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Old 25-02-2011, 21:26   #1
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Country of Residence of Cruisers ?

I'm sure that this comes up all the time, but if one lives aboard thier yacht and travels World, what determines their country of residence? I am trying to find out info (mainly for tax implications), but am wondering where ones residency lies whilst cruising the worlds oceans?
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Old 25-02-2011, 21:35   #2
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Normally you retain the residency, certainly tax residency of your original country. It is quite difficult and lengthly before you are not considered a tax residence. Especially if you retain income ( interest from savings etc) or are still regarded as " established" in that country.

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Old 25-02-2011, 21:56   #3
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pirate Re: Country of Residence of Cruisers?

Or alternativly you dont give a **** and dont pay tax to anyone... how dya wanna live... its that simple....
Sorry Dave... bored with kissing ass
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Old 25-02-2011, 22:02   #4
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Re: Country of Residence of Cruisers?

Oh I'm hearing you Boatman61.
Just wondered how it all fits together that's all, whether or not Governments consider a yacht drifting through all different countries as your Primary Residence.
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Old 25-02-2011, 22:13   #5
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pirate Re: Country of Residence of Cruisers?

Nathan... your just another guy on a boat... you got the money to pay the dues...
"Hello and welcome.." you aint... "P*#* Off... Lifes that simple
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Old 25-02-2011, 22:17   #6
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Re: Country of Residence of Cruisers?

Cheers Boatman,

If only more people saw it as black and white as you. I admire your outlook.
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Old 25-02-2011, 22:20   #7
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pirate Re: Country of Residence of Cruisers?

Nathan... no worries mate... I'm just another ******* with boat no ones gonna get rich off.... unlike some...
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Old 25-02-2011, 22:21   #8
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Re: Country of Residence of Cruisers?

If you're talking about income taxes, you pay taxes according to where you earn income, not where you reside. When I earn money in country X, I pay taxes to country X. It's entirely possible to pay taxes in multiple countries at any one point.
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Old 25-02-2011, 22:28   #9
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pirate Re: Country of Residence of Cruisers?

Quote:
Originally Posted by Bash View Post
If you're talking about income taxes, you pay taxes according to where you earn income, not where you reside. When I earn money in country X, I pay taxes to country X. It's entirely possible to pay taxes in multiple countries at any one point.
Bash.... sorry mate but you wanna pay taxes... thank you... me.. catch me if you can..
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Old 25-02-2011, 22:29   #10
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Re: Country of Residence of Cruisers?

I emigrated from Holland and never immigrated anywhere... same status as a gipsy and one the authorities don't know how to handle (= good).

Emigrated, retired, no income from work means no more tax for Dutch citizens

cheers,
Nick.
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Old 25-02-2011, 22:35   #11
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Re: Country of Residence of Cruisers?

biggest problem,for long term cruisers who return to the"real world" is getting a credit history/rating,should you want to buy a house and get a mortgage,even if you have pot loads of cash from the sale of your yacht........

in that respect it is worth keeping some sort of credit history on the ten year cruise
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Old 25-02-2011, 22:43   #12
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pirate Re: Country of Residence of Cruisers?

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biggest problem,for long term cruisers who return to the"real world" is getting a credit history/rating,should you want to buy a house and get a mortgage,even if you have pot loads of cash from the sale of your yacht........

in that respect it is worth keeping some sort of credit history on the ten year cruise
Don't carry your cross here mate... you chose it...
Credit counts for nothing... or have you not noticed lately...
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Old 25-02-2011, 22:47   #13
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Quote:
Originally Posted by Bash
If you're talking about income taxes, you pay taxes according to where you earn income, not where you reside. When I earn money in country X, I pay taxes to country X. It's entirely possible to pay taxes in multiple countries at any one point.
That's not true at all for example US citizens pay tax on all worldwide earnings in most countries in the absence of double taxation agreements you'll pay tax on all worldwide earnings. It's actually possible to end up paying the tax twice If your not careful.

And boatman good on yeah, it only works if you have no income. But it can take up to 5 years to become a non tax resident in some countries. Merely not paying an taxes doesn't remove that obligation. For example countries with wealth taxes on boats dint absolve you of such taxes merely because your now onboard.

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Old 25-02-2011, 22:50   #14
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Re: Country of Residence of Cruisers?

G'day, mate. Here's what I did as a U.S. citizen at the time I left many years ago, I wrote a letter to the former state I lived in and declared that I was no longer "domiciled" there and they could find me on the ocean at any time should they have any questions. Of coarse, since I am still a U.S. citizen, I am still legally responsible for any appropriate federal income taxes. Cheers.
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Old 25-02-2011, 22:55   #15
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pirate Re: Country of Residence of Cruisers?

Goboatingnow.... if a country taxed me.... I'd be rich in back tax/benefits I've never claimed...
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