Your US entity IS Blocked from foreign accounts if your authorized rep is US resident

At least as far as GFT and FXsol are concerned. Just tried to open commercial accounts for my entity, acting as CFO, and was denied based on MY status, which has nothing to do w/ the entity I work for. This violates pure entity status, and I'm not the/a beneficiary.

So am I to believe that no other US corps are allowed to trade foreign FX??

OR - Unless someone can offer a list of REPUTABLE FX brokers who do not have US branches, yet do allow us entities.


stir it.

P

Obviously you're entity has to reside OUTSIDE the US for the new environment the CFTC has created. The CFTC does not want ANY US citizens trading with foreign brokers. Period.

So, you're entity, needs to be absolved and re-located to many, many available islands that offer the protection you need.

Correct. Get your entity out of the U.S.!

The government can't tell you that you cannot establish a foreign based entity.

You know, if what's being reported in this thread is true - it would really tick me off even further. On what legal authority is anybody blocking U.S. based entities? At the tax assessment level, an S-Corp is taxed through the individual owner(s). But, not at the C-Corp level. Government does not tax the CEO for being the CEO. It taxes the C-Corp, as it is its own self-identified entity, with legal status similar to that of any other individual. An llc and llp, depending on how they were structured, are taxed through the GP(s) and LP(s) or Unite Holders. But, if that llc or llp is owned by another entity, then it retains identity expressed in the legal filings that establish it as an "owned legal entity."

This stuff is getting ridiculous, if true.

How many of these Congressmen and Congresswomen, are going after their own Pension plans and Trusts, that are formulated in Nevada or the state of Delaware? How many of them are going after their own Off-Shore "entities" in this way? These people are really hypocritical and arrogant.

To conclude that its ok for them to set-up legal entities abroad, or in tax havens like Nevada, where there is no reciprocity agreement with the Feds on tax related issues, and then at the same time conclude that a private U.S. Citizen does not have the right to open and account with a Foreign entity, through another legal entity; is plain ole double standard bull. And, I for one have had enough.

Dual Citizenship just became a hot topic in my house.

go to a bank.. they will not hit you like that there...at all. they can;t tell someone where they can open a bank account at...I'd like to see that!