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Alberto
If you have a real foreign corporation, then you could contract or hire your
domestic corporation to trade the account. Or trade it via telephone. No
one knows where calls originate nowadays. Or conduct your trades via the
Net
Anyway, this is moot, but interesting to discuss. With a foreign
corporation, foreign directors and bearer stock, who knows who actually owns
any international corporation? I've got to believe that there are a
bazillion of these corporations out there doing their thing in real estate,
investments, etc. <G>. There are too many people not paying taxes around
the world.
We have a business associate who is Chinese, lives in Hong Kong and has
citizenship in Singapore. He has a couple of factories in China, in
partnership with the Chinese government and local leaders. Top tax rate in
Hong Kong is 15%, I believe, yet he pays a maximum of 7% by using these
various countries and their various laws to his benefit.
Now he hired one of the Big 6 CPA firms to set this up, I understand, at a
pretty substantial fee. If I ever get to the point where it matters, or I
can afford it, it might be worth the investment.
Regardless, a top tax rate of 7% is something I can live with <G>.
Regards
Guy
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]
On Behalf Of Alberto Torchio
Sent: Sunday, August 16, 1998 8:49 AM
To: metastock@xxxxxxxxxxxxx
Subject: Re: Offshore trading
Guy,
> 4- Since this is a corporation, it pays any taxes due to whatever
government
> it operates under, so that it is in full and legal compliance with all
local
> laws. You, on the other hand, are merely a shareholder. No US taxes are
due
> and payable until either you receive a salary, dividend (regular income)
or
> sell your stock (capital gains).
According to most Countries' tax laws, whereas the Company is managed from a
Country
different from that of incorporation [how could you trade otherwise?] it
would be tax
liable in this latter Country too. I suspect that having non-resident
directors wouldn't
help either.
So Vitaly is basically right...
Alberto Torchio
Torino, Italy
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