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Life Without Income Taxes: Is It Possible?

Individuals and business in the U.S. looking to avoid paying income taxes have essentially three options.

The first is to take advantage of the 183-rule and regularly move from one country to another. You can't become a tax resident if you never stick around long enough to actually become a resident. This could get tedious fast.
The second option is to earn money in one country while living in another that doesn't tax foreign income. This will require renouncing one's prior citizenship, successfully immigrating to a new country where foreign income is tax-free, and acquiring a job in a country that isn't that new country.14
Most will likely find option three the easiest: residing in a country that doesn't charge income taxes.

Of course, this isn't without its difficulties. Not only is obtaining citizenship difficult in some countries, the U.S. government isn't exactly keen on the idea of the wealthy abandoning ship. Over the years, thousands of millionaires have acquired citizenship in countries with lower tax rates.15 In order to limit potential income tax revenue from leaving the country, U.S. tax authorities have imposed rules to make it both difficult and expensive to renounce U.S. citizenship.

Currently, all U.S. citizens and green-card holders are legally obligated to file U.S. income taxes regardless of where they currently live.16 To avoid this, green-card holders must file Form I-407 with the U.S. Citizen & Immigration Service, indicating that they have abandoned their green card holder status. Citizens would need to renounce their U.S. citizenship following the rules and circumstances described in the expatriation tax provisions, a process that can become rather expensive.1617
List of Countries Without Income Taxes

If you or your business is still interested in moving to an income-tax free country, the first task is to decide where you're going to relocate. Some countries make it harder to secure citizenship than others, and each locale—some rather remote—comes with unique costs, challenges, and risks.