Which Offshore Jurisdiction?

Low Salubrity Thug said:
Last time I looked both Delaware and Nevada have quite a few ties with the US.



What makes you think there is anything illegal in what I want to do?
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lol the replies, jfc.

BVI should suit you well. Thanks for the thread and the input, silent eyes have been appreciative of it all.
 
Low Salubrity Thug said:
Last time I looked both Delaware and Nevada have quite a few ties with the US.



What makes you think there is anything illegal in what I want to do?
More...
What's the problem with US ties? I actually know first hand that Delaware was a very convenient setup for something similar. And I didn't say I thought you were wanting to do anything illegal. Thanks for mocking people trying to chip in.
 
Low Salubrity Thug said:
Yeah, Singapore ticks a few boxes for incorporation (e.g. legal system based on English Common Law) but there are several reasons why I discounted it. The main ones being:

  • Two directors are required (one of whom must be a Singapore resident);
  • A local qualified company secretary is required;
  • Accounts must be filed (audited by a resident, qualified Singapore auditor);
  • A general meeting must be held annually.
Way too much hassle and expense for what I'm trying to achieve. I just want a simple, low maintenance structure which allows me to accrue gains tax free. I'm not looking to undertake international trade or anything lofty using this vehicle.

The BVI seems the best bet. My concern (and the reason I posted here) is that a BVC IBC might be seen as shady by some in the US. I don't want it to lead to any problems in my dealings with brokers, FCMs and exchanges.
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wow, I didn't realize that international banking has changed so drastically just in the past few years, but I think I understand why and have listed below. I think your BVI research is very well rounded and you have found a winner.

I am getting ready to do the same thing but for different reasons. I have been trading a very long time and have not ever seen anything near what is going on especially in the US markets. I take some pride in doing investment research, due diligence, deep earnings and balance sheet research (I am mostly macro). And every trade I have looked at since last June has looked very very bearish, but yet every one of them has moved higher and higher (this not even considering the WTI crude market). So, I have come to the conclusion that the Fed is long out of bullets (they really should be in a third round of hiking by now which is opposite of what they would like to do) and I believe there is an extremely high level of derision and disagreement among the Fed voting members (and non voting).

Gold charts tell me they have gotten desperate for time and are very probably printing USD in large number and buying both heavily weighted S&P 500 US equities and oil contracts (maybe close to a trillion in printing already). If they are that desperate and the market still goes through a deep repricing/price discovery process (bear market) then I feel the next step will be a combination of negative interest rates/strict market controls/capital controls to which it will be very very difficult for regular individuals to move money, access large amounts of funds, liquidate long buy and hold positions, invest in physical gold etc... This in the US and looking at DB chart I think also in the EU and probably in Japan (all of above controls already exist in China).

So I am looking at the same move off-shore you are looking at. But, regarding my own needs Singapore and/or Hong Kong may be worth the hassle and I am also looking at BVI, Dubai and Bermuda.

ie, when I say market controls, capital controls I am speaking of very similar things in place in China: (no shorting ever and at different times no selling of equities, very difficult to move money overseas, very difficult to change money, strict market intervention into things like real estate transactions, bank loans, strict Forex controls and then also, similar things which took place in Cyprus:bank account hair cuts, banking bail-ins, bank holidays etc...

I, in no way, shape or form, am willing to be responsible for the horrid management and financial history of US banks so I am being proactive.
 
@the OP: Have you considered a opening up a HK based brokerage account and/or a HK personal account? I'm sure you are aware there is no cap gains tax in HK. I've come up with the same research you have re: HK corp accounts, and it is not for me at this point, but an HK personal account shouldn't be an issue. You are UK based, open an account with HSBC, then open up the HSBC HK account. You will have to make a trip to HK for the paperwork, but if you are looking at incorporating offshore, it is a moot point.
 
Pricechange said:
wow, I didn't realize that international banking has changed so drastically just in the past few years, but I think I understand why and have listed below. I think your BVI research is very well rounded and you have found a winner.

I am getting ready to do the same thing but for different reasons. I have been trading a very long time and have not ever seen anything near what is going on especially in the US markets. I take some pride in doing investment research, due diligence, deep earnings and balance sheet research (I am mostly macro). And every trade I have looked at since last June has looked very very bearish, but yet every one of them has moved higher and higher (this not even considering the WTI crude market). So, I have come to the conclusion that the Fed is long out of bullets (they really should be in a third round of hiking by now which is opposite of what they would like to do) and I believe there is an extremely high level of derision and disagreement among the Fed voting members (and non voting).

