Are You a Milk Cow for the Government?

[nbruno322]

Interesting article, thought I would share as tax day approaches..

http://im-stable.s3.amazonaws.com/images/Tax-freedom-day-bannernew.jpg?javer=1304120856

"In this world nothing can be said to be certain, except death and taxes.”

~ Benjamin Franklin

In most cases Mr. Franklin's statement would be correct. However as you will see below, there are some countries in the world where you can be certain you won't pay taxes.

With the year 2013 marking the 100th anniversary of the income tax and the Federal Reserve in the US (two of the most powerful tools the government uses to extract wealth), I thought it would be useful to look at when Tax Freedom Day occurs across the world to gain some perspective.

Tax Freedom Day (TFD) is the day of the year that the average person has in theory earned enough money to pay their annual tax bill.

If TFD falls on January 1st that means you are a milk cow for ZERO days out of the year for the government. If it falls on June 30th it means you are working 181 days each year to pay off your taxes.

Unfortunately most of us will spend some time during the year acting as a milk cow in some fashion for a government.

Below is a table showing when TFD hits in the countries within the EU.

The government of Hungary, Belgium, and France are the worst offenders in the EU, keeping their citizens in tax servitude astoundingly until around August each year.

http://www.internationalman.com/images/countryimage.PNG

If you are unlucky enough to be in the suffocating grasp of a high-tax jurisdiction you will likely have only a couple of months of salary (if even that) out of the year that can be potentially utilized as savings after essential living expenses are met.

In the US, TFD comes around April 17th. Of course individual circumstances will vary and TFD in the US can come a lot later than April 17th for many Americans.

Whether you are American, European, or any other nationality, it doesn’t have to be this way. You do not need to be working for the government for a good portion of the year.

It is possible to take steps to internationalize and legally reduce the number of days the government milks you of the fruits of your labor.

Some countries do not have an income tax, or essentially any other type of tax that could hit the average individual.

TFD could come on January 1st for you if you have no external obligations and fall under the jurisdiction in any of the countries in the table below.


Countries With No Personal Income Tax
Andorra
Anguilla
Bahamas
Bahrain
Bermuda
British Virgin Islands
Brunei Darussalam
Cayman Islands
Kuwait
Maldives
Monaco
Oman
Qatar
Saudi Arabia
St. Kitts & Nevis
Turks and Caicos
United Arab Emirates
Vanuatu

There are many ways to internationalize and legally structure yourself and your business around these and other low-tax countries.

One possibility could involve an American citizen obtaining a second citizenship, then becoming a resident of one of the countries above, and finally renouncing US citizenship in order to obtain a tax-free existence. Of course this is but one possibility. There are many options with varying degrees of protection.

You could prove Benjamin Franklin wrong – taxes are not necessarily a certainty.

International Man (http://www.internationalman.com/about-im) is here to help you develop and implement the options to internationalize – yourself, your savings, and your income. Internationalizing helps reduce your political risk and dependency on any particular government. It makes it harder for any government to treat you like a milk cow.

It is still legal and practical to take steps to internationalize, but if history is any guide it won’t be so forever. Especially as governments (particularly in the West) become more desperate.

Your first step toward internationally diversifying your savings is to tune in to a Casey Research webinar on the subject. Internationalizing Your Assets premiers at 2 p.m. Eastern Time on Tuesday, April 30. Doug Casey – Casey Research chairman and a New York Times best-selling author – highlights a blue-ribbon cast of financial experts who will reveal their favorite strategies for protecting your wealth abroad. Get more information and register now. (http://internationalize.caseyresearch.com/go/bwFda/MAN)

http://www.internationalman.com/78-global-perspectives/907-are-you-a-milk-cow-for-the-government

[jclay2]

Yes, I am a good little slave (milk cow). The government really should love me. They don't have to pay any welfare benefits or utilize vital resources on me or my family and I pay a shit ton in taxes. Whats not to love.

[MRK]

Yep, already working on establishing residency in the Bahamas.

[jclay2]

Yep, already working on establishing residency in the Bahamas.

What are said benefits and risks to doing this?

[nbruno322]

Yep, already working on establishing residency in the Bahamas.

Are you American?

If so you could claim about $100k of your foreign income to be excluded from US taxes if you become a genuine resident of the Bahamas. Thought the only way to escape taxation above that on foreign income and the need to file your annual reports no matter how much you earn is to die or renounce your US citizenship.

