Quote:
Originally Posted by TheDoc
Outside of my rants, this thread does contain a good deal of info. Overall it's just easier to stay and pay.
And for the record.. I don't have one of these cards, and like the rest of the sheep I pay my personal taxes, and of course I pay my corporate taxes which is law.
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Sure - everyone is different and each probably have personal family issues and other factors to consider - and it's not always about taxes. In reality, I don't mind paying taxes, tho obviously prefer to minimize these. The main factor is not having to waste time accounting for taxation - did that for years and sick of it *lol*
The other major benefit is more lifestyle (you get used to no taxation when it's a "norm") - lifestyle is generally far higher than in industrialized countries and it would be hard to go back to that scenario without whining and moaning. Would also doubt it's just my experience (in fact, know it's not) - there are a wide range of interesting people "offshore" - this may be because they have achieved whatever in their own field of expertise and elected to plan a future life in "paradise world" locations. The chances of meeting that range of people in an industrialized society would probably be remote.
Other biz aspects are "opportunity" when that is blended with the concept of offshore. Some opportunities would just not have been feasible in an industralized country, but mean many millions when allied with offshore - and no taxation on these funds.
There is probably one golden rule which is - "Always comply with all laws in the jurisdiction in which you reside" - this applies to both on and offshore, but there is total freedom in the choice of that jurisdiction