Discussion in 'Taxes and Accounting' started by luisHK, Apr 8, 2018.

  1. Xela


    Thanks very much, Maverick. (That's also similar to what I've been told.)
    #21     Apr 8, 2018
  2. Gibraltar is a nice country,i have being there a couple of times on vacation and work.
    #22     Apr 8, 2018
  3. Xela


    Are you sure you're from Miami? So far, in your very few posts, you seem to know about the US, Canada, Sweden and Gibraltar? A well-travelled trader, anyway?

    Well, it's a nice place, anyway: I think we can agree that it's not actually a "country" per se? Unless its sovereignty-status has suddenly changed while my back was turned ... :sneaky:
    #23     Apr 8, 2018
  4. I am a trader and i have traded in many countries far more than this but for vacation i have gone to not less than 30 countries,Miami is my base i have leave there virtually all my life
    #24     Apr 8, 2018
  5. Xela


    Leave there? Must have done, if you've travelled so much, I'm sure. Thanks - welcome to ET, anyway. I was just mentioning, in my clumsy way, that Gibraltar's actually a British overseas territory, not a country.
    Last edited: Apr 8, 2018
    #25     Apr 8, 2018
  6. dealmaker


    Just in case Gibraltar plan doesn't come to fruition, Guernsey or Jersey might be a good second choice. Channel islands have many hedge and fund of funds thus I'd imagine trader friendly.

    Last edited: Apr 9, 2018
    #26     Apr 8, 2018
  7. luisHK


    Not sure you guys are discussing the right issue when it comes to Portugal, a more obvious problem is :

    "it is important to note that capital gains from the sale of securities will be taxed "

    This is from the link posted above, but from memory I gathered the same information from more serious sources. It doesn t matter whether it is local or foreign income, there doesn t seem to be any exemption for sale of securities. i'll be happy to be proven wrong though
    #27     Apr 9, 2018
  8. luisHK


    I'd probably feel more at home in Gibraltar with the strong Spanish influence, but thanks for the heads up, it seems to tick several of the boxes I need. Personal income tax is 20% in jersey and no cap gain tax. I found that link from the Jersey tax authorities , quite interesting, note :

    Buying and selling shares
    If you are just buying and selling for yourself with your own money it is unlikely that you are trading. This is more in the nature of speculation or gambling. Established traders in shares and other financial derivatives work to limit the exposure to chance in a variety of ways. As well as having customers who they sell to and buy from, a trader will:

    • quote prices that will be spread to achieve profits
    • make profits by dealing quickly in large volumes
    • limit their exposure to market movements by 'hedging' with derivative instruments
    • have to follow strict rules about risk exposure
    Therefore, while a share trader does buy and sell shares which may make a profit or loss from market movements, it is not the only way they seek to make a profit. This is only a small part of a far more complex trading operation.
    #28     Apr 9, 2018
    CSEtrader and dealmaker like this.
  9. FWIW I talked to 2 British traders many many years ago. They both traded from, an office in Gibraltar, but one lived in Esteponia and 1 in Marbella and they commuted daily; as they found Gibraltar a bit boring to live (or more likely their wives) I don't know their personal setup (prop, or through a gibraltar llc or something like that would be my guesstimate)
    On another note: have you thought about Andorra? Low taxes, clean, high standard of living, great skiing in the winter and a 2 1/2 drive to Barcelona for the weekend. I lived in Barcelona for a year and enjoyed many weekends in Andorra.
    #29     Apr 9, 2018
  10. luisHK


    Mixed feelings about Andorra, it doesn't sound too bad to live in but the memories I have of it are that of a huge supermarket where herds of french and spanish folks go to buy cheap alcohol and tobacco, plus it is more difficult to organize at short notice, english speaking school and immigration wise.

    Besides living in Spain while enjoying Gibraltar taxes seems to have grown harder, i suspect it's a no go for someone with children of school age.

    I sent an email to 2 law offices in Gib, will report here if they reply.

    Curious to read about any trader living in Jersey, i went through the residency information and it does look as easy as hoping on a boat with one's luggage from the French coast, register at the official department to get a ssn (although one has to pay in full for all their medical needs for at least 6 months), tax number and soon a public school for kids, in case it's too late to get space in the private schools. Gibraltar is similar if one doesn't go the Cat 2 route. Our next move will depend on Mrs as well, probably won't be sure of it until I do land in one of those places along kids and suitcases.

    I'm wondering about the "unlikely" bit in Jersey tax department website. Will one get taxed if they make significant coin ?
    Last edited: Apr 9, 2018
    #30     Apr 9, 2018