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Global Taxation and Jurisdiction Guide
In essence everything First Celtic International does is based around this and the lifestyle you choose for you and your family.
Your approach to this will be completely different depending on your family situation and what your trying to achieve with your life. For Example, if you’re a Digital Nomad who can do their job anywhere in the world then you really have the opportunity to pay close to zero tax completely legally. However, if you have a family and young children then you have a set of other factors like schooling and healthcare that impact your destination and whilst you can avoid paying the high levels of tax in the major economies of the world you will have to pay a little more.
The Global Taxation Market Place
With the exception of USA which has its own set of rules you can choose to become a non-tax resident of most other countries in the world by leaving that country and spending less than 180 days a year in that country. This will differ slightly from country to country. If you embark down this road you need to make sure you are complying with your own countries rules 100%. Once you have done this you are free to find accommodation in a country with a more favourable tax status that will reduce your worldwide tax liabilities. Our rule of thumb for this to make a difference to your life you should be earning 120,000 USD a year. If your making millions, then it is without doubt a major consideration for you.
Which Jurisdiction is the Most Tax Effective for You?
In essence there are many especially in South East Asia and the Caribbean and even in Europe and the EU. So the number one first choice you should make is where you want to pay very little tax i.e. where do you want to base yourself and live. Some people will maybe just travel the world and base themselves in 4 destinations whereas most of us want to put down some routes somewhere especially when we have families.
To give you some examples in South East Asia then Philippines, Thailand and Malaysia all have good options where you pay no tax on your international income. The rules differ on how you achieve that and what you have to do to comply with the rules of those counties but these countries offer great taxation and lifestyle options for you.
The most tax efficient tax location for a long time has been the Caribbean and that’s still the case but the question you have to ask yourself can you see yourself living in Antigua or Bahamas all year round is it the lifestyle you want for you and your family. If you have business interests in North or South America, then maybe it is your preferred choice. From a Taxation point of view, it is probably still the number one area for paying next to zero tax.
Another area where you can pay very low taxes are in EU countries such as Cyprus and Bulgaria. You will probably need to Acquire a EU passport from a Citizenship by Investment program but this can allow you work and travel all over Europe and pay very low taxes. Emerging fast as new options are the old soviet eastern European countries like Armenia, Moldova and Georgia who are looking to entice people like you into their countries with their own Citizenship by Investment programs.
Just Remember You Have to Pay Tax Somewhere!
There are lots of people around the world who pay no tax or file no taxes who are in essence tax nomads. However, if you do this then a country you have resided in recent years and say if you are not paying tax in any country you should pay it here. Also if you want to be a world player in business and make an IPO you want to be able to pass the relevant due diligence criteria and paying tax nowhere is not ideal. Most importantly you can choose to pay tax or file tax returns and pay close to zero.
Let First Celtic Help You Reduce Your Taxation close to Zero -100% Legally Certified.
Whilst were not Lawyers, Tax Advisors or Accounts we engage the services of the very best professionals in the world to make sure both First Celtic and our clients do not have to pay any more tax than is needed.
Again USA citizens are excluded from this but we can advise and help reduce your taxation but not to zero like we can with European Citizens.
In simple terms become one of our special 12 clients a year and we will help you choose your base country to live and make your tax home and then set up the relevant structures in that country to make you 100% legal.
We will advise on all things from company formations, to opening bank accounts to acquiring a second passport. Everything we advise you is a 100% guaranteed plan to change your life and taxation status for as long as you want.