It would be better than Dubai, for instance. But it would tax trader's profits as income.
My concerns when it comes to no-tax countries are as follows:
1. Caribbean jurisdictions - hurricanes
2. Seychelles - impossible to get residence permit
3. Dubai - jail sentence for saying the f* word in...
If someone's income comes from trading in financial instruments that are not listed in Singapore (or the broker that provides them is not in Singapore), are they taxed on this income anyway? If so, what is the lure of Singapore then? Its tax rates are quite high after all.
I have no right to enter the U.S. whereas I do have a right to enter and live in the UK as a British citizen. So USD is not really "my currency" but I need to use a lot of it because it dominates the financial markets/investments.
How possible do you think it is that one day they announce that...
Of course they do not. There is no law that stipulates that. They only report accounts of non-residents under CRS
Perhaps I should get interested in how UK non-domiciled residence works - maybe that would be a good solution for me
How will the find out? Banks/brokers do not report anythiing about their clients' accounts if they are resident in the same country as the bank/broker, do they?
I used to live and pay taxes in the UK and bought a property there (after I left the UK) but now I live and am tax resident in an EU country. I gave my UK address to a UK (CFD) broker and a U.S. (futures) broker when I opened the accounts with them. I notified HMRC that I am no longer resident...
So, is renting an apartment in Monaco, spending nights at a home outside Monaco and travelling in and out of Monaco every day for more than 183 days in a year, cheating? I want to obey their rules - if they say that the day when you arrive and leave count as a day spent in Monaco then there...
@Martin Everson My goodness, you really know your staff. Do you offer services regarding offshore to people with cases like mine?
Could you also share your thoughts on what I found on the web, please?
1. Monaco tax: tax certificate
"In practice, the tax authorities usually determine an...
I see. So that must mean that the super-rich give someone their bank card to make daily shopping in Monaco as this is supposedly required by tax authorities as evidence to issue a certificate of tax residence. Meanwhile, they are spending most of their time on a yacht or in a villa in France. I...
I am coming to a conclusion that Monaco is well overrated. First, I would not feel good living in an apartment as there are literally no detached houses there. Second, it is an overcrowded, loud, one big construction site full of flashy and dodgy people I do not want to be surrounded with...
Hi,
I read on some websites that banks in Monaco require their prospective clients to provide tax returns for the previous 2 years from their home jurisdiction to open a bank account which is one of the conditions for Monegasque tax residence.
Which banks, if any, do not have this requirement...
If it is a disregarded entity (single-member LLC where the member is U.S. non-resident alien), the brokerage house or the bank does NOT send any reports to the IRS themselves. Therefore, your local taxman will NOT find out about the existence of your LLC. Is that correct?
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