Dollars or Colones (Taxes)?
I am a naturalized US Citizen, born in Costa Rica to Costa Rican parents..In July of this year, I will move to Costa Rica to work for a US company based in Florida.
My move there is in essence permanent, as the length of time for my employment is indefinite. In all likelihood, I would likely remain in Costa Rica and ultimately retire there. I am in my early 50's and will work for another 10 years.
Based on the information I have gathered, my birth right, makes me eligible for immediate Costa Rican citizenship and qualifies me for all of the benefits that come with such status. As you are aware, Costa Rica, as well as the US, allow for dual citizenship between the two countries.
My salary will be in the $150K range per year, plus bonuses, 401K, car allowance, health benefits, etc.
My questions are as follows.
What is the best method for me to get payed, relative to taxation?
1. Should I get paid as a US Citizen (first $78K tax free)?
2. Should I get payed as an Costa Rican? (I believe that the location in Costa Rica is 3. registered as a local company)
3. Should I get paid in Dollars or Colones?
I know that I have crossed the line by asking so many questions, and for that I apologize.
When I read your article, I was impressed by your knowledge and felt that you could advise me or at least point me in the right direction.
Whatever advice you give me, I will take take as reference only.
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