Hi All,
I have a brother-in-law who is Ukrainian and lives in Ukraine. He trades currency using forex.
As he lives in Ukraine he cannot get access to the world markets.
He has done reasonably well over the last couple of years and seems to know what he is doing.
To cut to the chase, he asked me to open an account here in my name so he can have access to the world markets.
My wife is a housewife and mother and I am currently employed.
What would our options be given this scenario, from a tax liability point of view and what would be the best way to get any profits back to my brother-in-law in Ukraine.
Thank you in advance for any advice.
I have a brother-in-law who is Ukrainian and lives in Ukraine. He trades currency using forex.
As he lives in Ukraine he cannot get access to the world markets.
He has done reasonably well over the last couple of years and seems to know what he is doing.
To cut to the chase, he asked me to open an account here in my name so he can have access to the world markets.
My wife is a housewife and mother and I am currently employed.
What would our options be given this scenario, from a tax liability point of view and what would be the best way to get any profits back to my brother-in-law in Ukraine.
Thank you in advance for any advice.