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When I moved to Dubai, I declared myself non-resident in UK for tax purposes. Dubai was tax-free. Now I find myself resident in two countries for tax purposes a
by davewasthere 10y ago
When I moved to Dubai, I declared myself non-resident in UK for tax purposes. Dubai was tax-free. Now I find myself resident in two countries for tax purposes and paying tax in both. But I've mixed feelings about it. I'm actually quite happy to pay taxes back in the UK, less keen on paying taxes in Australia, as they're rather scummy these days to NZ citizens, so I'm getting a little screwed over with no path to permanent residency, very little benefits, yet still have to pay full whack of tax... Lovely. (Fuck Australia)
But, in your situation, moving every 2-3 months can mean you might actually avoid tax residency in most countries. So it can be complex. Look into the three or five flags theory for perpetual travellers. Also into tax-residency rules of the countries you'll be staying in.
Essentially you want to have your citizenship somewhere where your foreign income is not taxed. Have a legal residence somewhere with low tax/tax haven. Earn your money/host your business somewhere with low corporate rates, have your assets somewhere where they aren't taxed massively and spend your money somewhere with low levels of consumption tax/VAT.
As for visas, it's really just travelling at a slower pace. While working remotely, it's kind of a blurry situation. Mostly though, as long as you don't remain longer than six months in one country, you're unlikely to fall foul of residency laws (for tax purposes).
- tornadoboy55 10y ago> Essentially you want to have your citizenship somewhere where your foreign income is not taxed. Have a legal residence somewhere with low tax/tax haven. Earn your money/host your business somewhere with low corporate rates, have your assets somewhere where they aren't taxed massively and spend your money somewhere with low levels of consumption tax/VAT. How to be a societal leech and contribute the absolute least you can 101. Sickening.
- return0 10y agoApart from showing your revulsion to said lifestyle, which is indeed problematic but bound to become more popular in the future, you might also consider that this is acceptable since decades for the Jet set (who employ all of these techniques to the max), but not for ordinary 'nomads'.
- MichaelBurge 10y agoIf choosing to mitigate taxes is wrong, is it also wrong to choose not to donate additional money to the US treasury? It seems unlikely that the legal tax rate is the precise amount of money that you should owe society if you calculated it from first principles somehow. And so either mitigating taxes or donating additional taxes would be the 'moral' thing to do.
- daflip 10y agoAre you saying if you had the opportunity to do this you'd opt not to and instead pay taxes?
- acedinlowball 10y agoWhat an incredibly naive and immature way of framing the situation. You can't be older than 13 years old.
- bogomipz 10y agoYour over the top and uncalled for moral judgements aside, did you not read the part where they said? "I'm actually quite happy to pay taxes back in the UK,..."
- bogomipz 10y ago>"look into the three or five flags theory for perpetual travellers" I am not familiar with this theory. Can you explain what it is? Thanks.