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Is it possible to trade CFDs with dual citizenship?

  • Post #1
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  • First Post: Apr 18, 2016 9:58pm Apr 18, 2016 9:58pm
  •  trickshady
  • | Joined Nov 2010 | Status: Member | 156 Posts
I live in the US and I want to trade CFDs. I know that due to regulations I cannot, so here is the scenario.

I have dual citizenship (USA/Bulgaria). I still have my place and address in Bulgaria. Is it possible to use my Bulgarian address to open an European broker's account and trade CFDs while living in the US? This way I am not breaking any US laws. I am also not using false information to open such an account.
  • Post #2
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  • Apr 19, 2016 5:47am Apr 19, 2016 5:47am
  •  1a2b3c
  • | Joined Dec 2015 | Status: Member | 22 Posts
Hello. I am Spanish, I have lived in UK and now live in Germany. As far as I am concerned you must pay taxes in the country you live the most time during the tax-year. For example, I have never paid taxes in Spain, as I have never worked there, but I have in England two years ago and I pay taxes in Germany since I moved here. I am not completely sure, but if you live most of the year in US, having an address in Bulgaria is not enough.

On the other hand, US citizens must pay taxes in US even if they live or work most of the year outside US.

I am not a lawyer, I just tell you what I know and have read about. Therefore I would rather contact an expert in the subject before trading CFDs in your case.

Have a nice day!
 
 
  • Post #3
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  • Apr 19, 2016 10:27am Apr 19, 2016 10:27am
  •  B-Naire2B
  • | Joined Nov 2012 | Status: Member | 74 Posts
In my opinion taxes are extortion and in case of trading even more.
How can one prove that he or she is trading from the country he is based in? What if one uses VPS which is in completely different country? Or what if one makes a call to someone to signal buy or sell in different country? Or what if robot is making all the trades?
And secondly, there are different types of visas and permits that allow you to stay in the other country for a period of 6 months and more but without permit to work there. So if you trade does it mean that you work? If it means that you work then its against the law but they are more than happy to collect taxes anyway.
WTF?
 
 
  • Post #4
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  • Last Post: Apr 19, 2016 10:50am Apr 19, 2016 10:50am
  •  avibe
  • Joined Jun 2009 | Status: coitus interruptus | 1,115 Posts
Open an account with your Bulgarian passport... dnt tell them you are american
practising coitus interruptus
 
 
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