offshore company for trading shares?

[bobbiesmith]

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

 

[Safa]

Isn't it just to find a trading platform? create an account and start trading? I mean I know alot of people who trade with different forex companies also thy connect to trading platforms like Online Share Trading - No Fees - GCI Financial and Online Trading - TD AMERITRADE - Online Stock Trading and Investing to trade stocks and other financial documents ?


Costa Rica is a great place to reg. a off. company I simply got limited when I applied for a credit card account.

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[bobbiesmith]

Cheers Safa - Isn't it just to find a trading platform - Is it really just that easy? I thought that there would be a whole mine field of USA tax stuff to have to deal with (sorry for being a bit naïve it's the first time I've lived outside Australia). sure the US-IRS is going to hunt me down? 🙂 also my Tax agent in australia tells me that i still have to pay aussie tax as well?

 

[JohnLocke]

You will have to pay tax regardless how and where you incorporate offshore, you may want to look at double tax treaty's and as well consult with your tax advisor in regards to how to reduce the tax, many countries have a few "loop holes" to avoid tax, since Australia isn't the US I believe there may be as well in your country possibilities.

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[flofi]

After i go through the tax rate a person must pay being an Aussie - INCOME TAX REGULATIONS (AMENDMENT) 1991 NO. 391 I'd consider a legitimate structure for a new offshore company, you might be able to reduce the tax by doing so.


Seeing what Admin recommended, you should consider a offshore jurisdiction who've double tax treaties in place with Australia, I discovered this particular link from your government : Tax Treaties (Double Taxation Agreements and Double Taxation Conventions) treaties

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[flofi]

Sorry for posting again here is a better link Countries that have a tax treaty with Australia


Otherwise you may run the risk to find a country who don't have any treaties or TIEA

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Runners just do it. They run for the finish line even if someone else has reached it first.

 

[Moh1]

Is this only applicable for USA and Australia or for all countries?

 

[bitotan]

bobbiesmith said:
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
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