A lot of people run online business and travel the world. This is quite advantageous because many countries will not tax foreign income (no advantage to a US citizen though). Has anyone tried this out? Sounds like a great idea. Biggest downside I can think of is that you have to trade with only your laptop screen, which can be severely limiting depending on how you trade.
Living as a nomad
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This is my style, and I've been travelling for some years now. If you can't trade from a worst case scenario computer, rethink your system!
I've done it, it becomes a big pain in the neck after a couple of years imo. I don't concur on the laptop argument, if you make enough you could easily buy a desktop and donate it to charity or store it till you come back or buy a powerful laptop from which you can run two huge screens. The biggest downside for me was leaving friends and cut yourself off from your social circle for an extended period, not to mention the problems you will have in the EU with buying cars, boats and motorcycles. Also the tax authorities will screen you to the bone and try to prove you're residing somewhere. I recall a case about an elderly couple, that travelled through Europe by camper all year round. The judge ruled that they had to be considered to reside in Holland, cause they had children there, that they visited regularly and they had a mobile phone subscription from the Netherlands. I guess this lifestyle will work best for the ultra-wealthy that travel the world in packs, although for them it's not a means to an end.
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Would it be easier traveling whilst trading through an offshore company?
Netherlands seem to be particularly picky about residency definition, most countries define it if you spend more than 3 months or 6 months continuously in a year.Could you elaborate on why its hard to purchase boats/cars etc? Would also appreciate any advice. Im fine trading with my laptop alone its a bit uncomforatable, but I trade oil exclusively for the moment some guys look at intermarket relationships and what have you and use a ton of screens. Anyhow it sounds appealing to me never, know if youre gunna like it do you do it
Residence rules
For the purposes of taxation, how is an individual defined as a resident of the Netherlands?
Residency is determined on the facts of each case. The following facts are taken into account (not limitative):
Netherlands seem to be particularly picky about residency definition, most countries define it if you spend more than 3 months or 6 months continuously in a year.Could you elaborate on why its hard to purchase boats/cars etc? Would also appreciate any advice. Im fine trading with my laptop alone its a bit uncomforatable, but I trade oil exclusively for the moment some guys look at intermarket relationships and what have you and use a ton of screens. Anyhow it sounds appealing to me never, know if youre gunna like it do you do it
Residence rules
For the purposes of taxation, how is an individual defined as a resident of the Netherlands?
Residency is determined on the facts of each case. The following facts are taken into account (not limitative):
- the nature of the stay in the Netherlands
- the length of stay
- where the family lives
- the individual’s center of economic interests
- the individual’s intentions
- whether or not the individual is registered in a municipal register
- the place where bank accounts are held
- the place where the person’s assets are located
- the terms of his/her employment.
Would it be easier traveling whilst trading through an offshore company?
Netherlands seem to be particularly picky about residency definition, most countries define it if you spend more than 3 months or 6 months continuously in a year.Could you elaborate on why its hard to purchase boats/cars etc? Would also appreciate any advice. Im fine trading with my laptop alone its a bit uncomforatable, but I trade oil exclusively for the moment some guys look at intermarket relationships and what have you and use a ton of screens. Anyhow it sounds appealing to me never, know if youre gunna like it do you do it
Residence rules
For the purposes of taxation, how is an individual defined as a resident of the Netherlands?
Residency is determined on the facts of each case. The following facts are taken into account (not limitative):
From http://www.kpmg.com/global/en/issue...-executives/netherlands/pages/income-tax.aspx
- the nature of the stay in the Netherlands
- the length of stay
- where the family lives
- the individual’s center of economic interests
- the individual’s intentions
- whether or not the individual is registered in a municipal register
- the place where bank accounts are held
- the place where the person’s assets are located
- the terms of his/her employment.
Residency definition is indeed decided by more factors than days of stay alone in the Netherlands.
Registration of vehicles and the like to your name requires residency in the EU. You can buy a car as a non-resident, but you can't get a licence-plate and are not able to drive it in Europe for more than a limited period.
If you want to travel residency in the Netherlands is an excellent choice, imo. Buy a small pied a terre and you're set.
Registration of vehicles and the like to your name requires residency in the EU. You can buy a car as a non-resident, but you can't get a licence-plate and are not able to drive it in Europe for more than a limited period.
If you want to travel residency in the Netherlands is an excellent choice, imo. Buy a small pied a terre and you're set.
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Trailer living is a fast growing phenomena in America. The aging baby boomers who have become jaded with real estate are looking more to a life on the road.
I have spent weeks camping in the New Mexico desert. I have to admit that I find the it "enchanting". Unfortunately, the best and most remote locations are closed off for military use.
Additionally, I have investigated various nationwide high speed internet services but most have patchy service.
I have spent weeks camping in the New Mexico desert. I have to admit that I find the it "enchanting". Unfortunately, the best and most remote locations are closed off for military use.
Additionally, I have investigated various nationwide high speed internet services but most have patchy service.
I think internet speeds are overrated if you aren't doing HFT.
I quite like the Netherlands all depends if my earnings would get taxed as capital gains and I've heard its a bit ambiguous with short term trading I'd need a professional opinion on that.