Live Tax-free As A Foreign Resident In Belize…The Risks Of Forex Investing Overseas
“By the way I am really enjoying receiving your information. I have found it very informative and well written! Thanks.”
— Mark G., Panama
No, it’s not that Belize will tax you as an American foreign resident. It’s that Uncle Sam will tax you as an American no matter where you’re resident.
The United States is one of only a few countries in the world that taxes its citizens on their worldwide income no matter where they live. That is to say, as an American abroad, you never lose your obligation to the U.S. Internal Revenue Service. When you take up residence elsewhere, therefore, you have two tax obligations (the one to the IRS that you never lose and a second to the new jurisdiction where you’ve become resident).
This is not to say that you pay double the taxes. It is possible to organize your financial affairs as an American abroad to reduce your tax burden significantly, even to live tax-free. Belize is one good choice if your agenda is tax mitigation. Panama is another.
“I have lived and invested overseas for many years, and I can’t understand why people can’t respond to forex investment opportunities with caution. This is exactly how people with money to invest got into the Maddox and Stanford schemes–no caution and wanting to believe too-good-to-be-believe promises.
“If you invest in real estate with an educated view and judgment based on understanding that country, at least you will not lose it all.
“Investing overseas, one should be prepared to participate in the investment, not just sit back and take the return. If you approach it that way, you may well end up with no return.”
— Bonnie R., United States