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#61
11-23-2005, 09:55 PM
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Re: Moving to Aruba/Cancun/Australia tax/residency questions
[ QUOTE ]
another nice incentive however is that they have the party cruise come down to aruba every year [/ QUOTE ] [nit] the tourney in aruba is in late Sept to early Oct and is a UB tourney (also on the PTT of course. The party cruise is in March and does not go to Aruba. Last year the cruise left San Diego and went down the Mexican Riviera to Mazatlan and Puerto Vallarta. This year it leaves from Miami/Ft. Luaderdale (I think) and goes to Cayman Isls and Cozumel. You're just mixing up your tropical WPT tourneys. No biggie. [/pick] 
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#62
11-23-2005, 11:35 PM
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Re: Moving to Aruba/Cancun/Australia tax/residency questions
[ QUOTE ]
[ QUOTE ] you still have a ten year US tax obligation if the IRS determines that a contributing factor to your decision of denouncing your citizenship was to avoid taxes. You still lose. [/ QUOTE ] They would enforce this how? This is justifiable how? That just seems plain wrong. (Not wrong in that your information is incorrect, WakeUpCall, but morally wrong that the US gov't could lawfully bind you to pay taxes for 10 years when you're not a citizen and don't even reside in the US. I'd love to hear any kind of justification for this.) [/ QUOTE ] The fact that they tax money that you EARNED is morally wrong no matter where you live.
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#63
11-24-2005, 02:20 AM
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Re: Moving to Aruba/Cancun/Australia tax/residency questions
What if I'm a permanent resident of the US but not a citizen? Can I just move wherever I want (with local permission) and not worry about the US taxes, only the local taxes?
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#64
11-24-2005, 02:31 AM
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Re: Moving to Aruba/Cancun/Australia tax/residency questions
Interesting.
No idea about the answer...but interesting nonetheless. Permanent residents obviously have tax-obligations when they are in the country. But does having just a green-card (without citizenship) mean you still have a tax-obligation from abroad. Anyone know?
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#65
11-24-2005, 03:33 AM
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Re: Moving to Aruba/Cancun/Australia tax/residency questions
[ QUOTE ]
[ QUOTE ] you still have a ten year US tax obligation if the IRS determines that a contributing factor to your decision of denouncing your citizenship was to avoid taxes. You still lose. [/ QUOTE ] They would enforce this how? This is justifiable how? [/ QUOTE ] They enforce it by simply picking you up at the airport the next time you set foot in the US? The entire US overriding right to taxation is pretty unjustifiable. The entire rest of the world tax you solely based on where you were living during that fiscal year.
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#66
11-24-2005, 08:28 AM
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Re: Moving to Aruba/Cancun/Australia tax/residency questions
It depends on what you want and how much you are willing to pay for what you want.
If you want to keep your US citizenship and pay taxes over the $80K/year earning limit, you can do that. If you want to acquire another country's citizenship, it can be done, for a different price depending on the country. Prices range from $10,000 to $100 million. (Yes, Monaco citizenship is also for sale, although not directly. Swiss is much cheaper at approximate $10-$20 million). Very good Central American citizenships can be gotten for ~$25,000 or so. If you want to give up on US citizenship, it can also be done legally. You need to acquire another country's citizenship first, unless you are a masochist. Some people may consider US citizenship too expensive. It depends. I used to be very biased on this one, but I have come to accept that some people just want to remain US citizens, with its advantages and disadvantages. Most countries citizenships can be gotten for free thru marriage and certain number of years of residence. Others can be gotten thru investment of a certain sum, and some years of residency. Canadian and Australian come to mind. Many other countries have inmigration programs, and will grant citizenship after a few years. To move to Aruba with residency, you only need to show proof that you aren't going there to look for work, and that you can sustain your stay. A bank statement with ~$200K and a property/lease contract, and a local lawyer will fix you up. Your issues with the IRS and US taxes are a separate issue. You could spend 4 months a year in 3 different countries, with a passport of a 4th country, as a "permanent tourist" and not be liable for taxes anywhere. Many very wealthy, and not so wealthy individuals do just that. There are many more choices. Too many to list here. For the record. I currently have 3 different citizenships, all legal, 2 from European Union countries. I'm, leasurely pursuing another 3 citizenships, one in Canada, two in the Far East. My 4 year old girl has already 4 different, legal citizenships. I got them all for nominal sums charged by the consulates of those countries. Your family ancestors can help you get many, marriage also (though in other ways this is very expensive! [img]/images/graemlins/grin.gif[/img]). If you need more specific advice. I can give you some free advice. The leg work is yours. You need to establish what your top priorities are. PM me if you wish. My final choice destination is Bonaire. I just purchased some property there. I plan to travel often to the US, Europe and South America. Good luck with your choices. They are about to be the most expensive/important decisions of your life. I wish I had known all these things when I was 19.
