Luis we have talked about this many times. I'm not willing to live in a country where sex outside of marriage is illegal and comes with a hefty jail time. I never said that there is a religious police or that they're actively spying on your sexual life. All I said is I'm not willing to take that risk. Btw I agree with you, this guy (Mtrader) is a nonsense. I don't know where he reads all that BS but never heard such crazy things.
Best Country for Trading (Tax efficiency)
- Thread starter ET873
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Luis we have talked about this many times. I'm not willing to live in a country where sex outside of marriage is illegal and comes with a hefty jail time. I never said that there is a religious police or that they're actively spying on your sexual life. All I said is I'm not willing to take that risk. Btw I agree with you, this guy (Mtrader) is a nonsense. I don't know where he reads all that BS but never heard such crazy things.
Another guy who doesn't know what he is talking about.
Q: "How please can my robot open a brokerage account"
A: Why should your robot open a bank account? You open it
Q: "how can I open a bank account to feed the broker account from"
A: If you live in a territorial tax country then just open a foreign bank account for yourself or for your LLC
Q: "what will my robot put into the w8BEN form"
A: Why should your robot put there anything? You just fill it out, you won't have any taxable income from the US. A non resident's money market trading income is not taxable in the US if it's not connected to a physical place of business in the US.
Q: "where they now ask for your tax ID and tax authorities?"
A: Don't even understand what's your issue here. You just open a bank account and a brokerage account with your passport and with a proof of address (ie. utility bill or a bank statement from a domestic bank)
Q: "And before you park your money in a corporate setup:"
A: LTDs are totally different than LLCs, LPs and LLPs because LTDs pays corporate taxes while the others doesn't. I know, it's possible to say that your LLC wants to pay corporate tax in the US but that would be a st*pid thing to do.
Q: "It`s not your money anymore, the company may have a surprising fate and you might lose control of it under foreign laws faster than your educatedb guess thought possible."
A: Such a nonsense. Move to ie. Malaysia, open an LLP in Singapore, open a bank account for it in a country where you can, let's say in Hong Kong then open a forex brokerage account in let's say Australia, rent a server in Dubai for your LLP, run the code from the server and that's it.
If you don't understand this then I guess you both either don't want to understand it or I have no other idea. Anyway, visit KPMG, PWC or Deloitte. They'll be happy to tell you that this is the way it works.
[ Needless to say, this doesn't work if you're an American citizen ]
Sure, it was Mtrader who mentionned the religious police, it was some paragraph about the risks faced by tax exiles, between alien abduction and ending up stranded on the greek macedonian border without a passport.
Besides, that you don't want to take the risk (non materialised for all non muslim expats except the few girls who complained to the police of rape ) is fine, some laws in UAE look particulary agressive to western eyes, but repeating again and again that one can't get laid in Dubai outside wedlock not so much, and very far from the reality.
Not only it has a large population of single male and female expats who date each other, but it has llloooooooooooooooooooooooooooooooottttss of hookers and girls looking for sponsor from all over the world, you mix this with a vibrant business scene and it's actually a city overeas married men enjoy going to get laid (and do business, or tell their wife they do).
Besides I heard about some muslim menial staff getting in troubles for adultery but the muslim visitors I noticed in Dubai behaved very much the same rather naughty way.
Besides, that you don't want to take the risk (non materialised for all non muslim expats except the few girls who complained to the police of rape ) is fine, some laws in UAE look particulary agressive to western eyes, but repeating again and again that one can't get laid in Dubai outside wedlock not so much, and very far from the reality.
Not only it has a large population of single male and female expats who date each other, but it has llloooooooooooooooooooooooooooooooottttss of hookers and girls looking for sponsor from all over the world, you mix this with a vibrant business scene and it's actually a city overeas married men enjoy going to get laid (and do business, or tell their wife they do).
Besides I heard about some muslim menial staff getting in troubles for adultery but the muslim visitors I noticed in Dubai behaved very much the same rather naughty way.
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I'm 101% sure in that many people do have sex in Dubai, outside of marriage. The government is not spying on the residents to check whether a Bulgarian girl and a Croatian man had sex or not. They don't care as long as there isn't any complaint against them, I know. What I'm personally worried about is what if another dude is envy of my lifestyle and files a complaint just to piss me off. For instance he sees that I live in the Burj Khalifa, wear a Rolex and drive a Lamborghini and I take home a gorgeous blonde Russian girl that I picked up in a local bar. What is he going to do then? He either works harder or just calls the police and says that I've taken home a woman. Now the police is obligated to investigate and then we're in trouble.
