Global GT, FXGT, Crypto GT can open a corporate account. However, there is no form on the website that says “open a corporate account”. Therefore, the procedure for opening a personal account is the same. The process will change along the way.
What is a corporate account?
A corporate account is an account in which the holder becomes a corporation, unlike a personal account in the name of an individual. If you trade with a corporate account, you will be subject to “corporate tax” instead of income tax. Plus, if you haven’t started a company, you have to start one in the first place. There are advantages and disadvantages to opening a corporate account.
profit and loss
By creating a corporate account, profit and loss can be combined with businesses other than Forex, so it is a tax saving measure for those who run a company or who are starting a business. Profit and loss is the offsetting of profits and losses over a period of time. If there is a loss in the transaction, the profit and loss summation will subtract the loss in the trade from the profit earned in other businesses, so the tax on the reduced profit will be less.
By creating a corporate account, you can spread your expenses and save tax. If you have a corporate account, you can include expenses such as rent and executive compensation, expanding the range of expenses. Therefore, it will be quite easy because you will be able to drop it as an expense.
corporate business tax
If you trade on a corporate account, you will have to pay corporate tax on your profits. In addition, there are more types of tax due to incorporation than transactions with personal accounts, such as corporate inhabitant tax and corporate business tax, which is a tax on the region for running a business.
Maximum tax rate
This depends on the tax system, so it depends on the country, but if you create a corporate account, the maximum tax rate will be lower. If you are trading in a personal account, the profits you earn from trading are subject to comprehensive taxation, so income tax will be charged by adding them to other income such as salary income.
How to open a corporate account and procedures
The method and procedures for opening a corporate account are the same as those for a personal account. Please refer to the article below to complete the account opening first. This article will explain how to activate your account. In other words, from the point of account activation, the method will change for corporate accounts.
After creating an account, you will be asked to verify your account. The point is below.
ID and proof of address
To open a corporate account, you must submit the documents of the representative director. In other words, it is necessary to submit the certificate of the representative of the company, not the personal thing. There is no problem with images taken with a smartphone or the like.
Various corporate certificates
Certificates of incorporation may include shareholder certificates, officer certificates, incorporation certificates, and even certificates of all historical matters. Have all your documents ready.
Contact support center
Finally, if you have uploaded the required documents, please contact the support center. This requires an analog response, as procedures for corporate accounts cannot be performed on the system. Let’s tell FXGT support that you want to open a corporate account on the inquiry screen. The staff will ask you to submit the necessary documents for incorporation, so please respond accordingly. If the application is successful, the opening of the corporate account will be completed.