The Monaco thread

Discussion in 'Taxes and Accounting' started by londonkid, Aug 27, 2015.

  1. Mtrader


    #21     Aug 27, 2015
    lawrence-lugar likes this.
  2. #22     Aug 27, 2015
  3. Yes, this is one of the better kept in France just across the boarder and renting a small flat in Monaco to use as an office for trading. Have not done it but watching and reading this thread because it has amazing potential. In a similar topic I have been reading on the topic of living just across the Swiss boarder in Italy (guessing Italy oversight might be much lower than French Tax authorities) and keeping a small flat in Moritz as an office to trade in/for residency . That might be another great thread if anyone has done it yet. For families with kids I would think private schools would be the answer but you and the family's healthcare may have to be done with Swiss doctors to avoid revealing actual residency
    Last edited: Aug 27, 2015
    #23     Aug 27, 2015
    Alpha Trader likes this.
  4. Mtrader


    I am afraid that I cannot help you because if you want to visit these parties, you should:
    1. confirm that trends do exist
    2. confirm that daytraders make money
    3. confirm that it is possible to predict the trend
    4. confirm that you can make more than 75% winning trades
    You know, these parties are only for successful people. :D
    #24     Aug 27, 2015
    kinggyppo, londonkid and Pricechange like this.
  5. Wow, erudite. I'll be sure to remember this wisdom. Surf
    #25     Aug 27, 2015
    CSEtrader likes this.
  6. londonkid


    Here in the UK we are heavily taxed.

    In round numbers.

    First 10k income is 0% tax
    next 32k is 20% tax
    next 118k is 40% tax
    above that 45% tax

    National Insurance 12% up to 40k earnings 2% above

    capital gains 28% tax above 11k allowance per year if earn more than 42k per annum.

    Thats the biggies out the way. Dont forget the following:

    Council tax (local services) typically £200pm
    Petrol/Diesel - £1.10 per litre - huge tax
    VAT (sales tax) 20% on most items
    Road tax for vehicle, typically £250 p/year
    TV license (stealth tax) £145 pa

    If you start a business then business rates tax on business premises is high. When you employee someone you pay 14% national insurance.

    I would be very interested to know the total % of tax an employee pays who earns 100k and has a comfortable lifestyle. I am sure it is 60%+ taking into account everything I listed above.
    #26     Aug 28, 2015
  7. JTrades


    Wish it was simpler:
    • scrap NI
    • flat rate income tax
    • scrap council tax on per residence basis (everyone uses street lamps and public areas)
    • scrap TV licence
    • scrap road/vehicle tax on a per vehicle basis (everyone uses the roads)
    • increase VAT
    • generally reduce any complexity in the tax system
    #27     Aug 28, 2015
  8. JTrades


    You could also add to the list unnecessary controlled parking schemes. Too many. Should be either a red route or a free-for-all.

    And extortionate rail fares, which are in part a stealth tax, what with a chunk of the ticket price going towards national infrastructure projects.
    Last edited: Aug 28, 2015
    #28     Aug 28, 2015
  9. JTrades


    * Still at least 10 trades away from setting up in Monaco...
    #29     Aug 28, 2015
    londonkid likes this.
  10. irniger


    An alternative to Monaco is Zug in Switzerland. Suggest trade via a Zug company, tax max 15% net. Personal tax max 22%. Cost of living in Zug lower than Monaco and living quality much better. Rents in Zug 40% lower. Monaco is a loud and stinky place bearable only on weekends. Lots of young and middle age expats and international people in Zug, easy to get into contact with. Monaco mainly older folks. Contacts with other traders via and Traders with family and kids much better off in Zug.
    #30     Aug 29, 2015