Moving to singapore or dubai for trading

I don't live in Chicago -- I'm in NYC -- but I can't imagine you could get by on 30K there and my guess is 50K is not even living medium ... never mind large!!

My guess is a guy from Chi thinks of $40,000 to $50,000 as a pretty good deal for Dubai.

Quote from dxbtrader:

I live and work in dubai, cost of living is going to be higher than you would think, and possibly more than Chicago (depending on how you live). I would say a fair estimate would be minimum $25-30k a yr to a maximum reasonable cost of $50k. Less than 30k and you are really cutting it tight....

I would suggest Thailand for low cost of living with decent infrastructure. Dubai is no longer a cheap "frontier" economy, while real estate did boom and bust, you have 3x as much supply with prices that are only 30-40% off their boom-time highs.

With that said, i live on the Palm island, and wouldnt trade being in Dubai for anywhere else!! :D
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Quote from Swan Noir:

I don't live in Chicago -- I'm in NYC -- but I can't imagine you could get by on 30K there and my guess is 50K is not even living medium ... never mind large!!

My guess is a guy from Chi thinks of $40,000 to $50,000 as a pretty good deal for Dubai.
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I'm talking about rent, basic utilities, requirements etc... The nicer/large 1bdrm apartments here go for about $32k a yr in good areas, add the cost of other basic necessities and your're up to 50k, not including anything else... If you're talking about income, it doesnt make sense to move here unless you will be netting $100k or more
 
So $2,500 or so for rent ... etc., etc. OK, now it makes sense. It is like big city America up North as opposed to the sun belt which can be done for a bit less.

Quote from dxbtrader:

I'm talking about rent, basic utilities, requirements etc... The nicer/large 1bdrm apartments here go for about $32k a yr in good areas, add the cost of other basic necessities and your're up to 50k, not including anything else... If you're talking about income, it doesnt make sense to move here unless you will be netting $100k or more
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Thanks for the feedback everyone. I didnt considered thailand as on option but now that you mentioned i will keep that in mind. Anyone has any experience with Malaysia?

My family is originally from india and i would like to stay a place which is 3-4hrs flight to india. Both Dubai and Singapore are couple of hours away from india.

Now i could consider settling in india but lets just say 10yrs in miami and 1 yr in chicago has spoiled me enough that going back to indian lifestyle will be next to impossible.

Im looking for a place which is comparable to first world country in living standards, have a stable political environment and friendly people.
 
Quote from rajaalifx:

Hello folks,

I mostly trade options on currency futures, kospi/dax/ftse futures and basically on desk from 7pm to 9am in morning. I was wondering what are the visa requirements for someone to operate his trading from another country.

I was thinking of moving to a country which is situated in middle of these time zones so i can trade during day time plus the currency is cheaper than US so the living expenses will be less.

Im not talking of getting a permanent residency or setting up a business there. Just like i work from my chicago apartment i want to work from a dubai apartment.

Did anyone heard someone else doing this or have any similar thoughts? I would like to know the visa requirements.

Thanks
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You seem to be suggesting that because 1US$ buys S$1.28 that somehow everything is going to be cheaper there. You simply could not be more misinformed and I find it incredible 'a trader' could believe such nonsense. Singapore is one of the most expensive cities in the world to live, only public transport and eating basic food in one of the ubiquitous food courts is cheap.
Malaysia is much cheaper (cars are pricey)and the infrastructure is pretty good. You could rent a nice condo for $1000 per month. I spent 7 years there just taking a trip every 3 months to renew my tourist visa and never had a problem with immigration.
 
why go to to Dubai ? Have you read the numerous accounts of those who run afoul of the regime's laws and could not get out of the country?

Frankly the best place to trade is Europe, you can trade the world from there, no crazy schedules. Your only issue is taxes, but there is Monaco and some other places where you can minimize them and run another business to get your visa.
 
Quote from trade2live:

why go to to Dubai ? Have you read the numerous accounts of those who run afoul of the regime's laws and could not get out of the country?

Frankly the best place to trade is Europe, you can trade the world from there, no crazy schedules. Your only issue is taxes, but there is Monaco and some other places where you can minimize them and run another business to get your visa.
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This is useful information. Can you please shed more light on the advantages of settling in Monaco and what are the procedures. How much is the tax-rate? and how do you setup the business to get a visa? What kind of business it has to be? Can't you set up a trading firm business to get a visa? Thanks for information!
 
Forget about Monaco unless you have serious money.

Traders don't need work visas or anything like that. Just fly to a country, rent an apartment for 1-2 months, see if you like it, if so stay. Maybe you'll have to fly out every 3 months to extend your tourist visa but that's it.

It really is as simple as that, assuming you work for yourself and don't want a job within a company.
 
Quote from kandal:

You seem to be suggesting that because 1US$ buys S$1.28 that somehow everything is going to be cheaper there. You simply could not be more misinformed and I find it incredible 'a trader' could believe such nonsense. Singapore is one of the most expensive cities in the world to live, only public transport and eating basic food in one of the ubiquitous food courts is cheap.
Malaysia is much cheaper (cars are pricey)and the infrastructure is pretty good. You could rent a nice condo for $1000 per month. I spent 7 years there just taking a trip every 3 months to renew my tourist visa and never had a problem with immigration.
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Well i was talking in general about cheaper currencies. Yes singapore is expensive (i bet not more than tokyo though). Im just looking at different options at the moment. Thanks for the info on malaysia. i will look into it. Did you got a chance to rent or own a vehicle there? I mean can a tourist rent a condo? I plan on paying down a good chunk of rent in advance.

Im very serious about making a move in 8-9 months. My budget is $50-60K yearly.
 
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