So try some of the many others around here like @Gediminas , @Fred @AlexPCS and so on... there are manyHe stopped replying to my messages in telegram.
Sorry to hear that. Let us know if you can move forward in any wayHe stopped replying to my messages in telegram.
I'm sure I am waiting for your IDHe stopped replying to my messages in telegram.
I was able to confirm that they allow as long as you can pass the CM-Equity AG KYC. I have no idea about how hard would be that.
Wow DomP, excellent news with the US LLC for trading.Thanks for the reply Phantom. That's almost exactly my line of thought so far. Only one correction: you will not pay taxes for capital gains in stocks and derivatives of US stocks, even with a US LLC. These gains are not counted as income coming from US. You will play however the 30% tax withholding from dividends received by US companies. The rules are the same as if you are trading with a personal account as a foreigner.
Hi,Really funny guys -- I thought 'Im the only one' with these specific questions (thats at least the impression I got when I asked different advisors and they looked at me with big open eyes) and saw you in exact same place.
Great to brain-storm together
Basically the trade-off I see for now is the following:
x - US LLC pros:
- No accounting/audit as non US resident
- Stocks: Possibility to open IBKR account
- Possibility to open a bank account
x - US LLC cons:
- Crypto: Cant open Binance/FTX accounts and Binance US/FTX US not an option due to lack of important features
- Stocks: If using US LLC to trade US stocks/options/futures, need to pay US taxes as generated in the US
x - BVI pros:
- no accounting/audits
- Crypto: Possibility to open FTX/Binance accounts (in theory)
- Stocks: IFFF one could open an IBKR account (or with similar broker) profits would be tax free
x - BVI cons:
- Issue opening bank accounts (apart possibly with Signature/Silvergate Bank)
- Stocks: Potentially not be able to open IBKR account
Are the above the trade-offs you'd also see?
I mean 'worst case' I'd open BVI or similar for Crypto and US LLC for Crypto.
Problem here may be that BVI wont be able to open an IBKR account and as such would need an entity which would be able to do that....
In my opinion Seychelles/Belize will nearly be impossible to open bank accounts (specially if Crypto is involved)Hi,
Just wondering if you have compared BVI with other “cheaper” jurisdictions like Seychelles or Belize. Any reason why you prefer BVI over the other two?
Hey Phantom. I am sorry for this late reply. Unfortunately Brazil is undergoing a tax reform and there are many things that we don't know yet, but it seems that in the current proposal citizens will be required to pay taxes of the annual profits of companies located in countries considered "tax havens". Currently I would only pay taxes on the dividends received by this company. I am not sure or not if a Delaware LLC could be considered a tax haven or not.In my opinion Seychelles/Belize will nearly be impossible to open bank accounts (specially if Crypto is involved)
Cayman/BVI pretty easy to open corporate Crypto Bank accounts with the usual suspect crypto banks
In my opinion Seychelles/Belize will nearly be impossible to open bank accounts (specially if Crypto is involved)
Cayman/BVI pretty easy to open corporate Crypto Bank accounts with the usual suspect crypto banks
Thank you for the incfile. What would be the advantage to go with agents like legalzoom and such?What are the usual suspect crypto banks? Silvergate and Signature or can you recommend others?
For the LLCs for stocks trading, you can incorporate with incfile.com for $150 + state fee and get a business account with Bank of America.
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In terms of opening a bank account, would it be better to incorporate in Deleware or BVI? You didn't mention anything about opening a bank in the pros/cons of a US LLC.Really funny guys -- I thought 'Im the only one' with these specific questions (thats at least the impression I got when I asked different advisors and they looked at me with big open eyes) and saw you in exact same place.
Great to brain-storm together
Basically the trade-off I see for now is the following:
x - US LLC pros:
- No accounting/audit as non US resident
- Stocks: Possibility to open IBKR account
- Possibility to open a bank account
x - US LLC cons:
- Crypto: Cant open Binance/FTX accounts and Binance US/FTX US not an option due to lack of important features
- Stocks: If using US LLC to trade US stocks/options/futures, need to pay US taxes as generated in the US
x - BVI pros:
- no accounting/audits
- Crypto: Possibility to open FTX/Binance accounts (in theory)
- Stocks: IFFF one could open an IBKR account (or with similar broker) profits would be tax free
x - BVI cons:
- Issue opening bank accounts (apart possibly with Signature/Silvergate Bank)
- Stocks: Potentially not be able to open IBKR account
Are the above the trade-offs you'd also see?
I mean 'worst case' I'd open BVI or similar for Crypto and US LLC for Crypto.
Problem here may be that BVI wont be able to open an IBKR account and as such would need an entity which would be able to do that....
clearly Delaware US LLC much easier to open bank accountsIn terms of opening a bank account, would it be better to incorporate in Deleware or BVI? You didn't mention anything about opening a bank in the pros/cons of a US LLC.
What about crypto companies? No bank in the US allows bank account opening for crypto companies no matter what location they are incorporated. What would your advice be for a crypto company incorporated in the US that wants to open a bank account.clearly Delaware US LLC much easier to open bank accounts
me personally I wouldnt open a Crypto related trading company in the US as you wont get access to full Binance or FTX etc.What about crypto companies? No bank in the US allows bank account opening for crypto companies no matter what location they are incorporated. What would your advice be for a crypto company incorporated in the US that wants to open a bank account.
me personally I wouldnt open a Crypto related trading company in the US as you wont get access to full Binance or FTX etc.
My setup is BVI for Crypto and US LLC for 'normal markets' trading
Banking with BVI Crypto Co with US based Silvergate/Signature Bank no problem
US Delaware LLC for 'normal trading'
Delaware US LLC because lots of financial companies best to setup LLC vs Wyoming or so as you'd need to declare UBO anyways)
If you have a US Crypto Company, speak with Silvergate/Signature -- however, to my best knowledge with US crypto Company can only use Binance US or FTX US which have very limited options --- plus, eventually you may run into regulation issues going forward