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Which countries are tax free for forex trading?

  • #1
  • First Post: Apr 17, 2012 10:17am Apr 17, 2012 10:17am
I'm just wondering, does anyone know what countries are tax free for forex trading? I'm now living in England, where I pay no tax on my earnings. But it's cold and horrible, and I'm thinking of relocating to either Spain or Portugal.
Are those countries tax free as well? Because I know in Norway where I come from, there is a horrible tax on gains from forex trading.

Any overview of countries charging tax and not would be highly appreciated, thanks.
  • #2
  • Apr 17, 2012 12:03pm Apr 17, 2012 12:03pm
i only have a german source..

http://de.wikipedia.org/wiki/Abgeltu...geltungsteuern

but at least you can look at the numbers under "Kursgewinne"
  • #3
  • Apr 17, 2012 4:31pm Apr 17, 2012 4:31pm
Quoting torkay77
i only have a german source..

http://de.wikipedia.org/wiki/Abgeltu...geltungsteuern

but at least you can look at the numbers under "Kursgewinne"
Thanks, I'm sure google translate can fix it for me anyway

Edit
I actually searched for "capital gains" on wiki after I read the article you sent me, and got a nice page telling me about tax all over the world
http://en.wikipedia.org/wiki/Capital_gains_tax
  • #4
  • Apr 17, 2012 4:34pm Apr 17, 2012 4:34pm
Quoting espen
I'm just wondering, does anyone know what countries are tax free for forex trading? I'm now living in England, where I pay no tax on my earnings. But it's cold and horrible, and I'm thinking of relocating to either Spain or Portugal.
Are those countries tax free as well? Because I know in Norway where I come from, there is a horrible tax on gains from forex trading.

Any overview of countries charging tax and not would be highly appreciated, thanks.
Tax is payable on forex gains in the UK. But I assume you are spreadbetting?
  • #5
  • Apr 17, 2012 7:13pm Apr 17, 2012 7:13pm
i vote for Thailand

at least for 7 month a year the rest 5 in my country when the weather is warm

but having 2 residences is tricky when it comes to taxes that's a different game
  • #6
  • Apr 18, 2012 12:22am Apr 18, 2012 12:22am
singapore or malaysia are capital tax gain free.

singapore has very low tax on everything and is relatively double taxation free with most countries too.

The only drawback i guess is the slightly high cost of living and the fact that it is located on the equator.
  • #7
  • Apr 18, 2012 12:40am Apr 18, 2012 12:40am
Quoting torkay77
i only have a german source..

http://de.wikipedia.org/wiki/Abgeltu...geltungsteuern

but at least you can look at the numbers under "Kursgewinne"
Dated from 2005 ?????
Sorry, but NOT valid anymore. Most have changed.
  • #8
  • Apr 18, 2012 5:33am Apr 18, 2012 5:33am
Quoting thelws
singapore or malaysia are capital tax gain free.

singapore has very low tax on everything and is relatively double taxation free with most countries too.

The only drawback i guess is the slightly high cost of living and the fact that it is located on the equator.
I'm thinking more Mediterranean countries, because I have a young son who will need good schools etc... But thank you all for your contributions.
  • #9
  • Apr 18, 2012 5:51am Apr 18, 2012 5:51am
Quoting espen
I'm thinking more Mediterranean countries, because I have a young son who will need good schools etc... But thank you all for your contributions.
Monaco is a good tax haven, close to Spain, good weather but cost of living is really expensive.
  • #10
  • Apr 18, 2012 5:57am Apr 18, 2012 5:57am
Quoting willf
Monaco is a good tax haven, close to Spain, good weather but cost of living is really expensive.
Yes I've thought about Monaco, but as you say the cost of living is immense. And I don't really want to live in an apartment like many in Monaco do as buying a house there costs more than someone like me can afford. My fiancée is Portuguese, so we have considered Portugal as well and by the looks of things they only charge 10% on capital gains which is tolerable.
  • #11
  • Apr 18, 2012 6:11am Apr 18, 2012 6:11am
How about Ibiza? Not sure about the expense of apartments though, but cost of living may be not too excessive?
Tracking the Specialists.
  • #12
  • Apr 18, 2012 8:23am Apr 18, 2012 8:23am
Taxes on forex if you are a fulltime trade can be more complicated then just looking at capital gains tax.

