Do not underestimate the power of a government.... If they can't get your money, they will get you.... I used to deal with wealthy Italians...they would not talk on the phone....sorry, wrong number....they would then go over to Lugano, Switzland and call me back....govt tracked their funds.. Carlo Ponti, a very famous Italian film director, wife of Sophia Loren spent some time in jail for "currency violations"... It is never an issue until "there seems to be a problem with your papers", LOL.... Good luck SteveD
Does anyone know if short term trading profit (not capital gain) is subject to taxation for a foreign account?
Sorry, but I didnt follow this thread for a while. I live in Phuket, the biggest island, and I trade from there, yes. Internet Connection is ADSL, Broadband or via Satellite. (I use broadband). Taxation is not an issue anymore though it was never the kind of problem like for you guys from the US it seems to be. For me it would have been enough to spend more than half of the year not in Austria to escape the taxman. The point why I moved my money to Switzerland was rather driven by the desire for anonymity in case that one day I would decide to get back. I live in Thailand now for 11 years and dont think that I will ever leave again. Nice, cheap, secure country with good infrastructure. Climate is excellent. Cheers
Pardon me for asking a redundant question but, do you really get good, reliable, high speed internet there? I had heard from traders on this forum that power and internet are issues in Thailand that aren't as reliable as day trader needs. I can imagine how warm the water is there now. It's 25 degrees outside here in Denver! I shouldn't complain it was 70 degrees only 2 weeks ago.
Hi, I can daytrade without problems though in very rare cases the connection was down due to blackouts caused by bad weather. This is the really exception and one using bracket orders and has a mobile phone to call his broker available is as safe as anywhere else. On the other hand I have no comparison to what kind of speed and reliability you are used to. Nevertheless that stuff improves fast in quality and price due to competition and new technologies. Not being an expert here I can link you to the service I use http://www.islandtechnology.com/
Thailand is a great place for a holiday but internet speed and reliability do leave a lot to be desired from my experience. A leased line is an option but not cheap. Singapore and Malaysia are both better options and easy to get to Thailand if you ever feel the need.
We lived in Thailand for 8 years, Internet was flaky then. But what made up our minds to move to Panama was the time zone, property ownership laws, US$, language and proximity to a whole new continent which I had never lived in. Not to mention zero capital gains tax. I hated trading in the middle of the night in Asia, but loved everything else about it.
You are making a good point. Is it really worth it to go to all that trouble for couple of thousands extra in your pocket??? I doubt it!