Gold charts tell me they have gotten desperate for time and are very probably printing USD in large number and buying both heavily weighted S&P 500 US equities and oil contracts (maybe close to a trillion in printing already). If they are that desperate and the market still goes through a deep repricing/price discovery process (bear market) then I feel the next step will be a combination of negative interest rates/strict market controls/capital controls to which it will be very very difficult for regular individuals to move money, access large amounts of funds, liquidate long buy and hold positions, invest in physical gold etc... This in the US and looking at DB chart I think also in the EU and probably in Japan (all of above controls already exist in China).

So I am looking at the same move off-shore you are looking at. But, regarding my own needs Singapore and/or Hong Kong may be worth the hassle and I am also looking at BVI, Dubai and Bermuda.

ie, when I say market controls, capital controls I am speaking of very similar things in place in China: (no shorting ever and at different times no selling of equities, very difficult to move money overseas, very difficult to change money, strict market intervention into things like real estate transactions, bank loans, strict Forex controls and then also, similar things which took place in Cyprus:bank account hair cuts, banking bail-ins, bank holidays etc...

I, in no way, shape or form, am willing to be responsible for the horrid management and financial history of US banks so I am being proactive.
More...
If you're a U.S. citizen then pretty much none of the very good advice from this thread applies to you. Ditto if you're moving your money offshore due to some collapse of the US govt investment thesis.
 
Pricechange said:
wow, I didn't realize that international banking has changed so drastically just in the past few years, but I think I understand why and have listed below. I think your BVI research is very well rounded and you have found a winner.

I am getting ready to do the same thing but for different reasons. I have been trading a very long time and have not ever seen anything near what is going on especially in the US markets. I take some pride in doing investment research, due diligence, deep earnings and balance sheet research (I am mostly macro). And every trade I have looked at since last June has looked very very bearish, but yet every one of them has moved higher and higher (this not even considering the WTI crude market). So, I have come to the conclusion that the Fed is long out of bullets (they really should be in a third round of hiking by now which is opposite of what they would like to do) and I believe there is an extremely high level of derision and disagreement among the Fed voting members (and non voting).

Gold charts tell me they have gotten desperate for time and are very probably printing USD in large number and buying both heavily weighted S&P 500 US equities and oil contracts (maybe close to a trillion in printing already). If they are that desperate and the market still goes through a deep repricing/price discovery process (bear market) then I feel the next step will be a combination of negative interest rates/strict market controls/capital controls to which it will be very very difficult for regular individuals to move money, access large amounts of funds, liquidate long buy and hold positions, invest in physical gold etc... This in the US and looking at DB chart I think also in the EU and probably in Japan (all of above controls already exist in China).

So I am looking at the same move off-shore you are looking at. But, regarding my own needs Singapore and/or Hong Kong may be worth the hassle and I am also looking at BVI, Dubai and Bermuda.

ie, when I say market controls, capital controls I am speaking of very similar things in place in China: (no shorting ever and at different times no selling of equities, very difficult to move money overseas, very difficult to change money, strict market intervention into things like real estate transactions, bank loans, strict Forex controls and then also, similar things which took place in Cyprus:bank account hair cuts, banking bail-ins, bank holidays etc...

I, in no way, shape or form, am willing to be responsible for the horrid management and financial history of US banks so I am being proactive.
More...


We appear to have fairly similar views on the medium-term macro situation. Whilst I don't think it's by any means a certainty, I do believe there is a risk of an economic implosion along the lines you suggest. And it's a risk that I believe is significant enough to warrant hedging against (hence the desire to distance myself from the toxic Western banking system).

The banking sector is in far worse shape now that it was in 2007 and I believe a failure this time would be systemic. In that eventuality, like yourself, I can foresee strict controls being applied to the movement of capital.
 
jj90 said:
@the OP: Have you considered a opening up a HK based brokerage account and/or a HK personal account? I'm sure you are aware there is no cap gains tax in HK. I've come up with the same research you have re: HK corp accounts, and it is not for me at this point, but an HK personal account shouldn't be an issue. You are UK based, open an account with HSBC, then open up the HSBC HK account. You will have to make a trip to HK for the paperwork, but if you are looking at incorporating offshore, it is a moot point.
More...

There's not much point having a HK brokerage account/personal bank account as they wouldn't provide me with any tax advantages under the current UK tax regime. The benefits really come from operating through a corporate entity.
 
First rule: Always use small law firms as big ones are always in the picture. And when they get hacked...
Nobody will hack small law firms. Stay low profile. Or find a legal but low tax country.
I pay low taxes, but everything is legal, so no worries.
 
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