Forum Moderators: martinibuster
If so, what if any challenges have you faced?
Also offshore banking or funds.
This entire scene has completely altered in the past few years therefore you need to get some very professional advice.
As a generalisation most "western" countries, this definitely includes the UK and USA, consider any worldwide earnings as taxable if you are considered ordinarily resident and domiciled there. This means living in that country for 183 days or more.
It's a very complex subject, there is a UK government page here and this is very similar to most other countries rules:
[hmrc.gov.uk...]
It is not a problem creating an offshore company or banking offshore, just be extremely careful how one does it without falling foul of one's country's laws.
The US government takes a very hard stance on this, you have been warned!
Living in another country? There is a reason some countries have lower tax rates. The infrastructure is usually less reliable (Think about telephone service, roads, water, electricity, INTERNET SERVICE, etc.)
How about government STABILITY? Are the socialists bound to take over the government in a given country, then play Robin Hood with your assets? You could wind up penniless then.
I moved from New Jersey USA to Florida USA which was a great move for me, tax-wise. New Jersey has opressive state income taxes, while Florida has practically no taxes on income. After exploring other options, I decided it would be best to stay in the 'States. Just choose carefully which state to live in.
From Procter and Gamble and HP to small 5 employee companies...
Intel also moved to CR more than 12 years ago...
Technology is good enough...
Country is not so cheap like it used to be..
In summary, I think there are many many options...
I did an offshore inverstor conference last year (av tech) and they were pushing Lichtenstein.
Going from Phoenix to Dubai is no great win, weather wise.
Going from Phoenix to Dubai is no great win, weather wise.
That's one of the problems with relocating or setting-up "something" elsewhere.
The extremely hot weather here recently in the UK makes one realise that life is not just about saving money but also enjoying it where one feels the most comfortable apart from trying to reasonably easily source all the web master's demands.
I've been wrestling with this conundrum for a while, I speak several European languages and quite easily understand several more therefore that particular problem is not an issue for me however I still cannot decide.
Do I want to live on an island?
Do I want to live where there can be extreme weather conditions?
Do I want to live long haul flights from current friends and families?
Do I want to re-locate family, pets, business and the kitchen sink?
Do I want to be able to qualify for my country's pension scheme no matter how mediocre?
Do I want to keep making longer and longer lists of advantages and disadvantages?
Do I want to just keep repeating this scenario when I am bored or had to pay a tax bill?
So many questions, so many possible answers.
One thing I do know is that I have to make a resolution soon to protect my financial interests.
Come on AdSensers, let's create an island somewhere called AdSensers Island, A.I. for short, that should be applicable to most of us:-)
Then we could argue face to face...oh that would be fun!
Yeah and the last one that remains after all are "booted" get it all.
Yeah, I was going to suggest that. Acquire an island (with a decent weather pattern) and we could all buy into it. Build our own pub where we could sit and with our GoogbucksTM, our own bank and investment firm.
Speaking of arguments check this idiot out
[webmasterworld.com...]
[edited by: Khensu at 9:53 pm (utc) on Aug. 12, 2006]
I can just hear Hervé Villechaize shouting:
"The plane, the plane!" :)
I can just hear Hervé Villechaize shouting:
"The plane, the plane!" :)'
On Adsense Island, I imagine Hervé Villechaize shouting:
"The Google update, the Google update!
It doesn't matter where you are, you always need more than one source of income..
Living in another country? There is a reason some countries have lower tax rates. The infrastructure is usually less reliable (Think about telephone service, roads, water, electricity, INTERNET SERVICE, etc.)How about government STABILITY? Are the socialists bound to take over the government in a given country, then play Robin Hood with your assets? You could wind up penniless then.
Perhaps you noticed that at the other end of the big wet places called the oceans, for the past few thousand years some countries also have developed technology, stability, culture, wealth, etcetera.
Ok, I guess tax rates in for example Europe are a bit high, but Greece and Italy had floor heating and sewer systems a couple of thousand years before white men set foot in the USA. We also have some decent weather, no guns on the streets and some social security in case your Adsense earnings are lower than anticipated. While you are here you might want to enjoy some works of art from local folks like Da Vinci, Van Gogh, Rembrandt or Picasso;-)
If you make enough cash with Adsense, I think tax should not be the issue. Just settle in what you think is the most beautiful place on earth...
