Offshore Mutual Funds
We have all had questions on Offshore Mutual Funds before. Below are the top questions posed by visitors just like you to our. We hope our answers located below will help you solve your funding problems today. Feel free to ask another question, or even comment on what has been written.
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Ramon Said:
Taxes on Mutual Funds, non-registered?We Answered:
The fact your Mutual fund is non registered means that you will need to pay income tax on the gains every year. If registered, then you do not (meaning you hold this in an RRSP).You see - the mutual fund is realizing a gain through interest, dividends and capital gains. The mutual fund manager is buying and selling investments inside this mutual fund on your behalf.
So - you should reveive a T5 slip (I think it's a T5??), which summarizes your gains. So to answer your question - unfortunately, you will need to pay tax on your gains (whether its interest you make, dividend income or a captial gain).
Keep in mind though that the fist 50% of you capital gain is tax free!!
Leslie Said:
How far offshore investments reliable even if Swiss Mutual Fund give guarantee for our investments .?We Answered:
Hi,Recently the Malaysian Securities Commission have blocked ANY access into the website (www.swisscash.net) made from Malaysia since it is believed that they are a scam.
Both Malaysia's Bank Negara (Malaysia's Central Bank) and Singapore's MAS (Monetary Authority of Singapore) have issued warnings on this scheme.
But somehow, reading from forums and blogs, i found that the website is still operational in other parts of the world.
I personally have friends who invested in this but now they could not withdraw their money since their accounts are inaccessible.
-think twice before you invest here-
Chris Said:
Is it legal for Americans to have off-shore investments (mutual funds)? What are my tax obligations?We Answered:
The Internal Revenue Service does not recognize "Tax Havens". You must report all income and financial accounts outside the U.S. that have $10,000 or more in value in any one calendar year.You can invest in any country not on the U.S. State Dept. Forbidden List, example Cuba. If the Channel Isle's are not on the List, you can invest their.
Louis Said:
Just 2 question regarding Indian mutual funds?We Answered:
I cannot say about the other two but SBI magnum contra fund is a good fund provided you are in the (G) growth category.Marsha Said:
what is the difference between the domestic and offshore mutual funds?We Answered:
sorryDeanna Said:
US Residents/Citizens Offshore Holdings?We Answered:
you are allowed to own just about any leagal foreign instrument as long as you are not doing it to avoid taxation. If you declare the income from those investments and pay your taxes then you will be fine.