How to best set up your taxes, residency and and business as a digital nomad?
TheGlobalCitizen 2015-05-19 14:28:17 UTC #32
Nobody forces you to set up a company. You can get income wired to your bank account no problem.
Note that with opening an account most banks ask for a utility bill in your name, which may be difficult to obtain as a DN.
TheGlobalCitizen 2015-05-26 18:16:14 UTC #34
If you do not mind I have a number of questions.
What do you mean with making your income legal? Legal where and to whome? Is it a requirement of an exiting country?
It is not "illegal" to live without residency or tax residency. What is illegal is for example living somewhere and not paying taxes when you are obliged by law. But those are two different things.
And for going from a no-tax situation to a taxed (and high paperwork) situation you should have a good reason.
replay 2015-05-26 18:39:56 UTC #35
Thanks for replying. I don't think my income
is currently illegal, but I'm also not sure if it's completely legal, it feels more like some grey state actually because I never pay taxes anywhere.
I think you are right that probably Hong Kong isn't the right solution for me, basically I was just looking for something that allows me to reply to anybody who claims taxes like "look, it's taxed already". So actually I was more looking for an insurance that guarantees that I can keep what I have on the bank account.
I actually wouldn't mind paying taxes in Switzerland, since they are relatively low anyway. So today morning I've contacted the Swiss government tax authorities and explained my entire situation to them, their reply was kind of funny saying "As far as we know in your situation you do not need to pay any income tax in Switzerland, and I've never heard of a case of somebody volunteering to do so before" lol. So that makes me worry less at leastSource: nomadforum.io