Offshore Asset Protection II

Offshore Asset Protection II

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http://robertgirga.com/RobertGirga/offshore-asset-protection-ii/



This article is a continuation of our thoughts on offshore asset

protection.






For the first part visit Offshore Asset Protection II at the link

below.






The very wealthy know that a good way to protect wealth is

to store it and grow it in discrete offshore banking

centers.






They use a variety of legal vehicles to preserve privacy and guard their hard earned

assets.






As government intrusiveness, invasion of privacy, and the

threat of losing all due to some else’s neglect increase

in this world consider an offshore solution to asset protection and read on.






Tax Havens: Put Your Money in Tax Advantaged

Jurisdictions






Virtually all offshore jurisdictions do not tax income

that is derived from outside sources and do not tax

interest income from offshore bank accounts.






There are many tax havens and each has its advantages.






Bank by Means of an Offshore Corporation






Form an offshore corporation, with or without bearer shares and with or without nominee

shareholders.






Then open a corporate bank account.






This is an excellent means of providing personal privacy

and offshore asset protection.






. Both individuals can corporations can do this.






Do Your Banking via a Foundation






Many who choose to protect their assets offshore use a Panama Private Interest

Foundation.






This vehicle can hold any number of assets for its

beneficiaries, including a bank account.






A beneficiary of such a corporation can have access

to bank account assets worldwide with credit or debit

cards.






For extra protection the foundation can own a

corporation that owns the bank account.






Use a Trust to Own a Bank Account






It is possible to set up a trust to control and guard offshore

assets.






These assets can include a bank account. Just like with

corporations and foundations the trust will be set up for the

sole benefit for its beneficiaries.






The Layered Offshore Approach






Depending upon the degree of offshore asset protection that

you require it is entirely possible and very common, to combine a number of offshore

solutions, from different jurisdictions.






A foundation or trust can hold a corporation. The corporation can do business anywhere in the world and not pay taxes in

the offshore jurisdiction.






The same corporation can have bank accounts it its

name.






Beneficiaries of a trust or foundation receive payments, use the bank credit card, and receive benefits such as the

use of a house, car, or boat all in the name of a subsidiary

corporation or subsidiary bank account.






Choosing the right jurisdictions and vehicles is

important and should be done with the advice of competent

and reliable counsel.






Be Discrete






The old rich know this.






Present yourself to the world in such a way as not to attract undue attention or become a

target.






. Unfortunately the new rich often need to learn this fact.






Having wealth is great but flaunting it can be

problematic.






The more attention you call to yourself the more trouble you

will have trying to preserve your privacy and guard your

wealth.






Be discrete.






It goes a long way at home and offshore in protecting your

hard earned assets.






Offshore Asset Protection II

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Transcript of Offshore Asset Protection II