This is a slight misunderstanding. The "perpetual traveller manifesto" I've mentioned was a kind of early guide to what you do: set up lifestyle and taxes optimally, not trying to avoid taxes in such a strange manner. It was something like " earn where the prices are high, invest where there's no capital gain tax, spend where there's no VAT, live where you money buys the most"
@@MichaelRosmer We need help to dig a tunnel to get out of England at the moment!! We are collating our questions to ask you on a call. I have been researching this subject for a very long time (I've even read WG Hill books 15 years ago - yes I know out of date) but realise we need to see behind the curtain on aspects not openly available on the internet. Perhaps a subject could be how a client is managed through the process by your organisation? I don't need 'secrets' - but how you work with a typical client, the pitfalls, possible issues? It must be VERY difficult thinking up subjects daily!!
3 months in Australia, 5 months in Mexico, 3 months in the EU and 1 month in the Philippines. Year 1. 3 months in New Zealand, 5 months in Panama, 3 months in the EU, 1 month in Thailand year 2. 5 months in England, 3 months in Colombia, 3 months in the EU, 1 month in Vietnam, year 3. 5 months in Canada, 3 months in Chile, 3 months in the EU, 1 month in Cambodia, year 4. In year 5 repeat from year 1 while living in rentals the whole time. You get to spend time each year in first language English speaking country, you get a good taste of Latin America, you get a good taste of Europe each year while bouncing around the Shengen region. You get a good taste of Southeast Asia each year. If you are an American this would be the plan. If you are from any of the other Anglo countries you skip them and replace with the US. If you have established tax residency elsewhere severing the ties in one of those Anglo countries, maybe you limit your time spent there a bit more. You can also add year five 3 months in Ireland, 3 months in Argentina, 3 months in the Shengen, and 3 months in Malaysia. You could also add a year six to the mix if you aren't American, 90 days in the US, Canadians could make that a bit longer and go to maybe 4 or 5 months, but why risk the US tax trap, 3 months in Peru or maybe 5 depending on your citizenship & visa free travel there, 3 months in the Shengen, of course always be in different countries in Europe. I mean Italy one year, Spain another, Portugal another, Slovenia, Czeckia, Germany, Denmark, with so many to choose from staying out of each individual country's tax net should be avoidable, maybe a month in Bali, Indonesia in year 6. Also maybe more time in SEA and less time in LA, maybe less time in EU & more time in SEA. Maybe less time in Anglo countries and more in Mercosur, or the Caribbean. I think if you do slow travel correctly you can get good access each year to native English speaking countries, good access to the EU or Europe in general and good access to Asia and Latin America every year without running out of countries or ever even needing a visa, or at the most spending very little on visas mostly in SEA if you include it in your itinerary as a person with a western passport or a passport that has good access to Canada, Australia, New Zealand and the USA, ie someone probably watching an English language RUclips channel on this subject. Hell when it comes down to it you have a few other English first language countries like Jamaica, St Kitts & Nevis, Antigua & Barbuda, the Bahamas, St Lucia, Barbados, Grenada, the BVI, the Caymans, Turks & Caicos, and Anguilla you can add to the mix as well. I mean if you speak English & Spanish you can go pretty far with this plan because Spanish opens up a lot of space in Latin America and Spain while English gives you the Anglosphere, but also a fair portion of Europe and Asia too. I mean more people in the Philippines speak English than speak English in the UK. That is not to say they all speak it as well as UK English speakers, or in as high a percentage, but more actual human beings speak English in the Philippines than in England.
@@Diego-kv1xl I think given what we have seen transpire in the last few years you pay attention to the news & see it coming, so you can plan accordingly and go to a country unlikely to cramp your travel freedoms or destroy your tax strategy.
Thanks man. Could a Canadian perpetual traveller continue to invest in Canadian stocks through Canadian brokers in unregistered accounts and not pay a withholding tax? What about registered (ie TFSA/RRSP)? I know there is a 1% penalty per month for non residents, and a cessation of increased contribution room. But if I'm out of Canada for a few years travelling around, have some secondary ties and intent to return, and no other residency, can I just continue to pay all my online source income tax to Canada, and then invest like a resident? I think a perpetual traveller would be considered a "deemed resident" according to the CRA, but I'm having a hard time find out if perpetual travellers and/or deemed residents can invest like factual residents. I may have accidentally taken residency in a high tax EU country IRL 😅, but my question is assuming I am not a resident anywhere else.
