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Taxes: It depends on your citizenship, nominal or achievable tax residency status and plans for the future whether you benefit from paying taxes in a given juri
by contingencies 10y ago
Taxes: It depends on your citizenship, nominal or achievable tax residency status and plans for the future whether you benefit from paying taxes in a given jurisdiction, as well as that jurisdiction's regulations. You can pay in to multiple jurisdictions if you want, and sometimes this may be smart. You can pay it as various corporate taxes, or you can pay it as personal income tax. Sometimes you can avoid tax entirely (eg. structure a company to operate at a loss, and keep profits outside the country of tax residency in a special low or no tax jurisdiction - large companies do this all the time, though it is becoming very much frowned upon it is still pretty damn common). Note that some countries have low or no personal income tax, but have pretty low/reasonable corporate profit tax (eg. Hong Kong), and some waive the latter for a period when starting a new company (eg. Singapore I believe). Moving arbitrary amounts of capital between countries to avoid profits accruing is often achieved using "IP licensing agreements" or similar. Personally I have three citizenships, plus bank accounts in fourth, fifth and sixth countries (shut down a seventh). Sometimes I get paid in Bitcoin, just to keep things interesting. A big issue can be the tax implications of share options, in which case you might conceivably even benefit from changing tax residency specifically to vest. Basically there's as much complexity as you can possibly imagine here.
Tourist visa: You're not working, really. It's a continuation of your established consulting commitments. You are on holiday. There's no law against that.