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Check out our article: How to Avoid Paying Taxes https://nomadcapitalist.com/finance/legal-tax-reduction/how-to-avoid-paying-taxes/
After being in this business for so long, we have come across numerous different tax misconceptions.
US citizens, on the other hand, are subject to citizenship-based taxation, which means they are always US tax residents and must pay tax on their worldwide income no matter where they live.
Either way, if you are a tax resident of a country that taxes your worldwide income, it doesn’t matter where the money is earned, you are required to pay taxes on it.
If you live in Canada and you own investment properties in the United States, you’re still liable for tax on that income in Canada. Through tax credits and treaties between the US and Canada, you’re probably not going to pay anything more than you pay to the United States but you’re still liable for it.
Most of these countries will dictate that if you own, control, or have beneficial ownership of a foreign corporation while living and paying taxes in their country you are going to be taxed by that country on your corporation as if it were based in your home country.
You can’t simply go to Belize once a year for a board meeting when you’re a Canadian tax resident and avoid paying tax because you didn’t take the money with you.
In this video, Andrew opens a secret what he calls the scorched earth plan to reduce taxes overseas.
Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best".
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Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle.
Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort.
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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.