Offshore investing?

Question

I may or may not be involved in offshore investing. How can I do this here in the United States legally?

I have no interest in investments here in the US, so I am looking abroad. However, I WANT to be legal. I do not want to get myself into any trouble.

So basically, how can I do offshore investing legally here in the US? And dont tell me to that I can't or shouldn't do it. That is not an option.

Answer 1

You didn't ask about buying foreign companies in the US. You asked about offshore investing.

It is legal for US citizens to invest offshore. If you open an account, however, you have until June of the following year to file an IRS form disclosing the account. This requirement is only in effect if your foreign accounts total over $10,000. You are also required to disclose the account on your US tax return, 1040 Sched B.

Below is the link to the IRS form.

Best of success.

Answer 2

There are many foreign stocks and bonds that can easily be accessed through an online broker. There is also offshore assets (a tax shelter for your money). Go to google and type in "offshore assets"

Answer 3

If you are talking of owning shares of companies abroad. Then you can look at American Depository Receipts (ADRs). These are foreign company stocks which are traded much like US stocks on NYSE, Nasdaq etc.

A good example is an indian company Infosys (Nasdaq: INFY). No opinions on weather you should buy this or not. I am just giving an example.