10 Best Countries To Live In as a Day Trader

Day trading jobs have many advantages, one of them is the ability to work from anywhere in the world. The flexibility of this job is considered a positive thing because, besides financial growth that can happen in one or more of the growing stock markets, there are endless possibilities to improve the quality of your private life. 

The 10 best countries to live in as a day trader are:

  1. Switzerland
  2. Singapore
  3. United Kingdom 
  4. Malta
  5. USA
  6. United Arab Emirates
  7. Indonesia
  8. The Cayman Islands
  9. Croatia
  10. Costa Rica

This article will explore why these countries are great places to work and live as a day trader. 

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1. Switzerland

Volatile markets and high quality of life make Switzerland a great country to live in as a day trader.

Even though the cost of housing, food, and clothing is higher than in other European countries, Switzerland’s decentralized structure offers optimal living conditions and lower taxes in almost all parts of the country.

Due to its vocation as a tax haven, Switzerland offers a business-friendly infrastructure with numerous investment opportunities in industries such as banking, pharmaceuticals, and insurance.

According to Investopedia, Switzerland ranks third among countries with the highest financial secrecy, making it one of the largest offshore financial centers in the world.

Switzerland has had to change its financial policies due to international pressure but remains one of the most business-friendly countries to set up your offshore bank account.

2. Singapore

Aside from being a vibrant and beautiful place to live in, day traders in Singapore are not subject to capital gains tax if they use day trading as a second job. The regulations around day trading as the primary job, while strict, are pretty simple. 

Avoidance of Double Taxation Agreements is part of Singapore’s business policies, making the efforts to gain financial stability much easier to tackle and enjoyable. 

The ecosystem of the economy is expanding, which means investment opportunities are easier to come by. According to the World Investment Report for 2020, Singapore ranks third on top countries for foreign direct investment.

3. United Kingdom 

The luxury of being in a time zone where all the major day trading sessions are taking place is an excellent reason to move to the United Kingdom.

Regardless of the turmoil caused by Brexit, the UK is still one of the best countries to invest in as it has very secure regulations and economic stability. 

The United Kingdom taxes foreign income differently. Professional traders have to pay income taxes depending on several factors such as the number of daily exchanges, the number of platforms used, the amount of profit, and the ratio between several profits made by the day trader. 

There’s a significant difference between day traders and share investors. Day traders need to pay income tax and have more expenses in general, while share investors will pay capital gains tax depending on their gains. 

Though shareholders and long-term investors have a little bit more advantage in taxes (fixed tax of 18%), there is no escaping the fact that you are in the center of the action. Therefore, the UK, and London in particular, is an excellent anchor point for day traders.

4. Malta

Malta offers great tax-free opportunities for non-domiciled individuals (i.e., permanently resident outside of the said country). According to the Malta Guides, one of the few things that will need to be covered if you’re self-employed is health insurance, which is from €275 to €1200. 

English is one of the official languages, and investors and business owners are very keen on switching their usual residentials for this Mediterranean gem. 

Affordable living conditions add to the already very well-established economy, so the choice is pretty easy with this one. 

5. USA

The United States of America is the home of the biggest and most important stock exchange markets and companies, making the market very volatile and competitive. 

Being at the source of such a robust market shouldn’t be easily dismissed, even though the living costs could be challenging, especially if you live in New York, the home of the New York Stock Exchange. On the U.S. market, the minimum equity requirement for day trade is USD 25,000, and moving to cheaper parts of the country, such as the Midwest, is a strategy to consider. 

Based on the Hire A Helper research, Idaho is among one of the most popular and affordable states to live in. It’s an excellent choice for many based on the low living costs, job opportunities, and low crime rate. 

The potential of this market is remarkable as the United States is one of the wealthiest nations in the world, which only means that attracting investments is their strong side. 

However, it’s good to remember that US citizens planning to move elsewhere as day traders will have to pay US tax wherever they go, and their worldwide income will be subject to US income tax. 

Utilizing the time zone when all the most important markets are open and active will benefit day traders who want to be more experienced in what they do. 

6. United Arab Emirates 

According to US News, the United Arab Emirates is the fourth best country to invest in. Its developing economy shows how innovation and planning can benefit the residents and people who want to expand their business.

The lucrative market of the UAE is rapidly growing, tourism is blossoming, and the companies are quickly drawn to this haven for a business hub. Business opportunities and scenic views are two valid reasons for relocating to the UAE to live as a day trader. 

7. Indonesia 

Indonesia is a popular tourist destination that had a considerable economic growth of 7.07% YoY in 2021. Tourism is booming, and outlining the strategic plan for investors shows excellent potential for even more significant business growth. 

Renewable energy and agriculture are two more sectors to invest in, and the low living costs and traveling experiences make Indonesia attractive to business owners, investors, and day traders. 

The Indonesian government is continuously making investments easy for foreign investors, which shows that this market will only expand and create new opportunities. 

8. The Cayman Islands

The Cayman Islands are considered a tax-free haven for businesses from all over the world. There’s a tax-free policy and broker-friendly policy that make Cayman Island approachable to day traders and investors. 

Cayman Islands Monetary Authority (CIMA) serves as a safety net for brokers and investors to reduce scams and frauds, making it stress-free for day traders. 

Nature, beaches, and good food are the backbone of the country’s flourishing tourism industry, and the attractiveness of this area will only grow with future investments. 

9. Croatia 

Croatia is a small European country on the Adriatic sea. Due to its great historical heritage and beautiful seaside, it is very interesting for investors and day traders. 

The stock market is pretty small, and therefore there’s not a lot of competition. 

The living costs are lower than in the other European countries, but the standard is growing and becoming much more appealing to the high-earning business individuals. 

Croatia is a relatively safe country, with plenty of natural gems and sights to visit and enjoy. Tourism is growing, and the government’s efforts to raise a standard in each part of the country are not insignificant. As a part of the European Union, Croatia utilizes European funds to level up its business and private sector and make living easier for its residents.

In addition to that, Croatia is a business hub for sectors like the car industry and renewable energy sources, which makes it even more investor and day trader friendly. 

10. Costa Rica

Costa Rica is a popular retirement haven because of its beautiful nature combined with low living costs. Forbes says that one person can live on $1,500 to $1,800 a month, which is a great opportunity for savings. 

Every part of Costa Rica is perfect for living, and there’s a plethora of choices: seaside, forests, or more urbanized areas that can offer relaxing and soothing working conditions. Being tax-friendly to foreign residents makes Costa Rica very appealing to businessmen and entrepreneurs. 

Author’s Recommendations: Top Trading and Investment Resources To Consider

Before concluding this article, I wanted to share few trading and investment resources that I have vetted, with the help of 50+ consistently profitable traders, for you. I am confident that you will greatly benefit in your trading journey by considering one or more of these resources.

Affiliate Disclosure: We participate in several affiliate programs and may be compensated if you make a purchase using our referral link, at no additional cost to you. You can, however, trust the integrity of our recommendation. Affiliate programs exist even for products that we are not recommending. We only choose to recommend you the products that we actually believe in.

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    1. Best Countries to Invest In. (n.d.). U.S. News. https://www.usnews.com/news/best-countries/best-countries-to-invest-in
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    Navdeep Singh

    Navdeep has been an avid trader/investor for the last 10 years and loves to share what he has learned about trading and investments here on TradeVeda. When not managing his personal portfolio or writing for TradeVeda, Navdeep loves to go outdoors on long hikes.

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