What can i do in a legal way i whant to reduse or skip paing taes at all. I have had thougts about som trust solutions and maybe offshoure. Anyone that knows som legal way by the way i live in sweden. Regards
Bahamas. P.S - I'm sure there a lot of people here who know what to do. But I'm sure they'll be tight lipped about a subject like this. I'm also interested in legal methods of protecting assets.
Sure, there are number of legal ways to avoid insane taxation like in sweden. However, i'd recommend you to contact some professional people in this matter - there can be costly mistakes otherwise. One firm come to my mind is Ocra, though there are others too. One fast and easy solution to you might be that you start business in Estonia - not too far from sweden. But of course, it depends what you exactly do. Btw, i live in Finland (and suffer oh-so-excess-taxing) so I can really sympathise your problem.
Like i Sad I have thinking offshore whit a trust but it is expensive to start one up. One other thing i have been thinking of is get membership in some other contry like bahamas or maybe lishtenstein or somthing then i still can live in sweden half the year. but im not shore i think sweden will still have me to pay taxes for some years. finland is a better country in many ways then sweden political and taxes is a little better also 28% i think. Regards.
If i'm not mistaken, Estonia has flat tax of 18% (or was it 16%?), excluding business profits that you reinvest in your business - in that case you don't pay any taxes. Seems reasonable to me.
I wonder if any other traders have taken up on the idea to trade from an Estonian Company. The bahamas sounds expensive to do legal paperwork and what not. It should be too expensive to simply incorporate a firm there or set up a subsiduary there for the luxury of a tax haven. It seems alot of traders wouldnt make money unless they found offshore tax ports to trade out of. I worried about this because I plan on trading an automated or 90% automated strategy next year, and with taxes or 35%, It may not justify itself. Eventhough I have a separate company set up to trade it, Im not sure at what rate businesses in Canada get Taxed on speculative income.
Make sure there is NO money in Estonia, because you risk to be "taxed" at 100% by criminals. Take an offshore at the British Virgin Islands (1000-2000$ costs)or move to Monaco.
Let your accountant worry about the taxes. I personally set up a tax structured corporation for my trading. Personally I think when people overide there system and the right time to sell or buy b/c of taxes, its a mistake. Look at all the people who didnt want to sell during the internet boom, now look what kind of tax situation they have now. focus on the trading and research, and let your accountant worry
well the accountant can't really help you when you are forced to give 50% + of your profits to the govt. Has anyone thought about getting on a plane to Hong Kong, opening a bank account and Hong Kong based corp. funded with the equity to be traded then open a Hong Kong based IB account? That's if Hong Kong is still tax free. Low taxes is a serious matter for traders if you want to survive in increasingly competitive markets. You think markets suck now? wait till the Chinese and Indians get online. There is just so much pie to go around.