Buying stocks and bonds under my mother's name.

klauz619 · 1 Buying stocks and bonds under my mother's name. Fri Sep 12, 2014 5:36 am

klauz619

Arresto Menor

Posts : 1
Join date : 12/09/2014

OFW here, I won't be in the philippines very long or often which makes things a problem in registering for a broker.

In addition while staying in the UK I will be taxed double on dividends and bonds so I was thinking of registering my mother's bank account to COLfinancial and send her money and manage here account myself where she will only be taxed by the philippine government.

Is this fraud/tax evasion? I don't think it should be since she will be legally paying all her dues to the phil govmnt.

Lunkan · 2 Re: Buying stocks and bonds under my mother's name. Thu Oct 30, 2014 11:07 pm

Lunkan

Reclusion Perpetua

Posts : 1356
Join date : 11/07/2013

Well. I suppouse UK would see it as illegal, but they will get trouble to find out Smile

because it isn't illegal for you to send money as GIFTS to your mother.
As long as the money/stocks stay in HER acount, and you don't get anything, no illegal act is done. (If you don't make any communication, which prove it's illegal.)

But LOOK UP! so you don't lose your money by for instance your mother die suddenly and your sibblings demand their inheritance share.

(Btw - I believe the SE Asian stock markets have much better potential than the European/American in the long run.)

Buying stocks and bonds under my mother's name.

1 Buying stocks and bonds under my mother's name. Fri Sep 12, 2014 5:36 am

klauz619

2 Re: Buying stocks and bonds under my mother's name. Thu Oct 30, 2014 11:07 pm

Lunkan