Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: TMFMishap Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121341  
Subject: Foreign Investment Tax Rules Date: 3/9/1998 4:44 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0

I have been given the difficult assignment of assessing my significant other's relatives' portfolio. Her Bolivian uncle was the beneficiary of a will and was given a lump-sum of cash in Bolivia (he lives in Bolivia). He has parked the money in an off-shore savings account in the Bahamas but he would like to enter the U.S. stock market. He got in touch with a Crestar financial adviser who recommended an "offshore" MFS Meridian Massachusetts Investors Trust - Class B, a Five Star Morningstar mutual fund. The adviser claimed that he could bypass American capital gains taxes this way because the monies are in special "off-shore accounts" and he was a foreign investor.

Are you familiar with special off-shore mutual fund accounts? If so, are the financial advisers claims true? Who, other than MFS Meridian, offers these off-shore accounts? (I called Vanguard and they do not; MFS says they do but only investment advisers can discuss them with potential clients)

Many thanks in advance,

Neil, a Fool
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:

Wal-Mart Nixes Apple Pay
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.