New Antigua tax residency? Just 30 days & $20k flat !?

[sandigoodcontact]

Looking for real world feedback...

Antigua tax residency requires only 30 days per year on island for $20k flat tax. Antigua looks like best option on paper, but not much chatter about it. Am I missing any downsides?

Overall, seems best deal for anyone with income > $500k and wanting to minimize time on island, comparing to cyprus/gibraltar/anguilla/etc.

More info (I'm not affiliated):
https://antiguabarbuda.com/dario-item-tax-residency-program/

 

[Martin Everson]

Why would you want to do this over and above obtaining their normal digital nomad visa?

 

[lostguy]

I don't get it, sorry?

 

[JohnnyDoe]

Why would you want to do this over and above obtaining their normal digital nomad visa?

do you get a TIN with the digital nomad visa?

More info (I'm not affiliated):
https://antiguabarbuda.com/dario-item-tax-residency-program/

Is there any official source?

from what I read around, it doesn't seem at all a new program. Some say it has been introduced in 1995.

 

[Dandyline]

Looking for real world feedback...

Antigua tax residency requires only 30 days per year on island for $20k flat tax. Antigua looks like best option on paper, but not much chatter about it. Am I missing any downsides?

Overall, seems best deal for anyone with income > $500k and wanting to minimize time on island, comparing to cyprus/gibraltar/anguilla/etc.

More info (I'm not affiliated):
https://antiguabarbuda.com/dario-item-tax-residency-program/

UAE requires 2-3 days and $0 tax.

 

[Marzio]

UAE requires 2-3 days and $0 tax.

Yes but you have to stay 183+ days

 

[Dandyline]

Yes but you have to stay 183+ days

No, just 1 day every 6 months. If you want a tax residency certificate, maybe 2-3 months, 1 time.

 

[Martin Everson]

do you get a TIN with the digital nomad visa?

Do you need a TIN you should be asking. What do you need one for? I don't get this obsession with TIN's. You don't need one for CRS reporting purposes as its not a CRS mandatory requirement (I discussed in detail in another thread). You also don't need one for residency purposes either.

For education purposes you can find out below each countries domestic rules on TIN's. Many countries do not even issue TIN's and some you use your ID card number instead.

https://www.oecd.org/tax/automatic-...on-and-assistance/tax-identification-numbers/

 

[sandigoodcontact]

Why would you want to do this over and above obtaining their normal digital nomad visa?

Good question. I imagine the normal digital nomad visa would require a more typical physical presence (183+ days?) to qualify for tax residency, compared to the 30 day regime.

No, just 1 day every 6 months. If you want a tax residency certificate, maybe 2-3 months, 1 time.

This thread is helping me see that the UAE is a popular choice for personal/corp tax residency, but since they are getting less friendly (new 2023 corp tax etc), where's the next best option?

 

[Marzio]

No, just 1 day every 6 months. If you want a tax residency certificate, maybe 2-3 months, 1 time.

R u sure? @Fred can you comment on that?

 

[Linski]

Do you need a TIN you should be asking. What do you need one for? I don't get this obsession with TIN's. You don't need one for CRS reporting purposes as its not a CRS mandatory requirement (I discussed in detail in another thread). You also don't need one for residency purposes either.

For education purposes you can find out below each countries domestic rules on TIN's. Many countries do not even issue TIN's and some you use your ID card number instead.

https://www.oecd.org/tax/automatic-...on-and-assistance/tax-identification-numbers/

Hi, I'd like to read the thread about your detail regarding TIN's and CRS reporting? TIA

 

[Martin Everson]

Hi, I'd like to read the thread about your detail regarding TIN's and CRS reporting? TIA

Sure read below thread fully.

https://www.offshorecorptalk.com/threads/do-prepaid-cards-fall-under-the-crs.29320/post-131436
You can see on official OECD website also below for each country to see what is required in relation to TIN's.

https://www.oecd.org/tax/automatic-...on-and-assistance/tax-identification-numbers/

 

[zzzzzz]

Do you need a TIN you should be asking. What do you need one for? I don't get this obsession with TIN's. You don't need one for CRS reporting purposes as its not a CRS mandatory requirement (I discussed in detail in another thread). You also don't need one for residency purposes either.

For education purposes you can find out below each countries domestic rules on TIN's. Many countries do not even issue TIN's and some you use your ID card number instead.

https://www.oecd.org/tax/automatic-...on-and-assistance/tax-identification-numbers/

FI always ask for TIN, and if you don't have one you should explain why. If country issues TIN, it's better to have one, just to please the bank and less questions asked.