Going offshore to escape the CFTC

[MrInvisible]

I see little choice for myself but to try to create an offshore corpororation and bank account to access foreign exchanges. But FACTA has caused the vast majority of banks to refuse us citizen originated corporations. Most of the european EMI reject you as well. Even the e residency for estonia is useless because of the scandanavian banks. Most of the smaller offshore areas are a scam, like the seychells. There are residency work arounds, getting residency visas and dual citizenships. But to be…

Been there done that…

Unless you’re an expat with local employment & housing. It’s almost impossible these days to get an offshore bank account.

The passport of the account signatory nullifies the location of the offshore entity with banks. Secondary passports now show the place of birth and are useless. A non US nominee signatory is an option but that is an added cost and very risky.

You also have the additional problem of trying to find a bank that has USD corresponding bank relationships which most of the Caribbean banks have lost.

I have a list of a few banks that fit the bill from my prior research but they were high cost, required >30K starting capital and required a personal visit.

I completely lost interest when all the major UK/EU/AUS brokers required the US applicant with an offshore entity to be ECP Qualified (>5 million assets)