A Great HACK to Live in a High Tax Country Without Paying Taxes

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Today I'm in Beautiful France that unfortunately has terrible taxes! It always inspires me to talk about legal tax reduction strategies.
So is there a way to live in a high tax country without paying taxes? What if I told you there is!
There is an amazing hack to live in a high-tax country and pay no tax. What is it? It's a student visa!
If you move abroad to a high-tax country as a student chances are you will not have to pay any tax! Students are usually not taxes, as the government deems them to not have much income. This way you can be a resident, without becoming a tax resident.
However, keep in mind that this strategy cannot work out forever. It can be good for only a couple of years. This will also not work with every country, but it will certainly work with lots of them.
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We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
We have lots of interesting articles on different topics, we have relevant information up to date.
Author: Michael Rosmer
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[@cryptoFi]

Interesting. I am curious how that works for Spain, France, Italy and Portugal, if you move from another EU country.

[@tinglestingles]

I know you can learn Muay Thai or self-defence in Thailand with an educational visa with renewal for up to 4 years - obviously, they will not test you at the immigration office like Thai language courses!

[@OffshoreCitizen]

Thanks for always enriching our comment section with interesting stories☺ Have you ever attended any of the Muay Thai courses?😄

[@peaceonearth8693]

How many of the viewers of this channel would not die within the first hour of un-airconditioned Muay Thai training in Thailand? LOL I've studied this sort of thing for a long, long, long time. And, they hit you in the head in serious Martial arts classes.

[@tinglestingles]

@@OffshoreCitizen Thanks... not bloody likely! My wife says ...I'm a sponge for both interesting and useless facts! I prefer polymath!

[@tinglestingles]

@@peaceonearth8693 The fact is... the self-defence course is a little relaxed I understand... they don't even care if you attend or not (allegedly). The course is run by the local police commander in Chiang Mai - ALWAYS useful to have people in high places. I am talking of 'normal times' - I really don't know how Thailand is fairing in this current emergency. Price THB33,000.

[@peaceonearth8693]

@@tinglestingles Yes, it's true that if you pay the Baht, they don't care what you do after that. But, for those who want to train and spar, it's tough stuff. Really hard to impress the police in Thailand, because one, there are a lot of other Farang with the same idea. Second, it's the tourist police you'll be dealing with if there's a problem. Third, all the cozy deals are already made for who gets advantaged, among the local groups. Fourth, like with sails to wind. It's necessary to be aligned right with whichever party is most able to claim the saving of "face". If a Farang was going to lose face, they might let you go and pretend nothing happened. But, if it's the Thai who stands to lose face, expect the full weight of law to descend on the outsider. For starters. As for how Thailand is fairing. Well, the tourist sector is hurting. Foodlines, urban people going back to their villages. They have isolated "sandbox" areas, but new variants are causing lockdowns and curfews. And, they are not first in line to get the latest vax's, even though they are supposed to have good (albiet sometimes un-airconditioned) hospitals.

[@alexrappoport2911]

Great video as always, Mike. Australia does this as well. Good luck on the new project.

[@OffshoreCitizen]

Thank you for the continuous support, Alex! It's truly appreciated🙏

[@SenorJuan2023]

You can get a one year student visa in Germany by taking German language classes for a certain number of hours.

[@OffshoreCitizen]

That sounds great! Have you done it?

[@SenorJuan2023]

@@OffshoreCitizen No, but I might eventually. I was stationed in Frankfurt during the Cold War. According to youtube polyglots, though, it's better to learn languages via other methods. Traditional classes focus too much on grammar. I'm starting to learn Spanish this month. My plan is to spend at least a year in South America once I get proficient in Spanish. Then move around to other parts of the world and learn other languages. French would be the next language. Loved Berlin.

[@SenorJuan2023]

@@OffshoreCitizen My preference would be use another type of visa due to cost and time requirements of the language classes. I do hope to learn German on my own, though.

[@enjoyslearningandtravel7957]

@@SenorJuan2023 you wrote that traditional classes focus too much on grammar, well it’s good to learn the basics and needed and vocabulary along with the basic grammar . And then when class is out to go to meet up groups or meet with friends in the local language and actually practice the language freestyle then drink a good beer or a good wine it’s also easier in making new friends.

[@SenorJuan2023]

@@enjoyslearningandtravel7957 The problem is that you when focus too much on grammar, you supposedly start overthinking it and try to be perfect.

[@ilya6355]

2 new ideas for videos. 1. Getting a loan from your company to save on taxes. Is it a viable strategy since generally you pay loans back with after tax money. Its discussed a lot, but I can't seem to grasp where are savings here. 2. What happens if you lose crypto wallet keys. Consequences for general annual asset reporting and expatriating.

