Re: Live in the US, or become a PT?
 

Correct me if I'm wrong but I thought a UK doesn't entitle you to anything other than the rights of a British citizen. Not really up on what EU rights that brings but most of the world either requires a visa to visit and/or is under no obligation to let you in.

Re: Live in the US, or become a PT?
 

Yes, I can see this thread being fun as well :)

You are correct dbj and Tracy - the option to live in the US via the EB-5 route. Rather than shoot down my ignorance, it would well-advised conversationally to assume I've done at least a little research on the matter..

I've been considering my moves for the past 3 years and bought almost every book - and retained every attorney, accountant and regional center president required - to qualify each option.

Of course, I'm not so arrogant to be closed to further opinion (that's the whole point of posting this in the first place)... I'm just further than the "you can only stay 3 months on a passport" point.

Re: working in other countries, I'm not officially working *anywhere*. I derive no source income from the countries I visit. My businesses will be entirely offshore, and my expenses taken care of by bank transfer, and credit card -- none of which are connected to the countries I visit.

The wikipedia reference might be useful to those who are unfamiliar with this rather unusual, and uprooted concept:

http://en.wikipedia.org/wiki/Perpetual_traveler

My question isn't toward the legality, but more to the lifestyle choice. I'm asking your opinion what would be your preference... international, tax-free living with no place to "belong", or a permanent abode in the US and everything the US lifestyle brings with it?

I ask this sincerely (especially to those who may have been faced with the decision to move countries) because I'm genuinely stumped as what to do.

And with the EB5 up for review in Sept '08, I'm feeling the pressure to make a decision.

Thanks for your time and contribution in advance!

Re: Live in the US, or become a PT?
 

I presume the missing word there is "passport".

You're correct to the extent of the sovereignty of a passport holder. Countries are under no obligation to let *anyone* in... but this applies globally to everyone, not just to ex-tax payers of their domiciled countries.

That being said, if there's no reason to reject a passport holder, chances are he/she won't be. Additionally, I'm guaranteed visitation through the EU.

As far as requiring a visa, the UK passport is one of the best to hold, since it generally allows for travel through all commonwealth countries (more than you'd think), and has excellent relations with many other countries besides. I can get into Canada for 6 months, the US for 3, and Australia for approx. 6 with a simple electronic visa that is issued instantly over the Net... not to mention a number of Asian countries, South America, all over the EU, Caribbean, etc.

The point is, a visa is not required for my purpose, at least not to the places I'd want to frequent (and by that I mean, 1-3 months stay a year)

Re: Live in the US, or become a PT?
 

No - I don't plan to work in any country at all.

I plan to have a laptop with me and check my e-mails, and that's it. The kind of businesses I run are businesses that don't require my attention... just the occasional check-up and delegation to staff.

My companies are offshore, my workers are freelance, my bank accounts are in other countries, and I'm paying using plastic (95% of the time), and I have no physical premises.

So getting back to the visa issue, no, one would not be required. I'd be a permanent tourist.

Re: Live in the US, or become a PT?
 

Who me? "Shoot down your ignorance"? I was quite nice, I thought.

Many people come on the forum and aren't aware of the visa requirements - I hadn't yet seen your other thread, and was trying to be helpful. Sheesh.

Giving you the benefit of the doubt (did you do that for me?) thoughts on the U.S. or PT...

If your PT status doesn't affect your ability to do the EB5, why not travel a while then see.

I think being a PT is probably nice for a while, but perhaps not the best for a lifetime in most cases.

I'm a yank, so I like the US lifestyle ok. Is it the best in the world? Probably not for everyone. Are you sure you really like it here?

Re: Live in the US, or become a PT?
 

As far as my accountant advised me, non-residence commences the day you move away. The burden of proof is such that you need to dispose of your UK assets, and prove no further ties to the UK.

As far as "many months away", I've not been advised that that is the case. I DO know that if you return to the UK within the first 5 years, capital gains on any disposed assets must be repaid.

Re: Live in the US, or become a PT?
 

So let me get this straight. You are obviously a multi millionaire, running a handful of companies, however, you are completely hands off and don't do anything other than send the odd email to redistribute your billions in your accounts around the globe.

That being the case, why are you asking us normal people what to do? You've obviously got shat loads of cash, so basically, go and do what you want. Seems to me that your aim is tax evasion, so maybe your life as a PT is the way to go.







Either that, or could you perhaps be a troll.......:p

Re: Live in the US, or become a PT?
 

