What is the country with the lowest capital gains?

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pkfryer

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I'm looking for a country (somewhere warm and pretty) that also has the lowest capital gains tax! Which is it? And how does the law work, are you taxed according to your country of origin, the country your bank is in OR the country you current reside in permanently?

I've decided that its too complicated working out ways to avoid tax and live in blighty. Why bother to battle your way through tax work arounds just to live in old blighty when there are hundreds of much better countrys out there where you can get more than just a shed for £200K.

Cheers
 
PK,
As I recall you were sitting on the sidelines in property and from your comment "where you can get more than just a shed for £200K." is this the impetus for a move elsewhere ? If so I would suggest you widen your focus....looking only at tax issues may not be the solution...consider most low tax regimes (a number of in the carribean) attract the wealthy which in turn pushes up property prices...those regimes that do not attract the wealthy typically have sociogeopolitical (new word?) reasons for such an outcome...so from your viewpoint maybe you should push tax to oneside and think in terms of where you will get more value for your money ie where the cost of living is lower irrespective of tax...this then brings in many more alternatives..all of eastern Europe for one....I personally like Hungary...great culture...relatively still cheap compared to the UK...more advanced though than many other Eastern European countries (Captalistically)...real seasons...Sun and Snow....hell I'm making it sound so good I should go myself ;)
 
I think Estonia has scrapped all corporation tax and perhaps capital gains tax. Slovakia just cut its tax rates to 19% and its capital is just 50miles from Vienna. Neither of thse will be a particularly warm country. You could relocate to Gibraltar and I think you pay a flat £10k in tax, then nothing else. Or you could register to live in Andorra but actually live in Barcelona and just avoid the Spanish tax man. Of course you could get into real trouble if they catch you out but would make for a great lifestyle, beach and sun in the summer then live and snowboard at your mountain retreat over the winter.
 
If i was going to relocate i would seriously consider Dubai.
Tax free haven. I have just seen pictures of a new development on a man made island which is shaped as a palm tree just off the coast. The development looks amazing.


Faris
 
Faris said:
If i was going to relocate i would seriously consider Dubai.
Tax free haven. I have just seen pictures of a new development on a man made island which is shaped as a palm tree just off the coast. The development looks amazing.


Faris
Click to expand...


That's old news mate, it's already been built and can be seen from space, although the infrastructure isn't complete yet.

The map of the world's not been started yet but when it's done, in the not too distant future seeing as they're totally minted round there, you'll be able to buy any country in the world.

Also there's meant to be an underwater hotel in the pipeline too. Not that you'll have to get wet to go there, I think there's plans to have a massive underwater dome ! This lot know how to spend. I mean, where else do you get seven star hotels ?

.
 
pkfryer said:
I'm looking for a country (somewhere warm and pretty) that also has the lowest capital gains tax!
Click to expand...
I believe many countries don't have CGT as such, at all. Try the Bahamas. There's no income tax or CGT there, I believe (but the import duties are high).

Two websites for you (where these and other relevant questions are discussed):

www.escapeartist.com

www.internationalliving.com

Nice to know I'm not alone in my thinking. :)
 
"Nice to know I'm not alone in my thinking"...I believe a recent survey came up with a huge figure for the number of people who a) intended to relocate and b) the number who would relocate given the opportunity.........LOL...when we've got you all out this is going to be a hell of a nice place to live ;)
 
I suppose so ... :)

It's a hell of a big thing to do. But the popularity of the recent spate of TV programmes on relocating overseas (A Place In The Sun and the others) shows that it's perhaps more than just idle curiosity for many people.

The funny thing is that I remember how p****d off my mother and sister and I used to get with my late father, when we were young, and he used to hear of some recent/current abomination and say "Right, that's it - we're going to go and live abroad", until, one day we really did (which lasted for about 3 years).

But I find myself feeling the same way now.
 
chump said:
"Nice to know I'm not alone in my thinking"...I believe a recent survey came up with a huge figure for the number of people who a) intended to relocate and b) the number who would relocate given the opportunity.........LOL...when we've got you all out this is going to be a hell of a nice place to live ;)
Click to expand...

I've lived abroad for over 10 yrs and now live in London. many Brits who want to leave and live abroad are clueless...
examples;
1. Dubai is hotter than hell and you will be living indoors in a ghastly concrete jungle -- you'll be bored out of your mind in 6 months
2. In foreign countries -- believe it or not -- they actually speak foreign languages
3. France is a left-wing country with exhorbitant tax rates.
4. Most countries have income tax - shock horror
5. Brits form expat ghettos and push property prices up.
6. Brits are boozehounds and eventually become alcoholics on cheap booze.

