Best Location for Offshore for FOREX trader

[TrudeauG]

I'm a US Citizen residing outside the US. I would like to offshore for individual trading purposes.

If anyone could recommend a jurisdiction or a trusted website where I could get a good price, I would be greatful.

 

[shubhankarch01]

looks like nobody here has any solutions or even interest - even I am curious‌

 

[Fulton Abraham Sanchez]

T, hi.⁠
The best jurisdiction for Forex is Cayman. Please note that you will need to report⁤ this company on your personal return and if there is a foreign bank account you⁣ will be subject to FBAR.

 

[TrudeauG]

Why cayman?

 

[zzzzzz]

Isn't Porto⁠ Rico tax free haven for US citizens?

 

[aaceofspades]

Did you⁠ find a solution? I have identical circumstances. Having residency outside the US has helped but⁤ most brokers still refuse any account with a US passport regardless of residency.

I recently posted a similar scenario and have had zero replies or︀ suggestions. Do you have any information? This thread is over two years old but I'm︁ persistent.

 

[JustAnotherNomad]

I know a HNWI US trader. He moved to a territorial-tax country and has a‌ dual-trust setup in some Carribean islands (Nevis? Caymans?) and doesn't pay tax, as far as‍ I know.
Maybe this article helps:

https://www.northerntrust.com/docum...lanning-insights-frgn-trusts-for-US-benef.pdf
Seems like it doesn't exist anymore, here's a⁠ cached version:

https://webcache.googleusercontent....f&cd=9&hl=en&ct=clnk&gl=ae&client=firefox-b-d
I don't know anything else about this - never started researching it⁤ as it seems only relevant for Americans.

 

[EliasIT]

Good read. thanks for the sharing.