Forget it, in most European countries "without capital gain taxes", a criterion making the distinction between investing and trading would apply. For capital gains resulting from trading, the tax people would consider this income as "professional" and will tax it with other income, usually at 60+%. I believe in Germany some new laws are under consideration in this field but I am not well informed on this. So after all, the USA is not that bad at all, it's really in Europe you get fleeced badly. nononsense
Didn't you mean it's a lot easier to get internet in Holland than CR? I think a lot of you are being misled by focusing on the CGT only and also by European traders who don't even know their tax codes or do not disclose the extent of their trading to the tax authorities . There are other taxes that hit self employed persons in the EU, AND don't believe that the authorities won't try to establish that your trading is a profession in order to tax you at the income rate. In Holland you'll have to pay SS taxes which are very high like in other EU countries and if trading is your only source of income, you will be considered a professional so kiss the low flat rate good bye. Same in Belgium. Luxembourg is worth a look but life is probably extremely boring there. Otherwise Switzerland if you meet the net worth requirements. So believe me the US is not bad at all. And it is still the best place to live in the world IMO (for the standards of living at least). If you want to live in Europe (but why would you?) consider the UK, no SS taxes, similar to the US (if you are in London) and great trading hours onall the world markets. First 7000 pounds of CG are exempt, top income tax rate is "only" 40%.
Let's face it. If USA is that bad, how come so many people from Asia, Europe, South America, etc. are emigrating to the States ? Four months ago, I went to an INS center at Manhattan to get an application form. The queue was so long that I had to wait for four hours before entering the building. That should speak volume. :eek: :eek: :eek:
Why not set up a Liechtenstein trust for your trading account, huh? Then only pay tax on any money you transfer from it to yourself assuming that this is treated as income. Effectively this should avoid any taxation on your capital (namely your accruing profits from trading).
I believe the three contries I mentioned do not have any criterions to make the distinction between investment and trading. Individuals will not be taxed on capital gains.
Because most of them haven't reach the point of making a lot of money. Once they find out about trading, and start making millions, they want to get out of US as well. USA is a good place to get started. Plenty of opportunities to make money.
The only volume that speaks is that the morons at the INS pick their nose all day and enjoy having a "secure" job no matter how little they get done.
I don't think there are many countries who do believe in air conditioning the way Americans do. Before I moved to the US, I had never even heard the word "sinus".
I've read that the IRS is behind some of the sites on the web offering how-to advice for off-shore tax avoidance schemes. Don't know if it is true, but it sounds plausable. So be cautious about giving your name out. Even if you have no intention of avoiding paying taxes on your trading income, you could be inviting a load of assessment hassles. chaos