Which countries are tax free for forex trading? | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Which system is the best? Or which combinations of systems work the best? 46 replies

which broker offers free Thomson IFR Forex Watch? 5 replies

Which brokers are open and which are closed during Christmas 1 reply

Which Indicators to Which Pairs ?? 17 replies

which pairs to watch at which open/close 5 replies

Which countries are tax free for forex trading?

  • #41
  • Jul 3, 2013 11:21pm Jul 3, 2013 11:21pm
Quoting anilcashtips
{quote} Hello I am From India. Full Time Forex Trader, but the only thing is that in India Our Reserve Bank Of India has ban on forex trading. so just I would like to know that . if i want to come dubai and I would like to do forex trading means. First I need one bank account in dubai and at the same time I need dubai country Photo ID (In my Name) and local address proof to open Bank Account. And the second thing is if come on visitor visa it is illegal to do business in dubai so what is the best way to come dubai? so Is there any right way to come...
hie its not illegal but ya there are certain limits for withdrawls in India one can transact 200000 USD in one financial year without informing RBI . if you still have doubt just search for 2lac limit by RBI .
i just wonder if you think that trading FX is illegal then how come you are a full time trader , if there is any other way out plz tell me because i am hitting full time by next month
  • #42
  • Aug 9, 2013 5:30pm Aug 9, 2013 5:30pm
Cool, I am from Indonesia, and I used to live in the US.. Well, trading in Indonesia is good and pretty safe actually
  • #43
  • Aug 11, 2013 5:33pm Aug 11, 2013 5:33pm
has anybody thought about New Zealand?

if you trade long-term forex, you`re profits will be tax free.
if you trade short term, you could open an opposite trade to lock in your profits and delete the orders in say 6-12 months.

no capital gains tax at all in NZ.
  • #44
  • May 14, 2014 3:33am May 14, 2014 3:33am
I'm Australian (non resident) setting up a Cyprus company to trade with a UK CFD provider, from my home in Thailand, through a Swiss bank account.
Should that be tax free?
Are any agency's on the net trustworthy to set up the company, reporting and bank account---giving them power of attorney??
  • #45
  • May 14, 2014 4:09am May 14, 2014 4:09am
Unless you are someone hapless like American or Eritrean, acquiring residency on Mars will be the end to all taxation worries. :nerd:
  • #46
  • May 15, 2014 3:02am May 15, 2014 3:02am
Thanks Grin, but has any one experienced with their trading companies in Cyprus have any useful advice? I wont be that hapless--- I can channel any profits to a worthy cause-- like the gates foundation- except with a slant to environmental clean up (on earth)
  • #47
  • Jul 26, 2015 3:28pm Jul 26, 2015 3:28pm
Quoting willf
{quote} Tax is payable on forex gains in the UK. But I assume you are spreadbetting?
Tax is payable in UK ??? even if I am not a resident of UK and only have a trading account with a UK based broker still I need to pay tax?
please guide...
  • #48
  • Jul 26, 2015 3:55pm Jul 26, 2015 3:55pm
Quoting sarvesh2509
{quote} Tax is payable in UK ??? even if I am not a resident of UK and only have a trading account with a UK based broker still I need to pay tax? please guide...
If you are spreadbetting and have a alternative income that is considered your main income that is taxable you are ok, if you are a full time spreadbetting and it is your only income you can be seen as a professional gambler and it can then become taxable. best to seek advice from an accountant that knows the area.
  • #49
  • Jul 29, 2015 9:14am Jul 29, 2015 9:14am
I don't think anybody has brought this up yet, but the US has a 60/40 split on taxes for futures and forex. 60% is taxed capital gains and 40% regular income. If you make $200,000 in forex you will pay about 16% in income tax and that is not including any standard deductions.
  • #50
  • Jul 29, 2015 12:19pm Jul 29, 2015 12:19pm
I got a question if Cyprus is non-tax country, so how this island get money for itself? Or it just collect very small tax?
  • #51
  • Jul 29, 2015 12:58pm Jul 29, 2015 12:58pm
Quoting n_aftab
{quote} If you are spreadbetting and have a alternative income that is considered your main income that is taxable you are ok, if you are a full time spreadbetting and it is your only income you can be seen as a professional gambler and it can then become taxable. best to seek advice from an accountant that knows the area.
Agreed. I spread bet for this reason.
FX and CFDs are seen by the UK government as investments therefore you pay capital gains tax on your profit and income tax on your main job salary. If you trade full-time then you will pay income tax on your profits.
Spreadbetting is classed as gambling in the UK. Winnings from gambling are tax free HOWEVER, if you gamble fulltime and declare your winnings as your principle income you will pay income tax.
  • #52
  • Jul 29, 2015 3:20pm Jul 29, 2015 3:20pm
Quoting Ezreal
I got a question if Cyprus is non-tax country, so how this island get money for itself? Or it just collect very small tax?
Cyprus is NOT tax free and you will not find a single country in the EU that is.

