Offshore Method to Retire Early and Save an Extra $1,020,109?

[@Starknight00]

Michael . I support your channel and the effort you put out with your due diligence.. such a treasure trove of knowledge. I wish you all the best . And keep up the good work.bro.

[@OffshoreCitizen]

Much appreciated

[@smetzgerful]

That reason to get up in the morning could be a tee time!

[@AlpineDividends]

I never realized that before. Just had to double check the numbers in a spreadsheet cuz they're almost hard to believe.... but are bang on. Gonna have to ponder this for a few days 🤔🤔

[@OffshoreCitizen]

Yeah it's insane. People don't realize the value of deferral

[@peterchirico2153]

Good video Michael . One thing somewhat related to this subject that I don't see a lot of is anyone online talking about what a countries Capital Gains tax is on the sale of a house. One fellow who I respect and is pretty smart when it comes to making money in general spent a lot of time and energy rehabbing a home in Portugal only to find out after he sold it that the capital gains tax is 45%. Ouch !!

[@JoshuaJackson84]

Unless you roll the investment into another property within 36 months.

[@OffshoreCitizen]

Yeah that can hurt. Also depends how much of your wealth or income comes from that source

[@WolfF2022]

In Germany you have no Capital Gains tax on selling real estate when you live in it, I think it was ten years.

[@mvp019]

This notion that retirement is a passive state is just wrong. I want to retire so I have time to do many things that working prevents me from doing. The last thing I will be doing is sitting on my butt watching TV.

[@russells9590]

Exactly same thinking. "Retiring" early would provide an opp to discover what i love doing and hopefully, that will also bring in money.

[@OffshoreCitizen]

Strongly agree with this notion This being said the older we get the more likely we're put into a situation where we're victims of our health and should be prepared for that

[@lolknight4364]

I'd be ok to pay 10-25% of taxes with proper state spending and if I felt the financial system was better gestionned and without so much inflation and printing. A bigger percentage means to me that something is wrong as work effort isn't enough encouraged. Thank you Michael for those great advices ! I believe you are at Skadarsko Jezero lake because you often go to Montenegro and it looks like a lake with mediterranean vegetation.

[@OffshoreCitizen]

Good guess but no this is actually the US

[@TravelerJerryLee]

Lake Tahoe, Nevada, USA

[@OffshoreCitizen]

Correct well done!

[@kimberlyg123]

Please do share where this is, it’s beautiful.

[@OffshoreCitizen]

Mentioned it in the next video

[@ciaransheil563]

Great video as always Michael, An interesting video would be on investing in US property, Can it be CGT tax-free for non US persons ?, Then how do you go about planning that for the US estate tax given the limit of $60,000 for non americans ?

[@OffshoreCitizen]

Good suggestion will do

[@michieme2339]

So where was this lovely scenery, Michael? It looks like my town in Quebec but warmer, so I'll guess Colorado? lol

[@JoshuaJackson84]

Where in QC?

[@OffshoreCitizen]

I mentioned in the next video

[@michieme2339]

@@JoshuaJackson84 eastern townships!

[@Bohemiahotrodandcustom]

I'm curious about your thoughts on Bahrain, is it worth checking out as a possible alternative to Dubai? Bahrain is on my radar as a place to move my company to. If I don't move my company within the next 6 months the Australian Tax Office will wipe my company out of existence.

[@RomilCPatel]

Tax wise Bahrain is slightly better than UAE. It’s also easy to get a residence permit by buying real estate. Lifestyle is still liberal like Dubai but a lot calmer and less 24 hour.

[@OffshoreCitizen]

I'll be doing a video about this and a couple other alternatives soon

[@Bohemiahotrodandcustom]

@@OffshoreCitizen thank you, I'm eagerly watching my notifications.

[@Mancayy]

Hi Michael, I heard that Argentina is abolishing their income tax? Is it becoming a more business friendly location? Could be a good video!

[@OffshoreCitizen]

Video upcoming about this

[@__s_k__]

Can you do a video on what a "dependent" is in the context of becoming a non-resident of Canada. The tax code doesn't seem to define it explicitly. If you have an 18 year old in university no longer living at home, that you no longer financially support, are they considered a primary tie?

[@OffshoreCitizen]

If you aren't providing any financial support then no

[@__s_k__]

@@OffshoreCitizen So my daughter would no longer be a primary tie if I made a large 1 time transfer to her on her 18th birthday and thereafter no further financial support? Awesome channel. Love it.

[@bradleygrasl168]

Lake Tahoe?

[@janajoujan7658]

Somewhere near Canmore.

[@OffshoreCitizen]

Good guess but no

[@BeachBum51050]

Lake Tahoe, NV

[@OffshoreCitizen]

Bravo! Correct

[@Gorilladome4664]

Hey Michael, quick question...is it relatively easy, straight forward, to transfer your equity portfolio, say from Canada to overseas? Much like an in kind transfer, from broker in Canada to broker in say, Caymen for example...as apposed to wiring funds etc...just a swap from broker to broker of your stock portfolio. thanx!

[@WolfF2022]

I transfered a position from a german bank to an US bank and it was not easy, it seemed they had no idea how to do it but after several months I managed to transfer it. The good thing was that I had no costs, if I transfer the money to my US-account from Germany I have quite high fees but the shares were without fees transfered.

[@BlackLabelExpat]

I have an idea. What if you did a CBI evaluation of countries that don't have one. You could say if X country did offer one the value proposition would be $xyz

[@OffshoreCitizen]

Hmm interesting idea, will consider it

[@D00FY]

Please don't tell us where you are.

[@VERTICALWisdom]

MONTENEGRO

[@OffshoreCitizen]

Good guess but no

[@tinglestingles]

Lake Ontario, Canada. or Hyatt Regency Lake Tahoe Resort, Spa And Casino - suite 412 😀

[@swoldier1016]

November beach weather in Canada?

[@tinglestingles]

@@swoldier1016 videoed a month ago?

[@RomilCPatel]

I don’t think lake Ontario has hills around it like the one Michael is in and Lake Ontario is of course a lot bigger.

[@randyleebear]

Why in the world do you think retirement is doing nothing? Doing nothing is called death. I think you might want to study the robust lives that seniors live today.

[@OffshoreCitizen]

Lake Tahoe correct, quite close to the Hyatt

[@JoshuaJackson84]

Italy?

[@OffshoreCitizen]

Good guess but no

[@doctorstrange69]

So what's a good annual return on your wealth? Currently I'm doubling every 4 years

[@kyler565]

Double it and give it to the next person!

[@OffshoreCitizen]

I'd say anyone who is averaging 20%/yr over a long period is probably doing quite well. My target is always 30%/yr over a long period though that tends to be pretty difficult

[@larsschouw5]

Are you in Austria?

[@OffshoreCitizen]

Good guess but no

[@stevemyers2092]

Okanogan Lake - BC

[@OffshoreCitizen]

Good guess, not quite

[@stevemitchell7839]

Lake Okanagon

[@OffshoreCitizen]

Good guess but no

[@itsJoshClips]

looks like canada

[@OffshoreCitizen]

Good guess but no

[@Mr_Fairdale]

Lake Tahoe

[@OffshoreCitizen]

Yes!

[@Existmusiccloud]

Retire in France?

[@OffshoreCitizen]

Sounds expensive 😜

[@Bohemiahotrodandcustom]

EARTH

[@RomilCPatel]

Yep I’m also guessing he’s someone on earth.

[@mnestler31]

Lake Tahoe

[@OffshoreCitizen]

Bravo!