Tax-News.com: US House Passes Bill To Improve Health Savings Accounts

menderes said:I do not know where to move my family.Click to expand...
Where does your income comes from?

I mean will you be managing a company in the new place where you move or not?

 

menderes said:Unfortunately we decided to pass on Cyprus and Malta because they’re too isolated and passive for our lifestyle.Click to expand...Understood, life there is quite boring.
But with big tax savings (compared to other places) and low stay requirements maybe you could use that extra money to travel and spend time abroad, while maintaining the tax residency there.

 

scooterguy said:Andorra might suit you.Click to expand...I was just looking into Andorra today, being in continental Europe and within driving distance from much of Spain and France makes it an enticing option.

Now we just need to convince my big city American wife to move to a goofy country in the mountains

Marzio said:Where does your income comes from?

I mean will you be managing a company in the new place where you move or not?Click to expand...
1. Consulting (non-incorporated) - 100% US clients
2. Sale of digital products (non-incorporated) - Worldwide clientele

My current setup will probably not fly in most countries as very few have a strong "sole entrepreneur" legal and practical framework, so I will probably have to incorporate somewhere as well.

JimBeam said:Understood, life there is quite boring.
But with big tax savings (compared to other places) and low stay requirements maybe you could use that extra money to travel and spend time abroad, while maintaining the tax residency there.Click to expand...
I would have moved to Cyprus in a second, but I'm not the only one deciding unfortunately.

 

menderes said:Now we just need to convince my big city American wife to move to a goofy country in the mountains Click to expand...
There are three McDonald's and one Starbucks in the capital of Andorra. That should do it .

 

menderes said:1. Consulting (non-incorporated) - 100% US clients
2. Sale of digital products (non-incorporated) - Worldwide clientele

My current setup will probably not fly in most countries as very few have a strong "sole entrepreneur" legal and practical framework, so I will probably have to incorporate somewhere as well.Click to expand...
What about moving to San Marino?

I can already see your wife telling all her friends "i'm moving to Italy bitches"

 

Marzio said:What about moving to San Marino?

I can already see your wife telling all her friends "i'm moving to Italy bitches"

Click to expand...
^ This guy knows women!

Thanks! I will look into San Marino more seriously.

 

wellington said:The biggest growth region is monsoon region which includes East AfricaClick to expand...
That's interesting, is there any reason why do you believe this will be the case for East Africa specifically?

 

Marzio said:What about moving to San Marino?

I can already see your wife telling all her friends "i'm moving to Italy bitches"

Click to expand...
Actually this is better than Andorra.

More pleasant weather and you can be in Florence in a couple of hours. Being so close to one of the most beautiful cities in the world should certainly convince OP's wife.

If there's a need to incorporate in San Marino, it's not that bad either, as corporate tax is 17%.

Both Andorra and San Marino are pretty isolated in terms of international travel though. San Marino might be slightly better, but traveling abroad would almost always require a trip to a nearby city first.

 

scooterguy said:Actually this is better than Andorra.

More pleasant weather and you can be in Florence in a couple of hours. Being so close to one of the most beautiful cities in the world should certainly convince OP's wife.

If there's a need to incorporate in San Marino, it's not that bad either, as corporate tax is 17%.

Both Andorra and San Marino are pretty isolated in terms of international travel though. San Marino might be slightly better, but traveling abroad would almost always require a trip to a nearby city first.Click to expand...You can have 15% corp tax in Spain living in the big city on the sea side

 

vehzag said:You can have 15% corp tax in Spain living in the big city on the sea sideClick to expand...
And then you have to deal with the 47% personal income tax.

 

menderes said:And then you have to deal with the 47% personal income tax.Click to expand...I don’t have to deal with it. I pay 19-28 % on the investments I do the same as for dividends

 

vehzag said:I don’t have to deal with it. I pay 19-28 % on the investments I do the same as for dividendsClick to expand...
That is an option I have not considered. Pass a salary in the minimum threshold to maintain the residency conditions, and then get the rest as a dividend. Thanks!

 

scooterguy said:Both Andorra and San Marino are pretty isolated in terms of international travel though. San Marino might be slightly better, but traveling abroad would almost always require a trip to a nearby city first.Click to expand...There is a reason why San Marino has a visa waiver agreement with China for a very long time: they gain while not giving away anything. How can you travel from China to San Marino without touching Schengen?

 

vehzag said:You can have 15% corp tax in Spain living in the big city on the sea sideClick to expand...
The 15% is only for 2 years. After that you'll have to pay 25% corporate tax.

Dividends are on top of that. Capital gains tax is 19%-26%. Social security, etc. is relatively high as well.

Spain is a great place to live but you don't go there to save on taxes. You have to go there with the mindset that you'll spend a lot on taxes but you'll get your money worth (great roads, healthcare, free schools, decent air quality, etc.)

Whether you get your money worth or you can get the same things in return for free or cheaper somewhere else is a matter of personal preference.

I think Spain makes little sense if you're focusing on earning money, but can be a good place to retire or semi-retire.

 

I think it's quite simple. If you like Italy and want to save on taxes you choose San Marino, if you like Spain then Andorra should obviously be your choice

 

Marshal said:I think it's quite simple. If you like Italy and want to save on taxes you choose San Marino, if you like Spain then Andorra should obviously be your choice Click to expand...Yes, or Gibraltar.

 

San Marino doesn't have any international schools, so it's not ideal for expat families needing such options.
Andorra has a few international schools, but choices are limited, which could be a challenge if you need a specific curriculum or there's high demand.

 

Monet said:San Marino doesn't have any international schools, so it's not ideal for expat families needing such options.
Andorra has a few international schools, but choices are limited, which could be a challenge if you need a specific curriculum or there's high demand.Click to expand...
There's an IB school in Rimini (30 minutes away from San Marino), and a British school too.

Public schools in San Marino and Italy are pretty good though.

 

scooterguy said:The 15% is only for 2 years. After that you'll have to pay 25% corporate tax.

Dividends are on top of that. Capital gains tax is 19%-26%. Social security, etc. is relatively high as well.

Spain is a great place to live but you don't go there to save on taxes. You have to go there with the mindset that you'll spend a lot on taxes but you'll get your money worth (great roads, healthcare, free schools, decent air quality, etc.)

Whether you get your money worth or you can get the same things in return for free or cheaper somewhere else is a matter of personal preference.

I think Spain makes little sense if you're focusing on earning money, but can be a good place to retire or semi-retire.Click to expand...Exactly that’s how I consider Spain. I am ready to pay taxes here. Capital gains tax is 15-28 btw
And the corporate tax is 15 for the first 2 profitable years, afterwards it can be 23 if the turnover is less than 1 mln
If more - than yes it’s 25

 

Thailand just announced new visa policy starting from June 1st. 5 year visa sounds interesting, finally no visa runs?

https://www.bangkokpost.com/thailand/general/2800891/new-visa-promotions-retiree-insurance-reduced