Florida is a mecca for traders, why taxfree Bahamas (50 miles away) is not?

Discussion in 'Taxes and Accounting' started by CSEtrader, Jun 9, 2018.

  1. CSEtrader

    CSEtrader

    Hello! We landed here 10 years ago, driven by Ernst Hemingway's hand Kostantin Paustovski'sj romanticisme, puzzled by the possibility to grow kids without any countries heavy conditionings, in the society where ancient values of simple joy of life still alive, where kids are coming in offices of parents and where conch and fish sellers can give you a touch of simple wisdom with smile.
    It is only 40 minutes from Miami and 3 hours from NYC, Chicago. Direct flights to Panama, Canada, London. So why it is only us and Ryker apparently are here?
    Yes, entry ticket is high, but if you are good trader you can easily make this amount of money in one month.And the internet speed is constantly second, third place in the world.
    Will be interesting to know your thoughts.
     
  2. Handle123

    Handle123

    Bahamas is beautiful place to go as I have been several times, a place to get away from wherever, but if I was to live their constantly, I end up thinking I could go bowling at 3am or fly to anywhere in the states for a weekend. Just have gotten too landlocked to be on an island where concerns of hurricanes leveling my house each year. Yes, houses can and will be rebuilt, but how much can you keep packing of memories? Am allergic to salt water anything, can't even swim in it.
     
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  3. dealmaker

    dealmaker

    Your presumption is wrong, Florida is not a "mecca" for traders but for South American family offices. Post #46

    https://www.elitetrader.com/et/thre...-palm-beach-office.292566/page-5#post-4429835
     
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  4. CSEtrader

    CSEtrader

    Thank you, Handle! Certainly if you are allergic to the salt water there are other Earth paradises for you. The deers in NC, the colour changing mountains of Colorado and more. I am so happy that you still appreciate Bahamas. People are living here exactly as you said, those who can afford - all weekends in Florida, chartering boats and airplabs. As for hirricans the last destructive was at the end of 800. The recent Matthewu was category 4, the wirsest in past 60 years. Thanks Universe , if the house is not at the ocean level and build solid all was good. Sture it is danger. But it giving a very amazing expirience to gobtgrough hurricane together. We went in shelter from Matthew and it was real Arc of Noe - Bahamians, Bahamians, French, Americans, Canadians, Germans, Phillipinnes and Russians , this was our group of about 30 persons. Many flying away once hurricane warning is issued and holding main belongings on mainland apartments. Ours stilkbein storage in Europe. Living here with hurticans danger is giving real feeling of how this life is fragile, short, how our belongings are futile and we are all just passengers on the Earth for a trip long of our lifetime.
     
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  5. CSEtrader

    CSEtrader

    Interesting, thank you. My presumption was based on the favorable taxation for traders, losses can be deducted and no state tax. Still, why to pay taxes and not just make 40 minute move from today crazy world into the humans values paradise? At least this were our thoughts.
     
    dealmaker likes this.
  6. Maverick74

    Maverick74

    I can't think of a worse place in the world to trade from. Combining the uncertainty of trading with the uncertainty of weather. Not just bad weather, but weather that can take your power out for weeks. Puerto Rico is still without power in many parts and that storm was a year ago!
     
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  7. I've never been to the Bahamas. I don't know how much more it will cost to build a concrete-steel frame house with a swimming pool that can easily withstand strong hurricanes.

    I'm under the impression that one can open an offshore account to take advantage of offshore tax exemptions without actually trading at the offshore location, i.e. one can trade on his laptop from a condo in NY, or hotel in London, and that with residence status in both countries, one can fly back and forth as frequently as one wishes (limited only by flight schedules).
     
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  8. CSEtrader

    CSEtrader

    Thank you for sharing, interesting. But you always can flight in your apartment around the world while the life will be rebuilt. I hope the hurricane such as it was on Puerto Rico and the Virgin Islands will never come here - without USA backing power I cannot see how this island can rebuild.
     
  9. CSEtrader

    CSEtrader

    Thank you and come to visit, it is really beautiful if you love the ocean and clear water.
    If you are US citizen then you can not, it is a disclaimer when you will try to open an account here. it is certainly more expensive to build here, but one is hoping to have tax-free tropical paradise out of the busy world. You still can travel, but I believe in the UK it is 60 days after which you will be subjected to the taxation, no matter where is your account, you will have to pay taxes at least on what you show you are spending and probably have other types of dangers.
     
  10. Maverick74

    Maverick74

    I wish it was that easy. It's not. You are talking about "living there". Not using it as a bachelor pad. That means the wife, the kids, the dog, your life possessions, etc. You can not just "fly away" like Peter Pan. I rather live in South Central LA with electricity than on an island with no power. Shit, I'll do one better. I rather trade from the library of a state prison than live on an island with no power.
     
    #10     Jun 9, 2018
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