Trading account

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Tina1
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Trading account

Post by Tina1 » Fri, 29 Oct 2010 11:34 pm

Hello! It is possible that I have to leave Singapore soon and I am wondering what to do with my trading account... I trade quite actively and like the fact that there is no capital gains tax in Singapore. Does anyone know whether I would have to set up a legal entity in order to be able to keep the account officially in SG as non-resident and to ensure that I only get taxed in SG on that account? The costs of setting up an entity might be lower than having to pay capital gains tax back home.
Thanks.

beppi
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Post by beppi » Sat, 30 Oct 2010 1:04 pm

Ask the bank about rules for keeping an account without residence here. I have kept bank accounts in various countries after leaving without any problem (they just sometimes insist on a local mailing address).
Taxation depends solely on the tax rules of your resident country (and possibly its tax treaty with Singapore). In some places you are tax-liable for world income, no matter where it is accrued and paid out.

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