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]

Go live in a mismanaged place and just live happy knowing their local‌ IRS cant even find their own belly.

Go live in MX, TH, VN, PH or the likes and do the above.⁤

I mean you can︁ still keep it so far they dont notice. Your issue is the immigration post when︂ leaving India tho, but ive met a few multi-passport Indians in the last 10 years.︃

 

[christjames]

Quite risky.

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

 

[TheCryptoAnt]

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.

 

[jafo]

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 😉

 

[christjames]

Trusted agents are‍ quoting processing and due diligence fees of up to 25% of the investment amount. Is⁠ it legit?

 

[christjames]

CBI programs are having huge upfront fees with a high⁠ chance of rejection. Which agent is the best?

 

[Forester]

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? 🙂

 

[TheCryptoAnt]

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.

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, what︀ could be wrong/missing, etc

 

[daniels27]

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 lot︀ or not. I personally like to spend the minimum as it gives me peace of︁ mind if I end up doing the work myself.

 

[Forester]

Just out of curiosity,⁣ what country are you talking about / referring to?

 

[daniels27]

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]

Clear. Thanks for sharing...