Welcome back dear loyal readers of Money Beng, we are happy and satisfied as always to have you here with us and more numerous. In today’s article, we will talk about online trading and taxation, more precisely, we will analyze the Canarian trading taxation.
We’ll go together to see how it works, how much you pay and if it’s convenient.
Trading in the Canary Islands, what does it mean?
We know very well that all those who start using online trading platforms, once they start having some income, would like to avoid paying taxes or at least try to pay as little as possible.
A solution to this inconvenience could apparently exist.
In fact, it is necessary to focus on brokers who are authorized to work in that specific territory.
Surely the Canaries are part of this list of territories.
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Canary trading taxation
As mentioned above, to trade online in the Canary Islands, you need to contact a broker who is legally recognized.
Let’s start by saying that trading in the Canary Islands is absolutely legal.
But it is necessary to choose the trading platform carefully, given that the latter must have all the requirements and permits granted by the competent authorities.
For example, to operate on the Italian territory, you need regulation by a regulatory body, which is recognized throughout Europe, the CySEC, as well as registration in the Consob register.
National Commission of the Securities Market
As such, in the Canary Islands however, the authorization of the CNMV (National Commission of the Market of Values) will suffice.
Therefore, if you want to check that the broker you want to entrust your money to has authorization from the CNMV, you will have to sift through all the registers of regular financial intermediaries in the area of interest.
Once you have verified that the professional in question is present in these lists, you will have the certainty that he has the authorization to operate in the area, and that you will be able to trade safely, through the trading platform in the Canary Islands.
Canary Islands taxation, how does it work?
We must also consider that taxation in the Canary Islands allows for several advantages in terms of taxation.
For this reason, many companies, businesses and individuals flock both from Europe and from the rest of the world, effectively making this territory, where the sun always shines, a real tax haven.
👉 Must read: Investing in the Canary Islands | How Convenient and How to Invest
Advantages of Canary trading taxation
Consequently, precisely this taxation allows those who earn by Trading Forex online, to:
- Moving its registered office to its sunny beaches
- Benefit from a much lower tax rate than in the state of origin
Given the changing fiscal policies in the European territory and the economic crisis of recent periods, the thought of earning money working from home with online Forex trading is increasingly making its way among people.
For this reason, doing these operations with platforms that can operate in the Canary Islands certainly offers many objective advantages that are compatible with the international market.
Finally, for those wishing to transfer their residence to the Canary Islands, they could take advantage of a fixed income tax of 24%, undoubtedly cheaper than in Italy.
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Well dear friends of Money Beng, you have seen that Canary trading taxation is certainly very convenient, the important thing is to rely on online trading platforms, recognized by the entities of that territory.
Money Beng, The Editorial Team
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