Whether it is low oer not, depends of how your net assets are composed. For exampe if you only trade 25% of your net assets and put the rest in a second house or a savings account, you pay 5.39% on 4 times your trading account, as you only use 25%. So the real taxation of your trading is then 4 times higher. In that case the Bulgarian flat fee of 10% is cheaper as they only tax your profits, not your assets. And if you really make good money like over 1 million a year, the Italian special taxation of flat 100K, no matter how much you make, is the cheapest. So there is no overall cheapest taxation. Also cost of living, healthcare... can make a difference. In Monaco you pay no taxes put buy or rent a flat is hugely expensive and will be more expensive then paying taxes for most people You should first clearly analyze your total financial situation and kind of income before you can try to find out what is the best solution for you.