[@OffshoreCitizen]

These are all great suggestions! Thank you very much, Ilya!☺

[@MichaelRosmer]

I've done a video in the past on living on borrowed money but usually it's not borrowed from within the company, that's tougher. Usually you borrow against real estate, life insurance, or shares

[@ilya6355]

@@MichaelRosmer Even so, you repay it with after tax money, right?

[@dankerchum]

Are you legally allowed to operate a business while in the USA on a student visa, as you're technically working in the USA? I don't think so, but I'm sure there's a legal way to structure the company to not be under your management? I assume this is the process that you walk your clients through on your consultations? Or am I just seeing problems that don't exist?

[@MichaelRosmer]

Generally (again varies by where) you can't work locally this is usually for having a foreign business

[@aussiecapitalist614]

You can even register a company in USA while on a visa waiver, I had to do it years ago when I bought a commercial property there and the only way to connect the electric without a social security number in that area was under a company name registered at that address, as for day to day operations of that company that could be a different story but not sure if or how it would be policed, I soon got the E2 visa so I was OK for me.

[@dankerchum]

@@aussiecapitalist614 thanks for the info! I'll go for an E2 next year. Even though I read it typically requires a $100k investment, it depends on the business type. I talked to an e-commerce business owner who had to re-invest $50k. Either way, even at 100k it sounds better to have full control of how to allocate the funds as opposed to paying college tuition. But this video was for living in the US and not being a part of the US tax system. Which Michael's process would help you do. But since I'm doing business in the US, I'll be a part of the tax system either way. There are a lot of nuances to take into account when doing tax planning.

[@face2much]

Damn, I will be in Paris on the 8th - would’ve loved to drop in on a conference. Always good content friend - cheers.

[@OffshoreCitizen]

Thank you! Happy to hear that! Anything you'd like to see next?

[@face2much]

@@OffshoreCitizen yes, some content on which little known countries allow foreigners to own real estate.

[@TheChickenenchilada]

Easy. Step 1: Acquire large sums of crypto and store in hardware wallet. Step 2: Lose said hardware wallet in a boating accident. Step 3: Live tax free anywhere in the world as a broke nomad.

[@Gorilladome4664]

Michael, or anyone quick question....anyone have experience in moving a stock portfolio from say Canada, North America....offshore to an overseas broker, 'in kind' without having to liquidate your stocks into cash, wire...re purchase etc....I can do this locally within Canada between the different brokers, but international? Thanx!!!!

[@nick_g]

You are a genius level master hacker sir! Sharing this vid

[@OffshoreCitizen]

Thanks, Nick! Anything you'd like to see next?

[@peaceonearth8693]

I appreciate the work O.C. put into giving us the information. But, seriously. You never thought of school oversees to get an extended stay somewhere? (And, then thought to look for tax loopholes.)

[@nick_g]

@@OffshoreCitizen I got 3 ideas for content. First idea... Jack Dorsey and Silicon Valley are looking at African nations for expansion. I think Lagos is the likely silicon valley of Africa in the future. What are the best countries for everything (taxes, banking, real estate, foreign friendly, setting up business, etc.) in Africa... I guess this one could be lots of videos, but you never hear about Africa. Second Idea... real estate is going crazy in America as it has for a while now. What countries would be good for an american to buy real estate? Third idea... I think another big crash is coming to the stock market around 2023-2024. What countries would've been great flight to safety countries in 2008-09 and what countries would be good for it today?

[@tinglestingles]

Could you produce a video to showcase the project you briefly discussed at the start?

[@OffshoreCitizen]

I will share more details about it soon👍

[@tinglestingles]

@@OffshoreCitizen Many thanks!

[@hakimboxing6672]

Another hack, if you have a business in Estonia and keep reinvesting the profits, I believe you can defer the taxes under CFC rules as an American.

[@gn2650]

Can I stay all year long somewhere my tax residency has a tax treaty with, without paying tax there?

[@OffshoreCitizen]

No, if you live somewhere you will become tax resident there

[@gn2650]

@@OffshoreCitizen what if you have a tax residency and real state property on country a but not in country b, , and according to tax treaty with country b, you only have to pay tax on a, because the real state ownership is the first and most important criteria of the tax treaty?

[@strongpizza]

tax rates in turkey are 5 times the tax rates in america i wish i was in america

[@genegene8686]

France requires students over 25 to pay tax on all income….

[@lucchese20]

Well…you confirmed I was correct! Without really knowing anything (just a good guess) a few months ago I recommended to a friend of mine (who didn’t want to go thru the Portuguese D7 visa process) to go as a student. My only thought was neither of us are exactly spring chickens 🐓 😁 Any age limits that you’re aware of? I suspect it may depend on the specific school but thought you might have some insight. Cheers.

[@MichaelRosmer]

I haven't seen such limits but probably some countries have them

[@mado.madeleine]

No age limits for students in EU.

[@Undisclosed86467]

I know of a lady doing this to stay in the US. She's in her early '70s. Finished an English program and now she's studying Economics. The funny thing is that all courses are online so she doesn't even need to be here. Loophole, I guess.

