What can I say RPEX. Now i know trolling may be a pretty cool in the states, it's not how i roll. sorry my articulation doesn't pass the shakespeare test. I did use a bit of humor expressing that wide eyed feeling noobs get when you look a chart the first time. Thats all. As you've probably read in the previous post that reminds you of stinky organic matter, I haven't even touched age 25 yet. I am not old hand hand in any way and have no experience in these legal matters. I wasn't about to give $50k to some shmuck lawyer without knowing exactly what my options are. I just wanted to use this thread as a sounding board for ideas. and they are pretty formed now. I am most likely to get a dubai free zone corporation registered and a visa off that and continue to trade my retail ib account instead of any prop... P.S I found this thread insightful and it served it's purpose for me in looking at multiple angles and weighing options. I thank you all for your input. P Regards.
and the "incredible story" here for me is exactly that. It's been nearly 7 or 8 years of 12 and 13 hour workdays for me. What other words should I use for actually coming across something entirely unknown and enticing all those years ago. A happy accident. Thats all.
Don't come to the US, soon you will see more drones overhead than in pakistan. How about South Africa or Brazil?
1. Yeah. I do come from an upper middle class family. A son of privilege if you may. Not loaded, but never had to worry about anything during my childhood. Hence the initial gasps of horror from my family of not choosing a typical prosperous career of an engineer,surgeon or an army officer....heh. The schooling too was private, but my fluency in english may have more to do with a steady diet of FRIENDS and XFiles, Def Leppard, Bon Jovi, Iron Maiden and Metallica as a kid and sticking it to BOLLYWOOD. I've lived all my life so far in Pakistan. The only exposure I've head to British Education is that wholesome goodness of TOP GEAR. Long live Jeremy Clarkson. Educationally I have a bachelor's in Business Regards.
Not a nice thing to say, but never mind. I went to DPTG a couple of weeks ago on behalf of a friend abroad, and here's what they offered. 1) You rent a desk for a monthly sum ($2500 or less). You get the desk space, hardware (puter + screens), internet connection. 2) You can trade your own account with any broker you want, including IB. They have no restrictions. 3) If you open an account with the London-based brokerage THEY work with, you get the benefit of their "wholesale commissions structure", plus use of their leased line. This is not a biggie imho because the normal internet connection you would use otherwise is quite reliable. 4) To obtain a residence visa in the country, you can set up your own company in a Free Zone. That licence will be in your name, and you won't be working for anyone, or under the "sponsorship" of anyone. And you won't need a partner. 5) Easiest would be to set up the company in the same Free Zone as DPTG. It would cost you around $7,000 a year. You need to lock up some starting capital of around $80,000 while the licence is being issued. Once the licence is issued, usually a week to 10 days, your bank is instructed to unfreeze it, so you can use it as you please. 6) To set up any company, you also need to rent an office. 7) If you set up your company THROUGH DPTG, then the desk you rent with them is considered as your "rented office". So you can get a licence issued in your name without renting an actual office. 8) They can also help you with that $80,000 declared capital. If you go through them to obtain your licence, they might be able to get the Licensing Authority to accept a lower starting capital, and to get the licence issued faster so that it's not locked up at the bank for more than a couple of days. 9) So, in a nutshell, you need around $2,500 per month as rental for your desk, plus around $7k a year for your licence. That's as far as the "official" side goes. Your other expenses would be accommodation, etc. I hope this helps.
Thank you so much Samri. That arab thing I said is probably out of line. Shouldn't have said it in a public forum.
Interesting how it has mutated into a discussion on whether or not I am from Pakistan or not. Funny place, the internet.
Has it occured to you that perhaps the distrust of lawyers and bankers is a global phenomenon and not just an american safety mechanism?