Hello folks, I mostly trade options on currency futures, kospi/dax/ftse futures and basically on desk from 7pm to 9am in morning. I was wondering what are the visa requirements for someone to operate his trading from another country. I was thinking of moving to a country which is situated in middle of these time zones so i can trade during day time plus the currency is cheaper than US so the living expenses will be less. Im not talking of getting a permanent residency or setting up a business there. Just like i work from my chicago apartment i want to work from a dubai apartment. Did anyone heard someone else doing this or have any similar thoughts? I would like to know the visa requirements. Thanks
I live and work in dubai, cost of living is going to be higher than you would think, and possibly more than Chicago (depending on how you live). I would say a fair estimate would be minimum $25-30k a yr to a maximum reasonable cost of $50k. Less than 30k and you are really cutting it tight.... I would suggest Thailand for low cost of living with decent infrastructure. Dubai is no longer a cheap "frontier" economy, while real estate did boom and bust, you have 3x as much supply with prices that are only 30-40% off their boom-time highs. With that said, i live on the Palm island, and wouldnt trade being in Dubai for anywhere else!!
Hello rajaalifx, Depending on your citizenship, you can come in to Dubai on a tourist/visitor visa, and find someone to stay with I suppose. But in order to rent your own accommodation, and then set yourself up with internet connection, telephone, driving licence etc, you'll almost certainly be asked to show a "residence visa". Read up my posts here on this thread (http://www.elitetrader.com/vb/showt...43564&perpage=6&highlight=samri&pagenumber=14 ). Most of the info is about setting up your own business. Also check out www.DPTG.com they probably can help minimize the cost of doing so.
Why? I always used to think Dubai was a great place to reside, but the cultural differences and local laws does not make it seem like it would suit me.
Both places way too hot for me. my ideal temperature is 60 degrees year round. Fahrenheit. or 15 celcius
If I had a choice between Singapore or Dubai, I think I will choose Singapore. Both places are hot as heck, but I think it is safer in Singapore and I enjoy chinese food much more. However, if you plan to vacation in Europe, then it is much faster from Dubai. But if I was in Singapore, I would probably jet up to Thailand or Bali/Fiji. Those are the places I will want to spend my profit.
Doesn't Dubai have debtor's prison? I think visiting Dubai would be nice, however. visiting. i vote singapore as well (from the few options seen) but if you want to be the best trader, maybe get a place right next to the exchange and stare at your computer 24/7. if you like quality of life..... see above.
Wilburbear, The Palm always makes you feel like you are on vacation when you go home... I'm also very much into water sports, so access is great and I can get a workout / paddle in before heading to the office in the morning. Finishing for the building I live in is also probably the best i've seen in Dubai except for a couple building in downtown (burj) area. And finally the population is heavily expat, so you never will get complaints for having a house party late. I am a former institutional trader by profession, now trade my own capital part-time with enough time to have a career not related to trading during the day (US market hours are 5:30pm-midnight or one hour later in the winter). Dubai has its drawbacks, especially with regards to raising kids, as mine grow older i'll probably move back to the states or somewhere else...