How to set up an offshore account?

[traderzhangSan]

say I have 500K $ account and I want to set up a company in offshore place such as British virgin island. Can I then use the company to open trading account ? how does that work?

I am aking this for a wealthy friend.

any idea?

Thanks

 

[belekas]

Everything is possible when you know the right people.

Regards.

 

[moarla]

Quote from traderzhangSan:

say I have 500K $ account and I want to set up a company in offshore place such as British virgin island. Can I then use the company to open trading account ? how does that work?

I am aking this for a wealthy friend.

any idea?

Thanks

first you need to say if your friend is a US citizen...

 

[Xspurt]

1. Set up LLC
2. Open bank account
3. Open broker account as LLC

???

1.http://www.ocra.com/?gclid=CNzav9CwkKICFQldagodT3vJbw
2. Ditto http://www.ocra.com/pi/piregister.asp
3. http://www.interactivebrokers.com.hk/en/pagemap/pagemap_account_indiv.php

PS: UBS might be a problem

 

[moarla]

Quote from Xspurt:

1. Set up LLC
2. Open bank account
3. Open broker account as LLC

???

1.http://www.ocra.com/?gclid=CNzav9CwkKICFQldagodT3vJbw
2. Ditto http://www.ocra.com/pi/piregister.asp
3. http://www.interactivebrokers.com.hk/en/pagemap/pagemap_account_indiv.php

PS: UBS might be a problem

well, ib needs to know who are the members of the LLC ))

offshore is not that easy, espescialy for US citizens

 

[freehouse]

Quote from Xspurt:

1. Set up LLC
2. Open bank account
3. Open broker account as LLC

???

1.http://www.ocra.com/?gclid=CNzav9CwkKICFQldagodT3vJbw
2. Ditto http://www.ocra.com/pi/piregister.asp
3. http://www.interactivebrokers.com.hk/en/pagemap/pagemap_account_indiv.php

PS: UBS might be a problem

Not all countries have the LLC entity........

 

[Bob111]

Quote from freehouse:

Not all countries have the LLC entity........

but the order is the same. setup is pretty simple.consequences (if you are US citizen\resident)are not

 

[risktaker]

No problem. Best method really depends on WHERE your friend lives & WHERE he/she intends to do business & which country he/she's citizen of.


LLC's for trading??? Pfffft...

Quote from traderzhangSan:

say I have 500K $ account and I want to set up a company in offshore place such as British virgin island. Can I then use the company to open trading account ? how does that work?

I am aking this for a wealthy friend.

any idea?

Thanks