Canada.

Hmmmm.... Kelowna BC is the place to be. Set yourself up right and taxes are not a problem. Corporations pay just 17% tax on the first $300,000 and as long as you only pay yourself in dividends for personal cash, say $35,000 or $70,000 per couple then that is all tax free. If you are over the $300 k per year mark then set up a second corp in Belize for that.

I'm also from Kelowna. The only problem with this approach is that you're not officially reporting income to the Canadian government, which can cause problems if you're applying for car loans/mortgages/etc am I right? Because dividends don't count as earnings.
 


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Why did you choose to settle down in Thailand?...

Yeah, Kiopa_Matt, I'm wondering the same thing. I've been living in Thailand for 10 years now and plan to never go back to the U.S. But although I visited a lot of other places in the world I did not live there long term like you did.

I guess one obvious reason Thailand>Malta long term is that it's not an island where you will eventually get bored - so much to do in the country and in the region. But curious about your other comparisons.
 
I'm also from Kelowna. The only problem with this approach is that you're not officially reporting income to the Canadian government, which can cause problems if you're applying for car loans/mortgages/etc am I right? Because dividends don't count as earnings.

Not sure about Canada, but Dividends sure is an "Earning" or an "Income". It just isn't taxed or taxed at a much lower rate in most of the countries. The Income head will be dividend income in your tax filing that is all. That is how most the Billionnaires and multi millionnaires have a lower tax rate even in the US.. eg: Mitt Romney (see: What's in Mitt Romney's tax return - Jan. 24, 2012)
 
Yeah, Kiopa_Matt, I'm wondering the same thing

Ummm, wasn't a conscious decision, actually. My dad used to work for Exxon (now retired), and was on an overseas assignment in Malaysia for a few years. I was sitting in Canada, getting a little bored and restless in the city, so booked a 5 week trip out to visit my parents. This was my 3rd or 4th trip to Asia, so I knew my way around a bit. That trip was back in 2009, and I still haven't made it back to Canada.

If I wasn't tied down, and had no strings, I highly doubt I'd be living here though. I've been all over the world, and there's definitely better places out there. Nonetheless, this is where the winds of life blew me, and where I've settled, and I'm happy to call this place home. And after settling here, and getting over all the phases of culture shock, I just can't see myself going back to a luxury condo in the downtown of some metropolis though. I'm happy here.

You know, I enjoy knowing and getting along with all my neighbors (even if that means I have 0 privacy), I enjoy going to the street market to pickup groceries instead of some impersonal 40,000sqft grocery store, I enjoy seeing life all over the streets when I'm out instead of the streets just being used as corridors to get from office A to office B, people aren't as caught up in themselves, are less judgmental, it's very peaceful and safe, and the list goes on. That, and I've let money get to my head before, and I've learned the hard way that's a very bad thing to do. Living here helps ensure that will never happen, and that I'll always stay grounded.

That, and it's simply more realistic here. When you're out having dinner with a bunch of people, you don't have to listen to bullshit like, "well, my daughter's school is calling it a Happy Holidays concert, not a Christmas concert. How outrageous!!!". Oh, for fuck sakes, if that's all you have to be complain about in life, then shut up, and be happy. You know, that type of ridiculous shit just doesn't exist here. People just relax, don't worry about much, and just enjoy the fact they're alive.

And it's not for the financial benefit, because I don't really believe there is any. I know some people say they "live like a king" for $300/month, but that's just ridiculous. We blow through about $3000/month, and our lives are fine, and we never go without, but I'd hardly call it living like a king.
 
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I've been calling Toronto home since 2007 (originally from Alberta which is the equivalent to Texas). I've also lived in Vancouver twice. Most of the pros/cons of these major cities have been covered. If you don't ski or swim, then I would compare living in Vancouver to dating a really hot chick who is super boring. If you are in your 20's or early 30's, Toronto has the most to offer if you seek city life (entertainment, bars, sports teams), diversity and a wannabe NYC type hustle. The cost of living is on the rise across Toronto (and most of Canada in general) and the quality of life is trending down thanks to inflation, a weakening global economy and government inefficiency. Expect to pay $1800-2000/month to rent a decent 1 bedroom condo in the downtown area, which is where all the action is. Downtown is pretty walkable and you can get away without a car, if you don't need to leave the city much and you don't mind the subway/street car. Toronto real estate continues to boom, in large part to a ton of foreign investment, which is keeping prices artificially high. We are overbuilding and I believe once interest rates start to rise (which have been suppressed for years now), the markets will become oversupplied and prices will drop. *bubble popping sound*

On the business side, thanks to the Canadian Small Business Deduction, I'm paying a corporate tax rate on active business income of ~16.5%. And if you have no other sources of earned income, as an example, you can pay yourself a $35,000 dividend and incur less than $500 in personal taxes. However, if your corporation isn't Canadian controlled (50%+1 of the owners must be Canadian residents) you won't qualify for this deduction. So If you aren't a Canadian resident, it's a whole different situation.

For the rest of you in Toronto, PM me as I'm going to kick start my neglected private affiliate meetups next month. We have a solid group of full time affiliates here and its a good networking opportunity.
 
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