[MRK]

Its a long drawn out process, and the IRS has made it take longer to do so if you want to stay in good graces with the fedcoats, but you can renounce citizenship and regain a visa to enter the US.

I would love to continue staying an American, but I fundamentally object to handing out millions to the welfarewarfare projects of the fedcoats for the rest of my life.

That said, I selected the Bahamas as its a brief boat ride over to South Florida. It will take some time and a lt of money to gain residency and petition for citizenship, but I finish my goals. I also am going to establish a 'backup' residency to start a path to citizenship at one of the other countries on that list in case the Bahamas get hijacked, however this backup is still under debate.

[Grubb556]

I'm a male, so I'm an unmilkable bull

[nbruno322]

Its a long drawn out process, and the IRS has made it take longer to do so if you want to stay in good graces with the fedcoats, but you can renounce citizenship and regain a visa to enter the US.

I would love to continue staying an American, but I fundamentally object to handing out millions to the welfarewarfare projects of the fedcoats for the rest of my life.

I don't see anything wrong with that.

You could also look into St. Kitts & Nevis, a Caribbean country with zero income or any other taxes. They give people citizenship with a $400k real estate investment. Dominica also sells passports for about $100k a pop. Those are the only two legit economic citizenship programs in the world.

If you have ancestry in certain countries like Italy, Ireland, Spain, etc. it is possible to get a second passport that way too.

[nbruno322]

That said, I selected the Bahamas as its a brief boat ride over to South Florida. It will take some time and a lt of money to gain residency and petition for citizenship, but I finish my goals. I also am going to establish a 'backup' residency to start a path to citizenship at one of the other countries on that list in case the Bahamas get hijacked, however this backup is still under debate.

Just curious, could you please summarize what the process is to obtain residency and citizenship in the Bahamas? Many thanks in advance.

[MRK]

Just curious, could you please summarize what the process is to obtain residency and citizenship in the Bahamas? Many thanks in advance.

Well, you need a certain amount of years living in the bahamas to apply for citizenship (6-9 years). http://www.thebahamasweekly.com/publish/a-taste/A_Bahamas_Citizenship_Not_as_Easy_as_you_Might_Thi nk10103.shtml

How do you reside there legally? http://www.hg.org/article.asp?id=6274
Buy a house. 250k purchase will get you permanent residence although you don't have the right to work. Obviously I think self employment would be exempt if it's done outside of the country. a 500k real estate purchase will get you permanent residency with the right to work.

However given the proximity of the Bahamas to the US I'm always cautious about regime change to tax grabbers. I like the way St. Kitts & Nevis and Dominica sound for backups (or even as a faster path to non-US non-taxed citizenship with the Bahamas being the backup), I just have to research them more to make sure the regime is solid.

[MRK]

Here's the automatic visa entries available to those with Dominican passports:

AS of December 3,2009 Countries Dominican Citizens could Visit Visa Free/Paises que Ciudadanos Dominicanos pueden Visitir Sin Visa

Visa Free 90 days or less/Visitas Hasta 90 Dias
Botswana
Chile
Colombia
Ecuador
IsRael
Japan
Korea
Kosovo
Malaysia (60 days)
Montserrat
Nicaragua
Trinidad
Tobago
Uruguay

Visa Free 30 days or less/Visitas Hasta 30 dias
Cook Islands
Hong Kong
Maldives
Micronesia
Montenegro (7days)
Niue
Philippines (21days)
Seychelles
Singapore

Visa on Arrival/Visas en el Aeropuerto(cost of Visa In US dollars/Costo en Dolares Americanos)
Armenia $50
Azerbaijan $100
Bangladesh $50
Bolivia $51
Cambodia $20
Central African Republic $50
Cuba $15
Djibouti $65
Egypt $15
Georgia $30
Iran (Must Get Approval Online www.mfa.gov.irere)
Jordan $15
Kenya $50
Laos $30
Lebanon
Macao $12
Madagascar $75
Mozambique$25
Nepal $25
Palau Islands $50
Samoa
Solomon Islands
Tanzania $50
Togo $25
Turkey $20
UGanda $50
Zambia $50
Zimbabwe $30

Visa Free with US & Canadian Permanent resident Cards/Sin Visa cuando tiene Tarjeta de Residencia de Estados Unidos O Canada (Countries with a ** a Valid US,Canadian,European Visa would be enough to Enter Visa Free)
Aruba
Bahamas
Bonaire
Canada
Cayman Islands
Costa Rica**
Curacao
Jamaica
Mexico
Panama**
Turks & Caicos**
British Virgin Islands

