Wiring Money from BA to USA / CAN Business Accounts

[Rocco13]

I am looking for help, feedback or contact info on people who have perfected this process.

I have business associates (Argentines with active bank accounts) who want to invest in purchasing shares in Private USA companies.

They want to do USD telegraphic wires to the USA Business account.

The amounts are less than 1000usd.

So far what has been experienced is a series or comedy of errors in paperwork from the banks which has sent the cases to the Central Bank to determine if is a legit transaction. Once the Central Bank approved the transaction it went back to the private Bank for processing and then after 10 more days of nothing, the private banks says its again roadblocked by the Central bank for another possible incorrection or deficiency.

So far the process has gone on for 2 months and the monies are still sitting in cyberspace with no solids answers from anyone.

Nobody at either Bank seem to know the paperwork or correct codes to do such a transactions. HELP!

[Thomaso276]

Have you spoken to a local stockbroker who might be able to buy from here after receiving payment in cash? Or opening an account with them. I beleive my USA broker can buy stocks on any stock market.

Can you open an account with e-trade or something similar under their name (foreign nationals can buy securities in USA)

Maybe you should call an 800 number for Smith Barney or another firm and get their advice.

The central bank is probably worried about sending money overseas and not paying taxes on the earnings or value. It seems to be their way of saying only invest in Argentina.

Financial life here is like something from the old Soviet Union or Red China.

[Rocco13]

Appreciate the advice, but the problem here is they not at this time publicly trading companies, they are private with the future potetial of going public. So these are like seed or primary type shares. These being said a Boker cannot access them on any exchange. A;though a Broker may also have experience with advice on this situation. If there is ay on the board please say so.

These is legal and does have a source code as per the Central Bank requirements, yet of course still an exhausting process of bouncebacks.

I.


Have you spoken to a local stockbroker who might be able to buy from here after receiving payment in cash? Or opening an account with them. I beleive my USA broker can buy stocks on any stock market.

Can you open an account with e-trade or something similar under their name (foreign nationals can buy securities in USA)

Maybe you should call an 800 number for Smith Barney or another firm and get their advice.

The central bank is probably worried about sending money overseas and not paying taxes on the earnings or value. It seems to be their way of saying only invest in Argentina.

Financial life here is like something from the old Soviet Union or Red China.