Offshore share trading

[Blik]

Hello Forum. Does anyone on this forum have an offshore trading platform, where you buy and seel shares , warrents, futures etc, on another bourse and back the cash in dollars, pounds, euros etc. As part of your 2 mill offshore allowance - is this a good thing to get into? For example you could buy SA shares on the LSE and bank the pounds? Any ideas on this? One advantage, I guess, is that we know our own companies and have access to the information here. I am not SA negative , but if you have an above board chance to invest 2 mill overseas, why not? If anyone is doing this, are there any pitfalls to watch out for. All must be above board of course.

[asylum]

First you need to open an overseas bank account, standart bank can open an account for you as they have a branch on the isle of man, from there you can deposit your funds and transfer the amount you want to a broker or online trading platform. Merits yes if the Rand plunges you score.omo

[Blik]

Shot Asylum. Sure no problem - get the tax clearance and open a bank account - Guernsey - has same time zones as us. Do you know or prefer a particular bank? But thats about all I know. Essentially I would like some foreign currency earnings....something that pays out in Dollars, Pounds or Euros

[#4]

Natwest is good -Natwest Broker Line-- here is a link. http://www.natweststockbrokers.co.uk/ There is a bit of paperwork to do but they are very helpful and will voice call to communicate. Once u have opened any account with them , savings , current , card account then the next step to a trading account is easy. There is a lot of paperwork via snail mail but when it happens it works great.

[#5]

For CFD, forex or spreads there are companies that manage your account for you and are basically linked to your SA account , so no need for a off shore bank account. The benefit of this is that there are no bank charges

[CrownA]

This has been here before. Go to www.nodealingdesk.com to see where NOT to go. Then try out www.mbtrading.com. Best spreads on Forex/CD's, etc. And you can trade all shares as well.

[Blik]

Sorry for all the questions - but let me ask another: Do any banks that have their base in a tax free zone - Caymans, Geurnsey, Monaco etc, have trading platforms, so that I wouldnt have to pay tax on the profits of my trade? But is that being too greedy?

[#8]

cfd, spread betting no tax that side

[#9]

Just beware of all the red tape and certified documents that need to be completed if you want to bring the funds back to S.A ,