Countries Where Fx Trading Is Tax Free
Updated: Apr 18, 2019
So, you want to know which countries offer a nice little haven for us Forex Traders ey?
Well, let's see if we can oblige..
Before we begin though we should state that we are not registered tax advisers and the information in this article is for informative purposes only and should not be considered advice!
ok, now that's all out the way, let's get into the juicy bit of where Fx Trading Is Tax Free!
1. Dubai - Dubai in the UAE, is a largely tax-free country. They have introduced VAT but that is all! that means investors all over the world are taking advantage of this and moving their resources to the UAE. Those choosing to trade out of here also benefit from fixed spreads!
2. Monaco - A tax haven for people living in higher tax EU countries. Always an option, however, just bear in mind that anything you save in tax by trading from here, would likely be a small amount, compared to the massive amount extra your going to have to fork out in living costs! Monaco is not cheap!
3. Brunei - Ok, so this one was a possibility. However, with the introduction of stoning to death for adultery and homosexuality, we can think of easier places to trade with tax advantages!
4. The Bahamas - Well, to be honest, we would recommend taking residency on this beautiful island whether there were tax advantages or not! Becoming a resident is, apparently, surprisingly easy and requires a modest amount of investment into the country - some sources say $1000 annually for a temporary visa which is renewable annually! What are you waiting for!?
5. Vanuatu - Although not as accessible as The Bahamas to obtain residency, it still offers a very efficient tax haven if you have a little more cash to invest in purchasing or renovating a property. if you're looking for island life in the South Pacific, this could be the place for you.
6. The Uk - Just wanted to mention the UK here because you can spread-bet Forex Tax free, as long as it is not your main source of income. As most people lose at spread-betting and it is considered gambling by the UK Government they do not tax it. However, if you practice and become good at it and it becomes your main household income you would be liable for tax payments, sorry!
In the end, our advice is to practice honing the skills of Fx Trading that are going to allow you to make the kind of money where you need to worry about the tax implications in the first place!
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