Home-based trader in the U.S ?

Discussion in 'Professional Trading' started by Miron, Jan 10, 2006.

  1. Miron


    Hi everyone, and happy new year to all of you guys.

    This is a SERIOUS thread aimed at pro traders.
    Living actually in Europe right now and being Series3 licensed since last year, I would like to know what it takes to settle down as a home-based trader in the U.S

    I've talked to the Immigration Service and the Embassy for months and you need an "Investor/Trader visa" in order to set up your own company in this country.
    Sadly enough, after that, it's pretty HARD to get all the pieces they need to for one to take a chance on an application.
    Especially when one considers that the "home-based trader" status is pretty unique, per se.

    Therefore, I would like to get advice from some Am traders living with this status or better still, some foreigners who are living now in the U.S.
    What does it take ( taxes, company form... ) to reach and make a living out of this status in the U.S ?

    Thanks a lot in advance guys, take care :)


    P.S : For those of you who prefer to contact me via E-mail, miron_plug@yahoo.com
  2. One piece of advice, get a US based immigration attorney. Something straight forward is complicated enough. PM me if you want a referral in the Boston area.
  3. It takes $1,000,000 U.S. dollars for you to be considered for investor status.
  4. Miron


    Hi again,

    First off, no, it does not take $1M to get an investor visa, it's FAR more complicated than that :)
    Someone has asked me to be more precise so here is the situation if some of you need more information to work things out.

    The business plan is to turn into a CTA/broker by the end of 2006.
    Meaning, I need to set up my own company to do so and obviously, to live in the country.

    Nevertheless, as any pro trader knows, one needs to focus on the downside of the trade to be not caught by an unpleasant move :)
    So, I have to take into account that I may not find a clientele right away while prospecting by myself or on behalf of a brokerage house of any kind.
    Meaning, I will have to make a living and as I am a pro trader/equity analyst, I do that on a daily basis.

    But the ISSUE is, what kind of visa do a European need to head off to the U.S while having the home-based trader status ?

    Any help will be greatly appreciated, thanks a lot

  5. Miron


    Wow, not many answers in here.
    Does it mean there is no home-based trader in this forum ?
    Or that you are all American ?
    Or maybe you don't like giving some advice ? :D

    More seriously, my question is simple enough guys.
    If you're a home-based trader and you live in the U.S, what is your professional status ?
    What kind of company have you set up to become one ?
    And what's more, if you're foreigner pro trader living over there, what kind of visa did you obtain to get there ?

    Thanks very much again, I need some help

  6. Ditch


    You can easily live on a visa waiver in the Us year round and trade while you 're there, you just have to leave the country for 3 days minimum every 90 days. Not the solution you're looking for, but I thought I'd mention it as a possiblity anyway.
  7. Bez


    In the old days the 90 days was fine...It was a great excuse to go to the bahamas or cancun every 3 months:cool:

    Not sure its as easy these days..
  8. Ditch


    well, a trip to the Caribbean, Canada or Mexico doesn't comply any more, apart from that it's still the same
  9. I do know a little about this but not in the area of being a trader. What I do know from being a real estate broker is as a foreigner you can purchase a business. After that you may purchase a home as long as you need the home to live here to run your business. Typically after a few years you can get a permanent visa. Once you have a business, it should be easy to open a trading account for the company, and do what you want. If I were you I would search online for business brokers that have an expertise in relocating foreign investors to the US. Just make sure you know what state you want to move to first. Each state requires a business broker to be licensed by the state.

    Good Luck
  10. Ditch


    You don't need a permanent visa to purchase real estate in the usa, it's the other way round, if you want to live in your property permanently you need a visa or green card.
    #10     Jan 10, 2006