Well that's sticky ground in the US. If you are getting money via a job/company the US considers you working and even though it's not in their country, you are. Hence the need for a work visa. Even people doing voluntary work can get into trouble.

As to the lifestyle. Have you ever lived in the US? Most of the things you have given as reasons to move here are not things that I, or a great many other people (US citizens or otherwise) find very easily. It's not all fun and games like the movies.

Re: Live in the US, or become a PT?
 

But it's just not that simple, in my opinion.

Let me give you an example. A holder of an H4 visa (otherwise known at the "trailing spouse" visa that you're given as the spouse of an H1 visa holder) may not work while resident in the US. That includes working remotely for a European company or deriving income from employment abroad.

Now this still may not apply to you, but it certainly doesn't mean that you wouldn't need a visa to be resident in the US for longer than 90 days (VWP) or 180 days (if you can get a B2). You know this already, or you wouldn't be looking at the EB5 as a route to Permanent Residency.

If you choose the Permanent Tourist approach, you'd still be confined to the conditions of either the VWP or whatever other visa you were granted.

But you know all that already. Your question is about lifestyle, and that's really a very personal choice, as you've already pointed out.

From reading your posts, I'd say you're successful, young and on a high right now because you're about to make lots of money. That may or may not explain why you also come across as arrogant and immature. These aren't idle insults - they actually factor into my advice. Based on what little you've shown us of yourself, I'd recommend a few years of traveling before you settle down in one place. You don't have family ties right now, so it's an ideal time to be on the move. You'll gain some life experience that may rub some of the less pleasant parts of your character off a little... or not, that's not really anyone else's problem. But at least you'll get to see plenty of the world, and meet plenty of interesting people.

So, don't settle down in the US right now. There's no point, and it won't do anything for you. Travel. See the world. Grow up. It's clearly your best choice.

Re: Live in the US, or become a PT?
 

Sorry Tracy, I was not referring to you - more toward those who were quick to deem the concept "illegal" before they started.

I appreciate your posts, thank you.

The issue with the EB5 right now is that it's up for review in September, and there may be a lag of anywhere from a few months to a few years before it's re-enacted. I don't think there's a current bill ready to take its place. I am also counting on the $500k regional centers being available... congress may decide to shoot that up to the $1m bracket, that would close the opportunity off for many (myself included), for at least a while.

I agree that "traveling and then waiting to see" would be ideal -- unfortunately, I've left it pretty late. With the program closing in about 24 weeks, if I travel and then decide it's not really a match, getting into the US thereafter would be quite difficult, save for marrying a sweet American girl who'd have me! (hmmm)

So I guess I'm just looking for stories of anyone who has made the move in the past, or tried out one or the other. At the end of the day I realize it's a personal decision... just looking for some inspiration!

I really love visiting the US... but I've never been for more than 7 weeks at a time, so I really don't know how it'd be to live there. Even residency doesn't have to be permanent.

Thanks!

Re: Live in the US, or become a PT?
 

Maybe not INCOME taxes...

Re: Live in the US, or become a PT?
 

I don't speak without merit. The fact that my motivation to move is fueled by the current climate of the UK speaks for my feelings.

If other citizens are "continually" running the place down, consider why.

This, for me at least, is simply not an ideal place to live.

As far as obesity... I don't see what that really has to do with anything.

Re: Live in the US, or become a PT?
 

Probably because too many of them read the Daily Mail, have never lived elsewhere and have no basis for comparison.

Fair enough, I just take exception to people banging on about the UK being a dump when on my visits to the UK (most recently two months ago) it looks to me anything but.

never mind

Re: Live in the US, or become a PT?
 

I got it. Perfectly answered the statement really.

Re: Live in the US, or become a PT?
 

And you surmised that from one post?

I appreciate the honest critique, but I feel you've misinterpreted the bluntness of my retort with arrogance. I see nothing immature about keenly expressing my intentions, nor of the motivation behind my move. These are opinions formed with 26 years of residency... and shared by a great number of the expat community who choose to move away from their domicile for the same, or similar, reasons.

I certainly would not apologize for my stance, nor do I owe you - or flagrant holier than thou types like you - the courtesy of fitting your mold.

Grow up? Please. You've reduced a 26 year lifespan (11 years of have been full-time effort to bring my professional life to the point of freedom I can now enjoy) into a few lines of text.

You're either extremely gifted, or offensively judgmental. And I have a feeling you have a stronger tendency to assume it's one over the other.

Still... you took the time to post, and for that, I'm grateful. Cheers.