Very hard to be a perpetual traveler non resident in Canada. You need to do a clean break cutting pretty much all your ties. Anyone can invest in Canada there's no withholding on the stocks only the dividends. But that's not through registered accounts.
I was told by a Canadian tax firm specialized in international taxes (Trowbridge) that once you become a tax resident somewhere else and file your final tax return in Canada, considering everything is done properly, after that you're 'off the hook' as far as the CRA goes. Technically you could become resident of nowhere the following year(s). In your experience, is that the case? Cheers mate, great content as always.
Thanks! So, it depends. Mostly yes IF and this is a big if, you don't move back to Canada or at least don't move back for a significant number of years. The reason for this is they don't check up on you each year or at all once you're out. You are the one that triggers them to look again by reestablishing residency there or having local source income. The danger is let's say you move out and do your final return and everything is good. You do that for a year before spending the next year on a sojourn and then after that year you move back to Canada you're at serious risk of being in trouble. By contrast say you're gone for 7 years taking up residence at certain times in various places before moving on then afterwards moving back to Canada you're likely fine.
Even though I like the idea of this, I don't find it as practical. I prefer to have an actual place of residence, the address, bank accounts, local ties, etc.
Couldn't you have local ties in 6 different locales for six different 2 month zones? (6 because a 2 month stay would likely be even safer than a 3 month)
I look forward to the day when someone with a St. Kittian Citizenship & a Starlink connection on their Cayman Islands flagged Yacht runs the US LLC owned by their Laubuan Holding Company from the deck of their vessel perpetually out to sea in international waters.
This is a slight misunderstanding. The "perpetual traveller manifesto" I've mentioned was a kind of early guide to what you do: set up lifestyle and taxes optimally, not trying to avoid taxes in such a strange manner.
It was something like " earn where the prices are high, invest where there's no capital gain tax, spend where there's no VAT, live where you money buys the most"
Very clear. THanks !
VERY timely, VERY useful! Thank you
You're welcome! Anything else you'd like to see?
@@MichaelRosmer We need help to dig a tunnel to get out of England at the moment!! We are collating our questions to ask you on a call. I have been researching this subject for a very long time (I've even read WG Hill books 15 years ago - yes I know out of date) but realise we need to see behind the curtain on aspects not openly available on the internet. Perhaps a subject could be how a client is managed through the process by your organisation? I don't need 'secrets' - but how you work with a typical client, the pitfalls, possible issues? It must be VERY difficult thinking up subjects daily!!
@@tinglestingles thanks for the suggestion
@@MichaelRosmer And... how to be a 'good' client, what speeds the process, you're busy, I'm busy but here are 5 things to get residency quickly...
@@tinglestingles great suggestions thanks! I'll see what I can put together
3 months in Australia, 5 months in Mexico, 3 months in the EU and 1 month in the Philippines. Year 1. 3 months in New Zealand, 5 months in Panama, 3 months in the EU, 1 month in Thailand year 2. 5 months in England, 3 months in Colombia, 3 months in the EU, 1 month in Vietnam, year 3. 5 months in Canada, 3 months in Chile, 3 months in the EU, 1 month in Cambodia, year 4. In year 5 repeat from year 1 while living in rentals the whole time. You get to spend time each year in first language English speaking country, you get a good taste of Latin America, you get a good taste of Europe each year while bouncing around the Shengen region. You get a good taste of Southeast Asia each year. If you are an American this would be the plan. If you are from any of the other Anglo countries you skip them and replace with the US. If you have established tax residency elsewhere severing the ties in one of those Anglo countries, maybe you limit your time spent there a bit more. You can also add year five 3 months in Ireland, 3 months in Argentina, 3 months in the Shengen, and 3 months in Malaysia. You could also add a year six to the mix if you aren't American, 90 days in the US, Canadians could make that a bit longer and go to maybe 4 or 5 months, but why risk the US tax trap, 3 months in Peru or maybe 5 depending on your citizenship & visa free travel there, 3 months in the Shengen, of course always be in different countries in Europe. I mean Italy one year, Spain another, Portugal another, Slovenia, Czeckia, Germany, Denmark, with so many to choose from staying out of each individual country's tax net should be avoidable, maybe a month in Bali, Indonesia in year 6. Also maybe more time in SEA and less time in LA, maybe less time in EU & more time in SEA. Maybe less time in Anglo countries and more in Mercosur, or the Caribbean. I think if you do slow travel correctly you can get good access each year to native English speaking countries, good access to the EU or Europe in general and good access to Asia and Latin America every year without running out of countries or ever even needing a visa, or at the most spending very little on visas mostly in SEA if you include it in your itinerary as a person with a western passport or a passport that has good access to Canada, Australia, New Zealand and the USA, ie someone probably watching an English language RUclips channel on this subject.
