Offshore broker - Singapore?

[ihateregistering]

Hi I am looking at opening a new futures account. Because I'm non-domiciled in the UK I'd like an offshore account. US is obviously an option, but I might end up working there so was thinking of somewhere like Singapore or HK. Does anyone use a broker in Sg? Is it worth it?

BTW I don't trade very often, service is more important than price.

 

[pcholistic]

Greetings! Unless you are trading the local (SGX products), e.g. simsci), the local commission is higher than what you can find in a typical US broker. If you are still keen, send me a PM or email. I'll furnish you with more info on local futures brokers in Singapore.

 

[Stockjunkie]

Service in SG is a joke , I'd take HK anyday - direct , professional , down to earth and not plastic like SG people .

 

[bobsimmons]

brokerage in Singapore

Just wanted to tell you guys that the person who is promoting Offshore Asset Protection on his web site has an excellent Singapore brokerage in his LLC or IBC introduction package. I would reveal the brokerage here but I signed an NC/DC agreement to keep this information private as I paid for it by buying the excellent LLC package. And the brokerage is excellent since I have an account there and have used this Singapore brokerage to buy and sell stocks. You can also buy and sell CFDs, futures, options, and do forex there. Opening an account using a company gives you offshore asset protection in a crazy and mixed up lawsuit happy world.

Bob :smart:

 

[efwalter]

I am based in China and is non-permanent resident. So, my case is easier. Offshore capital gain is tax free as long as not brought onshore.

For my research done so far, I am considering several options, which may apply for you:

1) Use US based broker like Interactive broker or Charles Schwab for US registered ETF below a 60 KUSD as IRS would charge estate/inheritance tax above 60 KUSD at 45% tax rate. I pay 10% withholding tax on dividend. IB is cheaper than CS and allow investments in many markets but service is poor. On the other hand research and service in CS is outstanding. So, I am almost think to have accounts in both of them to get the best of each of them.

2) For above 60 KUSD, use Charles Schwab offshore mutual funds as not liable of either estate tax or withholding tax on dividend but the management fees is higher than ETF and actively managed and can only be traded through phone/email. Also, minimum investment is 10 KUSD per fund. So not as flexible but might be suitable for medium-long term investor and especially for fixed income/bond/gold funds

3) Use IB to invest in non-US registered ETF in non-us stock market. Therefore, I think no estate tax is payable. However, you will be trading in foreign currencies if your account is in USD. May-be one way is to have EURO account if you only trade let say in French stock market. I am not sure for stamp duties. I assume some stock market does not charge for it if trading through offshore broker.

 

[pcholistic]

There is a list of updated Singapore brokers at tradersingapore.blogspot.com

 

[DionysusToast]

I'm a British non-dom. I use Interactive Brokers in Hong Kong

 

[rathcoole_exile]

if you're non-dom, does that mean you're sub ?

or is that a different conversation altogether ?

 

[Pat494]

If you are putting your life savings somewhere I would suggest a country that has fiscal controls and a reliable legal system is a must.

 

[Counterspell]

I'm a British non-dom. I use Interactive Brokers in Hong Kong

And then how do you withdraw that money? Do you have to send it to Hong Kong bank accounts?

 

[budfox83]

Is there any advantage, other than estate tax, to using a local broker here in Singapore (e.g., UOBF) vs. say International Brokers in US?

 

[DionysusToast]

And then how do you withdraw that money? Do you have to send it to Hong Kong bank accounts?

Nope - you can hook it up to a bank account anywhere in the world.

Isle Of Man for me.