offshore vehicles

mgarc · Sep 10, 2003

i would like to find out if there is a legitimate structure out there that could be set-up in order for a trader to minimize if not eliminate taxes altogether. offshore corporations?

would appreciate any advise in this matter. thanks.

marketsurfer · Sep 10, 2003

unfortunately, what you are seeking does not exist--- in a legal/legit sense anyway.

surfer

Runningbear · Sep 10, 2003

You need to look into setting up a fiduciary structure.

Runningbear

mgarc · Sep 14, 2003

thanks for the replies.

runningbear,
could you please elaborate? would setting up a corporation in the cayman islands for instance allow for the tax benefits?

weewilly · Sep 15, 2003

Check out the many posts by user metooxx on this subject. Apparently it is possible. The gist of it is to create an international corporate entity in which you convert trading profits into earned income. Next, you stay out of the US for a long enough period of time to qualify for the foreign-earned income exclusions. In other words, what you basically do is move offshore and trade from there. Your physical presense on US soil prevents you from qualifying for the foreign-earned income exclusion, i.e. you must leave US soil.

Runningbear · Sep 15, 2003

Do a search for "offshore" here on elite trader. There is a lot of information already covered.

Also visit this link

http://www.offshore-protection.com/internationalFiduciaryStructure.html

Runningbear

Hawker · Sep 15, 2003

Quote from marketsurfer:

unfortunately, what you are seeking does not exist--- in a legal/legit sense anyway.

surfer

As far as you get the right advisory from the right people is nothing illegal .The matter is follow the right steps according to laws in this regard.

marketsurfer · Sep 15, 2003

Quote from Hawker:

As far as you get the right advisory from the right people is nothing illegal .The matter is follow the right steps according to laws in this regard.

ahhhh, without giving up your citizenship and leaving USA legally trading tax free is a pipe dream.

Hawker · Sep 15, 2003

Quote from marketsurfer:

ahhhh, without giving up your citizenship and leaving USA legally trading tax free is a pipe dream.

Dear Friend MarketSurfer,

With all respect , why are you assuming that all the traders is this community are US citizens ?

There's people all around the globe flying around here...

However the issue is not taxes evasion or money laundry but tax reduction or advantages. Even inside the US you can create a corp legally in the sates of Delaware or Nevada that gives you tax advantages .

You'll work the way to find a legal structure that can brings you benefits in the management of your assets. That's the deal.

daveb351 · Sep 15, 2003

I spent 2 years researching "tax havens" for a law firm specializing in "asset protection". In my opinion STAY AWAY from any of these plans.

A good website for offshore scams is www.falc.com.

BTW: the best(of the worst) haven was Nevis.