Hell when it comes down to it you have a few other English first language countries like Jamaica, St Kitts & Nevis, Antigua & Barbuda, the Bahamas, St Lucia, Barbados, Grenada, the BVI, the Caymans, Turks & Caicos, and Anguilla you can add to the mix as well. I mean if you speak English & Spanish you can go pretty far with this plan because Spanish opens up a lot of space in Latin America and Spain while English gives you the Anglosphere, but also a fair portion of Europe and Asia too. I mean more people in the Philippines speak English than speak English in the UK. That is not to say they all speak it as well as UK English speakers, or in as high a percentage, but more actual human beings speak English in the Philippines than in England.
but what if you got stuck in Australia?
@@Diego-kv1xl I think given what we have seen transpire in the last few years you pay attention to the news & see it coming, so you can plan accordingly and go to a country unlikely to cramp your travel freedoms or destroy your tax strategy.
Great post and idea
I love that he is always high. Happy 4/20
Thanks man. Could a Canadian perpetual traveller continue to invest in Canadian stocks through Canadian brokers in unregistered accounts and not pay a withholding tax? What about registered (ie TFSA/RRSP)? I know there is a 1% penalty per month for non residents, and a cessation of increased contribution room. But if I'm out of Canada for a few years travelling around, have some secondary ties and intent to return, and no other residency, can I just continue to pay all my online source income tax to Canada, and then invest like a resident? I think a perpetual traveller would be considered a "deemed resident" according to the CRA, but I'm having a hard time find out if perpetual travellers and/or deemed residents can invest like factual residents. I may have accidentally taken residency in a high tax EU country IRL 😅, but my question is assuming I am not a resident anywhere else.
Very hard to be a perpetual traveler non resident in Canada. You need to do a clean break cutting pretty much all your ties.
Anyone can invest in Canada there's no withholding on the stocks only the dividends. But that's not through registered accounts.
I was told by a Canadian tax firm specialized in international taxes (Trowbridge) that once you become a tax resident somewhere else and file your final tax return in Canada, considering everything is done properly, after that you're 'off the hook' as far as the CRA goes. Technically you could become resident of nowhere the following year(s). In your experience, is that the case? Cheers mate, great content as always.
Thanks!
So, it depends. Mostly yes IF and this is a big if, you don't move back to Canada or at least don't move back for a significant number of years.
The reason for this is they don't check up on you each year or at all once you're out. You are the one that triggers them to look again by reestablishing residency there or having local source income.
The danger is let's say you move out and do your final return and everything is good. You do that for a year before spending the next year on a sojourn and then after that year you move back to Canada you're at serious risk of being in trouble.
By contrast say you're gone for 7 years taking up residence at certain times in various places before moving on then afterwards moving back to Canada you're likely fine.
@@MichaelRosmer thanks for sharing!
Even though I like the idea of this, I don't find it as practical. I prefer to have an actual place of residence, the address, bank accounts, local ties, etc.
Couldn't you have local ties in 6 different locales for six different 2 month zones?
(6 because a 2 month stay would likely be even safer than a 3 month)
I’m very lucky to not be an American. 😬🤐
Haha so funny that's how we talk these days when for decades it was the aspiration of much of the planet
I'm trying to be Un-American soon!
Extreme weather and the constant need for a car is driving me away in two years.
I look forward to the day when someone with a St. Kittian Citizenship & a Starlink connection on their Cayman Islands flagged Yacht runs the US LLC owned by their Laubuan Holding Company from the deck of their vessel perpetually out to sea in international waters.
Won't really help a US Citizen though... International waters count as in the USA according to the FEIE
@@TC-yx1qt you can own a us LLC also as German or so :D
@@TC-yx1qt what part of St. Kittian citizenship did you miss😏.