orezok
Elite Member
Toyota, amongst others, is listed on the New York stock exchange. Are you saying that it's illegal to own Toyota stock?
I just don't understand?
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SkyPup
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orezok said:
It is illegal for a US citizen to own foreign stock like I said previously. You can only hold an ADR, which then subjects you to the foreign counties income tax laws, etc.....
An American Depositary Receipt (ADR) is a share of stock of an investment in shares of a non-US corporation. The shares of the non-US corporation trade on a non-US exchange, while the ADRs, perhaps somewhat obviously, trade on a US exchange. This mechanism makes it straightforward for a US investor to invest in a foreign issue. ADRs were first introduced in 1927
tallyho8
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MikePA said:
The last I heard, Canada was still a foreign country. (to those living here in America)
I wonder what the figures are for America only.MikePA
Super Moderator
Apparently, JD doesn't differentiate between the US and Canada and simply reports them as North America. I am still waiting for the source of the 10% figure. My guess is the source is someones imagination.tallyho8 said:The last I heard, Canada was still a foreign country. (to those living here in America)
Casey1
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If JD doesn't know the difference between USA and Canada then I wouldn't put too much stock in the numbers they allow for public scrutiny.
orezok
Elite Member
Originally Posted by SkyPup
It is illegal for a US citizen to hold stock in a foreign corporation, all you can hold is an ADR, otherwise you are a criminal.......
Other than the Securities Act of 1933 which requires registration of certain foreign stocks and certain countries which prohibit foreign ownership, I see no current legal prohibitions to foreign stock ownership.
ADR's are an option, not a requirement.
It is illegal for a US citizen to hold stock in a foreign corporation, all you can hold is an ADR, otherwise you are a criminal.......
Other than the Securities Act of 1933 which requires registration of certain foreign stocks and certain countries which prohibit foreign ownership, I see no current legal prohibitions to foreign stock ownership.
ADR's are an option, not a requirement.
SkyPup
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orezok said:
What are the foreign stocks that you own that meet your requirements?
SkyPup
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orezok said:
Why don't you attempt to purchase some of Toyota's stock and then complain to your broker that you are a US Citizen and you don't want the Toyota ADR that is listed on the NYSE but instead you only want the real Japanese stock?
Even better yet, just set up your own overseas corporation and make yourself the sole shareholder and then see what the IRS and Justice Department have to say about your offshore foreign corporation......
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MikePA said:
Mike ... I've read the same things you have. My 10% estimate is based on the model lines built entirely in the United States (sans Canada). Is this incorrect?
Were we to take JD's numbers as gospel and at face value, the cup is half something or other:
- 31% manufactured over seas or not in North America
- 42% of it's employees are not located in North America
- 22% of their operating profit is from abroad (this latter point is merely a sales figure i.e. that profit comes from N. American sales)