I'm trying to gather as much information as I can regarding an offshore trading corporation for forex, crypto, stock, etc. A couple things stood out.
There's some confusion over residency vs passports.
But from what I gather of the laws, aside from the obvious reality that getting an offshore or foreign bank account as a us citizen is profoundly hard, it may not even be feasible to access global exchanges as a non expatriated us citizen.
It may only be possible with a passport belonging to a local manager agent's passport, someone who exists in a residency with a real office and number secretary etc so forth, much like how Binance does it, bitmex, also tho normal corps like I imagine starbucks. Many countries demand regional economic activity/cash flow, person who owns the company needs to be there.
I guess you would need to appoint a manager agent with power of attourney, your lawyer I presume, or some service provider, if you don't have actual business partners in the residing country, and then you need a ghost office there and some sort of business in the country.
I lean towards making an actual business. I think I will have to live in one of these countries to pursue naturalization, so I could have a real office and some side business.
But I'm not sure I could get away with a bank account being in my name either. In which case I would have to be the nominee of signator over the bank.
For european and american exchanges an ellgible contract particpant can work around these if they have 5 million dollars, or in some cases I think its 10 million. Pretty unhelpful. So I'm leaning towards asian brokers and markets. But some crypto exchanges don't demand kyc or ECP. But for tax and complience purposes or if the exchange demands kyc, I want it to all be legal.
There's some confusion over residency vs passports.
But from what I gather of the laws, aside from the obvious reality that getting an offshore or foreign bank account as a us citizen is profoundly hard, it may not even be feasible to access global exchanges as a non expatriated us citizen.
It may only be possible with a passport belonging to a local manager agent's passport, someone who exists in a residency with a real office and number secretary etc so forth, much like how Binance does it, bitmex, also tho normal corps like I imagine starbucks. Many countries demand regional economic activity/cash flow, person who owns the company needs to be there.
I guess you would need to appoint a manager agent with power of attourney, your lawyer I presume, or some service provider, if you don't have actual business partners in the residing country, and then you need a ghost office there and some sort of business in the country.
I lean towards making an actual business. I think I will have to live in one of these countries to pursue naturalization, so I could have a real office and some side business.
But I'm not sure I could get away with a bank account being in my name either. In which case I would have to be the nominee of signator over the bank.
For european and american exchanges an ellgible contract particpant can work around these if they have 5 million dollars, or in some cases I think its 10 million. Pretty unhelpful. So I'm leaning towards asian brokers and markets. But some crypto exchanges don't demand kyc or ECP. But for tax and complience purposes or if the exchange demands kyc, I want it to all be legal.
