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Why is that optimal? I understand at least having a dual residency as a back up plan and that’s our plan with establishing residency in Costa Rica before retir
by scarface_74 2y ago
Why is that optimal?
I understand at least having a dual residency as a back up plan and that’s our plan with establishing residency in Costa Rica before retirement and keeping our by then paid off condo in the US.
- carlosjobim 2y agoIt's optimal because you get left the hell alone. Governments do not know what they citizens do if they are neither living in the country nor having their money in the country. Governments do not know what their residents do, if they are neither citizens nor have their money in the country. Governments do not care what foreigners do with their money in their country if they are neither citizens nor residents.
- scarface_74 2y agoCan you explain a real world scenario based on ease of applying for residence, tax situation, etc? I haven’t researched anything aside from the US && (Costa Rica || Panama) scenario. There are really no tax advantages or disadvantages that way.
- o1o1o1 2y agoA simple example would be someone who does not have US citizenship (or Eritrea) and is able to move their tax residency to a second country that has very low or no income tax (e.g. UAE). There are other countries (e.g. Cyprus) that do not require you to stay for 180 days or more to gain residency, so I think this is the kind of setup he is talking about. The last piece of the puzzle would be international bank accounts, which gets easier the more money you have (e.g. HSBC Expat, which requires 50k USD to set up).
- carlosjobim 2y agoIf you're thinking in these terms, then the advice isn't really for you. You are probably better served by staying where you are, paying the tributes you duly owe and obeying the commands of your government. The real world application of this advice is that you don't ask for permission, and involve governments as little as possible in your life. This of course means that your source of income has to be adapted to this, usually meaning having your own LLC.
- scarface_74 2y agoRight because the government doesn’t do anything for its citizens and no one should pay taxes anywhere. Unless you can provid all of the infrastructure for yourself and insure your property rights are secured from people just taking them. You realize you are going to have to “obey the laws” of whatever country you live in? The only way you don’t involve some government in your life is to either live in on a boat or to live off the land in the woods somewhere You know that LLC is also a legal construct you need a government to enforce. Do you plan to get a passport? Do you plan to be “stateless”? Plan on registering for the countries health care system?
- carlosjobim 2y agoDid you read the title of the thread?
- scarface_74 2y agoSo does the title of thread automagically mean there is some method to avoid being ruled by some government except living in the woods or the middle of the ocean?
- carlosjobim 2y agoOr on a beautiful beach surrounded by lovely people.
- scarface_74 2y agoThat beach is not under the jurisdiction of a government? Could I just run around naked without getting arrested?
- carlosjobim 2y agoYou will need to learn some different evasion techniques for that.