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Best place in the world to trade from?

  • #181
  • Jul 19, 2009 4:22am Jul 19, 2009 4:22am
Quoting fxterrapin
I proved it.
Nope not really.
  • #182
  • Jul 19, 2009 6:14am Jul 19, 2009 6:14am
Quoting fugly
Hey Michal,

Is it true the people in monaco are very snooty. I've heard everyone there is so rich if you don't have enough money or are not famous you won't fit into the crowd. Its only a good place if you have millions of dollars. This is just hearsay of course?
It's the same as anywhere else. There are snooty people in Monaco, but you can find good friends as well.
  • #183
  • Jul 19, 2009 6:33am Jul 19, 2009 6:33am
Quoting m.kreslik
It's the same as anywhere else. There are snooty people in Monaco, but you can find good friends as well.
Afterall Monaco needs tourists so you won't be treated bad only because you don't arrive with your Ferrari.
  • #184
  • Edited 7:50am Jul 19, 2009 7:39am | Edited 7:50am
Quoting ALThau
Maybe I missed it, but I don't think anyone mentioned Spain.
Any opinions?
The massive property boom and the current property crash have left much of the coast an over-developed building site. A huge environmental disaster. Don't get me started on their animal cruelty. With massive local and national government corruption (a tiresome bureaucratic fossil of a system), the Spaniards themselves are relatively new to the idea of capitalism but mixed with odd, almost medieval and backward ideas, they are probably the most selfish, ignorant and racist of Europe's population, if not the world IMO. However, the countryside is fab. I lived there for 3 years.
  • #185
  • Jul 19, 2009 8:07am Jul 19, 2009 8:07am
Thanks for reply Porkpie.
OK, how about Greece, Cypress or Crete?
Anyone?
  • #186
  • Jul 19, 2009 11:03am Jul 19, 2009 11:03am
Quoting The Fool
Or you can gain dual citizenship or residency status in another country and form a legal entity there with which to conduct your trading. Your earnings from that foreign enterprise would be taxed in its native country & not again in the US. You might only need to draw small amounts from the foreign legal entity's holdings in order to live anyway, as the entity itsef could "own" your residence, car(s), office equipment, etc, etc.
Better see an attorney. Been there done that, and you'll get creamed with this strategy.

US citizens cannot escape (legally) taxation. PERIOD. You can set up all manner of hedges and dodges, but they all get nailed eventually. Ultimately, US sovereignty will not accept this dodge. One way or another, they will get their coin - unless you stay out of the US or it's territories of cooperating partners.

What you are talking about is what an actual real corporation might do. However, that money can never come home' to the US, hence it holds little value. (I work for such a company that keeps assets in Europe to avoid US taxation). This strategy is doomed to failure as the US Congress is looking at extending full taxation to any US held company with foreign interests. The thinking is that if the company benefits materially in any way, it is liable to be taxed at a corporate rate. Frankly, that seems fair.
I'm pretty much done with all this ...
  • #187
  • Jul 19, 2009 12:30pm Jul 19, 2009 12:30pm
Quoting Tjpld
Nope not really.
Yep really.
  • #188
  • Jul 19, 2009 4:35pm Jul 19, 2009 4:35pm
Quoting abducted
Come to Dominican Republic!!
You have everything! summer, beach, cheap, taxes ..... you can solve any problem or pay them. same time zone as NY and near from your house.
what else you need?
My wifew work for the UN and i spend my time tradeing. I really don t want to move from here. If you start to think serious to move to here, PM to me, i can help you (if you need help).
good luck, and sorry about my english
abd
I envy you.

I want to live in the DR, sometimes i get stressed out thinking i won't make it to the DR. I have a picture of a beach of the DR as my desktop wallpaper.
All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: 19.8%
  • #189
  • Jul 19, 2009 5:05pm Jul 19, 2009 5:05pm
Quoting StoragePro
What you are talking about is what an actual real corporation might do. However, that money can never come home' to the US, hence it holds little value. (I work for such a company that keeps assets in Europe to avoid US taxation). This strategy is doomed to failure as the US Congress is looking at extending full taxation to any US held company with foreign interests. The thinking is that if the company benefits materially in any way, it is liable to be taxed at a corporate rate. Frankly, that seems fair.
You mst have missed my point. I stated the benefits of trading through a foreign corporation, not a US-held corporation. Of course the corporate assets will be taxed if they are repatriated, but why would one do that? I have to assume that one would only go down that road if he were committed to establishing residency status in the new country and staying there.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #190
  • Jul 19, 2009 5:08pm Jul 19, 2009 5:08pm
Quoting The Fool
I'm curious, what is it you find so detestable about the "new world"?

Perhaps.... electricity, hot water in the shower and not be able to grow carrots around the house.
  • #191
  • Jul 19, 2009 7:13pm Jul 19, 2009 7:13pm
I think Europe is a good place to trade from.

You can set-up residence and a company in Italy, where forex is not taxed, or at least the law is so "Italian" that makes it, tax free: in trading forex you pay tax if you total capital is over 50k€ AND your transaction are kept for longer then 5 or 7 (don't remember exactly) working days.... anyway, you have a legal way around it...

Then Europe offers variety, you can live cheap, it depends where you are in the country you choose. You can speak several languages, you can have the see, mountains, lakes or rivers; laws are quite relaxed, you can drop in Amsterdam for a week-end out of the ordinary and so on... maybe not the cheappest place on earth, but you'll just need a few extra pips
  • #192
  • Jul 19, 2009 7:25pm Jul 19, 2009 7:25pm
talking and thinking of Tropical.... this in the south of Italy, is called Capo Vaticano (first picture), close to Tropea (second picture).

