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Tax residency in the British Virgin Islands

Tax residency in the British Virgin Islands

Old Oct 20th 2020, 10:45 pm
  #16  
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Default Re: Tax residency in the British Virgin Islands

Here's Cayman's latest offering, in case anybody is interested. Probably not many BE subscribers would meet the financial requirements, but you never know!
https://caymannewsservice.com/2020/1...obal-citizens/
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Old Oct 27th 2020, 10:54 pm
  #17  
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Default Re: Tax residency in the British Virgin Islands

The initial question is very odd:

There is nothing nefarious about this, it's just that if I don't have a tax residency, my existing country of Australia may feel entitled to claim my tax residency in Australia and demand taxes on foreign income (they have done this to people). I've looked about, and the BVI seems the most attractive zero-tax place to me for several reasons.

It seems that you are living in Australia, the fact that you say you donot have a tax residency does not make sense. Normally you have an obligation to file for taxes in most places of the world. If you move either your self or your company you could plan an exit and prepare for the new location. However more important are you able to reside and/or work in the new location?
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Old Oct 27th 2020, 11:43 pm
  #18  
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Default Re: Tax residency in the British Virgin Islands

Originally Posted by Wharfer View Post
The initial question is very odd:

There is nothing nefarious about this, it's just that if I don't have a tax residency, my existing country of Australia may feel entitled to claim my tax residency in Australia and demand taxes on foreign income (they have done this to people). I've looked about, and the BVI seems the most attractive zero-tax place to me for several reasons.

It seems that you are living in Australia, the fact that you say you do not have a tax residency does not make sense. Normally you have an obligation to file for taxes in most places of the world. If you move either your self or your company you could plan an exit and prepare for the new location. However more important are you able to reside and/or work in the new location?
My guess is that ZZ is not resident in Oz, and receives no income from Oz, and when he said he had no "tax residency" he meant that he doesn't pay income tax anywhere. I was in that position many years ago when I worked in Bahamas and had no income from anywhere else. I still had an Australian passport, but that had no tax implications. Again: when he writes about "zero-tax", he probably means "zero income-tax". ZZ: you might want to clarify that.
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Old Nov 30th 2020, 3:42 pm
  #19  
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Default Re: Tax residency in the British Virgin Islands

i assume OP is referring to income tax. As we can all attest life in the Caribbeans is not without its indirect taxes.

There are some others to consider as well, Panama, Costa Rica, Nicaragua and Dominica. i understand they only tax you on local income, all have relatively easy rules to become resident.
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Old Nov 30th 2020, 3:44 pm
  #20  
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Default Re: Tax residency in the British Virgin Islands

Originally Posted by skip84 View Post
i assume OP is referring to income tax. As we can all attest life in the Caribbeans is not without its indirect taxes.

There are some others to consider as well, Panama, Costa Rica, Nicaragua and Dominica. i understand they only tax you on local income, all have relatively easy rules to become resident.
Same is true here re income and residency, if you know the method, its just that the government dont advertise the fact, preferring incomers to be buying their passports.
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Old Nov 30th 2020, 3:46 pm
  #21  
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Default Re: Tax residency in the British Virgin Islands

Originally Posted by uk_grenada View Post
Same is true here re income and residency, if you know the method, its just that the government dont advertise the fact, preferring incomers to be buying their passports.

all those indirect taxes add up to let our government splurge on the necessities, like the fleet of new escalades they bought here..
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