Portugal wants you

[d08]

I noticed you didn't reply to @destriero here:

https://www.elitetrader.com/et/posts/5482222

Yeah I'm going to go ahead and call you out on bullshit for the bolded above. Post links to proof.

I'll bet some or all of the following are true: you don't reside in Cyprus, don't trade thru a wholly owned Cypriot legal entity, nor do you utilize a Cypriot broker, and you don't trade companies with majority of it's holdings in Cypriot real estate.

Making your statement incorrect and you full of shit.

I was partially wrong in that Cyprus taxes real estate capital gains in companies only if they're not listed.

Cyprus Capital gains tax is levied on gains from the disposal of Cyprus property (immovable) at the rate of 20%, as well as gains from the disposal of shares in Cyprus companies owning immovable property and are not listed in any recognised stock exchange and rights arising from a sales agreement of immovable property situated in Cyprus. As of 17 December 2015 gain from the disposal of shares of a company that owns indirectly immovable property in Cyprus, is subject to Cyprus capital gain tax, provided that the market value of this property exceeds 50% of the shares market value.

And "how would they know" is ignorant. Information across EU brokers is shared liberally, they will know. If the broker is outside of EU, then good luck opening a bank account in Europe to receive the funds. No bank would touch you. Sure, you can fly to the Caribbean to bring back cash if that's what you want. It might work.

You have to register your address with the authorities. You can skip this altogether and face fines and maybe deportation if you're not an EU citizen. For a non-EU citizen who needs to regularly renew the visa, you think the authorities don't share information?

So tone down your "bolding", little man.

 

[patek643]

I was partially wrong in that Cyprus taxes real estate capital gains in companies only if they're not listed.

Cyprus Capital gains tax is levied on gains from the disposal of Cyprus property (immovable) at the rate of 20%, as well as gains from the disposal of shares in Cyprus companies owning immovable property and are not listed in any recognised stock exchange and rights arising from a sales agreement of immovable property situated in Cyprus. As of 17 December 2015 gain from the disposal of shares of a company that owns indirectly immovable property in Cyprus, is subject to Cyprus capital gain tax, provided that the market value of this property exceeds 50% of the shares market value.

So you admit that you are wrong. Ok that's a start. But hold on:

So explain what the above italicized quote has to do with you since any or all of the following are true: you are not a Cypriot citizen/PR, you don't trade Cypriot companies exclusively, and most of the companies you do trade likely don't have significant Cypriot holdings and/or operations.

You can't. Pathetic attempt by yourself to distract from your incorrect statements.

And "how would they know" is ignorant. Information across EU brokers is shared liberally, they will know. If the broker is outside of EU, then good luck opening a bank account in Europe to receive the funds. No bank would touch you. Sure, you can fly to the Caribbean to bring back cash if that's what you want. It might work.

You have to register your address with the authorities. You can skip this altogether and face fines and maybe deportation if you're not an EU citizen. For a non-EU citizen who needs to regularly renew the visa, you think the authorities don't share information?

So tone down your "bolding", little man.

An individual will have to share their address with the relevant authorities anywhere, not sure why you are bringing that up. However, with the proper documentation whether it's a work visa or retirement visa or entrepreneur visa etc, one should and can get a bank account that is EU based. At that point, opening up a EU or non EU brokerage account is trivial.

The fact that you described it backwards, opening up a non EU brokerage account then opening up an EU bank accounts makes no sense. Since you are coming into the EU as a non native you don't need an EU bank account for a non EU brokerage even if you are resident in the EU. I'll bet it's because you don't actually know shit.

I won't be toning down anything, little girl.

 

[d08]

They’re taxed by the place where your trading entity sits while you’re in Portugal. Malta based maybe and pays your dividends from there, which don’t get taxed by either place? But this is mostly for non-US persons, not US ones. For the US, maybe move to PR?

Yes if you're incorporated. Last I heard Malta is not favorable for traders either. The ones that don't tax are in the Caribbean but that's a messy situation now. Delaware LLC seems like a good option?

