I was thinking ... is there a better country to live in than the US as far as taxation is concerned? Eventually, once I am trading for a living, it would be nice to trade as a citizen in a country other than the US to avoid the heavy taxes here. Are there any catches to doing that, such as eligibility to trade on exchanges, or to maintain a retirement account like a Roth IRA? I'm just speculating for now, but in a few years, I may consider it a bit more seriously.
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Trading in a Different Country
- Thread starter pcgeek86
- Start date
Quote from pcgeek86:
I was thinking ... is there a better country to live in than the US as far as taxation is concerned? Eventually, once I am trading for a living, it would be nice to trade as a citizen in a country other than the US to avoid the heavy taxes here. Are there any catches to doing that, such as eligibility to trade on exchanges, or to maintain a retirement account like a Roth IRA? I'm just speculating for now, but in a few years, I may consider it a bit more seriously.
When you are consistently profitable and ready to move, send me a PM
That sounds a little mysterious. Do you have any idea of what other countries would be beneficial to a full-time trader? What other considerations are there?Quote from fearless9:
When you are consistently profitable and ready to move, send me a PM
Like I said, I don't plan on considering this for quite a while ... probably at least 5 years, probably more.
Quote from pcgeek86:
Are there any catches to doing that, such as eligibility to trade on exchanges, or to maintain a retirement account like a Roth IRA? I'm just speculating for now, but in a few years, I may consider it a bit more seriously.
I think it depends on what you are trading. If you are an FX trader it is seriously unlikely that you would have problems trading anywhere.
And even after that, I doubt that you would have any trouble trading equities or futures. It is an international market.
Quote from pcgeek86:
I was thinking ... is there a better country to live in than the US as far as taxation is concerned?
Oh... I don't know... Monaco, Bermuda, come to mind...
Good luck!
Switzerland: you can arrange a fixed lump-sum tax with the goverment annually.
Dubai: 0% Tax & great lifestyle options
Monaco: 0% tax if you own a property & are resident
Gibraltar: £10k up front tax lump and everything you earn extra is tax free
Dubai: 0% Tax & great lifestyle options
Monaco: 0% tax if you own a property & are resident
Gibraltar: £10k up front tax lump and everything you earn extra is tax free
Sweet, this is the type of information I was looking for.Quote from Arbitrageur:
Switzerland: you can arrange a fixed lump-sum tax with the goverment annually.
Dubai: 0% Tax & great lifestyle options
Monaco: 0% tax if you own a property & are resident
Gibraltar: £10k up front tax lump and everything you earn extra is tax free
Where do you find this stuff out at?