Why moving to Latin america can be an excellent option tax?
Latin america has become an attractive destination for those looking for cost of living low, tax advantages and a pleasant climate. In this article, we will discuss four countries with systems favorable tax: Paraguay, Uruguay, Dominican Republic and Costa Rica.
Paraguay: residence fast, and low taxes
Key benefits:
- Only pay taxes for the income generated within Paraguay (territorial system).
The VAT is low and the tax system is simple and clear.
The residence is easy to get to, even without large financial requirements.
How to get the fiscal residence in Paraguay?
You can access the permanent residence quickly. Then, you can earn a certificate of paraguayan, making your life bank and tax in the country.
Who is ideal?
- Digital entrepreneurs with revenue from abroad
- Investors who are looking for simplicity and security attorney
Uruguay: stability and tax benefits
Key benefits:
Tax exemption on income of foreign during the first 10 years.
You only pay a 12% tax on income generated in Uruguay.
Excellent reputation and bank ease of opening accounts.
How to get the fiscal residence in Uruguay?
You can do this if:
- Spend at least 183 days a year in the country
- Purchasing a property for more than $390,000 USD or invest in a business
Who is ideal?
- People with a heritage that are looking for stability
- Expatriates who seek to reduce their tax burden without sacrificing services
Dominican republic: incentives for annuitants and pensioners
Key benefits:
Only pay taxes for what you generate in the country (land tax).
Programs for pensioners and annuitants foreigners.
Tax exemptions for the import of personal property, and vehicles.
How to get the tax residence?
The programs of the annuitant or pensioner are ideal for those who have passive income from foreign. Provide facilities and unique benefits in the region.
Who is ideal?
- Pensioners and people with a stable income
- Investors in the tourism sector and real estate
Costa Rica: for nomads digital and investors
Key benefits:
Total exemption from income tax foreign.
The program of digital nomad allows you to live without being taxed locally for 1 year (extendable).
Several ways of obtaining residence: rentier or for investment.
How to get the tax residence?
- Digital nomad: no taxes and with temporary residence
- Minimum investment of $150,000 in assets or projects
Who is ideal?
- Freelancers and remote workers
- Foreign nationals interested in real estate and ecotourism
What country tax suits you best?
There is not a single answer: it will depend on your nationality, income, lifestyle, and goals. The important thing is to assess your options in a strategic way and legal to optimize your taxes without losing security or freedom.
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In IURIT we analyse your case and will walk you step-by-step to get the tax residence more beneficial in Latin america.
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