If you rent a place here in the summer, prices will be like in Central London, but if you do it for all year it gets really cheap.
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  • #193
  • Jul 19, 2009 7:29pm Jul 19, 2009 7:29pm
Quoting cesare76fx

You can set-up residence and a company in Italy, where forex is not taxed, or at least the law is so "Italian" that makes it, tax free:
Cool. How much will I have to pay monthly for "protection".....?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #194
  • Jul 19, 2009 8:06pm Jul 19, 2009 8:06pm
Quoting The Fool
Cool. How much will I have to pay monthly for "protection".....?
As long as you keep a low profile, don't drive Ferrari, don't flash a "rolex" and don't rent the most expensive villa, mafia won't bother you.
If you then like to run local business, open up bars and restaurant, manage a village resort... yes, then you'll have to follow a few rules, one of which might be paying for "protection".
  • #195
  • Jul 19, 2009 11:28pm Jul 19, 2009 11:28pm
Italy is stunningly beautiful. And you forgot to mention the great food. And the girls aren't too shabby either.
  • #196
  • Jul 20, 2009 3:13am Jul 20, 2009 3:13am
Quoting cesare76fx
As long as you keep a low profile, don't drive Ferrari, don't flash a "rolex" and don't rent the most expensive villa, mafia won't bother you.
If you then like to run local business, open up bars and restaurant, manage a village resort... yes, then you'll have to follow a few rules, one of which might be paying for "protection".
HAHAHAHA Someone seems to be watching to much American Television. I mean no offense but there is a hell of a lot more mafia in South Philadelphia than all of Italy. Even in Sicily it is more a part of history than actual lifestyle. But then again Sicily is considered the wrong side of the tracks by just about everyone in Italy.

I lived in Italy for 12 years and the only mafia I ever saw was on satelite tv watching the Sopranos.
  • #197
  • Jul 20, 2009 3:42am Jul 20, 2009 3:42am
don't laugh, but if I consider trading a job, then I'd choose a place that overlaps daytime with the London session. So it could be east from Ireland, ending with Japan or Sydney. No Americas since I don't want to get up early...
forget about tomorrow, just steal away into the night
  • #198
  • Edited 6:15am Jul 20, 2009 5:58am | Edited 6:15am
Quoting Joxster
HAHAHAHA Someone seems to be watching to much American Television. I mean no offense but there is a hell of a lot more mafia in South Philadelphia than all of Italy. Even in Sicily it is more a part of history than actual lifestyle. But then again Sicily is considered the wrong side of the tracks by just about everyone in Italy.

I lived in Italy for 12 years and the only mafia I ever saw was on satelite tv watching the Sopranos.
Dear Joxster, I really hope you are joking, even if it is not funny at all.

You are probably the one who watches too much Soprano. You lived 12 years in the country, I was born there in the south and left after 20 years for some fkin reason...

Don't forget the difference between the US mob and the Italian mafia. In the US, like in "Soprano" (I never watched a full episode but I know about the real life), the mob likes to show off: big cars, wifes with jewel and furs, kids at Harvard and talk like " D'ya know Tony? the cousin of Uncle Peppe??"
Now, here in the south: you don't talk about it, you don't show off, you negate the existance, and the boss could be the same nice guy who lives next to you or sell you some cheese in his farm.

Now, you might not believe me, but I know facts, as I have seen shit, you keep believing what "they" (government included) want you to believe, and keep watching tv...

For your information, Sicily (Cosa Nostra) has been in a downtrend for the last 15 years since Mr Falcone job. Since then, Calabria ('Ndragheta) took over most of the international traffic and has an estimated yearly earning of a third of the all Italian GDP. My information are not out of a Mario Puzo book (Godfather, etc.), but they are a result of investigation by some brave judge that have not life, to fight what you say that it does not exist.

Google would help if you need info.

Edit: I was wrong on GDP... it's th 3.5%, not the 30%... http://en.wikipedia.org/wiki/%27Ndrangheta
  • #199
  • Jul 20, 2009 6:47am Jul 20, 2009 6:47am
Quoting ForexSV
Perhaps.... electricity, hot water in the shower and not be able to grow carrots around the house.

Ohhh the luxuries I miss in America. I hate Europe. Reading at night by candle light, bathing in an ice cold river. Riding in horse carriages.
Why oh why did I leave America and move to this medieval place. I miss electricty, light bulbs, and piece of shit automobiles. (EXTREME SARCASM)


This is the most ignorant post I have ever read. Unless you were joking or I misread your post. Do you really believe we have no electricity or hot water in Europe?


Don't quite your day job.
Just Trade It
  • #200
  • Jul 20, 2009 6:58am Jul 20, 2009 6:58am
Quoting StoragePro

US citizens cannot escape (legally) taxation. PERIOD.

Swiss wife with no green card.

She is actually the investor/trader. I just advise her which trades to make or which stocks to buy then she pays me just a few dollars short of 80,000 so I don't have to pay income tax. I have to file taxes every year, but anything under 80k I don't have to pay. And since she doesn't have a green card the U.S cannot touch her, She's backed by a Swiss government guarantee
She is allowed three months per year in the U.S with no green card or visa. (we only spend 4 or 5 weeks per year in the U.S for vacation)
THATS, how to legally avoid taxation.
Just Trade It
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