Trading in a Different Country

[J-Law]

Mark tier is the author of

The winning Investmant habits of Warren Buffet & George Soros

In his book he suggested reading

http://www.amazon.com/Keep-What-You..._bbs_sr_1/103-2762527-8725453?ie=UTF8&s=books

It was written 10 years ago, but prob at a minimum would bring one up to snuff on the issues revolving around this subject. IRS I understand has tighened up alot since then.

 

[Imagine]

Quote from fearless9:

You live in country A as a resident.
Your passport and citizenship is country B.
You trade through a company owned by a foundation in country C by means of a general POA.
You qualify to remove your tax liability from country B ( difficult, but by no means impossible)
AND muy importante.
You obey and live by the taxation rules in all countries, since if you set it up properly you will be liable for zero tax and nil returns on your income.
Property tax of course is a separate issue.

Foundations are a nice way to go about this but not all foreign countries offer such a solution. Plus where foundation make the most sense - you need to have a decent size amount to start it up. I am talking about counties such as Lechtenstein, etc. Without a million euro, most "attorneys" won't even speak to you.

Furthermore, many folks that are offered the solution of a foundation don't go for it because they are not comfortable with the idea that they are in no way shape or form the owners of the foundation. Wish letters are nice but.....................

 

[blast19]

Quote from makloda:

- Malta (Arabic)
- Cyprus (Russians)
- Panama/Costa Rica/Belize/Carribean like Bahamas + Bermuda [/B]

Malta? Arabic? Are you just making that up????

 

[Keeper]

Trading the US markets from most countries is not a problem.

Taxes are no problem, just pay the correct residents tax in the country you're resident in and also file your normal US tax returns.

Where is the issue? If you need more money, just increase your trading lot size.

 

[dandxg]

Quote from blast19:

Malta? Arabic? Are you just making that up????

Malta, from my very short time there off the cruise ship, is a very nice place. People speak English, and it used to be a good tax haven, not anymore since joining the EU. Very laid back, and that's in Valetta, the most busy/crowded city. I don't about the broadband connections, if you are day trading though.

Heck I would like Roatan, Honduras, but they don't have broadband, just 56k, which isn't suitable for day trading. Neither does Belize. Panama, there they have good broadband and are American friendly.

My good friend trades in Ukraine from market open ER2 til close and he starts at 3:30-10:30 at night. He misses some EOD moves because he doesn't want to work that late. They have a flat tax of around 15%, but many don't pay it. So does the Slovac Republic. I might be slightly off on the percentages. I might consider there in future because of some family that lives in Easter Europe.

 

[eusdaiki]

In case you need a tax haven with tons of bandwidth you should think about a little island in the caribean called St Croix in the Virgin islands...

Why? Well 3 of the internet backbones for the Americas meet in that island...

 

[dandxg]

Quote from eusdaiki:

In case you need a tax haven with tons of bandwidth you should think about a little island in the Caribbean called St Croix in the Virgin islands...

Why? Well 3 of the internet backbones for the Americas meet in that island...

Yes I recall hearing that most of the English-speaking Caribbean, except Haiti and DR, is quite good for bandwidth. Unfortunately my net worth is not at the point that I could afford USVI or BVI. I believe it's about min $1mil US for a home there. I don't need boatloads of bandwidth, just reliable high speed like DSL or cable.

Panama is very good, because they are connected to the Trans Pac Fiber link, in Panama City, I can speak decent Spanish, and you can get a nice high rise condo overlooking the Caribbean for about $350k US and taxes are next to nil.

Honestly at this point it's more of a dream, but it is good to plan because it starting to get closer to reality.

It would be hard to leave the US though. I have a fair amount of family here.

 

[dandxg]

If you guys want to start reading up on this, here a good place to start sovereignsociety.com or http://www.escapeartist.com/. Both of them specialize in expatriate stuff. This isn't an endorsement nor am I affiliated with either.

 

[whitster]

the previous poster is right about vanguard.

i have been dollar cost averaging into a vanguard fund for 14 years, and no i don';t pay commission

 

[pumpkinhead]

Quote from fearless9:

When you are consistently profitable and ready to move, send me a PM

Don't message this guy fearless. He sounds like a dishonest criminal. He can discuss whatever he has to tell you in public on this forum. He is a con artist.