Hi, I would like to know what my options are in terms of a tax-free jurisdiction where I could set-up a company and open a corporate account with Interactive Brokers without any issues. My understanding is that Dubai is an option, are there others I should be aware of? FYI I am a resident of Canada and plan to eventually move to a country that doesn't tax foreign corporate income, at which point the structure will make sense. In the meantime I accept I have to comply with CFC laws.
Tax-free jurisdiction for Interactive Brokers
- Thread starter Premium
- Start date
- Status
I've planned something similar except the moving to the country part. So far I've learnt that dubai fits the best for this structure as it provides better (and probably easier) options when it comes to banking and stuffs. You can consult Fred and Captk for dubai and alternative options available for such structures.
@Fred @CaptK
@Fred @CaptK
Any income arising from trading in securities is completely exempt from corporate tax. The term ‘Securities’ includes but is not limited to: ordinary and preference shares, founders shares, options on titles, debentures, bonds, short positions on titles, futures/forwards on titles, swaps on titles, depositary receipts on titles, rights of claims on bonds and debentures, index participations (only if they represent titles), repurchase agreements or Repos on titles, participations in companies, units in open- end or closed-end collective investment schemes such as Mutual Funds, International Collective Investment Schemes (ICIS) and Undertakings for Collective︀ Investments in Transferable Securities (UCITS).
With respect to crypto this has been extensively discussed in︁ other threads and the answer is that at the moment itnis taxed as income
With respect to crypto this has been extensively discussed in︁ other threads and the answer is that at the moment itnis taxed as income
Hello @CyprusLaw, is 100% offshore Cyprus structure sustainable in the long run? viz., Cyprus offshore company + IBKR (if they accept offshore Cyprus co for entity account) + Any Fx brokerage account + a bank account (offshore) to manage all these deposits and withdrawals?
If it is, I'd like to discuss more.
If it is, I'd like to discuss more.
Hello! I want to move my interactive brokers account to UAE (recive ID by using company incorporation) from other country, change tax residence in IB to UAE, but de facto stay my country tax resident. All money transfers to/from IB only from UAE bank. No taxes will be payed in my country. Is this good idea? What are the risks? Thanks in advance.
- Status