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How do people get paid under these scenarios? What is your residency status and where do you pay tax?
by wantsanagent 5y ago
How do people get paid under these scenarios? What is your residency status and where do you pay tax?
- jokethrowaway 5y agoYou may want to setup a company to simplify things and have a stable entity in a single jurisdiction. In terms of personal taxes, generally wherever you last spent 6+ months in a fiscal year last. more than half a fiscal year somewhere you are deemed resident there. If you haven't spent 6+ months somewhere you're still resident in the country you were resident last year. Still, I know some nomads who just don't pay taxes and have some third world country as their last residence: they just hope they won't be bothered given their situation is hard to investigate. If you're US then you also pay US taxes on top (unless you just ditch your citizenship). Things may get more complicated based on having property / a family somewhere and laws / exceptions in some specific countries.
- c_o_n_v_e_x 5y agoI'm an American and have been in SE Asia for >10 years. A lot of the nomads I knew in Bali flew under the radar. The Indonesian government started cracking down since covid. Owning a foreign corporation (form 5471) and having foreign bank accounts (FATCA filings) really increases the burden of reporting.