Visa Free when Holding a Valid Resident Permit for one of the Shenghen European Countires/Sin Visa cuando tiene Una Tarjeta de Residencia Para algun Pais Europeo Schenghen(Countries with a ** a Valid US,Canadian,European Visa would be enough to Enter Visa Free)
Austria,
Aruba
Belgium,
Bonaire
Czech Republic
Costa Rica**
Curacao
Denmark,
Estonia,
Finland,
France,
Germany,
Greece,
Hungary,
Iceland,
Italy,
Latvia,
Lithuania,
Luxembourg,
Malta,
Mexico
Netherlands,
Norway,
Panama**
Poland,
Portugal,
Slovak Rep,
Slovenia,
Spain,
Sweden
Switzerland
Turks & Caicos**

For 75k investment and no taxes, not bad. I'm not sure I would enjoy Dominica though, maybe I should visit first and decide if I want to hold out for Kitts or the Bahamas (although I'm not particularly impressed by the Bahamas either). I like that with this visa I could go to most Latin American countries for 90+ days. Also Japan and Korea, Hong Kong and Singapore. I have friends in all those places that I could visit that would keep me entertained for a long enough time until I could get Kitts citizenship and go throughout Europe/US.

I would just have to avoid getting a significant other for a while until that day comes - she obviously would want to see her friends/family etc. Even if she said she could handle it, I'm sure she'd realize the gravity of the situation about 2 weeks after being out of the states without a ticket back for the next X amount of years, and freeeeaaak out. I've lived outside of the US for about 2 years of my life so I already personally know many of the trials involved with living abroad. This would be a whole different world of change though of course.

Avoiding a serious relationship until that day? Challenge accepted ;)

[MRK]

Actually, this website states there are many more visa opportunities available than the ones listed in that list. Perhaps it has changed?

http://www.goccp.com/ENG/second-passport/2nd_passport/Second_Passport/Dominica_Citizenship_and_Second_Passport.htm

Travel visa-free to more than one hundred (100) countries including: Great Britain, Hong Kong, Liechtenstein, Ireland, South Korea and Switzerland. Where a visa is required (Schengen States), it is relatively easy to obtain it within a day.

[MRK]

Visa Free Travel

COMMONWEALTH OF DOMINICA PASSPORT HOLDERS

ENTRY REQUIREMENTS



Country

Need to present upon arrival

Visa free period

Visa granted at airport/border

Adelie
French visa

-

Afghanistan
Visa

-

Akrotiri
No visa

Six months

-

Albania
Visa

-

Alderney
No visa

Six months

-

Algeria
Visa

-

American Samoa
US Visa

-

Amsterdam Islands
French visa

-

Andorra
No visa

-

Angola
Visa

-

Anguilla
-

31 days

-

Antarctica
No visa (Canadian visa is required for transit in Canada)

-

Antigua and Barbuda
No visa

Six months

-

Argentina
Tourist or business visa

-

Armenia
Visa

Can also be issued at the borders, if Armenia is not the main destination.

Ascension Islands
No visa

6 months

-

Ashmore and Cartier Islands
Tourist visa (subclass 676 or 679)

-

Australia
Tourist visa (subclass 676 or 679)

-

Austria
Schengen visa

-

Azerbaijan
Visa

-

Bahamas
No visa

Six months

-

Bahrain
Visa

-

Bangladesh
No visa

-



Barbados
No visa

Six months

-

Bassas da India
French visa

-

Belarus
Visa

Minsk Airport
Belgium
Schengen Visa

-

Belize
No visa

Six months

-

Benin
Visa

-

Bermuda
No visa

-

Bhutan
-

VOA

Bolivia
Visa

-

Bosnia and Herzegovina
Visa

-

Botswana
No visa

90 days

-

Bouvet Island
Schengen visa

-

Brazil
Tourist or business visa

-

British Virgin Islands
No visa

Six months

-

Brunei Darussalam
Visa

-

Bulgaria
Visa

-

Burkina Faso
Visa

–

Burma
Visa

-

Burundi
Visa

Entry stamp will be granted

Cambodia
Visa

-

Cameroon
Visa

-

Canada
Visa

-

Canary Islands
Schengen visa

-

Cape Verde
Visa– unless for transit

-

Cayman Islands
No visa

6 months

-

Central African Republic
Visa is required except for transit

-

Ceuta
Schengen visa

-

Chad
Visa

-

Chile
Visa

-

China (Mainland)
Visa

-

Christmas Island
Australian Tourist visa (subclass 676 or 679)

