Singapore income tax for traders
- Thread starter AndyN
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There is no income tax due on sales of shares, properties, and other intangible assets in Singapore, but they become taxable when your primary purpose in buying and selling is to make profits. This especially applies to traders or dealers whose income is generated simply from conducting one's business.
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 public? - no, thanks
4. Gibraltar cat 2 - still need to pay an ever increasing lump sum tax
5. Monaco - overpriced real estate; lack of space
Any other countries I missed?
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 public? - no, thanks
4. Gibraltar cat 2 - still need to pay an ever increasing lump sum tax
5. Monaco - overpriced real estate; lack of space
Any other countries I missed?
1. Bahamas is solid and has good infrastructure, interesting tax rates as well and very close proximity to Miami. If any hurricanes happen you'll have many ways to protect yourself even though some property damage is the trade off.
2. Seychelles used to be a good︀ place but not anymore, too much hassle that makes it not worth the trouble.
3. Dubai is fine unless you're a complete reckless maniac, don't race in the highway with︁ a ferrari and don't do something obviously illegal (Trafficking, fraud, etc) and no one will︂ bother you. If you got dirty business keep it outside of the UAE and you'll︃ be good to go.
4. Gibraltar is fine but like Monaco, if you hate golden︄ prisons you'll hate the place quickly.
5. Monaco is monaco, every single person i know︅ who lives there just spends their time driving to France and Italy because they're too︆ bored of the principauté.
Try Malta, Cyprus, even Hong Kong if you got the money.︇ I know a few traders that moved to HK specifically because of their trading activities,︈ though with China close by it's becoming a difficult place. Thailand is another option i've︉ seen a few traders take.
Don't expect a magic 0% tax haven, as time goes︊ by they'll all be gone. Expect to pay some tax at the minimum, but as︋ long as you're not paying crazy US/EU rates you won't be in a bad position.︌
2. Seychelles used to be a good︀ place but not anymore, too much hassle that makes it not worth the trouble.
3. Dubai is fine unless you're a complete reckless maniac, don't race in the highway with︁ a ferrari and don't do something obviously illegal (Trafficking, fraud, etc) and no one will︂ bother you. If you got dirty business keep it outside of the UAE and you'll︃ be good to go.
4. Gibraltar is fine but like Monaco, if you hate golden︄ prisons you'll hate the place quickly.
5. Monaco is monaco, every single person i know︅ who lives there just spends their time driving to France and Italy because they're too︆ bored of the principauté.
Try Malta, Cyprus, even Hong Kong if you got the money.︇ I know a few traders that moved to HK specifically because of their trading activities,︈ though with China close by it's becoming a difficult place. Thailand is another option i've︉ seen a few traders take.
Don't expect a magic 0% tax haven, as time goes︊ by they'll all be gone. Expect to pay some tax at the minimum, but as︋ long as you're not paying crazy US/EU rates you won't be in a bad position.︌
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