But wouldn't IR need to know WHERE I am a resident in that case? Where would I be a resident if I travel most of the time?
Buy a place in Gibraltar and spend at least 30 days a year there. You'll be considered a resident for all intents and purposes.
That's as far as I got with my initial enquiries. If you buy a nice place and have a net worth >1MM you can apply to be a HNWI (high net worth individual) with a ceiling of 10K to your tax liabilities. Make sure you spend 30 days a year there, keep it unoccupied for most of the rest of the time, don't work in Gibraltar and you're set. This is my understanding at any rate.
sooooo...now i got a problem; da cunt prodi has 'apparently' won da elections and he's plannin' to raise cap gains taxes from 12.5% to 20% [bloody commie]. now i have to seriously consider u suggestion: i live in london now'n'go up'n'down from italy to uk regulary. shall i buy a freakin' house here'n'keep me bank acct open? how for money transfers...wouldn't da 'finanza' be able to track 'em?
I'm no expert on taxes, just have a vested interest. You need to find yourself a good international tax accountant.
All of you non-USA citizens are very lucky. We have to pay taxes to the government wether we live in the USA or not.
If you are not a nth american resident.You buy a motorhome.Have a motosat dish installed.Spend summer in Canada.Winter in Mexico.In USA in between.Seems like none of those three countries can tax you,unless there is a rule about averaging more than ninety days over a certain period.Anyone know?
I wouldn't be so quick to extol the virtues of tax-exempt living outside the US. Canadians have to jump through some pretty big hoops to legally qualify for 'non resident' (read: no income tax) status. Not the least of which is disposing of all Canadian property, abandon the country (and family and friends) only to return for the occasional holiday (few weeks a year). Canadian tax zealots and a sympathetic judiciary have weakened the non-resident clause sufficiently to even question its usefulness -- non-resident status is no longer a quantifiable designation. Canadian courts collaborating with our IRS have declared sole discretionary authority over which non-residents will actually qualify for tax exempt treatment, and which will not --- even if the citizen has been living outside the country for 10 years!!! The CRA just comes back and says too bad, we consider you a resident even though you've been out of the country for 3, 6, 8 or whatever years. Pay up. After studying the issue at some length, there is a simple and effective way. The answer is out there. But it costs money. Not really justifiable without 1 mil in the bank.
Canadian courts collaborating with our IRS have declared sole discretionary authority over which non-residents will actually qualify for tax exempt treatment, and which will not --- even if the citizen has been living outside the country for 10 years!!! How quickly those bastards forget their history.Uncle Sam started out revolting against "no taxation without representation".