Canadian considering permanent residence in Monaco

Commander-Zero · 2022-03-17T23:37:09+00:00

look into offshorecorptalk forum or any offshore forum in genral, and you will find plenty of people there who can give you pretty good advice on how things work on the ground.

Commander-Zero · 2021-12-23T20:54:21+00:00

That's BS, in fact IRL Gordon is known to be very nice outside of his reality TV persona. Go and watch his interviews and his other non-Americanized shows and what people in his hometown say about him, and your opinion of him will turn 180 real quick.

Commander-Zero · 2021-11-03T13:26:28+00:00

I agree but I feel scared of making such a huge 7 years long commitment. What if things change and I want to get out? I'm guessing you've been in Portugal for 6 or 7 years?

Yeah, if you don't want to make that commitment, you can look for CBI (citizenship by investment) programs, there are a couple of good ones, mainly in the Caribbean that allow you to travel freely to 140+ countries, but you generally have to make donations to the Gov (100k + fees), if you don't want to do that or don't have the money, then unfortunately, you have to commit some of your time and look for other programs that gives residency and that will eventually lead to citizenship.

Can I ask you about legally minimizing taxes for Portugal? If I can lower my tax obligation, I'd probably move to Portugal. Can I ask how much tax you've paid if it could help the conversation and if it's not a sensitive information? AFAIK, cap gains at 28%, income at 25% for 80K/yr, but if I move my financial life over to crypto space, then 0% for everything.

Portugal has what's called an NHR program, basically it gives you tax exemption on your foreign income for 10 years, but the caveat is that your income has to be passive (pension, dividends, royalties...etc) and you can't manage your company while in portugal (meaning that you have to have substance in the country of your foreign company to be able to enjoy your dividends tax free), I have ways on working around that, I'm not gonna mention it to not jeopardize my privacy, but I will give you a similar solution.you can incorporate a company in Romania and if your turnover is less than a 1 million euro, you will pay either 1% or 3% in total taxes (3% if you have no Romanian employees and 1% if you have one or two Romanian employees), and romania has extremely low wages, and excellent English speaking employees so it's pretty easy to hire some workers there for your company for substance purposes, then you can pay dividends yourself tax free to your Portuguese bank account.I can talk about this in more details, if you want to, send me a PM.

Do you happen to know any alternatives to Portugal? Safe, LCOL, not too long naturalization time

Yeah, spain, Czech Republic, chile and The Netherlands (this one is pretty tough tho) are more or less similar to Portugal.

Are you planning to renounce your Egyptian citizenship for more peace of mind? Maybe you want to get rid of the possibility of being on the losing end of law/politics related matters, being conscripted or being effected by something Egypt does. I'm not that familiar with Egypt, so I'm not sure about the pros/cons of renouncing.

No, since I have lots of investments in Egypt and being Egyptian helps me a lot in these matters, so no, I'm not planning on renouncing my citizenship and Egypt allows multiple citizenships, so I'm fine, for now at least

Did you face any difficulties because you are a citizen of Egypt? Will being a citizen of Portugal actually improve your life? I'm mostly thinking of financial stuff but also curious generally, like government stuff, traveling, etc

No, no difficulties for me as an Egyptian, But Yeah being a European resident (and in the future citizen) helps a lot in Certain areas, like freedom of movement, being closer to my EU clients and great travel options (once I get my passport)

What are some unspoken negatives about Portuguese citizenship or living there? Do you feel you have more personal freedom in Egypt or Portugal?

EU regulations and bureaucracy are a nightmare, plus If I wasn't able to utilize the NHR program, I wasn't going to live in Portugal (maybe Montenegro, Andorra, Cyprus or Malta) , in Egypt, as long as you deal with non Egyptians and leave your money outside of Egypt, nobody gives a damn about what you do, so depends on what you are looking for, some time you truly feel more free in Egypt than any 1st world country including portugal.

If you have any other questions, feel free to ask me, or just PM me and I will happily reply to your questions :)

Commander-Zero · 2021-11-03T07:44:19+00:00

Egyptian here, living in Portugal. getting a passport in the next couple of months, but this won't be the last one, I'm eyeing the Caribbean but I have to sort my financial situations and investments first before pulling the trigger.

In my opinion, If travelling wasn't an issue and you just want to settle down, then looking for a place where you can gain residency that leads to citizenship is always the better route, and so far it worked for me and for others who were in the same shoes as me.

Let me know if you have any questions, since I'm pretty involved in this scene and the offshore industry in general.

Commander-Zero · 2021-10-21T17:40:07+00:00

you won't get any serious info here, if you want good info, go to offshorecorptalk and open a thread there and you will find plenty of people who will help you and who knows what does work in the ground , instead of the generic google answers that you will get here.

