New CFTC Rules

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alelualdi
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Postby alelualdi » Sat Oct 30, 2010 4:22 am


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ZEN
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Re: New CFTC Rules

Postby ZEN » Thu Nov 25, 2010 6:58 am

newark18 wrote:I am trying to figure out some reasonable and low cost solutions to the new CFTC rules against a US person using a foreign broker. As you probably already know, no US brokers permit hedging. And this combination is causing me to look for ways to establish an entity and bank account in the foreign country of my future broker. Now, this is not an easy project. If anyone has any thoughts on this, I would love to start a discussion. Currently, I am considering UK and BVI. But I am open to any foreign country with a respectable foreign broker.


The new CFTC comunist and dictatorial rules will slowly but surely kill the retail forex market in USA.

To escape from this abusive rules, one may establish an off-shore company in an off-shore location and then, as the owner of this off-shore company you may trade with any broker you want. Even if you are an USA citizen the off-shore company is not and therefore will not obey to any USA laws. An off-shore company is not expensive. There in the USA are many law firms wich are specialized in off-shore companies and they allready have a few company registered, and this companies are so called ready-made off-shore company. To operate this ready-made off-shore company will cost you just a few hundred bucks per year.
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ajaymein
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Re: New CFTC Rules

Postby ajaymein » Thu Nov 25, 2010 4:15 pm

ZEN wrote:
newark18 wrote:I am trying to figure out some reasonable and low cost solutions to the new CFTC rules against a US person using a foreign broker. As you probably already know, no US brokers permit hedging. And this combination is causing me to look for ways to establish an entity and bank account in the foreign country of my future broker. Now, this is not an easy project. If anyone has any thoughts on this, I would love to start a discussion. Currently, I am considering UK and BVI. But I am open to any foreign country with a respectable foreign broker.


The new CFTC comunist and dictatorial rules will slowly but surely kill the retail forex market in USA.

To escape from this abusive rules, one may establish an off-shore company in an off-shore location and then, as the owner of this off-shore company you may trade with any broker you want. Even if you are an USA citizen the off-shore company is not and therefore will not obey to any USA laws. An off-shore company is not expensive. There in the USA are many law firms wich are specialized in off-shore companies and they allready have a few company registered, and this companies are so called ready-made off-shore company. To operate this ready-made off-shore company will cost you just a few hundred bucks per year.


If you were to setup an offshore company and trade based off of it, are you still obliged to pay US taxes?

ZEN
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Postby ZEN » Thu Nov 25, 2010 8:10 pm

ajayemin asked:
If you were to setup an offshore company and trade based off of it, are you still obliged to pay US taxes?


As far as I know, an off-shore company is not subject of the USA IRS law. You will pay the taxes, wich are very little by comparison with the USA taxes, in the jurisdiction of the off-shore location. When you transfer the money in the USA off-course you have to declare this money to IRS and pay some tax. It depends from country to country. In Romania I pay only 16% one time per year, the tax on income, as company or private person.
But you have to ask a law firm wich are seling this kind of company. Usualy, even in the USA an off-shore company cost only a couple of hundred of bucks. It may be complicated but is not. The specialised law firms wich sell this kind of company usualy give you the legal and accounting consulting you need.
Today it's better!

ZEN
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Postby ZEN » Sat Dec 11, 2010 10:07 am

I have found two good brokers from europe who accept US traders.
I do not know if I cant put the link to their web-page here!
Let me know.
Today it's better!

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