Dual Citizenship

Discussion in 'Professional Trading' started by ShoeshineBoy, Oct 6, 2005.

  1. Crazy question: is there any way to get a dual citizenship in another country? And, if so, is there any way to use that to a tax advantage? (I'm a US citizen.)
  2. buy 500k property in the bahamas and get automatic citizenship.

    Helpful website: www.escapeartist.com
  3. But can that help you with US taxes?
  4. No, you have to give up your US citizenship to do that.
  5. Neodude


    Not true, you can have duel citizenship, I do. The problem is that if you are a US citizen you still have to pay US taxes in most cases. Duel citizenship is a gray area and depends on the treatise between the two countries, same with which taxes you pay.

    I believe the only way to avoid US taxes is to be a US national and only live in the US less then six months of the year.

  6. If you make a $200k term deposit in a Panamanian bank that will automatically qualifiey you for residency. I believe you have to leave it there for 2 years, so it generates a monthly income of $750 (or more). Once you have your residency you can stay as long as you like in the country, obtain drivers license, get loans from banks, start businesses, etc. A residency is similar to citizenship. Also, all foreign income obtained outside of the country whether it's interest on a savings account, profits from trading, pension income, etc is tax free. :)
  7. Are too lazy too Google it yourself? :confused:
  8. Pekelo


    Step by step guide for US traders how not to pay taxes:

    1. Marry a Swiss, Croatian or Hungarian woman. These countries have zero taxes on capital gains.

    2. The wife should open a trading account.

    3. She deposites your money and you start to trade.

    4. Hopefully you are making money. Pay taxes separately, so you pay tax on your income (which maybe zero ) in the US and she pays taxes (zero) on your trading wins in the above mentioned countries.

    5. Send me a check for this advice.... :)
  9. Residency; not citizenship ...
  10. Good idea; unless she forgets to give you the money ...
    #10     Oct 7, 2005