What are the real ways someone from a high tax EU country can become a perpetual traveller?
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Not having any income means living like a ghost. It depends on how much you inherit, because what you inherit will be what you will be able to justify as "yours". If you want to buy a house in europe without income, good luck, there will be questions for which the answer will be difficult
what
Ive never inherited anything, I come from a poor background. I dont have many things 'on my name' neither, just some cash on Wise and a laptop+some clothes.
Theres no way on earth I buy re in Europe, I rent were I live (which is not in Europe atm)︀
But I can tell you that cash transactions from foreign entities/persons (by this I mean︁ no financing) for flats/houses in the EU are very common and not as scrutinized as︂ local transactions.
Ive never inherited anything, I come from a poor background. I dont have many things 'on my name' neither, just some cash on Wise and a laptop+some clothes.
Theres no way on earth I buy re in Europe, I rent were I live (which is not in Europe atm)︀
But I can tell you that cash transactions from foreign entities/persons (by this I mean︁ no financing) for flats/houses in the EU are very common and not as scrutinized as︂ local transactions.
Living like a ghost means having nothing, absolutely nothing in your name. I only have part of houses︀ inherited from my father, shared with my mother and brother. No car, no wife, no︁ kids, no scooter, no rental contracts ( pay everything cash ), nothing, just wise and︂ UAE accounts.
Cash transactions might be less scrutinized but it all depends on how much︃ cash we are talking about and where you buy. And a foreign entity usually needs︄ a registered contact to buy something, while a foreign person might go unnoticed. It all︅ depends, if I bought a 250k house in France, a country where I spend a︆ month each year, and then have have nothing fancy in france, I could probably go︇ unnoticed, but if I buy a house in Ibiza, which is not less than 600k︈ for a 2 bedrooms, the hacienda would be on my neck in not much time.︉
And if you are a foreigner to live in the EU you will need to︊ prove you have money, and if you buy something fancy you might get scrutinized. So︋ in the end for a period of life, or for your whole life, not having︌ any income might work, as long as you live under the radar, so forget the︍ fancy cars. Dubai exists exactly for that reason, you can make a lot of money,︎ pay no taxes on it, and actually spend it without worry, that's the whole "Dubai️ package"
Cash transactions might be less scrutinized but it all depends on how much︃ cash we are talking about and where you buy. And a foreign entity usually needs︄ a registered contact to buy something, while a foreign person might go unnoticed. It all︅ depends, if I bought a 250k house in France, a country where I spend a︆ month each year, and then have have nothing fancy in france, I could probably go︇ unnoticed, but if I buy a house in Ibiza, which is not less than 600k︈ for a 2 bedrooms, the hacienda would be on my neck in not much time.︉
And if you are a foreigner to live in the EU you will need to︊ prove you have money, and if you buy something fancy you might get scrutinized. So︋ in the end for a period of life, or for your whole life, not having︌ any income might work, as long as you live under the radar, so forget the︍ fancy cars. Dubai exists exactly for that reason, you can make a lot of money,︎ pay no taxes on it, and actually spend it without worry, that's the whole "Dubai️ package"
Checks out, Ive nothing on my name at this point.
Yeah this is legit.
Why buy and not rent? I see re as a liability unless it produces some income︁ (rental/airbnb/etc) and if you live there only 1 month of the year then its kinda︂ useless.
This is true but it doesnt apply to me as︅ I have an EU passport.
You can︈ rent cars through your company, same with fancy houses, pay for meals, etc.
What you︉ need is a travel blog.
True but long term Dubai kinda︌ sucks imo. For a few months of the year is fire I'll give you that.︍
Being a 'perpetual traveler' can be done and you dont have to move constantly but︎ every few months. Some locations are very easy to work with, while others are less️ so.
Don't buy s**t, rent it.
Its a somewhat solitary life I'll give you that.
Yeah this is legit.
Why buy and not rent? I see re as a liability unless it produces some income︁ (rental/airbnb/etc) and if you live there only 1 month of the year then its kinda︂ useless.
This is true but it doesnt apply to me as︅ I have an EU passport.
You can︈ rent cars through your company, same with fancy houses, pay for meals, etc.
What you︉ need is a travel blog.
True but long term Dubai kinda︌ sucks imo. For a few months of the year is fire I'll give you that.︍
Being a 'perpetual traveler' can be done and you dont have to move constantly but︎ every few months. Some locations are very easy to work with, while others are less️ so.
Don't buy s**t, rent it.
Its a somewhat solitary life I'll give you that.
Works well if you have to pay no taxes. No one will ever blame you nor will Wise have any issues if you do that.
