What is Tax Residence and Why Does it Matter?
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- เผยแพร่เมื่อ 17 ก.ค. 2024
- nomadcapitalist.com/2017/07/1...
It’s no longer enough to NOT be a taxpayer where you come from; now, you need to have a Tax ID and be liable for tax somewhere. However, you can still pay as little as $0 if structured correctly.
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As I explore laws and situations of countries more and more everyday, I understand that it is a reasonable approach to be tax resident in a low-tax country (not somewhere like Seychelles, Antigua, Mauritius but real country) and report that to all other countries. This is why countries like Georgia, Montenegro, Serbia, Macedonia, Malaysia, Cambodia, Vietnam are super important for nomads.
Good video. People definitely need to understand these topics if they wish to go nomad!
Congrats for your 100k sub!!
Good Video @nomadcapitalist on the what and why. Would be good to do a video on the where one can set up tax residency . Thks Andrew
To be on the safe side, get a certificate from the country of tax residence and that's concrete proof that you are a tax resident of that country. Of course, with this, you get access to dual taxation treaties.
Hi Andrew
Thank you so much for your content.
I want to ask you, how important you think are double tax treaties when it comes to choose a tax residency?
There are some tax residencies with really good conditions but few tax treaties.
What are your thoughts on this?
What's your take on Panama residence? You pay no taxes is you're not making money locally.
You may as well have been talking about me. Canadian citizen looking between bahamas and Cayman islands to move.
@@dimebagg1 cayman enterprise city is an absolute winner in my eyes. If your business qualifies it's easy to get a residency and a business that is exempt from most import laws. I wish they would do a video on different special economic zones around the world.
@@dimebagg1 I'd look for a lower tax jurisdiction with an amount of ammenities and services that are tolerable enough for you. Ie. Belize, panama, etc
Thank you very much, When I created my Stripe account to link it to my Shopify store I found this in my Stripe account:
''Your US tax residency form needs review
We couldn’t locate a valid US tax residency form for your business.''
What can I do? Please.
Feel free to email us at help@nomadcapitalist.com.
"you want to make sure you don't have it where you don't want it"
DTAAs?
of course unlike some fools I do understand that they don't work in a way "there is DTAA between these two countries so I can just choose where to pay taxes no matter what"
"tax residence does not mean that you have a residence permit"
but then, what about countries where it is written in law that all official residents are tax residents - like Turkey and half of Balkans? is there ways to skip their tax residency, except for DTAA?
Does russia follow the 183 tax code? No other rules?
does this 183 days in a year is consecutive days ?
💘
Light on information, stating obvious
Hi I lived in Australia 8 years ago, now I live in mexico. I listen to you and got worried with the new tax laws in Australia. I have both passports mexican and Australian. I have may wife here in Mexico and two children. After listening to you I think I need to give up my tax residency in Australia.