I'll start by saying I'm not currently in a bad financial situation. But the future is extra scary when considering the fact that in America you basically can buy a house cash and then lose the house in maybe 10 years when the property taxes have tripled and you can no longer afford to pay them.
I've traveled a lot of places but never paid much attention to foreign housing situations. Are there actually places where if you bought and outright own a home they couldn't take it from you if you hit financial ruin?
Videos
Are there hidden fees or other taxes to watch for in no-property-tax countries?
Do I still have to pay capital gains tax in countries with no property tax?
Are there personal income taxes in countries with no property tax?
Simply put, the reason why I'm asking this question is because when I finally pay off my rent on my house I want to own it for good and never have to worry about the possibility of losing it if I ever became bankrupt and lost money. So are there counties in the United States that choose to do away with property taxes altogether? I'm thinking somewhere in Minnesota since this is where I live, but anywhere in the country is fine.
What are considered the top contenders for countries that charge zero tax for someone who plans to live off stock investments/bank interest, and doesn't have a business?
I have heard of Dubai, but is that more suited to expats who are running some freelance business?
Are there other popular choices of countries?
If this is not the right subreddit, is there another one, or web forum with people who are interested in what I'm talking about?
About me:
I'm a 26-year-old newly graduated Software Engineer from Denmark (EU) with $30.000 saved up. For now, I don't have a wife or children, but that could change in the future.
I'm trying to decide which 0% (or low) tax country I want to become a tax resident in...
I want 0% or low taxes in the following categories:
Low income tax is important because for the first couple of years I'm planning to have income from a remote job (employer from Denmark/Switzerland or the US) and then I'm going to switch to freelancing.
Low corporate tax is important because my end goal is to set up a company.
Low capital gains tax is important because I'm investing in stocks, bonds, and later maybe real estate.
Low wealth & inheritance tax is important because I'm planning to save up a lot of money, and some will go to my future children.
But I have 2 problems with most places I find:
Most places require me to stay there 6 months a year to be a tax resident, but I would like to travel at least 9 months a year.
Most places require huge investments in real estate or similar, but I only have $30.000 saved up.
If the country requires me to stay there 6 months a year to be a tax resident, then these things would be nice:
Beautiful nature to explore
Good health-care
Good education system (Only relevant in 5-10 years if I have children by then)
Flights to my home country Denmark aren't too expensive or time-consuming (optional)
Climate without too much EXTREME heat (Only rarely above 30-35 Celcius/95 Fahrenheit)
My current plan:
Before I can get a remote job, I would like to live in a place with a high after-tax income, such as Switzerland, Qatar, Dubai, or maybe even my own country Denmark.
When I get a remote job, I would like low income tax and low capital gain tax. For example Bulgaria.
When I start a company I would like low corporate tax and low capital gain tax.
When I retire, I would like a low cost of living, low capital gains tax, low wealth tax, and low inheritance tax.
Which 0% tax (or low tax) countries would you recommend to me? And why?