campco

Hi,

Having the DXGC I'm looking to make more use of it than I do now (nill, nada, niente, nothing, niks, nichts, nulla).

I'm preparing myself for Forex. I hope to earn by hedging with the pairs USD/CHF and EUR/USD. I want to withdraw part of the gains I hope to get into my DXGC.

I'm thinking along following lines and hope for advice from members in here:


To open an account in for instance InterbankFX one needs to upload/send ones data; foto ID, etc.
This has to be done also when I open an account on behalf of my DXGC.
To receive the withdrawn funds I'll probably need a Vanuatu Bank Account (preferrably one that issues a Debit Card in the name of the company as well).
From there I can choose either to use the Debit Card (when enjoying Holidays abroad)or I bring funds to my Local Bank (in that case it is prone to Tax).

Is it correct what I'm planning???

Which Bank to choose in Vanuatu???

Regards,

Ben

abconnect

Hello Ben,

Is there not something like an accountant/lawyer in the Netherlands?

I would not even try to advise you one what to do with a DXGC, even if you lived in the US. It may be that things in your country are very different then here. I hope only someone from there will even try to help you.

Just my thoughts.

Charles

CuriousGeorge

Ben, this is a subject that most of us cannot advise you on in reality. The information I got concerning this from a lawyer here would ONLY apply to the US, nowhere else.

In the case of the FreedomRocks thing, since I am using InterbankFX and it's domiciled in Nevada, USA, ALL profits made there are subject to US tax liability, even if the account is in the name of the DXGC. Money was made in the US, so it's taxed there. After tax funds go to the DXGC, so, in this case, it simply didn't work for me.

Since the servers for DXS are not in the US and the merchant console activity is inside those servers, that form of income is US tax exempt as long as I do not use it for personal use inside the US. But we know what the merchant console is earning, don't we?

__________________

oneplanet

Hi Ben,

I would STRONGLY advise that people don't use their DXGC for anything until we get a clear view of what is happening.
I was advised to do this.

I'm PMing you some information of where you may be able to get advice.

Regards,
Eoin