Cheap way to move residency to Hong kong or Singapore

Discussion in 'Taxes and Accounting' started by JKG77, Oct 15, 2018.

  1. JKG77


    It was discussed in many threads on the best (aka, zero or low tax) countries for traders. However for many people it's not even an easy task to move their residency (does NOT have to permanent residency) to those countries.

    Anybody aware of any relatively cheaper ways to move to Hong Kong or Singapore. I can get a "real" job of course, but that clearly would've prevent me from trading so lost the purpose of the moving..
  2. fan27


  3. JSOP


    Puerto Rico should amend their Act 22 to state that if your income is above certain level, you must pay certain amount of money as contribution to Puerto Rico so it won't be an option for them and put that mandatory 5-people employment requirement back.
    Last edited: Oct 15, 2018
  4. JKG77


    fan27 likes this.
  5. smallfil


    I have read more than a couple hedge fund managers have moved permanently, to Singapore. Your best bet would be to contact a tax attorney who does business in Singapore to find out what you need to be a permanent resident atleast. Singapore citizenship might take longer. If hedge fund managers are moving to Singapore, the business climate there must be very good for them!
  6. DaveV


    a) The contribution is only US $5,000 per year, and it is to a Puerto Rican charity, not to Puerto Rico itself. b) The 5-people employment requirement is, and has always been, for Act 20 (businesses moving to PR), not for Act 22 (individuals moving to PR).
  7. dealmaker


    You can move to just about any country in the world on a 6 month tourist visa if you have enough money in your bank account & no criminal history, then you leave for a day and re-enter.
    _eug_ and wrbtrader like this.
  8. JSOP


    That's WAY too little. It should be at least 5 figures. If you are "ultra rich" enough to move there to escape being taxed, you can afford paying 5 figures each year. For businesses, it should be even higher. And for businesses, it shouldn't be just 5-people employment requirement, it should be at least 100. For individuals, it should be 5.
  9. JSOP


    Singapore is no longer an ideal country to go to just for reducing taxes. The cost of living in Singapore is way too high and it completely offsets the savings that one gets from reduced taxes I find.
  10. wrbtrader


    Take a vacation to Hong Kong and those of the opposite sex. Take names, email address, social media connections.

    Stay in touch, develop an online relationship. Let the relationship get serious...document the relationship (photos, letters, vacations together and so on)...then get married. Get a tourist visa to stay extended period...most countries allow up to 6 months stay...test trading for a living during your tourist visa.

    Move to Hong Kong or Singapore...apply for residency via your relationship with their citizen.

    2 years max :D

    Last edited: Oct 15, 2018
    #10     Oct 15, 2018