So it's not the system that I'm afraid of but the people. In my experience people can do crazy things when they're angry/envy. You can call me paranoid but I could tell you a couple of stories...
Anyway, you're right about Dubai, but I'm still afraid because people are unpredictable.
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It happens that Dubai is one of the few cities in the world where this behaviour and display of wealth are commonplace, and doing a google search, while foreign news outlets seem to enjoy going over what they consider outrageous arrests in Dubai, not one westerner appears to have been arrested for sex outside wedlock (except the raped girls, and some who displayed too much affection in public places)
You are right to worry about the people but with such display of wealth you will probably be more at risk in countries where whereas it is legal, the population is much poorer than in Dubai and criminality is higher.
If you prefer to pick up girls in sports car while wearing luxury items and lots of cash on you in Bulgaria or Hungary (or Malaysia and Philipines for that matter, all countries thatb we mentionned in this thread) than in Dubai, be my guest, but it doesn't sound safer.
Monaco, Singapore, Hong Kong and probably Bahamas offer both the safety and more progressive laws, so they'd probably be a better choice.
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It is funny how arrogant you are. I know who Hittfeld is and I know he is real and knows what he is talking about. I cannot say more as Hittfeld's information is private.
Believe me, he is a professional that knows much more, FROM REAL PRACTICE AND PERSONAL EXPERIENCE, then you.
You are fake and you never traded fulltime as a professional, that is clear.
Even your information has to come from third parties. You don't impress me with PWC, KPMG or Deloitte. I know these people from my previous professional career.
All I can say to you, the two experts, is that:
All these manipulation and cheating is useless. And how can you spent your robotmoney that you officially don’t have? Will your robot buy a house, a car and go on holidays?
Next time you go to PWC ask them to explain you FATCA. And ask them to show you all the information you have to give. They don't accept perpetual travellers nor robots.
- I live now in a low tax country and pay 6 times less taxes, all this in a legal way.
- I did not have to cut any ties with my native country.
- I still have my native ID card and passport.
- I don’t need to use robots to trade.
- I don’t have to become a perpetual traveller.
- I can freely travel all over the World without any passport or other problems.
- My W8BEN is filled in correctly.
- My “Construction” was verified by PWC.
All these manipulation and cheating is useless. And how can you spent your robotmoney that you officially don’t have? Will your robot buy a house, a car and go on holidays?
Next time you go to PWC ask them to explain you FATCA. And ask them to show you all the information you have to give. They don't accept perpetual travellers nor robots.
Uh, pretty much the same here, except I did not use PWC to verify the set up, and I pay 0 income or capital gain tax (but much in various consumption taxes, besides some basic costs much higher than back home ),
Besides keeping than renewing one's native country ID and passport is no issue if you don't have criminal claims in the said country, nothing to brag about.
A poster a while back on this thread mentioned the gray areas of offshore set ups, how it is open to interpretation and challenge by various tax authorities, good post ( it wasn't Mtrader nor dw's post, forgot who it was)
DW, could you please elaborate on which of these entities are the best for day-trading company? Also few pages ago you mentioned that LLC can be useful in prenup arrangement. Could you be more specific?
Sorry to bother you with all these questions, I'm quite ignorant in all of this. Been trading for ~10 years now, but only lately started seeing consistent results. So Im in search of good place / structure to trade.
Thanks again for sharing the knowledge!
Dw, you seem to know all the answers. If I open a foreign bank account, due to Automatic Information Exchange this account will be known to my fiscal authority.
But try to open a bank account (not a savings account) as a NRA (non resident alien) in a foreign country (online and dev. country) with your passport and utility bill!!! When did you last apply for such an account in the US, or UK, or NL, or CH or even Singapore? Good luck! Ever tried to open a broker account with TOS in the US (being EU resident) or UOB (Singapore)?
Thanks
But try to open a bank account (not a savings account) as a NRA (non resident alien) in a foreign country (online and dev. country) with your passport and utility bill!!! When did you last apply for such an account in the US, or UK, or NL, or CH or even Singapore? Good luck! Ever tried to open a broker account with TOS in the US (being EU resident) or UOB (Singapore)?
Thanks
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