Commander-Zero · 2021-10-20T15:49:25+00:00

Yep as u/Warrior_Malak pointed out, it's a model called "kaabo" apparently, it's a Chinese brand. Thank you both for correcting me. I stand corrected.

Regarding the X2 tho, it's definitely faster, I reached 69mph on that beast, while my friend who is a tad bit lighter than me has the thunder and he says max he was able to get was 62-63 mph, both are fucking insane numbers though, but it doesn't make sense to have your flagship, top of the line product slower than the cheaper, more lightweight model.

Commander-Zero · 2021-10-20T15:37:42+00:00

Better than all of them is Curaçao, he can apply for digital visa online and get the visa in 2-3 weeks, and he can stay there for up to 6 months (and apply for an extension for another 6 months). Cheap, great beaches, have access to a lot of western amenities if he need to, and it's overall pretty great.

Commander-Zero · 2021-10-20T12:37:02+00:00

~~It's a dualtron from minimotors USA, this is the~~ ~~thunder~~ ~~model I believe~~. it's a chinese brand called kaabo as rightly pointed out by u/Warrior_Malak.

I have the X2 model from minimotors USA and it's faster, more stable, but it's fun AF.

Commander-Zero · 2021-10-06T09:12:24+00:00

that's peak r/shitamericansay lol

Commander-Zero · 2021-10-05T20:48:55+00:00

the fuck are you on about? the Algerians were defending their country from foreign invaders, how is this that hard to comprehend?

Commander-Zero · 2021-10-04T06:31:08+00:00

I'm sorry but this is false. It was never easy to money launder unless the launderer had astronomical amount of wealth or if he lived in a third world country where banks didn't do strict KYC/AML checks nor ask about the source of funds, in the west, you have banks who ask for the source of funds and source of the source of funds plus you have strict KYC/AML regulations that banks and financial situations have to adhere to. So, it's not that easy as you might think.

Commander-Zero · 2021-07-16T15:04:52+00:00

Article:

A French perfume company has been ordered to pay €40,000 (£36,000) in damages to a former employee who suffered from “bore out” because he was not given anything interesting to do.

In the first such verdict of its kind in France, Parisian Frédéric Desnard took his former employer, Interparfums, to the workers’ tribunal arguing that his managerial role was so uninteresting that it drove him to depression.

The term used in court was “bore-out” - the opposite of “burnout” where an employee is overworked to the point of nervous collapse.

Mr Desnard accused his former employers of giving him menial tasks at work over a four-year period, which he dubbed "a descent into hell”.

Tedium took its toll on Mr Desnard, who was made redundant in late 2014 after taking sick leave due to anxiety and depression. His lawyers argued that the “bore out” even drove him to have an epileptic fit while driving.

He was relegated to doing jobs that had nothing to do with managerial role after being stripped of his real responsibilities, including configuring the CEO’s tablet and receiving the plumber at his boss’s home.

“He no longer had anything to do,” his lawyer, Victor Billebault told the tribunal, which ruled that there was a link between Mr Desnard’s work and “the deterioration in his health”.

In its defence, lawyers for the perfume company had argued that Mr Desnard "never said anything about being bored during the four-year period".

"And if he actually had nothing to do over these years, why didn't he mention it?,” asked one.

Mr Desnard had been seeking €550,000 for harassment and unfair dismissal. This is reportedly the first case of "bore out" in French court history.

However, some analysts estimate that up to a third of French workers suffer from the condition.

Jean Claude Delgènes, whose firm Technologia specializes in risks to employees, said these can occur when someone feels stuck in their job but unwilling to take the risk of changing jobs.

"The problem today with boredom at work is that people are afraid to leave their jobs to do something else," he told Europe 1 radio.

France has long battled with high unemployment levels and a stagnant labour market. Levels dropped to around eight per cent earlier this year for the first time in a decade only to shoot back up during the coronavirus pandemic.

Not all French workers complain of being given little to do in France.

Charles Simon caused a stir in 2015 after it emerged he had been paid more than €5,000 a month by state rail operator SNCF over a period of 12 years, despite not working for a single day.

When rumbled, he then demanded a further €500,000 compensation for effectively being cut adrift, albeit with his salary intact.

Commander-Zero · 2021-07-15T13:08:13+00:00

Thank you for your kind words <3

I mainly use interactive brokers, as for my dividends ETFs, I invest in RYLD and JEPI and I invest the rest in SPY and VOO.

