Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Shorting with Offshore Accounts -- Ignore unavailable to you. Want to Upgrade?

To: peter michaelson who wrote (5)	2/8/1999 5:11:00 PM
From: eWhartHog	Read Replies (2) \| Respond to of 127

Hi Peter, Good idea for a thread, but you might have been better to refer to foreign rather than offshore accounts. "Offshore" makes readers think of tax motives rather than the object of escaping SEC over-regulation binding US brokers. I've heard there are message boards dealing with tax issues, but they allow anonymous posting, unlike SI. US citizens may find it difficult to open a personal account in other countries since foreign brokers fear US regulation and litigation. A corporation or trust may be required to solve this problem. In general, corporations are taxable where central control and direction is exercised, and trusts are taxed based on the residence of the trustees. The US doesn't tax capital gains of non-resident aliens where derived from publicly traded securities, with minor exceptions. As far as I know this is also true of other industrial nations. Cheers, John