Discussion in 'Professional Trading' started by praetorian2, May 21, 2003.
Give me a couple of months and I will find #4 to watch #3.
Welcome to the Bahamas ...
NUTS NUTS NUTS !
By the way a friend told me with experience BLACKMAIL is rife there.
You probably don't have the temperament to be offshore ...
Never heard that one ...
Drug smuggling, Haitian smuggling, money laundering, wife or girlfriend swapping are common.
But who are you going to blackmail ...
Have you swaped your wife yet? Or maybe I should say, has she swaped you out yet? :eek:
Why not be novel and just base yourself out of the U.S. or U.K. ?
Personally, I never found offshore to be all that it's cracked up to be.
Citicorps and Bank of America were recently forced to turn over to the I.R.S. a good deal of their historical off-shore transfers.
You miss the point entirely. But that's not uncommon. Transfers have nothing to do with what is being discussed.
To your question, "Why not be novel and just base yourself out of the U.S. or U.K."
Then my question to you is "do you know any tax-exempt U.S. persons such an I.R.A. or Keogh Plan or Profit Sharing Trust, any U.S. tax deferred plan? If so, then by domiciling in the U.S. or the U.K. they are precluded in investing with you without nullifing their tax-exempt status. With an offshore fund they are quite able to maintain their exempt status. It's very simple to some but very opaque to others. But that's fine because my Fund is doing quite well in gathering assets.
You might be surprised to learn that Citi and JPM are THE two biggest users of offshore domiciles in Luxembourg.
And this has nothing to do with any retail news about transfers or doctors and dentist using credit cards from the Bahamas to pay domestic debts.
Haven't gotten to that level yet ...
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