Quote from gangof4:
i see guys like you making these posts where you act as if you're projecting actual personal experience when all you've done is read what someone like you wrote. i challenge you to open your offshore llc and have that company open an account with interactive brokers for you to trade. every broker wants to see the corp. docs showing ownership of said corp along with your picture id- ie: passport. iow, this fantasy offshore corp will be as tied to you and your SS# just as it would have been if you'd just opened it in your name. the only way this 'works' is if you commit a felony and use other people's info (in which case, along with the legal issues you've created, you better trust that this person who has your $ in their name is REALLY trustworthy!), or put a shell inside of a shell company- which amounts to the same as above.
if you attempt to disagree with me on this- don't forget to give an example of the structure that would be able to open an acct with IB without divulging your name and info. i use ib in my example because yes, you could maybe open an acct with some piss ant broker in Panama that is basically a laundromat for drug money vs someplace a TRADER would actually trade thru.
lol. yeah, cracking 6 figures makes it worth it (rolls eyes). try 7+
Wow...You sure are combative. try calming down a bit. I told a firend of mine the other day that I thought the main problem in the US is that people are so conflictual. You seem to be a perfect example of that.
Here are your answers.
1. Guys like me? what guys would those be? Yes, I am acting from personal experince as well make an income to refering people to a foreign introducing broker who opens accounts with the exact company you mentioned, IB. I have opened about 10 such accounts and have one myself. Some for US, some for canadian, some for other nationalities. I personally have an IB account using a non-US corporation. .
2. You are assuming that People are trying to do something illegal..nothing illegal about it. US citizens can own and/or be offices of foregin companies, especially if they live overseas. Those foreign companies can open bank and brokerage accounts..what is wrong with that?
3. Right, you have to fax or scan in the documents as well as supply 2 valid ids For each of the officers. They dont care if a US citizen owns it...again, it is perfectly legal. You need to also show proof of foreign residence. All they need to know is who has the money, who has control of the company, and that they can do a background check on that person.
4. The structures that we us are S.A. Sociedad Anomimas...your country of residence will dictate the country you choose.
5. Outside of the US people use corporations for EVERYTHING. We have a car in one, a house in one. etc. It is manily for liability purposes but very common. When I was head of Sales and trading for Scoita Securities here (yeah THAT is the kind of guy i am) we had far more accounts in companies than indvidual names.
6. You will see on the IB intro page that they have corporate accounts in multiple foreign languages. Whom do you suppose that is for?
7. Now, If you live in the US..dont try to hide money in a foreign corporation (i think this is where you jumped the gun and got all riled up) THAT is illegal. I live overseas, have a foreign address and the thread IS entitled "AMERICANS LIVING ABROAD"
8. On of the disadvantages to doing this through IB or anyone else is that by using a corporation, you are assumed to be a pro, therefore you have to pay entitlement fees on all of the markets that you use. You cant get the "bundled US" options where entitlements are free like for individuals.
9. Some company structures are explensive...say $3k a year. If you make over $100k, then the cost/benefit to this would be much greater than someone making $50k
Now, I am not going to take offence to your filth banter. But I would ask you to cool your jets and ask questions in a more
civilized tone next time.
saludos and trade well.