For example, in Canada as a fulltime trader I am not taxed at the capital gains rate but at a normal income rate (which can be and is double in my case).

Tax authorities may look at fulltime traders as that is your job whereas capital gains tax is used for people who invest but not for a living.

In my case I had to create a corporation to make it more tax efficient.

I do not profess to be a tax advisor of any sort and I am only giving you my actual experience in Canada.
  • #13
  • Apr 18, 2012 8:36am Apr 18, 2012 8:36am
Quoting espen
I'm just wondering, does anyone know what countries are tax free for forex trading? I'm now living in England, where I pay no tax on my earnings. But it's cold and horrible, and I'm thinking of relocating to either Spain or Portugal.
Are those countries tax free as well? Because I know in Norway where I come from, there is a horrible tax on gains from forex trading.

Any overview of countries charging tax and not would be highly appreciated, thanks.
dubai is tax free
  • #14
  • Apr 18, 2012 9:07am Apr 18, 2012 9:07am
i've been thinking about barbados which has low taxes on income. not tax free, but it's such a nice lil island. then just run back to canada during hurricane season.
  • #15
  • Apr 18, 2012 9:40am Apr 18, 2012 9:40am
Quoting flyer415
Taxes on forex if you are a fulltime trade can be more complicated then just looking at capital gains tax.

For example, in Canada as a fulltime trader I am not taxed at the capital gains rate but at a normal income rate (which can be and is double in my case).

Tax authorities may look at fulltime traders as that is your job whereas capital gains tax is used for people who invest but not for a living.

In my case I had to create a corporation to make it more tax efficient.

I do not profess to be a tax advisor of any sort and I am only...
I've been thinking of starting a company in Switzerland to trade under, because I already have a Swiss bank account that should let me pay less tax I hope. I don't see why we have to pay tax in the first place, no governments do what they are supposed to with the money anyway it's just a waste..
  • #16
  • Apr 18, 2012 9:53am Apr 18, 2012 9:53am
Cyprus...low taxes, english is second official language that makes it easy to communicate with official institutions and also in the daily life everybody will understand you, its the most sunniest place in europe, 2 airports...so you get very easily to all places in europe...

Has just indirect to do with the topic...http://www.cyprus-mail.com/low-key-w...ollar-business interview with one of the Alpari founders, they just opened a Alpari Tower in Limassol, Cyprus..by the way many forex brokers are located in cyprus
  • #17
  • Apr 18, 2012 10:05am Apr 18, 2012 10:05am
Quoting espen
I'm thinking more Mediterranean countries, because I have a young son who will need good schools etc... But thank you all for your contributions.
Croatia is still capital gain tax-free, the seaside has a Mediterranean climate and, as far as I know, there are American schools in at least some of the cities, i.e. Zadar (I heard there is a UK expat community there as well). Hope this helps.
  • #18
  • Apr 18, 2012 10:33am Apr 18, 2012 10:33am
Dubai is interesting, any traders can comment on rental costs for apartments?

Quoting dipakot
dubai is tax free
Tracking the Specialists.
  • #19
  • Apr 18, 2012 10:41am Apr 18, 2012 10:41am
Thank you for the link, it is an interesting insight into 'Mr. Alpari'

Quoting moneymob
Cyprus...low taxes, english is second official language that makes it easy to communicate with official institutions and also in the daily life everybody will understand you, its the most sunniest place in europe, 2 airports...so you get very easily to all places in europe...

Has just indirect to do with the topic...http://www.cyprus-mail.com/low-key-w...ollar-business interview with one of the Alpari founders, they just opened a Alpari Tower in Limassol, Cyprus..by...
Tracking the Specialists.
  • #20
  • Apr 18, 2012 6:51pm Apr 18, 2012 6:51pm
In my humble opinion, Andorra will be your best shot.

Regards,
MrJinks.
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