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Offshore IBC, LLC, Trust for US Citizens
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Theoretically it should work. Since you personally, the US citizen would not be trading - it would be company incorporated in Belize or where ever. You could then use the company to pay dividends to yourself, and that would be dividend income you earn.
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Originally posted by ESG View PostHello robbiefx,
These links look to me more as a red flag than a helpful resource to get a clear direction how to handle the "ban" of american citizens within forex trading.
I've no idea how to go on with your questions regarding lawful trading in forex or tax implications if you're a resident of the US but I would like to say that even your lawyer might not get the right view on this as it's one of the VERY special questions in this business. I would recommend to ask your legislation directly if these services offered are trustful or not.
I know hat this sounds somehow absurd but you'll get a written answer that you can use in any court questioning in the future if it would be necessary.
Regards,
ESG
PS: There's something into that brokers are refusing US residents more often today.
That being said, I do not intend to not pay my taxes or break the law, I just want to find a reasonable work around to avoid US restrictions on forex trading.
Fatca info: http://www.deloitte.com/assets/dcom-...aqs_061711.pdf
Leave a comment:
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Hello robbiefx,
These links look to me more as a red flag than a helpful resource to get a clear direction how to handle the "ban" of american citizens within forex trading.
I've no idea how to go on with your questions regarding lawful trading in forex or tax implications if you're a resident of the US but I would like to say that even your lawyer might not get the right view on this as it's one of the VERY special questions in this business. I would recommend to ask your legislation directly if these services offered are trustful or not.
I know hat this sounds somehow absurd but you'll get a written answer that you can use in any court questioning in the future if it would be necessary.
Regards,
ESG
PS: There's something into that brokers are refusing US residents more often today.
Originally posted by robbiefx View PostHello everyone,
With the amount of brokers that accept US Clients dwindling, I have been looking into setting up an offshore IBC or LLC with a nominee director so that I can open accounts with other brokers. I have done some research with google searches and reading whatever I can, but nowhere can I find an example of anyone who has done it and what their tax implications were with the IRS and the legality of it all. If anyone here has done this, please post with any information that you have that may be helpful for the rest of us.
I have an appointment with my tax guy in a few months and will be discussing it with him. Any new information that I find I will post here to help anyone else who has been considering going this route.
Here are some links to get started:
http://www.myfxbook.com/community/ge...izens/318003,1
Leave a comment:
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Offshore IBC, LLC, Trust for US Citizens
Hello everyone,
With the amount of brokers that accept US Clients dwindling, I have been looking into setting up an offshore IBC or LLC with a nominee director so that I can open accounts with other brokers. I have done some research with google searches and reading whatever I can, but nowhere can I find an example of anyone who has done it and what their tax implications were with the IRS and the legality of it all. If anyone here has done this, please post with any information that you have that may be helpful for the rest of us.
I have an appointment with my tax guy in a few months and will be discussing it with him. Any new information that I find I will post here to help anyone else who has been considering going this route.
Here are some links to get started:
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