International brokerage accounts in 2023
An offshore brokerage account enables international entrepreneurs to buy shares, bonds, mutual funds, and other investments around the world. Healy Consultants assists Clients to open international brokerage accounts through professional brokers in reputable jurisdictions around the world. Some of the key features of international brokerage accounts include:
- Cost-efficient, legally tax-exempt trading on most international stock exchanges. A brokerage account is a secure multi-currency trading platform which can be managed online or by email, fax, or phone orders;
- US 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. Passive income from US-based sources (e.g. dividends, interest, royaltise) are treated as FDAP income and suffer withholding tax of 30%. An offshore company may not be required to file income tax returns with the US Inland Revenue Service (IRS) or with any other country’s tax department;
- Brokerage accounts offer direct access trading, advanced charting for technical analysis, as well as professional customer support for both experienced and new traders. The account offers instant access to more than 256,000 real-time stocks, options, foreign exchange commodities, and indices, all dynamically updated. It is also possible to view, chart, analyse, and manipulate the data to meet trading requirements;
- Healy Consultants assists Clients to open accounts with leading brokerages including Merrill Lynch and Charles Schwab. Our fee to handle the account application from start to finish is US$7,950; View invoice PDF
- On average, it takes two weeks from initial application to account approval. Account opening typically evolves as follows:
- Healy Consultants and our Client agree on the most suitable location for the international brokerage account;
- Our Client settles our brokerage account opening fees (see point 4 above);
- Healy Consultants liaises with the brokerage account provider, completing the account application forms on our Clients’ behalf and paying the minimum investment fee (if applicable). The offshore brokerage account application form includes acceptance of the bank’s terms and conditions of the account, which may include: 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 return to us;
- Our Client also provides Healy Consultants with the following due diligence: source of funds for the account, bank reference letter, passport copies of account signatories, and the investor’s resume.
- Once we receive brokerage account details (including internet login and password details), we forward them to our Client.