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Where to relocate to not pay capital gains tax and live cheap
- Thread starter Revoltec
- Start date
Use the search function of this forum. Has been discussed multiple times ....
Aside from that, GE is no longer "cheap".
The problem with countries like Cabo Verde, Georgia, Thailand is that they initially give you a visa or ask you to stay for 6 months. For Georgia, after the first year you have to apply for residency which actually isn't that easy to get in my situation. I would like to find a country that gives me residency immediately.
I have found a very interesting solution. Slovakia doesn't tax capital gains on shares that are held on a regulated exchange and if you hold for more than 1 year. It is also a cheap country and would be easy for me to get residency as I already have EU passport.
I have found a very interesting solution. Slovakia doesn't tax capital gains on shares that are held on a regulated exchange and if you hold for more than 1 year. It is also a cheap country and would be easy for me to get residency as I already have EU passport.
my info might not be precise or up-to-date (do your own research) but you're supposed pay health insurance (hidden tax) of 14% (if I remember correctly) even when you sell share in a company or real estate.
I believe this also applied to securities...
Of what I have understood, this is only for companies and not for taxation of individuals
Yeah I get that but my problem is actually not them but the Swedish tax agency. They wanna see at least 6 months of a permanent adress and residency, in order for me to not be subject to any more tax.
its ok then just rent a flat for $200 in Pattaya and live your life.
You Northern Euros never think outside the box lol
I said in my initial post that I would like to get the residency immediately so I could travel around and not be forced to be physically present the first 6 months inn the new country, which is something Sweden asks for and not Thailand. The residency would be much better than a some kind of visa in that sense.
I have been trying to get in touch about the 14% social and health contribution that was mentioned here earlier but the Slovakian tax agency told me they cannot answer this question as it is not a tax per definition. I have been trying to get the answer in other places but guess it is taking longer because of easter. Also, it would be interesting to see what are the penalties in practice if you do not pay it. Do they just refuse you to get access to the health care or is it much more harsh.
Th
The way to go in Paraguay is residency here and bank offshore, for personal you can use Dukascopy and Xapo and they send cards here, is ways to get a Wise card too if you pretend you live in Brazil a guy told me he does that. An US llc can give you access to more banking options.
If you choose to deal with the banks get ready to prove where is the money coming from anyways some people gets money in the country using crypto. If you use local bank tax is 10% no VAT if income is from abroad. If you money don't touch the banks here you just no pay tax.
Anyways I am sure is other options in Eastern Europe and South Asia. I just think Paraguay is the way to go if you are interested in low tax and travel.
The way to go in Paraguay is residency here and bank offshore, for personal you can use Dukascopy and Xapo and they send cards here, is ways to get a Wise card too if you pretend you live in Brazil a guy told me he does that. An US llc can give you access to more banking options.
If you choose to deal with the banks get ready to prove where is the money coming from anyways some people gets money in the country using crypto. If you use local bank tax is 10% no VAT if income is from abroad. If you money don't touch the banks here you just no pay tax.
Anyways I am sure is other options in Eastern Europe and South Asia. I just think Paraguay is the way to go if you are interested in low tax and travel.
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Another alternative: A Schengen country like Lithuania or Estonia (probably Latvia, too, and I'm sure there are others) where you can be resident without being tax resident. Heck, probably even Spain.
Rent a cheap apartment for the whole year. If you spend very little time there, you don't become tax resident, so you don't have to pay taxes. But you can show that you have an apartment rented there for the whole year, you get a resident ID, electricity bill etc.
Then you go travel.
Rent a cheap apartment for the whole year. If you spend very little time there, you don't become tax resident, so you don't have to pay taxes. But you can show that you have an apartment rented there for the whole year, you get a resident ID, electricity bill etc.
Then you go travel.
I will check it up. This might be the best advice I got so far. If you have any more information on Estonia handy, please send me the links privately or here.
There are no special links. Very strict countries like Sweden say that the moment you get official residency there (folkbokförd), you have to pay taxes.
But not all countries are that strict. Essentially you could rent an apartment in Estonia or Lithuania for the whole year, get residency, and as long as you don't spend 183+ days per year there and it's not the center of your life, and you don't get a job in that country, then they don't think you owe them any taxes. There are many countries like that. It's a bit of a grey area, but it should work.
But please double check this with a tax lawyer from whatever country you choose.
But not all countries are that strict. Essentially you could rent an apartment in Estonia or Lithuania for the whole year, get residency, and as long as you don't spend 183+ days per year there and it's not the center of your life, and you don't get a job in that country, then they don't think you owe them any taxes. There are many countries like that. It's a bit of a grey area, but it should work.