[@NomadicJulien]

Interesting. Are those the same as Working Holiday Visa/Mobility Visa ?

[@MichaelRosmer]

No they are different but the rules are country by country

[@Ekami67]

What about Working Holiday visas? Do you also get exempt from paying taxes?

[@MichaelRosmer]

Local taxes no, foreign I'd have to check but it's not long term so...

[@Ekami67]

@@MichaelRosmer Hmm, I'm pretty sure NZ working holiday visas do not exempt you from local taxes (they specifically say you need to get your tax ID with the IRD) but I was more concerned about foreign income.

[@joshuabinegar4877]

Would it work in Australia?

[@MichaelRosmer]

Not sure off the top of my head would need to check their visas

[@joshtisdale6201]

I got a question best countries to have a foundational trust this is a foundation that has been modified to also be a be a trust

[@OffshoreCitizen]

Have you seen these videos? kzbin.info/www/bejne/oWLdeIyiatSEftk kzbin.info/www/bejne/lZanp6Owgs6aY6c kzbin.info/www/bejne/rnezm6dupq2aZ68

[@MichaelRosmer]

I've discussed a bit of this "best country" topic in some previous videos. There is no "best country" it depends on individual circumstances

[@joshtisdale6201]

I mean best foundations that can be used in countries that prefer trust law

[@martg0]

Do we have hope from Argentina? 🇦🇷 👀

[@peaceonearth8693]

Now more than ever, if you're clever. You'll need an out of country business, foreign accounts and a good VPN to run it with. I recommend learning how to do something in investing.

[@SolOInvictus]

Maybe that's a good tip to avoid the French government taking your money, but it doesn't stop you getting pickpocketed, being held hostage in a cab for tips, or having your bags stolen in Paris.

[@peaceonearth8693]

Petty theft and taxes are on two different levels of cost, aye?

[@MichaelRosmer]

@@peaceonearth8693 Haha yeah the French government robs about 3 orders of magnitude more

[@zahir1283]

Good opation but people who has money to save taxes must be 40 years + and to enroll for any courses it will e very difficult to convince immigration officials

[@OffshoreCitizen]

It's not meant to suit everybody, but a piece of interesting advice that some people may find useful. You can check out some of these and let us know what you think: kzbin.info/www/bejne/ZpbTonWqf62ie68 kzbin.info/www/bejne/pH2Xd5hsrKeAh8k kzbin.info/www/bejne/moDGq2ZvqZmBrZo kzbin.info/www/bejne/g3vdppZ-ntWfZ8U

[@MichaelRosmer]

Convincing immigration is usually super easy with student visas

[@zahir1283]

Thanks mate

[@dexterspeights3484]

The ulimate magic tax trick by Accountant Merlin!

[@user-fi1kn3oq4m]

Bro the real wizard-warlock is the us government

[@タラバガニアシモフ]

Can we open local bank account with student visa and digital nomad visa (´・ω・`)？

[@unknownninja4430]

not renounce my citizen, only idiots do that.

[@guitrr]

I disagree with the basic premise of this video. High tax nations have high taxes so those funds can be used for the betterment of their society: social programs, child care, education, infrastructure, etc. If someone moves there because they enjoy the living conditions, they should be paying the same taxes as the local residents.

[@tentimetex]

But why assume that just because taxes are high, that all of the above mentioned services will also be of high quality? America: has high taxes, but in a lot of states there are no societal programs, no child care, education is cr*p and the infrastructure sucks. Singapore has very low taxes. It has great infrastructure and social programs and the living conditions are excellent. Ireland has lower taxes for business than, lets say, Germany, but the infrastructure in Ireland is just as good. So, why would you pay 30% in Germany if you could pay 12,5 in Ireland and have the same quality of services? The decision on the direction of tax policy is political and ideological more than anything else, and one could make the same argument as you, but prove economically that in order to achieve a good level of public services we need to lower taxes rather than raise them. Also, why do people assume that governments set policy without realizing the loop-holes that they leave open, and then that the governments are shocked and dazed to find that they exist? They know exactly what they are doing and what the possibilities are. If a person takes the initiative to improve their financial situation and take advantage of the possibilities that the government has allowed, then they should be allowed to do that. And if someone knows of those possibilities but chooses not to take advantage of them, then thats okay too.

[@peaceonearth8693]

It's off to Scandinavia for you. My comment is: What foolish form of idealist are you? Perhaps investigate the way the real world works. I can already imagine your answer back. It's people like you that make me enjoy being ruthless!!! :-D Oh, the way things are supposed to work - cry that out and watch people smirk.

[@msdella4253]

Ms Miller that is

[@tinglestingles]

@@peaceonearth8693 I'm expecting the usual from him... "it's the price for having a civilised society"!!!

[@newparadigm907]

The brainwashing is strong in this one. Maybe get into the real world and understand how criminal all governments are