Good places to live as an internet marketer?
- Thread starter jasonpoxxon
- Start date
Are you making 5 fig a month? If not, don't bother.
What's UK tax laws on remitted income from overseas?
You can probably talk to thuxen here for more info but one way of doing it is to register a company in HK, open a bank account there, and travel there every year to do your taxes.
Since all your income don't come from HK, you pay 0 taxes.
With this setup, you can live anywhere else in the world, as long as you come to HK once a year to do your tax filing.
Bringing your money back from HK to the UK will be a problem though, seek professional advice please.
What's UK tax laws on remitted income from overseas?
You can probably talk to thuxen here for more info but one way of doing it is to register a company in HK, open a bank account there, and travel there every year to do your taxes.
Since all your income don't come from HK, you pay 0 taxes.
With this setup, you can live anywhere else in the world, as long as you come to HK once a year to do your tax filing.
Bringing your money back from HK to the UK will be a problem though, seek professional advice please.
going to setup something in HK soon, in singapore you can setup a pte and then only take year end dividends and pay around 10% taxes not bad.
the only thing that you haven't considered is cost of living. If you dont know yet, property prices in HK and Singapore are one of the highest.
I pay $5K per month rent for a condo and you wont find a decent condo apartment lower than $1.4 mil. just for knowledge, USDSGD=1.2 only. thats just rent, almost everything else is super expensive here in SG.
so if you are dreaming about staying here with "cheaper" than US mindset, you are doing it wrong
Singapore is pretty expensive. I know because I am a Permanent Resident here. I have been here for like 11 years.
I spend like 1000 dollars a month for a decent small room (no bathroom attached inside) near city area. And if you want to stay in a good studio apartment, that will set you back by 3500 bucks a month. That is not inclusive of internet and electricity bills.
Food is pretty cheap if you eat at hawker center, but the problem is they cook oily stuff (read:no healthy shit), since I am into body building, I can't do that shit, and I cook for myself. And if you like to eat organic stuff like I do, it is very expensive here.
Income tax is pretty low 5-20% depending how much you earn and whether you are a resident or not. For more details go to IRAS: Tax Calculators
On top of that, you've gotta pay 20% of your income to the govt on top of your income tax. This is capped at $4500 income level. If you earn more than $4,500, you only need to contribute $900 (=20% x $4,500) to your CPF.
Cars are very expensive because the govt tax (the tax is around $50000 for a decent new car). Not to forget, you also need to pay for the gas, insurance, parking fees, and maintenance. All of which are expensive as compared to other developed countries. Having said that, you don't need to own or drive a car here because the public transport is pretty good. One thing I don't like about the public transport here is that during rush hours, the fucken trains are full of smelly people.
I spend like 1000 dollars a month for a decent small room (no bathroom attached inside) near city area. And if you want to stay in a good studio apartment, that will set you back by 3500 bucks a month. That is not inclusive of internet and electricity bills.
Food is pretty cheap if you eat at hawker center, but the problem is they cook oily stuff (read:no healthy shit), since I am into body building, I can't do that shit, and I cook for myself. And if you like to eat organic stuff like I do, it is very expensive here.
Income tax is pretty low 5-20% depending how much you earn and whether you are a resident or not. For more details go to IRAS: Tax Calculators
On top of that, you've gotta pay 20% of your income to the govt on top of your income tax. This is capped at $4500 income level. If you earn more than $4,500, you only need to contribute $900 (=20% x $4,500) to your CPF.
Cars are very expensive because the govt tax (the tax is around $50000 for a decent new car). Not to forget, you also need to pay for the gas, insurance, parking fees, and maintenance. All of which are expensive as compared to other developed countries. Having said that, you don't need to own or drive a car here because the public transport is pretty good. One thing I don't like about the public transport here is that during rush hours, the fucken trains are full of smelly people.
Singapore sounds damn expensive. Not sure the value is there. If you are willing to trade perfect order for a little more chaos then there are lots of places that seem like a better value. There's also the freedom factor. Even in some communist countries the people have a lot more freedom and a lot less intrusion into their personal lives.
private managed (as in with maid/security) villa with private pool $650/month in thailand. been here 8 years and love it, though these days i use it more as a base for asian life in general as i like to travel around a lot. hate europe, hate US, haven't been to south america, gonna check out aus this year for a few months. my recommendations, sign the non-resident agreement in the uk, offshore all operations and enjoy your new tax free living off the grid. just pick somewhere hot with cheap beer and hot women 
Well, renting an office space in Singapore is even more expensive. An office space (for ONE person) in city area costs around $2.5k and above.
private managed (as in with maid/security) villa with private pool $650/month in thailand. been here 8 years and love it, though these days i use it more as a base for asian life in general as i like to travel around a lot. hate europe, hate US, haven't been to south america, gonna check out aus this year for a few months. my recommendations, sign the non-resident agreement in the uk, offshore all operations and enjoy your new tax free living off the grid. just pick somewhere hot with cheap beer and hot women
With guys like you outin' Thailand like this it won't be long before all the ballers move over and drive prices up. Just remember - trannies everywhere and you can't tell the difference until it is too late (that should keep a few away).
private managed (as in with maid/security) villa with private pool $650/month in thailand. been here 8 years and love it, though these days i use it more as a base for asian life in general as i like to travel around a lot. hate europe, hate US, haven't been to south america, gonna check out aus this year for a few months. my recommendations, sign the non-resident agreement in the uk, offshore all operations and enjoy your new tax free living off the grid. just pick somewhere hot with cheap beer and hot women
When you sign the non-res agreement... can you return permanently a few years down the line? Will this result in a fat tax bill? :s
What taxes do most people pay in Thailand? Are they using HK as there tax base?
Cheers all!
Not sure you really want to set up a company in Thailand. As a foreigner you get ripped. To start with, you need to register 2 million baht of capital (i.e. put nearly US$70,000 in a Thai bank) in order to get yourself a work permit so you can work at your own business. In addition, for each work permit you must also have 4 Thai nationals working for you, or at least shown on your company roster and registered for tax withholding. You also need a bunch of funny articles of incorporation that name 7 shareholders, a registered Thai accountant, and various other permits and fees that you don't want to do yourself so you pay an attorney. It all adds up to about another 200,000 baht. You might also end up blowing some money on a location since your biz must have an address that is for commercial purposes and you usually can't get away with using your home as your biz location.
IMHO...it is f'ing stupid.
I've heard that Malaysia has very favorable terms for a foreigner to get a biz started. Don't know the details, maybe someone will comment.
IMHO...it is f'ing stupid.
I've heard that Malaysia has very favorable terms for a foreigner to get a biz started. Don't know the details, maybe someone will comment.