 

[d08]

So you admit that you are wrong. Ok that's a start. But hold on:

So explain what the above italicized quote has to do with you since any or all of the following are true: you are not a Cypriot citizen/PR, you don't trade Cypriot companies exclusively, and most of the companies you do trade likely don't have significant Cypriot holdings and/or operations.

You can't. Pathetic attempt by yourself to distract from your incorrect statements.

Completely irrelevant what I do. I'm telling you what is. Whether I participate is completely irrelevant, you're off your meds?

 

[d08]

An individual will have to share their address with the relevant authorities anywhere, not sure why you are bringing that up. However, with the proper documentation whether it's a work visa or retirement visa or entrepreneur visa etc, one should and can get a bank account that is EU based. At that point, opening up a EU or non EU brokerage account is trivial.

The fact that you described it backwards, opening up a non EU brokerage account then opening up an EU bank accounts makes no sense. Since you are coming into the EU as a non native you don't need an EU bank account for a non EU brokerage even if you are resident in the EU. I'll bet it's because you don't actually know shit.

You didn't understand a word I said. If the authorities know you're in Portugal, have your address and your bank account information, that's all they need. In any case, the non-EU brokerage will share information (CRS) with the EU. So, good luck with that.

 

[virtusa]

I do not understand anymore what the discussion is now going about, but if it is about being a digital nomad, you might be in for a bad surprise.

Just a few things I know:

IB is passing on all information they have on you as client to the country from which your nationality is, or where you are domiciled. As you can not say that you don't live anywhere, you have to give an address.
Read this: https://ibkr.info/article/2784

CRS is a system used by a lot of countries (actually over 100 countries) to transfer all financial information from you to your native country on a yearly basis. So opening an account in another country and hoping that the country where you are domiciled will not find out is an illusion.
Read the document in attachment.

If you live nowhere more than 6 months, and think you are therefore nontaxable you are wrong. In that case the country from which you have the nationality will receive all the information and tax you.

https://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/crs-by-jurisdiction/

Therotically you can open a bank account in another coutry. But when I tried that(living in EU, trying to oppen in another EU country) it was refused by the bank. In general they want you to be domiciled in their country. When I finally moved to that country it was no proibelm anymore. That was my practical experience. So you can open, but banks are not obliged and can refuse.

 

[Sig]

Completely irrelevant what I do. I'm telling you what is. Whether I participate is completely irrelevant, you're off your meds?

Pretty sure this is just the latest sock puppet for the sad little troll variously known as volpunter, asiaprop, GRU, Grulstmrnn, Zzzz1, and a bunch more I don't remember. He usually can only last a couple months before he goes off on an antisemitic/racist/misogynistic/homophobic rant and gets banned. In the time before he's banned he usually goes after whoever he believes did him wrong in a previous incarnation with relentless trolling. He really should probably be on some meds, although I don't think they have one for bigotry and trolling.

 

[Raheel Shaikh]

Back to the thread topic.

South of Portugal is so nice...

On the other hand, not sure about living there full time.
Lisbon is a nice city too.

This is Mesmerizing *.*

 

[patek643]

Pretty sure this is just the latest sock puppet for the sad little troll variously known as volpunter, asiaprop, GRU, Grulstmrnn, Zzzz1, and a bunch more I don't remember. He usually can only last a couple months before he goes off on an antisemitic/racist/misogynistic/homophobic rant and gets banned. In the time before he's banned he usually goes after whoever he believes did him wrong in a previous incarnation with relentless trolling. He really should probably be on some meds, although I don't think they have one for bigotry and trolling.

You never did reply to the post below when I pointed out your bullshit incorrect statements saying something but RedDuke contradicted you:

https://www.elitetrader.com/et/posts/5478202

So what were the names of those fictitious companies you founded again? Or speaking of meds, do you need to take yours to remember those companies names?

 

[patek643]

Completely irrelevant what I do. I'm telling you what is. Whether I participate is completely irrelevant, you're off your meds?

Complete nonsense by you. Your syphilis is attacking hard today?

Why are you bringing up Cyprus since the topic in this thread is about moving to Portugal? What does Cypriot companies having physical holdings in Cyprus have anything to do with taxation and residency in Portugal?

You are so full of shit you can't even stay on topic.