-

Clipperton Island
French visa

-

Cocos (Keeling) Islands
Australian Tourist visa (subclass 676 or 679)

-

Colombia
No visa

90 days

-

Comoros
-

Issued at airport (Normally for 2 weeks)
Congo (Democratic Republic of the)
Visa

-

Congo (Republic of the)
Visa

-

Cook Islands
No visa

31 days

-

Coral Sea Islands
Costa Rica
-

30 days

-

Côte d’Ivoire
Visa

-

Croatia
Schengen visa

-

Crozet Islands
French visa

-

Cuba
Tourist card. This can be bought from your local travel agent

-

Cyprus
Schengen visa

-

Czech Republic
Schengen visa

-

Denmark
Schengen visa

-

Dhekelia
No visa

-

Djibouti
Visa (Personal Interview is required for tourist visa applicants.)

-
Dominican Republic
No visa

Tourist card

Ducie and Oeno Islands
No visa

6 months

-

East Timor
-

Visas usually issued for 30 days and can be extended

Tourist and business visas are issued at the borders and airports

Ecuador
No visa

90 days

-

Egypt
-

-

Visas will be granted at any port of entry

El Salvador
Visa

-

Equatorial Guinea
Visa

-

Eritrea
Visa

-

Estonia
Schengen visa

-

Ethiopia
Visa

-

Europa Island
French visa

-

Falkland Islands
No visa

6 months

-

Faroe Islands
Schengen visa

-

Fiji
-

Visitor’s visa for 4 months

Finland
Schengen visa

-

France
Schengen visa

-

French Guiana
-

15 days, exceeding that requires a Schengen visa

-

French Metropolitan
French visa (Territory of France)

-

French Polynesia
French visa

-

French Southern and Antarctic Lands
Schengen visa is required (Territory of France)

-

Gabon
Visa (Can Apply at french Embassy)

-

Gambia, The
-

90 days

-

Gaza Strip
Georgia
Visa

-

Germany
Schengen visa

-

Ghana
Visa

-

Gibraltar
No visa

6 months

-

Glorioso Islands
Greece
Schengen visa

-

Greenland
Schengen visa (Territory of Denmark)

-

Grenada
No visa

6 months

-

Guadeloupe
-

15 days, exceeding that requires a Schengen visa

-

Guam
US visa is required

-

Guatemala
Visa

-

Guinea
Visa

-

Guinea-Bissau
Visa

-

Guyana
No visa

6 months

-

Haiti
No Visa

6 months

-

Heard Island and McDonald Islands
Henderson
No visa

6 months

-

Holy See (Vatican City)
No visa (Schengen visa is needed because you have to pass through Italy)

-

Honduras
Visa for ordinary passport holders, diplomatic, official and service passports are visa exempt

-

Hong Kong
No visa

90 days

-

Hungary
Schengen visa

-

Iceland
Schengen visa (Canadian visa is also required for transit in Canada)

-

India
Visa

-

Indonesia
Visa

-

Iran
Visa

-

Iraq
Visa

-

Ireland (Northern)
No visa

6 months

-

Ireland
No visa

6 months

-

Isle of Man
Israel
No visa

-

-

Italy
Schengen visa

-

Jamaica
No visa

6 months

-

Jan Mayen
Schengen visa (Norway)

-

Japan
Visa

-

Jersey
No visa

-

Jordan
-

Issued at points of entry

Juan de Nova Island
French visa

-

Kazakhstan
Visa

-

Kenya
-

-

-

Kerguelen Islands
French visa

-

Kiribati
Visa

-

Korea, North
Visa

-

Korea, South
No visa

90 days

-

Kosovo
Visa

-

Kuwait
Visa

-

Kyrgyzstan
Visa

-

Laos
-

-

Issued at points of entry

Latvia
Schengen visa

-

Lebanon
Visa

-

Lesotho
No visa

-

Liberia
Visa

-

Libya
Visa

Liechtenstein
Schengen visa

-

Lithuania
Schengen visa

-

Luxembourg
Schengen visa

-

Macau
No visa

90 days

-

Macedonia
Schengen C visa

-

Madagascar
Visa

-

Malawi
Visa

-

Malaysia
-

30 days

-

Maldives
-

30 days

Issued at points of entry

Mali
Visa

-

Malta
Schengen visa

-

Marshall Islands
30 ays

Issued upon arrival

Martinique
-

15 days, exceeding that requires a Schengen visa

-

Mauritania
-

Issued upon arrival

Mauritius
No visa

-

Mayotte
Schengen visa

-

Melilla
Schengen visa (Spain)

