Citizenship Abroad to Avoid Paying Taxes...
 

The fact that these UK 'blokes' dont have to pay taxes makes me green with jealousy. I'll owe Uncle Sam an abusrd amount of money, perhaps a $100K at the end of the year. If it costs even half of that to establish citizenship in another country Ill eat my hat.

Has anyone put in any serious research about giving up US citizenship in exchange for that of another country?

Re: Citizenship Abroad to Avoid Paying Taxes...
 

If you want to renounce your US citizenship and become a citizen elsewhere, this is pretty easy to do in a lot of small countries for a small fee with minimal requirements.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

Renouncing your US citizenship is not that easy, especially if the US gov't belives you are doing so for tax purposes. US gov't

"Also, persons who wish to renounce U.S. citizenship should also be aware that the fact that a person has renounced U.S. citizenship may have no effect whatsoever on his or her U.S. tax or military service obligations (contact the Internal Revenue Service or U.S. Selective Service for more information)."

Re: Citizenship Abroad to Avoid Paying Taxes...
 

Sure pop over here for a month, and pay the equivalent of $1100 for a 2001FP, $11 for a gallon of petrol, twice as much as you pay for almost any computer component or any consumer electricals. Pros and cons on everything, I wouldn't move from the UK, but you would be crying out for home after a couple of days, taxes on imaginary earnings or no.

Mack

Re: Citizenship Abroad to Avoid Paying Taxes...
 

People like you make me want to puke.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

This is a pretty bad idea if you plan on doing anything for a living besides gambling, and because laws are never static.

-Diplomat

Re: Citizenship Abroad to Avoid Paying Taxes...
 

I believe I previously read you are in your 20s, which makes this a pretty awful idea.

By the way, from the consistent modesty in your posts, I assume you and BK are related?

Much love,

Oscar

Re: Citizenship Abroad to Avoid Paying Taxes...
 

why? i dont want bolivian citizenship. im talking uk, france, swiss, etc...

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This is a pretty bad idea if you plan on doing anything for a living besides gambling, and because laws are never static.

-Diplomat

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Re: Citizenship Abroad to Avoid Paying Taxes...
 

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People like you make me want to puke.

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likewise

Re: Citizenship Abroad to Avoid Paying Taxes...
 

stupid nonsense.

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Sure pop over here for a month, and pay the equivalent of $1100 for a 2001FP, $11 for a gallon of petrol, twice as much as you pay for almost any computer component or any consumer electricals. Pros and cons on everything, I wouldn't move from the UK, but you would be crying out for home after a couple of days, taxes on imaginary earnings or no.

Mack

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Re: Citizenship Abroad to Avoid Paying Taxes...
 

It's a bad idea as without US citizenship, you will have troubles working in the US again. The US has also previously put people who renounce citizenship on a "no admit" list to the USA, so you would be unable to return to the US at all in the future (ie, you would be turned back at immigration if you flew in).

More citizenship info

"Note, incidentally, that former US citizens who are deemed to have renounced their US citizenship in order to avoid paying US taxes are barred from entering the US, under a 1996 act of Congress [Public Law 104-208, § 352; INA § 212(a)(10)(E); 8 USC § 1182(a)(10)(E)]."

Re: Citizenship Abroad to Avoid Paying Taxes...
 

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why? i dont want bolivian citizenship. im talking uk, france, swiss , etc...

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This is a pretty bad idea if you plan on doing anything for a living besides gambling, and because laws are never static.

-Diplomat

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Yeah, go for Swiss. By far the easiest to get, and no worries about military service since they are neutral and all.... [img]/images/graemlins/blush.gif[/img]

Re: Citizenship Abroad to Avoid Paying Taxes...
 

I really, really doubt you want to renounce your US citizenship. Are you ever going to want to work or live in the US again?

Re: Citizenship Abroad to Avoid Paying Taxes...
 

I knew someone who did this to andorra. There were a variety of drawbacks, including only being able to send like 30 days per year for 10 years here, and is supposed to file taxes for 10 years. I know if you just reside offshore you are exempt from taxes on like your first 80k or so.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

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I knew someone who did this to andorra. There were a variety of drawbacks, including only being able to send like 30 days per year for 10 years here, and is supposed to file taxes for 10 years. I know if you just reside offshore you are exempt from taxes on like your first 80k or so.

