Consulting service requested. I need your quote

[vought]

Dear forum members,
I'm an EU citizen and sole proprietor of a Wyoming LLC company (I don't have a US passport) and I'm ready to pay for any useful information helping me to get the following offshore company conditions:

1. What I will do:
I will manage forex accounts to investors worldwide. I will NOT provide brokerage services. Investors will select the broker they prefer and I will manage his/her account by copying my personal strategy into their accounts. Income will be based on a percentage of their profit. NO CRYPTO payments will be involved. All payments will be in USD or EUR only. Crypto can be traded, though.

2. What I need:
a) Offshore jurisdiction with minimal or no financial trading license required.
b) Remote creation only. I will not travel anywhere unless it is less then 100 km away from home.
c) Jurisdiction compatible with Wise.com preferibly.
d) No local representatives/office preferibly.
e) I don't care paying taxes. I DO NOT need a tax free jurisdiction.
f) NO EU jurisdiction should be considered.
g) I don't care using my personal EU passport or my US EIN number. Whichever is better to get what I want is good to me.

If you are interested, please send me a private message. I don't visit the forums on a daily basis so please be patient if I don't reply as quick as you'd like.

 

[JohnnyDoe]

Start looking for a good criminal lawyer

 

[nasdaqtradfiguy]

At the very least, you'd need to be approved by all the regulators of the jurisdictions you're "touching" by virtue of "managing" any of your clients money.

What kind of % return have you achieved? How long is your track record?

What kind of money have you been managing, and with what products/platforms?

 

[AlicaFunk]

Open Belize company and try getting a EMI to accept you. You already must got the point, it is illegal what you want to setup. Be prepared for lot of trouble.

 

[jafo]

it is illegal what you want to setup. Be prepared for lot of trouble.

Especially, if he is broadcasting it to the whole world. He's low-hanging fruit for the unproductive "gang members" with badges.

PS. I have several "acquaintances" who have been doing this for decades but they do NOT advertise, broadcast their services, or confide in strangers

 

[JohnnyDoe]

CPO and CTA Exemptions and Exclusions

CPO and CTA Exemptions and Exclusions

www.cftc.gov

 

[vought]

Especially, if he is broadcasting it to the whole world. He's low-hanging fruit for the unproductive "gang members" with badges.

PS. I have several "acquaintances" who have been doing this for decades but they do NOT advertise, broadcast their services, or confide in strangers

Probably this is the best suggestion. Thanks for sharing.

 

[nasdaqtradfiguy]

@vought
How does your track record look like?

 

[vought]

@vought
How does your track record look like?

I can provide my record links, but I'm scared my account here will be striked. I will try to send you a PM.

Edit. I see I don't have permission to send Pm to any user. So you can go to standard fxblue pages and search for users 'bothnic' and 'bothnic2'. Sadly I had to change the account from the former to the latter because of the stupid brexit rules.

 

[pomegranate]

I will manage forex accounts to investors worldwide.

BTW this is called a regulated activity in any half-decent jurisdiction.

 

[jkl197]

you could reduce the risk by using some decent offshore broker offering copy trading tools (social trading, pamm, or similar) and ideally your clients should be non-eu clients, and especially non-uk clients.

However, as the others told you, it is crucial that you dont advertise your services and make it appear as the clients decided to copy your strategy on their own initiative. Also, you should receive the payments of your performance fees from the broker, not from the final clients copying your strategy.
And yet, you would still be walking on a legal minefield, especially if your figures are big.

Now, if your trading strategy is actually good as you convey, then why not to invest some money for building your own hedge fund or certificate or sicav or similar structure?
There are different solutions in different countries, e.g. Luxembourg, Switzerland, Malta, Bahamas, Cayman

 

[GPT]

Now, if your trading strategy is actually good as you convey, then why not to invest some money for building your own hedge fund or certificate or sicav or similar structure?
There are different solutions in different countries, e.g. Luxembourg, Switzerland, Malta, Bahamas, Cayman

This is the only decent way for making things work. However do prepare yourself for a s**t ton of compliance and permits. Its not impossible but also not easy. You need to be in it for the long run.

 

[vought]

you could reduce the risk by using some decent offshore broker offering copy trading tools (social trading, pamm, or similar) and ideally your clients should be non-eu clients, and especially non-uk clients.

However, as the others told you, it is crucial that you dont advertise your services and make it appear as the clients decided to copy your strategy on their own initiative. Also, you should receive the payments of your performance fees from the broker, not from the final clients copying your strategy.
And yet, you would still be walking on a legal minefield, especially if your figures are big.

Now, if your trading strategy is actually good as you convey, then why not to invest some money for building your own hedge fund or certificate or sicav or similar structure?
There are different solutions in different countries, e.g. Luxembourg, Switzerland, Malta, Bahamas, Cayman

Thank you for the reply. That was my first idea, but the initial price to do that is simply ridiculous. You need to pay safety deposits, guarantee deposits, insurance fees and many more. All in all, the minimum initial investments for that is never below 600.000 €. I don't have that money.

 

[GPT]

Thank you for the reply. That was my first idea, but the initial price to do that is simply ridiculous. You need to pay safety deposits, guarantee deposits, insurance fees and many more. All in all, the minimum initial investments for that is never below 600.000 €. I don't have that money.

Then consider, also given several other replies, your idea not really being viable right now.

If you want to go down the legal road, establish a track record first. 5 years is the bare minimum. Use those years to build up the capital, licenses and resources needed before launching anything.

 

[jkl197]

What you need is a critical mass of AUM to get started, ideally a minimum of 3m on which you will charge a 2% management fee, that will make you 60k which is just enough to cover the cost of a sub-fund in Cayman or Bahamas, and maybe even Malta; the Administrators of the umbrella fund will take care of all the boring parts, you focus on the trading strategy.
There could be other solutions, e.g. through structuring a certificate, possibly cheaper to get started. Or look into a SICAV. Each solution naturally comes with pros and cons to be evaluated.
A long certified track record of your strategy is a must before you approach any solution provider.
Getting your ISIN and professionally tracked NAV is a great step up.

 

[I'mRobot]

Getting your ISIN and professionally tracked NAV is a great step up.

here you lost me, what does it mean?

 

[JohnnyDoe]

here you lost me, what does it mean?

ISIN, Bloomberg code and valoren are the minimum requirements for a fund to be properly identified.
The NAV must be tracked by a licensed firm, you can’t do it yourself.

I think that 30k might be sufficient for operating a bvi sub fund under an umbrella one. You can check with Sam Bratchie at IFINA.

 

[jkl197]

one of the tasks of the fund administrator is to calculate the NAV of the fund (usally on a daily basis), at the end of the year all figures should be audited by some professional auditor
about the isin:
ISIN: What It Is, How and Why It Is Used

 

[I'mRobot]

ISIN, Bloomberg code and valoren are the minimum requirements for a fund to be properly identified.
The NAV must be tracked by a licensed firm, you can’t do it yourself.

I think that 30k might be sufficient for operating a bvi sub fund under an umbrella one. You can check with Sam Bratchie at IFINA.

okay, thank you for clarify, that was helpful.

 

[JohnnyDoe]

one of the tasks of the fund administrator is to calculate the NAV of the fund (usally on a daily basis),

A monthly nav is fine and the most common practice.