Zero income tax places - best choice for game / quality of life

Here is a list of countries and cities that from my research have either territorial tax system or no income tax at all. Trying to find the best mix of cost of living, quality of life and girls.

Taiwan Kaohsiung
Taiwan Taichung
Taiwan Taipei
Gibraltar Gibraltar
Bolivia La Paz
Syria Damascus
Syria Aleppo
Anguilla The Valley
Iran Tehran
Macau Macau
Honduras Tegucigalpa
Honduras San Pedro Sula
Costa Rica San Jose
Qatar Doha
Lebanon Beirut
Guatemala Guatemala City
Seychelles Victoria
Angola Luanda
Georgia Tbilisi
Panama Panama City
Singapore Singapore
Malaysia Kuala Lumpur
Hong Kong Hong Kong
Nicaragua Managua
Paraguay Asuncion
Cayman Islands George Town
Turks and Caicos Islands Cockburn Town
Turks and Caicos Islands Providenciales
UAE Abu Dhabi
UAE Dubai
British Virgin Islands Road town
Kuwait Kuwait City
Bahamas Nassau
Bahrain Manama
Bermuda Hamilton
Oman Muscat
Vanuatu Port Vila
Saint Kitts and Nevis Basseterre
Monaco Monaco

I should probably filter out the crazy expensive places but will leave the list intact for others.

I have my eye on Panama(would love to live in a skyscraper with a view of the ocean) but reports here are a bit discouraging.

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I'll only comment on places I have been - you should narrow down your list and visit these places. Online info isn't very reliable when researching this topic. I'm just pointing you in a direction, check everything in person.

(06-21-2018 09:56 PM)Hoo Wrote:  Here is a list of countries and cities that from my research have either territorial tax system or no income tax at all. Trying to find the best mix of cost of living, quality of life and girls.

Taiwan Kaohsiung
Taiwan Taichung
Taiwan Taipei
Gibraltar Gibraltar
good place, easy to open company, spain is 15 mins away and full of women
Bolivia La Paz
hellhole
Syria Damascus
Syria Aleppo
Anguilla The Valley
Iran Tehran
Macau Macau
Honduras Tegucigalpa
Honduras San Pedro Sula
absolute hellhole on earth, do not trust any info that it is low tax

Costa Rica San Jose
expensive full of tourists and expats no community, people like ships passing in the night
Qatar Doha
expensive to comply
Lebanon Beirut
Guatemala Guatemala City
nice center city, do not trust the tax regime. dangerous outside protected wealthy areas
Seychelles Victoria
Angola Luanda
Georgia Tbilisi
Panama Panama City
Could be a good choice, growing, very international, moderate cost, shit hot weather, totally full of women but stick with office professionals, etc in the center city. Low labor cost so make sure you are self employed and or the employer
Singapore Singapore
great but extreme high cost of living
Malaysia Kuala Lumpur
superb lifestyle, moderate cost, every modern convenience, you just have to see it to see if you like it
Hong Kong Hong Kong
Nicaragua Managua
absolute hellhole on earth like going back to 1400 but with cell phones and broken down cars.
Paraguay Asuncion
nice town on the surface, many layers, very isolated, a 10 lb city in a 5 lb bag, if you like steak and want to hide from the world this is for you
Cayman Islands George Town
Turks and Caicos Islands Cockburn Town
Turks and Caicos Islands Providenciales
UAE Abu Dhabi
UAE Dubai
expensive to comply, moderate to high cost to live well, most employees are living a fairly shitty life just to send money home, extreme numbers of low end single women there for jobs from phils, kenya, etc. extreme lack of men for these girls but they arent keepers
British Virgin Islands Road town
Kuwait Kuwait City
Bahamas Nassau
dangerous, not really good for living, small town life if you arent a tourist.
Bahrain Manama
Bermuda Hamilton
Oman Muscat
secret paradise, lovely place, no crime, culture that makes a european city jealous, but you must import your own woman.
Vanuatu Port Vila
Saint Kitts and Nevis Basseterre
Monaco Monaco

You left out Puerto Rico (if you are able to live in the US Pr can be nearly tax free but its super complicated and expensive to comply)

I should probably filter out the crazy expensive places but will leave the list intact for others.

I have my eye on Panama(would love to live in a skyscraper with a view of the ocean) but reports here are a bit discouraging.

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OP, are you in the position to explore any number of these locations yourself. Since every place is a compromise on some level (for example, Singapore is awesome in many ways, but expensive), where people ultimately would like to settle comes down largely to personal preference.

