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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: steve susko who wrote (23798)5/20/1999 11:12:00 PM
From: Patrick Slevin  Read Replies (2) of 44573
 
Taxes and the Ex-Patriate American

No, actually it's a very complex arrangement.

Canadian, you need about 6 months, I think. Micks, such as myself, can just claim it back.

The issue is, countries like Ireland and Canada don't tax citizens living overseas.

Bermuda and the Caymans and a few others don't tax income from aliens.

So, for example, if you are an Irish citizen living abroad the Irish government does not tax your income.

Bermuda does not tax the income of aliens.

So guess what? You make a million, you keep a million.

Now US Estate taxes are a tad more convoluted but you still get that same edge after expatriating for x number of years.

Disadvantages?

You can only come back on average 182 days a year.

Advantages?

Taxes.

Actually there are other advantages and disadvantages. For example, if Bermuda is attacked by an unfriendly power I lose the protection and succor of the US Government.

This is the Risk I take. I have always been a rather enterprising fellow. If they intend to over-run Bermuda then I imagine I have a problem.

Other than that, my chief problems will be the bucks they insist that an alien pays for a house and the fact that a family is restricted to only one car.
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