What is an IRS Currency Transaction Report?

What is an IRS Currency Transaction Report?

If you make a financial transaction of over $10,000, then your bank or other financial institution will need to file a Currency Transaction Report. Dateline: Kuala Lumpur, Malaysia Suppose you recently took a trip to Las Vegas, and you got lucky – in fact, you...
FAQs: Tax Incentives and Moving to Puerto Rico

FAQs: Tax Incentives and Moving to Puerto Rico

Interested in the idea of moving to Puerto Rico for tropical beaches and zero taxes? Here’s what you need to know Puerto Rico has been in the news quite a bit lately. Specifically, its status as a new tax haven for Americans has landed it on editorial pages from...
The Zero-Tax Citizen: Tax-Friendly Second Passports

The Zero-Tax Citizen: Tax-Friendly Second Passports

How can you use a second passport to legally lower your taxes? Dateline: Kuala Lumpur, Malaysia Those of you who are tired of paying high taxes may have heard that a tax-friendly second passport can help you legally reduce your tax burden. You might be a high-income...
The Truth about Caribbean Citizenship by Investment

The Truth about Caribbean Citizenship by Investment

Caribbean citizenship by investment is a great way to start your passport portfolio. Dateline: Kuala Lumpur, Malaysia If you tell someone that you have Caribbean citizenship by investment, they might scoff at you. Many people call passports from places like Dominica...
Myths about Giving Up American Citizenship

Myths about Giving Up American Citizenship

If you Google “how to renounce US citizenship,” you’ll plenty of conflicting information all over the internet. So, what’s true, and what isn’t? Dateline: Kuala Lumpur, Malaysia When I first learned that you could renounce US citizenship,...
The Big Mac Index and Global Currencies

The Big Mac Index and Global Currencies

The Big Mac Index is a lighthearted way to determine whether a country’s currency is over- or undervalued. Not everyone finds macroeconomics as riveting a subject as we do here at Nomad Capitalist, but thanks to the Economist Magazine’s Big Mac Index, concepts...