Life takes unexpected turns! I have Japan PR and my husband just mentioned this past weekend that… he might have a good job offer in a third country (not Japan or U.S.)! Besides being an interesting experience, moving might offer some financial/tax advantages for me: Apparently Malaysia doesn't tax global income :-)I am wondering about the following kinds of things:
(1) I recently opened an IBSJ account and moved assets from Charles Schwab in. I also started NISA account and invested. I think if I leave the country I have to close my IBSJ account, right? Can I move those assets (including NISA purchases) to a regular IBKR account? The third country doesn't have an IBKR registered in that country, but I think people still use it? I guess I could transfer my assets back to Charles Schwab? Would that work for the NISA assets?
(2) I work for Japanese companies freelance. If I leave the country, can I still work for them and ask them not to withhold taxes? Currently I pay both sales tax and income tax in Japan. I could potentially owe none of that if I move to Malaysia and do the same work???
(3) We have a house in Japan. We have two children. The oldest child says she doesn't want to move with us, so we could potentially keep our house and let her live there with her grandparents. If I then visit Japan say, once a year for a week or so, am I considered a tax resident here? Would renting out our house help?
I guess the biggest financial incentive for me I'd want to nail down the details on is avoiding paying effectively 30% on dividends and capital gains that I currently pay (when I count health insurance). Getting rid of Japanese tax residence could potentially be pretty nice…Anything I should think about?
by JPcoolstar