I am sooo jealous of you non Yanks. You can just move and not pay taxes. We can't do that. They will tax us anywhere on the planet, except US territories (but then pay tax there). As for Mexico, I know it well since I was raised in Cal. Parts can be sketchy, but most of it is very safe, especially Baja. If you need warmer water, go to the east shore (Sea of Cortez). Its in the mid 70's. Loreto is cheap as hell and a really cool town. La Paz is the big city, but not really that big, and super fun. As for the work hours, I think the west coast is perfect. Yes, you have to wake up early, but get every afternoon off for outdoor sports/activities. Well, maybe for you east coasties that isn't important considering you have horrible weather, no mountains, no waves, and crappy rivers. Out west it is an issue though.
Just a note of cold water: Most, if not all, of these countries can and will change laws by decree, over nite....your funds are frozen on Mon morning... US taxes on long term cap gains of 15% is pretty low.... Short term is viewed as a "salary", no different than operating a shoe store...buying shoes (stocks) at wholesale, selling them at a higher price, paying expenses and booking a profit that you pay taxes on.... To me it is foolish to risk all to avoid a small tax..... SteveD
I agree Steve that's your money being nationalized is a valid concern, although not much of an issue IMO. The Pres. of Panama is very US friendly, Torres I believe is his name. Mexico just elected an anti-American Pres., but with the close proximity I don't see them nationalizing anything. Venezuela is a whole other ball game, but we can collectively agree that the we could see that coming for over 5 years. What I am saying is that type of change is not going to happen overnight, there is writing on the wall.
True, but some US territories are better than others when it comes to tax treatment.. http://www.elitetrader.com/vb/showthread.php?s=&threadid=91096
Yep, I know this. Ya wanna live in a contry where you can't even go out for a drink without being mugged. Welcome to ST Croix.
Ha, sorry didn't notice you were the same guy who started that thread. Definitely don't waste your time in St. Croix, but the other islands are nice and no crime problems (that I've heard of).
For IB customers.Can anyone comment if there is any advantage/disadvantage as to where your account is located?With IB there are three choices?Europe,US or Hong Kong?If a customer arrives in Hong Kong and askes for their account to be transferred there is there any problem?
I don't see this as an issue, keep money in switzerland or austria like Pita is doing. They can change the laws all they want and can't get at your money. Best regards, MK
No advantage as far as I know. My IB account is in Citibank Germany and they still made me fill out the ridiculously invasive USA tax forms. Kind regards, MK