I've been to many of the places on your list, but I feel like commenting on anyone of them wouldn't really do the location justice. You really need to see it for yourself.

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Paying tax is for soyboys

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@Off The Reservation this was gold, thanks. Probably saved me at least a couple of weeks of travel.

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The list of homicide rates is a good place to trim the fat.

I am not keen on what I've read on The Caribbean or South America. The British Virgin Islands is the exception to that.

If I had the money I would go for Hong Kong as it's a country that has everything. Only issue is you really need $1m for an apartment. But they have 0% tax on offshore income; and the taxes are the lowest of any real country by some margin. UK Tax burden is about 3X; Finland about 4X. I don't know what the local girls situation is but there are loads of Pino-pinos and Indonesians there.

Beyond that if you are looking for people to employ I would go for setting up in low cost EE as a service company and have your profits HQ set up elsewhere. Those countries don't have the tools to know what's going on with their domestic setup, never mind what assets you may have elsewhere. I think the best it probably Serbia. The average wage is $400 pm and high unemployment; so although there is not much talent overall, there is some knocking about.

I was thinking Russia, but now here I've discovered the wages are quite a bit higher and that's with a giant slide in the ruble against the dollar.

The lowest wages in Europe are in Ukraine and Moldova. Serbia, Bosnia, Romania, Macedonia and Bulgaria are not far behind.

(06-22-2018 10:11 AM)Off The Reservation Wrote:  You left out Puerto Rico (if you are able to live in the US Pr can be nearly tax free but its super complicated and expensive to comply)

Another option for US citizens are The Northern Mariana Islands. Low tax and beautiful. Takes you off the IRS hit list.



I believe the other US dependencies like Micronesia has deals too.

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Well, your list does have Aleppo Syria. I hear that's lovely this time of year.

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Some of those on the list are definitely not full tax havens. I tried avoiding taxes like a decade ago. Incorporated in British virgin islands, banking in Hong Kong and residency in in Panama city. Panama was too gross and expensive and I bailed on the plan. Much happier enjoying the lower cost of living in Medellin vs paying less taxes in some shit hole.

Before you take action on this you should be sure its actually worth it for you. Like you have several years already of high income where you are paying 100k+ taxes not just one year. and that you will be dedicated to business for at least a few years in the future not just fucking around having your income dwindle from neglect with the excitement of a new life.

You also must be ready to sever all ties of your old home and actually live the majority of the time at the new place. like feet on the ground. So be warry of islands as things can get boring real quick.

Havnt been to all the places on the list but Hong kong stands out as the best if you have the capital to deal with the crazy real estate prices. Singapore is ok if you are super straight edge, Panama might still be the most realistic choice of not actually paying taxes and having a life

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Beirut does have income tax. Not sure whether you are referring to something else. Everyone under reports their earnings though but still

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(06-22-2018 12:39 PM)Dulceácido Wrote:  Well, your list does have Aleppo Syria. I hear that's lovely this time of year.

Are you trying to tell me that the Syrian Ministry of Tourism is being less than forthcoming in their promotional materials? My timeshare is worthless. I am outraged. Who do I sue?

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(06-22-2018 01:01 PM)Jetset Wrote:  

(06-22-2018 12:39 PM)Dulceácido Wrote:  Well, your list does have Aleppo Syria. I hear that's lovely this time of year.

Are you trying to tell me that the Syrian Ministry of Tourism is being less than forthcoming in their promotional materials? My timeshare is worthless. I am outraged. Who do I sue?

That list was extensive and a lot of the places are appalling. Fucking Aleppo? GTFO. Pretty sure ISIS is gonna tax the shit out of you.

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+1 for Singapore

Its clean, modern, efficient, likeable city. Not that expensive if you live sensible, food is $2 a dinner.

There is plenty of women from around the world.

Its hot however.

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You are doing yourself a real disservice by limiting yourself only to no-tax countries. You should also consider low-tax countries. There are a number of European countries with tax rates of between 5%-15%. Even if you pay a 5%-15% tax, they are still cheaper than living in Hong Kong or Singapore.

http://nomadcapitalist.com/2017/07/26/lo...ng-europe/

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Thailand has a territorial tax regime so you don't need to pay income tax on online income or other income you make outside Thailand.

