Anyone Trading from Tax Free Haven?

[Sahil]

Hi All,

Is anyone trading from a tax free place say Isle of Man, Dubai or Bahrain?

I am considering my options and was hoping someone has some practical experience out there. If anyone is trading from the above, or any other tax free base - pls drop me a line. At this moment in time I am particularly interested in the UAE.

I am trying to gather information on technology reliability, market access and possible opportunites.

Help appreciated !

Cheers in Advance

 

[sidinuk]

A lot of people think that the UK is a tax free haven, ie spreadbetting!

Seriously, are you prepared to move out of the country just to trade tax free?

 

[Sahil]

I was on holiday in the UAE recently and loved it there. A couple of ppl I know have lived out there and really liked it too; couldn't believe it was all tax-free. Thought why not do a little stint out there. Problem these guys were in IT and don't much about trading / financial world.

I was thinking along the lines of DMA as opposed to SB.

 

[sidinuk]

You need to be a UK resident to spreadbet anyway so you'd have to go direct access. Generally direct access is by far the better option anyway, even better if it's tax free!

 

[mbbcat]

Try Hong Kong??

 

[coolcola]

if you're going to get a job in UAE and live there, as well as become a stock trader, then that's awesome!!

but just going there so you can trade tax free... immature idea :|

 

[Anonymous]

Tax free havens are a myth.

A tax free haven has to be a protectorate of some powerful protector. And as at today there are a few powerful or semi-powerful protectors. Some are reliable, others not better than outright fraud with a capital F.

Some preach one thing but practise another.

Tax free havens supposedly give asset protection etc., supposedly don't give away the names of the real owner of the secret trust for example, but that piece of official document has to be witnessed by honorable professionals, who in turn practise the culture, the customs of that particular haven. Then one will think twice about the definition of "honorable" in that particular jurisdiction.

If the corruption index of the protector is way way at the bottom, where the government officials, the lawyers, the police, the judges etc., can be bribed, where they think that abuse of power is nothing wrong, where they think that pushing the right paper to the right department to sabotage the innocent is nothing wrong, how safe is one's money in a tax haven which is the protectorate of that corrupt protector?

 

[markb25]

Hi All,

Is anyone trading from a tax free place say Isle of Man, Dubai or Bahrain?

I am considering my options and was hoping someone has some practical experience out there. If anyone is trading from the above, or any other tax free base - pls drop me a line. At this moment in time I am particularly interested in the UAE.

I am trying to gather information on technology reliability, market access and possible opportunites.

Help appreciated !

Cheers in Advance

Sahil, I am in Bahrain and have lived here for the last 15 years - all tax free. I know of forex traders who have moved to Dubai to excape the tax. I did live there some time ago and I have recently visited. Good sports facilities and the weather isnt too bad. Upto date inet and telecomunication system. If you buy a property there you also get a residence visa.

Mark

 

[nagula]

hmm, what if you bought a home in a tax free/low tax country and also had a house in the UK..
what would it take to be seen as a residence in the low tax country instead of the UK, does that depend on how long you spend in the low tax country versus the UK?

does anyone have any knowledge/experience or views on this?1

 

[markb25]

hmm, what if you bought a home in a tax free/low tax country and also had a house in the UK..
what would it take to be seen as a residence in the low tax country instead of the UK, does that depend on how long you spend in the low tax country versus the UK?

does anyone have any knowledge/experience or views on this?1

I also have a house in the UK. I think you are classed as non resident for tax purposes if you are in the UK for no longer than 90 days, but I am sure there are other people here who can advise you on this.

Mark

 

[hanif]

Which Stockmarket will you be trading ? Will staying in Dubai and trading UK stocks , CFDs etc still be Tax Free ? If so very interesting idea.

 

[nohare]

Hi Sahil,
I will be able to help you if you are interested in Cyprus. ( Tax Free)
The technology reliability is very robust ( based around military infrastructure ) and reliable, market access via broadband has been great. We have traders there now and should be opening a bigger office in November

Cheers
Nohare

 

[chump]

Cyprus,
"Tax free"....now you must be using a different tax book to me ..the cypriot tax system is actually quite benign ,but tax free ..hmm what's the catch ?

 

[Quenkish]

Hi Sahil,
I will be able to help you if you are interested in Cyprus. ( Tax Free)
The technology reliability is very robust ( based around military infrastructure ) and reliable, market access via broadband has been great. We have traders there now and should be opening a bigger office in November

Cheers
Nohare

malta has the edge over cyprus

 

[chump]

LOL it has if you like having your own 'air' space which for the unitiated refers to the density of building on Malta ....also not very 'green' and a little small ,but otherwise the island population are very nice indeed.

 

[nohare]

Cyprus,
"Tax free"....now you must be using a different tax book to me ..the cypriot tax system is actually quite benign ,but tax free ..hmm what's the catch ?

The catch is you have to spend £12,500 cyp to avoid any tax liability. I'm sure you could manage that just in rental.

 

[zupcon]

LOL it has if you like having your own 'air' space which for the unitiated refers to the density of building on Malta ....also not very 'green' and a little small ,but otherwise the island population are very nice indeed.

I conduct business from Malta due to the advantageous tax position. Company profits are taxed at around 4.2%. Trading from here is not without problems, the ISP's and telecoms are a little unreliable. The biggest problem is of course that the island is prone to power cuts particularly in summer which can result in absolute chaos.

Apart from that there's sod all to do here !

 

[chump]

Apart from that there's sod all to do here ...LOL and that's what keeps me from moving to small islands ..it would cost me a fortune in airfares flying elsewhere for regular breaks ..actually that doesn't count as I already do that anyway ...is the Maltese corporate rate pegged at 4.2% or is it due to rise..I ask because Cyprus rate at 4.5% will rise to 10% soon for 'offshore' reg'd companies ?

May I also take the opportunity to say the Cypriot people are also extremely nice to get along with (excluding their propensity for toasting little sparrows which is not to my taste which means as I am not eating it leads to me drinking too much of their red wine on an otherwise empty stomache LOL )..if the island was larger with more diversity of 'culture' for want of a better word I would be there before you could say 'Granny Gordon goodbye' .

"12.5k" ..is this some recent change ? I'm not familiar with it, but I am out of date if you know what I mean.

 

[Games-thucked]

zup

I conduct business from Malta due to the advantageous tax position. Company profits are taxed at around 4.2%. Trading from here is not without problems, the ISP's and telecoms are a little unreliable. The biggest problem is of course that the island is prone to power cuts particularly in summer which can result in absolute chaos.

Apart from that there's sod all to do here !

you still trading from malta and what products,, any LIFFE ones by chance?

 

[Amun-Ra]

it's true, no CGT in Cyprus. they're having a big push at trying to turn Cyprus into a big financial centre. nice place if you can stand the heat in the summer. expect Bahrain, dubai will also be as bllisteringly hot in summer as well - too hot for me. why not try the winter months there and the summer months in Sweden trading CFD's (tax free). nice mild weather all year and the time zone differences aren't too great.