Tax savings are a widespread concern. In general all of us want to save money where we can, especially when in more than one country one of the main expenses are payments to the state. For this, there are several ways, each with advantages and disadvantages. We will talk of the main ones in this article:
First, look for savings in your tax system. Many laws provide bonuses if we act in a certain way or follow a specific policy. This should be viewed as it is, but in many cases there are important and relatively simple savings. Sometimes our activity has a favorable taxation, but certainly this does not happen much.
Second, capital hiding. This is outdated, but you can try to hide capital in a foreign country. Every day is easier for us to be caught and if they do, that will be really expensive in most cases. Itself source of hours without sleep, with more and more maximalist information exchange agreements. I do not think this way too feasible today.
Third, offshoring activity. Certain activities can be done from another country where they have tax credits or tax is favorable. A typical case is the business of international services, which sometimes is billed in low-tax countries for savings.
Fourth, change our residence. Bring our house to a low-tax country. It is the most beneficial, but is also complicated. It implies carring out all our life elsewhere in the world, which will have advantages and disadvantages. The good news is that it is the most functional, the most reliable and the safest.
One thing that for many will be obvious, but we know that it is not for others, is the act of beliving that we are smarter than the tax department of any goverment. 90% of cases with serious problems with the goverment are because people who believed that their goverment was imbecile and made movements that are really terrible. Many times, the goverment is slow but relentless, this kind of operations must be done very carefully and with calm.