Best Country for Trading (Tax efficiency)

Discussion in 'Taxes and Accounting' started by ET873, Feb 3, 2010.

  1. Daal

    Daal

    I thought you were referring to giving up your citizenship
     
    #131     Mar 23, 2013
  2. d08

    d08

    Shouldn't be any problem with that. Well, brokerages often require supplying them addresses with proof that you live there and to get that you might need to supply then with some kind of a utility contract. But most countries define residency for taxation purposes based on staying more than half of the year (roughly, varies) in the country.
    I suppose with the recent communist tendencies of Europe, there will be more travelers like yourself.
     
    #132     Mar 23, 2013
  3. No, just the residence. Unlike in the US most european citizenships come with no strings attached. Once you are out of the country you are pretty free from obligations and may get back anytime.

    __

    regarding the brokerage firms:

    I already have my accounts and have confirmed with my current address. I don't think they will ask again.

    regards, Chris
     
    #133     Mar 23, 2013
  4. Dogfish

    Dogfish

    Declare non residence for tax purposes to your home country and set up a company in Dubai for a residence visa. You only need to pass through once every six months to keep it valid and you will legitimately pay no corporate or income tax on any earnings and will have 100% ownership of your freezone company. Your home country will see you have legitimately left and pay no attention to you so long as you don't overstay on visits back there.
     
    #134     Mar 24, 2013
  5. promagma

    promagma

    How about Puerto Rico? With the new laws it is tax free for us individual investors types, even US citizens.
     
    #135     Mar 24, 2013
  6. Hi, which laws are you referring to? I never heard of a tax free puerto rico.
    furthermore, wouldn't you need to get a US residence visa for that?
     
    #136     Mar 24, 2013
  7. I also have to consider how easy it is to get a residence permit. Since I am a EU citizen it would be easiest to move to another EU country since we are free to move within the EU.

    I heard of UK, Malta and Cyprus to be the most favorable locations.

    Some sources mention that they do not tax trading since it is foreign sourced income, while others say that it is not considered foreign sourced. Another problem is that frequent trading is often taxed using income tax rather than CGT.

    Does anyone have experience or is even residing in one of the mentioned countries?
     
    #137     Mar 24, 2013
  8. bawr

    bawr

    Puerto Rico is of interest only to US citizens. If you are an EU citizen, you have many more options available to you than to the inmates of the Land of the Free.
     
    #138     Mar 24, 2013
  9. Do you have any specific suggestion or is this just a general statement?
     
    #139     Mar 26, 2013
  10. pfranz

    pfranz

    In Malta they do not tax capital gains generated abroad,even if they are remitted to Malta.
    Who says they are not foreign sourced? If your broker is outside of Malta and the exchanges are not in Malta, how can you say the gain is not foreign sourced?
    I asked directly people from the inland revenue department,they told me no tax is due.
    These rules apply to EXPATRIATES (= resident but NOT domiciled in Malta).
     
    #140     Mar 26, 2013