[Tax saving] Summary of knowledge that people who want to move overseas to a country with low tax should know 　-2022 latest-

By moving to a country with low taxes (tax havens), you can get  a big tax saving effect.

What is a tax haven?

Refers to countries and regions with low taxes such as corporate tax and income tax.

Apparently, it is scattered in small island nations and European regions.

Countries with low taxes set low taxes in order to attract rich people from other countries.

Taxes are often set low because areas  that are difficult to develop in their own country develop.

How much is the overseas tax?

Corporate tax, consumption tax, income tax, and inheritance tax are summarized by country from the latest data in 2022.

In no particular order, I picked up 1st and 2nd place, as well as other Asian countries that are popular destinations for emigration from Japan.

【Corporate tax】

Corporate tax is the highest in Japan in Asia. 14th in the world.

It's a number that we are not very happy with.

The first place is France with 32.02%. Second place is Mexico, Portugal and Australia with 30%.

Hong Kong is about half of Japan.

【Consumption tax】

※1・・There is no "consumption tax" in the United States, but there is a tax called  "retail sales tax".

Retail sales tax varies by state and city, with 10.25% in Santa Monica, Los Angeles, and 0% in Oregon.

You can think of it as equivalent to the consumption tax.

Hungary, which ranks first, has a tax rate of 27%, and most countries in Europe have a consumption tax rate of around 20%.

Second place Croatia, Sweden, Denmark and Norway are 25%.

The 10% consumption tax in Japan is not so high.

【Income tax】

Japan is the highest in Asia, but there is a 28% difference compared to Hong Kong.

Sweden is number one with 60%, and Japan is the world's second-largest taxable country (55.95%).

※This is just the maximum tax rate.

Only 14,000 people, 0.3% of the total, pay the highest tax rate.

However, taxes are still high.

【Inheritance tax】

※1・・10% tax is levied on the portion over 100 million baht. If you do not have assets in excess of 100 million baht, you will not be subject to inheritance tax.

※2・・Inheritance tax is only relevant to some wealthy people in Thailand and the United States.

By the way, the 1st rank is 14.19% in the UK and 9.53% in the 2nd place in Japan.

Things to do before moving to a country with low taxes

ここまでLooking at the tax comparisons so far, you may have felt the benefits of moving to a country with low taxes (tax havens).

However, when it comes to migration, there are some points you need to know.

1. Difficult to get a visa

2. Living costs may be high

3. Property in Japan is subject to inheritance tax

No.1 in the ranking of countries Japanese wants to move to for 13 consecutive years! Costs for obtaining a Malaysian emigration visa

Obtaining permanent residence is quite difficult unless you are an investor or spouse in Malaysia, so you will generally take MM2H

MM2H

Malaysia My 2ND Home Program is the official name.

MM2H is a long stay visa (up to 10 years, but can be renewed)　 ※Permanent residence cannot be obtained

※Under 50 years old

・Property certificate of at least 500,000 ringgit (about 13 million yen)

・Income certificate of 10,000 ringgit (about 260,000 yen) per month

※50 years old and younger

・Property certificate of at least 350,000 ringgit (about 9.1 million yen)

・Income certificate of 10,000 ringgit (about 260,000 yen) per month

Country rankings that make it easy to move overseas

No.1：Philippines

Philippines is easier to get a visa compare to other countries.

・Marriage visa

・Retirement visa（SRRV）

・Investor visa（SIRV）

・Quarter visa

・Marriage visa・・You can apply at. You can live permanently in the Philippines unless you are divorced.

・Retirement visa・・You can apply from 35 years old and over

SRRV CLASSIC、There are three visas: SRRV CLASSIC, SRRV SMILE and SRRV HUMAN TOUCH.

【What all three visas have in common】

Workable (obtaining a foreigner's work permit)

Annual membership fee of $ 360 required

Only those who are 35 years old or older, have no criminal record, and have passed a medical test can apply.

【Different for 3 visas】

・SRRV CLASSIC・・Income proof is $ 50,000 for people aged 35-49, $ 20,000 for people aged 50 without a pension, and $ 10,000 for people with a pension.

※Deposits can be converted into investments

・SRRV SMILE・・$ 20,000　※Deposits cannot be converted into investments

・SRRV HUMAN TOUCH・・Only for those who need long-term care and medical treatment

・Investor visa（SIRV）・・75,000 Needs renewal annually. No age limit

・Quarter visa

A deposit of $ 50,000 is required, but you can withdraw it freely after applying.

・No age limit. Work is also possible.

・The visa has the loosest conditions, but it seems to be very hard to apply, and many people get it through a dedicated agent, but

agent referral fee is really high (about 1 million yen or more)

It seems that there are many fraudulent damages, so be careful when choosing an agent

The power of Filipino tourist visas

Length of stay: 59 days

※You can stay for up to 3 years in a row by repeating the extension.

※There is an extension procedure fee every month, but it is not a big amount (4,340 pesos in many months)

Once you leave from the Philippines, it will be reset, so you can repeat it forever.

※Not able to work

Working Visa

Renewal procedure required in 1 year, 2 years, 3 years

Acquisition conditions: Obtaining a work permit to work locally, a letter of recommendation from the company is required

It is suggested that the Philippines may become stricter regarding visas in the future, so

If you are interested in moving to the Philippines, take action now.

Sorry for the long article. ..

Since the article has become long, I will summarize the ranking after the second in the next article.

Regards,

hiro