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Hey. I live offshore now. Do I get the first 80K of my gambling wins tax free? or is this only for money already being taxed by another country?

Re: Citizenship Abroad to Avoid Paying Taxes...
 

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I really, really doubt you want to renounce your US citizenship. Are you ever going to want to work or live in the US again?

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no desire to live in usa, but would like to vacation. if i could never return, itd be a real hard decision.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

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stupid nonsense.


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How so? My guess is you either misunderstood what I said, or you are just a silly little kid who has no idea how easy his life is. Eveything costs twice as much here, and we earn a lot less than yanks do.

BTW I didn't mean I don't believe you are winning, all I meant is the UK tax system doesn't treat gambling winnings as income because the players are always net losers when taken together, casino profits are taxed.

Mack

Re: Citizenship Abroad to Avoid Paying Taxes...
 

The exemption only applies on earned income, which gambling winnings do not come under.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

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why? i dont want bolivian citizenship. im talking uk, france, swiss, etc...

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This is a pretty bad idea if you plan on doing anything for a living besides gambling, and because laws are never static.

-Diplomat

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EU citizenship is very hard to get.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

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why? i dont want bolivian citizenship. im talking uk, france, swiss , etc...

[ QUOTE ]
This is a pretty bad idea if you plan on doing anything for a living besides gambling, and because laws are never static.

-Diplomat

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Yeah, go for Swiss. By far the easiest to get, and no worries about military service since they are neutral and all.... [img]/images/graemlins/blush.gif[/img]

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You do realize that in most cases, "neutral" does not mean pacifist, but rather "I guess we are on our own against everybody."
linky

-Diplomat

Re: Citizenship Abroad to Avoid Paying Taxes...
 

I'll be more direct. It would suck to denounce US citizenship for, say, Canadian citizenship, and then have the Canadian government decide to tax gambling. Now you are stuck up here, paying taxes anyway. (not that it would be so bad. [img]/images/graemlins/smile.gif[/img])

-Diplomat

Re: Citizenship Abroad to Avoid Paying Taxes...
 

Game, set, match.

I, however, do not believe the OP is a net winner such that he would be in the hole to Uncle Sam the tune of $100,000 in income tax.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

kkf, interesting idea, but money is money, and not too important. lose some money for flexibility in your life

Re: Citizenship Abroad to Avoid Paying Taxes...
 

Set up an offshore corporation. Hire yourself as a contractor, paying whatever minimum amount you think you can convince the authorities you live on. Buy everything else through the company. You'll probably have to move offshore for this to work, but you can retain US citizenship.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

Try one of the Baltic countries of old Soviet block. THey sell citizinship for nominal price and working on getting into EU.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

The Baltic states are already in the EU. I don't know if this has made it harder to become a citizen, but it certainly wouldn't surprise me.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

[ QUOTE ]
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why? i dont want bolivian citizenship. im talking uk, france, swiss , etc...

[ QUOTE ]
This is a pretty bad idea if you plan on doing anything for a living besides gambling, and because laws are never static.

-Diplomat

[/ QUOTE ]

[/ QUOTE ]

Yeah, go for Swiss. By far the easiest to get, and no worries about military service since they are neutral and all.... [img]/images/graemlins/blush.gif[/img]

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You do realize that in most cases, "neutral" does not mean pacifist, but rather "I guess we are on our own against everybody."
linky

-Diplomat

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Ummmm, exactly. You think the military service is the tough part, you should look into Swiss citizenship. Also, adjust sarcasm detector accordingly.

What, the [img]/images/graemlins/blush.gif[/img] wasn't enough of a hint for you?

Re: Citizenship Abroad to Avoid Paying Taxes...
 

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Ummmm, exactly. You think the military service is the tough part, you should look into Swiss citizenship. Also, adjust sarcasm detector accordingly.


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By what standards can anyone possibly judge the Swiss to ever have been neutral. Politics forum Mack, bahave now.

Mack

Re: Citizenship Abroad to Avoid Paying Taxes...
 

Yeah, mine is in the shop right now. I figured after the fact.