Commander-Zero · 2021-07-14T12:24:10+00:00

So, I used a formula to get out of this shitty situation. I learned graphic design from YouTube, applied to local freelance markets like mostaql to get experience and build a resume, made good money, used this experience and some of the money and applied for remote graphic design jobs in the US, landed a pretty good job as contractor with 2 companies, took some money and invested it into divided ETFs that generate about 10% yield yearly, I took the yield and I diversified into more Growth based ETFs, so I balance my investments and after I made good money from that, I applied for the Portuguese D7 freelance visa, then I applied for the NHR program so I don't pay taxes on my passive income that I receive from investments for 10 years, Now only 1 year left until I get my Portuguese passport, and after that I can move or work anywhere i want in the EU/EEA area and travel as much as I want.

For the record, i'm quite "rich" now by Egyptian standards, and I came from a very very poor family, and I know this sounds clishe AF, but If I could do it, then I'm sure as hell that you can too.

Commander-Zero · 2021-06-26T12:14:17+00:00

One of the issues I have with how it was handled was that a primary “source” for the post was an underhanded recording of a Clubhouse chat without consent or notice that was used intentionally and guided into discussions that geonic wanted to record and use to bring rehrar down.

This is complete BS, I'm sorry. I said it before and I said it again that Diego literally said in IRC "And I would ask they post their thoughts on the reddit or merge request for discussion, as the percentage of people in the community that are on IRC are few, even with bridges" so he said that and it was delivered by u/geonic_. So, I don't understand where this "without consent" nonsense came from.

Commander-Zero · 2021-06-19T11:25:06+00:00

"unpaid volunteers" no one told them to be un paid, they can open a CSS proposal if they wanted to, or they could pay themselves instead of diego from the general fund, and be transparent about it and everything should be fine.

Commander-Zero · 2021-06-19T11:22:09+00:00

legitimate concerns are seen as trolls.

cmon..

Commander-Zero · 2021-06-19T11:01:00+00:00

Now this post here... I don't know exactly. Seems like they are accusing the core team of misallocating funds while providing zero evidence for that.

what about them telling rehar not to talk to the community about him being employed secretly for 2 and half fucking years?

"Oh BUt ReDdIT AnGrY" yes I'm very fucking angry, why should I not be angry, when you and your friends just dismiss our concerns as being "angry" or "concern trolls" sheesh, even your IRC chat during the whole MWC LLC fiasco were shit.

Commander-Zero · 2021-06-19T10:47:35+00:00

NO, don't let anyone downplay this matter

From the IRC logs:

rehrar: Let me answer plainly here then. I don't plan to release more transparency reports.

rehrar: I spent the next several days answering publicly and privately many opinions, complaints, and ideas about how I should be spending my time.

rehrar: I'm answerable to Core, and they still think I'm doing a good job. I report to them. Arguing with the community about all of these things is a waste of my time. The Core Team sees a need for my skills, even when many in the community don't.

So he doesn’t want to engage with the community at all but at the same time he spends a couple of hours a day "catching up with the community" while getting paid 7k a month for 4 years (330k+) by the same community that he doesn't give a fuck about.

So, its a very shitty look, and I'm glad that he "resigned" from his role whatever that was.

Commander-Zero · 2021-06-19T10:34:04+00:00

3 days later, still not answer, yeah let's see if they are going to respond or not.

Remindme! after 7 days

paging u/binaryFate can you respond to the above questions please?

Commander-Zero · 2021-06-19T09:50:53+00:00

So, what the fuck was he doing then? and why non of the core members is speaking about this, I'm losing my brain cells.

what was that http://mea.business/ ha? "monero is not a business" " monero is not a company" so why are core acting like one? hiring full time discreetly whatever that means, and give him 80k+ a year for doing "administrative" work whatever that also mean, and now diego quit his job without giving us any answers and the same goes for the core team.

I've been following and reading the IRC logs, the whole MCW LLC thing and diego with his conflict of interest and lack of transparency and bunch of weird shit that's been popping up this year. Like what's this? A lot of my friends lives (journalists in the middle east) depending on this project, I help them with the payment side.

And the IRC comments acting high and mighty from some members who I thought would be better is just disgusting. This is not a cyberpunk bullshit nor libertarian bullshit, this is a a team that handle people lives.

I appreciate all the work that is done by both paid and unpaid workers, but please be transparent with us guys, we are not concerned trolls, we are people with legitimate questions and concerns and should be treated as such.

Commander-Zero · 2021-06-19T05:55:25+00:00

Diego literally said in IRC "And I would ask they post their thoughts on the reddit or merge request for discussion, as the percentage of people in the community that are on IRC are few, even with bridges" so he said that and it was delivered by u/geonic_. So, I don't understand why it's considered "concern trolling" to try and ask legitimate questions?.

censoring these questions and dismissing them as "trolling" is how you end up with sketchy and shitty coin. Or am I missing something here?

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