I think for a US citizen, a good strategy would be as follows:
1. Move to Canada
Canada is very pro rich-immigrant, like all those Chinese buying property in Vancouver. Once there, get permanent residency by investment. However, currently the investment or entrepreneur program applications are backed up from all the Chinese, so a new option (startup visa) may be a good strategy. All you need to do is convince some VC to invest 100,000 or something into your "startup". I think a way around this would be to guarantee it or pay them juice. If this fails, look into bribing someone into giving you a fake job in Canada.
http://www.cic.gc.ca/english/immigrate/b...gn=generic
2. Live there for three years
The good thing in this is that in Canada, foreign derived income is not taxed for 5 years. So basically they are paying you to become a citizen. Of course you still got US tax liability during this time, but this process is not overnight (alt. buy St. Kitts passport, renounce US, live in Canada, but have to get visas everytime you want to enter US)
3. Apply and recieve citizenship
If you're english (or french) speaking and financially independant, this is feasible.
4. Establish residency in tax haven
Either Panama or DR or Uruguay, but if looking for first world residency, go to Gibraltar. Englsih speaking, stable protectorate of UK, has HNWI program. http://www.google.com/url?sa=t&rct=j&q=g...5248,d.dmg
Downside is 30,000 EUR in fixed "tax" plus you gotta rent a "luxury apartment". Reason I suggest it is there is no physical residency requirement, plus you dont have to invest any capital (ex. Andorra requries 400,000 EUR Real estate purchase). Plus Gibraltar has airport. Then again, Panama requires only like $5,000 bank desposit. Gibraltar is just the a good first world residence.
5. Renounce US Citizenship
Because you have Canadian passport, you can reeneter the USA without visa. 121 days/yr limit to avoid US taxes, plus if US govt becomes more controlling and decides to not issue visas to tax exiles, you are in good shape.
Besides ability to easily reenter USA, Canadian passport is a first world passport and will help you out in certain situations (and with less heat than a USA one). http://en.wikipedia.org/wiki/Canadians_of_convenience
These lebanese "canadians" were able to get Canadian military to save their asses, even though they don't live in Canada and pay not taxes there.
Funny how so many lefties want to move to Canada when a rightwinger is president; I view Canada as a semi-tax haven, where one can the benefits of western citizenship without the taxes or surveillance.
1. Move to Canada
Canada is very pro rich-immigrant, like all those Chinese buying property in Vancouver. Once there, get permanent residency by investment. However, currently the investment or entrepreneur program applications are backed up from all the Chinese, so a new option (startup visa) may be a good strategy. All you need to do is convince some VC to invest 100,000 or something into your "startup". I think a way around this would be to guarantee it or pay them juice. If this fails, look into bribing someone into giving you a fake job in Canada.
http://www.cic.gc.ca/english/immigrate/b...gn=generic
2. Live there for three years
The good thing in this is that in Canada, foreign derived income is not taxed for 5 years. So basically they are paying you to become a citizen. Of course you still got US tax liability during this time, but this process is not overnight (alt. buy St. Kitts passport, renounce US, live in Canada, but have to get visas everytime you want to enter US)
3. Apply and recieve citizenship
If you're english (or french) speaking and financially independant, this is feasible.
4. Establish residency in tax haven
Either Panama or DR or Uruguay, but if looking for first world residency, go to Gibraltar. Englsih speaking, stable protectorate of UK, has HNWI program. http://www.google.com/url?sa=t&rct=j&q=g...5248,d.dmg
Downside is 30,000 EUR in fixed "tax" plus you gotta rent a "luxury apartment". Reason I suggest it is there is no physical residency requirement, plus you dont have to invest any capital (ex. Andorra requries 400,000 EUR Real estate purchase). Plus Gibraltar has airport. Then again, Panama requires only like $5,000 bank desposit. Gibraltar is just the a good first world residence.
5. Renounce US Citizenship
Because you have Canadian passport, you can reeneter the USA without visa. 121 days/yr limit to avoid US taxes, plus if US govt becomes more controlling and decides to not issue visas to tax exiles, you are in good shape.
Besides ability to easily reenter USA, Canadian passport is a first world passport and will help you out in certain situations (and with less heat than a USA one). http://en.wikipedia.org/wiki/Canadians_of_convenience
These lebanese "canadians" were able to get Canadian military to save their asses, even though they don't live in Canada and pay not taxes there.
Funny how so many lefties want to move to Canada when a rightwinger is president; I view Canada as a semi-tax haven, where one can the benefits of western citizenship without the taxes or surveillance.