Foreign Brokerage Accounts

A foreign brokerage account allows international investors to invest in shares, bonds, mutual funds etc. Healy Consultants assists clients to open foreign brokerage accounts through a professional broker in reputable jurisdictions. The following is information international entrepreneurs may want to know about setting up foreign brokerage accounts:

Stocks, bonds, options, currencies and mutual funds are frequently bought through offshore companies because they are not liable to US capital gains taxes. Treasury bonds, futures and commodities are also bought through offshore companies.

Healy Consultants is able to set up tax free brokerage accounts through a professional broker in popular jurisdictions around the globe. Our preferred leading account providers are Merrill Lynch and Charles Schwab. Healy Consultants’ fee to handle the account application from start to finish is US$2,950. The time period from initial application to having the tax free brokerage account operating is two weeks.

To set up a foreign brokerage account, our client has to settle our account opening fees and select the most suitable jurisdiction, based on advice from Healy Consultants.

Healy Consultants then liaises with the brokerage account provider, completing the account application forms on our clients' behalf and paying the minimum investment fee, if there is one.

• an online services and electronic trading agreement;
• customer declaration;
• deposit requirements and termination of accounts;
• risk disclosure statement and disclosure of information;
  

Once complete, the account application form is sent to our client for signature and returned to us. Our client must also provide Healy Consultants with the following due diligence: source of funds for the tax free brokerage account; bank reference letter; passport copies of account signatories; and the investor's resume.

Healy Consultants receives the tax free brokerage account details (including Internet login and password details), which are forwarded to our client.

Investors should note that an offshore company legally has no income tax returns to file with the US Inland Revenue Service (IRS) or with any other country's tax department.