Successful traders: why don't you move to a 0% capital gains tax country?

pgo1970 said:
I have a question for successful traders in here making >$150k / year.

Why do you stay in the US or other high tax country? Why don't you pack up and go to a 0% capital gains tax country, or set up a corporation abroad in which your capital can grow tax free?

What are your reasons? Not criticizing you, just trying to understand your thought process. I'm sure there are valid reasons.
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Because no one on here is managing large enough money to make it worth their while to endure the inconvenience of another language, culture, cuisine let alone moving a family and giving up US citizenship. Eduardo Saverin did it because he is a billionaire...
 
I think you should not move if you just do it because of the savings in taxes... but if you like to get to a new, nice place, like to enjoy life and want to top this with some nice tax savings, then I could recommend this:

- Monaco
- Switzerland
- Croatia
- Cyprus
- Thailand
- Costa Rica

These are all countries with pretty good infrastructure, social stability and great climate.

Greetings,
CALLumbus
 
Most traders who are just "making it" are better off in retirement havens shown on Living Abroad magazine. 0% taxes are at the bottom of the list of reasons to move.

Tax avoidance is the province of the super-rich. It's like we are governed by Purchasing Power Parity for quality of life which everyone shoots for. That's why we have immigrants.
 
Does anyone in this thread even know one person who has renounced their US citizenship to save on taxes? So few people actually do it it is barely worth a conversation.
 
CALLumbus said:
I think you should not move if you just do it because of the savings in taxes... but if you like to get to a new, nice place, like to enjoy life and want to top this with some nice tax savings, then I could recommend this:

- Monaco
- Switzerland
- Croatia
- Cyprus
- Thailand
- Costa Rica

These are all countries with pretty good infrastructure, social stability and great climate.

Greetings,
CALLumbus
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Been out of touch for a few days?
 
aqtrader said:
suppose you make good money and want to pay less tax, which of the following places you want to move to?
http://www.forbes.com/sites/kellyph...n-the-world-is-spoiler-alert-its-not-the-u-s/
from least tax burdened to most:
  1. India
  2. Canada
  3. China
  4. Mexico
  5. Russia
  6. United Kingdom
  7. Netherlands
  8. United States
  9. Germany
  10. Australia
  11. Brazil
  12. Japan
  13. Italy
  14. France
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India on top .. really?
No way, taxes go quite high for anyone making a decent amount, like 30%, but from what i know its more or less the same everywhere. Sure you can save some money from some schemes, but please remove India out of it.

Why isnt Dubai on top of the list- virtually no taxes, everything is great there except the weather.
 
dealmaker said:
Because no one on here is managing large enough money to make it worth their while to endure the inconvenience of another language, culture, cuisine let alone moving a family and giving up US citizenship. Eduardo Saverin did it because he is a billionaire...
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Exactly...150K is not nearly enough
 
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