Moving offshore

Quote from Jrmarketwizard:

There are problem with looking for a jurisdiction to live from purely a tax reason is that you end up comprising on many aspects that would be needed to maintain a certain quality of living.

For examples, Bahamas is incredibly unfriendly island towards non Bahamians, now if you're just visiting as a tourist you'd notice very little. But prolonged stays you start to realize Bahamians will always service locals before you regardless whether you've been waiting in line for an 1hr before the local resident.

Also the cost of food is ridiculous. 8 dollars for a slice of pizza.

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In many visits to the islands of the Bahamas, the locals were friendly and welcoming. Their economy relies on tourism, so they have to show a degree of hospitality or people would not return. True that they may look after their own before you, but there is not a feeling of animosity toward outsiders in my experience. Nassau is the only place I have been that displays negative characteristics, and it is but one of 28 uninhabited public islands (there are over 700 in the entire country/island chain). The food and drink are a bit more expensive than the US (nearly everything must be shipped or flown in), but prices are closer to 3 dollars for a slice of pizza than 8, and beers are just over a dollar at a market. I don't know a lot about the tax laws, but the government is both independent and stable, the sights are beautiful, the people are friendly, there is plenty to do, and it is very close to Florida as well as the Caribbean.
 
just move to a state (and community) that charges less tax, you are already ahead of the game.

But then, you are probably getting less amenities in return. e.g. library, pool, parks, etc.
 
Quote from Tums:

just move to a state (and community) that charges less tax, you are already ahead of the game.

But then, you are probably getting less amenities in return. e.g. library, pool, parks, etc.
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I already did that just trying to expand my horizons. I moved from CA to CO. Cut my taxes in half. Funny think though our local school district is rated much higher, Douglas County, than Costa Mesa ( Newport-Mesa Unified ), even though taxes for property are about the same.

Everything has it's pros and cons though. This last year has been a rough year for weather. 2 days ago its' 25 degrees while I am talking to my Dad in Laguna Beach where it's 63 at that point. It's all good though. :)
 
Quote from saxon22:

You are making a good point. Is it really worth it to go to all that trouble for couple of thousands extra in your pocket??? I doubt it!:D
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It's not just the savings for me. I am not a big fan of the loss of Privacy, dollar decline, political climate in the US, etc. I would also like warm water to swim in and better assest protection, and reasonable cost of living relative to where I could afford to live.

If it's just about money, unless you are making 7 figures, I agree it's probably not worth it.
 
Quote from Pita:

Hi,

I can daytrade without problems though in very rare cases the connection was down due to blackouts caused by bad weather. This is the really exception and one using bracket orders and has a mobile phone to call his broker available is as safe as anywhere else.
On the other hand I have no comparison to what kind of speed and reliability you are used to. Nevertheless that stuff improves fast in quality and price due to competition and new technologies.

Not being an expert here I can link you to the service I use
http://www.islandtechnology.com/
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Pita,

Thanks for the info, trading in Phuket would be great. But what about the property rental, any good website for that?
 
Quote from kashirin:

As I understand a lot of countries don't have tax on capital gains

In canada I have to pay more than 40% of my income

can anybody recommend some nice place with zero capital gain tax and easy immigration?
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Are you referring to business income or capital gains?

In Canada, the highest marginal tax rate on capital gains is 23.3% (high tax bracket)

In the USA, you will probably pay more, unless you are talking long term gains, short term you don't get beneficial treatment.

In Italy for example, currently 12.5%, going to 20% May 1

Canada isn't that bad, if you have a wife and you make 200K a year in capital gain and you income split with her, you will probably come out with about 165K net...obviously zero is better but you may be giving up some benefits by leaving Canada as a resident. Now if you are making millions a year in capital gains, you probably want to find a better alternative and it's probably wise to spend $5-10K and seek professional guidance.
 
Quote from trend_guy:

Are you referring to business income or capital gains?

In Canada, the highest marginal tax rate on capital gains is 23.3% (high tax bracket)

In the USA, you will probably pay more, unless you are talking long term gains, short term you don't get beneficial treatment.

In Italy for example, currently 12.5%, going to 20% May 1

Canada isn't that bad, if you have a wife and you make 200K a year in capital gain and you income split with her, you will probably come out with about 165K net...obviously zero is better but you may be giving up some benefits by leaving Canada as a resident. Now if you are making millions a year in capital gains, you probably want to find a better alternative and it's probably wise to spend $5-10K and seek professional guidance.
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That's interesting feedback. My good friend a full time Canadian trader said there are plenty of write offs for traders just as we have in the US. It depends on how you are set up, such as under a corporation or such.
 
Pita,

Seeing as you are on-site :D maybe I can ask you a few more questions.

- Have you heard much about Koh Samui in terms of Internet and lifestyle?
- Do you remember what it was like when you first moved there? Was it a big culture shock? What did you not like and/or took a while for you to get used to?
- What would you consider reasonable prices for renting? or for buying?
- How is life for you socially? Do you mostly hang out with other expats? Are the thai people welcoming to you? Do you remember what this was like when you first moved there? (I have no idea what is like there, sorry for the maybe silly questions)
- Any idea if you can bring your dog? Will they want to eat it? :eek:

I would be very keen to move from NZ to Thailand. I trade Asian markets already so it would be a perfect move with a better climate and even better trading hours.

Thanks in advance for your reply.

Best regards,
MK
 
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