Because they have to, not because they want to. I know bankers who live in Monaco. Have to. They prefer to go back from where they came, but if you need to make money.... How many of these 85% are poor workers? I know people who lived +5 years in Dubai too. They moved to a place where they pay much more taxes, but still prefer to live there. But if you like sand Dubai is the place to be. Not to speak about the constant thread of having problems with the police... My friends were arrested because they were in a park after it became dark. They were with a group of about 15 persons, didn't do anything wrong. Just be there was enough. http://www.dailymail.co.uk/news/art...giving-friend-CPR-suffered-asthma-attack.html http://www.express.co.uk/news/world/359963/British-woman-29-jailed-for-romp-in-Dubai-taxi
Not sure, many poor workers but also plenty of white collars out in Dubai, and good facilities for them, including world class bars and clubs. I'd prefer Monaco but it doesn't work for me, might well move to Dubai next year - i'm already enjoying a tax free set up though, so no rush in this domain.
As far as I can see neither Malta nor Uruguay is mentioned. Both countries only tax what you remit to the country (as non domiciled), and remitted capital is only taxed at 15% and 12% respectively. Same with UK. Lots of opportunities for living in good places with moderate tax burden for those who are lucky enough to have brokes ties with original country (I'm not, unfortunately).
But first check and check again!!!! Example of Malta: this is the answer from the Malta Inland Revenue Department on a question from a trader: I finally received the answer from the Malta Inland Revenue Department: “Any trading income that is made while one is residing physically in Malta is considered as income arising in Malta and taxable in Malta.” If you are trading every day for a living, the gains are not taxed as capital gains. The gains are taxed as business income. As such they are taxed in Malta, because your business activity takes place in Malta. The Maltese tax authorities have confirmed this to me in an e-mail. How do they qualify those earnings as capital gains or income? By quantity of operations? By quantity of money won? By quantity of operations, i.e. trading frequency and volume. The gain per se is not relevant, it may zero or negative and the activity will still be classified as a business activity. So this is COMPLETELY DIFFERENT from what you found on internet. Unfortunatelly the real situation is not what you find on internet but what the Malta Inland Revenue Department says. Non domiciliated means that you have your domicile somewhere else. You can be taxed there, so why go to Malta? And if you are a US citizen nothing helps.
It's often better to trade through a corporate set up to minimize one's tax rather than under one's personal name. Set up through Malta are widely advertised by offshore brokers, I suspect there is something to do there (but as I have no interest in moving there I didn't check the issue closely, but that's the way it works in some other countries, trade through a tax free corporation, and repatriate some profit at zero or a very low tax rate to one's personal account)
In Europe: - for those who are already wealthy: Monaco - for those who want to become wealthy, keep their cost low and still enjoy life in a nice country: Bulgaria. 10% flat tax, excellent internet, nice, large cities at the black sea coast (Varna, Burgas)
But living costs of Singapore is very high compared to Panama, Belize, Bermuda, Dubai, Caribbean, etc.? I would prefer to trade from a place where two room apartment or condo is max $700 in rent and monthly food costs is max $200.
I think your first problem is to make enough money as trader. $900 a month for living is all you can afford? ops: $200 for food is possible. If you are alone and eat 1 time a day at Mc Donalds.
One could afford it, can afford to pay +$10,000, but throwing away more money than necessary for a good standard living is squandering and make it take longer to build wealth. McD? I do not eat at garbage stations, only organic and non-GMO food that I cook myself. I would visit the local wet market and buy the vegetables, meat, fresh fish and sea foods I want (crabs, lobsters, shrimps, prawns, etc).