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#67
11-24-2005, 12:04 PM
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Re: Moving to Aruba/Cancun/Australia tax/residency questions
[ QUOTE ]
thanks AAsooted this is exactly what im looking for. do they have links like this for aruba and mexico by any chance? [/ QUOTE ] They're probably out there, but I don't know them off the top of my head. I just knew Australia because I'd thought about moving there a couple years back. I'd try Googling on immigration and the country. If they have an official site, it ought to come up on the first page or two.
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#68
11-24-2005, 01:24 PM
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Re: Moving to Aruba/Cancun/Australia tax/residency questions
Renounce your citizenship on the grounds that "I never signed the constitution, why should I be bound to it just because I was born under the jurisdiction of a certain government?" (if only this was actually possible).
Also, I am 'The Don'... not you! [img]/images/graemlins/wink.gif[/img]
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#69
11-24-2005, 01:45 PM
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Re: Moving to Aruba/Cancun/Australia tax/residency questions
[ QUOTE ]
[ QUOTE ] I'm considering moving out of the country sometime next year or the year after and I think the 2 most desireable places are Aruba, Cancun Mexico and perhaps Australia. How can I get granted permanent residence in Aruba, Mexico or Australia? From my understanding you can only live in these countries for a temporary period unless you become a citizen or somehow become approved for permanent residence. How do I go through this process for each country and how hard is it to get in for a professional internet gambler? Secondly, from my understanding Aruba and Australia does not tax gambling winnings. Is this true? Does Mexico tax online gambling winnings (is online gambling even legal?) and if either countries tax you what is their going percentage? I'm going to have to pay taxes on my winnings either way to the US but I'd like to get the 80k credit of course. If Mexico's/Australia's tax rate is as high as ours then I wouldn't be able to save anything on taxes. I've tried to do alot of google research on the following questions but I just can't come up with anything. Please help me out with this or point me to a webpage/person that I could get some answers out of. Thanks a bundles [/ QUOTE ] I'm assuming you are U.S. citizen. You have to pay taxes on your winnings no matter where you live. [/ QUOTE ] Really? Does that mean that as a U.K. citizen I don't have to pay gambling taxes wherever I live?
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#70
11-24-2005, 02:18 PM
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Re: Moving to Aruba/Cancun/Australia tax/residency questions
[ QUOTE ]
[ QUOTE ] [ QUOTE ] I'm considering moving out of the country sometime next year or the year after and I think the 2 most desireable places are Aruba, Cancun Mexico and perhaps Australia. How can I get granted permanent residence in Aruba, Mexico or Australia? From my understanding you can only live in these countries for a temporary period unless you become a citizen or somehow become approved for permanent residence. How do I go through this process for each country and how hard is it to get in for a professional internet gambler? Secondly, from my understanding Aruba and Australia does not tax gambling winnings. Is this true? Does Mexico tax online gambling winnings (is online gambling even legal?) and if either countries tax you what is their going percentage? I'm going to have to pay taxes on my winnings either way to the US but I'd like to get the 80k credit of course. If Mexico's/Australia's tax rate is as high as ours then I wouldn't be able to save anything on taxes. I've tried to do alot of google research on the following questions but I just can't come up with anything. Please help me out with this or point me to a webpage/person that I could get some answers out of. Thanks a bundles [/ QUOTE ] I'm assuming you are U.S. citizen. You have to pay taxes on your winnings no matter where you live. [/ QUOTE ] Really? Does that mean that as a U.K. citizen I don't have to pay gambling taxes wherever I live? [/ QUOTE ] It means you have to pay the taxes of the country you are living in, but you don't owe anything to the UK if you aren't living there. It's a pretty sweet deal that I wish we had here.
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