Most Brits abroad moan about the UK and moan about the country where they have relocated to. The locals can't stand them because they bring the Brit booze culture with them, don't speak the language ( and are too arrogant to learn), keep moaning, nip back to UK to use NHS - which they are no longer paying for. The list goes on. Believe me, if you want to improve your life, do something about and quit bitching and moaning about how fab it would be to sit on a beach all day -- there is a ton of opportunity in this country as 95% of population are lazy and there is no competition -- including trading.

Nuff said.
 
Chump, you hanging around in old blighty then?

I have several friends that have made the move. Both my parents are ex-pats... father in Australia and mother in South of France. I've been living in france for the last 3+ months and I got use to living there. (no internet connection though). When I came back to blighty... I thought: What am I doing here? Is this place worth the high tax and house prices? No!

I thought Malta was meant to be a tax haven? I'm going to check out those websites. Looks like theres a lot of us traders thinking along similar lines. Just as long as you've got an internet connection your sorted. If you dont do day trading you don't even need more than a modem connection.

One thing that puzzles me... what is the law? Is it where you live, where your bank account is or your country of origin? I'm guessing its not the latter, but I'm confused as to whether you have to change citizenship to take advantage of local tax laws? Anyone know?
 
pkfryer said:
Chump, you hanging around in old blighty then?

I have several friends that have made the move. Both my parents are ex-pats... father in Australia and mother in South of France. I've been living in france for the last 3+ months and I got use to living there. (no internet connection though). When I came back to blighty... I thought: What am I doing here? Is this place worth the high tax and house prices? No!

I thought Malta was meant to be a tax haven? I'm going to check out those websites. Looks like theres a lot of us traders thinking along similar lines. Just as long as you've got an internet connection your sorted. If you dont do day trading you don't even need more than a modem connection.

One thing that puzzles me... what is the law? Is it where you live, where your bank account is or your country of origin? I'm guessing its not the latter, but I'm confused as to whether you have to change citizenship to take advantage of local tax laws? Anyone know?
Click to expand...

Check out the French income and soc security taxes -- makes UK look like a tax haven -- you are either not earning anything or you are evading tax.
 
I wasn't thinking about france dax. Just said I had lived there at my mothers for the last 3 months.

I wouldn't dream of living and trading in France. The thing that attracts people to france is the extremely low property value but that is exploding now (probably because of the british invasion). I didn't actually like the british over there but I liked the climate and the countryside. The british go there because its cheap, but find out that tax is huge! 19.5% VAT! Food is expensive too. My mother is planning on moving to New Zealand after only a few years. Most of the brits are bloody awful and I get the feeling the french dont particularly like them.

All I know is that england is pretty close in tax levels and cost of living is just as high. But even worse than france, its colder and the house prices are 5 times higher AND its FULL of british! >:O)

Its not worth being here, I just want to find the best place to go for tax, property, and cost of living.
 
pkfryer said:
I just want to find the best place to go for tax, property, and cost of living.
Click to expand...
You'll never believe me, but at the moment it might actually be Ecuador! Quito is in many ways the best capital city in the world. Bahamas and Malta are also both worth looking at, each with many advantages and relative disadvantages.

You'll find many reference and links to other sites on the links I offered earlier, which will (eventually) answer all your other questions above. Sorry not to be able to provide "quicker answers" but these are all very complicated questions!
 
Fair enough Roberto I'll check out your links without further ado!

Thanks for your help! See you in Ecuador?
 
pkfryer said:
One thing that puzzles me... what is the law? Is it where you live, where your bank account is or your country of origin? I'm guessing its not the latter, but I'm confused as to whether you have to change citizenship to take advantage of local tax laws? Anyone know?
Click to expand...

I'm notsure what exactly qualifies you to pay tax in the country of your choice but to be considered ex-pat fromUKis as simple as spending less than 90 days in UK in a year.
 
Pkfryer,

Based on some articles I read two or three months ago, the answer to your problems is probably Panama. I am not going to pretend I remember the details but I suggest you check. It is based on an individual 'retiring' and there is no minimum age limit; the package comes with cheaper housing, transportation, food, cinema tickets etc. I might also add that contrary to popular belief, Panama is a very safe country to live in. Worst case scenario you waste your time checking it out.
 
pkfryer said:
See you in Ecuador?
Click to expand...
Alas, no chance. I had the extreme good fortune a couple of months ago to acquire a very young and wonderful wife; the downside is that she absolutely hates even the idea of South America. I think it will be Malta for us (also not so bad, and many advantages for proximity to the rest of Europe, etc. etc. The only thing is that at the moment the high-speed cable ISP's there are not up to UK standards, but that will probably change quite quickly.)

LION63 said:
Based on some articles I read two or three months ago, the answer to your problems is probably Panama.
Click to expand...
Yes indeed ... at the time (about 6 months ago) I worked it out that it was probably Ecuador, Panama was certainly pretty high on the list, and a potential second choice for me ... the only problem being that I'd never actually been there!

To be realistic, it will probably be another 2 years before we "make the move". :(
 
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