-Diplomat

Re: Citizenship Abroad to Avoid Paying Taxes...
 

however, I believe if you are filing a schedule C and therefore as aa professional playing poker with the expectation of income (also can deduct expenses and get to agg.) then I believe the exemption applies. If your lumping in other income, it doesn't...

Why not just pay your fkn taxes?
 

Why not just pay your [censored] taxes you weasel?

Dogmeat [img]/images/graemlins/spade.gif[/img]

Re: Why not just pay your fkn taxes?
 

</font><blockquote><font class="small">Svar till:</font><hr />
Why not just pay your [censored] taxes you weasel?

Dogmeat [img]/images/graemlins/spade.gif[/img]

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I agree with this post and the one about wanting to puke.

Re: Why not just pay your fkn taxes?
 

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Why not just pay your [censored] taxes you weasel?

Dogmeat [img]/images/graemlins/spade.gif[/img]

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i dont live in the US.

i never want to return to the US.

i beneft zero from paying taxes to the US.

i hate the US government and feel that they waste tax money.

i feel that the current tax laws are bullshit: especially gambling tax, death tax, gift tax.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

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however, I believe if you are filing a schedule C and therefore as aa professional playing poker with the expectation of income (also can deduct expenses and get to agg.) then I believe the exemption applies. If your lumping in other income, it doesn't...

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can anyone confirm or deny this?

Re: Citizenship Abroad to Avoid Paying Taxes...
 

It's a nice idea but not terribly easy. In particular, flexibility to return to your homeland may be something you find desirable later in life. The second problem is that any desirable country is fairly difficult to acquire citenzenship for, and therefore requires a long-term plan and concerted effort.

You need to look into the rules for EU countries. Marrying an EU citizen is the quickest route. This should, in fact, be easier than it sounds. Meeting a receptive girlfriend/friend is one option. I know two people who have married someone purely to get them UK citezenship. One of these did it as a friend, the other got payed several thousand pounds.

The other option would be to look in to the rules for non-EU east european countries. In particular, Croatia is on the Medditeranian, is cheap, beautiful, friendly, and is a future candidate for the EU (surely a matter of "when", rather than "if"). I believe croatia is in a process of major renewal with a growing tourist industry, and has great potential for investment right now.

It may be worth researching the rules for all EU candidates (I think they are Bulgaria, Croatia, Romania and Turkey(not a good option)), as these could offer a potential "backdoor" for EU membership. Once they are incoporated to the EU you can then move where you like.

If you really want to do this it will take research, a long-term plan and many big decisions, but it is definately do-able.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

Nice post, stigmata.

All you people who say he wouldn't be able to return to the US because of "tax evasion", is this really such a big concern? How likely is it that they would a.) even know that the OP is making significant money if he doesn't use any American banks and b.) be able to prove that he renounced his citizenship for tax reasons? It would be easy to say that he's renouncing in protest of the war or because he has a girlfriend (real or not) in some other country or even just likes the weather. I could of course be wrong as I have no experience with this but it sounds like an empty unenforcable threat to me.

Re: Why not just pay your fkn taxes?
 

Kane-

Did you grow up in the U.S.? If so, you have already benefitted from other peoples tax dollars for your education, health care and overall quality of life that got you to where you are today. If the aformentioned is true, it seems you owe the U.S. government big time.

Now either shut the F-up and pay back your debt to society or burn your U.S. passport in front of the entire 2+2 board.

Re: Why not just pay your fkn taxes?
 

This "debt to society" argument is asinine. People don't choose where they are born.

Re: Why not just pay your fkn taxes?
 

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Kane-

Did you grow up in the U.S.? If so, you have already benefitted from other peoples tax dollars for your education, health care and overall quality of life that got you to where you are today. If the aformentioned is true, it seems you owe the U.S. government big time.

Now either shut the F-up and pay back your debt to society or burn your U.S. passport in front of the entire 2+2 board.

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You might just be the biggest idiot ever.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

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If you want to renounce your US citizenship and become a citizen elsewhere, this is pretty easy to do in a lot of small countries for a small fee with minimal requirements.

[/ QUOTE ]

Try HERE. [img]/images/graemlins/grin.gif[/img]