Banking & Asset Protection Kit
Offshore Bank Account
Why Go Offshore
There are various reasons why clients decide to move some of their wealth (or themselves!) offshore and various advantages that such a move gives them.
The Importance of Diversification
Now more than ever, international diversification has become a necessary tactic for safeguarding your savings. As central banks in most of the developed Western world continue to print money and increase inflation, every citizen owes it to himself to reexamine where their assets are held.
The principle of international diversification is one that applies not only to wealth but to many different aspects of modern life. Different countries gain reputations for specific products. The Swiss make great watches and chocolates; France produces great wine and Germany has a reputation for engineering prowess. Products from certain countries gain a reputation that makes them sought after on a global scale.
Similarly, not all jurisdictions are created equal. Various jurisdictions offer different advantages for incorporation and banking services. Some jurisdictions offer a great citizenship-by-investment program while others offer easy residency.
The Benefits of Asset Protection
The use of structures such as private interest foundations and trusts offers asset protection to clients. The assets are no longer associated with the client. A letter of instructions can specify the objectives of the foundation or trust while foundation councillors or trustees ensure the objectives are met.
The main benefit of using asset protection structures is the fact that creditors and overseas authorities cannot access the assets.
The Importance of Acting Now
Once a lawsuit is filed, it is already too late to protect one's wealth by moving it offshore. This means that the best time to protect yourself from sue-happy claimants is now.
Moving some of your wealth to a jurisdiction where financial confidentiality is upheld can provide protection and reduce your tax bill.
It is so easy to safeguard your wealth, hold assets overseas and bank in different jurisdictions that the financial cost is insignificant compared to the security, asset protection and privacy available (not to mention the possible tax advantages). In other words, it is more important now than ever before to seek out the best places to live, work, invest and retire.
Implementing a strategy for managing your wealth is so beneficial and easy that it makes sense to move as fast as possible to secure your financial future.
To find out about how much it costs to go offshore, click here.