) or real dividends.
For all others there are much better (i.e. safer) jurisdictions on Planet Earth! I never understood this hype around Georgia with regards "business": It is highly bureaucratic and the legal system is all but mature.

 

[orangekangaroo]

Bagpacker said:
Georgia is o.k. for a retiree with some foreign-sourced capital gains (no matter if crypto or securities, as long as he is not a day-trader) or real dividends.
For all others there are much better (i.e. safer) jurisdictions on Planet Earth! I never understood this hype around Georgia with regards "business": It is highly bureaucratic and the legal system is all but mature.
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I think the low cost of living element attracts people and the fact that you can easily migrate. Citizens of 98 countries can stay for 1 year without a visa. There are not many other countries that do that. For my type of business, I have not seen any benefits of wanting to relocate to Georgia.

 

[backpacker]

orangekangaroo said:
I think the low cost of living element attracts people and the fact that you can easily migrate. Citizens of 98 countries can stay for 1 year without a visa. There are not many other countries that do that. For my type of business, I have not seen any benefits of wanting to relocate to Georgia.
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Indeed, that's the reason.
Sadly, the very same people believe that they need to start (or bring with them) a "business" and that's where problems begin.
Georgia is a country where one can live cheap and quiet as long as he/she does not engage in any business activity. Even the tax code was constructed this way: The sole intention to switch to territorial taxation for private individuals (it was under the traumatic event of the Russian-Georgian war in 2008) was to attract retirees and self-sufficient affluent people to retire in Georgia.