-

Mexico
Visa

-

Micronesia

No visa

30 day as tourist

-

Moldova
Visa

-

Monaco
Schengen visa (France)

Mongolia
Visa

-

Montenegro
Visa

-

Montserrat
-

Six months

-

Morocco
Visa

-

Mozambique
Visa

-

Namibia
Visa

-

Nauru
Visa

-

Navassa Islands
Nepal
Visa

-

Netherlands
Schengen visa

-

Netherlands Antilles
-

-

New Caledonia
French visa

-

New Zealand
Visa

-

Nicaragua
No visa

-

Country

Need to present

Visa free period

Visa granted at airport | border

Niger
Visa

-

Nigeria
Visa

-

Niue
No visa

30 days

-

Norfolk Island
Australian Tourist visa (subclass 676 or 679)

-

Northern Mariana Islands
-

30 days

Norway
Schengen visa

-

Oman
Visa

-

Pakistan
Visa

-

Palau Islands
No visa

-

Panama
No visa

-

Papua New Guinea
Visa

-

Paraguay
Schengen visa (Denmark)

-

Peru
No visa

90 days

-

Philippines
No visa

21 days

-

Pitcairn Islands
Landing permit (usually for 6 months)

-

Poland
Schengen visa

-

Portugal
Schengen visa

-

Puerto Rico
US Visa

-

Qater
French Visa required

-

Réunion
French Visa required

-

Romania
Visa

-

-

Russia
Visa

-

Rwanda
-

Saint Helena
No visa

-

Saint Kitts and Nevis
No visa

Six months

-

Saint Lucia
No visa

Six months

-

Saint Pierre and Miquelon
Saint Vincent and the Grenadines
No visa

Six months

-

Samoa
-

-

Tourist visa granted for 60 days

San Marino
Schengen visa (Territory of Italy)

-

Sao Tome and Principe
Issued at airport

Saudi Arabia
Visa

-

Senegal
Visa

-

Serbia and Montenegro
Visa

-

Seychelles
-

Visitor’s permit on arrival

Sierra Leone
Visa

-

Singapore
No visa

-

-

Slovakia
Schengen visa

-

Slovenia
Schengen visa

-

Solomon Islands
Visitors permit on arrival

Somalia
Visa

-

South Africa
Visa

-

South Georgia and the South Sandwich Islands
No visa

6 months

-

Spain
Schengen visa

-

Spratly Islands
Sri Lanka
Visa

-

Sudan
Visa is required except for transit

-

Suriname
No visa

6 months

-

Svalbard
Schengen visa (Territory of Norway)

-

Sweden
Schengen visa

-

Switzerland
Schengen visa

-

Syria
Visa

-

Taiwan
Visa

-

Tajikistan
Visa

-

Tanzania
No visa

-

-

Thailand
Visa

-

Timor-Leste
-

Visas usually issued for 30 days and can be extended

Tourist and business visas are issued at the borders and airports

Togo
Visa

Visa can also be granted at the airport, but these visas are for only 6 days

Tokelau
Visa At Samoa or Tuvalu

-

Tonga
No visa

30 days

-

Trinidad and Tobago
no visa

6 months

-

Tromelin Islands
French visa

-

Tunisia
No visa

90 days

-

Turkey
ü Can be issued at the border gate (usually for 90 days)

Turkmenistan
Visa l

-

Turks and Caicos Islands
No visa

-

Tuvalu
No visa

-

Uganda
Visa

-

Ukraine
Visa

-

United Arab Emirates
Visa

-

United Kingdom
No visa

6 months

-

United States
US visa

-

Uruguay
Visa

(Uruguay offers visas at ports of entry for tourist on certain conditions, but better to obtain from nearest consulate)

Uzbekistan
Visa

-

Vanuatu
No visa

-

Venezuela
No visa

-

Vietnam
Visa

-

Virgin Islands
US visa

-

Wake Islands
US visa

-

Wallis and Futuna
French visa

-

West Bank
Western Sahara
Same visa as Morocco

Yemen
Visa is required except for transit

-

Zambia
No visa

-

-

Zimbabwe
-

Visas are issued at the airport

http://www.passportdominica.com/84-2/

Woot!!!! I'm really excited now.

[Czolgosz]

Gah damn fictions.

[DamianTV]

I got something you can "milk" right here...