Redvolition

joined 11 months ago
sorted by: new top controversial old
1
How long do you have to spend on a tax haven to become a tax resident there? (alien.top)
 

The norm for most countries is 183 days, but if you don't make the cut anywhere, your tax residence will generally be determined by your connections to a certain place, such as where your main residence or center of interest is.

So I'm trying to find out what is the minimum you can stay on a tax haven to become a tax resident there, and then just hop from country to country while not triggering any other tax residence.

The version A of this strategy would be to stay, for example, 60 days somewhere like St Kitts and Nevis, then 153 days on another country A, and 152 days on another country B.

Version B, which probably strengthens your claim of being a St Kitts resident, would be to stay less than 60 days on other 5 or so countries, while spending at least 60 in SK or a comparable tax haven.

In St Kitts, it seems that you need to live there for 2 months in order to become a tax resident, or immediately if you acquire citizenship, whereas in the Bahamas, you would need to spend 90 days there to maintain residency status through their investment program. In Vanuatu, if you acquire citizenship you don't even need to step foot there to be a tax resident. Similar to the Bahamas, the Cayman Islands Residency Certificate only requires you to stay there 90 days per year.

But none of these address the situation in our version B. What would be the verdict then?

Why all of these celebrities and wealthy people joining OnlyFans don't create their own platforms instead? in c/entrepreneur@indiehackers.space
[–] Redvolition@alien.top 1 points 11 months ago

Good point, but tax compliance in the major markets would only run at about 100k initially, and then some 30k annually, maybe 60k if they also sell physical merch. I think this is peanuts for most celebrities.

Why all of these celebrities and wealthy people joining OnlyFans don't create their own platforms instead? in c/entrepreneur@indiehackers.space
Why all of these celebrities and wealthy people joining OnlyFans don't create their own platforms instead? in c/entrepreneur@indiehackers.space
[–] Redvolition@alien.top 1 points 11 months ago (2 children)

These people are already famous, they are their own marketing. All they have to do is create the platform and point their fans towards it. Its not like they are creating an entire platform and personal brand from scratch - they already have one and just need a means to distribute and monetize it.

Why all of these celebrities and wealthy people joining OnlyFans don't create their own platforms instead? in c/entrepreneur@indiehackers.space
[–] Redvolition@alien.top 1 points 11 months ago (1 children)

Frankly, I'm not convinced about the cost argument. There are thousands of small porn businesses hosting videos on their own websites and accepting payments via CCbill or alternative payment processors. I doubt they are all running expenses in the millions of dollars, since they wouldn't be profitable if that were the case.

Why all of these celebrities and wealthy people joining OnlyFans don't create their own platforms instead? in c/entrepreneur@indiehackers.space
[–] Redvolition@alien.top 1 points 11 months ago (4 children)

Thing is, they wouldn't be trying to be a new OF in this case, they would just be launching their own content through their custom platform, not hosting other people's content like OF does. There is some intersection between these businesses, but they are not in direct competition, in my view.

1
Why all of these celebrities and wealthy people joining OnlyFans don't create their own platforms instead? (alien.top)
 
  • So, first off, how much would it cost to build an OF-like platform? I know that basic cookie cutter video hosting websites go for 20 to 50k USD. Now triple that for extra gimmicks, lets say then 60k to 150k.

Unless I'm widely wrong about how much it costs to build a personal platform like this, why are all of these rich celebrities joining OnlyFans and accepting the 20% cut taken from them?

My hypothesis:

  1. They for some reason actually want to be associated with OF as a marketing trick.
  2. They want to be associated with OF due to a political agenda. What would that agenda be?
  3. They expect to attract more subscribers from OF than on their own, due to people already having OF accounts to begin with, which streamlines subscription.
  4. There is enough internal traffic on OF so that the platform itself can serve as an advertisement vehicle. OnlyFans has an estimated 1.25 million daily active users. I would imagine this is nothing to most of these celebrities, though, which already have comparable or higher followings elsewhere.
  5. I'm wrong about costs.

Disclaimer: I don't use OnlyFans, and I'm only vaguely aware of how it works, so there is that.