Suitable structure/residency for active trader (Stocks, futures, options)
- Thread starter RAGAV
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We don't need banking, we pay ourselves in stablecoins to (I think all of us) Kraken and then withdraw to personal accounts from there.
This is not only us but I know a far from 0 amount of people doing business (marketing, affiliates, etc) exclusively in stables these days to avoid compliance attacks.
This is not only us but I know a far from 0 amount of people doing business (marketing, affiliates, etc) exclusively in stables these days to avoid compliance attacks.
Yes, both of you are right. I am just reporting what I observed from India. The two Swiss banks did not reject other nationalities but displayed a message that they are Swiss regulated.
Copying the text from sygnum.
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If you are not located in Switzerland, please read below.
This website and the information contained herein are addressed solely to persons residing or domiciled in Switzerland.
Sygnum is a regulated bank︀ supervised by the Swiss Market Financial Authority (FINMA). The products and services on this website︁ are authorised in Switzerland. Sygnum cannot promote its products and services in other countries where︂ it is not authorised by the supervisory authority of that country to do so.
"
Copying the text from sygnum.
"
If you are not located in Switzerland, please read below.
This website and the information contained herein are addressed solely to persons residing or domiciled in Switzerland.
Sygnum is a regulated bank︀ supervised by the Swiss Market Financial Authority (FINMA). The products and services on this website︁ are authorised in Switzerland. Sygnum cannot promote its products and services in other countries where︂ it is not authorised by the supervisory authority of that country to do so.
"
Have a question related to these banks. Will all/(some of) these banks accept my UAE residence proof for opening non-resident bank account? Would I need to make any visits or need any kind of visa to open the bank account?
IBKR is a securities broker, not a bank (if I am not wrong). My requirement is to withdraw my trading/investing funds from IBKR to a bank (that is not located in either UAE or India).
IBKR is a securities broker, not a bank (if I am not wrong). My requirement is to withdraw my trading/investing funds from IBKR to a bank (that is not located in either UAE or India).
Don't know if there is anything special with Indian passport but I know enough UAE residents having accounts with them. So as long as you︀ have proper uae residence and can show utility bills most likely they'd open accounts for︁ you depending on your profile regarding Source of funds and other compliance KYC checks
IBKR is one of the brokers you could use to trade as you wrote your trade︂ stocks, derivatives and such.
You can transfer from IBKR to a bank account in your︃ name as long as the bank is not in the restricted jurisdictions.
IBKR is one of the brokers you could use to trade as you wrote your trade︂ stocks, derivatives and such.
You can transfer from IBKR to a bank account in your︃ name as long as the bank is not in the restricted jurisdictions.
There is nothing special with Indian passport.
In India, banks open account only when the individual visits the bank branch with all ID and address proofs. So I thought I would need a local address proof for these banks that you listed.
Also, someone in︀ this thread suggested if I get a Europe temporary (or D visa), I would be︁ able to open a bank account there. So I thought I might be required to︂ have a visa or local address proof or combination of both.
Thanks for the clarification.︃ IBKR is suitable for my purpose if the recommended banks accept UAE residents.
In India, banks open account only when the individual visits the bank branch with all ID and address proofs. So I thought I would need a local address proof for these banks that you listed.
Also, someone in︀ this thread suggested if I get a Europe temporary (or D visa), I would be︁ able to open a bank account there. So I thought I might be required to︂ have a visa or local address proof or combination of both.
Thanks for the clarification.︃ IBKR is suitable for my purpose if the recommended banks accept UAE residents.
You can open bank accounts in UAE or abroad jurisdictions which accept︀ UAE residents/passport/source of funds/KYC/UAE utility bills combinations if you have UAE residency/apartment.
Having temporary EU︁ residence won't help you in this regard and would make it more complicated.
Having temporary EU︁ residence won't help you in this regard and would make it more complicated.
USA LLC set up is used to be a tax free pass-throuh entity in USA, when no business is done in the USA. Active trading done on the USA exchanges is formally︀ a business activity in USA, even if the trades are executed outside USA. Therefore a︁ taxable event in USA. Using a USA LLC is therefore likely not the right entity︂ to use.
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