But why can't you just have the server on the Island as you suggested? Then you can be in Chicago under 5 inches of snow and I can come and see the cluster... BTW, aren't you in Chicago in December? Let me know... nitro
1) If you are not US I would; 2) It is not snowing here; 3) Going home for Xmas, I will let you know.
cgjung, you might want to look into the services of www.zeroknowledge.com They can 'annonimize' your surfing. They basically stand between you and anything else out there. Their clients include ISPs and many private corporations. Hope that helps.
Quote from bobcathy1: Trust me, there is no privacy once you log online. None whatsoever. That is why, if you can't put it on the front page of The New York Times, don't put it in your computer. That's somewhere between over-simplification/generalization and paranoia. Why should we trust a blanket statement like that? It's FUD-inciting comments like this that gives those of us that have spent our lives in IT, a bad name. It's not particularly difficult to take simple, easy steps to greatly improve your privacy and security. Far easier, cheaper, and more effective, even, than putting high-security door locks on your house.
What are you talking about? My statement had to do with life in general. e.g. if you follow the law, what difference does it make. cjung, you've made things more clear. the same questions you raise are also being raised by states in regards to sales tax etc. As it can be a potentially complicated issue, I think the best place to get advice is from an attorney.
i don't have any definitive answers but are you sure you need a license in Canada for an offshore fund? If it's offshore Cnd. securities is not involved. Also, if the fund is offshore you would only pay tax on the income you're bringing back into Canada right? If the HQ of the fund is offshore & that country & the US have a non-witholding agreement the assets grow tax free until it's moved from HQ back into Canada. So if this is the case anonyminity isn't needed. You just happen to be a Cndn. resident who manages an offshore asset pool. Your compensation is taxable as soon as you bring it into Canada. Even though all of us won't get to live in the Bahamas maybe we can at least make a visit to 'HQ' once in a while.
Darren, Your assumptions are incorrect. All management funds are taxed regardless if you have repatriated funds back into Canada. All worldwide income must be reported and is taxable under the New Tax Policy in the Federal Budget of the early 90's. Distinction between management and advisory services must be made before one can determine the securities and tax implication. If you are "central in the mind and management" and exercise organizational/administrative affairs of the company, the fund irrespective of the origin of incorporation will be subject to local securities and tax laws. Having a neophyte 14 year old nominee manager in the Bahamas will not satisfy the smell test of Rev Canada. Advisory role is okay as long as a de facto manager exist, he/she (real person with market knowledge calling the shots) can effect a corporate directive to an advisory firm (you) in Canada to provide trading services/advice. However, your advisory fees will be taxable. If you intend to provide any sort of distribution of units of your hedge fund in Canada that opens up another can of worms. That's another thread. In short you''ll be required to obtain securities registration. Welcome to what Pat Buchanna calls Soviet Canuckastan. Again the answer is having an advisory function but it still may be challenged because of the trades being executed through a Canadian Server.