Capital gain tax exemption without offshore broker services
I would like to share with you some interesting fact that I’ve found recently and think may interest many traders.
As you all know capital gain taxes take a large part of our profit from trading. So that's why I was trying for a long time to find an offshore brokerage firm to avoid them. Possibilities were many, but I was a bit confused. On one hand, I wanted to open an offshore brokerage account; on the other hand I was too concerned about my information and money security.
So, in those days of seeking some convenient issue, I found another variant more secure, in my opinion.
I have an Armenian friend and thanks to him I found that in their country there's no taxation law concerning capital gains. It interested me so I made a more deep research.
I succeeded to find a good brokerage firm in their country: Ameriabank Brokerage Services. Here the link:
This is an Armenian bank that offers brokerage services on all major markets and with all major financial instruments (options, futures, stocks, bonds, currency, ETF etc.)
So, I found it very tempting, first, because it's not offshore, so it's more secure( it's regulated by Central Bank of Armenia), secondly it turned out that they have a representative office in USA, so it was fast to open a bank and broker account.
On the whole, I like their service. Their order execution speed is fast. I would say extremely fast as all my market and limit orders were executed quick enough so I didn't lose money on fast moving markets as it sometimes happens. Their commission rates can’t say low, but fair. On the other hand, their trading platform is easy to use and very handy (they say they use some known American broker firm trading platform). It’s got more than 50 order type placing possibilities; its charts are visually comfortable and have many adjusting functions. To be honest, I don’t like much their site design, but think it’s not very important.
What meters to me is the capital gain tax exemption and quick order execution.
So, here the all story. If you know another variant to legally get over capital gain taxes, please tell :)