Ok somewhere without natural disasters, hurricanes etc.
I live on an Island in the Caribbean that has no hurricanes, earthquakes, tornadoes or anything else for that matter. It has a desert climate with temperatures that range from 78ºF to 86ºF all year round. We get over 93% sunny days.
In addition I have DSL service, 2 phone lines and multiple cel phones. Taxes are low if at all.
Negatives include a socialist government that is getting stronger by the day and many basic services that don't work all that well.
On the other hand the beaches are great, gas is 15¢ a US gal. & beer is just 28¢ a can.
i am interested for Australia.. if tax and other things favour me.
Perhaps you noticed that at the other end of the big wet places called the oceans, for the past few thousand years some countries also have developed technology, stability, culture, wealth, etcetera.
Ok, I guess tax rates in for example Europe are a bit high, but Greece and Italy had floor heating and sewer systems a couple of thousand years before white men set foot in the USA. We also have some decent weather, no guns on the streets and some social security in case your Adsense earnings are lower than anticipated. While you are here you might want to enjoy some works of art from local folks like Da Vinci, Van Gogh, Rembrandt or Picasso;-)
I know the world has gone insane when the best rapper is a white guy, the best golfer is a black guy, the tallest player in the NBA is Chinese, the Germans don't want to go to war, and the French accuse the Americans of arrogance!
Ok, I guess tax rates in for example Europe are a bit high...
So what is the point of your post in this thread? Just to be condescending to an American?
[edited by: gamiziuk at 4:24 pm (utc) on Aug. 13, 2006]
I live on an Island in the Caribbean that has no hurricanes...
And where might that be? The whole Caribbean is at risk during hurricane season?
What about Australia?
Great country and people however entry qualification for many can be a problem.
Taxation levels are I believe still lower than Europe but higher than the US. The cost of living is definitely lower than most of Europe.
I nearly moved there 10 years ago on a business Visa which was surprisingly easy to obtain.
And where might that be? The whole Caribbean is at risk during hurricane season?
Aruba maybe? Or some Venezuelan island? (would explain the low gas prices/socialist government statements)
The southern-most islands in the Caribbean are not in the path of hurricanes. A pretty good benefit, I'd say!
So what is the point of your post in this thread? Just to be condescending to an American?
Not at all, and I apologize if I established that impression.
However, I was a bit amused by your worries concerning other countries than the US. I always thought my country (Holland) was really the best place to live in the world. BTW, some international surveys actually display that as a result. But I have seen so many other countries with excellent facilities but with taxes at a same rate or even much lower than in my country that I am not so sure about these things anymore. The point is also that within many countries, certain regions can be a pain in the behind (climate, regional taxes, security, etcetera) but other regions in the same country can be top of the bill. A good example is Thailand. Still seen by some as a third world area, but settle in the right region and you will live like a king!
Anyway, my point was to say that quality of life seems more important to me than the difference between being taxed 20 or 30 percent. Especially when you make large sums of money.
I know the world has gone insane when the best rapper is a white guy, the best golfer is a black guy, the tallest player in the NBA is Chinese, the Germans don't want to go to war, and the French accuse the Americans of arrogance!
I really liked that one! Don't forget the Tour de France, won by an American for the past 8 years!
The best advice that I got was that you want to live in one country chosen, become a citezen of another basd on the best visa availability for travel, incorporate in another where you don't actually conduct a physical business, bank in at least 3 additional countries, and invest in the biggest tax haven country of them all, the United States.
That's right, if you are not a United States citizen, the tax treaties are such that there is a big tax break for investing in the United States.
Doing everything right can be expensive and worth it. Doing things wrong and you will find yourself with several significant tax bills from multiple jurisictions.
Just don't think it is as easy as "moving to an island country".
The whole Caribbean is at risk during hurricane season?
Not the Island of Margarita (Margarita Island in English or Isla Margarita in Spanish), just north of the Venezuelan coast.
I have lived there almost 20 years and in all that time we only had one tropical storm that past over in about an hour with top winds around 65 miles an hour. Lots of others pass by to the north but only send us a little rain.
-I'm a real nice guy!