Well in fact I always rent everything. If you buy, that's something that gives you some ties to a place. Having said that, having at least one proprietary house is a good practice, since I will end up without a pension, but I'm going to inherit one, and in case I will sell that one and buy another one
The Hacienda or any other Fiscal Authority is not made of idiots:︂ They will go to the company and dig who's behind it and if the travel︃ blog makes any money. And if you start faking things, you start getting into criminal︄ offence, so you start risking jail time. Especially in your home country, if they put︅ eyes on you. My advice, stay away from luxury in Europe, if you want luxury,︆ Dubai is the place where you get it, because nobody will double check
I currently live 4 months in︌ Ibiza, 3 in Dubai, 3 in my home country and the rest depending on the︍ year, usually France, Switzerland and Greece. so yes you don't need to change every two︎ weeks, and as long as you lay low in the place where you risk most️ ( in my case it's my own country and spain ) not much can happen, you just have to respect the rules. But I am over 40, I've been doing this for 10 years, I'm sure I don't want family or kids, and if I ever wanted to settle down somewhere I would get 2 or 3 tax certificates in Dubai to be on the safe side and have clean money. But younger, more normal people, those who want a family and kids, need to be aware that at some point perpetual travelling becomes impossible. And you must think well about that point, because if︀ you re-enter your home country with a lot of money, controls will be made. Remember︁ that if you are not tax resident anywhere, you are technically speaking tax resident in︂ your home country, so never go back there.
The Hacienda or any other Fiscal Authority is not made of idiots:︂ They will go to the company and dig who's behind it and if the travel︃ blog makes any money. And if you start faking things, you start getting into criminal︄ offence, so you start risking jail time. Especially in your home country, if they put︅ eyes on you. My advice, stay away from luxury in Europe, if you want luxury,︆ Dubai is the place where you get it, because nobody will double check
I currently live 4 months in︌ Ibiza, 3 in Dubai, 3 in my home country and the rest depending on the︍ year, usually France, Switzerland and Greece. so yes you don't need to change every two︎ weeks, and as long as you lay low in the place where you risk most️ ( in my case it's my own country and spain ) not much can happen, you just have to respect the rules. But I am over 40, I've been doing this for 10 years, I'm sure I don't want family or kids, and if I ever wanted to settle down somewhere I would get 2 or 3 tax certificates in Dubai to be on the safe side and have clean money. But younger, more normal people, those who want a family and kids, need to be aware that at some point perpetual travelling becomes impossible. And you must think well about that point, because if︀ you re-enter your home country with a lot of money, controls will be made. Remember︁ that if you are not tax resident anywhere, you are technically speaking tax resident in︂ your home country, so never go back there.
Not my style but understandable. I dont want nothing on my name.
The travel blog does make money in my case,︃ its not a dummy website but a real income producing project. I even employ two︄ girls through Fiverr.
You are overreacting imo, no tax agency is gonna go after you︅ cause you rented a Rrari for 3 weeks while staying in the country for 2︆ months.
I left my homes country tax net years ago. The one im registered in︇ now leaves me alone.
My advice, stay away fro, Europe all together. And if you︊ really like it dont spend more than 3 months out of the year.
You are geolocating yourself inside the same region by doing this, with the exception of︎ Dubai.
I understand your concerns now.
Just dont do it.
Yeah, its fun to travel with the lil shits for a few years but eventually gets complicated as they get older and need school, etc
Again, Ive no income. Im not coming back to no country with no money.
Im a tax resident in a country, I just dont make any money.︁
You seem to be confusing my situation with some sort of magical 5 flags/perpetual traveler︂ history from 10 years ago type scenario.
The travel blog does make money in my case,︃ its not a dummy website but a real income producing project. I even employ two︄ girls through Fiverr.
You are overreacting imo, no tax agency is gonna go after you︅ cause you rented a Rrari for 3 weeks while staying in the country for 2︆ months.
I left my homes country tax net years ago. The one im registered in︇ now leaves me alone.
My advice, stay away fro, Europe all together. And if you︊ really like it dont spend more than 3 months out of the year.
You are geolocating yourself inside the same region by doing this, with the exception of︎ Dubai.
I understand your concerns now.
Just dont do it.
Yeah, its fun to travel with the lil shits for a few years but eventually gets complicated as they get older and need school, etc
Again, Ive no income. Im not coming back to no country with no money.
Im a tax resident in a country, I just dont make any money.︁
You seem to be confusing my situation with some sort of magical 5 flags/perpetual traveler︂ history from 10 years ago type scenario.
You should not and can not generalize.
It depends on many factors, starting with your home country's tax laws.
It depends on many factors, starting with your home country's tax laws.
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