Moving to singapore or dubai for trading

Discussion in 'Professional Trading' started by rajaalifx, Jun 7, 2012.

  1. I don't live in Chicago -- I'm in NYC -- but I can't imagine you could get by on 30K there and my guess is 50K is not even living medium ... never mind large!!

    My guess is a guy from Chi thinks of $40,000 to $50,000 as a pretty good deal for Dubai.

     
    #11     Jun 11, 2012
  2. I'm talking about rent, basic utilities, requirements etc... The nicer/large 1bdrm apartments here go for about $32k a yr in good areas, add the cost of other basic necessities and your're up to 50k, not including anything else... If you're talking about income, it doesnt make sense to move here unless you will be netting $100k or more
     
    #12     Jun 11, 2012
  3. So $2,500 or so for rent ... etc., etc. OK, now it makes sense. It is like big city America up North as opposed to the sun belt which can be done for a bit less.

     
    #13     Jun 11, 2012
  4. Thanks for the feedback everyone. I didnt considered thailand as on option but now that you mentioned i will keep that in mind. Anyone has any experience with Malaysia?

    My family is originally from india and i would like to stay a place which is 3-4hrs flight to india. Both Dubai and Singapore are couple of hours away from india.

    Now i could consider settling in india but lets just say 10yrs in miami and 1 yr in chicago has spoiled me enough that going back to indian lifestyle will be next to impossible.

    Im looking for a place which is comparable to first world country in living standards, have a stable political environment and friendly people.
     
    #14     Jun 12, 2012
  5. kandal

    kandal

    You seem to be suggesting that because 1US$ buys S$1.28 that somehow everything is going to be cheaper there. You simply could not be more misinformed and I find it incredible 'a trader' could believe such nonsense. Singapore is one of the most expensive cities in the world to live, only public transport and eating basic food in one of the ubiquitous food courts is cheap.
    Malaysia is much cheaper (cars are pricey)and the infrastructure is pretty good. You could rent a nice condo for $1000 per month. I spent 7 years there just taking a trip every 3 months to renew my tourist visa and never had a problem with immigration.
     
    #15     Jun 12, 2012
  6. why go to to Dubai ? Have you read the numerous accounts of those who run afoul of the regime's laws and could not get out of the country?

    Frankly the best place to trade is Europe, you can trade the world from there, no crazy schedules. Your only issue is taxes, but there is Monaco and some other places where you can minimize them and run another business to get your visa.
     
    #16     Jun 12, 2012
  7. gmst

    gmst

    This is useful information. Can you please shed more light on the advantages of settling in Monaco and what are the procedures. How much is the tax-rate? and how do you setup the business to get a visa? What kind of business it has to be? Can't you set up a trading firm business to get a visa? Thanks for information!
     
    #17     Jun 12, 2012
  8. AK100

    AK100

    Forget about Monaco unless you have serious money.

    Traders don't need work visas or anything like that. Just fly to a country, rent an apartment for 1-2 months, see if you like it, if so stay. Maybe you'll have to fly out every 3 months to extend your tourist visa but that's it.

    It really is as simple as that, assuming you work for yourself and don't want a job within a company.
     
    #18     Jun 12, 2012
  9. mm19

    mm19

    why would anyone live in monaco, except criminals??!?!?! lots of bad spirits there.
     
    #19     Jun 12, 2012
  10. Well i was talking in general about cheaper currencies. Yes singapore is expensive (i bet not more than tokyo though). Im just looking at different options at the moment. Thanks for the info on malaysia. i will look into it. Did you got a chance to rent or own a vehicle there? I mean can a tourist rent a condo? I plan on paying down a good chunk of rent in advance.

    Im very serious about making a move in 8-9 months. My budget is $50-60K yearly.
     
    #20     Jun 12, 2012