Pakistan. They don't take too kindly to non-Muslims (knowledge of some Lahore Christians who were desparate to get to other countnries, as they faced persecution in jobs and other areas. Maybe you could find a nice litle haven in Kashmir
Incorrect. If you are trading in foreign markets, then often it is classed as foreign source income, and thus exempt from tax in quite a few countries. It's definitely worth speaking to a tax adviser about it.
LOL. I've heard of fucked up tax-people but not THAT fucked up. Beware also of using an airplane cos u might be traveling over many countries and can be taxed in all of them!
I am a Hong Kong citizen. There is no need to pay tax on profit from trading any markets and any time frames. Also, there is no tax on stock dividends. But if you are American, I think you still need to pay US tax. My ex-colleague paid salary tax in Hong Kong and also US tax (double taxation treaty?)
This is an interesting topic. What are the best places to trade from in 2011? People whoa are recommending places like Monaco clearly have no idea what the property costs are. Most here don't have trading capital in the millions so that actually is a big factor. Things that need consideration are - property costs, health care quality, infrastructure, language, visa/residency and obviously taxation. I'm currently paying around 21% and I consider that a robbery. However, I wouldn't mind paying up to 10%, a number I consider a fair contribution. Countries that seem to be very decent based on superficial analysis would be: New Zealand (no cap gains and the first 4 years for a new kiwi are tax free), Uruguay (12% cap gains), ???. Places like Singapore and Hong Kong are amazing until you check the property prices and the smog levels in HK, Malta and Cyprus seem nice for now but the EU will enforce higher taxes everywhere, it's bound to happen in the next few years. Asia or Oceania would be my region of choice as that's where the economic future is.
For all the small US Citizen traders dreaming of trading their $5k futures account into millions, isn't trading futures inside an IRA the perfect solution? If you have positive expectancy and a 10-year plan, the difference paying no tax makes could be huge.
Sure, for US citizens. I guess my questions are more directed at the non-US people or the Americans who would give up their citizenship. The location question is more important than ever, with increased taxes for traders looming in the western world. I'm paying 20% flat now and since the tax systems are rarely straightforward and easy to understand, I'm not even sure how it compares.
Just trying to understand. Say you are a Canadian citizen living in canada and trading US equities and you make this 500k. You will not pay US taxes but you will definitely have to pay canadian taxes; which if i am not mistaken are more than US taxes. No? what am i missing? thanks! -gariki
no kidding, but you can"t teach young kids anything. Like when my grandfather told me I should slow down and enjoy life. Trade your sheltered money and keep personal money in index funds and pay pratically no cap gains. And you don't have to pay the IRS the first quarter when you know damn well you're going to lose most of it the next quarter.
I haven't spoke to lawyers in those 2 countries, but in other places where I got professional advice, using the internet to log in to a broker outside the country is not classed as doing business within the country. For example I traded in Eastern Europe, mostly US exchange products using a broker outside the country, and it was classed entirely as 'foreign source income'.