9 Best Countries for Day Traders to Live In

9 Best Countries for Day Traders to Live In

Day traders are not limited by location. As long as they have a computer with a reliable net connection, they can conduct their business anywhere in the world. With this unique advantage, they seek location independence that offers low to zero income taxes, relaxed visa laws, inexpensive cost of living, and high quality of life. In this article, we put together a list of the best countries for day traders to live in based on the factors mentioned. 9 Best Countries for Day Traders to Live In

9. Bahamas

This exotic Carribean Island makes the list largely due to its zero personal income tax policy. Quality of life is also awesome with its pristine beaches, unique cuisine, and friendly population. Furthermore, the country’s reliance on tourism makes it easy for foreigners to acquire visa.

However, cost of living is off the charts. Expatistan gives Nassau, Bahamas 242 out of 280 in its cost of living index.

8. Dubai

At number 8, Dubai is much like the Bahamas: no income taxes are imposed, high quality of living, and relaxed visa laws for qualified foreigners. However, the cost of living index is lower at 208 according to Expatistan.

The only downside for foreigners is government restriction on online activity. Nevertheless, Dubai is still one of the best countries for day traders to live in.

7. Spain

Some of the most expensive cities to live in are in Europe. Spain seems to defy this trend. Although the quality of life is comparable to other expensive European cities, Expatistan reports Madrid’s cost of living index at 149. Moreover, access to visa is easy.

The only reason why Spain is not further up the list is its income tax rate of 24 percent. If you don’t mind paying the government over a fifth of your income, Spain can be your sanctuary as a day trader.

6. USA (Miami, Florida)

If you’re an American, you don’t need to leave the country to enjoy similar benefits. Just head south. With a quality of life that surpasses many countries and reasonable cost of living (130), Florida comfortably occupies the 6th spot in our list. More important, the state does not impose personal income taxes.

Foreigners, however, may not experience these benefits considering strict visa laws implemented by the U.S.

5. Russia

Who would have thought that Europe’s most intimidating country can be a haven for day traders? According to Trading Economics, income tax in Russia has been steady at 13 percent since 2006. When compared to other countries in Europe, cities like St. Petersburg (cost of living index at 103) are relatively cheap with a high standard of living. Furthermore, visa access is easy for qualified foreigners.

4. Panama

A combination of cheap cost of living (153) and high quality of life make the Central American country the world’s number one retirement destination.  If you add the fact that no taxes are imposed on foreign income, you can easily understand why Panama sits number four on our list.

In Panama, you can explore many tourist attractions without breaking the bank. You can live the retiree’s lifestyle while earning as a day trader.

3. Philippines

Although the Philippine capital ranks 136th in the recent Global Quality of Life survey, foreigners love staying in the South East Asian archipelago because of relaxed immigration laws, low foreign income taxes, favorable foreign exchange rate (45 Php = 1 USD), and cheap cost of living (112). In addition, communication barrier is not an issue as Filipinos are excellent English speakers.

2. Thailand

Will you move to a country with no capital gains and foreign income tax, inexpensive cost of living (116), and easy visa requirements? Welcome to Thailand where foreigners can enjoy these benefits and more. The reason why the country is not at the top of the list is its quality of life which is not far from what the Philippines can offer.

1. Costa Rica

Costa Rica do not impose taxes on income earned abroad. Cost of living (130) is inexpensive, too. The best part is the country’s superior quality of life. As cited in Business Insider, a survey conducted by the New Economics Foundation in 2012 reveals Costa Rica as the happiest place on Earth.  As an added bonus, visa laws are relaxed. As a matter of fact, you can stay for up to 90 days in the country without a visa depending on your nationality.

With these benefits, it’s only right that we give the first place award to Costa Rica in our list of best countries for day traders to live in.