This is tough on Americans, especially with the FATCA law that mandates most financial institutions to rat you out to the IRS for placing money abroad. Even Thai banks ask those silly questions. I am blessed to not be American. Along with surveillance, phone tapping, bank account auditing, abroad bank snitching, you are all set to become a totalitarian police state.
Though anyone with ~300k to spend can get an Antigua & Barbuda citizenship (my application is currently pending). With offshore companies and a properly made setup (this implies forking a few thousands bucks to a professional), you can do business with zero tax. For Americans, that's a good way to give up on their passport; for others, it's a good way to have a second passport. Let's put two hypothetical scenarios:
1) I work in a hotel in Thailand; I have to declare revenue to the Thai government, and pay tax.
-or-
2) The hotel employs "XYZ Management" (or whatever my offshore company is named) as "management services", and I work with zero tax, since my offshore company will pay tax in the incorporation juridiction, which is usually 0% for income acquired outside the said country. And I am not an employee of the hotel from a tax point of view.
The more you hate on rich people, the poorer you will be. I wouldn't care paying A BIT of tax if my taxes were PROPERLY spent. Financing refugees, welfare, and support for single motherhood is not something that I want to be involved in.
I have been in business for 8 years. I can tell you that tax is a punishment. It's money that could easily be invested in something that brings you something in return.
I know how to play fair game: yes, I use offshore companies to hide my shit, but:
- When I am sick, I go to a private hospital, and I pay for it.
- When I will have a child, I will not accept government help; I will support him myself with my wife.
- I pay for my driver's license, my passports, toll roads, etc.
- In short, I pay out of pocket for the "benefits" that I would normally get from public funds.
Even for someone who is a simple employee and has no control on his company's corporate structure and all that stuff, if they make a high income, let's say 200k and above, there will be an additional tax paid, but this raises 3 questions:
1) If you make 200k per year, you surely have the means to hire a professional planner to help you dodge tax instead of sacrifying 50% of your income;
-or-
2) Why don't more people use Bitcoin? That's the best way to hide your stash, and prevent "freezes" if a tax authority decides that it wants its cut.
-or-
3) Why do you continue working in a place that takes 50% of your salary?
Just my advice on the matter.
Though anyone with ~300k to spend can get an Antigua & Barbuda citizenship (my application is currently pending). With offshore companies and a properly made setup (this implies forking a few thousands bucks to a professional), you can do business with zero tax. For Americans, that's a good way to give up on their passport; for others, it's a good way to have a second passport. Let's put two hypothetical scenarios:
1) I work in a hotel in Thailand; I have to declare revenue to the Thai government, and pay tax.
-or-
2) The hotel employs "XYZ Management" (or whatever my offshore company is named) as "management services", and I work with zero tax, since my offshore company will pay tax in the incorporation juridiction, which is usually 0% for income acquired outside the said country. And I am not an employee of the hotel from a tax point of view.
The more you hate on rich people, the poorer you will be. I wouldn't care paying A BIT of tax if my taxes were PROPERLY spent. Financing refugees, welfare, and support for single motherhood is not something that I want to be involved in.
I have been in business for 8 years. I can tell you that tax is a punishment. It's money that could easily be invested in something that brings you something in return.
I know how to play fair game: yes, I use offshore companies to hide my shit, but:
- When I am sick, I go to a private hospital, and I pay for it.
- When I will have a child, I will not accept government help; I will support him myself with my wife.
- I pay for my driver's license, my passports, toll roads, etc.
- In short, I pay out of pocket for the "benefits" that I would normally get from public funds.
Even for someone who is a simple employee and has no control on his company's corporate structure and all that stuff, if they make a high income, let's say 200k and above, there will be an additional tax paid, but this raises 3 questions:
1) If you make 200k per year, you surely have the means to hire a professional planner to help you dodge tax instead of sacrifying 50% of your income;
-or-
2) Why don't more people use Bitcoin? That's the best way to hide your stash, and prevent "freezes" if a tax authority decides that it wants its cut.
-or-
3) Why do you continue working in a place that takes 50% of your salary?
Just my advice on the matter.