Legal Question in Investment Law in Florida

Offshore Entity

Hello,

I am involved with an online investment program HYIP which is based offshore, it is 100% legitimate and legal. The invest program requires the members to use a offshore entity because they don't want to deal with all the different jurisdictions and tax issues, which is understandable. I would like some advise on how to use a offshore entity legally. What I would like to do is basically after the fund get to my entity transfer them to my us bank account pay the taxes and ever else I need to do to make this 120% legal, can you please assist me with my concern.

Thank You

David


Asked on 6/22/04, 2:21 pm

1 Answer from Attorneys
Tonia Troutwine, Esquire - Troutwine Law Group. LLC

Re: Offshore Entity

If you are selling shares of the entity to US citizens or soliciting in the US, then you need to comply with all US Security Regs and Tax Codes. If you are in a foreign market and only soliciting foreign investors then you need only comply with the laws of the foreign jurisdiction in which you are soliciting, with the exception of any gains you may receive, if you are a US citizen.

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Answered on 6/23/04, 7:53 am


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