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(06-22-2018 10:25 PM)Tail Gunner Wrote:  You are doing yourself a real disservice by limiting yourself only to no-tax countries. You should also consider low-tax countries. There are a number of European countries with tax rates of between 5%-15%. Even if you pay a 5%-15% tax, they are still cheaper than living in Hong Kong or Singapore.

http://nomadcapitalist.com/2017/07/26/lo...ng-europe/

I tend to agree with this.. taking an absolute position very much limits one's options. 10-15% is not an unreasonable amount to pay in the grand scheme, and there are other taxes and costs to consider - general cost of living and real estate, VAT, road taxes, etc. In addition, some countries with low personal income tax rates lack controlled-foreign-company rules, so profits can be accumulated offshore without tax - only income that is remitted or distributed to the owner is taxed. In that situation, one who spends half of what he earns effectively halves his income tax rate.

However, some do have their reasons... privacy is a big one. Other times reporting requirements are a burden on doing business.

Another option may be to live in two countries in order to avoid being considered a tax resident in either. Most of the OECD member states have complicated domicile and residency rules, but many others follow a the more simple '183 days per year in country'. Splitting one's time between two countries plus a couple of weeks of travel each year may be enough to avoid tax residency entirely, even in countries with relatively high income tax rates.

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Can mods please edit my original post and delete Syrian countries? I was pasting from a couple of resources and made a mistake, couldn't edit after some time passed. Really no reason for those to be there.

And a question: Was somebody able to get official tax residency in a country like Panama or Malaysia staying more than 183 days on a tourist visa? -or exempt entry? I know there are options to get legit work visa but they are either fairly expensive or complicated.

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No country takes you off the IRS hit list if you're a US citizen, what is this fantasyland? Be serious.

You can lie on your taxes but hell just live in South Beach if you want to do that and get all the hot Latinas, touristas, and college girls.

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(06-24-2018 12:44 PM)DonnyGately Wrote:  No country takes you off the IRS hit list if you're a US citizen, what is this fantasyland? Be serious.

You can lie on your taxes but hell just live in South Beach if you want to do that and get all the hot Latinas, touristas, and college girls.

If you are an American living offshore who earns less than the Foreign Earned Income Exclusion for 2018 ($104,100), then living as a resident in a no income tax country means that you pay no income tax. The fact that you do not know such basic information makes you the one living in a fantasy land -- and not competent to post in this thread. If you want respect, then first show respect to others.

https://www.irs.gov/individuals/internat...-exclusion

https://www.liveandinvestoverseas.com/ta...ie-basics/

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(06-24-2018 12:44 PM)DonnyGately Wrote:  No country takes you off the IRS hit list if you're a US citizen, what is this fantasyland? Be serious.

Besides what Tail Gunner mentioned, there is also Puerto Rico with a whopping 4% tax.

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(06-24-2018 04:18 PM)worldwidetraveler Wrote:  

(06-24-2018 12:44 PM)DonnyGately Wrote:  No country takes you off the IRS hit list if you're a US citizen, what is this fantasyland? Be serious.

Besides what Tail Gunner mentioned, there is also Puerto Rico with a whopping 4% tax.

That is worth mentioning, because if you own the right type of business you can almost eliminate your U.S. tax liability by moving your business to Puerto Rico. Not only that, but if you are a non-U.S. citizen Puerto Rico (aside from the U.S. itself) is now one of the best places to stash your money from your government's prying eyes.

http://www.internationalinvestment.net/p...tax-haven/

http://www.internationalinvestment.net/r...us-report/

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ya i don't know why panama gets alot of bad hype I want to visit but it seems this forum kills it lol.. I thought the same international city beaches close by and saw good nightlife there...

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(06-24-2018 07:00 PM)FLGuy1988 Wrote:  ya i don't know why panama gets alot of bad hype I want to visit but it seems this forum kills it lol.. I thought the same international city beaches close by and saw good nightlife there...

Panama City is hot, humid, incredibly noisy, and expensive. I can vouch for the fact that it is just as expensive as more expensive areas of the U.S. (although not nearly as expensive as NYC or San Francisco). The best looking women are Venezuelan transplants or the Colombian hookers. Other areas of the country, however, are far less expensive and the mountains are cool.

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(06-24-2018 12:44 PM)DonnyGately Wrote:  No country takes you off the IRS hit list if you're a US citizen.

Bona fide residents of Puerto Rico, U.S. Virgin Islands, Guam, American Samoa, and The Commonwealth of the Northern Mariana Islands do not have to file or pay taxes to the IRS. They pay to the authority in the local jurisdiction.

It seems Puerto Rico is the best for tax arrangements though.

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I'm considering going to college now and I realized the tax benefit it would actually have. Being a international student in the states is basically the only way to be able to stay up to 5 years in the states and be considered a non-resident alien for tax purposes.

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Let us know where you end up visiting.

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