D
DeletedUser394
Guest
Question is mainly for Globalwealth. But if anyone else knows anything about what I'm talking about, your insight is appreciated as well.
I'm a Canadian citizen.
Say I move to the Bahamas, Andorra, etc.
Income earned by citizens outside the country isn't taxed, and by setting up residence in a country with little or no income/corporate/capital gains taxes, does my taxable income rate become effectively 0?
The question is this;
Say I invest in stocks/bonds/etc of foreign companies trading on an American stock exchange. When a capital gain is realized, do I owe money to the country of origin of the company (who's shares I bought and sold), or to the USA because the exchange is in America, or to the country in which I'm residing (let's say the Bahamas), which has a 0% capital gain tax... in which case I would owe nothing.
Put simply, when buying and selling assets in countries other than your own, do you owe taxes to the country in which the assets are bought and sold, or to your country of residence. If you're taxed in the other countries (other than the one your living in) what's the point of moving to a low/no-tax country in the first place.
'Tax havens' have me intrigued, but I'm not quite understanding how it works.
And when drawing an salary, I would also owe no tax due to the 0% income tax rate in the country I would be living in.
The main thing though is capital gains. If I move to a country with no capital gains, but a modest income tax, then that's feasible as well.
I'm a Canadian citizen.
Say I move to the Bahamas, Andorra, etc.
Income earned by citizens outside the country isn't taxed, and by setting up residence in a country with little or no income/corporate/capital gains taxes, does my taxable income rate become effectively 0?
The question is this;
Say I invest in stocks/bonds/etc of foreign companies trading on an American stock exchange. When a capital gain is realized, do I owe money to the country of origin of the company (who's shares I bought and sold), or to the USA because the exchange is in America, or to the country in which I'm residing (let's say the Bahamas), which has a 0% capital gain tax... in which case I would owe nothing.
Put simply, when buying and selling assets in countries other than your own, do you owe taxes to the country in which the assets are bought and sold, or to your country of residence. If you're taxed in the other countries (other than the one your living in) what's the point of moving to a low/no-tax country in the first place.
'Tax havens' have me intrigued, but I'm not quite understanding how it works.
And when drawing an salary, I would also owe no tax due to the 0% income tax rate in the country I would be living in.
The main thing though is capital gains. If I move to a country with no capital gains, but a modest income tax, then that's feasible as well.
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