Hello
I have been reading trough this forum for the past week, wow its great! I am pondering at the moment "Is it worth setting up an offshore company for trading shares". There is lots of stuff on the internet but its hard to make head or tail of some of it, so I would love to get some straight answers from some of you guys.
Who am I:
I am an 35yo Australian Male I have quite my job in Australia 6 moths ago and currently staying in Costa Rica(I've met a girl here and looking to stay longer”¦ that's another story 🙂 ). I have ~US$70,000 in Cash at the moment. I work for a British company as a web developer over the internet. I have been swing trading in Australia for 3 years with reasonable success (~ 9%pa return a head of costs). I would like to start Share trading in the USA from Costa Rica in the most tax efficient way (i.e. nothing illegal) possible.
Questions:
Do I have enough money to make it worthwhile to set up and Offshore company to trade stocks?
Is its necessary to set up and Offshore company to trade stocks?: - I have been told that you can also just register some way with the USA IRS or something as a non tax resident (any information would be good)
Do I need a US based broker? ”“ is it better to use a USA based online brokerage company like etrade or use an international one. I believe that the USA based ones have lower transaction costs.
Do I use a USA Bank or a Costa Rican Bank?
Should I set up the Offshore company in Costa Rica?: - I hear that Costa Rica is a bit of a tax haven, not as good as some but better than others.
Finally is there any trusted websites / companies / Accountants that I can use to get started?
Thank you in advance for all the help.
Bob
I have been reading trough this forum for the past week, wow its great! I am pondering at the moment "Is it worth setting up an offshore company for trading shares". There is lots of stuff on the internet but its hard to make head or tail of some of it, so I would love to get some straight answers from some of you guys.
Who am I:
I am an 35yo Australian Male I have quite my job in Australia 6 moths ago and currently staying in Costa Rica(I've met a girl here and looking to stay longer”¦ that's another story 🙂 ). I have ~US$70,000 in Cash at the moment. I work for a British company as a web developer over the internet. I have been swing trading in Australia for 3 years with reasonable success (~ 9%pa return a head of costs). I would like to start Share trading in the USA from Costa Rica in the most tax efficient way (i.e. nothing illegal) possible.
Questions:
Do I have enough money to make it worthwhile to set up and Offshore company to trade stocks?
Is its necessary to set up and Offshore company to trade stocks?: - I have been told that you can also just register some way with the USA IRS or something as a non tax resident (any information would be good)
Do I need a US based broker? ”“ is it better to use a USA based online brokerage company like etrade or use an international one. I believe that the USA based ones have lower transaction costs.
Do I use a USA Bank or a Costa Rican Bank?
Should I set up the Offshore company in Costa Rica?: - I hear that Costa Rica is a bit of a tax haven, not as good as some but better than others.
Finally is there any trusted websites / companies / Accountants that I can use to get started?
Thank you in advance for all the help.
Bob
