your wife can forget about social security money..SS is a giant ponzi scheme,where @ very beginning of it people,who contribute least-did receive all benefits and your wife,who contribute the most-not going to receive anything by the time she need it. btw-how she planing to get back her SS money anyway? what citizenship have to do wit hit? i'm glad that i don't have to pay SS\SE\ taxes..cause i never understand,why not us citizen have pay them anyway? they can dump you out of us at any time and you have no SS rights anyway,but you still have to contribute those taxes..
Switzerland has no minimum stay. Buy / rent a home in switzerland, go to local goverment, put your residency there, mediate your payable tax. where your secondary home(s) is(are), nobody cares about. (it cant be in your home country ) most rich people residing in London (about 200.000 in UK resident but not dom-status) or in Switzerland (5000 with lump sum tax) live some time there, some time in Spain, some time in USA, some time they travel, some time they stay in homecountry... the worldwide income is taxable in UK/switzerland
i forgot Gibraltar, its the place to be for daytraders. they have a maximum tax at about 25.000 Pounds, best infrastructure for traders in europe (except London) and you can live in the sunny Spain (10 min to go with car) lol
haha. so gibraltar is not sunny while spain is? just kidding - i know what you meant. gibraltar is a terrible place to live... thanks for your posts moarla. one thing to remember (for non-US people) is that as soon as you travel a lot, have a company set up in a smart way/place and live a low profile life then there is now way anybody is going to figure out where and how much you should pay in taxes. maybe one day all IRSs will be interconnected AND cooperating with each other - but not nowadays and many more years to come...
this is why all this idea make no sense to me.all those travel expences,extra expences for rent,food.. (dirt cheap in US,very good quality), away from family,no real medical coverage..nah..i'll skip this one..i use to have an idea to move to panama or something, but even if you make 200-300K-it's not worth it imo. 500K and beyond-yes
all i can say is that i feel sorry for you. some thoughts: i travel around the world with my family for years. same quality or better everywhere when you decide to pay for it. who gives a rats ass about travel expenses - they are lower than you would-be taxes anyway. medical coverage? hahahahaha. maybe you want social coverage too. on top of that you are always insured privately anyway... you meet interesting people - not only stupid rednecks and people obsessed with money. you are right that you need to have some minimal income - likely around $300k. but you are not right that it is hassle to set all up. in fact it is extremely easy - one just must not be lazy...
Yeah, sounds fun and rewarding to me. Even if I didn't save more from taxes than what I spent on traveling, the experiences could be great. I have a friend who worked with the U.S. embassy and was sent all over the world for decades. He has phenomenal experiences, stories, outlook on life, a mini-museum of international stuff, etc.
How beneficial/necessary is it to have a company if you are just trading a single account? Does it make it easier to avoid disputes on where taxes should be paid? & How come bank in another country? Diversification/Privacy purposes? Thanks everyone for the great info on this.