You have to check whether your host country (Croatia) has a TAX TREATY with the US. IF NOT, your 'non-resident - non-citizen' account will be taxed in the US as if you resided in the US.Quote from protrader-2K5:
so if i trade in croatia i pay no cap gains on american stock market gains?
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depends... if your a US citizen you have to renounce your citizenship... then become a Croatian citizen and then you can trade US securities... but not US tax.
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The US is the only nation... to my knowledge that requires you to pay income tax on money NOT EARNED in the US. There are some, very little exceptions.
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Fishbird... you think you have it bad...
Try being in a 30% range over all for FEDERAL
8% for state
2% for local
and then ANOTHER 8% for Sales tax!
so you see where we get the money to go fight 15 wars all at once!
Living on a boat and avoiding taxes
- Thread starter Fishbird
- Start date
Found on the net...
Croatia is an attractive partner for foreign investments. The framework for U.S. business investments is in place: Most Favored Nation and GSP status, a Bilateral Investment Treaty that was signed in 1996, and treaties on the avoidance of double taxation and protection of intellectual property rights are currently being negotiated.
not true.....while the brokers share no information with european countries the irs does(for ex. germany..and many more).
if you trade from germany with a us broker and think you can avoid taxes.. ..no chance. would be very stupid not to pay. maybe you are lucky and do not get caught because the european tax authorities do not have enough personal to evaluate all the information they get from the us irs.
regards
If you make yourself a director of the IBC it doesn't work. You still have to provide the names and IDs of all company directors to open the brokerage account. And without the brokerage account you can't trade.
If the broker has your name and that broker is in a country that has a tax treaty with the country you reside in, it is very easy to link you to the IBC. And if you haven't revealed the fact that you have an IBC on your tax return, you're in serious SH%T.
You need nominee directors to be at arms length. There is no other way around it.
Runningbear
:eek:
be careful of the advise you recieve... for example in this piece, the US IRS will light you on fire. As soon as they see you tapping that money through a credit card (which is heavily) monitored... and if you did not claim that money in your Tax Returns... ceste' la vie!
The only way to bring back money into the US is through CASH stuffed in a suitcase or as one of my jeweler buddy has done... through precious stones. Diamonds are alot easier to transfer... and not looked for. But you have to get a buyer in the US to 'cash out'
As is aid already before:
An easy solution should be to open a bank warrant with a respectable bank to guarantee your obligations.
If you do enough transactions and the bank warrant is big enough , they will accept. It would become a commercial deal.
If you open an IBC, you sign that all the risks are at your personal name and that you will pay back all the fines and expenses the nominee directors have to make in case of trouble.
And some people might call the US the country of freedom...