Here is a link to tax rates around the world... http://en.wikipedia.org/wiki/Tax_rates_around_the_world#List_of_tax_rates_around_the_world
Great thread, stability of the country would be top concern for me. Dont want all you hard earned money "nationalized" one day.
It's funny you folks are against Canada. As per my Canadian friend, he doesn't get taxed capital gains until he brings it in the country. For example, he trades with USD with a US broker and accumulates $$$ with no tax because it is outside Canada. How he gets it in without paying sometimes I don't know? The benefit of Canada over say the US is the US taxes ppl on their world wide income as long as you are a citizen. Canada doesn't. The US allows an exclusion of 80k per person or 160k per couple I believe. Panama is good, CT zone, American friendly, much cheaper for a high rise condo than say Miami. Internet is good there from what I have heard. It's next to the TransPac Fiber network so bandwidth is no issue. 2 sources I use for expat info are Sovereign Society dot com and Escape Artist dot com. I am not affiliated with either. I have considered Panama and even the Slovak Republic, because my wife is from the Czech Republic. SR has flat tax of 17% I believe. I am not advocating tax evasion, seriously, but here is an interesting antedote. My American friend has been like in Ukraine for the last year, trading the US market from there. He makes decent money and hasn't paid there government anything, nor has any checked up on him. They just aren't as sophisticated in FSU countries in regards to catching ppl. not paying taxes. Ukraine has a flat tax too of about 20% I believe. His good friend owns a software co. there and all the employees demand pay in $USD cash and none have been busted for tax evasion. This has been going on for 4+ years. I am not advocating one do this, but it is an interesting fact.
kashrin, why not stay in canada, open an offshore account and trade form canada without paying tax on capital gain?
That's easy to say, but before the US ousted Noriega that's what he did to many $$$ in Panamanian banks. As long as Panama stays US friendly your $$$ should be ok in one of their banks. Another good country to bank in, which doesn't get as much press is Austria.
Agreed, my friend says reading Azbaka, I don't think I spelled that right? , is quite difficult. My wife grew up with it so it's different for us.
For right now, I am just maximizing every tax advantage I can in the good ol' USA right now. I am all in favor of a flat tax, but too many special interests will never allow it. I am surprised about Canada, I was told by my Canadian friend that self employed have many potential write-offs, similar to the US. Now you have me wondering?:eek: I say this because I have thought about moving to Canada in the future.
It should also be noted that there has been alot written on this subject already, so check the search.