The channel islands (Jersey, Guernsey, ...) and the isle of man are low tax and I believe the isle of man has a total upper limit of income tax (not sure on that one).
  • #53
  • Jul 29, 2015 3:32pm Jul 29, 2015 3:32pm
This thread was started in 2012
Now in 2015, there is a new place tax free
The Islamic State -- IS
  • #54
  • Jul 29, 2015 3:55pm Jul 29, 2015 3:55pm
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.
indonesia is free forex tax.
we don't predict, we only ride
  • #55
  • Jul 30, 2015 4:05am Jul 30, 2015 4:05am
Quoting cakrajaya
{quote} indonesia is free forex tax.
If it's duty-free, why too few forex brokers out there?
  • #56
  • Jul 30, 2015 4:10am Jul 30, 2015 4:10am
I recomend you United Arab Emirates.
Very developped finantial institutions & services.
One of the best place you can be..
Rgds
  • #57
  • Jul 30, 2015 5:33am Jul 30, 2015 5:33am
Dubai is tax-free but expensive to live. I am thinking to move to Poland or Lithuania or Latvia or Estonia.
  • #58
  • Jul 30, 2015 5:41am Jul 30, 2015 5:41am
Quoting Ezreal
{quote} If it's duty-free, why too few forex brokers out there?
I do not know exactly why. from my opinion and experience maybe there several reason:
1. forex debatable about is it gambling or not
2. for broker company absolutely there tax

but for the trader it is tax free, it is still unregulated tax from forex profit. I trade and all my profit is free tax.
we don't predict, we only ride
  • #59
  • Jul 30, 2015 12:41pm Jul 30, 2015 12:41pm
Some of the "information" offered in this thread is very out-of-date now; some was also inaccurate and misleading when it was originally offered and is still inaccurate and misleading now. The words "caveat emptor" and "take professional advice" spring to mind.

In the UK, spreadbetting profits are classified as "gaming" and as such are subject to neither Income Tax nor Capital Gains Tax (even if they constitute the trader's sole earnings).

Under a relatively new scheme, some immigrants to Portugal don't necessarily have to pay any taxes at all on "overseas income" arising within their first 10 years of residence in the country, but as far as I'm aware it hasn't yet been established whether income from offshore trading accounts, arising through remote electronic trading performed inside the country falls within this definition. It's being debated by international accountants and tax planners at the moment, and has the potential to become rather a significant issue, when it's eventually resolved. Quite an important issue to follow, for anyone considering the prospect of going to live in Madeira or in The Azores, and making a living there by remote trading.
  • #60
  • Aug 8, 2015 9:48am Aug 8, 2015 9:48am
Hello.

Companies in Cyprus are tax free on stocks and bonds but , the capital gain of 12.5% applies to forex profits.

I do operate under a limited company in this country, currently trading stocks and considering forex. Although this tax is making me think twice.

I am consdiering to setup another limited company in a country where forex is tax free.
0 traders viewing now