Sole Trader moving country

I have been lucky enough over the last two years to have made a substantial amount of money betting on a market within the soccer market.

I am in my late 20s and am now thinking about where to settle down. Considering the ridiculous amount of tax levied on self employed people in this country (the equivalent of 55% on the amount above €100,000) I am thinking about emigrating.

My plan over the next two years is to set up a tipster service as my betting limits in over 50 bookmakers have been limited so the combination of tipping shorts periods before the match starts will supplement my income (the universal question asked is why would you tip if you are a winning gambler). My main target market would be Ireland and GB.

I have a finance masters and am active in the markets but I want to also branch out into venture capital for small startups.

Thirdly I am looking to purchase a house but I am not sure my future is in Ireland. I have a dual citizenship with America.

I would like to live abroad for a couple of years while working on my business aspirations. Ideally if things continue to go well the tax implications will be a major issue.


Ideally I would like to remain in western Europe however I am not bilingual. Sydney also holds some appeal.

What countries could be a better fit than Ireland?

Europe is the highest personal tax region in the world, Latin America is the lowest. Aside from countries where taxation is unknown, Bulgaria boasts the lowest rate within the EU. A flat tax of 10% was recently introduced to replace the previous 24% rate. In the Asia-Pacific region, Hong Kong's 16% is the lowest tax rate, while Paraguay is at the bottom in Latin America with its 10% rate.

I would get professional advice as even if you are non resident, you can still be taxed on Irish source income. The savings from such advice should far outweigh the cost.

What market it did you bet on may I ask?