Set up a corporation in a country that is not considered a tax haven but has a low corporate tax structure - like hong kong. This will not look as dodgy.
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Offshore Accounts for beginners
- Thread starter swissie
- Start date
There is nothing wrong with having an offshore entity in a tax haven, as long as u report appropriately to the US Treasury, as Bob Green said. Cost then becomes an issue, but there is nothing dodgy about it.
Of course you could use an offshore brokerage that takes US citzens but don't be surprised if u don't get ur money back. Caymans, Bermuda, BVI all are domiciles that are easy to deal with.
Of course you could use an offshore brokerage that takes US citzens but don't be surprised if u don't get ur money back. Caymans, Bermuda, BVI all are domiciles that are easy to deal with.
Quote from swissie:
50:1 is not enough for spread betters!
If you can't make money with 50:1 you will not make money with any other leverage. Spread betting loses both ways when it goes wrong. So asking for more leverage because you doing spreads is not justified. 50:1 is more than enough. The regulation is correct and it must be made international to protect idiots from the type of ads like "I invested $40,000 with just $100 down".
People should be aware that foreign consulting companies like this advise primarily on how to form a company that will qualify and operate properly within the law of the foreign jurisdiction where you are forming the company (e.g Switzerland), but do not cover U.S. tax aspects.
This is well and good as far as it goes, but it does not go far enough and may be only the easy part.
For an American, your concern is equally going to be the treatment under U.S. law. These foreign consulting companies do not cover this adequately, if indeed at all.
For example, the U.S. will tax *you* (the U.S. owner of the foreign company) on the foreign income of the foreign company that you control. This is an extremely complex area that requires sophisticated U.S. tax and accounting planning, complex tax returns, elections etc. that the foreign firms do not advise on.
Unless you are prepared to also hire U.S. accountants and lawyers to advise on U.S. tax considerations, I would forget the whole thing. A casual approach is just going to get you in big trouble with the I.R.S.
Bill you're a moron an you don't know what spread betting is. I said it before -most of you on this form are unprofitable day traders who are unemployed and live in someone else's home while playing with Tws all day long.Quote from intradaybill:
If you can't make money with 50:1 you will not make money with any other leverage. Spread betting loses both ways when it goes wrong. So asking for more leverage because you doing spreads is not justified. 50:1 is more than enough. The regulation is correct and it must be made international to protect idiots from the type of ads like "I invested $40,000 with just $100 down".
You don't know what spread trading is like, because you've obviously never known how far it goes. At a 2% daily gain with a small investment, 50:1 levsrsge will take YEARS to make any money.
Go complain about how you don't make money day trading instead of picking on newbes.
Quote from colonial dr:
Bill you're a moron an you don't know what spread betting is. I said it before -most of you on this form are unprofitable day traders who are unemployed and live in someone else's home while playing with Tws all day long.
You don't know what spread trading is like, because you've obviously never known how far it goes. At a 2% daily gain with a small investment, 50:1 levsrsge will take YEARS to make any money.
Go complain about how you don't make money day trading instead of picking on newbes.
lol. do you know how many guys like you we have seen come and go on this site over the years?