Great, you've convinced me to give up my U.S. Citizenship. So what do I do now that I am a citizen of no country? Where do I go to live?
Where do I go to live? --------------------------------- IF you have some money 250-500 k$ Monaco .You can make one person company and pay no any tax ... Clima ,female's ,entertaiment are better as in USA Generaly Monaco is residency for Sport elita &
If you trade profitably with a longer than 12 month holding period- Austria! No tax on investment profits if held over 12 months- provided you hold less than 1% of the company. Cheap cost of living too
Are you saying I could go to Monaco, start a company with $500,000 and become a citizen? You need to be a citizen ,you would receive residency . That is lot of work with authorities of Monaco,attorney & But if you have not criminal record and oprimary objective no tax for your business activities and intressed only for tax oasis ,that is possible Please ask Monaco in internet ... author knew atleast one person ,which nave citizenchip of another countries as France ,but have realty in Paris ,Nizza & Cultur elite (opera) http://www.youtube.com/watch?v=-G8XUHaocxY
Highterm If you trade profitably with a longer than 12 month holding period- Austria! No tax on investment profits if held over 12 months- provided you hold less than 1% of the company. Cheap cost of living too ##################### 1. Austria have not quality of life as Monaco 2. Tax system exist in Austria and in Monaco ,but Monaco policy is to be tax oase ... some time before author asked best bank in Monaco ( For sport world champion &) about account minimum Was 250 k $ Very possibly exist no demand for this account and can work online direct with USA broker rent office ,regist one person company in which you are owner and emp. and pay no tax ... But for precise detail ask Monaco authority in internet ...
The main principal of Monaco's fiscal system is the total absence of direct taxation. ************************* There are two exceptions to this principal : - Companies earning more than 25% of their turnover outside of the Principality and companies whose activities consist of earning revenus from patents and literary or artistic property rights, are subject to a tax of 33.33 % on profits. - French nationals who are unable to prove that they resided in the Principality for 5 years before October 31, 1962. Apart from with France, the Principality has signed no other bilateral fiscal agreements. IndividualsGeneral view of Monaco, Monte-Carlo Persons residing in Monaco (except French nationals) do not pay tax on income, on betterment or on capital. ******************************* For French nationals, two distinct categories exist : - French nationals who can prove that they resided in Monaco at least 5 years before October 31, 1962 are subject to the same system as other nationalities. - Other French residents are subject to French income tax collected by the French administration. Assets located in Monaco are subject to the following inheritance tax rates : in direct line of descendance : 0% between brothers and sisters : 8% between uncles and nephews : 10% between relatives : 13% between non-relatives : 16% Businesses There is no direct tax on companies apart from the tax on profits mentioned in the previous cases. Fiscal stamps and registration duties Fiscal stamps must be obtained for all official civil and judicial acts. In addition, all documents which could be produced as evidence in a court of law must be stamped in order to be valid. Stamp costs are either a fixed fee or depend on the format of the document or the values involved in the acts. Registration duties are collected for the registration of real estate transfers or change of ownership. The most commonly applied rates are as follows : 1% for leases, subscription or transfer of shares in a company 6,5% for the sale of real estate 7,5% for the transfer of goodwill, clientele or real estate
Inb Monaco exist version of one person company -owner and emp in one person with no tax and investment of individual is not the taxed . But presice detail you must make research in internet ,ask authorities of Moanco ,disscuss with attorney Lot of paperwork ,but possible . ######################## http://www.monaco-consulate.com/business_opening.htm Opening a Business in Monaco The Steps | Entry & Residence | Buying Real Estate | Protection of Intellectual Property The Steps 1. To enter Monaco, all foreigners must have proof of identity (national identity card or passport). 2. Anyone planning to stay in Monaco for more than three months or establish residency must obtain a long-term visa (French consulates handle visa arrangements for the Principality), as well as a residence permit (carte de séjour) which is available from Monégasque police headquarters (Direction de la Sûreté Publique) upon arrival. 3. Anyone wishing to work in Monaco must also obtain a work permit (permis de travail). 4. To establish a company in Monaco you must present the following documents to the Economic Expansion Department (Direction de lâExpansion Economique): - Notarized statutes or private deeds which have been registered with the Tax Department (Direction des Services Fiscaux); - Registration forms detailing partnersâ civil status and a description of the companyâs registered office on Monégasque territory. 5. To establish an agency or administrative office of a foreign company on Monégasque territory, you must send to the Minister of State (Ministre dâEtat) an application which includes: - Two certified copies of the companyâs articles of association; - A certificate proving the companyâs registration in the country of origin; - A Board of Directorsâ directive to open an office in Monaco; - A copy of annual accounts for three preceding years; - A description of the premises where the office will be located; - Details of the appointment of a responsible representative in Monaco; - A report on the structure of the company: date of creation, main activities, countries of operation, personnel, etc. Information forms are obtainable from the Economic Expansion Department. Documents in a language other than French must be accompanied by a French translation. All applications for an administrative office in Monaco are subject to approval by the sovereign government of the Principality. 6. To create a commercial company in Monaco, you must obtain preliminary approval from the sovereign government to operate commercial, craft, industrial or service activities. Authorization from the Minister of State is obtained by submitting: - A formal request on stamped paper addressed to the Minister of State; - A certificate proving a clean police record issued within the last three months; - A description of the office premises; - Information about the applicantsâ civil status (birth, marriage, divorce, etc.); - Diplomas and references; - Completed information forms from the Economic Expansion Department. Such a business may be operated either by the proprietor or by a manager (for whom authorization must be obtained).
You guys kill me. If you've ever lived in a foreign country, you 'd realize how great this is. Why do you think we have so many people who don't speak English. They are running from nothing to something. I suggest you review the Bill Murray speech to the recruits in "Stripes". And btw, you're a little late to the 'hide the assets' party. I think UBS gave it up.