Corporate Online Discount Brokerage Account:
Set Up Fees:
Introduction, documentation processing and account Set up fee is US$500.
About the Brokerage Firm:
The corporate online discount brokerage accounts are established through our recommended online discount brokerage firm in Panama City, Republic of Panama. The brokerage firm is registered and licensed with the National Securities Commission. All securities and cash deposits are held in custody by the worlds largest international clearing firms.
The brokers/financial advisors are English or Spanish speaking, registered, licensed brokers who can provide you with sound investment advice for investing in mutual funds, stocks, bonds, options, money markets, etc. They mainly trade on the US and Canadian stock exchanges (NYSE, NASDAQ, AMEX, Toronto, etc.), however, they can trade on most major securities exchanges around the globe.
Trade Fees:
Online trade fees vary depending on the trade amount, type of security traded, and the stock exchange traded on. We cannot provide a fees list for trade fees since it varies so much from security types and from one market to another, however, we can say that their online brokerage fees range from US$35 to US$100 per trade depending on the security traded and the market it is traded on. However, when trading no-load mutual funds, the fund company will generally cover the trade fee.
Account Features:
Each account includes Internet access..
Internet Access:
Internet access is provided so you can access your corporate account information online and begin trading using a secured password and user ID.
Currency:
Funds can be held in USD, EUR, or any of the major currencies.
Documentation Requirements:
The following documentation is required:
A. Photocopy of passport for each signatory. The photocopy of passport should be notarized, and should include the photo of the person, the personal details (name, date of birth, passport number, etc.), and the signature. The photocopy should be clear and legible.
Note: If a passport is not available, a notarized photocopy of a valid government issued drivers license may be substituted as long as it has your signature, personal details, and photo.
B. One (1) Financial Reference Letter. The financial reference letter can be from any bank, brokerage firm, or credit union. The letter should be on the financial institutions letterhead, and should include the signature of an official, and the contact information (address, telephone, fax, email, etc.). There is no specific format that the reference letter must be written in, however, we have provided an example below for your reference.
Example of Financial Reference Letter
* Documentation requirements are subject to change without notice.
** Brokerage firms other than our recommended brokers may require other documentation.
C. Account Applications: If you wish to be the signatory on the account, then you must also sign the account applications. As signatory, you can place trades, write checks, make wire transfers, access your account on the internet, etc.
Minimum Deposit Requirement:
The minimum account opening deposit is US$5,000, which should be made by USD check or wire transfer. After the account is set up, additional deposits may be made by USD check, securities transfer, or by wire transfer. The recommended brokerage firm will email you the check deposit, securities transfer, and wire transfer instructions once the account is set up and initially funded.
Miscellaneous Fees *:
Account Opening Fee: Free w/ purchase of entity, otherwise US$500
Wire Transfer In: US$15
Wire Transfer Out: US$40 **
Internal Transfer: No charge***
Margin Extensions: US$50 per event
Returned Checks: US$40 per event
Stop Payments: US$20 per event
Retail Confirmation Fee: US$7 per confirmation
Inactive Account Custody Fee: US$50 per account per year
Inactive Account Mutual Funds Only: US$25
Personal Gold Pro-Plus Account: US$75
Corporate Gold Pro-Plus Account: US$150
Copy of Paid Check or MC draft: US$2.50
ATM Access: US$0.75 per transaction
Check Book (200 checks): US$10
Foreign Check Deposit: US$25 ****
* Fees are subject to change without prior notice.
** Third party wire transfers are not permitted. Wire transfers out are only permitted to accounts with the same name. For example, “ABC Corp.” can only wire funds to another account with the beneficiary name “ABC Corp.”. We recommend that if you need to make payments to third parties by wire transfer, you should set up a corporate bank account instead of (or along with) a brokerage account.
*** Internal transfers (journals) to accounts within the same institution are permitted on a case by case basis.
**** Acceptable deposits are USD Checks (personal or bank certified checks from same name account), wire transfers, or publicly traded securities. Unacceptable deposits are cash, money orders, travelers checks, double endorsed checks, foreign items/thrift withdrawal orders, returned checks, and third party checks or checks referring to more than one account number.
Set Up Procedures:
A. Submit an Online Application – Click on “Order Now”, and complete an online application, then hit “submit”.
B. Submit Payment – Payment can be made by Bank Wire Transfer, Western Union Money Transfer, E-Gold, USD Check, or USD International Money Order.
C. Receive Documents – Once we receive payment for the structure, we will forward you the corporate documents and recommended brokerage firms account applications for your signature (account applications are only included if you wish to be signatory on the account). You should sign the brokerage account applications where indicated, and forward them back to us along with the required documentation.
D. Account is Set Up – When we receive the signed applications, the account applications will be completed with the corporate information, and forwarded to the recommended brokerage firm. The account number will generally be provided within 5 business days from the date the documents are submitted to the recommended brokerage firm.
E. Begin Using Account – You will receive an email from the brokerage firm containing the complete account protocol for making deposits, executing trades, contact information of the brokerage firm, etc.
