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Best Caribbean or Central America location to retire? (Now with South America!)
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Best Caribbean or Central America location to retire? (Now with South America!)

  #261 (permalink)
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bluemele View Post
Denounce citizenship... Of course, then you can only come into the country for so many days a year. To some that is extreme, but I am considering it once the kids get through Uni.

My wife and I are considering this also. We are thinking Belize or Costa Rica, But if we move it will be with in a few years. we don't like the way we are loosing our freedoms in America. We will also change our Citizenship if we do this.

Thanks very much,
JCW I'd rather be
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  #262 (permalink)
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Exit list of"Tax hevens" for Costa Rica

March 7th, 2013 . Costa Rica will begin a new tax information sharing system for both companies and individuals based in the country. The information will be shared with the United States and scores of other countries including the United Kingdom, Germany, Spain and France......

The full story -->>
Costa Rica to exchange tax data with United States, scores of other countries in order to exit list of ?tax havens? - Inside Costa Rica | Inside Costa Rica … ax-havens/

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  #263 (permalink)
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bluemele View Post
Please remember that as an American Citizen you pay taxes wherever you go! That COULD BE on-top of the local taxes as well, but that is typically deducted from your overall tax hit from the FED's. Think of it more like a 'state' tax in that it is allowed for deduction but could make your combined taxes go up!

Texas is one of the better foreign countries for this! haha...

Yes, this is the case, Americans pay tax on offshore sourced income if they live outside the country. You will in most cases get a credit for foreign tax paid so you don't pay twice.

For those that qualify there is a foreign earned income exclusion of $97,600 (for the 2013 year) if you meet the requirements.

Foreign Earned Income Exclusion - Requirements

I'm not sure how the IRS would view trading income if you trade US domiciled instruments. It could be classed as "working in the US". It could be different if you are a plumber living in the the Bahamas doing plumbing work in the Bahamas as it is clear the income is sourced in the Bahamas

In any case it's essential to speak with a qualified US tax attorney prior to departure not an overseas based tax attorney.

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  #264 (permalink)
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With John Paulson (NY hedge-fund manager) in the news about moving to Puerto Rico, I decided to see what it was all about.

Here's a blurb from Bloomberg:

By moving to Puerto Rico, wealthy Americans can transform potential U.S. capital gains income taxed at up to 23.8 percent into untaxed Puerto Rican income. They must meet residency tests, including spending 183 days a year in Puerto Rico and having social and personal connections on the island.

Hard to say what other requirements they may have. And Paulson has stated that he is not relocating.

Thats a pretty attractive offer though if you want to live in the Caribbean in the winter months.

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  #265 (permalink)
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Big Mike View Post
I'm planning to retire to the Caribbean.

Since futures.io (formerly BMT) has a lot of people from all over, I thought I could ask input from you guys on the advantages/disadvantages of certain locations (specifically if you live there or near by you could give some feedback)

I'm definitely going back to Tokyo after retirement. Good healthcare, high life expectancy, good education system for the kids, a big city so you can do anything you're interested in, the kindest people and service, and an attention to detail in everything (food and technology especially). [edit]

Tokyo Roppongi Gigapixel

[edit]

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Last edited by artemiso; April 9th, 2013 at 03:22 AM.
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  #266 (permalink)
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Top 5 Countries for Day Traders to Live - JetSet Travel by Day Trading Emini Futures for Financial Freedom

I would add that Andorra is not that expensive especially if comparing to Monaco like they do, it's in line with Barcelona it is 200 km from and from the Med sea. Big bonus is to qualify as a tax resident you don't need to live 183 days like in most countries, just 60 AFAIK. Another location is Canary Islands, European Hawaii, no tax on capital gain, no VAT (tax free zone), eternal spring and nice sailing route to Caribbean. Malta is also and option, not tax free but just 10% tax and next to Sicily, nice climes.

I also lived for 2 years in Dominican Republic, and all that talk about being a very dangerous place is nonsense. You are in much higher danger in any large city in any western country.


Last edited by xelaar; April 26th, 2013 at 06:09 AM.
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  #267 (permalink)
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Guys, anyone considered to live aboard a decent yacht? Mobility, safety (of getting stuck in any country with rapidly deteriorating regime) and tax free, ability to live a bit in many countries around the globe..

Trade to live. Not live to trade.
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  #268 (permalink)
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Mike, Anguilla has all you look for, even more.
Also easy access through St-Maarten, wonderful beaches, very good restaurants, 4G network to work on the beach...
Some useful info here AnguillaIslands.com

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  #269 (permalink)
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Big Mike View Post
I know I'm hung up on Boquete but I like it

you and me both bro! not sure what boquete means in espanol, but in portuguese it means blowjob

as a gringo living in a foreign country for a year now i can truly say it was a blessing to grow up in the US. Life sure is a lot harder (and unnecessarily so) in lesser/non-developed countries.

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  #270 (permalink)
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xelaar View Post

I would add that Andorra is not that expensive especially if comparing to Monaco like they do, it's in line with Barcelona it is 200 km from and from the Med sea. Big bonus is to qualify as a tax resident you don't need to live 183 days like in most countries, just 60 AFAIK.

90 days indeed. No tax on capital gains. As a sole trader, you'd pay about 140 EUR taxes a year (60 for 1 car, 80 for a nice big rented flat) and that's it. Living standards are far from the hype of Monaco ! Atmosphere is closer to a village. Costs are cheaper than neighboring France, especially flat rentals since a lot of buildings are still empty from the crisis, food to some extent, insurances a bit. Lots of foreigners. You'll be introduced to traders easily as everyone knows everyone. 99% of territory is covered by fiber optic.

However now it's toughter to get in... you have to invest 13 times more than 1 year ago : 400k !
They indeed intended to meet Monaco like standards which appears a big joke. Actually they are already backing off and immigration laws are bound to change again in the coming months. The government reacts very quickly which is an advantage of being such a miniature country.
Anyway, right now I'd suggest that you run a small (internet) business parallel to trading and then residency is yours for 'free' (corporate gains will be taxed 2% if they come from oversea activity then no bond/financial/real estate investment required)

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