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25-02-2011, 21:26
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#1
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Registered User
Join Date: Feb 2011
Posts: 4
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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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25-02-2011, 21:35
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#2
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Nearly an old salt
Join Date: Jun 2009
Location: Lefkas Marina ,Greece
Boat: Bavaria 36
Posts: 22,801
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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.
Dave
__________________
Interested in smart boat technology, networking and all things tech
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25-02-2011, 21:56
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#3
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Senior Cruiser

Join Date: Jan 2010
Location: PORTUGAL
Posts: 31,259
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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
__________________

You can't oppress a people for so many decades and have them say.. "I Love You.. ".
"It is better to die standing proud, than to live a lifetime on ones knees.."
Self Defence is no excuse for Genocide...
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25-02-2011, 22:02
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#4
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Registered User
Join Date: Feb 2011
Posts: 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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25-02-2011, 22:13
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#5
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Senior Cruiser

Join Date: Jan 2010
Location: PORTUGAL
Posts: 31,259
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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
__________________

You can't oppress a people for so many decades and have them say.. "I Love You.. ".
"It is better to die standing proud, than to live a lifetime on ones knees.."
Self Defence is no excuse for Genocide...
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25-02-2011, 22:17
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#6
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Registered User
Join Date: Feb 2011
Posts: 4
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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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25-02-2011, 22:20
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#7
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Senior Cruiser

Join Date: Jan 2010
Location: PORTUGAL
Posts: 31,259
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Re: Country of Residence of Cruisers?
Nathan... no worries mate... I'm just another ******* with boat no ones gonna get rich off.... unlike some...
__________________

You can't oppress a people for so many decades and have them say.. "I Love You.. ".
"It is better to die standing proud, than to live a lifetime on ones knees.."
Self Defence is no excuse for Genocide...
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25-02-2011, 22:21
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#8
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CF Adviser
Join Date: Dec 2008
Location: sausalito
Boat: 14 meter sloop
Posts: 7,260
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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.
__________________
cruising is entirely about showing up--in boat shoes.
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25-02-2011, 22:28
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#9
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Senior Cruiser

Join Date: Jan 2010
Location: PORTUGAL
Posts: 31,259
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Re: Country of Residence of Cruisers?
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.
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Bash.... sorry mate but you wanna pay taxes... thank you... me.. catch me if you can..
__________________

You can't oppress a people for so many decades and have them say.. "I Love You.. ".
"It is better to die standing proud, than to live a lifetime on ones knees.."
Self Defence is no excuse for Genocide...
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25-02-2011, 22:29
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#10
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always in motion is the future

Join Date: Feb 2009
Location: in paradise
Boat: Sundeer 64
Posts: 20,093
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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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25-02-2011, 22:35
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#11
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Senior Cruiser

Join Date: Mar 2010
Location: gettin naughty on the beach in cornwall
Boat: 63 custom alloy sloop,macwester26,prout snowgoose 37 elite catamaran!
Posts: 10,598
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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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25-02-2011, 22:43
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#12
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Senior Cruiser

Join Date: Jan 2010
Location: PORTUGAL
Posts: 31,259
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Re: Country of Residence of Cruisers?
Quote:
Originally Posted by atoll
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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Don't carry your cross here mate... you chose it...
Credit counts for nothing... or have you not noticed lately...
__________________

You can't oppress a people for so many decades and have them say.. "I Love You.. ".
"It is better to die standing proud, than to live a lifetime on ones knees.."
Self Defence is no excuse for Genocide...
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25-02-2011, 22:47
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#13
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Nearly an old salt
Join Date: Jun 2009
Location: Lefkas Marina ,Greece
Boat: Bavaria 36
Posts: 22,801
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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.
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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.
Dave
__________________
Interested in smart boat technology, networking and all things tech
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25-02-2011, 22:50
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#14
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Registered User
Join Date: Jun 2010
Location: Bay of Islands, New Zealand
Boat: Mason 53
Posts: 652
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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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25-02-2011, 22:55
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#15
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Senior Cruiser

Join Date: Jan 2010
Location: PORTUGAL
Posts: 31,259
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Re: Country of Residence of Cruisers?
Goboatingnow.... if a country taxed me.... I'd be rich in back tax/benefits I've never claimed...
__________________

You can't oppress a people for so many decades and have them say.. "I Love You.. ".
"It is better to die standing proud, than to live a lifetime on ones knees.."
Self Defence is no excuse for Genocide...
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