Ok guys this may have been covered before but I really could not find out my question with a search.
I retire from the Navy in 408 days. My pension will be $1500 a month and since I am not married and have no financial dealings to the US other than my house in Virginia that is valued at 40% over what I owe on it.
I know I can do just fine in the DR I just would feel better about building up anest egg for the future. After all 38 is still too young to retire completely.
I have the chance to work for around 80k a year tax free when I get out of the Navy and I was thinking of doing that for a year or two and build up a nest egg.
My question is if I get my DR residency and establish a DR corporation as the normal procedures go can I invest money in the States as an Dominican Corporation and avoid paying income tax on those earnings. I know there is a tax liabilty of removing the money from the States in the first place but I am wondering if I can invest the money once it is out of the US system.
Thanks John
I retire from the Navy in 408 days. My pension will be $1500 a month and since I am not married and have no financial dealings to the US other than my house in Virginia that is valued at 40% over what I owe on it.
I know I can do just fine in the DR I just would feel better about building up anest egg for the future. After all 38 is still too young to retire completely.
I have the chance to work for around 80k a year tax free when I get out of the Navy and I was thinking of doing that for a year or two and build up a nest egg.
My question is if I get my DR residency and establish a DR corporation as the normal procedures go can I invest money in the States as an Dominican Corporation and avoid paying income tax on those earnings. I know there is a tax liabilty of removing the money from the States in the first place but I am wondering if I can invest the money once it is out of the US system.
Thanks John