But please double check this with a tax lawyer from whatever country you choose.
Oh okey. I think that is not how it works. I think it had something to do with their e-residency solutions or something like that. But by renting for 6 months or gettin the residency card I would automatically become a resident there. In fact, seems like you become a resident just by having a permanent residence.
Yes, you become resident (the equivalent of folkbokförd in Sweden). But you don't automatically become tax resident (obegränsat skattskyldig) there, in contrast to Sweden. You'd have to spend quite a bit of time there/make it the center of your life. E-residency has nothing to do with residency (it's a misnomer), nor with taxes.
Since the countries don't have a bad reputation, Sweden will most likely just accept it if you tell them you live in Estonia/Lithuania/some similar country now.
You rent an apartment there, get your residency, but then you can travel around in Europe as you like. If the Estonian authorities ever ask you for taxes, you tell them: "Hey guys, look, I wasn't even in your country. I only rented the apartment as a vacation home. But ended up hardly using it, sorry." - "Oh, that's fine, no tax for you then, enjoy your life in the sun."
Obviously this will only work if you actually travel. If you spend 250 days per year in Spain, then you will become tax resident in Spain instead and have to pay taxes there.
Since the countries don't have a bad reputation, Sweden will most likely just accept it if you tell them you live in Estonia/Lithuania/some similar country now.
You rent an apartment there, get your residency, but then you can travel around in Europe as you like. If the Estonian authorities ever ask you for taxes, you tell them: "Hey guys, look, I wasn't even in your country. I only rented the apartment as a vacation home. But ended up hardly using it, sorry." - "Oh, that's fine, no tax for you then, enjoy your life in the sun."
Obviously this will only work if you actually travel. If you spend 250 days per year in Spain, then you will become tax resident in Spain instead and have to pay taxes there.
Can you send me a private message? Because Im only finding information that you become a tax resident if you get an adress there.
There was someone else on this forum who got a legal opinion on this from the Estonian tax authorities. Maybe you can find it through the search function.
You can find more information on the website of the Estonian tax authorities:
www.emta.ee
"On determining the place of residence, we proceed from the definition of a place of residence in § 14 of the General Part of the Civil Code Act, according to which the place of residence of a person is the place where he or she permanently or primarily lives."
You can rent an apartment in Estonia for the whole year, but if you never spend time there, then you don't "permanently or primarily" live there -> no tax.
You should be able to get this confirmed by the Estonian tax authorities if you send an official inquiry.
Lithuania has similar rules:
Again, "permanent" is not the same thing as "renting an apartment for the whole year". You can rent an apartment for the whole year (and registering your residency there) with the intention of using it for sporadic weekend trips to the country only.
You cannot do the same thing in Sweden, as registering your address there would immediately trigger tax residency.
But please don't just trust me, get this confirmed by a lawyer or ideally directly by the tax authorities in the respective country.
Also, what about Serbia? From what I've heard, no one in the Balkans actually pays taxes. There are laws on paper, but nobody gives two shits about them. You just declare some made up number (much lower than your actual eanings) and that's it. Could also be a good option.
I know a guy who moved to the Balkans (dual citizen like you) and he told me all his friends laugh at him for being honest in his tax returns. They think there's something wrong with him.
You can find more information on the website of the Estonian tax authorities:
Determining residency | Estonian Tax and Customs Board
The instructions for determining the residency of a natural person for tax purposes explains when is a natural person considered a resident for tax purposes, gives an overview of the circumstances of change of residency and the obligation to declare
www.emta.ee
You can rent an apartment in Estonia for the whole year, but if you never spend time there, then you don't "permanently or primarily" live there -> no tax.
You should be able to get this confirmed by the Estonian tax authorities if you send an official inquiry.
Lithuania has similar rules:
Lithuania - Individual - Residence
Detailed description of individual residence rules in Lithuania
taxsummaries.pwc.com
You cannot do the same thing in Sweden, as registering your address there would immediately trigger tax residency.
But please don't just trust me, get this confirmed by a lawyer or ideally directly by the tax authorities in the respective country.
Also, what about Serbia? From what I've heard, no one in the Balkans actually pays taxes. There are laws on paper, but nobody gives two shits about them. You just declare some made up number (much lower than your actual eanings) and that's it. Could also be a good option.
I know a guy who moved to the Balkans (dual citizen like you) and he told me all his friends laugh at him for being honest in his tax returns. They think there's something wrong with him.
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