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.
But do they count trading income from CFDs as income and therefore taxed on income?
I have no idea whther that is still the case - it's been 3+ years since my last post on this subject. But if Europe is where you want to trade from why not take a look at Cyprus, Gibraltar or montenegro. All have no CGT for CFD trading, or you could as someone else mentioned trade using spreadbetting and base yourself in the UK.
I am in the UK, I'd rather be elsewhere :cheesy:
If you make your money only trading CFD, wouldn't you also be subject to income tax?
I think Gibraltar has some income tax...
You don't need to live in a tax free haven.
Broker in the US. Bank in Isle Of Man, live outside of Europe or USA and trade online.
You'll be fine doing this IMO. You just need to limit the amount of days per year you spend in the UK but trust me, that wont be an issue.
DionysusToast - It's unfortunate that you are in the US and can't make use of spreadbetting like myself and SanMiguel in the UK. I think you should lobby Obama to make spreadbetting legal in the US, then i'll apply to emigrate and have the best of al worlds!!
You don't need to live in a tax free haven.
Broker in the US. Bank in Isle Of Man, live outside of Europe or USA and trade online.
You'll be fine doing this IMO. You just need to limit the amount of days per year you spend in the UK but trust me, that wont be an issue.
you are basically advocating tax evasion, correct?
SanMiguel - "Won't happen". I agree, especially after the credit crunch. every western govt needs every cent/penny it can get it's hands on. there'll be no free lunch (except for bankers) for a long time. Is this why you are thinking of leaving the UK SanMiguel - The potentially much reduced standards of living in the UK in the near future?
you are basically advocating tax evasion, correct?
DionysusToast - Why make life so complicated? Living outside of Europe (if you are trading Euopean instruments) can also bring it's own problems, like time zones. I don't like the idea of starting my morning at 1:30/2 am in the Carribean to trade European instruments. Also, you'd only have 90 days a year available in the UK and days travelling into and out of the UK will also be included in that 90 day allowance now.
DionysusToast - It's unfortunate that you are in the US and can't make use of spreadbetting like myself and SanMiguel in the UK. I think you should lobby Obama to make spreadbetting legal in the US, then i'll apply to emigrate and have the best of al worlds!!
I trade from Malta. They have a Non-Domicile rule like UK and Ireland. As long as overseas income is not remitted in the same tax year it is tax free. Cheap rent, best climate in the world (according to International living) no council tax. Plus good connections to Europe.