Understood, life there is quite boring.
But with big tax savings (compared to other places) and low stay requirements maybe you could use that extra money to travel and spend time abroad, while maintaining the tax residency there.
Where would you move if you had a Family?
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But with big tax savings (compared to other places) and low stay requirements maybe you could use that extra money to travel and spend time abroad, while maintaining the tax residency there.
I was just looking into Andorra today, being in continental Europe and within driving distance from much of Spain and France makes it an enticing option.
Now we just need to convince my big city American wife to move to a goofy country in the mountains 🙂
1. Consulting (non-incorporated) - 100% US clients
2. Sale of digital products (non-incorporated) - Worldwide clientele
My current setup will probably not fly in most countries as very few have a strong "sole entrepreneur" legal and practical framework, so I will probably have to incorporate somewhere as well.
I would have moved to Cyprus in a second, but I'm not the only one deciding unfortunately.
There are three McDonald's and one Starbucks in the capital of Andorra. That should do it 😛.
What about moving to San Marino?
I can already see your wife telling all her friends "i'm moving to Italy bitches"
Marzio said:
What about moving to San Marino?
I can already see your wife telling all her friends "i'm moving to Italy bitches"
Click to expand...
^ This guy knows women!
Thanks! I will look into San Marino more seriously.
That's interesting, is there any reason why do you believe this will be the case for East Africa specifically?
Marzio said:
What about moving to San Marino?
I can already see your wife telling all her friends "i'm moving to Italy bitches"
Click to expand...
Actually this is better than Andorra.
More pleasant weather and you can be in Florence in a couple of hours. Being so close to one of the most beautiful cities in the world should certainly convince OP's wife.
If there's a need to incorporate in San Marino, it's not that bad either, as corporate tax is 17%.
Both Andorra and San Marino are pretty isolated in terms of international travel though. San Marino might be slightly better, but traveling abroad would almost always require a trip to a nearby city first.
I don't have to deal with it. I pay 19-28 % on the investments I do the same as for dividends
That is an option I have not considered. Pass a salary in the minimum threshold to maintain the residency conditions, and then get the rest as a dividend. Thanks!
There is a reason why San Marino has a visa waiver agreement with China for a very long time: they gain while not giving away anything. How can you travel from China to San Marino without touching Schengen?
The 15% is only for 2 years. After that you'll have to pay 25% corporate tax.
Dividends are on top of that. Capital gains tax is 19%-26%. Social security, etc. is relatively high as well.
Spain is a great place to live but you don't go there to save on taxes. You have to go there with the mindset that you'll spend a lot on taxes but you'll get your money worth (great roads, healthcare, free schools, decent air quality, etc.)
Whether you get your money worth or you can get the same things in return for free or cheaper somewhere else is a matter of personal preference.
I think Spain makes little sense if you're focusing on earning money, but can be a good place to retire or semi-retire.
San Marino doesn't have any international schools, so it's not ideal for expat families needing such options.
Andorra has a few international schools, but choices are limited, which could be a challenge if you need a specific curriculum or there's high demand.
Andorra has a few international schools, but choices are limited, which could be a challenge if you need a specific curriculum or there's high demand.
There's an IB school in Rimini (30 minutes away from San Marino), and a British school too.
Public schools in San Marino and Italy are pretty good though.
Exactly that's how I consider Spain. I am ready to pay taxes here. Capital gains tax is 15-28 btw
And the corporate tax is 15 for the first 2 profitable years, afterwards it can be 23 if the turnover is less than 1 mln
If more - than yes it's 25
Thailand just announced new visa policy starting from June 1st. 5 year visa sounds interesting, finally no visa runs?
https://www.bangkokpost.com/thailand/general/2800891/new-visa-promotions-retiree-insurance-reduced
https://www.bangkokpost.com/thailand/general/2800891/new-visa-promotions-retiree-insurance-reduced
Wow! Thailand might have undergone a moment of genius.
Interesting to hear what @wellington's opinion is on this.
Thanks for sharing.
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