Going Offshore

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dsiomtw said:
That's fine. So why not just say you think you would be happier living somewhere else? Don't make it about taxes though. Again, I think you'd be hard-pressed to find many successful US-born entrepreneurs or high net worth individuals who have given up their US citizenship and moved abroad just to save on taxes.
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most high wealth ( over 20mm ) are also highly known too, so its hard for them.. if your talking less then 20 million net worth, youd be surprised how many are leaving though.
 
dsiomtw said:
Why do you need to go offshore to have lawsuit protection? The key is to own nothing, but control everything. And have a good umbrella policy! But if you own nothing no one will waste their time suing you. You don't need to do a bunch of complicated and expensive offshore stuff to make yourself "lawsuit proof"...
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Im not picking apart your post, but you are right on this.

Own nothing, control everything and have umbrella as I have said this for years on this forum.

However, why not add in another layer since you have several already in place? That extra layer?... being offshore.
 
so much ignorance on this subject. if you really want to know, talk to a lawyer and accountant that specialize in offshoring
 
also, to finish up my comments...

if any of you are saying to not go offshore for whatever reason, please dont post why unless you have traveled to more then 2 continents. If you haven't been outside the USA and 1 other place, then I dont see validness an any claims that you could make about:

1. quality of life
2. taxes
3. legal issues
4. hassle involved with setups
5. etc...

For those that have been on at least 3 continents, then I would like to revisit your statements.
 
posted by lukep:
Because many countries out there offer a better tax situation than living in the US! (Or staying a US citizen.)
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It's worth pointing out here that living in the US is actually a pretty good deal for most non-Americans. Like most other countries worth visiting, the US treats its visitors better than it does its own citizens in many ways.


Frank
 
I don't see what the renouncing citizenship shit is all about. Why not just pay yourself a salary from a company that is located in a tax haven while you're travelling the world? Yeah, you enslaved US citizens still will pay tax on your personal income. But from what I can tell, you won't be taxed on the income of a non-US business entity if you're not residing in the US, or will you?? Somebody please feel free to correct me if I'm wrong.
 
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