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

[Peternam]

Possible in Puerto Rico...

http://www.greencompany.com/blog/index.php?postid=215

Also interesting for NON US citizens ?

 

[Peternam]

Actually there is at least one member who seems to be in the process of living there. Professional traders seems to profit from low tax structures if not tax free.
A set up mentioned here a couple of times for europeans is trading through a luxembourg investment fund, it works almost tax free for belgium residents, not sure about swiss residents.
Also the license from Luxembourg financial authorities doesn't seem to come easily. I inquired once but didn't get much information. Will definetely look more seriously into it if and when I settle back in Europe, but I'd much rather live in Switzerland than Belgium.

Where is that set up mentioned for european traders ?

 

[dealmaker]

This is a long thread so maybe this has already been mentioned. The key to wealth accumulation is the tax free compounding of capital over time. As such, any valid trader or investor would have an IRA account and place as many trades as possible in such account.
What seems to be lost here is trading for a living is not all about making enough money to pay the bills. More than anything it is about accumulating a nest egg to enjoy a rewarding and worry free retirement.

Why are you posting the same thing on different threads?

 

[Mellow]

Why would someone choose to live in a 3rd world country to avoid taxes, leaving friends, family and culture behind? Sometimes I think people can't see the forest through the trees.

 

[d08]

Why would someone choose to live in a 3rd world country to avoid taxes, leaving friends, family and culture behind? Sometimes I think people can't see the forest through the trees.

Because the so-called "3rd world" countries are sometimes better places to live in.
You clearly are the type who wants to be close to home, nothing wrong with that, however not everyone is the same.
I made the move this year and thus far aren't regretting it. There's a downside and upside to being away but for me, there is definitely more upside.

 

[Mellow]

Because the so-called "3rd world" countries are sometimes better places to live in.
You clearly are the type who wants to be close to home, nothing wrong with that, however not everyone is the same.
I made the move this year and thus far aren't regretting it. There's a downside and upside to being away but for me, there is definitely more upside.

Agree, not everyone is the same. Congrats if you made a painless transition. You must be young, because it is difficult to leave long established relationships behind, pull your kids away from their friends and schools all to save a few dollars. You can place a value on money, you can't place a value on relationships. Bottom line, I love the United States, warts and all.

 

[freedinner]

Nobody, from reading your posts I see you have developed a thorough understanding of international tax matters.

"Correct, when I stumbled into this problem I stopped my application and took another (even more favorable and cheaper) solution. I left Belgium. I was happy they did not give me a licence. If you manage less than 100 million euro you can qualify for registration instead of licencing, which is more easy."

"I had the same problem in Europe and had to move to the country where i had my company for fiscal reasons. If not i risked to be taxed very heavily with additional fines on top of that. In some European countries these fines reach75% of the non declared profit."


So where did you move to, whats your solution? Thanks

 

[dealmaker]

Because the so-called "3rd world" countries are sometimes better places to live in.
You clearly are the type who wants to be close to home, nothing wrong with that, however not everyone is the same.
I made the move this year and thus far aren't regretting it. There's a downside and upside to being away but for me, there is definitely more upside.

Which third world country did you move to? 3rd world countries may be cheaper but never better major difference is the rule of law.

 

[luisHK]

Which third world country did you move to? 3rd world countries may be cheaper but never better major difference is the rule of law.

Well, the benefit of the rule of law is arguable
Having said that, I find it harder and harder with the years to leave Europe (I enjoy life in many countries there). Kids are in no rush to go back though, to say the least.

 

[luisHK]

Corruption is a good sign.
I see that most countries that are not or almost not corrupt have very high taxes. All scandinavian countries are in this group.
Very corrupt countries probably don't even know the word "taxes".
Or they can pretend not to know it for some money.

Actually Sweden is scandinavian but looks very much like a tax haven if one live off their capital rather than labour: no wealth tax, no gift tax, no estate tax , and very low tax for non active traders (not so sure it's Worth for active traders to pay the extra commission for local brokers and qualify for the investments scheme or whatever the name). A poster here mentionned the corporate tax goig down to 16% for 2014 as well I think.
Great capital city, snowmobile in winter and some guys jet skis downtown in summer ! Boats every where, gorgeous villas ( not particulary cheap though)