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Offshore Company for Forex Trading

#22
ahh, now I get it, so securing your privacy like what you wrote above is the way to move forward. It won't require any license if this is just for personal purpose. You could setup this in any country almost. Don't even in Europe this will require a license as long as you don't handle 3rd party funds.
 
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#24
For personal trading and personal use of financial instruments there is no need what so ever for any license, not in the Seychelles nor in most other countries I know of. I do this with a company in Norway, never ever had a problem to trading anything, bitcoin, ETF's, stocks, forex, metal etc.

You can do the same in the seychelles, setup a cheap Wyoming LLC appoint it director in the seychelles company and good is, privacy protected and no one will ever ask you for anything.

Transferwise and Paysera so Kraken may be the options for banking. Check if they accept Seychelles otherwise keep it in the US with a Wyoming, Delaware or New Mexico company which is supported by the EMI's mentioned.
 
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#32
happyjohn said:
For personal trading and personal use of financial instruments there is no need what so ever for any license, not in the Seychelles nor in most other countries I know of. I do this with a company in Norway, never ever had a problem to trading anything, bitcoin, ETF's, stocks, forex, metal etc.

You can do the same in the seychelles, setup a cheap Wyoming LLC appoint it director in the seychelles company and good is, privacy protected and no one will ever ask you for anything.

Transferwise and Paysera so Kraken may be the options for banking. Check if they accept Seychelles otherwise keep it in the US with a Wyoming, Delaware or New Mexico company which is supported by the EMI's mentioned.
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But how any decent broker will open you an account when 1/ there is a US unity and 2/ they now want place of control and utility bills ?
 
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#34
Trayon said:
But how any decent broker will open you an account when 1/ there is a US unity and 2/ they now want place of control and utility bills ?
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I have found that the brokers outside of the US will either reject you straight away or close you down a little after. That has been my experience. Anything US related they just dont want the headache.

You need a set up where your broker is. For example IC Markets is based in Mauritius.
 
#35
I also looked at this option and emailed my preferred brokers to ask what is needed to trade as a company. It was quite a list of documents and proof, including personal documents of all directors in the company, so if the broker doesn't accept US citizens, this might (and also might not) be an issue.

I'm sure different brokers has different rules, just sharing what I found from the two brokers I contacted.
 
#36
It seems all decent brokers now want a utility bill in the name of the company and place of management . Decent means Prime Of Prime - IS Prime, Sucden, AXI Prime, Invast, and so on. But they now offer good conditions for "eligible persons".
 
#37
CaptK said:
I have found that the brokers outside of the US will either reject you straight away or close you down a little after. That has been my experience. Anything US related they just dont want the headache.

You need a set up where your broker is. For example IC Markets is based in Mauritius.
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Tell me about it. Even for people living outside of the US like me some good brokers and a lot of banks in UAE etc don't want to accept me.
Momentum said:
I also looked at this option and emailed my preferred brokers to ask what is needed to trade as a company. It was quite a list of documents and proof, including personal documents of all directors in the company, so if the broker doesn't accept US citizens, this might (and also might not) be an issue.

I'm sure different brokers has different rules, just sharing what I found from the two brokers I contacted.
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Tell me about it. Even for people living outside of the US like me some good brokers and a lot of banks in UAE etc don't want to accept me. IC market Australia finally gave in and opened up an account for me. I think so far IC is the best broker in spreads, commissions I found from all the different brokers. ADS in UAE does not accept US citizens living in UAE. I am thinking after I leave UAE one day I will move to U.K. etc and give up US citizenship. The cost of it is immense.
 
#38
Davis123 said:
Tell me about it. Even for people living outside of the US like me some good brokers and a lot of banks in UAE etc don't want to accept me.

Tell me about it. Even for people living outside of the US like me some good brokers and a lot of banks in UAE etc don't want to accept me. IC market Australia finally gave in and opened up an account for me. I think so far IC is the best broker in spreads, commissions I found from all the different brokers. ADS in UAE does not accept US citizens living in UAE. I am thinking after I leave UAE one day I will move to U.K. etc and give up US citizenship. The cost of it is immense.
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We will have a cold one waiting for you buddy.
 
#39
Reinassance said:
Using a Wyoming or new mexico llc with us bank account to day trade on Nasdaq being a non resident alien, gains are exempt of Us taxes? I only pay capital gain taxes in my EU country, right?
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Why would you use a US LLC as an EU resident?
In general, capital gains are taxed where you are, but there will be US withholding tax on dividends. Also look into US estate tax and if your home country has an estate tax treaty with the US. You might want to talk to an accountant in your home country.
 
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