Or you sleep with Christine Lagarde or you are going to blow your account in matter of daysI have set my professional broker trading conditions at 1: 500
Or you sleep with Christine Lagarde or you are going to blow your account in matter of daysI have set my professional broker trading conditions at 1: 500
Or you sleep with Christine Lagarde or you are going to blow your account in matter of days
If that is annualized and you are making 1.8 million usd a year, then you should probably just get a real accountant/lawyer than a forum.I am currently working as a public servant. Another trade in the Forex market. I expect profits of $ 5000 a day.
Do you mind to elaborate why it should be wrong to stay in the Czech Republic for him?I think paracool's solutions are good, if you want to stay in your home country, old-school offshore company won't help you.
That's cool but you say it already, only for UK resident people, this guy is in the CzechUK spreadbet account .. tax free if it's not your main source of income... only available to UK residents
Czech Republic is in the EU one of the best places to be as a trader. Low income and corporate taxes!
Check this research: Czech Republic: Tax proposals expected in 2020Nice thread here. I live in Czech republic as well.
The tax system is nice, you're right, I don't have problem to pay 15% on personal income and 19% on corporate income. I even do not have problem to pay 15% on dividends. I do all that regularly and pay X0.000 EUR in taxes.
The only problem I have is once I will invest my already taxed money to trading US ETF/Stocks/Futures/Forex or whatsoever and want to keep the profits reinvested for long run. I understand the fact that in the future I shall pay the taxes once I will collect the profits to buy the Porsche, flat TV or ranch.
But if I want to invest the excess funds, the profit from trading is classified each year as other personal income, which is obviously not (as 100% of the funds are reinvested) and I have other sources of income (ie my business) covering my life expenses. Then it is taxed 15% as personal income.
Is there cost efficient solution for this? For example for trading profits X0.000 EUR? Like to estabilish a shell company (without employees like in Cyprus), do not touch the profits and let it roll? And where for trading US markets for EU residents it is the best? I have been experimenting with offshores with the experience that you can only open the bank account in the not very respected banks and if they go blacklisted by uncle Sam, you will probably loose your savings too.
I suggest to trade small amounts for at least a year, only professional traders that spend 120% time on trading and have advanced market reports makes money, and not all the time, some even have big losses.
You know the 90/90/90 rule?
Is a basic rule of trading. It means 90% of new traders loss 90% in 90 days, generally.
[/CITÁT]
I am sorry that I have to disappoint you, but still doing well I've selected the previous lines. Thank you all for your advice.
=
Well I know of only 3 possible ways to reduce your taxes:
1) Panama trust and the trust owns everything and you have a minimal salary.
If you trade for yourself and do not offer your service to others you do not need a licence.
If you trade as a private person it is easier to get a bank account. As a company I would recommend EMI`s.
Things changed for sure but Panama regulations are still the same:Does this still hold true?
1. Panamanian Trust (owns everything) and Minimal Salary
2. Trading for yourself does not require a license (in Panama)
3. EMI is recommended for Panamanian Trust
I'm looking for my Italian friend who resides in Ecuador and trades Forex. At this time, Ecuador would require a 10% Capital Gains Tax.
To avoid any taxes, I'm looking at a corporate structure similar to above. If a Panama Trust would not need a Forex License for trading yourself (no servive offering) and there is no taxation, the next hurdle would be Banking ... which would need to be forex and crypto friendly (with a debit card). Is this viable?
Note: If this setup required a residency card, then that could be arranged, as Panama and Italy have a treaty for instant permanent residency.