Living on a boat and avoiding taxes

Discussion in 'Taxes and Accounting' started by Fishbird, Aug 8, 2005.

  1. Fishbird



    Here in Europe taxes are stopping me from reaching financial freedom.
    The more i make, the higher the taxes are pushed exponentially.
    Moving to Switzerland is not an option anymore because renting/buying a house there costs as much as renting/buying 3 in EU.
    All those tax-free countries are drowning in money and consequently prices are up.
    Too far for my still small but profitable account.

    While looking for other solutions to this, i came across the idea of buying a boat or yacht and then telling the government that i dont live in his country but on the water in variing countries.

    Any captain here who can tell how this is handeled?
    I think it only applies if you live on the high sea but maybe this is a forgotten way to save taxes.

    CSEtrader and iprome like this.
  2. Croatia : no capital gain taxes, and very low cost...
  3. KevinK

    KevinK Guest

    so if i trade in croatia i pay no cap gains on american stock market gains?
  4. No, you shouldn't. I haven't tried it personally, but it seems so.

    By the way, I'm swiss and can tell you that you 3x evaluation is a little biased. If you want to be in Geneva or Zurich, it is perhaps the case, otherwise, prices aren't that high especially with the high (and denied by governments) inflation in EU countries and prices going down in Switzerland.
    CSEtrader likes this.
  5. just21


    Andorra has 0% tax. Do a search on this site for the Andorra thread.
  6. so if i trade in croatia i pay no cap gains on american stock market gains?

    depends... if your a US citizen you have to renounce your citizenship... then become a Croatian citizen and then you can trade US securities... but not US tax.


    The US is the only nation... to my knowledge that requires you to pay income tax on money NOT EARNED in the US. There are some, very little exceptions.


    Fishbird... you think you have it bad...

    Try being in a 30% range over all for FEDERAL
    8% for state
    2% for local
    and then ANOTHER 8% for Sales tax!

    so you see where we get the money to go fight 15 wars all at once!:mad:
    CSEtrader and johnnyrock like this.
  7. gnome


    Same is true in America for most of us. Unfortunately, nearly all governments around the world work that way.

    There was a time in America when government was "Of the people, by the people, and for the people"....

    Now it's ALL ABOUT THE GUMMINT.... at the expense of the people.
  8. You guys think a 35-40% marginal tax burden on earned income is high? Compared to Europe? What a joke.

    CSEtrader likes this.
  9. 40% of your income going to the state ? How horrible !

    Why work then ?
  10. bronks


    Just throwing this out there. Is it possible to belong to no country at all?
    #10     Aug 8, 2005