IB: "...terminate our relationship with you..."
- Thread starter FutureScalper
- Start date
Not my experience in almost 10 years using IB. Different banks, different currencies, different continents
Also my experience for 10+ years. I am talking about AFTER they place restrictions on your account.
We are being held to a standard of proof that did not exist at the time.
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Well, I think we should start a List!
That way, when we set up a foreign personal account, or a foreign corporate account, or assign Nominee Directors, we don't find ourselves in a situation of being forced to supply extra "documentation", or with an undesirable entity/director. This is just for IB (but probably applies to ALL major brokers).
•Panama: Forget about it for at least a couple of years (EU "Black List"). Man, I loved the Panamanian Private Interest Foundation, your crazy ex, gone! Your heroin addicted offspring wanting half their share, through old school forced heirship laws, gone!
https://en.m.wikipedia.org/wiki/Forced_heirship
•British Virgin Islands: Corporate: ALL GOOD!
•Peru: Personal/Corporate: ALL GOOD!
Feel free to add your jurisdiction, and build up the list.
Just concerned, and asking for a friend...
That way, when we set up a foreign personal account, or a foreign corporate account, or assign Nominee Directors, we don't find ourselves in a situation of being forced to supply extra "documentation", or with an undesirable entity/director. This is just for IB (but probably applies to ALL major brokers).
•Panama: Forget about it for at least a couple of years (EU "Black List"). Man, I loved the Panamanian Private Interest Foundation, your crazy ex, gone! Your heroin addicted offspring wanting half their share, through old school forced heirship laws, gone!
https://en.m.wikipedia.org/wiki/Forced_heirship
•British Virgin Islands: Corporate: ALL GOOD!
•Peru: Personal/Corporate: ALL GOOD!
Feel free to add your jurisdiction, and build up the list.
Just concerned, and asking for a friend...
Funnily enough I asked IB about any blacklist they have and he only mentioned NKorea/Iran. So I supposed individuals in Panama might be okay but corporate entities owned by non-residents are not.
I like the list, the problem is the Caribbean countries are added and removed every few years from a number of blacklists, greylists, bluelists, whatever.
The person responding to you has NO clue. The "black list" ban encompasses:
•Panamanian individuals.
•Panama-based bank accounts.
•Any type of Panamanian entity.
Exactly, they're are removed and added, but North Korea/Iran are there for LIFE...
The whole concept of the "Black List" is simply extortion of these smaller countries. And of course, bringing fresh offshore business to the BIGGEST tax haven in the entire world: The United States of America!
Solid film, with an incredible cast:
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Thanks for the link, didn´t know the movie and just watched it.
Too many leaks and international rules like CRS and Fatca over the last few years, I don´t see much good in compliance departments going over the fence worldwide, I´m not much involved anymore nor following closely but the word looks like a much more difficult place to navigate for the small international entrepreneur, and it got much worse this year with covid.
True. The real dirty money is flowing to Nevada.