Future of Japan
Sep 13, 2017, 7:33 am
#31
FlyerTalk Evangelist
Join Date: Jul 2004
Location: London
Posts: 18,398
Ouch you'll have fun dealing with the local Zeimusho then when that unfortunate time comes 
. At least you won't have to deal with the HMRC too as UK Inheritance tax is only on UK based assets.
If I'm unfortunate enough for said relative to die whilst still living here I'm gonna have to deal with the tax authorities of 2 countries and somehow avoid having a huge tax bill to pay to Japan.
Japan lets you deduct taxes for taxes paid overseas so I'm hoping if that situation ever arises I can work out a deal where my UK solicitor would pay HMRC their due and then send over the balance of what is due to Japan rather than pay it ALL then get a refund back.
. At least you won't have to deal with the HMRC too as UK Inheritance tax is only on UK based assets. If I'm unfortunate enough for said relative to die whilst still living here I'm gonna have to deal with the tax authorities of 2 countries and somehow avoid having a huge tax bill to pay to Japan.
Japan lets you deduct taxes for taxes paid overseas so I'm hoping if that situation ever arises I can work out a deal where my UK solicitor would pay HMRC their due and then send over the balance of what is due to Japan rather than pay it ALL then get a refund back.
Sep 13, 2017, 11:14 am
#32
Original Poster
Join Date: Feb 2013
Location: Hilton, Hyatt House, Del Taco
Posts: 5,378
I knew about the FEIE. But was wondering what would happen when you try to bring money over from US to Jpn after retirement (such as Roth, 401k, savings).
Sep 13, 2017, 4:36 pm
#33
Original Member
Join Date: May 1998
Location: Tokyo, Japan (or Vienna whenever possible)
Posts: 6,379
Don't. Just park it in the US and use a credit card to spend it. Rack up miles and have access to funds. Given that even basic gold cards here are up to 20,000 spend a month, I imagine that if US issued cards are at all similar you will be fine. When I was in college in the UK I used send travelers checks as it was safe and negotiable. But the days of sending money are largely gone I guess.
Sep 13, 2017, 5:25 pm
#34
Original Poster
Join Date: Feb 2013
Location: Hilton, Hyatt House, Del Taco
Posts: 5,378
And based on what I read, it seems like you can maintain US credit card with a foreign address and you can always keep your US checking account loaded from abroad because bank transfers are not taxed (at least by US).
Just hoping that Jpn doesn't try in the future to crack down on this credit card loophole and squeeze tax out of it.
Sep 13, 2017, 9:43 pm
#35
Original Member
Join Date: May 1998
Location: Tokyo, Japan (or Vienna whenever possible)
Posts: 6,379
That's brilliant. I'm taking copious notes.
And based on what I read, it seems like you can maintain US credit card with a foreign address and you can always keep your US checking account loaded from abroad because bank transfers are not taxed (at least by US).
Just hoping that Jpn doesn't try in the future to crack down on this credit card loophole and squeeze tax out of it.
And based on what I read, it seems like you can maintain US credit card with a foreign address and you can always keep your US checking account loaded from abroad because bank transfers are not taxed (at least by US).
Just hoping that Jpn doesn't try in the future to crack down on this credit card loophole and squeeze tax out of it.
Sep 13, 2017, 10:31 pm
#36
Original Poster
Join Date: Feb 2013
Location: Hilton, Hyatt House, Del Taco
Posts: 5,378
Sep 13, 2017, 11:14 pm
#37
Original Member
Join Date: May 1998
Location: Tokyo, Japan (or Vienna whenever possible)
Posts: 6,379
I would probably ask a friend/relative to receive mail for me. As 100% of your banking is done online anyway you will not need the address for anything more than their records.