South of France?

[Airthrey Capital]

This is a long shot, but does anybody here trade from the South of France?

The reason I ask is because I spend 2 months a year (June / July) in the South of France, where I continue to trade from.

I am considering relocating there full time, with family next year.

Just wondered if there were any fellow traders out ther who are located in the Cote d'Azur area?

 

[emasiello]

Not South of France but will be relocating to Valencia (with family in tow) in the next 4/6 weeks,

 

[Zenda]

Do you want a Gardener??

 

[pkfryer]

I trade sometimes from my parents house in dordogne for several months a year. Was thinking about buggering off to the south of france too eventually. Is it tax free? I know for sure its a damn site nicer and the houses are still reasonably cheap!

 

[theknifemac]

I trade sometimes from my parents house in dordogne for several months a year. Was thinking about buggering off to the south of france too eventually. Is it tax free? I know for sure its a damn site nicer and the houses are still reasonably cheap!

PK

Judging by the number of Frenchies working in the City I guess that tax is higher in France than it is here..... Just recently back from a week in FuerteVentura and I could see myself trading from there for sure. They're not in the EU either, not sure if that would be an advantage though !

Cheers

Stew

 

[minx]

PK

Judging by the number of Frenchies working in the City I guess that tax is higher in France than it is here..... Just recently back from a week in FuerteVentura and I could see myself trading from there for sure. They're not in the EU either, not sure if that would be an advantage though !

Cheers

Stew

I know of one trading shop being set up in Malta, also believe the cost of living there is very very cheap.

 

[minx]

I know of one trading shop being set up in Malta, also believe the cost of living there is very very cheap.

Oh yeah, as far as I'm aware I think they have a tax deal whereby the traders pay about 4%....... am looking into it rather slowly so dont have all the details yet.

 

[pkfryer]

Looks like its malta then! Wasn't too keen on malta really, but I'm sure I'd manage somehow

4%?! Do they have broadband or is it still smoke signals they are using?

 

[minx]

Looks like its malta then! Wasn't too keen on malta really, but I'm sure I'd manage somehow

4%?! Do they have broadband or is it still smoke signals they are using?

Not really sure, think its a big broadband pipe, will try to get some more info today.

 

[alpha_monkey]

Oh yeah, as far as I'm aware I think they have a tax deal whereby the traders pay about 4%....... am looking into it rather slowly so dont have all the details yet.

Perhaps a comment for Blairlogie's useful tax thread, but.....

- Is 4% tax the vanilla set up in Malta for trading profits?
- Does the UK have a double taxation treaty with Malta?
- What restrictions are there on repatriating foreign earned (tax paid) income into the UK?

Secondly, and this is more of an open thought than a question.... Is there an offshore structure out there that is more tax efficient for the individual UK based trader than simply trading and booking trades / profits / income in the UK?

With the advent of EU expansion and high quality internet connections, the above, to me, becomes more and more interesting.

AM

 

[zeeuk]

What not trade from Gibralter instead? Tax free (or thereabouts) and have heard communications are as good as City. And for Direct Access traders, heard CBOT have/about to put in hub - no doubt the likes of Eurex will follow suit if not already there.

Facts need to be verifies though.

 

[pkfryer]

If you are taxed on income whilst working abroad you are charged at the local rate, I believe. I have had several IT friends that have worked in the middle east on contracts where you dont get taxed at all, and they weren't retaxed on entry.

But trading profits isn't classed as income unless you pay yourself a fixed waged from your profits via a company. So I think it would still be classed as capital gains tax if it goes into a UK account even after taxation in the local country. But I'm not 100% sure... where can we find out about the rules?

Anyway, why would you want to bother going back into the UK? Theres better, more gorgeous places to live your life out! ... and cheaper too

 

[MysticalTrader]

Ring the Inland Revenue, but not one of the schmoes on the call centre. Alternatively, try one of the banks that specialise in offshore (e.g. Jersey), Failing that, try a beancounter, oops, accountant.

MT

If you are taxed on income whilst working abroad you are charged at the local rate, I believe. I have had several IT friends that have worked in the middle east on contracts where you dont get taxed at all, and they weren't retaxed on entry.

But trading profits isn't classed as income unless you pay yourself a fixed waged from your profits via a company. So I think it would still be classed as capital gains tax if it goes into a UK account even after taxation in the local country. But I'm not 100% sure... where can we find out about the rules?

Anyway, why would you want to bother going back into the UK? Theres better, more gorgeous places to live your life out! ... and cheaper too

 

[zeeuk]

pkfryer, do ur IT mates know of any Trading firms in middle east tax free areas, or indeed anywhere in the world. I like the sound of TAX FREE! Cheers.

 

[mikeyk]

Zee i belive that Mac are setting up and office in Dubai shortly

 

[zeeuk]

yea I've also heard about that - but don't know when. They've also got one in Gibralter. Do you have some inside info?!

 

[GirlPower]

Not sure if I'm gauging the intent clearly here, but you could always move to the south of France or elsewhere, after setting up a UK Ltd.

Dividends and salary are free of UK income tax from a UK company provided you are resident outside the UK with appropriate and sufficient official supporting documentation to support your residency.

This applies to SB or pro trading income.

You might want to check your 'local' area for tax burden.

 

[pkfryer]

Unfortunately I think you'd probably either get blown up, bombed or shot if you went where they went So perhaps its not exactly a 'haven' even if it is tax free.

But if you are looking for tax free, look for a kingdom in the middle east, a country own by rich oil barons... they are often the ones that dont bother so much with tax. They have so much money that the entire country is pretty much their private property. Politically unstable and probably a bit dodgy and western phobic. I'd rather be taxed and have security than not be taxed and have to plant mines outside my house

 

[Henry]

Not sure if I'm gauging the intent clearly here, but you could always move to the south of France or elsewhere, after setting up a UK Ltd.

Dividends and salary are free of UK income tax from a UK company provided you are resident outside the UK with appropriate and sufficient official supporting documentation to support your residency.

Free of UK tax yes, but if you reside in France (ie spend more than 180 days a year there), the French tax authorities will tax you on your worldwide income.

French tax rates on trading income can be up to 65% once all the social charges are taken into account as well. Dubai sounds more promising :cheesy:

H/

 

[minx]

yea I've also heard about that - but don't know when. They've also got one in Gibralter. Do you have some inside info?!

Mac are going to take over the world as far as I can see, I think they have offices in Toronto, NY, Chicago, Gib, Sydney, Brighton and of course London.....
Any others I've missed ?