Shorting with Offshore Accounts Message Board

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Non-Tech : Shorting with Offshore Accounts

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To: Mark L. who wrote (8)	2/9/1999 8:22:00 AM
From: The Street	Read Replies (2) of 127

An American must pay taxes REGARDLESS of ANYTHING. An offshore corp. can be set up for less than $2,000. Then that corp. opens a brokerage account. The cost of maintaining that is around $200 a year. (I believe you are talking about Trusts that have the Trustee/Trustor relationship and can be quite expensive and BE VERY UNSAFE for your money. Those Trustee's can literally disappear with your money and it happens all the time. Those can be structured so no taxes are paid but you will be audited and harrassed YEARLY by the IRS.) If you simply want an offshore account for privacy and to trade w/o SEC reg's then it is quite simple to do. Belize is probably the best place to do it-- you can structure your corp. to be a bank. Costa Rica is just corp. only. Panama is getting better. IMPORTANT: MOST host countries to NOT tax unless the income producing assets are located IN that particular country. So, trading stocks would be taxable ONLY by the US.

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