The craft, which is expected to be completed by late summer 2001, will have the usual cruise-ship appointments, plus some unusual ones. Secretaries and other office personnel will be among the ship's staff of 252. The ship will ply the seas at 19 knots, following the climatic and social seasons to ports such as Rio for Carnival and Cannes for the film festival. Mr. Freberg said the ship was likely to be in port about 250 days a year. Roughly half the residents lined up so far are European, with most of the rest American.
Most countries basically work on a residence basis.
If you're resident there for half the year, you're resident there and taxed there. Clearly that has some interesting tax possibilities. Not for the 40 percent of World residents who are American. The United States is one of the few countries that tax citizens on worldwide income, wherever they live. Tax authorities assume that citizens who are not resident at home will be resident in some other country that will probably tax their earnings, but tax codes do not explicitly state that citizens must have residency somewhere and that if they do not, then they are taxed in their country of citizenship.